Cisco Appoints Daisy Chittilapilly As India And SAARC President

By

-

July 14, 2021

Daisy Chittilapilly has been named as Cisco’s new president for India and the SAARC region. She succeeds Sameer Garde, who recently announced his wish to leave Cisco after four years to work in the social sector.

Cisco said Ms Chittilapilly would be responsible for strategy, sales, operations, and investments to drive long growth in the region.

Ms Chittilapilly will begin her new position on August 1, 2021, which will also be the start of Cisco’s next fiscal year.

She has over 25 years of experience in the technology sector, including 17 years in the leadership role at Cisco. Ms Chittilapilly has a proven track record of transforming operations and cultures to achieve development at scale, according to a statement released by Cisco on July 13.

Ms Chittilapilly most recently served as managing director of Cisco’s Digital Transformation Office, where she engaged with customers in capturing and scaling new digital possibilities.

Dubai leads the way for global tourism recovery

By

BRL Editor

-

July 12, 2021

0

The latest data published by Dubai’s Department of Tourism shows the city welcomed 3.7 million overnight visitors during the 11 months from July 2020 to May 2021.

“A speedy recovery in Dubai’s tourism and associated sectors did not happen by accident; rather a clear and meticulous implementation of rigorous precautionary health protocol regime in the emirate and across the country is gradually bearing fruits in terms of growing confidence in the emirate as a safe destination for travellers,” commented Gulf News.

In its editorial, the paper said that the positive performance of Dubai’s tourism comes as a beacon of hope at a time when tourism and associated industries have been facing an existential threat following long drawn shutdowns and extended flight bans caused by the spread of new and more infectious strains of Covid-19 virus in different parts of the world.

The paper quoted a recent report by the United Nations Conference on Trade and Development (UNCTAD) and the UN World Tourism Organisation (UNWTO), which showed that the impact of the Covid-19 on tourism could result in more than $4 trillion (AED14.68 trillion) loss to the global economy. “Clearly, the estimate based on losses caused by the pandemic’s direct impact on tourism and the ripple effect on related sectors, is worse than previously expected,” the paper noted.

The steep drop in tourist arrivals worldwide in 2020 resulted in a $2.4 trillion economic hit and a similar figure is likely this year depending on the uptake in Covid-19 vaccines.

“Amid such widespread gloom, Dubai’s tourism revival story is indeed matter of great solace for the rest of the world,” the paper went on to say. According to the data published by Dubai Tourism, the emirate received more than 1.7 million visitors between July and December 2020 from open markets and an additional two million visitors in the first five months of 2021.

Tourism is seen recovering faster in countries with high vaccination rates. “The UAE is a clear winner in this regard with the country emerging as the world’s most vaccinated nation,” the Dubai-based English language newspaper said.

As of July 9, the country had administered over 15.86 million vaccine doses. According to data released by the National Emergency Crisis and Disaster Management Authority (NCEMA), 64 percent of residents are fully vaccinated against Covid-19, while 74 percent have received at least one dose.

According to Bloomberg’s vaccine tracker data, the UAE has overtaken the Seychelles to become the most vaccinated country. Seychelles has administered enough doses to cover 71.7 per cent of its population.

“As Dubai gears up for Expo 2020, it is expected that the exceptional health standards will reinforce Dubai and the UAE’s stature as safe travel destination,” the paper concluded.

Government and agri-tech entrepreneurs can revitalise Indian agriculture, says ETILC members

By

BRL Editor

-

June 14, 2021

0

In the forthcoming Kharif season, India’s agriculture industry is expecting record production volumes. Agricultural production was unaffected in 2020, despite a spike in Covid-19 levels, and does not appear to be slowing down this year. The Union government anticipates an increase in demand from the agricultural sector and makes preparations to deliver seeds, fertilisers, and pesticides in sufficient quantities.

Even though legacy concerns for decades have plagued Indian agriculture, this display of record-high production occurs. Poor mechanisation, limited farmer education and awareness, insufficient storage, logistical challenges, and tiny landholdings are all factors that contribute to poor mechanisation. The industry’s efficiency is exceedingly low, as it employs nearly 60% of India’s population while contributing only 18% of the country’s GDP.

ETILC representatives from the industry examined aspects of the industry that needs to be restructured. It also examined the policies that need to be implemented to make a difference.

