Latest News Headlines Fri Oct 19 12:34:04 IST 2018
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- PM Modi hands over keys to beneficiaries of govt housing scheme in Maharashtra
- Home Minister to celebrate Dussehra with BSF jawans at the Indo-Pak border near Bikaner
- 7 armymen injured in Pulwama IED blast
- Piyush Goyal to receive US university award for rural electrification effort
- Modi to launch corporate social responsibility portal
- Women skip Sabarimala temple after huge protests (Second Lead)
- Turkish experts search van that allegedly carried Khashoggi's body
- Full Disclosure: Sex, threats and Donald Trump (Book Review)
- NDTV informs bourses of receiving defamation notice worth Rs 100 bn
- Asia air freight market gets e-commerce boost, trade war has minimal impact
- Govt likely to appoint new CEA in next 1-2 months
- The government is likely to appoint a new chief economic advisor (CEA) in the next one or two months, sources said.
- French MP proposes 'glottophobia' law after southern accent mocked
- A French MP on Thursday announced the tabling of a bill to outlaw regional linguistic discrimination, "glottophobia", after a prominent politician mocked a journalist's southern accent.
- Superflares from young stars may imperil planets: NASA
- Violent flares from the host star may make planets orbiting it uninhabitable by affecting their atmospheres, scientists using NASA's Hubble Space Telescope have found.
- Taiwan says will continue to push for papal visit
- Taiwan said Friday it would continue to push for a papal visit to the island after the Vatican turned down its most recent invitation.
- Malaysian opposition leader charged in USD 26 mn graft case
- Malaysia's opposition leader was Friday hit with 45 charges in a USD 26 million corruption case, a new blow to his beleaguered party which lost power in landmark elections this year.
- US veterans, including many women, seek to serve anew in Congress
- America's military veterans are taking the leap from battlefield to ballot in large numbers in 2018, aiming to bring their discipline, can-do problem-solving, and country-before-party sense of duty to Congress.
- China shares bounce despite weak Q3 GDP as regulators pledge support
- Nifty, Sensex fall over 1 percent; Reliance drags
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- Mindtree tanks 18% on revenue miss, cautious outlook; analysts mixed
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- NBFCs fall; DHFL, Indiabulls Housing, PNB Housing tank over 40% in 1-month
- Trump threatens to shut border if Mexico doesn't stop caravan of migrants
- PKL 2018, Day 12: Today's kabaddi match schedule, live streaming details
- Rupee recovers early losses; rises 19 paise to 73.42 on dollar selling
- Rupee fall, Kerala floods hit auto cos; sector loses 20% in m-cap since Aug
- Non-bank MFs forge special ties with distributors to gain market share
- Homegrown private equity fund Kedaara Capital cashes in on fast exits
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- Kaspersky ready to comply with India's data localisation norms
- Social sectors poised to get private debt-capital boost
- As the political narrative in India appears to be tilting in favour of data localisation, Russia-based global cybersecurity firm Kaspersky Lab said it was willing to "adopt and comply" with Indias proposed requirement to store data generated in the country within its borders.
- By Rajnish Singh
- Social sectors poised to get private debt-capital boost (Comment)
- By Ravi Saraogi
- The Global Steering Group for Impact Investments (GSG) launched a billion-dollar India Impact Fund at a summit held in Delhi last week. The fund will focus on providing debt capital to social enterprises in development sectors like finance, health, education and renewable energy.
- Top apps using Siri Shortcuts to make daily tasks easier: Apple
- Right policy action can help cut emissions: IEA
- It 'certainly' seems that Khashoggi is dead, says Trump
- India's Union Minister Piyush Goyal will on Friday receive the prestigious Carnot Prize from the Ivy League University of Pennsylvania in recognition of his work for rural electrification while he held the power and renewable energy portfolios.
- 100 policemen accompany 2 women to Sabarimala
- 7 soldiers injured in J&K IED explosion
- Prime Minister Narendra Modi will launch a Corporate Social Responsibility (CSR) platform and address a townhall of IT and electronic manufacturing professionals on October 24.
- Global IT spending to grow 3.2% in 2019: Gartner
- Driven by increased Cloud adoption, worldwide IT spending is projected to total $3.8 trillion in 2019, an increase of 3.2 per cent from expected spending of $3.7 trillion in 2018, according to the latest forecast by market research firm Gartner.
