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— Worldwide English Trends Revealed in Survey of Over Two Million Adults
ZURICH, November 15, 2022 — EF Education First (EF) today released the 2022 edition of its EF English Proficiency Index (EF EPI), analyzing data from 2.1 million non-native English speakers in 111 countries and regions. The Netherlands retained first place, while Singapore surged to second, cracking the top three again since becoming the first ASEAN nation to do so in 2018.
“This year’s index reflects the pandemic’s impact - from a concerning decline in English proficiency among young people to unexpectedly high proficiency outside big cities, which has remote work implications,” said EF EPI author Kate Bell. “The report tracks stories of remarkable progress and discouraging setbacks.”
The EF EPI is based on scores from the EF Standard English Test (EF SET), used by governments, companies, and schools for large-scale testing and millions of individual test takers.
Key findings include:
English proficiency improved for adults over 25, with over 40s improving the most. Proficiency among adults 21 - 25 was unchanged but declined for the 18-20 cohort by a striking 50 points since 2020.
Lower-proficiency groups are catching up in Europe, with large countries bordering the European Union fueling the region’s continuing rise. However, Europe is the only area where young adults have not lost ground.
Central and South America continue to improve remarkably; but have the broadest age-related score difference in the world, with scores for the 18-20 cohort declining significantly since 2020.
Asia’s regional average declined slightly due to drops in the Philippines and China, although most countries surveyed improved somewhat, and three climbed into a higher proficiency band.
This year, the gender gap has widened, with men’s English proficiency continuing to outpace women. It appears to be driven by biased education systems or unequal access.
Large cities don’t always have the best English. Of the 500+ cities measured, 130 did not outscore their region, and another 130 barely did. It has implications for recruitment, given the shift toward remote work.
English proficiency in Africa and the Middle East was stable. Outcomes remain stubbornly low across ages in the Middle East, although a narrowing gender-related proficiency gap is a positive development. Africa has some of the broadest proficiency gaps in the world, both in age and gender.
• English Proficiency Ranking of Countries
EF Education First provides culturally immersive education through language, travel, cultural exchange, and academic programs in over 100 countries. Founded in Sweden in 1965, EF’s mission is to open the world through education.
Source: EF Education First (EF)
|GlobalGiants.Com|
Edited & Posted by the Editor | 11:39 AM | View the original post
The Government will launch Retail Central Bank Digital Currency (CBDC) in late November.
e-Rupee launch a landmark moment
Photo: The Governor of the Reserve Bank of India, Shaktikanta Das, participates in the International Monetary and Financial Committee Introductory Session during the 2022 Annual Meetings at the International Monetary Fund. October 13, 2022. Washington, DC, United States. IMF Photo/Cory Hancock.
MUMBAI: Reserve Bank of India Governor, Mr. Shaktikanta Das, has noted that the country’s macroeconomic indicators and buffers today make “India a picture of optimism and resilience.” He was speaking at FIBAC 2022 - an Annual Banking Conclave organized jointly by FICCI (Federation of Indian Chambers of Commerce & Industry) and IBA (Indian Banks’ Association).
The RBI Governor acknowledged that RBI missed the inflation targets to avoid ‘paying a high cost’ by tightening earlier. But, he said, “we did not want to upset the recovery process. We wanted the economy to reach the shores and bring down inflation safely.” He noted that RBI continues to be watchful of the liquidity situation, noting, “RBI remains agile and watchful and ready to undertake liquidity operations.”
Mr. Das added that the launch of the Central Bank Digital Currency (CBDC) is a landmark moment in the history of money and currency in the country. “It is going to be a major transformation of the way business is done, the way transactions are conducted,” he said. Mr. Das noted that Reserve Bank is among the few central banks worldwide that have taken this initiative. He said that RBI would launch the retail part of the CBDC trial later this month.
Addressing the volatility in the exchange rate, RBI Governor said that almost all major currencies - barring the Swiss Franc, the Singapore Dollar, the Russian Rouble, and the Indonesian Rupiah - have depreciated against the US dollar more than the Indian Rupee. He said, “from April 1 to October 31, 2022, the Indian Rupee has depreciated by 8.0 percent, while the US dollar has appreciated by 13.0 percent.” In addition, Mr. Das underlined that the Indian Rupee has appreciated against many major currencies. Furthermore, he added, “the size of the Indian Rupee’s appreciation was the highest vis-a-vis the Japanese Yen (12.4 percent), the Chinese Yuan (5.9 percent), the Pound Sterling (4.6 percent) and the Euro (2.5 percent).”
Source: FICCI
|GlobalGiants.Com|
— The editor holds academic certification in “Financial Market Analysis” from International Monetary Fund (IMF) Institute for Capacity Development, Washington, DC.