The top 75 cities in the world for entrepreneurship success include Mumbai, Bengaluru, and Delhi

By

BRL Editor

-

June 14, 2021

0

It takes a lot of work to start a company and keep it going. While hard effort, patience, and competence are required to start a firm, there are many more underlying and linked factors to consider, such as economic freedom, the logistical environment, and government support.

According to a recent survey conducted by e-commerce assistance platform Oberlo, Mumbai (45), Bengaluru (52), and Delhi (58) are among the top 75 cities for entrepreneurial success. However, the metric evaluation revealed that Mumbai (72), Bengaluru (73) and Delhi (74) are the weakest among the 75 cities when it comes to facilitating women’s entrepreneurship.

The three metros also perform poorly in economic freedom, with Mumbai ranking 70th, Bengaluru 71st, and Delhi 72nd.

When it comes to human tech capital, which considers the number of information and communication graduates and the number of information and communication graduates per 100,000 people, things aren’t all that different. Delhi retains a substantial lead in this one and ranks eighth, while Bengaluru and Mumbai drop to 13th and 14th, respectively.

Kerala, Uttarakhand, and Goa making the most of the increased borrowing limit

By

BRL Editor

-

June 14, 2021

0

The centre recently went above and beyond its bounds to show progress in executing four significant reforms, including seeding Aadhaar-based distribution cards and the direct transfer of earnings to farmers in states where they received free electricity.

Kerala, Goa, and Uttarakhand are the prominent states that have adopted all four reform initiatives. In contrast, Andhra Pradesh, Orissa, Madhya Pradesh, and Telangana have adopted at least three of the four measures. According to sources, West Bengal has refused to cooperate, and Maharashtra has also declined to request a rise in borrowing limits.

By deploying country distribution card schemes, digitising licence renewals under 12 commercial regulations, and inspecting select industries, four sets of reform initiatives reduce government discretion to facilitate trade. It also introduced a randomised procedure to streamline power subsidies to farmers via DBT and property and sewerage taxes for urban local governments.

Each of these factors contributes 25% to the approval of increased borrowing limits in the matrix. So far, 37,600 rupees have been approved for the nationalised distribution card system, and 39,521 rupees have been approved for the ease of business law enforcement.

Unlike the capital expenditures programme under Aatma Nirbhar Bharat, which is connected to a specific capital-intensive project, the state is free to employ the borrowed funds for any reason once approved.

US lawmaker says India has the fastest-growing FinTech market, beating the United States in terms of financial innovation

By

BRL Editor

-

June 14, 2021

0

WASHINGTON: Senator Steve Daines, a Republican, claims that India is the world’s fastest-growing FinTech market and is far ahead of the United States in terms of financial innovation. According to the senator from Montana, China has established a digital Yuan, which they believe could one day supersede the dollar as the world’s primary reserve currency.

Daines claimed that India is one of the world’s fastest-growing FinTech markets. India processed $25.5 billion in real-time payments in 2020, compared to $15.7 billion in China.

“At this stage, the United States has fallen behind even India and China with respect to digital currency technology. And the competition for commercial services internationally is very important,” said Darrell Duffie, the Adams Distinguished Professor of Management and Professor of Finance at Stanford Graduate School of Business

The integration of blockchain technology with tokenized money might usher in a world substantially different from the one we know today, according to Christopher Giancarlo, former Chairman of the US Commodity Futures Trading Commission.

India’s largest bitcoin exchange WazirX receives a FEMA notice from the ED

By

BRL Editor

-

June 14, 2021

0

NEW DELHI: The Enforcement Directorate said on Friday that it had issued a show-cause notice to the country’s largest cryptocurrency exchange for allegedly violating the Foreign Exchange Management Act by conducting transactions worth over Rs 2,790 crore (FEMA).

WazirX was incorporated in December 2017 as a domestic cryptocurrency start-up under the name Zanmai Labs Pvt Ltd, its directors Nischal Shetty and Hanuman Mhatre, and the firm was mentioned in the notice given by the central investigate agency after the investigation was completed.

According to the agency, the company’s activities were discovered amid an ongoing money-laundering investigation into “Chinese-owned” unlawful internet betting programmes. The ED issued a show-cause notice for transactions totalling Rs 2,790.74 crore.

