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Emirates News Agency – Dubai Financial Market launches new general index in line with international best practices
Monday, November 21, 2022 – 11:26 am
DUBAI, 21st November, 2018 (WAM) — The Dubai Financial Market today announced the launch of the new generic index for the market, the culmination of a comprehensive development process for its index methodology, aiming to provide all traders with global indices that are easy to trade and are to be invested according to them. The global company “S&P Dow Jones Indisys” has taken on the role of “Index Calculation Agent”.
Many improvements have been made to the methodology of the DFM indices, such as setting the maximum weight of all companies included in the index sample at 10%, rebalancing the index on a quarterly basis and having an independent expert committee monitor the index methodology and future changes the index is made to calculated on the basis of the market value of the shares actually available for trading. In addition to the Sharia Index, the new methodology was also applied to the eight sector indices.
Dubai Financial Market organized a special ceremony to ring the bell to mark this achievement, attended by Hamed Ali, CEO of Dubai Financial Market and Nasdaq Dubai, and Charbel Azzi, President of Asia Pacific, Middle East, and Africa , S&P Dow Jones Indisys, along with other prominent representatives from both sides.
The Dubai Financial Market had allowed all traders to give their opinion on the new methodology for its indicators before adopting its final version during a consultation period between October 3rd and 17th, 2022.
Hamed Ali said: “This important development step reflects Dubai Financial Market’s firm commitment to continuously improve its services as part of the strategic plan for the development of financial markets in Dubai and in line with the increasing demand from all categories of investors about the investment opportunities that it offers. By developing indices, we have been able to ensure that market indices methodology and classifications follow international best practices, allowing our growing base of local and international traders to benefit from transparent indices of the equity and futures markets in the Dubai financial market. We would like to thank S&P Dow Jones Indys for working with us to accomplish this step by providing the Index Calculation Agent service.
For his part, Charbel Azzi said: “We are delighted that Dubai Financial Market has chosen S&P Dow Jones Indices to provide the agent service for the calculation of its indices. Our goal is to provide unique and rules-based index solutions that meet the needs of local markets and help market participants achieve their investment goals.”
The main changes and additions to the DFM indices methodology are as follows:
Reducing the maximum weight of a company included in the index sample to just 10% instead of 20%, helping to limit the impact of a small number of companies on the index.
– Calculation of the index based on the market value of shares actually available for trading.
– Index rebalancing on a quarterly basis instead of the semi-annual review.
– An independent technical committee oversees the index methodology and future changes.
– Adoption of market sectors according to the Global Sector Classification Standard (GICS), followed by international investment institutions.
– The new methodology includes eight sector indicators, namely: the telecom sector, the consumer goods sector, the basic materials sector, the real estate sector, the public utilities sector, the financial sector, the industrial sector and the consumer services sector.
Dina Omar / Ramy Samih
#Emirates #News #Agency #Dubai #Financial #Market #launches #general #index #line #international #practices


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We shouldn’t forget it’s Saturday and even if we work we need to blow some steam off from time to time. So has came to our attention that Rockstar Games, patrons of the beloved GTA (Grand Theft Auto, you really don’t know that?!) just released a new official trailer.
The acclaimed video game franchise is gathering its strength for the fifth release in the series, which goes into the wild on the Xbox 360 and PlayStation 3 on September 17. As usual, it promises to be bigger and better than previous iterations, as GTA V will tell the story of “three very different criminals” that go by the name of Michael, Franklin and Trevor who will “plot their own chances of survival and success.” Judging by their previous work, we tend to agree – by all means we can just imagine the future vastness of the open world concept they implemented.
The action will take place in the familiar city of Los Santos that is being described by Rockstar as a “sprawling metropolis full of self-help gurus, starlets and fading celebrities struggling to stay afloat in an era of economic uncertainty and cheap cable TV.”
GTA V’s multiplayer feature will allow up to 16 players to engage in a wide variety of activities such as bank heists and races. The multiplayer service will be available starting October 1, 2013. We also expect the PC version and the ones for the Xbox One and PS 4 to be in the works, due for a timely 2014 release.

domain: news


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Yahoo Inc. is looking to supplement its stagnant advertising business with a new foray into legal online gambling.
The Internet company on Wednesday unveiled a retooled version of its fantasy-sports mobile app that lets users wager real money daily and weekly against their friends and in bigger online tournaments. Yahoo will keep about 10% of the entry fees paid by players, Ken Fuchs, vice president of publisher products at Yahoo, said during an event announcing the app.
The new game marks Yahoo’s attempt to make money from a booming industry that has taken advantage of loosening regulations around online wagering. Unlike poker and sports betting, fantasy sports are exempt from the Unlawful Internet Gambling Enforcement Act of 2006 because they involve skill and not just chance, though some states still restrict these services.
Yahoo said playing its Daily Fantasy game is legal in 45 states—all but Iowa, Arizona, Washington, Montana and Louisiana.
Fantasy Sports Now Legal in Kansas Kansas State Governor Sam Brownback has signed a bill that will legalise fantasy sports gaming activities in the US state.
Having received heavy support from the public and government figures, Bill HB 2155 was passed in the state senate by a vote of 37-1.
Signed by Governor […]
New York Lawsuit to Stop Fantasy Sports The constitutionality of a new law legalizing and regulating daily fantasy sports in New York is being challenged in court, according to the group Stop Predatory Gambling.
According to SPG, a group of New York citizens filed a lawsuit with the New York State Supreme Court on Wednesday. […]
ESPN Inks Deal with DraftKings DraftKings has agreed a deal to become the official daily fantasy sports offering across all platforms operated by US sports broadcaster and Disney subsidiary ESPN.
Under the agreement, the terms of which were not disclosed, both companies will benefit from branding and promotional […]


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Bobby Kotick, chief executive at video game publisher
Kotick, Activision Chairman Brian Kelly and their group ended up buying a $2.3-billion stake in Activision from Vivendi SA in a deal that other Activision shareholders are targeting in a lawsuit.
Last month, a Delaware judge ruled that the lawsuit should move forward because shareholders had raised legitimate concerns about how Activision's board handled the buyout of Vivendi SA's stake. The shareholders alleged that Kotick's group should have paid a premium and that Kotick and Kelly have too much control over the company.
An amended complaint filed last month says Vivendi executives, including one who served as Activision chairman, considered ousting Kotick during the sale discussions. Bloomberg reported news of the new details on Wednesday.
The complaint cites emails in which then-Activision chairman and Vivendi executive Phillipe
Kotick, CEO since 1991, had also threatened to quit if he didn't get his way in the sale, according to court filings.
In a statement, a spokesperson for the Activision board said that directors believe Kotick and Kelly "are the most effective executives in the interactive entertainment industry."
The statement continued, "The recent transaction restructuring the company's ownership has received widespread market support and has proven beneficial to the company and all of its shareholders."


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PETALING JAYA (May 15): Amway (M) Holdings Bhd said its RM1 billion sales target by 2015 "is no longer relevant" as the consumer products distributor contends with Malaysia's goods and services tax (GST) and a weaker ringgit versus the US dollar.
Amway (valuation: 1.5; fundamental: 2.5) executive director Yee Kee Bing said slow revenue growth had pushed the company's RM1 billion sales aim to another three to five years.
“If you look at our sales growth this year, it is not going to (be possible). When we set the aspirational goal in 2012/13, we shared with our distributors that if we want to grow to RM1 billion on a short-term basis, we have to do 10% growth every year.
“Since our growth in the last two years, if you do a calculation, you will know based on our growth rate when we are expected to hit RM1 billion. We had the target date but it is no longer relevant," Yee told reporters after Amway’s annual general meeting today.
In current financial year ending December 31, 2015 (FY15), he said Amway expected Malaysia's GST and and a weaker ringgit versus the US dollar to have a negative impact on the company's revenue growth and profitability.
The GST is expected to affect Malaysian consumer sentiment while a weaker ringgit makes Amway's imports from the US more expensive.
“About 80% to 85% of our products come from our headquarters in US and is transacted in dollars. We have an internal annual hedging process agreed with our suppliers based on an average rate provided by a consortium of 14 banks.
“We work with our parent company and look at the projection and fix that rate which is used throughout the year. If it goes higher or lower, the risk is absorbed by our head office,” he said.
Amway's profit has weakened. In FY14, the group recorded a RM99.95 million net profit compared to RM109.08 million a year earlier. Revenue was however higher at RM855.8 million versus RM834.22 million.
Today, Amway is expected to announce its 1QFY15 results after 5pm market close.
At 12.30pm, Amway shares rose 10 sen or 1% to RM10.84 for a market capitalisation of RM1.78 billion.
The stock had gained 6% this year compared to the FBM KLCI's 2% rise
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)


