Global trade and tariff uncertainties​ can become catalyst for reforms in India: HSBC Research

New Delhi, (IANS): Global trade and tariff uncertainties could become a catalyst for reforms in India over the medium term and for growth results, the reforms must run deep, an HSBC Research report said on Tuesday.Potential US tariffs may have already become a catalyst for reforms like lowering import tariffs, opening up to regional FDI, fast-tracking trade deals, and making the Indian rupee more flexible."And India does not have to look too far for models to emulate. Its success in services exports has demonstrated the power of moving up the value chain, from basic (call centre services) to high-tech (professional services)," said the report.India's goods trade deficit narrowed sharply in February to $14.1 billion, from $23 billion in January.“The trade deficit tends to narrow in February but this time, it narrowed rather sharply to the lowest in more than three years,” the report mentioned.India's goods trade deficit narrowed to $14 billion and the services trade surplus rose to $18.5 billion, putting the overall trade balance in a rare surplus zone in February.A normalisation in...
Read More........ → Categories: , , ,
→

Amazon, Intel, other global giants to slash huge workforce amid AI boom

New Delhi, (IANS): Several major global companies, including Amazon, Morgan Stanley and Goldman Sachs, are planning massive job cuts in 2025 as they focus on reducing costs and streamlining operations in the artificial intelligence (AI) era.The rise of AI and global economic uncertainties are key reasons behind these layoffs.Amazon, one of the world's largest e-commerce companies, is planning to eliminate approximately 14,000 managerial roles, according to reports.The company aims to save around $3 billion annually through this move. CEO Andy Jassy has set a goal to increase the ratio of individual contributors to managers by 15 per cent by the first quarter of 2025.This decision follows Amazon's recent shift to a five-day workweek, which some employees believe is a way to encourage voluntary resignations.According to reports, investment banking giant Morgan Stanley is expected to lay off around 2,000 employees later in March -- 3 per cent reduction in its workforce.These cuts will likely exclude financial advisers. The firm had over 80,000 employees in 2024 and is now looking to restructure...
Read More........ → Categories: , ,
→

Improvement in air quality with decline in pollution levels in India: World Air Quality Report

New Delhi, (IANS) The World Air Quality Report 2024 by Swiss air quality technology company IQAir reveals a positive trend in India’s air quality, despite ongoing challenges.According to the report, India now ranks as the fifth most polluted country globally in 2024, a notable improvement from its third-place ranking in 2023.The country also recorded a 7 per cent decline in PM2.5 concentrations, which dropped from 54.4 micrograms per cubic metre in 2023 to 50.6 micrograms per cubic metre in 2024.While 13 of the world’s 20 most polluted cities are in India, including Byrnihat, Delhi, and Faridabad, this decline signals a step in the right direction for addressing air pollution.Delhi, which remains the most polluted capital city in the world, saw little change in its air quality, with an annual PM2.5 concentration of 91.6 micrograms per cubic metre in 2024, almost identical to 92.7 in 2023.Despite these challenges, India’s progress in reducing air pollution is noteworthy. The decline in PM2.5 levels indicates that the country is making strides in combating air pollution, thanks to various...
Read More........ → Categories: , ,
→

World no.1 Sinner accepts three-month tennis ban to resolve doping charge

LAUSANNE - Jannik Sinner's long doping saga came to an end on Saturday after he agreed to a three-month ban from tennis, the world number one admitting "partial responsibility" for team mistakes which led to him twice testing positive for traces of clostebol in March last year.The 9 February to 4 May suspension means Sinner will be free to play in the French Open, the second Grand Slam of the season, which begins on 25 May at Roland Garros.In a statement, Sinner said that the World Anti-Doping Agency (WADA) accepted that he "had no intent and did not derive any competitive advantage from the two positive tests" of the banned substance.Australian Open champion Sinner has always said that clostebol entered his system when his physiotherapist used a spray containing it to treat a cut before providing a massage and sports therapy."This case had been hanging over me now for nearly a year and the process still had a long time to run with a decision maybe only at the end of the year," Sinner said."I have always accepted that I am responsible for my team and realise WADA's strict rules are...
Read More........ → Categories: , ,
→

AI regulation around the world

Countries and economic blocs around the world are at different stages of regulating artificial intelligence, from a relative "Wild West" in the United States to highly complex rules in the European Union.Here are some key points about regulation in major jurisdictions, ahead of the Paris AI summit on February 10-11:- United States -Returning President Donald Trump last month rescinded Joe Biden's October 2023 executive order on AI oversight.Largely voluntary, it required major AI developers like OpenAI to share safety assessments and vital information with the federal government.Backed by major tech companies, it was aimed at protecting privacy and preventing civil rights violations, and called for safeguards on national security.Home to top developers, the United States now has no formal AI guidelines -- although some existing privacy protections do still apply.Under Trump, the United States has "picked up their cowboy hat again, it's a complete Wild West", said Yael Cohen-Hadria, a digital lawyer at consultancy EY.The administration has effectively said that "we're not doing this...
Read More........ → Categories: , ,
→

