Davos : Top technology leaders, including Microsoft's Satya Nadella, Google's Eric Schmidt and Vodafone's Vittorio Colao, Thursday said they are hugely optimistic about the prospects of digital economy, while Facebook's Sheryl Sandberg cited an Indian story here at the WEF to support her optimism.
In a panel discussion on the potential for digital economy at WEF Annual Meeting, Facebook's COO said there were two brothers in a village in India where they could not go to hospitals, but they joined the technology bandwagon and their lives changed.
Davos - India is back in the reckoning at the global centre-stage and the huge build-up in positive sentiments among investors should soon start converting into real investment flows on the ground, Finance Minister Arun Jaitley has said.
With a packed agenda of meetings with investors and the government representatives from various countries here at WEF annual meeting, Jaitley said that many of these investors were looking at India either to invest or to expand their presence.
Davos : As companies are moving towards automation, Infosys CEO Vishal Sikka Wednesday said there would be temporary replacement of jobs and lower IT costs.
Sikka, who was speaking as a panelist in a session on 'Inclusive Growth in the Digital Age' at the World Economic Forum here, said that the companies should move towards automation as it would be better in terms of cost.
The session focussed on issues related to automation leading to job cuts, inequality in incomes and role of education in the digital age.
"Technology makes people more productive...Their abilities are amplified with technology," Sikka, the first non-founder CEO of the over USD 8 billion IT services exporter, said.
Davos - The World Economic Forum's five-day annual jamboree of the global elite will begin here Tuesday with presence of over 2,500 political and business leaders, including union ministers Arun Jaitley and Piyush Goyal as well as more than 100 industry leaders from India.
Other prominent Indian names would include Chief Economic Adviser Arvind Subramanian, as also Chief Ministers of Maharashtra and Andhra Pradesh -- Devendra Fadnavis and Chandrababu Naidu, respectively.
Geneva : The Financial Stability Board, a global banking watchdog, proposed Monday new rules that would push mega-banks to double their financial buffers in order to shield economies and taxpayers if they collapse.
The proposed rules are "a watershed in ending `too big to fail` for banks," said Mark Carney, FSB chairman and head of the Bank of England.
The new regulations are meant to help avoid a repetition of the 2008 crisis sparked by the Lehman Brothers collapse, which shook the global financial sector to its core.
New Delhi/Zurich: As India steps up pressure on Swiss authorities in its pursuit of alleged black money, banks in Switzerland say they follow strict rules and the requests from Indian authorities must be "properly justified".
The Association of Foreign Banks in Switzerland, an over four-decade old grouping, is also of the view that a clear and transparent policy can help in dispelling "apprehensions" and the "conjectures" should not be allowed to dominate the public opinion.
To bring back illicit money stashed away overseas, India has recently made a fresh request to Switzerland to seek bank details of such entities.
Geneva, May 15 : A pear-shaped flawless 13.22 carat blue diamond, the world's largest, was sold for $23.7 million at Christie's Magnificent Jewels sale with a world record sale price of $1.7 million per carat, the event's organisers said Thursday.
Christie's said in a statement that 85 percent of the offered lots were sold of which 27 went at above $1 million.
Fetching the second best price was a 1912 Cartier's brooch at $17.5 million, followed by a 75.97 carat pear-shaped diamond for $14.4 million.
Geneva, May 2 : President Paul Kagame of Rwanda, President Park Geun-hye of South Korea and Mexican billionnaire Carlos Slim Friday won the World Telecommunication and Information Society (WTIS) Award 2014.
They have been honoured by the International Telecommunications Union (ITU) in recognition of their leadership and dedication towards promoting ICT (information, communication and technology) development and broadband connectivity as a means of achieving sustainable development.
Switzerland is not in tune with the modern era as the European country still believes in bank secrecy, Union Finance minister P Chidambaram said.
In a letter to written to his Swiss counterpart Eveline Widmer Schlumpf, Mr. Chidambaram complained that Switzerland had been refusing to provide information about Indians' black money in its banks to the Indian government, despite a legal obligation of Swiss government under article 26 of the Double Taxation Avoidance Convention (DTAC).
Geneva, March 27 - Global natural catastrophes and man-made disasters had brought as much as $140 billion economic losses in 2013, according to the latest report released by Swiss Re Group Wednesday.
The Zurich-based insurance company noted that last year's total loss was down from the $196 billion in 2012 and well below the 10-year average of $190 billion, Xinhua reported.
The report said global insured losses reached around $45 billion last year due to large contributions from flooding and hail disasters, down from $81 billion in 2012.