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VTT Technical Research Centre of Finland, the leading multi-technological applied research organisation in Northern Europe, has developed an optical accessory that turns an ordinary camera phone into a high-resolution microscope. The device is accurate to one hundredth of a millimetre.
Among those who will benefit from the device are the printing industry, consumers, the security business, and even health care professionals. A new Finnish enterprise called KeepLoop Oy and VTT are already exploring the commercial potential of the invention. The first industrial applications and consumer models will be released in early 2012.
The operation of the device is based on images produced by the combined effect of an LED light and an optical lens. Various surfaces and structures can be examined in microscopic detail and the phone's camera used to take sharp, high-resolution images that can be forwarded as MMS messages.
The competitive edge of the product is based on next-generation lens technology, the compact and user-friendly structure, and customisable extra features.
The mobile phone microscope is suited for examining surfaces and surroundings, for security, health care, and even games
The mobile phone microscope could also be used to study surface formations, especially in the printing industry as part of quality control and in field conditions. In the security business the device could be used, for example, to read microcode in various logistics systems, while it is also suited for studying security markings, and for authenticating products as genuine as part of brand protection. The microscope is capable of detecting hidden symbols in products that are not visible to the naked eye.
The device can also be applied to study of the environment. Consumers could use the instant microscope when out and about to examine the leaves of trees and plants, for example, or study insects. Another potential application is in examining textile structures such as strands of hair, or the fibrous structure of paper.
The device also has uses in social media, and in community-based hybrid media where traditional forms of media are used in combination with each other. There are also several potential applications in the gaming world.
Further information:VTT Technical Research Centre of Finland
KeepLoop Oy is a new innovative company based in Tampere, Finland. The company develops optoelectronic accessories for mobile telephones around the world. The company's target groups are both the industrial sector and consumers. By working together, VTT Technical Research Centre of Finland and KeepLoop have been able to produce a package that combines the scientific study of technology and commercial potential.
Janne Suhonen | EurekAlert!
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One employee who works at an Olive Garden location shocked all of TikTok when he uploaded a video revealing a restraint industry insider secret. Although his bosses are not pleased that he spilled the beans regarding this little-known tactic, now that the world knows the truth, it changes everything. The TikTok user, who posts content under his handle “Dibbs,” revealed the restaurant industry secret about how they like to spy on their customers while they are dining inside the establishment.
“Imagine dining at the Olive Garden for four hours,” the young restaurant worker said in the video. Clearly, he knows exactly how long each diner has been in the establishment because the company has software tracking each party’s time at a table. This has shocked thousands of people on TikTok who never knew that restaurants were watching diners’ every move – and timing how long it took them to devour each item on the menu.
Olive Garden and many other restaurants use the software simply, so they know when they have to clean tables for the next guests. These companies are not tracking customer information, so they can exploit customers and get something more out of them. Instead, they want to know how long each party has sat at a table because it helps them manage the seating arrangement – especially during these COVID times – and get people in and out of the establishment faster than without the tracking software.
Nevertheless, people were shocked that Olive Garden watched the way they ate and how long it took them to do so.
“Wait … they time you?” one user wrote.
“They time us? BYE, IM ORDERING OUT INSTEAD,” another added.
“That changes everything,” another wrote.
Many people felt that Olive Garden was exploiting customers by doing this and that it was an “invasion of privacy.”
Another TikTok user, Shelby, was shocked that people did not know restaurants were tracking diners’ every move.
“I thought this was common knowledge,” Shelby said in a response clip that she uploaded. Her response has garnered more than 1.9 million views at this point, and more people keep tuning in to watch her talk about restaurant culture.
Shelby explained that Olive Garden and other restaurants use timers to help better estimate wait times for customers hoping to get a table.
“You can have ten tables that just sat down and have only been sitting there for five minutes — so that would put the wait time to about 45 minutes,” Shelby said. “But you could have ten tables that have been there for 45 minutes, and that could put the wait at, like, 10, 15 minutes.”
Although using a timer is logical, many TikTok users were clueless about this practice. They thought that hosts and hostesses just “guessed” how long it would take for a table to open up. They did not realize that these establishments were using high-powered software to track customers and to see how long it takes them to leave their table.
Did you know that restaurants like Olive Garden were tracking how long you sat at the table?
Every time you share an AWM story, you help build a home for a disabled veteran.


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Breakfast in Kabul, lunch in Lahore, tea in Delhi, and dinner in Dhaka can become a reality only by increasing trade and connectivity, according to a new World Bank report. By reducing man-made trade barriers, trade within South Asia can grow three times, from $23 billion to $67 billion.
The report ‘A Glass Half Full: The Promise of Regional Trade in South Asia,’ says that Bangladesh has the potential to more than double its trade with South Asian countries, thus creating more jobs for men and women in the workforce. The report was launched by Mr. AMA Muhith, Honorable Finance Minister, and Qimiao Fan, Country Director for Bangladesh, Bhutan, and Nepal. A panel discussion followed the report launch.
The Missing Potential
Intraregional trade in South Asia remains one of the lowest in the world and accounts for about five percent of region’s total trade. Bangladesh’s trade with South Asia is only nine percent of its global trade and it can more than double its trade with South Asia. “Bangladesh can become an economic powerhouse by deepening regional and global integration in trade, connectivity, energy and investment. For increased regional trade, the country needs to focus on improving its trade policy regime, which currently has a strong anti-export bias,” said Qimiao Fan, World Bank Country Director for Bangladesh, Bhutan, and Nepal.
The country is significantly undertrading with India ($10 billion), Pakistan ($540 million), and Sri Lanka ($420 million). Unrealized trade potential ultimately means that people are denied the benefits of cheaper goods – from a carton of milk to bananas – via proximity.


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Growth in the global car market was solid, if not spectacular, during 2015. There was strong demand in both Britain and America, in part because of low interest rates and improving consumer confidence. Although volumes are still below their pre-crisis levels, the EU had its best year for new car registrations since 2009, spurred on by good results in Italy and Spain. China, however, is experiencing a slowdown: the world’s biggest car market grew at its slowest pace in three years with luxury cars hit particularly hard due to a corruption crackdown and worries about growth. The falling number of new registrations in Brazil and Russia is no surprise given the abysmal state of their economies.
New passenger-car registrations
This article appeared in the Economic & financial indicators section of the print edition under the headline "New passenger-car registrations"
Economic & financial indicators January 23rd 2016
From the January 23rd 2016 edition
Discover stories from this section and more in the list of contentsExplore the edition


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The European Commission has launched the first ever EU-wide strategy to fight plastic waste.
It aims to ensure all plastic packaging is recyclable by 2030, the use of single-use plastics is reduced and the intentional use of microplastics is restricted.
Europeans generate around 25 million tonnes of plastic waste every year but less than 30% is collected for recycling.
Under the latest strategy, new rules on packaging will be developed to improve the recyclability of plastics used on the market and increase the demand for recycled plastic content.
The Commission will also provide guidance for national authorities and European businesses on how to minimise plastic waste at source, with an additional €100 million (£88m) for the development of smarter and more recyclable plastic materials.
It believes the new proposals will boost business opportunities by creating new recycling markets in Europe and change the way products are produced, designed and recycled.
First Vice President Frans Timmermans, responsible for sustainable development said: “If we don’t change the way we produce and use plastics, there will be more plastics than fish in our oceans by 2050. we must stop plastics getting into our water, our food and even our bodies.
“The only long term solution is to reduce plastic waste by recycling and reusing more. This is a challenge that citizens, industry and governments must tackle together.”
Earlier this month, UK Prime Minister Theresa May also set out a 25-year plan to reduce plastic waste.


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Wednesday marked the start of the much-discussed NAFTA renegotiations, and though President Trump has so far been quiet on the Twitter front with regard to these talks, U.S. Trade Representative Robert Lighthizer took an opportunity at the start of the talks to touch on areas in the agreement the administration intends to modernize.
“First, I know we all agree that NAFTA needs updating. This is a 23-year-old agreement and our economies are very different than they were in the 1990s,” Lighthizer said in an opening statement Wednesday. “We need to modernize or create provisions which protect digital trade and services trade, e-commerce, update customs procedures, protect intellectual property, improve energy provisions, enhance transparency rules, and promote science-based agricultural trade.”
Never missing an opportunity to belabor the trade deficit point, Lighthizer said NAFTA has failed Americans.
“We cannot ignore the huge trade deficits, the lost manufacturing jobs, the businesses that have closed or moved because of incentives—intended or not—in the current agreement,” he said.
According to the USTR, the U.S. government has certified that at least 700,000 Americans have lost their jobs because of NAFTA, and as Lighthizer explained, many people think the number is “much, much bigger” than that.
“In 1993, when NAFTA was approved, the United States and Mexico experienced relatively balanced trade. However since then, we have had persistent trade deficits—in the last year totaling nearly $57 billion,” Lighthizer continued in his statement. “In recent years, we have seen some improvement in our trade balance with Canada. But over the last 10 years, our deficit in goods has exceeded $365 billion.”
Though Trump has shifted from calling for a complete withdrawal from NAFTA if the deal couldn’t be done right, to saying he’d only make “tweaks,” Lighthizer emphasized that the changes won’t likely be small ones.
“The views of the president about NAFTA, which I completely share, are well known. I want to be clear that he is not interested in a mere tweaking of a few provisions and a couple of updated chapters,” Lighthizer said. “We feel that NAFTA has fundamentally failed many, many Americans and needs major improvement.”
For one, as Lighthizer continued, the “huge” trade deficits have got to stop and they’ll be reviewed periodically to ensure “balance and reciprocity.”
Turning to rules of origin, which has been the point keeping retailers up at night, it seems Trump may not go the way they wanted.
In a letter to Lighthizer in July, the National Retail Federation outlined what its members want to see out of the NAFTA renegotiations, emphasizing that rules of origin should not be made more burdensome than they already are.
[Read more about retailers’ hopes for NAFTA: Retailers Tell USTR What They Want From NAFTA]
On Wednesday, however, Lighthizer said, “Rules of origin, particularly on autos and auto parts, must require higher NAFTA content and substantial U.S. content. Country of origin should be verified, not ‘deemed.’”
Beyond that, Lighthizer said labor provisions should be “as strong as possible,” protections should be included to prevent currency manipulation and market disorienting practices like third-party dumping.
“These are just a few examples of key priorities for the United States—but I think they are sufficient to show that our task is a very difficult one,” Lighthizer said. “On the other hand, the stakes are higher for all of our citizens and the benefits of a good agreement can be substantial.”
Price may be king but convenience governs much of the way traditional retailers are thinking about their customers today.Read more
Textile companies are delving deeper into product development to create fibers and fabrics that help regulate temperature and deal with extreme weather conditions.Read more
The Bangladesh Garment Manufacturers and Exporters Association wants to establish more reasonable wage standards for the country’s ready-made garment sector—and any potential shifts could come with a wage hike, too. The BGMEA has asked the government to form a wage board for workers in order……...Read more
Consumer prices rose by an expected rate in October compared to a year ago, the result of a retreat in energy prices that had spiked at the end of hurricane season, plus flat food prices. Apparel prices dropped slightly year-over-year.Read more
This year hasn’t been an easy one for trade, with deals becoming defunct or upended, Brexit remaining an ongoing riddle and weather-related catastrophes disrupting global supply chains. Apart from the stress these market forces may have induced, they’ve also served as a reminder that agility is in higher demand than ever before.Read more
Bangladesh has its sights set on fostering substantial growth in its leather manufacturing sector.Read more
Brandix, one of Sri Lanka’s leading exporters, has signed a joint venture agreement with global synthetic materials manufacturer Best Pacific of Hong Kong to produce synthetic fabric and webbing.Read more


