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Private offices in Kuala Lumpur that drive success and productivity

Private rental office spaces are more and more popular among start-ups, freelancers and established companies. They offer you more flexibility in managing and growing your business while bringing you closer to a buzzing community of bright minds. The best private offices in Kuala Lumpur provide you with fully equipped spaces and all amenities to help your business grow. Find below the best things you can get by joining an industry-leading coworking space in Kuala Lumpur.

1. Around-the-clock access

Whether you are more productive during day hours or night hours, you can create your schedule according to your needs. The private office is open 24/7 to offer you maximum comfort in managing your professional tasks.

2. Flexible lease contract

A flexible office lease contract deprives you of the obligation to stick to a traditional contract that makes you rent the office for one or more years. Here you can make the rental period as long as your business projects require. So if you have to be in the private office for just 2 weeks, the flexible contract terms allow you to do it.

3. Fully equipped rooms

Whether you opt for an individual suit or a shared office for your whole team, all spaces are equipped to meet your each and every business need. There is a full set of office supplies and furniture to offer you much storage and comfort while working. You get the latest generation technology on hand that makes you more efficient and productive. The furniture is ergonomic and cozy with height-adjustable tables and softly padded chairs to meet your comfort needs.

4. Different layouts

Depending on your business needs, you can choose what your private office space for rent will look like. It can be a small suit that separates you from other coworkers, allowing you to focus on your tasks. If you have a team, rent a larger room that encourages teamwork and is fully equipped with all amenities. Besides, you get access to meeting rooms where you can negotiate with your business partners and clients as well as organize conferences and trainings.

5. Breakout room

Breakout rooms are the amenity that sets a high-end private office space apart from a low-end office. It is the place where you can drink coffee and take a break from your projects. Breakout rooms in the best coworking spaces in Kuala Lumpur are generously equipped with comfy sitting furniture and a pantry to allow you enjoy your coffee break to the fullest. While enjoying your invigorating drink, you can have productive discussions with other community members. It’s a great opportunity to make new business connections and exchange ideas with bright minds from other fields.

PM Modi meets visiting 7 NSAs, discusses Afghan situation

Prime Minister Narendra Modi on Wednesday met National Security Advisors of the seven countries who participated in the Delhi Regional Security Dialogue on Afghanistan, hosted by India earlier in the day

Soon after the completion of the Dialogue, the security representatives of five Central Asian countries – Tajikistan, Turkmenistan, Kazakhstan, Kyrgyzstan, and Uzbekistan, along with Russia and Iran, called on the PM.

During the meet, Modi emphasised four aspects that countries in the region would need to focus on, in the context of Afghanistan – the need for an inclusive government, a zero-tolerance stance about Afghan soil being used by terrorist groups, a strategy to counter trafficking of drugs and arms from Afghanistan, and the need to address the increasingly critical humanitarian crisis in war-torn country.

The Prime Minister also expressed the hope that the Regional Security Dialogue would work to revive Central Asia’s traditions of moderation and progressive culture, and counter extremist tendencies.

The security representatives of these seven nations appreciated India’s initiative in organising the Dialogue and of the quality of the exchanges. They also conveyed the perspectives of their respective countries on the Afghan situation.

Modi also appreciated the participation of the senior dignitaries in the Delhi Security Dialogue despite the challenges posed by the Covid pandemic.

Afghanistan’s territory must not be used for any terror activities, the eight nations participating in the Delhi’s Regional Security Dialogue asserted on Wednesday in a joint declaration.

T20 World Cup: Australia, New Zealand chase maiden silverware in Dubai

After 44 matches across four venues in the UAE and Oman, the ICC Men’s T20 World Cup has reached its last destination: the finale. Vying for the silverware at the Dubai International Stadium on Sunday will be neighbours Australia and New Zealand, two nations separated by the Tasman Sea and the balance of their playing eleven.

Whoever wins on Sunday will clinch their maiden silverware in the format. Australia was in the fair distance to win the 2010 edition, only for England to place them second-best. Now, Australia has got the chance to go one step further against first-time finalists New Zealand in a rematch of the 2015 Cricket World Cup final.