WazirX clients were found to be able to send ‘valuable’ cryptocurrency to anyone, regardless of their location or nationality, “without” any required documents, the agency claimed, making it a haven for individuals wishing to engage in money laundering and other illegal activities.

Official sources said the company was served with a show-cause notice after an inquiry into the alleged violations, which were found to breach the FEMA.

The Indian government has stated that it is willing to assess and investigate emerging technologies such as cryptocurrency to improve governance.

A bill in this regard might be tabled in Parliament, and proposals from a high-level internal ministerial committee on digital currencies might be included.

IKEA will help suppliers in India, China, and Poland in making the transition to sustainable energy

By

BRL Editor

-

June 14, 2021

0

IKEA, the Swedish home furnishings retailer, announced on Thursday that it would establish a programme in India, Poland, and China this year to assist suppliers in making the transition to 100% renewable energy. IKEA said in a statement that under this plan, the business would invest in and help nearly 1,600 direct suppliers.

Throughout the whole value chain, IKEA strives for 100% renewable energy. According to the company, these suppliers will save 670,000 tons of carbon per year by switching to renewable electricity, which is around 3% of the total climate impact of the IKEA value chain.

India is one of IKEA’s largest purchasing countries, with roughly 50 suppliers.

The programme contributes to IKEA’s long-term goal of becoming climate positive by 2030 by cutting greenhouse gas emissions more than the value chain emits while growing the company.

Currently, IKEA suppliers cannot generate all of their renewable electricity on-site; the bulk must be purchased from the grid. IKEA will provide a complete package of support to suppliers who want to generate renewable energy on-site and buy the rest from the grid through this initiative.

IKEA presently uses 51% renewable energy in its stores, offices, warehouses, factories, and other businesses.

Pay more at other bank ATMs as the RBI raises the interchange fee

By

BRL Editor

-

June 14, 2021

0

With effect from August 1, 2021, the Reserve Bank of India (RBI) has increased the interchange fee per transaction at ATMs (automated teller machines) from Rs 15 to Rs 17 for financial transactions and from Rs 5 to Rs 6 for non-financial transactions.

In a statement, the RBI stated, “The recommendations of the Committee have been comprehensively examined. It is also observed that the last change in interchange fee structure for ATM transactions was in August 2012, while the charges payable by customers were last revised in August 2014. A substantial time has thus elapsed since these fees were last changed.”

The customer charge ceiling/cap, which was previously Rs 20 per transaction, has now been raised to Rs 21 per transaction. This hike will take effect on January 1, 2022, to account for the more significant interchange outlay for banks.

RBI also mentioned,” These instructions shall also apply to transactions done at cash recycler machines, other than for cash deposit transactions.”

Customers are still eligible for five free transactions per month from their bank’s ATMs, including both financial and non-financial transactions. They are also eligible for free transactions from other bank ATMs, including financial and non-financial transactions, up to three in metro areas and five in non-metro regions.

Using other banks’ ATMs in addition to these free transactions will now be more expensive. Private banks and white label ATM operators have been requesting an increase in the interchange fee to Rs 18 for years.

The RBI’s revisions are based on the recommendations of a committee established in June 2019 under the chairmanship of the Indian Banks’ Association’s Chief Executive to review the full spectrum of ATM charges, with a particular focus on the interchange structure for ATM transactions.

British authority to investigate Amazon’s usage of data

By

BRL Editor

-

June 14, 2021

0

Britain’s competition authority considers a formal antitrust probe into e-commerce company Amazon.com Inc, citing three unidentified people familiar with the issue.

The Competition and Markets Authority has been looking into Amazon’s operation for months, with the regulator focused on how the online retailer utilizes the data it obtains on its platform.

The regulator has also looked at how Amazon chooses which merchants display in the key ‘purchase box,’ which is the white panel to the right of a product where customers click to add it to their basket.

According to the sources, an investigation into Amazon could focus on whether the business favours merchants that also use its logistics and shipping services when selecting who has access to the buy box and its Prime users.

The investigation was anticipated to cover similar terrain to inquiries currently underway in the European Union. Two investigations against Amazon are presently underway in Brussels: one is looking at how the business is exploiting data to promote its products at the expense of competitors. The other is looking into the criteria for using the purchase box.

CONNECT WITH US