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According to Mr. Do Quoc Huy, Marketing Director of Saigon Co.op, his company has signed a production and underwriting contract of more than 6.5 million antimicrobial face masks with Dong Xuan Knitting Company (Doximex). From February 13, the retail distribution channel of Saigon Co.op will sell around 200,000 antimicrobial face masks and more than 100,000 medical face masks per day.
Similarly, Big C supermarket also ensures the supply of about 500,000 medical face masks and 120,000 hand sanitizers. Satra provides its supermarkets and convenience stores an average of 40,000-60,000 face masks daily. Lotte said that it still supplies face masks for 26,000-30,000 pieces per day.
As for e-commerce channels, Tiki informed that it has been collaborating with Diana Unicharm to increase the production of three-ply face masks to 10 times higher to meet the demand. At the same time, it will join hands with Mayan and Perfetta to expand the list of high-class three-ply medical face mask product lines.
Currently, supermarkets have stipulated that each person should not buy more than a box of face masks per shopping bill. However, it is difficult to control the shopping frequency and shopping quantity of customers. Many supermarkets said that there was a situation that many people went to the supermarket several times to buy face masks to resell. According to many distribution channels, it is difficult to increase the supply of face masks and hand sanitizers to cool off the demand for these items. They have been working with manufacturers but the supply capacity is limited. Imports of these items are unfeasible as other countries also focus on meeting domestic demand so they limit exports of these items.
From the perspective of manufacturers, Mr. Nguyen Xuan Hong, Chairman of the Ho Chi Minh City Textile and Garment - Embroidery Association, said that face mask is not a product with high consumption in the market so there are a few manufacturers. Due to the outbreak of the novel coronavirus, the demand for medical face masks jumped suddenly so in a short time, manufacturers cannot meet the demand. However, obviously, the demand for face masks cannot be met if people continue to be panic and stockpile face masks strongly as currently.
Sharing the same point of view, the Vietnam National Textile and Garment Group (Vinatex) said that the current capacity of antimicrobial face masks of Vinatex is at 320,000-350,000 masks per day. By February 17, this figure is expected to reach 450,000-500,000 masks per day.
Currently, associations also encouraged garment and textile enterprises to shift a part of their production lines to produce antimicrobial and medical face masks, but it is difficult to carry out in a short time as raw material supply is scarce and the price of raw materials is at high levels. Therefore, to soothe the face mask buying frenzy, authorities need to help enterprises to access to the source of raw materials, creating favorable conditions for transporting raw materials to domestic enterprises. At the same time, authorities should punish strictly stores that sell face masks at high prices or show signs of speculation.


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It’s 5 o’clock, and you’re leaving the office in search of some post-work libations and snacks before dinner. You could go the traditional happy hour route — where you’re limited to a few drinks and small bites within a short window of time — or you could up the ante and visit a Japanese izakaya.
Tag: four barrel coffee
The Bay Area has been at the forefront of a coffee renaissance in recent years, and local boutique companies like Blue Bottle, Ritual and Four Barrel are now spreading their roasting philosophy — and their coffee beans — across the country. KQED’s Forum talks to some of the entrepreneurs behind the so-called “third-wave” coffee movement.
And, although you can still enjoy those rich dark roasts provided by Caffé Trieste and Peet’s today, the Bay Area is once again at the forefront of coffee roasting in the U.S., this time to a new generation of roasters who are myopically focused on finding the finest single-origin coffees, paying a more than fair price for the beans, and then roasting them for their own unique qualities.


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C Spire Wireless Launches
by Stephen McDill
Published: September 27,2011
RIDGELAND- C Spire Wireless, the country’s largest privately-owned wireless provider, launched retail operations in its own Ridgeland backyard on Monday. MBJ-TV caught up with spokesman Dave Miller who explains how the company, previously known as Cellular South, chose its new name.
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Confused about the Huawei/Google thing?
You don’t need to worry - just yet.
You’ll still have Google Maps, and your G-suite apps won’t die on your smartphone’s home screen.
But there could be trouble on the way as Google continues “reviewing the implications” of a US government order not to do business with the Chinese telco.
The ban was revealed on Monday, after Huawei last week was added to an “entity list” by the US Department of Commerce, restricting the sale of American technologies to it.
The US government body accused Huawei of “activities that are contrary to US national security or foreign policy interest”.
It is being seen in the context of an ongoing trade war between the US and China, with US President Donald Trump’s administration already having imposed a series of tariffs on Chinese exports.
On Monday morning, Google said in a statement that it was “complying with the order and reviewing the implications”.
On Twitter, the tech titan later assured Huawei users through its Android handle that “while we are complying with all US gov’t requirements, services like Google Play & security from Google Play Protect will keep functioning on your existing Huawei device”.
Finder.com.au tech and telco editor Alex Kidman said the US government-driven Google order applied to future phones, as those already in use were “approved” for Google apps.
“So if you are an Aussie who has a Huawei phone that is already an approved device,” Kidman said.
But he noted that because Google was still working through the implications of the addition of Huawei to the entity list, it was not known if authorisation may be withdrawn.
‘If the law compels them to revoke access ... it could be a different story.’
“If the law compels them to revoke that access then it could be a different story.
“If they do, then you could see those services unable to be accessed from that phone, or apps from the Play Store,” he said.
But Google will no longer be working to support or collaborate with Huawei so there may be some disruption down the track.
Ban shouldn’t last
And WhistleOut phone comparison site publisher Joseph Hanlon warned that local Huawei phones would not be receiving Android OS updates.
“This is a blow, but doesn’t affect Aussies with Huawei phones too much,” he said.
“My guess is that Huawei will pick up the slack in getting these security updates out to its customers.”
Meanwhile, tech analysis firm Telsyte managing director Foad Fadaghi says he does not expect the ban to last.
‘It is more like Huawei is in the sin bin.’
“It is more like Huawei is in the sin bin, it’s not necessarily a situation that will see Huawei banned forever, so no panic stations yet for users,” he said.
“It might take some time to play out, but I don’t think in the long run Google can afford to lose the Huawei base of Google Play Store and Google app users.”
Too big to block?
Huawei now has a 19 per cent share of the global smartphone market, second only to Samsung.
And in the year to the end of March 2019, it had more than 50 per cent growth in its sales while Apple dropped by more than 30 per cent and Samsung took an 8 per cent tumble.
“It is a symbiotic relationship because Google does not want to lose millions of Huawei users around the world, especially in Europe,” Fadaghi said.
But in Australia, Hanlon warns the Chinese telco could be in danger of losing hard-won market share because of the cloud the Google ban had now cast over the brand.
He said the Mate and P Series phones had become very popular in the Australian market.
“But we’re a very carrier-driven market, so if they can’t convince Optus and Vodafone to carry their stock, they will lose their market,” Hanlon said.
“They’ve only just started getting some momentum, but they will lose it.”
Huawei has been approached for comment.


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Dell said it expects to fund the deal through a combination of new common equity from Chief Executive Michael Dell, Silver Lake and others, the issuance of tracking stock, new debt financing and cash on hand, The Wall Street Journal wrote.
There are no financing conditions for the closing of the transaction, Dell said. Dell recently reported that it had about $12 billion of debt.
EMC's agreed-upon $67 billion sale to Dell would be a big deal in activism. The deal would rank second by value to Allergan's $73 billion sale, completed in March, as the biggest deal since 2009 to follow activism, according to WSJ's Activism Report Card.
The EMC-Dell deal, if completed, would create the largest privately held tech company. Chip maker Avago Technologies Ltd.'s pending $37 billion agreement to buy Broadcom Corp. is the next-biggest pure-tech takeover ever struck.