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- NASA study warns of freshwater decline in India
- Dubai court charges Indian man for abusing ex-female employer
- Real Madrid dominate FIFA’s 2018 World XI
- Committed suicide by jumping from 8th floor of a building(NEET 2018)
- Committed suicide by jumping from 8th floor of a building(NEET...
- Guterres wants Kathua child rapists, murderers brought to justice
- RBI special measures on March 31 for government accounts
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- 650 idols may end up in dying Yamuna
- River pollution poses threat to a faith
- Southeast Asia hails world's first multilateral air encounter code
- Trump threatens to send military, shut border as migrants head for Mexico
- Keep your platter local and fresh: Why traditional foods benefit more than imported 'superfoods
- The $41 billion gap between Mukesh and Anil Ambani
- Modi has a lot to worry about economy, signs show
- India goes all out to humour US on S-400, Iranian oil
- Sebi's dole for investors has a serious tax worry
- H-1B visas may go only to the best and the highest paid
- India is looking for money in all the wrong places
- Firms get insurance against harassment charges
- Why small cars could flood every nook & corner of India
- Modi govt eyes a never-before boardroom purge
- History stalled at Sabarimala as devotees up the ante
- In Tata's Jet plan, there's no place for Naresh Goyal
- Facebook working on smart set-top box for TVs that will support video-calling
- Namaste England' review: Great chemistry between Arjun Kapoor, Parineeti Chopra; but weak narrative
- Planning to get lip fillers? Healing takes 2 weeks, smoking reduces longevity of treatment
- Big B, Madhuri Dixit, Akshay Kumar greet fans on Dussehra; wish for victory of good over evil
- Saif Ali Khan speaks up on #MeToo: Need to ensure there's no abuse of power in Bollywood
- Samsung plans to make cars smarter with new, cutting-edge chipsets
- Twitter will now show you when a reported tweet is taken down
- #MeToo: CINTAA General Secretary requests media to not get swayed by one-sided stories
- Government likely to appoint new chief economic advisor in next 1-2 months
- Facebook working on smart set-top box for TVs th...
- Obesity can trigger hypertension, diabetes: Eat ...
- No place for Naresh Goyal in Tatas' plan for Jet
- RBI announces steps to increase credit flow to NBFC
- Govt likely to appoint new chief CEA in 1-2 months
- SE Asia hails first multilateral air encounter code
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- RIL falls post Q2 results; should you invest?
- FMCG stks trade mixed;Jubilant Foodworks up
- Nifty Auto index down 2%: Exide Ind in red
- Bank shares dip; YES Bank slumps around 6%
- Desi wealthy club adds 7,300, totalling 3.43 lakh worth $6 trillion
- Low food prices a bane for Modi as India's budget goals threatened
- Top 5 stocks that can give you 100% return in 12-15 months
- Sebi order throws a spanner into Singh brothers' plans
- #MeToo spreads: Tatas looking into reports against Suhel Seth
- Revival plan: Air India suggest govt to sell Air India Express & SATS first
- Private equity firms eye Jet Privilege, but want to know airline’s survival strategy
- InMobi buys Sprint’s mobile ad business
- Obesity can trigger hypertension, diabetes: Eat right and workout to ditch the silent killer
- Will attend flag hoisting ceremony at Red Fort on Oct 21: PM Modi
- Two women agree to abort pilgrimage after priest threatens to shut down Sabarimala shrine
- Taliban attack kills top Afghan officials, US general unhurt
- Sushant Singh announced that a sub-committee will be formed to look into sexual harassment cases.
- The ideal food is one that keeps your prakriti balanced, makes you feel energetic and satisfies your hunger as well as your mind.
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- In the September 2018 quarter, the value of ‘new’ projects at Rs 15.8 lakh crore was the lowest in four quarters.
- We are engaged with the US on this matter and we have shared our position with the US," an MEA official said.
- Sebi’s decision to allow Indians to invest in a global fund may be seen as round tripping.
- It’s increasingly hard to argue that the Indian government is a responsible steward of other people’s money.
- The Employment Practices Liability cover provides protection against claims from employees based on discrimination or wrongful termination or harassment.
- The exercise will involve changes to the Companies Act that will allow the govt to evaluate independent directors.
- Rehana Fatima, a Kerala-based activist, is one of the women who have travelled this far. The other is reportedly a journalist from Hyderabad, Telangana.
- Tata is interested in an outright purchase either of the entire company or its assets such as aircraft.