Both Australia and New Zealand reached the semi-finals after finishing second in their respective groups in Super 12. But they weren’t the first-choice favourites of cricket fans and experts to reach the final. The semi-finals held on Wednesday and Thursday threw up highly unexpected results, coinciding with ‘he ‘expect the unexpected’ nature of the shortest format of the game.

New Zealand’s Daryl Mitchell and James Neesham turned the game around in the last few overs against England in the first semi-final at Abu Dhabi while Matthew Wade and Marcus Stoinis had engineered similar slog-overs heist for Australia against Pakistan in the second semi-final at Dubai.

For Australia, with the greatest number of trophies in the Men’s Cricket World Cup, having a T20 World Cup trophy will complete their cabinet of silverware. Their batting has been largely led by David Warner, who has accumulated 236 runs at an average of 47.2. Captain Aaron Finch, Steve Smith, and Glenn Maxwell are due for a big score. With the ball, leg-spinner Adam Zampa has been the standout, taking 12 wickets at an economy rate of just 5.7. They will have their task cut out against an in-form New Zealand.

The Black Caps, current winners of the World Test Championship, will be eyeing to clinch a white-ball trophy. Since the early blip against Pakistan, they have been formidable as a unit with different players stepping up to do the job in different matches. Mitchell, who became an unlikely hero in the semi-final, has been the top-run scorer for New Zealand, scoring 197 runs at an average of 39.40. Left-arm pacer Trent Boult has been spearheading the bowling attack, clinching 11 wickets at an economy rate of only 6.5 while Tim Southee and Ish Sodhi have impressed as well.

The only point of a dilemma for them will be to include either Tim Seifert or Mark Chapman in place of an injured Devon Conway. Conway, who scored 46 in the semi-final, has been ruled out of the final as well as the subsequent India tour after injuring his hand while punching his bat in anger after dismissal. Though Seifert looks like the most obvious choice for Conway’s replacement, Chapman being a left-handed batter could become a better fit with Glenn Phillips asked to take up wicket-keeping duties.

With toss and dew proving to be decisive factors in deciding the outcome in Dubai, expect a batting-heavy Australia and bowling-heavy New Zealand to battle the uncontrollable while trying to control the controllable in their quest for the coveted trophy.

Squads

Australia: Aaron Finch (captain), Ashton Agar, Pat Cummins (vice-captain), Josh Hazlewood, Josh Inglis, Mitchell Marsh, Glenn Maxwell, Kane Richardson, Steve Smith, Mitchell Starc, Marcus Stoinis, Mitchell Swepson, Matthew Wade (wicketkeeper), David Warner, Adam Zampa

New Zealand: Kane Williamson (captain), Trent Boult, Mark Chapman, Adam Milne, Martin Guptill, Kyle Jamieson, Daryl Mitchell, Jimmy Neesham, Glenn Phillips, Mitchell Santner, Tim Seifert (wicketkeeper), Ish Sodhi, Tim Southee, Todd Astle, Devon Conway.

Jayawardene, Pollock, Brittin enter ICC’s Hall of Fame

South Africa’s Shaun Pollock, Sri Lanka’s Mahela Jayawardene and England’s Janette Brittin on Saturday became the three latest inductees to the International Cricket Council’s (ICC) Hall of Fame.

Jayawardena played 652 international matches, comprising 149 Tests, 448 ODIs and 55 T20Is. Only Sachin Tendulkar played more international matches, pipping the Sri Lankan by 12 games.

A right-hander who scored runs relentlessly and captained his country’s team, Jayawardene’s 149 Tests are the most by a Sri Lankan, as are his 448 ODIs (12,650 runs at 33.37, 19 centuries) where globally only Tendulkar (463) played more matches.

He is Test cricket’s ninth-highest run-scorer with 11,814 to his name at an average of 49.84, making the sixth most Test centuries in the format’s history. Among his 34 centuries is the famous 374 — Test cricket’s fourth-highest score — he made in the midst of a record-setting 624-run stand with Kumar Sangakkara against South Africa in 2006.