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Considering our stats I am getting a feeling we might be able to pass the 100-person barrier at the Lahore event.
This would be particularly true since the Lahore Startup Insiders session is now co-sponsored by Vahzay Software and Naseeb Networks / Rozee.
The event is still being held at the Vahzay site at 19-A1, E-II, Gulberg-III, Lahore
The total panelists for the event so far include:
- Zia Imran, CEO of VahZay– The product bootstrapping expert with a strong sense of designing killer products
- Monis Rehman, CEO of Naseeb Networks / ROZEE – Just raised a Series B Venture financing round from US VCs
- Fahd Bangash, CEO Amaana – Held a successful one year beta, and recently raised capital and started transitioning out of beta. Experts on system software
- Osama Hashmi, CEO, CDF Software & Founder Green & White – Me
- Faisal Qureshi, CEO of Kolachi Advanced Technologies & Chairman of P@SHA – Walks, Talks, Thinks Inspirational leadership; Can sell you an idea in 30 seconds or less
- Jehan Ara, President of P@SHA – The passion behind these initiatives
We’re still trying to get more entrepreneurs signed up and if we find them I’ll either update this post or surprise you guys.
Lots of coffee, snacks and food for thought.
But come with an open mind – Dont waste everyone’s time if you arent willing to listen to another point of view without wanting to criticize them
It should certainly be an evening where everyone including the panelists will learn from each other.


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Business News from Sri Lanka: DETROIT – U.S. auto sales during the third quarter for the Big Three Detroit manufacturers were mixed with General Motors pulling ahead of the pack. A falloff in demand for Ford’s popular pickups drove a decline in its overall sales.
GM’s U.S. sales rose 6.3% in the third quarter over the same period last year while Ford Motor’s sank by 4.9% and Fiat Chrysler’s were flat, according to data release Wednesday by the three automakers.
Shares of all three were all trading in the red Wednesday afternoon amid a broader market downturn. The Institute for Supply Management released a weak manufacturing report Tuesday that showed a possible economic slowdown attributed to the escalating trade war.
Shares of GM, which is in the middle of a union strike, tumbled by about 4% Wednesday afternoon. Ford and Fiat Chrysler were both down by about 3%.
Cox Automotive reports U.S. auto sales were estimated to be down 11.7% in September, dragging industry sales down 1.4% through the first nine months of the year.
Pickups dominated Wednesday’s car data. GM’s redesigned Chevrolet Silverado and GMC Sierra pickups saw double-digit sales increases that helped offset a 38% declines in car sales. The company’s overall truck sales, which include SUVs and vans, rose 8.8% during the quarter. Sales of crossovers also increased by 28.3% for the quarter, largely thanks to the introduction of new models.
Ford, meanwhile, saw sales of its highly-profitable F-Series pickup line tumble 6% in the quarter, dragging the truck’s sales during the first nine months of the year down 2.4% as the company competes against newer models from GM and Fiat Chrysler.


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Starcraft RV announced a new licensing agreement with Haas Outdoors Inc. dba Mossy Oak, a market leader in outdoor, hunting and recreation lifestyle products. The agreement establishes Starcraft RV, a division of Jayco Inc., as the sole manufacturer of Mossy Oak branded recreational vehicle products for distribution throughout North America.
According to a press release, the partnership maximizes consumer demographics shared by the two companies. Known first and foremost as a camouflage brand, Mossy Oak’s core consumer not only wears Mossy Oak brand products for concealment in the woods, but as a representation of their love for the outdoors, recreation, and the hunting lifestyle in their daily lives. Starcraft recreational vehicle owners are outdoor lovers, adventure seekers and boundary pushers who enjoy camping, pure and simple.
The product line will feature proprietary Mossy Oak exterior graphics and interior décor. The Starcraft RV exclusive product will be available in fall/winter of 2017.
“We’re ecstatic to enter into this partnership with Mossy Oak, which will allow us to market a product line that resonates with a passionate, outdoor-loving group of consumers,” stated Marc Hauser, vice president of sales and product development for the towable divisions of Jayco, a subsidiary of Thor Industries Inc. “Our companies share many similar values, including producing high-quality products intended to be used in all aspects of the outdoor lifestyle. Aligning our businesses to deliver this exclusive product was a perfect fit.”
Hauser continued, “Working directly with Cuz Strickland, a legend in the outdoor and hunting industry, and the team at Mossy Oak in the development of this product is an honor. We truly feel blessed to be a part of this project. “
“Today’s outdoorsman is more mobile than ever. From changing hunting leases near home to cross country adventures, moving around is commonplace,” shared Toxey Haas, founder and CEO of Mossy Oak. “The people at Starcraft realized that fact because, as we found out, many of them were already serious outdoor enthusiasts. Combining our two brands to design the perfect RVs for sportsmen was as natural as the surroundings outdoors people crave. New innovations that will make their outdoor RVs more useful and practical from two companies that truly know what it takes to be at home in nature”.


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COVID-19, also known as SARS-CoV-2 or the coronavirus, has up-ended the majority of the United States economy. Everything except for essential businesses are supposed to be closed, and what is defined as essential varies from state to state. If you’re part of the cannabis industry, that may mean that you’re struggling to figure out how to run your dispensary from quarantine.
Here are some tips and tricks to help you stay afloat as we face the COVID-19 crisis.
Essential Or Not?
In the states that have implemented shelter-in-place or stay-at-home orders, each governor has released a list that details what businesses are considered ‘essential’ and allowed to stay open, and under what circumstances.
Some, like restaurants and bars that serve food, are allowed to remain open for take-out and delivery orders but customers aren’t allowed to dine-in. Others, like hair and nail salons, have to close for the duration of these orders to help slow the spread of the virus.
Where does that leave dispensaries? That depends on the state, so make sure you’re checking with your local or state government before you start making decisions.
In some states, especially those that only allow cannabis for medical use, dispensaries are considered essential because they’re part of the healthcare sector.
In other states that allow for both medical and recreational use, medical dispensaries are allowed to stay open while recreational ones are limited to curbside pickup. Still others, like Massachusetts, have closed their dispensaries altogether.
From The Office or From Home?
Should you be working from your dispensary or from a home office? That, too, depends on the state you’re located in.
You may be in Colorado, running a recreational dispensary that is limited to curbside pickup. Or you might be in a state like Pennsylvania that is allowing dispensary owners to run their businesses out of their own homes – at least temporarily.
The state expanded the definition of the word caregiver so that dispensary owners could serve an unlimited number of patients without needing to seek out specific licensing.
It also allows for curbside pickup and even home delivery in some cases, though the latter isn’t strictly allowed. If you’re able to work from home during this crisis, what should you know?
Setting Up Your Home Office
Working from home isn’t as easy as plugging in a computer and turning it on, especially in states where cannabis is permitted for medical use because you’ve also got HIPAA compliance to worry about.
You will need a variety of tools to keep your business moving, from hardware like computers and phones to software for accounting and inventory. If you need something set up quickly, GoogleVoice can provide everything from phone and text service to call forwarding to help you stay connected.
Make sure you have everything you need ready before you start accepting orders for delivery or pickup. This isn’t going to be something that you can or should take on lightly. One mistake, especially in the cannabis industry, can be incredibly costly.
Offer Streamlined Ordering
One challenge you might encounter shifting to a curbside pickup or delivery model is making sure that your customers can order the products that they need.
Make sure that you’ve got a streamlined ordering system that is easy for your customers to navigate. No matter how badly they need something, people don’t want to try and figure out how to work through a system that isn’t user friendly.
It might take some time to get your inventory listed on your website, but keeping your customers informed about what you have on hand and making it easier for them to access it can help keep your dispensary thriving even during these trying times.
Don’t Anticipate Federal Assistance
While the federal government is offering all sorts of assistance for small businesses, from helping them pay their bills to provide them with loans that don’t need to be paid back if they use them to continue paying their employees.
Unfortunately, for dispensary owners and those in the cannabis industry, assistance might be a long time in coming. The federal government still considered marijuana an illegal substance, so companies that are associated with the cannabis industry likely won’t be able to take advantage of the grants and loans that are designed to support small businesses.
That doesn’t mean that there aren’t ways for cannabis companies to help. The increase in sales has helped publicly traded companies that might have been struggling to increase the value of their stocks.
Some places, such as Canada, are looking to cannabis labs to help them cope with the backlog of COVID-19 tests that their researchers don’t have the time or supplies to complete.
This, Too, Shall Pass
When it comes down to it, in most states cannabis is considered essential, so you need to figure out a way to keep your dispensary running during these trying times.
It doesn’t have to be an enormous challenge if you’ve got the tools you need to keep things moving forward. The most important thing to remember is that this too shall pass. Eventually, we’ll get back to the normal swing of things.
All we can hope is that this unprecedented pandemic event helps to remind the government that cannabis is indeed an essential substance. While we’re not counting on it to change the hearts and minds of those currently in power, it could be a step in the right direction.