- Ad: BMW India
- Two flights with 350 people have a close shave
- Itâs the Economy, Stupid
- Share market update: FMCG stocks trade mixed;Jubilant Foodworks up 3%
- Share market update: Bank shares dip; YES Bank slumps around 6%
- Government imposes anti-dumping duty on certain steel products from China
- Lens on Mahinda Rajapaksa for rumours on Sirisena's assassination plot
- An enquiry is needed to find out the role of each entity in the alleged fund routing.
- So far, foreign portfolio investors have taken out nearly Rs 19,000 cr from India.
- Benchmark NSE Nifty50 index was down 111.80 points at 10,341.25 while BSE Sensex was down 330.03 points at 34,449.55 at that time.
- Benchmark NSE Nifty50 index was down 129.15 points at 10,323.9 while BSE Sensex was down 362.17 points at 34,417.41 at that time.
- A similar increase was seen in the retail markets, where the kitchen staple was quoted in the range of Rs 30-40 per kg depending on the quality and locality.
- âEven after correction, multiples are still not cheap enough to buy at the current level.â
- Meanwhile, the divergence documented by Barro and Sala-i-Martin was reversing. Beginning in the 1990s, developing countries started to grow faster than developed ones. Outside of Africa -- where a series of bloody wars sent a number of countries into chaos in the 1990s -- the pattern was even stronger.In the 2000s, commodities prices rebounded, and natural-resource exporting countries began to share in the new wave of global growth. Meanwhile, China accelerated yet again, following its entry into the World Trade Organization in 2001 and a burst of productivity growth. The gap between sprinting developing and slow-growth developed countries became even greater.Then came the Great Recession. Rich countries and poor countries alike were hit hard by the global financial crisis, but -- unlike in previous downturns -- the poor countries didnât suffer more. Catch-up continued. Global inequality kept falling.Now, a decade after the crisis, economists are starting to reevaluate their long-held beliefs about global convergence. Dev Patel, Justin Sandefur and Arvind Subramanian of the Center for Global Development recently looked at multiple datasets on per- capita incomes around the world, and found that no matter which measure is used, the relationship between starting income and subsequent growth has been negative since around 1990.In other words, the idea that rich countries grow more slowly has gone from fiction to fact. No longer do textbook economic theories need to be fudged -- reality has caught up. It appears that the war, bad policies, and dysfunctional institutions that afflicted developing nations in the mid- 20th century were a temporary phenomenon.And the implications for the world are enormous. With economic clout comes geopolitical heft -- the influence of the old colonial powers will steadily diminish, while their ex-colonies assume more global leadership. Some countries will even make the leap from developing to developed status, as South Korea has already done. Trade between emerging markets will continue to increase, bypassing the rich economies entirely.But most of all, the world will simply be a more equal place. Gone are the days when a few countries could lord it over others, secure in the illusion that their society had a secret sauce that others could never emulate.
- The US company said it had sent notices to Flipkart asking it to bar such sellers from the platform but the marketplace had failed to do so. This prompted the Michigan-based direct-selling giant to approach the Delhi court.Flipkart didnât respond to queries. Amway said it believes in conducting business ethically and is committed to help its direct sellers succeed.âThis core concept of direct selling is reflected in the Direct Selling Guidelines issued by the government of India in 2016 which prohibits the sale of products of a direct selling company through ecommerce platforms, without the written consent of the direct selling company,â an Amway spokesperson said in an emailed response, adding the company takes consumer safety seriously.âAmway has sought judicial intervention in the interest of consumer safety, protection of livelihood of its direct sellers and for preserving the basic foundation of its business.âThis is the latest in several cases Amway has filed in recent months against ecommerce companies including Snapdeal and online pharma seller 1mg.com. Amway has already obtained injunctions in these instances.â1mg is willing to assure that if and when the plaintiffs inform 1mg about any unauthorised sale of Amway products being sold on its platform, his clients would take immediate steps to take down all such Amway products,â a senior lawyer for 1mg told the court, according to a September 19 court order.