- Bit by Bit
- Posts
- Bit by Bit 18th Dec. || Will 2023 be a brutal year for global economies? || Expect UPI-like platforms for logistics, agri, education: Ashwini Vaishnaw & More
Bit by Bit 18th Dec. || Will 2023 be a brutal year for global economies? || Expect UPI-like platforms for logistics, agri, education: Ashwini Vaishnaw & More
Good Morning Readers!
Anyways, here are:
"5 amazing stories in 5 minutes to make you future ready"
Happy reading!
MARKET UPDATE
(Markets were closed on 17/12/2022, Saturday)
Economy
Key Points:
IT firm Accenture has lowered its revenue forecast for Q2.
This is being thought of as an indicator for IT sector heading towards severe recession.
We have been totally negative on all the technology companies since September
The Story
Earlier this year, a comprehensive study by world bank said, as central banks across the world simultaneously hike interest rates in response to inflation, the world may be edging toward a global recession in 2023 and a string of financial crises in emerging market and developing economies that would do them lasting harm. European Central Bank raised interest rate yesterday by 50 basis points.
Now people are getting laid off so anything which is subscription-based will see a collapse in the business. And there is overspending that has happened because of COVID. Everything went online, everything became software-oriented and digitisation became the common language.
Every geography that tried to invest in alternate technologies during COVID such as work from home, horizontal scalability, cloud computing and everything associated with it looks vulnerable. All such companies would feel the brunt, so it is not specific to one country, one company, or one sector because it will permeate through the whole economy.
FMCG
Expect UPI-like platforms for logistics, agri, education: Ashwini Vaishnaw
The Story:
The IT minister said that the Centre is working on the National Digital Health Mission to develop an UPI-like sectorwise platforms
He said that the Modi-led government has developed governance-related models that put Indian citizens at the core and build everything around them
The comments have come a day after NHA’s CEO R.S. Sharma reportedly shared that the body is developing an online health exchange platform to digitise the process of filing health insurance claims
The Centre is planning to build several Unified Payments Interface-like (UPI) platforms to extend tech-driven governance in India, said IT minister, Ashwini Vaishnaw. In conversation with media companies, the IT minister said that the Centre is working on the National Digital Health Mission to develop a UPI-like platform that will be deployed in sectors such as logistics, education and agriculture, among others. The minister further added that these platforms will be developed and democrat
Automotive
The Story:
Tata Motors on Friday announced that Bengaluru Metropolitan Transport Corporation (BMTC) has signed a definitive agreement with its fully owned subsidiary, TML Smart City Mobility Solutions Ltd. for operation of 921 electric buses in the city of Bengaluru.
As part of the agreement, TML Smart City Mobility Solutions Ltd. will supply, operate and maintain 921 units of 12-metre low-floor electric buses for a period 12 years.
Tata Starbus Electric has been picked for this endeavor. The company says that its bus offering is an indigenously developed vehicle with superior design and best-in-class features for sustainable and comfortable commute.
In a statement, Asim Kumar Mukhopadhyay, CEO and MD, TML Smart City Mobility Solutions Limited said, “We, at Tata Motors, continuously endeavor to develop smart, green and energy efficient mass mobility solutions. We are confident that the electric buses will provide sustainable, safe and comfortable public transportation to the commuters of Bengaluru.”
Till date, Tata Motors has supplied more than 730 electric buses across multiple cities in India, which have reportedly clocked more than 55 million kilometers cumulatively, with an uptime of over 95 per cent.
TECH
The Story:
In his most recent update, Elon Musk promised to restore the Twitter accounts of numerous journalists who had been suspended after he accused them of putting his family in risk. He said in a tweet: "People have already spoken. The suspension of the accounts that doxxed my whereabouts has been lifted." He had previously addressed the criticism he had been receiving following the suspension of the accounts. The multi-billionaire responded to the criticism directed at him on Twitter with a snarky remark. "So encouraging to witness the renewed appreciation of free speech by the press," he added. Concerns about him suspending journalist accounts were also voiced by the UN and the EU. Musk was forewarned by the EU that Twitter would face penalties under a new media legislation. "It is worrisome to hear of the arbitrary suspension of journalists from Twitter. Media freedom and fundamental rights must be respected, according to the EU's Digital Services Act. By virtue of our Media Freedom Act, this is strengthened "Vera Jourova, a commissioner for the EU, tweeted.
Recently, Twitter announced a change to its policy, stating that it would delete any tweets or accounts that shared someone's current location unless they were done so to support humanitarian operations or during public events. Following Musk's allegations that a family member in Los Angeles had been stalked earlier in the week, several of the journalists whose accounts were suspended had written about the plane tracking Twitter account as well as his justification for the new policy.
Anything Interesting
The stakes could hardly be higher as Lionel Messi approaches his second and likely last World Cup final. The same is true for Argentina, which has endured more than 30 years of heartbreak since its last championship in football. For Messi to finally hold the one significant trophy that has eluded him throughout his illustrious career, victory against France at Lusail Stadium on Sunday is crucial. Every time we watch him play, he gives the players and us a special feeling, according to Argentina coach Lionel Scaloni. "Not just Argentines like him; people like something about him.
At the age of 35, he knew that this was likely to be his final opportunity to play in the World Cup, and he rose to the occasion by sharing the lead in scoring with France forward Kylian Mbappé with five goals. His assists, such as the covert pass that Nahuel Molina used to score against the Netherlands in the quarterfinals, may have been more notable. Then came his captivating run, which he used to completely dismantle Croatian defender Joko Gvardiol before setting up Julián Lvarez for Argentina's third goal in the semis.
Argentina hopes to end its lengthy wait for a third World Cup, while Messi is aiming to complete his personal trophy collection. He has already won four Champions League championships and seven Ballon d'Or awards as the best player in the world. Long before now, Messi was supposed to perform that feat. How long will Argentina have to wait if he retires without ever winning the World Cup?