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The PUBG Mobile Korea restrictions, introduced in March and alleged to be applied beginning Could 1st, 2021, have been postponed.
PUBG Mobile KRJP (Korea and Japan) is without doubt one of the regional adaptions of the famend battle royale title. The sport has an enormous participant base and is even extensively performed by users outdoors the required areas as a result of abundance of in-game cosmetics.
In March, the developers of the particular variants introduced service restrictions for users from Abroad Areas, Excluding the Japan / Republic of Korea that will make the sport inaccessible by the top of June 2021.
These limitations have been set to be applied over the course of some weeks beginning Could 1st, 2021. Nevertheless, in one of many social media posts, PUBG Mobile Korea has introduced that these restrictions will likely be postponed.
Additionally learn: PUBG Mobile professionals react as PUBG Mobile India trailers by accident drop on YouTube
PUBG Mobile KR limitations for worldwide users postponed
The discover by the developers states the next:
“Expensive Users, that is from PUBG MOBILE. Limitations of Users out of Korea or Japan launched on Mar 31(Wed), 2021 could be postponed. The brand new execution time of the Limitations continues to be in adjusting and we are going to inform you of the fastened date later.”
In response to a discover on PUBG Mobile Japan’s web site, gamers will likely be knowledgeable in regards to the limitation as soon as the schedule for the identical has been confirmed. In the meantime, the phrases of use of the sport (added Article 19 (14)), which have been scheduled to be revised on June thirtieth, 2021, will likely be completed as introduced by the developers.
This utility and this service can be utilized solely from Japan and the Republic of Korea. We will be capable of decide your space of use by any methodology that we take into account cheap, corresponding to your IP handle.
This suggests that regardless of the rescheduling of the restrictions, PUBG Mobile Korea will ultimately develop into inaccessible for all of the users outdoors the area of Korea and Japan.
Additionally learn: WATCH: PUBG Mobile India’s deleted trailers that have been uploaded by accident on April twenty ninth


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Qatari projects showcased at Cityscape
The Pearl, Qatar, by United Development was one of the major features of this year’s Cityscape heldf in the country.
It is a mixed-use urban development in Doha which offers residential homes, retail and leisure facilities.
Roger Dagher of UDC said: “During Cityscape we had the chance to showcase The Pearl Qatar and highlight its positioning as a model, first-class mixed-use urban development in Qatar offering five-star services to a growing list of residents, retailers and visitors.
“The Island is at once a residential destination, a retail haven and a luxury resort attracting visitors from Qatar and abroad
Among the other 85 exhibitors participating in the event was ASTAD Project Management, which is currently managing some of the nation’s key projects across sectors such as National Museum of Qatar, the Qatar Economics Zone, The Qatar Foundation Health and Wellness Precinct, and the New Doha Tennis Stadium at Khalifa Tennis Complex.


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VALPARAISO, Ind., June 11, 2018 (GLOBE NEWSWIRE) — On June 8, 2018 after a 4 day jury trial, a verdict was delivered in favor of long-time former Valparaiso resident, Jared Thieme, against Toyota Motor Sales USA in a breach of warranty action brought in the Superior Court of Porter County. The case involved a new 2012 Toyota Tundra that Mr. Thieme purchased on August 13, 2012 for $43,838. As the winter approached, Mr. Thieme experienced difficulty starting the vehicle, malfunction warning lights illuminating, and the vehicle chugging and riding rough. After giving Toyota 3 chances to fix the problem, he was told by Toyota’s dealer that the computer in the vehicle was incorrectly reading the alcohol density content of the fuel. Mr. Thieme was also told that Toyota had no fix for the problem and that they were “working on a recalibration for the computer.” For months, Mr. Thieme called Toyota seeking an update for when his vehicle would be fixed. In May of 2013, an update was performed pursuant to Toyota’s Technical Service Bulletin 58-13, but that did not repair the condition, which reappeared in the winter. On March 8, 2014, Toyota advised Mr. Thieme that no further repairs could be performed. Mr. Thieme then retained Krohn & Moss, Ltd. Consumer Law Center ®, a consumer protection firm that has handled over 45,000 “lemon law” actions nationwide, including over 2,500 in Indiana. Instead of settling Mr. Thieme’s well-founded claims, Toyota fought the case for over 4 years claiming that Mr. Thieme’s problems were caused by contaminated fuel. A Porter County jury saw through Toyota’s defense and awarded Mr. Thieme $31,000 representing the amount he overpaid for the vehicle. The jury also awarded $279,000 for Mr. Thieme’s incidental and consequential damages. Additionally, federal law will allow Mr. Thieme to recover his attorneys’ fees and costs. John Barker, Mr. Thieme’s counsel, commented, “This verdict sends a message to Toyota to not ignore its customers. If they sell a bad vehicle they need to do the right thing or there will be repercussions.” Mr. Barker may be reached at (800) 875-3666 ext. 252 or at [email protected].
About Krohn & Moss, Ltd.
Krohn & Moss, Ltd. Consumer Law Center® was founded in 1995 by Adam Krohn and Gregory Moss, providing legal representation to consumers with defective vehicles. The firm may be found at www.yourlemonlawrights.com or contacted at 800 US-LEMON (800-875-3666).


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Latest Kroger Stories
Kroger VP Merchandising and Executives from Leading Consumer Goods Companies to Present at GMA Executive Leadership Forum DEERFIELD, Ill., Aug.
CINCINNATI, Aug. 6, 2014 /PRNewswire/ -- The Kroger Co.
DEERFIELD, Ill., July 29, 2014 /PRNewswire/ -- Market6 is pleased to announce that Jerry Stephens has joined Market6
Kroger Supermarkets Help Host Coney Island-Themed Play Day for Paramount School of Excellence in Indianapolis LISLE, Ill., July 23, 2014 /PRNewswire/ -- Nathan's Famous and KaBOOM!
Hy-Vee, Publix, Wegmans and Costco Receive Highest Brand Equity Scores NEW YORK, July 21, 2014 /PRNewswire/ -- The 2014 Harris Poll EquiTrend® (EQ) study, which measures brand equity
LOS ANGELES, July 2, 2014 /PRNewswire/ -- As the number of pertussis cases, also known as whooping cough, reaches epidemic proportions in California, Ralphs Pharmacies continue to offer Tdap
Adds Online Technology and Fulfillment Platform to Accelerate Growth Into eCommerce Channel and New Markets CINCINNATI and BOCA RATON, Fla., July 2, 2014 /PRNewswire/ -- The Kroger Co.
LONDON, June 19, 2014 /PRNewswire/ -- Reportbuyer.com has added a new market research report:
Newport Aquarium announced Thursday two king penguin chicks hatched inside the Kroger Penguin Palooza exhibit over the weekend. Newport, KY (PRWEB) May 29, 2014
~ Grocery Retailer Announces Program at ACT Expo ~ VANCOUVER, May 6, 2014 /PRNewswire/ - Westport Innovations Inc.
- an ornament or knob in the shape of a flower
- In architecture, a floral ornament; specifically, the large conventional flower usually placed in the center of the abacus of a Corinthian capital or classic ceiling-caisson; also, the floreated termination of a Gothic finial.


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A farmworker crouches in the hot Texas sun, harvesting celery for market. That evening, painful red blisters erupt across his forearms. The celery--a newly developed variety prized for its resistance to disease--unexpectedly produces a chemical able to trigger severe skin reactions.
Traditional breeding methods generated this noxious vegetable. But opponents of genetically modified foods worry that splicing foreign genes (often from bacteria) into food plants through recombinant-DNA technology could lead to even nastier health surprises. The stakes are high: GM foods are sold in many countries. In the U.S., an estimated 60 percent of processed foods in supermarkets--from breakfast cereals to soft drinks--contain a GM ingredient, especially soy, corn or canola.
Detractors cite several reasons for concern. Perhaps proteins made from the foreign genes will be directly toxic to humans. Maybe the genes will alter the functioning of a plant in ways that make its food component less nutritious or more prone to carrying elevated levels of the natural poisons that many plants contain in small amounts. Or perhaps the modified plant will synthesize proteins able to elicit allergic reactions.
Allergy was the big worry in 2000 when StarLink corn--genetically modified to produce an insecticidal protein from the bacterium Bacillus thuringiensis (Bt)--turned up in taco shells, corn chips and other foods. StarLink had been planted after receiving approval for use in animal feed, but concerns about the potential allergenicity of its particular version of the Bt protein kept the corn from gaining approval for human consumption. Although U.S. regulators found no cases of allergic reaction that could be attributed to the consumption of food containing small amounts of StarLink corn, the product was removed from the market.
Proponents offer a number of defenses for genetically engineered foods. Inserting carefully selected genes into a plant is safer than introducing thousands of genes at once, as commonly occurs when plants are crossbred in the standard way. GM crops designed to limit the need for toxic pesticides can potentially benefit health indirectly, by reducing human exposure to those chemicals. More directly, foods under study are being designed to be more nutritious than their standard counterparts. Further, GM crops that produce extra nutrients or that grow well in poor conditions could provide critical help to people in developing nations who suffer from malnutrition.
Advocates note, too, that every genetically engineered food crop has been thoroughly tested for possible health effects. Relatively few independent studies have been published, but manufacturers have conducted extensive analyses, because they are legally required to ensure that the foods they sell meet federal safety standards. Companies voluntarily submit these test results to the U.S. Food and Drug Administration in advance of sale.
The manufacturers studies typically begin by comparing the GM version under consideration with conventionally bred plants of the same variety, to see whether the addition of a foreign gene significantly alters the GM plant's chemical makeup and nutritional value. If the proteins made from the inserted genes are the only discernible differences, those proteins are checked for toxicity by feeding them to animals in quantities thousands of times higher than humans would ever consume. If the genetic modification leads to more extensive changes, toxicity testers may feed the complete GM food to laboratory animals.
To assess the allergy-inducing potential, scientists check the chemical makeup of each novel protein produced by the genetically altered plant against those of 500 or so known allergens; having a similar chemistry would raise a red flag. Proteins are also treated with acid to mimic the environment they will encounter in the stomach; most known allergens are quite stable and survive such treatment unscathed. Finally, investigators consider the original source of the protein. "There is no way that a peanut gene will ever be allowed into a strawberry," observes Thomas J. Higgins of the Commonwealth Scientific and Industrial Research Organization in Australia: too many people are allergic to proteins in peanuts.
Arguably, the testing system has worked well so far. It showed that the protein in StarLink corn might be allergenic (hence the animal-feed-only approval) and led other products--such as soybeans that contained a protein from Brazil nuts--to be abandoned before they had a chance to hit grocery shelves. "I dont know of any evidence that any product on the market is unsafe," says Peter Day, professor emeritus of genetics at Rutgers University.
The safety tests are not necessarily foolproof, though. For example, GM plants often cannot make enough of the foreign protein for use in feeding studies. So researchers have bacteria churn out the proteins. But a protein made by plants, the form people would consume, might be slightly different from the one made by microbes--a difference that might theoretically affect the safety assessment of that protein. And studies using whole GM foods are limited by the amount of any food that can be introduced into an animal's diet without generating nutritional imbalances that can confound the test results. This effect is one reason that scientists have criticized a controversial 1999 study claiming that the foreign DNA in GM potatoes led to abnormalities in the intestinal lining in rats.
Beyond the acute safety considerations, some critics fear that GM foods will do harm more insidiously, by hastening the spread of antibiotic resistance in disease-causing bacteria. When food designers genetically alter a plant, they couple the selected genetic material with a "marker" gene that reveals which plants have taken up foreign genes. Often the marker genes render plant cells resistant to antibiotics that typically kill them. At issue is the possibility that resistance genes might somehow jump from GM foods to bacteria in a consumer's gut, thereby aggravating the already troubling rise of antibiotic resistance among disease-causing bacteria.
The chances of such transfer are reportedly remote--"less likely than winning a national lottery three times in a row," notes Hans Günter Gassen, professor emeritus at the Institute of Biochemistry at the University of Technology in Darmstadt, Germany. Even so, most companies have stopped developing new products that contain antibiotic resistance genes.
Meanwhile many consumers remain disturbed that most safety tests are performed by the very corporations that produce GM foods. Steve L. Taylor, professor of food science and technology at the University of Nebraska, admits that some may view the practice as unseemly. But, he asks, who else should shoulder the burden--and the expense? "I'd rather see the companies spend the money than have the government use my tax dollars," he adds. "I dont care if were talking about bicycles or GM corn, it's their obligation to prove that their products are safe." No doubt concerned scientists and citizens will continue watching to see that they do so.