Edited & Posted by the Editor | 11:49 AM | View the original post
New Partners will advance “Content Authenticity Initiative” efforts, empowering photographers to establish the authenticity of images at the point of capture.
Photo: A LEICA Camera.
Photo: A NIKON Camera.
LOS ANGELES — (BUSINESS WIRE) — Adobe announced at Adobe MAX - the world’s largest creativity conference - a partnership between the Content Authenticity Initiative (CAI) and industry-leading camera manufacturers Leica and Nikon.
This milestone will allow photographers and creators to increase trust in their digital work by securely attaching valuable provenance information at the capture point, including when, where, and how the camera captured each image. These details establish an image’s attribution and trustworthiness from the start, which helps protect against misinformation by empowering consumers to identify the origins and edit history throughout the digital content lifecycle.
“As iconic global brands, Leica and Nikon have empowered photographers to capture some of the most significant moments in modern history,” said Dana Rao, chief trust officer and general counsel at Adobe. “Together with CAI, Leica and Nikon will enable their global customer base to attach provenance to their images at the point of capture, creating a chain of authenticity from camera to cloud. We’re thrilled to have Leica and Nikon partner in the CAI’s mission to restore trust in digital content.”
The CAI is an Adobe-led initiative with more than 800 members working to increase trust online through provenance, the origins of a piece of digital content. CAI’s leading members include, among others, The New York Times, USA Today, BBC, AFP, Microsoft, Twitter, McClatchy, GANNETT, Stern, The Globe and Mail, Reuters, Associated Press, Leica, and Nikon.
• Leica & CAI
For over a century, the Leica brand name has been synonymous with authentic images and cameras that have produced countless iconic photographs. Leica’s existing membership in the CAI and today’s extended partnership are broadening CAI’s reach to even more creative professionals and artists.
“Leica cameras have always witnessed iconic moments in world history. However, determining the authenticity of visual content has become increasingly difficult and important in the age of digital photography,” said Dr. Andreas Kaufmann, chairman of the Supervisory Board of Leica Camera AG. “Now, with the ability to provide this proof, we are once again strengthening trust in digital content and re-establishing Leica cameras as authoritative tools in documenting world events.”
• Nikon & CAI
As a leader at the forefront of innovative photography and the first camera manufacturer to join the CAI and C2PA, Nikon’s use of CAI technology will accelerate the implementation of provenance technology for millions of creative professionals.
Nikon believes protecting the imaging industry and the entire society from the unfavorable results of falsification and unauthorized use of images is a global problem, said Naoyuki Murakami, imaging business manager at Nikon Corporation. “As a company active in the imaging industry, we make utmost efforts to fulfill our professional and social responsibility regarding this issue,” Murakami remarked.
• Adobe
Adobe Inc. is an American multinational computer software company headquartered in San Jose, California. It produces specialized software for creating and publishing a wide range of content, including graphics, photography, illustration, animation, multimedia/video, motion pictures, and print.
(Adobe, Leica, and Nikon — names, logos, and trademarks — are the property of their respective owners.)
Source: Adobe
|GlobalGiants.Com|
— GlobalGiants.Com is a Member of the Content Authenticity Initiative (CAI).
Edited & Posted by the Editor | 6:32 AM | View the original post
Photo: Message from the President of India on Vigilance Awareness Week 2022.
Photo: Message from the Vice President of India on Vigilance Awareness Week 2022.
Photo: Message from the Prime Minister of India on Vigilance Awareness Week 2022.
Photo: Suresh N Patel, Central Vigilance Commissioner, Praveen Kumar Srivastava, Vigilance Commissioner, and Arvinda Kumar, Vigilance Commissioner, administer integrity pledge to the CVC officials at Satarkata Bhawan in New Delhi on October 31, 2022.
New Delhi, October 31, 2022 — Central Vigilance Commission of India is celebrating Vigilance Awareness Week from October 31 to November 6, 2022, with the following theme:
“Corruption-free India for a developed Nation”
The observance of Vigilance Awareness Week commenced with administering the integrity pledge by the Commission - Suresh N Patel, Central Vigilance Commissioner, Praveen Kumar Srivastava, Vigilance Commissioner, and Arvinda Kumar, Vigilance Commissioner at Satarkata Bhawan to the CVC officials. Prasar Bharati recorded the pledge-taking ceremony.
As a precursor to Vigilance Awareness Week 2022, the Central Vigilance Commission carried out a three-month campaign highlighting specific preventive vigilance initiatives as focus areas for all the Ministries/ Departments/ Organizations.
As a part of Vigilance Awareness Week, the Central Vigilance Commission will organize a function at Vigyan Bhawan on November 3, 2022. Prime Minister Narendra Modi will grace the event as the Chief Guest.
