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[ad_1] In view of a spike in coronavirus cases in the national capital, the Delhi government on Wednesday decided to make the wearing of masks mandatory again in public places and impose a fine of Rs 500 in case of a violation. The decision was taken at a meeting of the Delhi Disaster Management Authority (DDMA), which also decided not to shut schools and come up with separate Standard Operating Procedures (SOPs) in consultation with experts for them. Lt Governor Anil Baijal in a series of tweets shared details of the DDMA meeting and said,”it was decided to make the wearing of masks mandatory in public places.” The government is expected to issue an official order regarding the mandatory use of masks soon. Fine on not wearing a mask was lifted by the Delhi government on April 2 after the decline in COVID cases in the city. The DDMA meeting emphasised strict enforcement of the SOPs for schools by the school management concerned. “In the larger interest of students, in case of non-compliance or violation of SOPs, a penalty as deemed appropriate should be imposed for creating a deterrent effect,” Baijal tweeted. Officials said authorities have been asked to keep a close watch on social gatherings and ramp up testing in the national capital. They said Chief Minister Arvind Kejriwal is closely monitoring the situation and instructions have been issued to officials to ensure the implementation of steps to check the spread of the virus and preparations for the treatment of COVID patients. In the DDMA meeting, emphasis was also laid on early vaccination of eligible groups as it will help keep in check the impact of the pandemic, officials said. Several participants asserted that there was no need to panic since the number of hospitalisations was low despite a rise in COVID cases, they said. It was highlighted that the trends of hospitalisation needed to be closely monitored for the next fortnight as well as conducting genome sequencing of all positive samples, put through the RTPCR test. It was also decided to increase the number of tests being done with the focus on people with symptoms, they said. The DDMA meeting, chaired by Baijal, was also attended by Kejriwal, Deputy CM Manish Sisodia, and other top officials and experts. The LG advised all the agencies to remain vigilant and work in coordination to tackle the situation as it emerges. According to official figures, there are 9,735 beds for COVID patients in Delhi hospitals and just 80 (0.82 per cent) of them were occupied. The health department said 632 fresh cases were reported on Tuesday and the positivity rate was 4.42 per cent. The number of daily COVID-19 cases in Delhi had touched the record high of 28,867 on January 13 this year during the third wave of the pandemic. The positivity rate had soared to 30.6 per cent on January 14, the highest during the third wave. [ad_2] Source link

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[ad_1] Interactive Brokers Stock Dips on Revenue Miss, Analyst Reaction Mixed [ad_2] Source link

[ad_1] Around 34 per cent of Pakistan’s population lives on just USD 3.2 or Rs 588 a day income, the World Bank has said as the cash-strapped country’s new Finance Minister Miftah Isamil faces uphill tasks of containing rising inflation and navigating through one of the worst external sector crisis. The Pakistan Development Update – the biannual report issued by the Washington-based lender – said that soaring inflation disproportionately affected poor and vulnerable households that spend a relatively larger share of their budget on food and energy, the Express Tribune Newspaper reported on Wednesday. The poor spend around 50 per cent of their total consumption on food items, the World Bank said in the report released on Tuesday, the day Prime Minister Shehbaz Sharif appointed Isamil as the finance minister. The report pointed out that Pakistan’s key indicators were further deteriorating in the current fiscal year, seeking urgent measures to tighten the fiscal belt for ensuring debt sustainability. Poverty measured at the lower middle-income class poverty line of USD 3.2 Purchasing Power Parity line of 2011 per day was estimated at 34 per cent in the last fiscal year. The ratio was 37 per cent in the preceding year. But despite a nominal reduction, the percentage was significantly higher and it would be a constraint for the new government that was assigned with an uphill task to ensure economic viability of the country, the report said. Ismail, along with Dr Ayesha Ghaus Pasha, who has been assigned the portfolio of minister of state for finance would leave for Washington on Wednesday to have their first interaction with the authorities at the US Treasury Department, the International Monetary Fund and the World Bank. “I am hopeful that I will be able to convince the IMF to revive the programme on terms that also take into account harsh ground realities in Pakistan,” Ismail was quoted as saying. His one of the most important meetings would be at the US Treasury Department, as the country seeks to repair ties with the world’s largest economy, damaged by immature public statements by former prime minister Imran Khan and former foreign affairs minister Shah Mahmood Qureshi. But the World Bank’s Pakistan Development Update report tells what lies ahead for the new finance minister. It cautioned that rising food and energy inflation was expected to diminish the real purchasing power of households, disproportionately affecting poor and vulnerable households that spent a larger share of their budget on these items. However, with higher inflation, increasing borrowing costs and political uncertainty, business and consumer confidence had been trending lower after reaching a pandemic high in June 2021. The World Bank said that the inflation was estimated to rise to an average of 10.7 per cent in fiscal year 2021-22 as against the target of 8 per cent, reflecting higher oil and commodity prices. Headline inflation in Pakistan was the highest in South Asia, where the regional average was 6 per cent during the first half of the current fiscal year. Energy inflation reached 25.1 per cent on a yearly basis in urban areas and 22.6 per cent in rural areas in the current fiscal year. The World Bank report underlined that given the current significant imbalances in the external sector and low external buffers, macroeconomic adjustment, specifically fiscal consolidation to complement ongoing monetary tightening, was urgently needed. Heightened domestic political uncertainty over the past few months had slowed the implementation of key reforms to improve overall fiscal and debt sustainability. Going forward, further policy reform slippages and delays in adjustment measures were likely to exacerbate the already widening macroeconomic imbalances, it said. Meanwhile, the IMF has kept its growth forecast for Pakistan unchanged at 4 per cent for fiscal year 2022, though it noted that near-term risks from rising inflation and a changing external environment had increased and sharply revised the Fund’s projections for the country’s current account deficit and inflation. It now expects the current account deficit to rise to 5.3 per cent of GDP by end-June 2022, from a previous forecast of 4.1 per cent, mainly due to imports of oil and commodities. In the World Economic Outlook released in Washington, the IMF projected Pakistan’s current account deficit to hit USD 18.5 billion this fiscal year. Previously the Fund had projected a deficit of USD 12.9 billion for FY2022. The Fund estimates that Pakistan requires gross external financing of over USD 35 billion in the current fiscal year on a current account deficit of 5.3 per cent of GDP in FY2022. The IMF also raised its inflation forecasts for Pakistan to 12.7 per cent on an average for the current fiscal from the previous projection of 9.4 per cent. The CPI inflation stood at 12.7 per cent in March 2022. [ad_2] Source link