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After Market: BoB gains on merger; TaMo on a high; Embassy REIT gains on debut
The overall market cap of BSE-listed firms jumped to Rs 1.52 lakh crore from Rs 1.51 lakh crore on Friday.
Relief from the MSCI decision to hold an index rejig, hopes of a rate cut by RBI, the rupee's ascent against the dollar, positive signals from the US-China trade talks and a solid pickup in Chinese manufacturing data lifted market mood.
Sensex, which hit a new all-time of 39,115, earlier in the day, shut shop at 38,871, up 199 points, or 0.51 per cent. NSE’s Nifty closed 45 points, or 0.39 per cent, up at 11,669. It was at kissing distance of its all-time high earlier in the day.
Here is a wrapup of the key movers & shakers of Monday's session:
Tata Motors surges 7%
Shares of Tata Motors jumped 7.37 per cent to settle at Rs 187 after its British luxury car unit Jaguar Land Rover (JLR) reaffirmed expectations of a financially better fourth quarter.
Investors make Rs 1.11 lakh cr in a day
The overall market capitalisation of BSE-listed firms jumped to Rs 1,52,19,554 crore from Rs 1,51,08,711 crore on Friday, making equity investors richer by Rs 1.11 lakh crore in a single day.
GST collection tops Rs 1.06 lakh cr
Giving a fillip to government finances, March GST collections touched highest mark since its introduction, scaling a record of Rs 1.06 lakh crore against Rs 97,247 crore collected in February. Analysts attributed the better number to improved compliance and a rise in the number of returns.
227 stocks hit upper circuits
Lakshmi Vilas Bank, Tata Steel, Indiabulls Integrated Services, Shankara Building Products, Lyka Labs and Apollo Micro Systems were among 227 stocks that hit upper circuit limits on BSE. On the other hand, Reliance Communications, GPT Infraprojects, Uttam Galva Steels and Ess Dee Aluminium were among 187 stocks that hit lower circuits.
RVNL IPO subscribed 17%
The initial public offer (IPO) by Rail Vikas Nigam (RVNL) was subscribed 17 per cent on the second day of the bidding process till 4 pm. According to data on the NSE website, the IPO received bids for 4,25,14,680 shares against a total issue size of 25,34,57,280.
Embassy Office Parks REIT jumps 4%
Embassy Office Parks REIT made a tepid market debut, listing at Rs 300 on BSE, the same as its issue price. The stock climbed later in the day to settle 4.45 per cent higher at Rs 313.35.
BoB shares gain 3%
Shares of Bank of Baroda (BoB) jumped 3.14 per cent to Rs 132.85 after the merger of Vijaya Bank and Dena Bank took effect. In a first three-way amalgamation, the two lenders were merged into Bank of Baroda (BoB) to create the country’s third-largest lender.
Maruti’s highest sales growth in FY19
Having sold overall 18,62,449 units during the financial year 2018-19, Maruti Suzuki posted its highest sales growth in a financial year at 4.7 per cent, a company release said. But March sales declined 1.6 per cent to 1,58,076 units. The stock settled 2.57 per cent higher at Rs 6,842.
M&M posts 9% sales growth in FY19
Mahindra & Mahindra, in a press release, said it sold 5,70,001 units in the domestic market in FY19 against 5,20,932 units sold in FY18, registering a 9 per cent growth. The company reported 1 per cent increase in March sales at 62,952 units. The stock closed the day 1.66 per cent down at Rs 660.
ALL stock down as sales dip 4%
Ashok Leyland reported a 4 per cent drop in March sales at 21,535 units against 22,453 units sold in the same month last year. Sales of medium and heavy commercial vehicles declined 6 per cent to 16,034 units against 17,057 units in the year-ago month. Shares of the company closed 0.88 per cent down at Rs 90.50.
Escorts tractor sales up, stock down
Escorts reported a 1 per cent increase in March tractor sales at 11,905 units against 11,790 units sold in the same month last year. Shares of the company closed 2.62 per cent down at Rs 775.


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The Italian carmaker first began building stock in Chrysler as part of a government and union-led bailout for the struggling company, culminating in a majority share in 2011.
The remaining share, a 41.46 percent stake held by United Auto Workers’ retirees’ healthcare trust VEBA, will be purchased at a cost of US$3.65 billion.
The purchase will be made up of a US$1.75 billion contribution from Fiat and US$1.9 billion from Chrysler - currently the more profitable arm of the alliance.
Once the deal closes, Chrysler will pay an additional US$700 million to the trust through four annual payments, contributing to the medical benefits of Chrysler retiree funds managed by VEBA.
The deal, which will help to realise the global growth plans of Fiat and Chrysler boss Sergio Marchionne, is expected to close by January 20.
"The unified ownership structure will now allow us to fully execute our vision of creating a global automaker that is truly unique in terms of mix of experience, perspective and know-how, a solid and open organization that will ensure all employees a challenging and rewarding environment," Mr Marchionne said.
"In the life of every major organization and its people, there are defining moments that go down in the history books. For Fiat and Chrysler, the agreement just reached with the VEBA is clearly one of those moments."
Fiat Chairman John Elkann echoed Marchionne's comments, adding that he has been looking forward to this day since the Fiat-Chrysler alliance was first announced.
"The work, commitment and achievement I have witnessed from Chrysler over the past four and a half years is nothing short of exceptional, and I take this opportunity to officially welcome each and every one of the people in the Chrysler organization to the integrated Fiat-Chrysler world."
In Australia, the impact of Fiat's revitalised global management system has fed sales growth of the brand, with 2013 sales far outstripping the previous year.
While full-year VFACTS figures are still to come, November numbers show that Fiat and Alfa Romeo have moved some 5211 cars for the year, compared to 1267 in 2012.
The significant growth is thanks largely to a switch to factory control from previous distributor Ateco, along with an injection of new models and - most importantly - a major price shuffle across the range.
Likewise, Chrysler brand sales in Australia grew to 23,896 (YTD end-November) in 2013 from 19,359 in 2012, thanks again to a refocused Fiat-led business plan and - for the Chrysler and Jeep marques - important new models.
Only the Dodge brand failed to find growth in 2013, with sales falling from 1905 in 2012 to 1477 in 2013.
- Interested in buying CHRYSLER CHRYSLER? Visit our CHRYSLER CHRYSLER showroom for more information.


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Uber has just announced that everyone who uses Uber in Nairobi will be able to use the cash option when paying for the service. The cash option was introduced in Nairobi on June 4th and was available to a little over 50% of Uber users in Kenya.
Additionally news users in Nairobi will now not be required to have a credit card in order to register for the service. Those that don’t have credit cards will just need to choose the cash payment option. A valid email address and a mobile number will still be required. It is however unclear how old users who have debts on their Uber accounts and are unable to pay because of lack of credit cards will be able to clear them.
The cash option was first introduced in Nairobi and Hyderabad and it has now been rolled out in five other cities in India.
I recently wrote about Uber’s problems in Kenya and I think the new announcements will have a positive impact on their business here. The new developments will definitely drive up Uber signups and use in Kenya which has slowed due to the requirement of credit cards for signups.
I’m also happy to report that Uber is taking the recruitment of a Nairobi GM & Marketing Manager seriously after announcing a fast-track recruitment process for the two positions. They announced this via an email to current Uber customers in Nairobi last week and they will be conducting the interviews tonight. The interviews will be conducted by among others Alon Lits, GM, Sub-Saharan Africa.