A two-time Cricket World Cup runner-up, Jayawardene made 103 in the final in 2011.

Denied ODI cricket’s most cherished trophy twice, he was also part of the Sri Lankan sides that finished second in the 2009 and 2012 T20 World Cups. In 2014, he finally got his hands on the silverware, as he won the T20 World Cup final in his last appearance in the format.

Jayawardene retired from international cricket the following year at the end of Sri Lanka’s Cricket World Cup 2015 campaign.

An all-rounder in the truest sense of the word, Shaun Pollock scored 7386 runs and took 829 wickets in international cricket.

The son of former South African player Peter Pollock and nephew of ICC Hall of Famer Graeme Pollock, Shaun Pollock went on to play 108 Tests, 303 ODIs and 12 T20Is across 13 years after making his Test debut in 1995 against England.

It was with the ball that Pollock was truly special, but as a batter he stood out as well, managing three centuries in total. Two of those hundreds came in Test cricket, in which he made 3,781 runs at an average of 32.31 with a further 16 half-centuries to boot.

His lone ODI ton came for an Africa XI against an Asia XI in 2007. It was a 110-ball 130-run blitz fitting for a man with a career strike rate of 86.69. In total he made 3519 runs at 26.45 in ODIs, with 14 fifties to his name alongside the lone ton.

With the ability to swing and seam the ball, Pollock took 421 Test wickets at 23.11, 393 ODI wickets at 25.4 and 15 T20I wickets at 20.6. He took 16 five-wicket hauls in Test cricket and only Dale Steyn (439) took more Test wickets for South Africa.

His tally of 829 international wickets is the seventh most of all time. Few have ever been as complete a player. Testament to that fact is that among players to have taken more than 400 Test wickets, only Kapil Dev (434 wickets, 5248 runs) scored more runs than Pollock’s 3781.

Janette Brittin, who played 27 Tests and 63 ODIs for England between 1979 and 1998, is among the greatest batters to have played women’s cricket. She is the greatest run-scorer (1935 at 49.61), century-maker (five) and appearance maker (27) in women’s Test history.

She was similarly dominant in ODIs, making 2121 runs at an average of 42.42 with five centuries across 63 ODIs and was part of England’s World Cup-winning side in 1993. She made 48 opening the batting against New Zealand in the final of that tournament and was the top run-scorer in the competition with 410 at an average of 51.25.

Brittin passed away from cancer at the age of 58 in 2017. She is the 31st England player to join the Hall of Fame.

1st two units of India’s biggest hydel project to be commissioned next yr

The first two units — 500 MW generation capacity — of the state owned NHPC’s Subansiri lower hydro-electric project, being set up along the border of Arunachal Pradesh and Assam, would be commissioned by August next year and the project shall be dedicated to the nation as per schedule, officials said on Wednesday.

The Chairman-cum-Managing Director of the National Hydroelectric Power Corporation (NHPC) A.K. Singh apprised the visiting Parliamentary Standing Committee on Energy (2021-22) about the progress in construction of the project.

The 2,000 MW capacity Subansiri Lower HE Project, located near North Lakhimpur on the border of Arunachal Pradesh and Assam, is the biggest hydroelectric project undertaken in India so far and is a run of river scheme on river Subansiri.

Executive Director, Subansiri Lower HE Project Vipin Gupta apprised about the uninterrupted construction activities undertaken in spite of difficulties faced by the project due to Covid-19 pandemic and its associated bottlenecks, natural calamity like flash floods.

The Parliamentary Standing Committee headed by its Chairman Rajiv Ranjan Singh took a review meeting with senior management of the NHPC, which presented the details on the status of the works made by the corporation.

Singh appreciated the hard work of the project team and the progress achieved so far. The standing committee members also visited an exhibition organised by FarmerProducers Companies registered for Livelihood interventions initiated by NHPC in the field of Piggery, Sericulture and Handloom in the Downstream areas of the Project.

They appreciated the efforts and initiative of NHPC towards sustainable livelihood for the people living in the downstream areas.

