An economy (from Greek οίκος – “household” and νέμoμαι – “manage”) is an area of the production, distribution and trade, as well as consumption of goods and services by different agents. Understood in its broadest sense, ‘The economy is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of resources’. A given economy is the result of a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure and legal systems, as well as its geography, natural resource endowment, and ecology, as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions. In other words, the economic domain is a social domain of human practices and transactions. It does not stand alone.
NEW DELHI: Facebook removed a Hyderabad-based doctor’s post which offered potentially misleading medical advice including a blanket drugs prescription to Covid-19 patients on its social networking platform, heeding a first of its kind request from the Karnataka government amid the pandemic. The American social media company told ET it had removed the post of cardiologist … Read more
Even if the value of some provisioning ecosystem service, like logwood and fish, are embedded in measures of GDP, more important services like ecological resilience and benefits from diversity of life forms are often ignored. SynopsisThe current pandemic has made evident the extent of global interconnectness between our economies, health, environments and, more broadly, our … Read more
NEW DELHI: India has proposed imposing customs duties on computer-aided design, or CAD, files, which are necessary for 3D printing, while pitching its case for countries to be able to tax electronic transmissions. Electronic transmissions are at present immune from taxation in the World Trade Organization (WTO) under a moratorium. If the moratorium continues, India … Read more
Wall Street and Silicon Valley came together, bridging the gap between New York and San Francisco, because the bankers smelt a gold rush in technology upstarts and their impending initial public offerings (IPOs). SynopsisA year down the line, a lot of what was going on in Mumbai has come to the fore, when in April, … Read more
MUMBAI: A former employee of IT services provider Cognizant has sued current and former board members as well as key executives for allegedly misleading shareholders about a bribery scandal in India. The lawsuit by Ravindra Guyyala in the US District Court of Delaware follows a separate ongoing securities class action lawsuit filed by Cognizant shareholders, … Read more
New Delhi: Coffee Day Enterprises Ltd on Friday reported a consolidated net profit of Rs 1,672.41 crore for the April-June quarter, helped by stake sale in Mindtree. The company had posted a net profit of Rs 21.06 crore in the April-June quarter a year ago, Coffee Day Enterprises Ltd (CDEL) said in a BSE filing. … Read more
The Reserve Bank of India has directed HDFC Bank to pay Rs 210 crore to Mashreq Bank, which had extended a loan to real estate financier Altico Capital that is seeking central bank approval for debt resolution, people with direct knowledge of the matter told ET. Last October, the indebted non-banking finance company and Dubai-based … Read more
New Delhi: The World Trade Organization (WTO) is likely to agree to a second request from Japan and Taiwan later this month to establish an adjudication panel over India’s customs duties on imports of certain information and communications technology (ICT) products, including mobile phones, taking the dispute up a notch. The Geneva-based organisation had setup … Read more
WhatsApp said it had seen how educational institutions, law enforcement, government schools, healthcare professionals, farmers, migrants and people across the country were relying on the platform in these uncertain times. SynopsisThe group currently has more than 47,000 members and is adding 100-200 more every day, Nagaraj said. It gets about 100-150 messages a day on … Read more
Video conferencing app Zoom‘s COO Aparna Bawa and President of Products and Engineering, Velchamy Sankarlingam spoke exclusively from the US. This was their first interview to Indian media. Edited excerpts How have the last few months been? Were you prepared for the velocity of growth that suddenly exploded after Covid-19? Aparna Bawa: It has been … Read more