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Reaching Amid the Resistance
Consumer want more than products from companies they frequent—they want action. This can create tricky situations for companies who may be reluctant to step into the fray on particularly polarizing issues.
A recent Harvard Business Review article offers these 5 tips:
- Don’t just talk about it, be about it
- No on-off statements
- When apologizing, do it without excuses or caveats
- “Listen, process and validate”
- Step beyond the perspective of just your company
In this digital age, your company’s history and past statements are easy to find. Therefore, when you say something, mean it. Not doing so can come back to bite you.
For example, Amazon released a commercial thanking its heroic employees at a time when those employees were striking because of the company’s failure to address their safety concerns. “This is not a time for companies to share generic, hollow, or hypocritical sentiments… it is a time to be humble, own up to any mistakes, and express a desire to grow,” according to the article.
HBR also said firms should not create campaigns in a vacuum—firms can turn to people outside the organization to avoid group think. Further, when customers voice concerns about a topic—say a firm’s response to COVID-19 or racial injustice—don’t just listen. Rather, work to “process it critically” and do not overinterpret it. Take it at face value.
Making Your Mark on Reddit
Digital Marketing News notes that “Reddit can be seen as a website that also works as a news site… Reddit users post their original content via links, videos, or photos on Reddit. People can comment on these posts. Audience members then either 'upvote' or 'downvote' the original content and the comments. This way, whatever is buzzworthy, or whichever comment is more impactful (usually funny) gets popular, which means that more people get to see it. And, whichever Reddit posts get enough downvotes, drown in the daily increasing original content.”
Then there are millions of subreddits—pages that built enough of an audience to warrant its own community. There are also niche subreddits—groups with niche Reddit content. Some of these subreddits can have surprisingly large audiences.
One of the biggest challenges for marketers on Reddit is that this audience does not appreciate traditional advertising. You shouldn’t just borrow a campaign your firm prepared for Facebook or Twitter and roll it out on Reddit.
Many Reddit users believe you shouldn’t promote your business to the community without giving anything back. Some subreddits even prohibit marketers from content marketing advertising within the group. “You need to win your followers” the article notes, adding that a smart approach is to find users who would “be genuinely interested in your products.”
Despite those challenges, marketers shouldn’t shy away from the platform—instead they should take a deliberate approach, provide quality content, avoid spamming at all costs, and let Redditors “speak for themselves.”
A smart strategy is to identify subreddits that are relevant to your firm’s brand. Observe them and learn more about the audience. Watch what Redditors are saying about your competitor and see what you can learn. Watch what’s being upvoted… and what’s not.
The article notes that the best advice for anyone trying to market on Reddit is to support your customers instead of trying to sell to them all the time. “Reddit users really appreciate brands that engage with the community and support them. It is also not uncommon to come across several Reddit accounts of famous brands that are specifically created to support their customers. The idea behind this social media strategy is that it cuts any middleman out. You get to communicate with your customers directly. What’s better is that you won’t just be addressing one customer, many users with similar doubts will upvote your comments,” the article notes.
Finally, use the Reddit AMA (Ask Me Anything) feature. You can allows the community to ask you questions. It allows brands to directly engage with customers and show off your brand image and smarts.


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- Elon Musk rubbished work from home policy, demanding his workers return to work immediately
- The Tesla Inc. CEO wrote an email to workers stating that they should appear in the office at least 40 hours per week
- Musk said the office is where colleague workers are stationed to work together and not a remote pseudo office
Tesla Inc. Chief Executive Officer (CEO) Elon Musk has warned his workers to return to the office or lose their jobs, according to Bloomberg.
In an email sent to workers on Tuesday, May 31, the world's richest man reminded them of the company's wide policy.
Musk told workers to ensure they report to the office at 40 hours per week and defined an office as workstations where colleagues work together.
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“Everyone at Tesla is required to spend a minimum of 40 hours in the office per week,” Musk wrote in an email titled “To be super clear.” “Moreover, the office must be where your actual colleagues are located, not some remote pseudo office. If you don’t show up, we will assume you have resigned," said Musk in the mail seen by Bloomberg.
He noted that he used to live in the factory and that is what made it grow to where it is now.
“The more senior you are, the more visible must be your presence. That is why I lived in the factory so much so that those on the line could see me working alongside them. If I had not done that, Tesla would long ago have gone bankrupt,” he said.
Review of the terms
Musk, however, noted that he is open to reviewing the terms based on exceptional contributions.
“If there are particularly exceptional contributors for whom this is impossible, I will review and approve those exceptions directly,” he added.
But responding to online controversies after the email leaked, the SpaceX owner told the workers to "pretend to work somewhere else” as reported by CNBC.
Fans beg Elon Musk for Twitter job
Some of Elon Musk’s fans begged him for Twitter jobs on the platform, although the billionaire’s deal is months away from being finalized.
Musk’s followers are hoping that there will be a lot of reshuffles or shake-ups when the deal is finally consummated, so they taking their shots.
One follower wrote on Twitter asking the richest man in the world to hire him as Vice President of Product, Nikita Bier who co-founded a positivity-focused app said.


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Watco Supply Chain Services LLC of Springdale announced Thursday (Sept. 22) the launch of a new division, Watco Supply Chain Services International LLC, a registered Non-Vessel Operating Common Carrier (NVOCC) and an Indirect Air Carrier (IAC).
Annie Yan, a 20-year international shipping veteran, has joined the company to lead the new segment. It will complement Watco’s core port and terminal service offerings.
Watco Supply Chain Services is owned by Kansas-based Watco Companies LLC, the second-largest shortline railroad operator and the largest privately held shortline railroad in the U.S. Watco Companies provides rail transportation, terminal and port, supply chain, and mechanical services.
“We are pleased to have Annie and team join forces with the Watco team,” Eric Wolfe, president of Watco Supply Chain Services, said in a news release. “We see growing demand for these international services, particularly in and out of the Houston market.”


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A Real ‘Omni-Presence’
As a result of the behavioral shifts, Kroger’s website engagement is at an all-time high. The retailer’s 23 million unique monthly shoppers make it the leading retailer in the food and grocery category, according to comScore. And fueled by 116% year-over-year growth in 2020, its $10 billion-plus in e-commerce sales makes it one of the 10 largest online retailers of any type.
“To be number 8 on the list is a pretty massive accomplishment when you think that, about five years or so ago, we didn’t have an e-commerce business,” says Kalmbach. “The customers evolved, we met them, and now this is very much a part of what we believe the future will be. It’s been very exciting for the company but also humbling that we were able to show up in that way.”
To that end, Kroger finished 2020 with roughly 2,225 e-commerce pickup sites and about 2,500 delivery locations, which means that 98% of its shopper households now can utilize at least one of those options. Elsewhere, the first of 19 automated customer fulfillment centers that will roll out in conjunction with supply chain partner Ocado opened in April 2021. That partnership also boasts proprietary software in stores that will help employees pick and assemble online orders more efficiently for the shoppers using pickup services.
“A general guiding principle for us is [that] we want to own the relationship with the customer. We want to be able to build the solution and deliver that experience to them,” says Kalmbach, when asked about Kroger’s strategy for striking external partnerships. “But where we can feed in really unique, differentiated capabilities to better serve them, we’re all in.”
Innovation doesn’t begin and end with order fulfillment, of course, and Kroger is looking for ways to help customers solve their meal planning needs as well. Among recent activity is a partnership with Whisk, part of the Samsung Next food technology platform, in which Kroger customers can turn recipes from a variety of publishers, brands and apps into a smart shopping list for instant purchase from their local store. Another is an internally developed Twitter-based tool called Chefbot that gives customers recommendations based on snapshots from their fridges or pantries.
“At Kroger, we really embrace the culture of testing and learning. So there are very few things that we’re not willing to put in play in a pilot so that we can test and learn and continue to innovate,” says Kalmbach, pointing to the drone service currently being tested near Dayton, Ohio, that will deliver products anywhere the customer needs them. (“Imagine you’re at the park, you’re having an awesome barbecue, and you forgot your s’mores kit.”)
“It’s about having the mindset of being willing to … try things, knowing that many will fail,” she says. “But when you hit that experience that really resonates with the customer, then you have the ability to bring it to life.”


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- LIVE: Volkswagen unveils electric Pikes Peak racer
LIVE: Volkswagen unveils electric Pikes Peak racerby Ronan Glon
The I.D. R is quicker than a Formula 1 car.
Volkswagen introduced an electric race car named I.D. R during a media event held in the south of France. The latest member of the I.D. family will compete in the Pikes Peak Hill Climb this summer.
Blacked out like the Batmobile, the I.D. R relies on lightweight materials like carbon fiber to tip the scale at under 2,500 pounds. Its drivetrain consists of a lithium-ion battery pack and an electric motor over each axle. They provide 680 horsepower and 479 pound-feet of torque, figures that help the R hit 60 mph from a stop in 2.25 seconds. Volkswagen points out its Pikes Peak racer is quicker than a Formula 1 car.
The German firm aims to break the event's electric car record, which currently stands at eight minutes and 57 seconds. It will be the company's first battery-powered run up Pikes Peak, but it won't be the first time a Volkswagen shows up on the starting line. Engineers built a twin-engined, 652-horsepower Golf in the mid-1980s and tried to take first place in 1985, 1986 and 1987, failing all three times.
Testing will begin in Europe in the coming days, and Volkswagen will ship the I.D. R to Colorado at the end of May to put it through its paces on some of the roads it will later race on. Trek out to Pikes Peak on June 24 if you want to see it in action.
Photography by Ronan Glon.