The original work of the Subansiri Lower project was started in 2006 and resumed more than a year ago during the Covid-19 lockdown after being stopped in 2011 following protests by various local organisations amid fears of ecological damage and loss of livelihoods.

Pressure of Grand Slam did take a toll on me, concedes Djokovic

World No.1 tennis player Novak Djokovic has conceded that the pressure of winning a calendar grand slam and making history had taken a toll on him this year as he aim to end the year on a high by winning the elite eight-player Nitto ATP Finals commencing here on Sunday (November 14).

Following his shock US Open final loss to Daniil Medvedev, which shattered his dream of a calendar grand slam, the Serbian took a break and came back refreshed to clinch the Paris Masters title, avenging his Flushing Meadows defeat to the Russian world No. 2.

Djokovic is now looking for a big finish to the 2021 season here, which saw him clinch the year-end No. 1 in the ATP Rankings for a record-breaking seventh time.

Coming into the Nitto ATP Finals on the back of his 86th tour-level title of his career, the Serbian feels “fresher” than in previous years, which may spell trouble for his rivals at the Pala Alpitour.

“I do feel fresher, because I haven’t played as much as in previous years, in terms of tournaments,” said Djokovic on the eve of the Nitto ATP Finals. “I did have a lot of exhausting events, particularly in the Grand Slams, not just physically, but also mentally and emotionally.

“(This year has been) unlike any other than I have had so far, because of the pressure of the achievement and the historical achievement (calendar grand slam). It did take a lot out of me. I felt like I needed a break in order to rejuvenate and get ready for the end of the season,” Djokovic told nittoatpfinals.com.

“I started well with the Paris (Masters) win and I hope to do well in Turin… You have to play at a high intensity and play at your best. Sometimes you don’t have a lot of fuel in the tank, but you have to play five top matches to win this title (and) it requires a lot of energy.”

Djokovic has compiled a 48-6 match record this season, including five tour-level titles. He went 27-1 in major championships, with titles at the Australian Open, French Open and Wimbledon. Medvedev stopped the 34-year-old in the US Open final from becoming the first player to complete the Grand Slam since Rod Laver in 1969.

The world No. 1 features in the Green Group alongside Stefanos Tsitsipas, Andrey Rublev and Casper Ruud at the Nitto ATP Finals. After 11 successful years at The O2 in London, Djokovic is very happy with his preparations for the prestigious event in Turin.

“London was very successful for the Nitto ATP Finals,” said Djokovic. “It is one of the most spectacular arenas in the world (and) it couldn’t be a better setting really in front of a packed house each afternoon or evening. It was fitting for the most important event that the ATP owns. But I have always been a proponent of moving this tournament regularly, maybe every three or four years.

“Tennis has been booming on the men’s side in Italy, with Matteo (Berrettini), (Fabio) Fognini and (Jannik) Sinner in the past couple of years. There is a good vibe in the city and everyone looks forward to supporting the tournament; and Matteo in particular. Everyone here wants to finish off the year in the best possible way,” added Djokovic.

Djokovic will begin his campaign for a sixth Nitto ATP Finals crown against Norway’s Casper Ruud on Monday.

Environment Ministry fine-tuning procedure for ‘ease of doing business’

Multiple issues pertaining to management of forests and ‘ease of doing business’ such as streamlining the approvals of forest diversion cases, increasing trees outside forests and increasing the incomes of tree-growers were on agenda for discussion of top forest officials from across India at a conference called by the Environment Ministry.

‘Views of States on National Timber Permit System Forest’ and ‘Identification of Land Bank for CA plantations and raising compensatory afforestation (CA) on degraded forest land or non-forest land FC Division,’ were also on the table for discussion at the two-day conference called by the Ministry, the first round of which was held on Thursday.

Union Minister of State for Environment, Forests, and Climate Change Ashwini Kumar Choubey chaired the day one of the conference of Principal Chief Conservator of Forests (PCCF)/Head of Forest Force (HoFF) of some of the states. The second would be held on November 15, where the rest of the states, a larger chunk, would attend.

