- A + A KUALA LUMPUR (Jan 17): The Thaipusam celebration on Tuesday at the Sri Subramaniar temple in Batu Caves, Malaysia that used to draw hundreds and thousands of devotees annually, and thousands more tourists, will once again be a subdued affair. It is the second consecutive year the colourful and vibrant Thaipusam celebration atmosphere in Malaysia has been scaled down, much do the disappointment of the devotees and tourists. The only consolation is that the sight of 'paal koodam' bearers in yellow carrying milk pots and the chariot procession, albeit in a limited scale, provides some indication of the celebration. No thanks to the continuing Covid-19 pandemic and the strict SOPs enforced by the National Security Council to contain the pandemic, especially with the emergence of the Omicron variant that is said to spread faster. With no kavadis allowed by the temple management, and the number of devotees entering the temple ground capped at 9,000 on … [Read more...] about Amidst Covid-19, Malaysia’s Thaipusam celebration scaled down for the second year in a row
Second quarter 2019
Brian Klaas is an associate professor of global politics at University College London and a columnist for the Washington Post , where he frequently comments on U.S. foreign policy and democratization. For his latest and fourth book exploring the acquisition and repercussions of power, he traveled around the globe and interviewed more than 500 powerful people—from CEOs to cult leaders—and scoured the world for experts who research power, such as neuroscientists, behavioral economists, and anthropologists. advertisement advertisement Below, Klaas shares five key insights from his new book, Corruptible: Who Gets Power and How It Changes Us . Listen to the audio version—read by Klaas himself—in the Next Big Idea App. 1. Power doesn’t just corrupt—it attracts the corruptible. We’ve all heard Lord Acton’s famous aphorism: power tends to corrupt, and absolute power corrupts absolutely. Lord Acton was correct, but that’s just the tip of the iceberg. … [Read more...] about I interviewed more than 500 powerful people—from CEOs to cult leaders. Here’s why second-in-command is better
Paris Cognac sales surged by nearly a third last year as American and Chinese drinkers guzzled old vintages, in the latest sign premium drink makers are putting the pandemic behind them. Sales of the brandy, produced in the Cognac region of France, rose by almost 31% in value to 3.6 billion euros ($4.1 billion), industry group BNIC said Monday. Volumes were up 16% to 223.2 million bottles. High-end Champagne shortage could ruin your New Year's Eve "This growth reflects a real recovery of cognac, as well as new consumption habits," BNIC said in a statement, noting sales had also risen compared with 2019, before the pandemic struck. The outlook should remain positive in the coming months for all destinations, BNIC added. Read More The news comes after France's champagne industry said last month it expected record sales in 2021, and follows strong results from several spirits companies. Cognac sales to its largest … [Read more...] about Cognac sales jump 31%, thanks to the US and China
(Representational image) Total employment generated by nine select sectors stood at 3.10 crore in the July-September 2021 quarter, which is 2 lakh more than that of the April-June period, according to a quarterly employment survey by the labour ministry released on Monday. The quarterly employment survey (QES) report released by Union Labour Minister Bhupender Yadav said that total employment numbers in the nine select sectors were 3.08 crore in April-June 2021. The rise shows improvement in economic activities after lifting of lockdown restrictions by states to curb the spread of deadly virus after the second wave of the COVID-19 pandemic hit the country in April 2021. These nine sectors are Manufacturing, Construction, Trade, Transport, Education, Health, Accommodation and Restaurant, IT/ BPO and Financial Services, accounting for a majority of the total employment in the non-farm establishments. This is the second report in the series. First report was for April-June … [Read more...] about Total employment in 9 select sectors rises to 3.10 crore in July-September 2021
File image of US President Joe Biden (AP Photo/Alex Brandon) Joe Biden was Barack Obama’s vice president. His Treasury secretary, Janet Yellen, was Obama’s pick to lead the Federal Reserve. The director of Biden’s National Economic Council, Brian Deese, was deputy director of Obama’s National Economic Council. His chief of staff, Ron Klain, was his chief of staff for the first two years of the Obama administration and then Obama’s top Ebola adviser. And so on. The familiar names and faces can obscure how different the new administration, in practice, has become. The problems Biden is facing are an almost perfect inversion of the problems Obama faced. The Obama administration was bedeviled by crises of demand. The Biden administration is struggling with crises of supply. For years, every conversation I had with Obama administration economists was about how to persuade employers to hire and consumers to spend. The 2009 stimulus was too small, and while we avoided a second … [Read more...] about This isn’t the presidency Joe Biden imagined for himself