Photo (Update): Prime Minister Modi launches the “Complaint Management System Portal” at the program marking Vigilance Awareness Week of Central Vigilance Commission (CVC) in New Delhi on November 03, 2022.
Source: Central Vigilance Commission
|GlobalGiants.Com|
PM @narendramodi launches new Complaint Management System portal of Central Vigilance Commission (CVC)
— PIB India (@PIB_India) November 3, 2022
The portal is envisioned to provide end to end information to the citizens through regular updates on the status of their complaints
Watch a short filmðŸ“½ï¸ pic.twitter.com/v60yJfF0zg
Edited & Posted by the Editor | 7:04 AM | View the original post
Photo: Four TIME100 Next covers.
NEW YORK, October 25, 2022 — Tonight, TIME hosts the second TIME100 Next Gala to celebrate the members of its annual TIME100 Next list, an expansion of the TIME100 list of the most influential people in the world. The event will be hosted by Keke Palmer, with special remarks from members of this year’s list, including Simone Ashley, Lily Collins, Nalleli Cobo, Joel Kim Booster, George M. Johnson, Leah Thomas, Leah Thomas, and others, along with TIME co-chair Marc Benioff and TIME editor-in-chief and CEO Edward Felsenthal.
The 2022 TIME100 Next list, which highlights 100 rising stars who are defining the next generation of leadership in business, entertainment, sports, politics, health, science, activism, and more, was revealed on September 28. Here is the Full List:
ARTISTS
PHENOMS
INNOVATORS
LEADERS
ADVOCATES
Members of the TIME100 Next attending the celebration include Keke Palmer, Machine Gun Kelly, Jennette McCurdy, Lily Collins, Simone Ashley, Jonathan Majors, Joel Kim Booster, Law Roach, Lashana Lynch, Joe Alwyn, Donnel Baird, George M. Johnson, Ayo Edebiri, Dan Erickson, Devery Jacobs, Erriyon Knighton, Raul Lopez, Nida Manzoor, Casey McQuiston, Jessica Nouhavandi, Trinity Rodman, Leah Thomas, Taylor Tomlinson, Nalleli Cobo and many more.
Of the rising stars and changemakers on the 2022 list, TIME editor-in-chief and CEO Edward Felsenthal writes: “Real change requires urgency and the determination to respond quickly to global challenges. The leaders featured on this year’s TIME100 Next list have demonstrated that spirit. They are shaping our world—and demanding we join them.”
The 2022 TIME100 Next event is presented by signature partner Booking.com and supporting partners Glenfiddich and HSBC.
Source: TIME
|GlobalGiants.Com|
Edited & Posted by the Editor | 8:13 AM | View the original post
The transaction will expand JKN Global Group’s (“JKN”) portfolio of broadcast and entertainment properties to become a world-leading omnichannel powerhouse.
The acquisition will seek to build on The Miss Universe Organization’s more than 70-year legacy, including expanded investment in licensing and merchandising opportunities.
With today’s announcement, JKN Chief Executive Officer Anne Jakapong Jakrajutatip becomes the first woman owner in The Miss Universe Organization’s history.
Photo: Anne Jakapong Jakrajutatip, CEO of JKN Global Group and the first woman owner of The Miss Universe Organization.
BANGKOK, Oct. 26, 2022 — JKN, a Thai-owned media and content conglomerate, has announced the acquisition of The Miss Universe Organization from IMG.
The Miss Universe Organization is an international, inclusive organization that celebrates women of all backgrounds, cultures, and traditions and exists to advocate for a future forged by women and suitable for all. At 71 years, MISS UNIVERSE® is one of the longest-running and most-watched competitions in the world, broadcast in 165 countries worldwide and seen by more than half a billion people annually.
Led by CEO Amy Emmerich and President Paula Shugart, the Miss Universe Organization provides a global platform for more than 10,000 women annually to affect positive change through dedicated personal, professional, and philanthropic activities worldwide. Today’s announcement further propels the Organization’s commitment to inclusivity, with JKN Global Group’s Chief Executive Officer Anne Jakapong Jakrajutatip becoming the first woman owner of The Miss Universe Organization. The transition expands JKN’s global broadcast and media portfolio across entertainment and consumer products. JKN’s acquisition will build on The Miss Universe Organization’s strong brand and vision, developing an integrated and compelling proposition with new opportunities to grow the business in key and untapped markets, including Asia.
JKN said that it would leverage the strength of the Miss Universe brand and JKN’s lifestyle portfolio to create a new range of merchandise, as well as entertainment and various business opportunities that reflect the brand’s strength.
Anne Jakapong Jakrajutatip, Chief Executive Officer of JKN Global Group, said: “We are incredibly honored to be acquiring The Miss Universe Organization and working with its visionary leadership team. The global reach of the Organization, its relationships with global partners and brands, and its wealth of content and merchandising opportunities make this a strong, strategic addition to our portfolio. We seek to continue its legacy of providing a platform to passionate individuals from diverse backgrounds, cultures, and traditions and to evolve the brand for the next generation.”