“We discussed procedural issues as well as took stock of several things. For instance, what is the status of notification of compensatory afforestation (CA) land into reserved forest/protected forest (RF/PF), what is the status of plantations raised under net present value (NPV) component since 2002, and also what are the levels achieved vis-a-vis digitisation of forest boundaries,” said a forest official.

An important issue discussed was the strategy of participating states for achieving the nationally determined targets (NDC) targets of creating an additional carbon sink of 2.5 to 3.0 billion tonnes of CO2 equivalent by 2030, which India has promised as part of its action plan to combat climate change.

‘Status of projects on rejuvenation of rivers’ and ‘Implementation of guidelines pertaining to wood-based industries’ would also be discussed.

A Ministry release said: “The Ministry will take advantage of good practices and innovative initiatives being taken by the state governments in the areas of afforestation, forest production, wildlife management and biodiversity conservation.”

India women to play Australia in Commonwealth Games cricket opener

T20 World champions Australia will take on runners-up India in the opening match of the Birmingham 2022 Commonwealth Games competition on July 29 as women’s cricket will make its debut in the quadrennial games.

While the group stage matches in the eight-team competition will take place until August 4, the semifinals will be played on August 6. The final and the playoff for the bronze medal will take place on August 7.

Cricket is going to be played for only the second time ever while women’s cricket is featuring at the CWG for the first time in 22 editions. The only time cricket was a part of the quadrennial event was in Kuala Lumpur (1998), when a men’s ODI competition was held, and which South Africa won.

The India-Australia match will be followed by Pakistan facing Barbados, the national team confirmed to take part from the West Indies.

Hosts England will play their first match on July 30, against a qualifier, who will be decided by a qualifying tournament in early 2022.

All matches will be at Edgbaston.

Apart from the qualifier, the teams taking part are Australia, India, Pakistan, Barbados (all in Group A), New Zealand, South Africa and England (Group B, along with qualifier).

The schedule is as follows:

Group A

July 29 — Australia v India and Pakistan v Barbados

July 31 — India v Pakistan and Barbados v Australia

August 3 — Australia v Pakistan and India v Barbados

Group B

July 30 — New Zealand v South Africa and England v CWGQ

August 2 — England v South Africa and CWGQ v New Zealand

August 4 — South Africa v CWGQ and England v New Zealand

August 6 – Both semifinals

August 7 — Bronze medal match followed by Final.

US Congressional delegation meets Modi, discusses bilateral issues

Prime Minister Narendra Modi on Saturday met a US Congressional delegation and exchanged views on the potential for enhancing bilateral ties and strengthening cooperation on contemporary global issues such as the terrorism, climate change and reliable supply chains for critical technologies.

According to a statement issued by the Prime Minister’s office, the delegation led by Senator John Cornyn comprised Senator Michael Crapo, Senator Thomas Tuberville, Senator Michael Lee, Congressman Tony Gonzales and Congressman John Kevin Elizey Sr.

The delegation noted the excellent management of the Covid situation in India in-spite of the challenges of large and diverse population whereas Modi noted that people’s participation based on democratic ethos of the country played a key role in managing the worst pandemic of the last one century.

The Prime Minister also appreciated the consistent support and constructive role of the US Congress in deepening the India-US comprehensive global strategic partnership which is anchored in shared democratic values.

Modi and the visiting delegation noted the increasing convergence of strategic interests between the two strategic partners and expressed desire to further enhance cooperation with an aim to promote global peace and stability.

There was a warm and frank discussion on regional issues of mutual interest, including those related to South Asia and the Indo-Pacific region, the PMO said.

Senator Cornyn is the co-founder and co-Chair of the Senate caucus on India and Indian-Americans.

Poland smash Andorra in World Cup qualifier; Italy held by Switzerland

 Poland beat hosts Andorra 4-1 to secure the second place in the Group I of the FIFA World Cup European qualification here.