âWe are in fully compliance with that and respect the orders of the court,â Ishani Chandra, lawyer for 1mg, told ET. Snapdeal said it has been made a party in a dispute between Amway and its sellers.âThe dispute pertains to alleged breach of Amwayâs code of conduct and other agreements inter se between Amway and its distributors. Snapdeal is not privy to such arrangements,â a Snapdeal spokesperson said in an emailed response. âSnapdeal has complied with the interim order by the honâble court and has taken down listings of the products and provided information as required under the order. We are supportive of the legal rights of all parties.â
- Sabarimala protests: Will shut shrine if women climb temple, says head priest
- Will shut Sabarimala temple if women are allowed: Main priest
- J&K: Three militants killed as Army foils infiltration bid in Uri
- Wealth per adult in India at $7,020, China at $47,810
- #MeToo movement: Riyas Komu accused of misconduct, apologises
- Odisha man walks 8 km with body of daughter
- Roman Catholic church faces inquiry into sex abuse in US
- Pompeo neither heard recording nor read transcript of Khashoggi’s disappearance: US official
- Govt likely to appoint new Chief Economic Advisor in next couple of months
- India vs West Indies: Virat Kohli & Co. start training in Guwahati ahead of 1st ODI
- Will shut Sabarimala temple if women are allowed: Main priest
- Roman Catholic church faces inquiry into sex abuse in US
- RRB Group C 2018: Date extended for refund, websites to claim
- Bye-bye $1 yoga pants from China as Trump nixes postal discount
- Asian Champions Trophy: India launch title defence with 11-0 win over Oman
- Activist Rehana Fathima climbs down from Sabarimala, but this was another bid to break the glass ceiling
- Mukesh Chhabra suspended as director of Kizzie Aur Manny amid sexual harassment allegations
- Pakistan vs Australia 2nd Test Day 4 Live: Catch Live score and updates of PAK vs AUS 2nd Test Day 4.
- Kohli & Co. start training ahead of 1st ODI
- India register 11-0 win over Oman
- Most corrupt bookies are Indians: ICC official
- La Liga says govt tax hike may scare players
- Kyrgios pulls out of Kremlin Cup
- FA 'seriously concerned' by abuse of Carney
- Sabarimala protests: Two women agree to return as protestors block entry
- Two women attempted to make their way to the shrine on Friday with police escort. However, they turned back once it became apparent that the…
- ‘Ayodhya matter must be settled by court’: Nitish Kumar’s JD(U) differs on Bhagwat’s stand
- The statement came after ABC News claimed that Pompeo heard the alleged audio recording during his meeting with the Turkish officials in Ankara.
- RRB Group C 2018: Date extended for refund, websites to claim
- RRB Group C ALP, technician 2018: The candidate was scheduled to submit the details on or before October 1, which was extended till October 6, and now the date has further been extended to October 21 to facilitate the candidates
- Dussehra 2018 LIVE UPDATES
- Sensex cracks 408 points on global sell-off, Nifty below 10,400
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- Three months after joining BJP, Shankarsinh Vaghelaâs son resigns from party
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- Angry crowds block women from Hindu temple
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- Mumbai, Oct 19
- The benchmark index of Bombay Stock Exchange (BSE) on Friday tumbled down by 410 points to 34,369.48 on heavy selling in blue chip companies like Reliance Industries (RIL), Infosys and YES Bank amid negative Asian cues.
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- New Delhi, Oct 19 (UNI) According to the Global Competitiveness Report 2018 of World Economic Forum, India ranks 58th, up five places from 2017 out of 140 economies.
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- Three militants killed as Army foils infiltration bid in Baramulla
- U-Turn Incoming? Kerala Government Says It Will Welcome Any Review Petition Filed Against Sabarimala VerdictÂ
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- PHOTO: President Donald Trump talks to Nikki Haley, the U.S. Ambassador to the United Nations, at the United Nations General Assembly at U.N. headquarters, Sept. 24, 2018.
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- Deputy Prime Minister and Labour Minister Luigi di Maio(L), Italian Prime Minister Giuseppe Conte(2L), Italian deputy Prime Minister and Interior Minister Matteo Salvini(2R) and Italian Economy and Finances Minister Giovanni Tria(R) hold a press conference on the Italian budget on October 15, 2018 in Rome, Italy.