Amy Emmerich, Chief Executive Officer, and Paula Shugart, President of The Miss Universe Organization, shared: “We are excited to continue the evolution of The Miss Universe Organization with JKN. Our relationships with global partners and brands have never been stronger, and our progressive approach positions us at the forefront of our industry. We want to thank IMG for providing a foundation to realize our aspirations for the brand.”
Source: JKN Global Group
|GlobalGiants.Com|
Edited & Posted by the Editor | 3:32 AM | View the original post
Photo: Diyas of Diwali. Image credit: George Mathew.
Photo: New York City Mayor Eric Adams, New York City Schools Chancellor David Banks, and New York State Assembly Member Jenifer Rajkumar Announce Support for Diwali as Public-School Holiday at a Press Conference.
New York, October 22, 2022 — Diwali will be a public holiday in New York City Schools starting in 2023. New York Assembly Member Jenifer Rajkumar announced this. She said, “Today, South Asian and Indo-Caribbean families like mine all over this city have made incredible contributions. And today, I’m proud to say our time has come. The time has come to recognize over 200,000 New Yorkers of the Hindu, Buddhist, Sikh, and Jain faiths who celebrate Diwali, the Festival of Lights. That is why today I stand with New York City Mayor Eric Adams and our school’s chancellor, David Banks, to light the way forward to make Diwali, once and for all, a school holiday in the City of New York.”
“Soon, the New York City Department of Education will be able to institute the Diwali holiday on the school calendar,” Jenifer Rajkumar added.
“Next week, we will celebrate Diwali, a celebration of good over evil, light over darkness, of the human ability to overcome, exemplified by Rama’s defeat of evil. In addition, we will celebrate the Hindu principles of interfaith, harmony, love, and tolerance for all New Yorkers. Today I am proud that New York City will soon join jurisdictions across the country and institute the Diwali school holiday. Thank you, and Happy Diwali to everyone in New York and worldwide,” Ms. Rajkumar elaborated.
New York City Schools Chancellor David Banks remarked, “There’s a reason this is the greatest city in the world because the whole world lives here, and they all go to school here. And we must honor and recognize our young people. So celebrating light, the triumph of light over darkness, is critically important.”
New York City Mayor Eric Adams concluded, “I learned so much about the Diwali holiday and the Festival of Lights. As we deal with so much darkness around us, we fail to realize the overwhelming amount of light around us. And when we take this period to acknowledge Diwali, we are acknowledging the light within us, the light that clearly can push away the darkness, which is why this is so significant.”
Source: City of New York Press Office
|GlobalGiants.Com|
Edited & Posted by the Editor | 10:50 AM | View the original post
Photos: FILA debuts New Global Campaign featuring Hailey Bieber.
Luxembourg, October 20, 2022 - FILA has tapped American model, media personality, and socialite Hailey Bieber to front the brand’s new global campaign, giving the model and entrepreneur a canvas to express her unique sense of style while utilizing some of the brand’s iconic designs.
Renell Medranohe photographed the campaign, and Renell Medrano and Hailey styled it. Hailey gets featured in various archival FILA pieces and staple styles, including a crewneck sweatshirt, sweater vest, oversized utility pants, and a puffer jacket, accessorizing with bucket hats and FILA footwear.
The photos capture the spirit of the 90s, from the apparel to the styling to the aesthetic. Working hand in hand with the brand, she brings her point of view to FILA classics with a modern and effortless interpretation.
“My style is ever-evolving, and FILA’s designs are timeless and the perfect complement to my everyday wardrobe,” said Hailey. “I’m grateful for the opportunity to work closely with the brand to pull these iconic pieces and present them in a way that feels like a true reflection of my style.”
“Hailey has an enviable and often imitated street style, and she has quickly emerged as a fashion icon for this generation,” said Gene Yoon, Global Chairman at FILA. “As a brand, we have always celebrated individuality and a willingness to take chances in design. Hailey is fearless with her fashion choices, versatility, authenticity, and originality in the expression of her style. FILA has become part of Hailey’s closet, and it was a natural fit to work together on this new campaign.”
The campaign launched on October 18 and will be featured in digital elements globally, including outdoor and subway signage, digital banners, and across FILA social channels.
Founded in 1911, FILA is an Italian sportswear and lifestyle brand with a rich and diverse history. Throughout its 105 years as a brand, FILA has had the opportunity to design athletic wear for some of the finest athletes in tennis, golf, skiing, basketball, and baseball. FILA products are available in over 30 countries, including Italy, the United Kingdom, Germany, France, China, Japan, Korea, Brazil, and the United States.