Near-term economic prospects have brightened on hopes that the surge in COVID-19 cases caused by the Omicron variant may only be a "flash flood" and not a wave, according to staff of the Reserve Bank of India (RBI). "As the world stepped into the new year, the path of the recovery in India as in the rest of the global economy encountered headwinds from a rapid surge in infections due to Omicron," RBI staff wrote in their monthly State of the Economy article, released on January 17. "More recently, expectations that Omicron may turn out to be more of a flash flood than a wave have brightened near-term prospects," the article added. The article, authored by staff from various departments of the RBI, does not necessarily represent the views of the central bank. The rapid increase in daily infections starting late December 2021 forced the re-imposition of restrictions on movement and activity in several parts of the country. However, daily new cases are already showing a … [Read more...] about Near-term economic prospects brighter on hopes Omicron a flash flood, not wave, RBI staff say
Share prices of Rivian Automotive ( NASDAQ:RIVN ) briefly fell to $75.13 per share on Friday before closing the session at $79.95 per share. It was the first time Rivian stock dipped below its initial public offering (IPO) price of $78 per share. The sell-off marks over a 55% drawdown from the stock's all-time intraday high of $179.47 per share set on Nov. 16, 2021. Here are arguments for and against buying the electric vehicle (EV) stock now. Image source: Rivian Automotive. Take advantage of inefficient markets Howard Smith : Markets aren't always efficient, and that's how investors can gain an advantage. While Rivian shares have dropped recently in concert with many high-growth tech names, one of the biggest dips came with the news that Amazon ( NASDAQ:AMZN ) was starting a partnership with Chrysler parent Stellantis ( NYSE:STLA ) to supplement its supply of electric delivery vans. Prior to this news, investors only knew that Amazon -- an early … [Read more...] about Rivian Stock Just Fell Below its IPO Price of $78 Per Share: Time to Buy?
O n a Monday in April, Shannon Spanhake stood at the front of Cleo’s office as her executive team lined up beside her. It had been only a few months since her parenting benefits startup had raised its latest round of funding—$27.5 million from blue-chip venture capital firm NEA—and Cleo’s CEO and cofounder was telling staff to push harder. A lot harder. The San Francisco-based company’s 50-person workforce needed to spend more time in the office and raise their performance to what she considered “an A-plus-stage appropriate team,” according to four former and current employees who heard the talk. She wanted no complainers. There was not enough hustle and not enough presence at work. One bullet point from the slideshow spelled it out: “Expect to work 50- to 60-hour weeks.” Her presentation got cut short before she could get to the next part. The company’s work-from-home policy was being eliminated. The harangue stunned some of Cleo’s employees, who felt that it flew in the … [Read more...] about Exclusive Investigation: How Lies And a Troubled Workplace Brought Down The Founder Of $115 Million Cleo
Share to Twitter Share to Linkedin The fact that we are in the grip of a global energy crisis is now beyond doubt. In the UK there are a slew of energy businesses going into administration, and pleas for government bailouts for energy intensive manufacturers. In the domestic economy, there are spiralling numbers of old people who, having survived Covid-19, are forecast to perish unless the winter is exceptionally mild. In recent months, France has seen some of its fastest growing green energy suppliers lose customers at a rapid rate, as the green premium looks increasingly unaffordable. Hydroption, a supplier of low carbon electricity, has been placed under judicial administration after failing to pay its suppliers and debts. India has suffered too, with shortages of coal in the second half of 2021 leading to outages and curbs imposed on energy hungry industries. In China, companies in the industrial heartlands have been told to limit consumption, and … [Read more...] about Will The Energy Crisis Help Clean-Up Bitcoin?
Representative image India needs a second green revolution along with the next generation of reforms with a view to make agriculture more climate-resistant and environmentally sustainable, said an RBI article on farm sector challenges. Observing that Indian agriculture has exhibited remarkable resilience during the COVID-19 period, the article said "new emerging challenges warrant a second green revolution along with next-generation reforms". Despite the success in terms of production that has ensured food security in the country, food inflation and its volatility remain a challenge, which requires supply-side interventions such as higher public investment, storage infrastructure and promotion of food processing, said the article titled 'Indian Agriculture: Achievements and Challenges'. The article said Indian agriculture scaled new heights with record production of various foodgrains, commercial and horticultural crops, exhibiting resilience and ensuring food security during the … [Read more...] about India needs Green Revolution 2.0 to make agri more climate-resistant, sustainable: RBI