Lausanne, March 20 : The international hockey federation (FIH) Thursday introduced major changes to the structure of the sport including reducing the 70-minute game to 60 minutes comprising four 15-minute quarters instead of two 35-minute halves. The changes will come into effect from Sep 1.
After the first and third quarters there will be a two-minute break while the existing 10-minute halftime will remain unchanged. The four-quarter model has been tried and implemented by both the Euro Hockey League and the Hockey India League.
Basel, March 14 - Top Indian shuttlers Saina Nehwal and P. V. Sindhu had contrasting victories to progress to the women's singles quarterfinals at the $125,000 Swiss Open Grand Prix Gold at St. Jakobshalle here Thursday.
French World No. 42 Sashina Vignes Waran was no match for the sixth seeded Indian as Saina came out on top 21-7, 21-13 in 34 minutes to proceed to the next stage. With the triumph, the Olympic bronze medallist took an undefeated 3-0 advantage in career clashes against Sashina.
Basel, March 12 : World No. 9 shuttler P. V. Sindhu won her women's singles opener at the $125,000 Swiss Open Grand Prix Gold at St. Jakobshalle here Wednesday.
In their first ever match, the seventh seed overcame Malaysian World No. 127 Sannatasah Saniru 21-18, 21-15 in 32 minutes to proceed to the second round.
However, World No. 3 and third seed Shixian Wang of China thrashed Saili Rane 21-8, 21-9 in 31 minutes also in their first match.
Basel, March 8 : Two-time winner Saina Nehwal of India has been seeded sixth at the $125,000 Swiss Open Grand Prix Gold which starts at St. Jakobshalle here Tuesday.
The Olympic bronze medallist will try to regain the crown which she won in 2011 and 2012 and reached the semi-finals last year. Saina's city-mate P. V. Sindhu is just a notch below her and has been seeded seventh.
Saili Rane is the other Indian in the main draw of the women's singles category.
Meanwhile, out of form Parupalli Kashyap has been seeded third in the men's singles draw, followed by fifth seed Kidambi Srikanth.
Another overview has uncovered, dropping acid can alleviate angst in anguish terminal disease.
Noting that legitimate utilization of LSD by U. S. therapists pummeled to an end in 1966 after the brain altering pill got prevalent as a recreational opiate, the new study reported positive outcomes around malignancy patients, who were in advanced stages, in Switzerland.
The discoveries distributed this week in The Journal of Nervous and Mental Disease detail the initially regulated investigation of LSD-supported psychotherapy in more than 40 years.
Zurich, Feb 5 : How interesting it would be if we could taste our food just by touching it. Honeybees can actually do that.
Research sheds light on honeybees’ ability to taste with claws on their forelegs.
Insects taste through sensilla - hair-like structures on the body that contain receptor nerve cells, each of which is sensitive to a particular substance.
Honeybees have sensilla on the mouthparts, antenna and the tarsi - the end part of the legs.
Geneva, Jan 24 : Former Manchester United manager Alex Ferguson will work as a coach ambassador for UEFA, president Michel Platini said Friday.
"Sir Alex will be chairman of the forum of elite coaches that meets every year. He will also be a member of the technical study group of the Champions League and the European Championship," Platini said at an executive committee meeting in Nyon, Switzerland, reports Xinhua.
Geneva, Sep 27 : The UN Human Rights Council (UNHRC) Friday strongly condemned the continued gross, systematic and widespread violations of human rights and all violations of international humanitarian law in Syria and urged the government to grant immediate access to the UN commission of inquiry.
The UNHRC demanded that the Syrian authorities cooperate fully with the commission of inquiry, including by granting it immediate, full and unfettered access throughout the country.
Martin Senn, the Chief Executive Officer of Switzerland's largest insurer, Zurich Insurance Group has assured investors and analysts that its accounts will remain intact and that the company is performing well.
The remarks came after Chairman Josef Ackermann stepped down following the chief financial officer's suicide. The company had announced on 26 August, 2013 that Pierre Wauthier was found dead at his home. The shares of the company had fallen about 2.2 billion Swiss francs in total market value.
Geneva, July 9 : Poor infrastructure facilities and lack of financing are getting in the way of expanded business and investment ties between India and Africa, said a report Tuesday.
A study, jointly by Confederation of Indian Industry (CII) and World Trade Organisation (WTO) supported by Britain's Department for International Development, found a number of constraints to bilateral trade. Access to Indian buyers and trade finance emerges as major concerns for African traders.
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