Source: FILA
|GlobalGiants.Com|
Edited & Posted by the Editor | 10:35 AM | View the original post
Ariana DeBose, Anne Hathaway, Zoë Kravitz, Issa Rae, Sydney Sweeney, Sigourney Weaver, Olivia Wilde, and Michelle Yeoh were honored at ELLE Women in Hollywood celebration on October 17 in Los Angeles. The event was sponsored and presented by Ralph Lauren, Amyris, and Lexus.
Photos: ELLE, Women in Hollywood, November 2022 issue individual covers. On newsstands November 1, 2022.
LOS ANGELES, CA (October 18, 2022) - Eight remarkable women were honored at the 29th annual ELLE Women in Hollywood Celebration for their creative and cultural contributions to the worlds of music, film, television, and beyond. In partnership with presenting sponsors Ralph Lauren, Amyris, and Lexus, ELLE Editor-in-Chief Nina Garcia, feted Ariana DeBose, Anne Hathaway, Zoë Kravitz, Issa Rae, Sydney Sweeney, Sigourney Weaver, Olivia Wilde, and Michelle Yeoh. In addition, the event brought together honorees, presenters, artists, and Hollywood legends for this year’s dinner and awards celebration.
In addition to being feted at the annual awards dinner in Los Angeles, the honorees are also featured on individual covers of ELLE’s November 2022 Women in Hollywood issue, on newsstands November 1, 2022.
ELLE is a leading fashion magazine and global media brand with 45 editions, 34 websites, and more than 158 supplements worldwide. The ELLE U.S. brand reaches over 29 million influential readers, users, fans, and followers across all platforms. It inspires women to explore and celebrate style in all aspects of their lives with inclusive and innovative content.Â
Source: ELLE
|GlobalGiants.Com|
Edited & Posted by the Editor | 8:59 AM | View the original post
Photo: The Governor, Reserve Bank of India, Shaktikanta Das, confers with another Central Bank Governor during IMFC Restricted Early Warning Exercise Meeting in Washington, DC. IMF Managing Director Kristalina Georgieva, First Deputy Managing Director Gita Gopinath, Deputy Managing Director Bo Li, and Deputy Managing Director Kenji Okamura also participated in the International Monetary and Financial Committee Restricted Early Warning Exercise during the 2022 Annual Meetings at the International Monetary Fund. October 13, 2022. Washington, DC, United States. IMF Photo/Allison Shelley.
Photo: IMF Managing Director Kristalina Georgieva takes her seat before the Annual Meetings Plenary at the International Monetary Fund. October 14, 2022. Washington, DC, United States. IMF Photo/Allison Shelley.
Photo: IMF Managing Director Kristalina Georgieva participates in the Debate on Global Economy Seminar during the 2022 Annual Meetings at the International Monetary Fund. October 13, 2022. Washington, DC, United States. IMF Photo/Joshua Roberts.
Photo: IMF Managing Director Kristalina Georgieva, First Vice President of Spain and IMFC Chair Nadia Calvino, and Secretary General of the United Nations, António Guterres, participate in the IMFC Plenary Session during the 2022 Annual Meetings at the International Monetary Fund. October 14, 2022. Washington, DC, United States. IMF Photo/Cory Hancock.
Washington, DC, October 15, 2022 — International Monetary Fund Financial Committee (IMFC) Chair Nadia Calvino and IMF Managing Director Kristalina Georgieva summarized the outcome of the 46th IMFC at the 2022 IMF-World Bank Annual Meetings.
IMF Managing Director Kristalina Georgieva said that the message from the IMF is clear.
We recognize that we need to do more, especially in debt. So meeting participants are urging the IMF to forcefully step forward with possible solutions to bring more impactful needs to the standard framework. They are also asking to proactively work for the creditors and debtors to seek an early resolution to the problems for which we need clear guidelines. We need more predictability, and we need fair treatment of all creditors, public and private. Finally, I want to finish by saying what I said in the end. We were running out of time, and you turned to me and said, How would you sum up this meeting? And my summing up was to buckle up and keep going. And this is what we intend to do, said Georgieva.
IMF Managing Director Kristalina Georgieva called for an end to Russia’s war on Ukraine.
“On a very human, practical, and objective level. Stop the war. Stop the war. I’m looking at this audience. Wouldn’t you think this is the most straightforward way to get the world economy in better shape? Stop the war,” said Georgieva.
IMFC Chair Nadia Calvino highlighted the global economic situation as a factor in the growth of far-right extremism.
“The current environment is one of slowing down growth, high cost of living or increasing cost of living in many parts of the world. But, in addition, big changes involve digitalization, climate change, geopolitical shift, and rising inequality in many of our countries. And this is an environment which is quite open to the messages of people that have elementary and ineffective and wrong solutions to complex matters,” said Calvino.