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- US Ambassador to Afghanistan the Honorable John Bass, Secretary of Defence James Mattis and Army General Scott Miller in Kabul. Mattis on Friday said it was too soon to say if the death of General Abdul Razeq, the police commander in southern Kandahar. Photo: Tribune News Service
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- China has frequently complained about US B-52s carrying out missions over the disputed waters. Photo: AP
- An artificial moon proposed for a Chinese city would be eight times brighter than the real thing. Photo: SCMP
- Intelligent connected cars herald a ânew eraâ for cars, Chinaâs industry minister says
- US Secretary of State Mike Pompeo had contentious talks with Chinese State Councillor and Foreign Minister Wang Yi during a visit to Beijing earlier in October, a marked contrast from his friendlier discussions with Saudi Crown Prince Mohammed bin Salman, even after allegations that Riyadh planned the killing of a journalist at the Saudi consulate in Istanbul. Photo: AP
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- Hong Kong and Macau Affairs Office director Zhang Xiaoming reinforces âzero toleranceâ towards issue, and says warnings reflected central governmentâs long-standing policy on matter
- Carolyn Fortney, a survivor of sexual abuse at the hands of her family's Roman Catholic parish priest as a child, awaits legislation in the Pennsylvania Capitol to respond to a landmark state grand jury report on child sexual abuse. Photo: AP
- China could be set to begin scouring the world in a search for players who can be naturalised to play in the CSL or ultimately represent China. Photo: AFP
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- United Malays National Organization's (UMNO) president Ahmad Zahid Hamidi arrives at the Malaysia Anti-Corruption Agency in Putrajaya, Malaysia, on Thursday. Malaysian former deputy PM Ahmad Zahid Hamidi, who is now the head of the opposition Malay party, is expected to be detained and charged on Friday with corruption related to misappropriation of funds in his family-run charity group.
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Ryan Zinke violated travel policies Trump threatens to close southern US border 2 top Afghan officials killed in insider attack UFO seen in New Jersey was actually a drone Forecasters unveil weather outlook for winter 37m ago Man rescued from 100-foot-deep mine shaft Fans got special Millennium Falcon scene in 'SOLO The real problem with Elizabeth Warren's DNA test 1h ago 05.10.2018 [11:57] 19.10.2018 [10:40] 19 hours ago First round of iPhone XR reviews just hit the web much sooner than expected This is the crazy new all-screen design that’ll reportedly replace the notch next year 6 hours ago 7 hours ago HTC is about to introduce the world’s first blockchain phone Lenovo is reportedly making a 13-inch tablet with a foldable screen 8 hours ago 9 hours ago Jacob Siegal 3 days ago 12 hours ago Our favorite smart lock now comes with exciting new features, and itâs finally in stock on Amazon 2 days ago All the Huawei Mate 20 features you won’t find on other Android flagships right now Everything new coming to Netflix this week, and everything leaving (week of Oct. 14) October 13th at 2:04 PM One of Amazon’s most popular air fryers is on sale at its lowest price ever Amazon’s running a rare sale on a mop that cleans floors like nothing you’ve ever seen before Humans have found a way to kill the world’s largest living organism Russia thinks it knows why its trusty Soyuz rocket failed 4 days ago Google explains how the Pixel 3’s impressive Titan M chip secures the phone Your support ID is: 2196500989037295673. 12.20PM IST Basin and Toilet in one single piece? Puneites bought 2/3 Bhk in Pune at Rs 32 Lakh Business basics Foreign trade Market musings Corporate trends Flight plans Bhutan seeks happiness in new ... This man seeks home for Apple ... Starting trouble for India's b... This festive season, own the BMW 5 Series Avail an effective ROI of 7.99% and Complimentary Service & Maintenance for 3 Years Internally code-named 'Ripley', the device would use AI to automatically detect and follow people. Obesity is a pandemic disease and is one of the primary causes of preventable death. While the message is good at heart, the clichéd story-telling makes the film a drag. Lip fillers last for over a year, and the entire procedure takes only 15 minutes. In the midst of the #MeToo movement, B-town also urged people to respect women. The actor said that such incidents may make new talent wary of entering the film industry. It will also show a link to the rules and an article that provides more detail on how it enforces them. The voluntary, non-binding guidelines on air encounters build on an existing code to manage sea encounters adopted last year by ASEAN and its "plus" partners - Australia, China, India, Japan, New Zealand, Russia, South Korea and theUnited States. Copyright:(C)Fri 19 Oct 2018, 12:05:302018Fri 19 Oct 2018, 12:05:30 Bennett Coleman & Co. Ltd, http://info.indiatimes.com/terms/tou.html No place for Naresh Goyal in Tatas' plan for JetTata is interested in an outright purchase either of the entire company or its assets such as aircraft. Copyright:(C)Fri 19 Oct 2018, 12:12:082018Fri 19 Oct 2018, 12:12:08 Bennett Coleman & Co. Ltd, http://info.indiatimes.com/terms/tou.html Next Tuesday, Hyundai will