Former world heavyweight champion Fury retires from boxing again

LONDON - Former world heavyweight champion Tyson Fury said Monday he had retired from boxing just weeks after suffering a second straight defeat at the hands of Oleksandr Usyk."I'm going to make this short and sweet," the British fighter said in a social media post. "I'd like to announce my retirement from boxing."It's been a blast, I've loved every single minute of it," added Fury, who has, however, previously performed a number of U-turns over his future in the ring.The "Gypsy King", 36, last fought on December 21 when he lost his rematch against Usyk in Riyadh.Asked after the fight whether the public would see him fight again, Fury said: "You might do, you might not do. Who knows?"Fury enjoyed two stints as heavyweight champion and retires with a record of 34 wins, two defeats and one draw.He announced he was quitting after beating Dillian Whyte in April 2022 but returned to action later that year.Frank Warren, who promotes Fury, told the BBC he had not spoken to the boxer prior to his retirement announcement."I've said all along that there is no way I will be trying in any way to...
Read More........ → Categories: , ,
→

The multi-billion dollar startup sector is bouncing back – 8 big trends will shape 2025

Rod McNaughton, University of Auckland, Waipapa Taumata RauStartups have always been at the forefront of innovation. But factors such as artificial intelligence (AI), sustainability and decentralisation are set to reshape industries in 2025. Businesses are defined as startups when they are in the initial stages of development. They are characterised by the potential for rapid growth and external funding. And they are also sensitive to economic shifts and investment uncertainty. For Australia and New Zealand, startups play an important role in overcoming geographic and market constraints. They can also help address both countries’ persistent productivity challenges. Industry body Startup Genome estimates Sydney’s startup ecosystem was worth US$72 billion in 2024 with more than 3,000 startups. New Zealand’s ecosystem is valued at $9 billion across 2,400 startups. Both Australia and New Zealand have weathered global challenges such as recent slowdowns in investment activity when startups struggled to secure funding. But venture investments in both countries recovered well in 2024...
Read More........ → Categories: , ,
→

In a globalised world, the football World Cup is a force for good

Steve Georgakis, University of SydneyFIFA, world football’s governing body, is not a perfect multinational corporation. It would be quite naïve to envisage that the World Cup should have the capacity to bring world peace, fix global inequality, stamp out racism and overcome other issues espoused by various academic, media and public commentators in recent weeks. On balance, however, the World Cup as an institution is a force for global good – for a number of reasons. First, the tournament brings the world together. FIFA has 209 national football associations affiliated to it that compete in the various competitions it organises. These members also aim to qualify for the World Cup finals every four years. While only 32 countries compete in the World Cup finals, over the years many countries have qualified. In 2014, Bosnia and Herzegovina became the 77th country to take part in the World Cup. This high level of global participation is unprecedented among sporting events and provides many opportunities for international contact and soft diplomacy. Second, football is played in all...
Read More........ → Categories: , , ,
→

Reflections on the World Communication Awards

by Marc Anné, Chair of Judges at the World Communication AwardsLast Tuesday evening, all the shortlisted nominees as well as the Judges enjoyed the 26th anniversary of the World Communication Awards (WCA). This year, the Oscar grade gala event took place in The Marriott, Grosvenor Square, London.On behalf of the Judging Panel, I hereby congratulate all the winners and finalists of this year, as well as a big thank you to all the WCA award entrants for their participation and involvement. The quality and level of this year’s submissions was once again superb. The Judges praised the DNA of the WCA, namely the diversity and quality of the entries and highlighted the integrity and impartiality of our judging process.We are also pleased to see an increasing presence of various African, Latin America and USA players in the WCA.This year, we broke records with 219 entries across 23 award categories, showcasing incredible innovation and excellence.You can find the full list of Award winners here.On behalf of the 100+ WCA Judges, I want to warmly thank all the award entrants for their participation...
Read More........ → Categories: , ,
→

M&M 11th most valuable automobile manufacturer in world: Anand Mahindra

Mumbai, (IANS) Mahindra & Mahindra (M&M) is the 11th most valuable automobile manufacturer in the world, leaping over many competitors and erstwhile technology collaborators, its Chairman Anand Mahindra said on Wednesday.In a New Year address to the employees of Mahindra Group, he said that among companies that were part of the NIFTY50 in 2002, M&M has had the highest compounded annual share price growth rate till date, and in just the past year, has soared 77 per cent.“For the fourth straight year, we were included in the Dow Jones Sustainability Index’s World Index as the highest-ranked automotive OEM,” Anand Mahindra wrote.Most notable among other businesses, Mahindra Susten exceeded its plans for the year, with a cumulative win pipeline of 3.3GWp, over 60 per cent of its targeted capacity.“Last Mile Mobility continued its leadership position in the electrification of India’s 3W market, Mahindra Finance’s loan book swelled to over Rs 1.1 lakh crore and tractor business expanded its dominant position in India amid tough competition,” the company’s Chairman informed.On...
Read More........ → Categories: , , , ,
→