Source: IMF (International Monetary Fund)
|GlobalGiants.Com|
— The editor is a Financial Market Analyst qualified from the International Monetary Fund Institute for Capacity Development, Washington, DC.
Edited & Posted by the Editor | 4:54 AM | View the original post
Photo: Tara Sutaria as the show stopper for Aisha Rao Official at Lakmé Fashion Week in partnership with FDCI. October 2022. Image credit: FDCI/Lakme Fashion Week.
Photo: Showcasing trendsetting & experimental makeup looks straight from Lakmé Fashion Week in partnership with FDCI. October 2022. Image credit: FDCI/Lakme Fashion Week.
Photo: Gen-Next and INFD introduced new talent. Mumbai, India. October 2022. Image credit: FDCI/Lakme Fashion Week.
Photo: Kriti Sanon at the Lakme Fashion Week. Mumbai, India. October 2022. Image credit: FDCI/Lakme Fashion Week.
Lakmé Fashion Week, 12th-16th October, Mumbai Highlights:
Mumbai’s iconic, new landmark destination - Jio World Convention Centre, will hold Lakmé Fashion Week, a five-day event.
The extravaganza will kick off with the Opening Show on October 11, presented jointly by FDCI and Lakmé Fashion Week at an iconic venue, and will end with the much-awaited Lakmé Absolute Grand Finale on October 16.
Lakmé will present their skincare trend statement, the Lakmé Vit C range, in collaboration with Pankaj & Nidhi.
The FDCI Showcase of the season will be the return of master couturier Shahab Durazi with a retrospective showcase.
Several longstanding partners will return to the platform to collaborate with established designers, including NEXA x Gaurav Gupta, Lakmé Salon x Samant Chauhan, TENCEL™ x Anju Modi, R|ElanTM x Gauri & Nainika, realme x Amit Aggarwal and Logitech x Saaksha & Kinni.
Leading Designer showcases include Abraham & Thakore, Anand Kabra, Gaurang, Geisha Designs by Paras and Shalini, Nachiket Barve, Not So Serious by Pallavi Mohan, Payal Singhal, Pawan Sachdeva, Satya Paul, Shantnu and Nikhil, Shyamal & Bhumika and Rina Dhaka.
Gujarat Titans will be the first Indian Premier League team to collaborate with the event to present a dynamic streetwear collection in partnership with ace designer Kanika Goyal.
Sustainable Fashion Day curations include TENCEL™ x Anju Modi, Eká, and a showcase by Pieux - the winner of R|ElanTMpresents Circular Design Challenge in partnership with the United Nations in India.
RISE Worldwide & British Council of India will present an engaging discussion on Fashion, Climate & The Role of Women moderated by Aditi Mayer.
The FDCI Emerging Designers of the season are Khanijo, Countrymade, and Son of a Noble SNOB.
The platform’s distinguished talent discovery programs, such as INIFD GenNext, INIFD Launchpad, and NEXA, present The Spotlight x Bloni, introducing upcoming talent to the fashion industry.
FDCI will also present Pearl Academy x Graduate Fashion Week International, a prestigious global platform.
The most anticipated sale of the industry- the FDCI Designer Stockroom will be hosting its 9th edition and, for the first time, in Mumbai on the event’s last day.
Celebrated and leading designer brands from across the country will be showcasing their collections, including Aisha Rao, Abhishek Sharma, Anushree Reddy, Diksha Khanna, Eshaa Amiin, Guapa, Limerick by Abirr N’ Nanki, Mishru, Nikita Mhaisalkar, Nikhita - Mynah Designs, Nirmooha, Sanjukta Dutta, Studio Medium, SVA by Sonam & Paras Modi, Swatti Kapoor and Varun Nidhika.
With a schedule and line-up featuring some of the best designers and partners across the country, the event will commence with a spectacular Opening Show on October 11 and conclude with the best of beauty and Fashion presented by the Lakmé Absolute Grand Finale on October 16.
The platform will always offer two showcase areas (the Runway and the Atelier) for designers. In addition, it will continue to champion sustainability, inclusivity, and diversity through cutting-edge innovations and environmentally conscious initiatives. All showcases will continue to be live-streamed across the platform’s OTT partners, Jio TV and Voot, and FDCI and LFW social media channels to reach the widespread Indian and global fashion audience.
The fashion business will also be a critical driving force, with the largest ever area dedicated to the FDCI Showroom and the presence of Buyers expected from around the world.
Sunil Sethi, Chairman of FDCI, commented, “This season’s curation of designers truly inculcates the best talent we have in Fashion today. As we navigate the return of in-person showcases, fashion enthusiasts can expect electrifying and dynamic presentations rooted in design compositions that present themselves as nothing short of art on the runway. FDCI is delighted to be back in Mumbai with a grand edition, several unique FDCI showcases, and a huge focus on the fashion business.”