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Amey bosses shelve bonuses
DIRECTORS of Amey, the business services group, have deferred their bonuses for three years after the introduction of new accounting rules that have lopped £64m off stated profits since 1999.
The decision is an attempt to head off criticism from shareholders that executives will effectively be rewarded twice for producing the same profits. The new accounting rules will cut profits that companies have already announced, transferring surpluses to future years.
Directors' pay and remuneration could benefit hugely as a result. Bonuses could be calculated on past profits before they are restated downwards, and then again on future earnings which will be inflated as contract income is reflected.
One shareholder said: 'We will be looking closely at this to ensure the board does not reward itself twice on the same earnings and also to make sure that Amey does not set an unfortunate precedent.'
Amey will try to defuse any shareholder worries by putting its remuneration policy to the vote.
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“Technology is making the things around us smarter than ever before,” says TV Design Expert David Bromstad. “You don’t have to sacrifice design when you use technology at home that saves you money.” The Miami resident understands the heat. So he has teamed up with FPL to bring us the best ways to combine fashionable design with technology for attractive energy savings. The first step is a smart thermostat that allows remote adjustments from a mobile device, and some even feature occupancy sensors for further comfort and energy savings. Then there are the next gen smart fans that feature an enhanced energy-efficient design and can be turned on or off from mobile devices. Other products he recommends are smart bulbs — not just CFLs and LEDs, but those that can be remotely controlled and even act as wireless speakers at an 80% energy savings, compared to incandescent lighting. His last tip is to invest in a smart outlet. Simply plug it in and you can manage just about any device connected via a handy app. Welcome to the future.
Spring was in full swing as Key Biscayners made it off the island to support a variety of causes around town.
Meet a few Outstanding Mothers of Key Biscayne who are mastering the fine art of balancing life, work and family as they raise their children to be loving, successful and compassionate human beings.


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Bitcoin, the world’s largest cryptocurrency, discovered one other supporter in Edward Snowden, a former NSA worker. Snowden talked about that Bitcoin is up by greater than 1,000% since March 2020 regardless of China’s crypto ban.
“Typically I feel again and marvel how many individuals purchased Bitcoin in March 2020. It’s up 10x since, regardless of a coordinated world marketing campaign by governments to undermine public understanding of, and help for, cryptocurrency. China even banned it, however it simply made Bitcoin stronger,” Snowden talked about on Twitter.
In March 2020, Bitcoin touched a low of roughly $5,000. Since then, the world’s most dear digital asset has gained immense recognition amongst retail and institutional traders and that has resulted in a leap of practically 1,000% within the final 18 months. BTC is presently buying and selling above $47,500 with a market cap of roughly $900 billion.
Bitcoin overcame main hurdles during the last 12 months. Earlier this 12 months, China introduced an entire crypto ban together with the nation’s crypto mining actions. Because of this, Bitcoin’s mining hash charge dropped by greater than 50%. Nonetheless, the latest restoration within the BTC mining charge has pushed the general mining revenues to a document excessive.
Bitcoin’s Worth Motion
After a difficult September, Bitcoin began October with a considerable rally. BTC touched a excessive of over $49,000 on 3 October whereas Ethereum reached $3,480. Commenting on the most recent crypto worth motion, Simon Peters, Market Analyst at eToro, mentioned: “Crypto costs struggled to the tip of September, failing to make positive factors for almost all of the month and even maintain floor in some instances. Nonetheless, main crypto belongings rebounded over the weekend on the again of optimistic feedback from the SEC’s Gary Gensler.”
“Bitcoin had a robust week, regardless of falling to under $42,000 on the finish of September. October’s arrival noticed the crypto asset leap in worth over the weekend. It’s now buying and selling slightly below $48,000. Etherium likewise noticed a begin of October rally, having traded all the way down to $2,800 on the finish of final month. ETH jumped over the weekend, buying and selling upwards and now round $3,350,” Peters added.


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Despite a recent drop in CPI inflation, living standards stay squeezed as interest rates and economic growth remain low
The Office for National Statistics (ONS) has published figures showing CPI (consumer price index) fell to 2.3% in March 2018, down from 2.5% in February. This drop, to the lowest level of CPI inflation since March 2017, marks a 12- month rate of 2.5%. However, the other gauge used to measure price increases, the retail price index, or (RPI), was almost a third higher at 3.6%.
“Inflation fell to its lowest rate in a year, with women’s clothing prices rising slower than usual for this time of year,” said Mike Hardie, head of inflation at the ONS. The slowing of inflation, which has risen considerably since the Brexit vote in June 2016, has been largely seen as good news as, for the first time in almost a year, wages grew ahead of CPI.
“Wage growth has now outstripped inflation for two months in a row. This could herald the beginning of a real improvement in living standards, which will be a boost for hard-pressed families. With the UK unemployment rate at a new record low, it’s clear that the labour market remains a key strength for the UK economy,” said the Confederation of British Industry’s head of Economic Intelligence, Anna Leach.
Despite this outlook, inflation has continued to outstrip economic growth and wage growth for several years, impacting living standards across the UK. The UK economy is predicted to grow by just 1.6% this year, down from 1.8% last year. Interest rates remain at just 0.5%, and although a rate rise by the Bank of England is widely predicted for next month, inflation will continue to erode the value of the pound.
Conversely, the value of the pound on the currency markets fell, having risen over the last few days. The pound lost 0.54%, losing almost a cent against the dollar.
House price inflation remains above 4%, falling to 4.4% from 4.7%, while private rent prices rose in the year to March 2018 by 1.1%
What’s the difference between RPI and CPI?
Both RPI and CPI are measures of inflation, RPI stands for retail price index and CPI for consumer price index. The essential difference is in how they are calculated. RPI takes a simple average, or arithmetic mean, by adding up the price of certain items and then dividing by the number of those items.
CPI uses a geometric mean to identify the factor by which prices have increased. This involves multiplying the numbers, rather than adding them up, and then finding the ‘nth root’. If it is just two numbers this would be the square root, if it is three number it is the cube root and so on.
The advantage of this method is that the mean is not distorted by the large numerical increases. However, it is therefore typically lower than the mean used in RPI, which reflects how much more people are likely to be spending overall, rather than per product.
The difference between the two is very useful for governments, who like to peg pay rises to CPI, currently 2.3%, and taxes to RPI, currently 3.6%.
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High inflation this Thursday did not deter the stocks on Wall Street, which rose despite negative data. Consumers had been spending more than analysts expected this August. Those supplying goods had to deal with higher prices. To top it all off, the European Central Bank made a decision to raise interest rates to record highs at 4.0%. Nevertheless, investors seemed to hold the belief that the US economy would be resilient. This could be due to the strength of labour and consumer markets generally.
Investors now believe that the Fed will not raise interest rates in the following week. However, they do believe that it is possible that they may raise rates by a quarter of a per cent before 2024. Consumer inflation being within safe levels and a tight labour market have also boosted their confidence. For now, it seems like traders will commit to investing even in volatile stocks.
The Stocks See Positive Trends Amid Inflation Concerns
Overall, traders have been worrying lately. There is a possibility that inflation could persist for a while. This could then cause the Fed to react by raising interest rates once again. However, some positive signs allayed their fears. The cost of fuel being relatively low was the main one, considering the Fed’s usual attitude to gas prices.
The stocks then rose in all sectors. All sectors in the S&P 500 did well, with an overall growth of 0.8%. The NASDAQ and Dow Jones performed well too, with a rise of 0.8% and 1.0%, respectively. This helped in recover from a recent minor slump.
Among the major winners were Carnival and Norwegian Cruise Lines. They managed to gain 4.1% and 5.7%, respectively, in a single day! Despite high costs for fuel, there is still plenty of demand for the travel industry and other transportation-based firms. So the demand has managed to overcome possible challenges. Cyclical stocks had thus done well by following major trends.


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December 23, 2019
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Microsoft's SkyDrive cloud storage service has received a new name. Last year, BSkyB successfully took Microsoft to court, stating the SkyDrive moniker infringed on the UK broadcaster's trademark. Today, Microsoft has announced the service will henceforth be called OneDrive.
"We believe the new OneDrive name conveys the value we can deliver for you and best represents our vision for the future," reads a blog post from Microsoft. "We are excited about what is to come, and can’t wait to share more."
Current SkyDrive users should see little change as the OneDrive name rolls out; Microsoft says all currently uploaded data will remain available. The company did not announce any other feature changes beyond the new name.


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It is no surprise that COVID-19 is creating a new normal in every industry. When it comes to the retail industry, the offline and the online trades are collaborating to achieve the best in this challenging situation. One such collaboration is Flipkart joining hands with the Indian logistics startup Shadowfax.
The Walmart owned e-commerce retailer, Flipkart is all set to make a debut in the hyperlocal delivery space. Flipkart had already rooted its interest in its delivery and supply-chain muscle for its e-grocery business back then in December 2019. It invested USD 60 million in Shadowfax and an undisclosed amount in fresh produce supply chain startup Ninjakart along with its parent company, Walmart.
Flipkart will initially start deliveries from its own dark stores, local warehouses and some selected shops. It will gradually be extended to the corner stores and modern retailers within a specific neighborhood. The company has assured that they will be delivering orders to their customers within a record time of 90 minutes only.
Earlier in the lockdown phase by March, Flipkart was about to restart its grocery delivery service with its Supermarket services. But it was done with strict guidelines issued by the government on the transit of goods and services. Even in May this year, Flipkart was planning for online sales to recover the losses accrued during the lockdown phase. Now, after some relaxation from lockdown, this brand new industry-ready program is proposed to arrive in the great feat.
The move by Flipkart is being seen as a counter initiative to JioMart which is expected to leverage on Facebook-owned WhatsApp after the recent investment of $5.7 billion in Jio Platforms by Facebook. It also has another giant competiting in the space, Amazon.