The game was special for Aston Villa defender Matty Cash, who made his debut for Poland coached by Paulo Sousa. The 24-year-old, whose mother was born in Poland, obtained Polish citizenship this month. On Friday night, he came onto the pitch in the 62nd minute to replace Przemyslaw Frankowski.

The hosts had to play with 10 men from the first minute as Ricard Fernandez was sent off for hitting Kamil Glik by the elbow. Poland didn’t have problems proving their advantage. Robert Lewandowski scored twice, while Kamil Jozwiak and Arkadiusz Milik also beat the goalkeeper. Andorra found a consolation goal just before the break thanks to Marc Vales who surprised Wojciech Szczesny.

Poland have secured their spot in the play-offs of the qualifications. They have earned 20 points so far, five more than third-placed Albania with one game to play.

On November 15, Poland will host Hungary, while Andorra will try to beat Albania.

In Rome, Italy should have sealed a win but only settled for a 1-1 tie against Switzerland in a FIFA World Cup European qualifier, as Jorginho missed a late penalty, Xinhua reports. It was a head-to-head for the top place of Group C as the two sides were tied in the standings with 14 points ahead of the final match-day as the Azzurri ranked first by virtue of a superior goal difference. The top finisher will advance to Qatar 2022 directly, while the second enter play-offs.

Both sides entered the Stadio Olimpico in Rome on Friday evening with a long list of absentees as Italy lost Giorgio Chiellini, Ciro Immobile and Marco Verratti to injury, while Switzerland were without Granit Xhaka and Haris Seferovic.

The away side had a more aggressive start and went ahead in the 11th minute as Noah Okafor sprinted down the left and squared for Silvan Widmer to hit in a first-time screamer out of the box. Italy managed to weather the early siege, and once the tempo and intensity of the opponents dropped, the game was transformed.

The winners of the 2020 Euro Championship earned a genuine opportunity in the 22nd minute as Emerson broke into the box and pulled back for Jorginho, whose attempt was blocked and Nicolo Barella’s follow-up from a close range was denied by Yann Sommer.

Italy got back on level terms through a well-designed free kick as Lorenzo Insigne’s dummy allowed his cross to find Giovanni Di Lorenzo who scored a header.

The situation is unchanged as the two teams in the group are still separated by just two goals. Their fortunes will be decided in the final group games three days later when Italy visit Northern Ireland, and Switzerland host Bulgaria.

OnePlus launches Android 12 beta programme for its 8 series phones

(IANS) Smartphone brand OnePlus has started recruiting testers for the OnePlus 8, 8 Pro, and 8T’s Android 12-based OxygenOS 12 closed beta update.

It is a short-term closed beta test (CBT), where participants will be required to sign a non-disclosure agreement. 200 people with an 8T will be invited, and 200 people with the 8 or 8 Pro will also be invited.

“The Closed Beta Group is the closest group to OnePlus staff. This group is made up of an elite crew of OnePlus community members. This group requires absolute secrecy. If someone exposes the unstable CBT package, and others download it out of curiosity, it may cause serious malfunctions of their OnePlus phones,” the firm said in a statement.

Participants are also required to sign an NDA (Non-Disclosure Agreement) with OnePlus to be a member of this programme.

In addition, OnePlus has promised to provide gifts to the best performers, and since the company is calling it a “short-term Closed Beta Project,” one can expect it to announce an Open Beta program for the 8, 8 Pro, and 8T soon.

OnePlus recently announced announced the Pac-Man Edition of the Nord 2.

According to the company, the smartphone will be sold in a single variant with 12GB RAM and 256GB storage for Rs 37,999.

Currently, there is no word yet as to when it will go on sale.

The OnePlus Nord 2 x PAC-MAN Edition comes with games, challenges, and lots of exclusive PAC-MAN content throughout.

India leading global recovery from pandemic: Union Minister

With an ever enlarging market space, ‘high’ demographic dividend and a ‘highly’ skilled and trained workforce, India has been much better-placed than most other prominent economies to lead the global recovery from a pandemic affected world, said Union Minister of State for Skill Development, Entrepreneurship, Electronics and IT Rajeev Chandrasekhar.