relaunch Santro, the hatchback that made its name in India. It will be the first of seven launches or new version relaunches in the entry car segment planned over the next three years. Joining Hyundai will be Maruti Suzuki, Renault-Nissan, Datsun and Tata Motors.According to Gaurav Vangaal, senior analyst for forecasting at IHS Markit, India is set to surpass Japan to become the largest market for the entry or A segment cars, accounting for 30 per cent of global production.But at just 17.3 per cent of market share, hatchbacks have long lost their dominance in Indiaâs car market. So, why the flurry of new small cars? Because carmakers are planning to ride to Bharat, and sell entry level cars â" the sub- Rs 6 lakh category â" to millions of Indians outside Tier 1 and 2 cities where per capita auto ownership is still vanishingly small. And where the fact that Indiaâs small cars are among the cheapest in the world will be a big marketing plus. Reforms are on the anvil in the US to ensure that H-1B visas are awarded where the beneficiaries (potential employees sponsored for the visa) are the most skilled or highest paid. This proposal in President Donald Trumpâs fall agenda is consistent with the âBuy American, Hire Americanâ executive order signed by him in April last year.It means yet another challenge to companies hiring H-1B workers. According to immigration attorneys, it could be more difficult for companies to sponsor H-1Bs for bright students who have undertaken an optional practical training with them as applications with entry-level salaries (even if fully justified in this case) are likely to be rejected. Together with a more narrow definition of what constitutes a specialised occupation, the potential to hire H-1B workers could be significantly reduced.The proposal adds, âThis regulation would help to streamline the process for administering the H-1B cap and increase the probability of the total number of petitions selected under the cap filed for H-1B beneficiaries who possess a masterâs or higher degree from a US institution.âEmily Neumann, Houston-based immigration attorney and partner at Reddy & Neumann, points out, âThere is no additional information at this time regarding how exactly USCIS (US Citizenship and Immigration Services) intends to increase the probability of selection for masterâs holders.âCompanies are waiting for the draft policy to be rolled out to ascertain whether applications for those who have studied in the US would be selected for H-1B, even if the salary is at an entry level. Annually, only 65,000 H-1B visas are allotted under the regular cap (also known as general quota) and an additional 20,000 visas under the masterâs cap (for those having an advanced degree from US universities).Each year, since 2013-14, USCIS has had to resort to a lottery mechanism as the number of applications far exceeded the annual quotas. The number of applications had hit a peak in 2016-17 with 2.36 lakh applications. For the 2018-19 season (FY 2019), which would permit successful visa applicants to work in the US from October 1, the US agency received 1.90 lakh applications, of which 95,885 were for the masterâs cap. Cases not selected in the masterâs cap lottery were then placed in the general category lottery for random selection.An electronic registration programme for H-1B applications has also been proposed. An immigration counsel at an India-headquartered tech company says a pre-registration system may be introduced. Sponsoring companies will pre-register electronically for the annual lottery and then file full-fledged documentation, if the application is selected in the lottery. by Noah SmithDuring the past three decades, there has been a momentous change in the global economy. One of the most troubling and puzzling features -- the failure of poor countries to catch up to developed countries -- has seemingly been overturned.Basic growth theory says that developing countries should grow faster than rich ones. One reason is that capital has diminishing returns -- as you build more offices, more houses, more cars and machine tools and computers -- the economic benefit of building yet more of those things goes down, even as the cost of maintaining them goes up. Second, poor countries can grow fast by copying technology and business practices from rich countries, which is almost always cheaper and easier than inventing new technologies and business practices from scratch.But, as so often happens in economics, reality has often failed to behave as theory predicts. Economist Lant Pritchett has documented that between 1870 and 1990, inequality between countries soared, with Europe, Japan, the U.S. and a few other countries pulling away from the pack. Of course, much of that divergence was probably due to the impact of colonialism -- itâs hard for a country to get rich when itâs under the thumb of another country. But even after decolonization, poor countries struggled to catch up for several decades. Economists Robert Barro and Xavier Sala-i-Martin found that between 1960 and 1985, poor countries continued to lose ground relative to rich ones. So was growth theory simply wrong? Maybe. All growth theories contain a fudge factor representing a nationâs fundamental capacity for productivity -- the education of its populace, the quality of its political institutions, war, damaging government interventions and so on. Controlling for measures of these things, Barro