The devaluation of Chinese currency, yuan, has rattled the global financial markets, boosting the dollar and stirring concerns about a delay in the Federal Reserve’s plan to raise interest rates.
The yuan’s value had declined 1.9% on 11 August 2015, its biggest one-day drop in a decade, and dropped a further 1.6 percent on 12 August. The move could help Chinese companies by making their products less expensive in global markets. US stocks sank, partly on fears about a worsening economic slowdown in China.
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via The Hindustan Times
How old is the Naga political issue?
The British annexed Assam in 1826, and in 1881, the Naga Hills too became part of British India. The first sign of Naga resistance was seen in the formation of the Naga Club in 1918, which told the Simon Commission in 1929 “to leave us alone to determine for ourselves as in ancient times”. In 1946 came the Naga National Council (NNC), which, under the leadership of Angami Zapu Phizo, declared Nagaland an independent state on August 14, 1947. The NNC resolved to establish a “sovereign Naga state” and conducted a “referendum” in 1951, in which “99 per cent” supported an “independent” Nagaland.
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via The Indian Express
With the Big App Shopping sale in March this year, Flipkart bid adieu to its mobile website. Fashion major Myntra, which has already shut down its mobile website, is contemplating ditching the browser-based shopping altogether. Having an app is not just de rigueur now, e-commerce firms are actively pushing consumers to their apps and encouraging them to buy through them with attractive discounts and deals. From Amazon’s Appiness Day in November 2014 to Myntra’s Binge Weekend Sale and Snapdeal’s App Fest in February, it’s raining offers on mobile apps.
A large chunk of the e-retailers say the shift to mobile app is aimed at creating focused marketing, thus reducing unnecessary expenses and providing best-in-class consumer experience. However, there are a number of considerations to take into account before committing investment to either a mobile website or an app.
Though apps are fast becoming the desired way for e-commerce players to interact with consumers, merchants do understand that it is neither easy nor advisable to force their customers to go down that route. According to a study conducted by ICM Research in the UK, a majority of the customers prefer to interact with retailers through their mobile websites and only download an app if they are incentivised to do so or if they are regular shoppers. However, the same consumers are far more likely to complete transactions through the retailers’ mobile app than through the mobile website. While this study was conducted in only one market, it clearly highlights a key trend: it is the consumer who wants the prerogative to decide how and when she wants to use her smartphone to shop.
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Via – Business Standard News
Trees in your company campus, jobs for people with disabilities and fuel-efficient office cars may be good for the society and the environment. Continue the good work, but none of that counts as corporate social responsibility (CSR) under the law. With the first full fiscal year in which companies must report CSR compliance drawing to a close, there is still widespread confusion about what exactly counts as CSR.
The 2013 companies law directs firms to spend at least 2% of their average three-year net profit on CSR activities every year. Noshir Dadrawala, chief executive officer (CEO) of CAP, which provides advisory services to companies on CSR compliance, points to the part of law that says, “CSR activities should exclude activities undertaken in normal course of business.”
According to Dadrawala, the statement means you cannot take up an activity that profits your business directly, and name it CSR. This does not mean that you cannot use CSR to garner goodwill. For instance, Maruti Suzuki India Ltd, as part of its CSR, partners Industrial Training Institutes (ITIs) to train skilled workers, some of whom it hires.
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Via – Livemint.com
Government’s food subsidy bill can come down by over ₹30,000 crore a year by reducing coverage of beneficiaries to 40 per cent under the food law and outsourcing major work of FCI to State governments and private players, according to an eight-member panel headed by Mr Shanta Kumar. Prime Minister Modi has termed the recommendations as “pro-farmer and “pro-poor” and said that their “implementation would have miraculous results”.
Among the key recommendations, the panel has suggested direct cash transfer of ₹3,000 per person a year as food subsidy and ₹7,000 per hectare as farm input subsidy besides revisit of minimum support price (MSP) policy with more focus on pulses and oilseeds.
The key role of Food Corporation of India (FCI) is to buy foodgrains to ensure MSP to farmers, and distribute it to the poor under the public distribution system (PDS).
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Via Business Standard
This global status report on prevention and control of NCDs (2014), is framed around the nine voluntary global targets. The report provides data on the current situation, identifying bottlenecks as well as opportunities and priority actions for attaining the targets. The 2010 baseline estimates on NCD mortality and risk factors are provided so that countries can report on progress, starting in 2015.
In addition, the report also provides the latest available estimates on NCD mortality (2012) and risk factors, 2010-2012.
All ministries of health need to set national NCD targets and lead the development and implementation of policies and interventions to attain them. There is no single pathway to attain NCD targets that fits all countries, as they are at different points in their progress in the prevention and control of NCDs and at different levels of socioeconomic development. However all countries can benefit from the comprehensive response to attaining the voluntary global targets presented in this report.
CLICK Here to Download the Report.
The International Monetary Fund (IMF) has lowered its forecast for global economic growth in 2015, and called for governments and central banks to pursue accommodative monetary policies and structural reforms to support growth.
Global growth is projected at 3.5 percent for 2015 and 3.7 percent for 2016, the IMF said in its latest World Economic Outlook report, lowering its forecast by 0.3 percentage points for both years.
New factors supporting growth, lower oil prices, but also depreciation of euro and yen, are more than offset by persistent negative forces, including the lingering legacies of the crisis and lower potential growth in many countries,” Olivier Blanchard, the IMF’s chief economist, said in a statement.
The IMF advised advanced economies to maintain accommodative monetary policies to avoid increasing real interest rates as cheaper oil heightens the risk of deflation.
If policy rates could not be reduced further, the IMF recommended pursuing an accommodative policy “through other means”.
The United States was the lone bright spot in an otherwise gloomy report for major economies, with its projected growth raised to 3.6 percent from 3.1 percent for 2015.
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