Source: Fashion Design Council of India (FDCI) / Lakmé Fashion Week
|GlobalGiants.Com|
Edited & Posted by the Editor | 10:21 AM | View the original post
Photo: Behinds the scenes during the 2022 Annual Meetings at the International Monetary Fund. Washington, DC, United States. October 10, 2022. IMF Photo/STEPHEN VOSS.
Photo: IMF Managing Director Kristalina Georgieva participates in a meeting at the Global Center on Adaptation. Rotterdam, Netherlands. September 5, 2022. IMF Photo/Eric Kampherbeek.
Washington, October 11, 2022 — The IMF projects global growth is slowing under the burden of high inflation, the impact of Russia’s war in Ukraine, and the lingering effects of the pandemic, announced Pierre-Olivier Gourinchas, the IMF’s Chief Economist on Tuesday, October 11 in Washington, DC.
The Fund expects global growth to remain unchanged in 2022 at 3.2 percent and to slow down to 2.7 percent in 2023—0.2 percentage points lower than the July forecast—with a 25 percent probability that it could fall below 2 percent.
“The global economy is weakening further and facing a fragile environment. The outlook continues to be shaped by three forces. Persistent and broadening inflation, causing a cost-of-living crisis, the Russian invasion of Ukraine and the associated energy crisis, and the economic slowdown in China. This year’s projection for world GDP growth is unchanged at 3.2%, as in the July World Economic Outlook update. Global growth is forecast to slow to 2.7% in 2023, 0.2 percentage points lower than projected in July. The slowdown is broad-based. More than a third of the global economy will contract in 2023, while the three largest economies in the world, the United States, the Euro area, and China, will continue to stall. For the first time, we calculated risks around the baseline projections. We find there is a 25% chance that growth will fall below 2% in 2023. It happened exceedingly rarely in the past, and a 10 to 15% chance it will fall below 1%, corresponding to a decline in real output per capita,” said Gourinchas.
Downside risks remain elevated, while policy trade-offs to address the cost-of-living crisis have become acutely challenging. Moreover, monetary, fiscal, or financial policy miscalibration risk has risen sharply when the world economy remains historically fragile and economic markets show signs of stress.
Gourinchas explained that, unfortunately, most risks to the outlook are to the downside:
Persistent and broadening inflation pressures have triggered a rapid and synchronized tightening of monetary conditions, alongside a robust appreciation of the US dollar against most other currencies. Tighter global economic and financial conditions will work their way through the economy, gradually weighing demand down and helping to subjugate inflation.
“The biggest fight now is the fight against inflation. Central banks are laser-focused, and they need to keep a steady hand. Growth will slow in 2023 as conditions tighten and some financial fragilities may emerge. But the main priority should be to restore price stability. It is the bedrock of future economic prosperity. Next, fiscal policy needs to be guided by coherent economic principles. First, pandemic-era stimulus should be withdrawn and buffers rebuilt. Second, fiscal policy should not work at cross-purposes with monetary policy. Third, the energy crisis will be long-lasting. Solving it requires supply to increase and demand to decrease. Price signals will be important to achieve that. Fourth, governments should provide direct, temporary, and targeted help to low- and middle-income families. Finally, many countries are struggling with the strength of the dollar. Yet this reflects mostly the speed of the tightening cycle in the United States and the energy crisis. Unless financial markets become severely disrupted, monetary policy should focus on inflation while allowing the exchange rate to adjust to underlying economic forces,” warned Gourinchas.
Source: IMF (International Monetary Fund)
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— The editor has an Academic Certificate in “Financial Market Analysis” issued by “Institute for Capacity Development, International Monetary Fund, Washington, DC.”
Edited & Posted by the Editor | 11:59 AM | View the original post
Photo: A view of the “Peace Monument” sculpture in the garden of UN Headquarters. Croatian sculptor Antun Augustincic made this sculpture. It depicts a woman riding a horse with an olive branch in one hand and a globe in the other. September 29, 2022. The United States of America. New York. UN Photo/Rick Bajornas.
Source: United Nations, New York
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Edited & Posted by the Editor | 10:33 AM | View the original post
Photo: 2022 Nobel Prize in Economic Sciences Winners: Ben S. Bernanke, Douglas W. Diamond, and Philip H. Dybvig.
10 October 2022
The Royal Swedish Academy of Sciences has decided to award the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2022 to
Ben S. Bernanke
The Brookings Institution, Washington DC, USA
Douglas W. Diamond
University of Chicago, IL, USA
Philip H. Dybvig
Washington University in St. Louis, MO, USA
“for research on banks and financial crises.”