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[ad_1] By Kapil Makhija In the last few years, India’s retail industry has emerged as one of the most dynamic and fast-paced industries with a large population of young aspiring consumers. According to the Unicommerce e-commerce fashion report, the fashion industry reported a 51 per cent order volume growth in FY 2021 as compared to the previous financial year. This showcases the immense growth potential in the fashion e-commerce domain, especially when we are moving towards the world of multiple touchpoints, where brands are looking to connect with consumers across online and offline platforms. The fashion segment is known to be an early adopter of new technology as they continue to focus on personalization and customer experience with a digital-first mentality. We have seen a platonic shift in brand mindset, with traditional offline retail companies building an online presence and D2C and digital-first brands gradually working towards building an offline presence.  Fashion brands are the trendsetter of the retail and e-commerce industry, we have listed down how the industry is going to reshape with technology, supply-chain innovations, and building a strong customer value proposition. Getting smarter with artificial intelligence  Artificial Intelligence is one of the most exciting technological trends in the fashion market. AI holds the potential to transform the fashion industry with customer experience as the key area of focus. Fashion is becoming all about personalized experience and brands are deploying AI technology to address every customer’s need individually. There are multiple use cases of AI, some of the common use cases are visual recognition where the algorithm recommends similar-looking apparel to customers, predicting trends by understanding social media chatters and consumer behavior, purchase recommendations based on the previous buying behavior, and time spent on various pages at the brand website, and many more.  Connecting with consumers through chatbots and conversational commerce Another trend that is gaining momentum in fashion e-commerce or e-commerce at large is the adoption of chatbots, an increasing number of D2C brands are now using chatbots for customer-facing interactions like handling customer queries and customer engagement to cross-sell and upsell. Another interesting use case of Chatbots is conversational commerce, where companies are leveraging social media platforms like Whatsapp, Instagram, and Facebook to sell directly to consumers. It’s becoming another prominent platform for D2C commerce. Consistent rise in D2C fashion brands All leading fashion brands are setting up their online stores to sell directly to consumers. Fashion is one of the biggest categories with the rising number of D2C players. Companies have realized that D2C is not just about selling directly or better margins, it’s more about having better control on customer experience, along with full visibility on customer data, and direct access to consumer leverage brand loyalty. This helps brands in planning their future growth strategy. The D2C adoption has also encouraged companies to increase their investment in technology solutions and establish robust e-commerce operations to meet the rising consumer demand on the brand website. D2C brands will now further explore new digital avenues like social commerce, mobile apps to connect with consumers across various platforms and become an important part of their daily lives. Building a strong supply chain and investing in technology In the world of instant gratification, it has become increasingly important for brands to ensure a smooth and enhanced post-purchase delivery experience for consumers. As e-commerce volume continues to rise, brands are establishing multiple warehouses, to ensure faster order fulfillment. This has led to increased investment in supply-chain technology solutions such as order management, inventory management, warehouse management, and logistics management. These solutions enable brands to have clear inventory visibility of inventory across multiple warehouses and streamline order processing, leading to operational efficiency in the system. Connect with consumers across sale channels with an omnichannel solution The pandemic has accelerated the need for the adoption of omnichannel strategy amongst fashion brands. Omnichannel has been the ‘buzzword’ of modern retail for quite some time now, and companies have different ideas of how to leverage omnichannel for their business. One of the important aspects of omnichannel is to ensure a consistent shopping experience across offline and online shopping platforms. It’s a win-win situation for both marketplace and brands, as brands whose offline stores are running at low capacity are able to clear inventory and marketplaces can fulfill orders at a much faster pace by shipping orders directly from the nearest brand store, besides providing a richer assortment to the end consumers.   Strong growth of fashion marketplaces  The fashion e-commerce marketplace segment has been predominantly led by Myntra. Myntra has truly revolutionized the fashion e-commerce space and is the biggest player in the segment. However, over the last couple of years, Reliance backed Ajio and Tata-owned Tata Cliq have been able to build a strong presence with a gradually growing market share. All the marketplaces are battling for consumer attention and building brand loyalty. Indian fashion e-commerce is a huge market and there is enough scope for multiple marketplaces to co-exist and continue to grow their business. The fashion industry of India has always been at the forefront of re-inventing, re-strategizing, and re-aligning themselves to rapidly evolving business environments and changing consumer needs. The fashion industry has also seen multiple retail brands building successful online businesses. Fashion and accessories generate the maximum order volume share of the overall e-commerce industry and will continue to lead the industry with its continuous innovations and technology adoption (Kapil Makhija is the CEO of Unicommerce) [ad_2] Source link

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[ad_1] Swiss National Bank chairman sees inflation rise as temporary [ad_2] Source link