World’s first 5G-A region in Mobile AI Era launched

This month, at the Telecom Review Leaders’ Summit 18th edition in Dubai, the world’s first 5G-A region in the mobile AI era was launched. Under the theme ‘Global. Regional. Digital.’ the Telecom Review Leaders’ Summit spotlit the industry’s main trends, including 5G, cloud, data centers, and digitilisationThe launch followed a panel discussion, in which a group of ten industry professionals gathered to discuss the challenges and opportunities in advancing 5G technology in the Middle East. Key points included the need for cross-industry collaboration, open APIs, and spectrum utilisation.The panelists included:Fayez Abu Awad, Policy Director, MENA, GSMAKhalid Al Awadi, Manager, Broadcasting and Space Services, TDRA UAEHasan Alshemeili, Head of Technology Planning, duDr. Ayman Elnashar, VP of Technology Strategy, Architecture & Innovation, e&Ramy Boctor, Chief Technology Officer, Vodafone QatarStelios Savvides, Chief Technology Officer, Vodafone OmanHicham Siblini, Chief Technology and Infrastructure Officer, Ooredoo QatarAllen Tang, President of ICT Marketing & Solution Sales...
Read More........ → Categories: , , ,
→

World still split over money as clock ticks on COP29

BAKU - A fresh draft of a climate pact unveiled Thursday at COP29 failed to break an impasse over money, with time running for nations to reach a long-sought trillion-dollar finance agreement.The UN climate summit in Azerbaijan is supposed to conclude on Friday but the latest draft only underlines divisions as nations return to the negotiating table."As for the text overall, I'm not going to sugarcoat it -- it is clearly unacceptable as it stands now," said EU climate commissioner Wopke Hoekstra."I am sure there's not a single ambitious country that thinks this is nearly good enough".The nearly 200 countries in Baku are supposed to agree on a new target to replace the $100 billion a year that rich nations pledged for poorer ones to fight climate change.Many developing countries are pushing for $1.3 trillion, mostly from government coffers, though wealthy nations have balked at such demands and insisted private money helps meet any final goal.The latest draft recognises that developing countries need a commitment of at least "USD [X] trillion" per year, leaving out the crucial exact...
Read More........ → Categories: ,
→

As 2026 World Cup planning kicks off, smooth border crossings are a goal

An influx of soccer fans attending the 2026 FIFA World Cup could exacerbate the typical summer backups at the Canadian border. Ideas for smoother crossings are getting kicked around that could last beyond the tournament. (Photo by Tom Banse)This article was first published by the Salish Current.Legions of soccer fans will descend on the Pacific Northwest in peak summer 2026 for the men’s FIFA World Cup. It seems like a long time away, but not if you’re a transportation or travel planner.The Pacific Northwest will host 13 World Cup matches — split between Seattle and Vancouver. The potential for monumental backups at the U.S.-Canada border as superfans ping-pong between the host cities is one factor causing a range of local figures to raise yellow flags. Event organizers have already passed the ball to the Washington Legislature and Congress with requests for assistance totaling millions of dollars.“What are we, 597 days out? Not that we’re counting,” said April Putney, barely missing a beat to recall numbers during a late October interview. Putney is the chief strategy officer with...
Read More........ → Categories: , , ,
→

Japan wants to host 2031 World Cup to fire up women's football

TOKYO - Japan wants to host the Women's World Cup in 2031 to ignite the domestic game and cut the gap on Europe and North America, the country's football chief told AFP.In 2011 Japan won the competition but they have since been overtaken, with women's football booming in Europe in recent years."We would like to raise the value of women's football here," Japan Football Association president Tsuneyasu Miyamoto said in an interview at JFA headquarters in Tokyo, in front of a giant photo of Japan's World Cup-winning team.Miyamoto was captain of the Japan men's team when they co-hosted the World Cup with South Korea in 2002, a tournament that helped spark huge interest in football among the Japanese public.Now 47, he took over as JFA chief this year and has similar hopes for the 2031 Women's World Cup. The country has never hosted the event.Japan is likely to face stiff competition for hosting rights however with a joint bid from the United States and Mexico expected. England and China are also reportedly interested."We have the WE League, and it has been struggling to gather an audience,"...
Read More........ → Categories: , , ,
→