and Sala-i-Martin found that developing nations had tended to catch up -- the problem was that too many poor countries fell into civil war or embraced communism or failed to educate their burgeoning populations, degrading the institutions needed to sustain growth. Economists settled on the uncomfortable idea that most poor countries didnât have what it takes, politically, to grow.Then something amazing happened. Shortly after Barro and Salai-Martin's 1992 landmark paper, the story of global growth seemed to change. Many poor countries languished in the 1990s due to low resource prices (poor countries are often natural resource exporters). China, which had been slowly making up lost ground since the end of Mao Zedongâs rule in the 1970s, saw its growth accelerate in the 1990s. India and Indonesia also started to catch up, thanks in part to their own economic reforms.These countries were so large -- together accounting for almost 40 percent of the world's population -- that their growth began to drive down global inequality: Amway has taken Flipkart to the Delhi High Court, accusing the Walmart-owned company of âunauthorisedâ selling of the US direct-selling giantâs products on the ecommerce platform.It has alleged that Flipkart âcontradictsâ Indiaâs guidelines that mandate ecommerce companies must seek prior permission from direct-selling companies like Amway to list such products online, said a person with knowledge of the matter.âAmway direct sellers are not allowed to sell through third-party shops or through online,â said another person familiar with the case. âBut it is a volume game and some sellers sell it cheaper online and that they cannot do.âAnother source said Amwayâs sales representatives are bound by the companyâs code of ethics that bar representatives from selling the products through other platforms.Amway has also accused sellers on Flipkart of tampering with and erasing the unique code imprinted on lids and silver foil seals, making it impossible to trace the source, said the first person cited. BELLEVUE: Software firm Icertis which provides enterprise contract management in the cloud to enterprise businesses is doubling down on the Asia Pacific region driven largely by India. The firm which counts IT giants like Infosys, Wipro, Genpact, Cognizant as also Lupin and Mindtree amongst its clients in India is looking to widen its clientele in the country for which it is in talks with leading firms in the banking, manufacturing and pharma industries.âIndia is a very important business geography for Icertis both in terms of sales and from an engineering talent availability perspective. Currently, about 10% of our revenues come from APAC with a majority of that driven by India,â Samir Bodas, co-founder and CEO of the Bellevue-based firm told ET. âOver the next 3-5 years, we will see that number growing to 20%,â Bodas outlined.Icertisâ 2018 revenues are pegged between $50-80 million and the firm works with clients which clock revenues of atleast $1 billion or more. The firm competes with the likes of IBM, SAP and Oracle globally.The enterpise contract management software platform which raised $50 million earlier this year in a round led by Meritech Capital Partners also counts the B Capital Group and Ignition Partners amongst its investors. The firm was last valued at over $500 million and has raised $96 million since its inception in 2009. Icertis manages over $6 billion worth of contract value globally, with 2 million users across 120 clients. The market cap of the its clients globally, is at a whopping $2.75 trillion as it counts some of the biggest tech companies including Microsoft on its client chart. For India, the firm has 12 large clients based in India with the Asia Pacific headquarters based in Pune. The India office serves as a centre not just for research and development, but also professional services, sales and support services with over 500 employees in the Pune office alone. Globally, Icertis is growing at a rate of 85-90% annually but the firm maintains that the Asia Pacific business, a majority of which is contributed by India, is growing faster than that, underscoring the importance of the region in the firm's global plans going forward. âOur aspiration is to be the contract management leader of the world and hence we will eventually have plays across the world and across industries,â Bodas said.Following growing demand from the region, Icertis recently opened two new offices in the APAC regions of Sydney and Singapore even as it has been strengthening its senior leadership team for the region. Globally, Icertis is growing at a rate of 85-90% annually but the firm maintains that the Asia Pacific business, a majority of which is contributed by India, is growing faster than that, underscoring the importance of the region in the firm's global plans going forward. âOur aspiration is to be the contract management leader of the world and hence we will eventually have plays across the world and across industries,â Bodas said.Following growing demand from the region, Icertis recently opened two new offices in the APAC regions of Sydney and Singapore even as it has been strengthening its senior leadership team for the region.(The writer is in Seattle at the invitation of TiE Mumbai) new details emergedInternational Edition PlayStation Vue updated with TV app integration on iOS & tvOS
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