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Ivanka Trump unleashes charm offensive at GES 2017 in Hyderabad

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Ivanka Trump unleashes charm offensive at GES 2017 in Hyderabad

[vc_row][vc_column][vc_column_text]Advisor to her father, US President Donald Trump, Ivanka says Modi’s journey from a tea-seller to Prime Minister shows transformational change is possible

As she addressed the inaugural session of the Global Entrepreneurship Summit, 2017 in Hyderabad on Tuesday, Ivanka Trump – daughter and advisor of US President Donald Trump – unveiled a charm offensive for India in general and Prime Minister Narendra Modi in particular.

At a time when the Congress and BJP are embroiled in a bitter war of words over the former chiding Narendra Modi’s ‘chaiwala’ past, Ivanka began her address drawing on the same issue but in a manner that the Indian Prime Minister is not only likely to take pride in but also paraphrase to his advantage while campaigning for the upcoming Gujarat Assembly polls.[/vc_column_text][vc_raw_html]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[/vc_raw_html][vc_column_text]Full of praise for Modi’s leadership of India – a country she described as a “beacon of democracy and a symbol of hope to the world” – Ivanka said of the Prime Minister: “From your childhood selling tea to your election as India’s Prime Minister, you’ve proven that transformational change is possible. And now you are bringing that promise to hundreds of millions of people across your country.”

This is Ivanka’s first major outing as head of a US delegation outside of her country, a fact that has reportedly not gone down well with the top brass of her father, US President Donald Trump’s administration, especially US Secretary of State Rex Tillerson. However, if her address at the GES 2017 is anything to go by, Ivanka Trump hasn’t let the machinations back home come in the way of her ambition of carving a global profile for herself.

Below are key excerpts from her address at the inaugural session of the three-day Global Entrepreneurship Summit, 2017 – the eighth version of which is being hosted by India in Hyderabad

On Prime Minister Narendra Modi

–          “Through your own enterprise, entrepreneurship, and hard work, the people of India have lifted more than 130 million citizens out of poverty – a remarkable improvement, and one I know will continue to grow under the leadership of Prime Minister Modi.”

–          I want to applaud Prime Minister Modi for his firm belief that “The progress of humanity is incomplete without the empowerment of women.”

On India hosting the GES, 2017

–          This is the first time India has hosted the Global Entrepreneurship Summit. It is a symbol of the strengthened friendship between our two peoples, and the growing economic and security partnership between our two nations. As President Trump said earlier this year: India has a true friend in the White House.

–          It’s wonderful to be in this ancient city brimming with transformative technology – now, your tech centers may even outshine your world-famous Biryani.

–          Today, we come together to celebrate what is happening here in India, what is happening in the United States – and all over the world: entrepreneurs are revolutionizing our economies, and improving our societies. You are rewriting the rules. You have the inspiration and drive to serve our communities through the projects you start and the businesses you build.

–          Each of you started with an idea. You’ve worked long days and nights to code the next robot, create the next app, find the next cure, and discover the next breakthrough to improve millions of lives.

On Women as Entrepreneurs

–          This year’s Summit is focused on a theme that is key to our future: WOMEN FIRST, PROSPERITY FOR ALL. I am proud that for the first time ever, women make up the majority of the 1500 entrepreneurs selected to attend. Only when women are empowered to thrive; will our families, our economies, and our societies reach their fullest potential.

–          As a former entrepreneur, employer, and executive in a male-dominated industry, I have seen firsthand that all too often, women must do more than their male counterparts to prove themselves at work, while also disproportionately caring for their families at home.

–          Globally, between 2014 and 2016, entrepreneurship activity among women increased by 10 percent. In the United States, within the last decade, the number of women-owned firms has grown by 45 percent. Even more promising, minority women have started nearly 8 in 10 new women-owned businesses. Today, more than 11 million women in the United States own businesses. They employ nearly 9 million workers, and generate over $1 trillion dollars in revenue.

–          Despite the soaring rate of female entrepreneurs, women still face steep obstacles to starting, owning, and growing their businesses… In developing countries, 70 percent of women-owned small and medium-sized businesses are denied access to capital. The result has been a nearly $300 billion dollar annual credit deficit for women entrepreneurs in the developing world.

–          In the United States, a Harvard Business Review report found that investors ask men questions about their potential for gains whereas they ask women questions about their potential for loss. This could in part explain why women entrepreneurs received less than 3 percent of venture capital funding in 2016. We are working to reverse this trend. The U.S. Small Business Administration, for example, increased its lending to women by over $500 million dollars this year alone.

–          This summer, at the G20 conference, the United States was a founding member of a bold, new initiative with the World Bank – the Women Entrepreneurs Finance Initiative, or WeFi… WeFi is the first facility to support women entrepreneurs at this scale, and we anticipate it will be able to leverage in excess of $1 billion dollars in public and private financing. This facility also seeks to address the legal and regulatory barriers that limit opportunities for women entrepreneurs.

–          When women work, it creates a unique multiplier effect.  Women are more likely than men to hire other women, and to give them access to capital, mentorship and networks. Women are also more likely to reinvest their income back in their families and communities.[/vc_column_text][/vc_column][/vc_row]

India News

Zomato introduces Food Rescue feature

“We don’t encourage order cancellation at Zomato, because it leads to a tremendous amount of food wastage,” he said.