On the first visit to his home state after becoming Union minister, Chandrasekhar on Friday addressed an interactive session with eminent people representing leading business houses, research and academic institutions at the Central Marine Fisheries Research Institute (CMFRI) here.

“Unlike many other nations, India’s economic response towards the pandemic was aimed at achieving self-reliance in developing vaccines and to effectively insulate the most vulnerable section of the society from pandemic induced economic distress. Towards this, the government focused on distributing targeted cash and food, developing health infrastructure and vaccinating the population. This approach was in variance with the views of the several world renowned economists who favoured random distribution of cash, but our experience so far showed that the policy worked well at the grass root level”, he said.

“Several structural reforms aimed at improving the efficiency of production were taken up by the government to improve India’s medium and long-run growth prospects, at the same time not compromising with the immediate requirements to combat the pandemic. This approach has gained wider economic significance at a time when India registers a solid growth recovery”, added Chandrasekhar.

India acted differently while keeping direct fiscal spending at a lower level of GDP, he asserted.

He added that the ambitious ‘Aatmanirbhar Bharat’ project focuses not only on vaccines and economy but it also stresses on national security and strengthening democracy.

Touching upon the government’s efforts to strengthen infrastructure development, Chandrasekhar lauded the ‘PM Gati Shakti’ scheme that would pave the way for an interconnected system to facilitate digital enabled ‘super governance’.

Online payments during China’s Singles’ Day hit $3.48tn

(IANS) Chinese online payment clearinghouse NetsUnion and card payment giant China UnionPay reported online payments worth 22.32 trillion yuan (about $3.48 trillion) during this year’s Singles’ Day shopping spree from November 1 to 11.

During the 11-day period, over 27 billion transactions were processed by the platforms, surging 17.96 per cent year-on-year, with the total value involved up 14.98 per cent year on year, said the People’s Bank of China, reports Xinhua news agency.

Payment services were safe, efficient and convenient, and the scale of related business, as well as residents’ consumption, increased steadily during the shopping festival, according to the central bank.

The Singles’ Day shopping festival was first initiated by Alibaba on November 11, 2009, and has since become one of the world’s largest online shopping sprees.

Like Black Friday, two weeks later, Singles’ Day is especially popular in Spain, which has briefly overtaken the US as the second-largest market for AliExpress’ online sales — behind Russia.

Indian govt aims to block ‘irresponsible’ crypto ads

(IANS) Taking a hard stand on cryptocurrency ads promising wild returns, the Indian government is aiming to prohibit such ads that are growing across media platforms and were seen in plenty during the IPL 2020 and the ICC Men’s T20 World Cup cricket matches.

In a memo outlining the summering of a meeting of Prime Minister Narendra Modi and the crypto industry players late on Saturday, the government has clearly shown its displeasure over such mushrooming advertisements that promise wild profits.

The crypto stakeholders and the government have reached a consensus that such advertisements are misleading youths and must be curbed.

“The government is cognizant of the fact that [blockchain] is an evolving technology hence the government will keep a close watch and take proactive steps,” according to the memo.

Crypto players like CoinSwitch Kuber, CoinDCX and WazirX recently launched ads across platforms, asking first-time investors to educate themselves first as well as promising big returns on their crypto investments.

A recent advertisement by the Blockchain and Crypto Assets Council (BACC), a part of Internet and Mobile Association of India (IAMAI), and industry players like CoinSwitch Kuber, CoinDCX, WazirX and Zebpay, claimed that crores of Indians have invested over Rs 6 lakh crore in crypto assets.

Indian crypto players are bombarding people with advertisements across platforms — doubling down on their marketing spend when the cryptocurrencies are yet to be accepted as legal tender and lack legal framework and regulatory norms in the country.

The ball is currently in the court of the Finance Ministry and the Reserve Bank of India (RBI).

A cryptocurrency bill is expected in the winter session and till the whole picture is cleared, investing in cryptocurrencies can be a dangerous move, according to legal experts.

“Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks,” is a thin line at the end of the advertisements, not visible to many people who have started investing via various crypto exchanges.

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