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Zomato has introduced a new feature called Food Rescue to minimise food wastage, announced the food delivery platform CEO Deepinder Goyal on Sunday.

Announcing the new feature on X, Goyal said the decision, to introduce the new feature, was taken to prevent the tremendous amount of food wastage due to order cancellation on the platform.

Committed to minimising food wastage, the Zomato boss said: “We don’t encourage order cancellation at Zomato, because it leads to a tremendous amount of food wastage.”

Goyal said despite having stringent policies, and a no-refund policy for cancellations, more than 4 lakh perfectly good orders get cancelled, for various reasons by customers.

He said the top concern for the online food delivery platform, the restaurant industry, and even the customers who cancel these orders, is to somehow save the food from going to waste.

With the launch of the new feature, Food Rescue, cancelled orders will now pop up for nearby customers, who can grab them at an unbeatable price, in their original untampered packaging, and receive them in just minutes.

According to Zomato, the cancelled order will pop up on the app for customers within a 3 km radius of the delivery partner carrying the order. To ensure freshness, the option to claim will only be available for a few minutes.

The online food delivery platform will not keep any proceeds except the required government taxes and the amount paid by the new customer will be shared with the original customer (if they made payment online) and with the restaurant partner.

Orders containing items sensitive to distances or temperature such as ice creams, shakes, smoothies, and certain perishable items, will not be eligible for Food Rescue.

Restaurant partners will continue to receive compensation for the original cancelled order, plus a portion of the amount paid by the new customer if the order is claimed, the company said. “Most restaurants have opted in for this feature, and can opt of it easily whenever they want, directly from their control panels,” it added.

The delivery partners will be compensated fully for the entire trip, from the initial pickup to the final drop-off at the new customer’s location, it said.

Food Rescue will show up on the customers’ home page automatically if there’s a cancelled order available for them to grab. The Customers have to refresh the home page to check for any newly available orders which need to be rescued.

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Adani, Torrent compete to purchase Gujarat Titans from CVC Capital

The probable sale of the Gujarat Titans, with the lock-in period coming to a close, will therefore be a defining moment in the changing face of IPL investments.

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The Adani Group and Torrent Group are currently negotiating a deal with private equity firm CVC Capital Partners to offload a controlling stake in the Indian Premier League franchise Gujarat Titans. According to sources, close to the development, reports say CVC Capital Partners will be looking to sell a majority interest while retaining a minority share in the franchise.

This becomes important because it is aligned with the end of the lock-in period by the Board of Control for Cricket in India (BCCI), which restricts any new teams from selling stakes until February 2025. The three-year-old franchise Gujarat Titans is reportedly worth $1 billion to $1.5 billion. CVC Capital Partners had paid ₹5,625 crore for the franchise in 2021.

A source close to the development pointed out that IPL franchises have attracted many investors’ interest since the league has proved an asset with a good reputation for money-making capabilities and cash flows. This growing interest of investors embodies the financial value and stability that come with the IPL franchises.

Gautam Adani, who owns teams in the Women’s Premier League and UAE-based International League T20, is understood to be one of the serious buyers. In 2023, Adani’s group won the Ahmedabad franchise in the WPL with a bid of Rs1,289 crore, the highest offer. His interests in this potential deal signal his commitment to expanding his footprint in the cricketing world.

Arvinder Singh, COO of Gujarat Titans, exuded confidence in the financial future of the franchise. He said the team was confident of turning profitable in the next media rights cycle, referring to even the original ten IPL franchises that took four to five years to turn profitable. He added confidently that the Gujarat Titans would not only turn profitable but significantly enhance in brand value.
 
This surging interest of investors in it is evidence of the growing financial attractiveness of IPL franchises, driven by healthy revenue streams and an increasing global footprint. The probable sale of the Gujarat Titans, with the lock-in period coming to a close, will therefore be a defining moment in the changing face of IPL investments.

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PayTm share price slips 2 per cent over SEBI warning

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Paytm

The share price of PayTm fell by nearly 2 per cent on Tuesday following a warning from the the Securities and Exchange Board of India (SEBI).

PayTm’s parent One 97 Communication had got SEBI’s administrative warning letter on some transactions involving the PayTm Payments Bank during fiscal year 2021-2022. The bourses reacted strongly leading to PayTm shares falling by 1.88% to Rs 460.80 per share on the Bombay Stock Exchange.

SEBI said it had noted the violation with concern and said these matters are being viewed very seriously. The regulator warned the company to exercise caution going forward and improve compliance to rules to prevent similar incidents in the future.

The markets regulator added that failure to comply with rules may force it to invoke enforcement actions as per the law.

In its response to SEBI, PayTm said in a media release that it has always followed listing regulations, as well as any change to these rules over time. The company said it would keep up its commitment to maintain and follow high standards of compliance. Paytm said it intends to provide an adequate response to SEBI on this matter.

PayTm said it has always followed Regulation 23 along with Regulation 4(1)(h) of the SEBI Listing Regulations, without including any change made to these rules over time. Paytm added that the letter from  SEBI has no influence on its finances, operations or other activities in any way.

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