Their discoveries improved how society deals with financial crises. This year’s laureates in the Economic Sciences, Ben Bernanke, Douglas Diamond, and Philip Dybvig, have significantly improved our understanding of the role of banks in the economy, particularly during financial crises. An important finding in their research is why avoiding bank collapses is vital.
Modern banking research clarifies why we have banks, how to make them less vulnerable to crises and how bank collapses exacerbate financial problems. Ben Bernanke, Douglas Diamond, and Philip Dybvig laid the foundation of this research in the early 1980s. Their analyses have been of great practical importance in regulating financial markets and dealing with financial crises.
For the economy to function, savings must be channeled to investments. However, there is a conflict here: savers want instant access to their money in case of unexpected outlays. On the other hand, businesses and homeowners need to know they will not be forced to repay their loans prematurely. In their theory, Diamond and Dybvig show how banks offer an optimal solution to this problem. By acting as intermediaries accepting deposits from many savers, banks can allow depositors to access their money when they wish while offering long-term loans to borrowers.
However, their analysis also showed how these two activities make banks vulnerable to rumors about their imminent collapse. If many savers simultaneously run to the bank to withdraw their money, the story may become a self-fulfilling prophecy - a bank run occurs, and the bank collapses. The government providing deposit insurance and acting as a lender of last resort to banks can prevent these dangerous dynamics.
Diamond demonstrated how banks perform another societally important function. As intermediaries between many savers and borrowers, banks are better suited to assessing borrowers’ creditworthiness and ensuring that loans are used for suitable investments.
Ben Bernanke analyzed the Great Depression of the 1930s, the worst economic crisis in modern history. Among other things, he showed how bank runs were a decisive factor in the situation becoming so deep and prolonged. When the banks collapsed, valuable information about borrowers was lost and could not be recreated quickly. Society’s ability to channel savings to productive investments was thus severely diminished.
“The laureates’ insights have improved our ability to avoid serious crises and expensive bailouts,” remarked Tore Ellingsen, Chair of the Committee for the Prize in Economic Sciences.
Sources: The Nobel Prize / The Royal Swedish Academy of Sciences
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Edited & Posted by the Editor | 8:22 AM | View the original post
Paris, October 5, 2022 — On World Teachers’ Day, Audrey Azoulay, Director-general of UNESCO, called governments worldwide to step up their support for teachers, warning that the profession is struggling to retain its workforce and attract new talent. Worldwide, 69 million teachers are needed to reach universal primary education by 2030.
UNESCO’s estimates indicate the need for an additional 24.4 million teachers in primary education and some 44.4 million teachers for secondary education to achieve universal primary education by 2030.
New UNESCO figures unveiled for 2022 World Teachers’ Day show that, in sub-Saharan Africa, 5.4 million teachers are needed at the primary level and 11.1 million at the secondary level for achieving the targets set by the 2030 Agenda. Southern Asia is the region with the second largest deficit. Here UNESCO projects that 1.7 million additional teachers will be needed at the primary level and 5.3 million at the secondary level.
In low-income countries, the first obstacle is the heavy workload. According to new UNESCO data, each primary teacher in these countries has an average of 52 pupils per class at the primary level, while the global average is 26. The ratio is exceptionally high in sub-Saharan Africa - 56 pupils per teacher - and Southern Asia - 38. In Europe and North America, there are only 15 pupils per teacher on average.
A lack of training amplifies supervision difficulties. In addition, teachers do not always have all the tools at hand to succeed in the classroom. For example, UNESCO data shows that about 26% of primary and 39% of secondary school teachers do not have the minimum qualification requirements in low-income countries, compared to 14% and 16% globally.
Non-competitive salaries also accentuate the vocational crisis. UNESCO data shows that 6 out of 10 countries pay primary school teachers less than professionals with similar qualifications. This criterion is particularly evident in high-income countries. In 5 out of 6 countries in this group, primary school teachers earn less than other comparable professionals. Three high-income countries have a commendable teacher salary policy: Singapore, with an average salary of 139% of similar professions, Spain (125%), and the Republic of Korea (124%).
World Teachers’ Day is held annually on October 5 to celebrate all teachers around the globe. It commemorates the anniversary of adopting the 1966 ILO/UNESCO Recommendation concerning the Status of Teachers, which sets benchmarks regarding the rights and responsibilities of teachers, and standards for their initial preparation and further education, recruitment, employment, and teaching and learning conditions. In addition, the Recommendation concerning the Status of Higher-Education Teaching Personnel was adopted in 1997 to complement the 1966 Recommendation by covering teaching personnel in higher education.
Source: UNESCO
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Edited & Posted by the Editor | 1:55 AM | View the original post
• One hundred-fifty States unanimously adopted an ambitious Declaration for Culture on Friday at the end of a three-day conference convened by UNESCO. The text affirms Culture as a “global public good.” It reflects countries’ agreement on a joint roadmap to strengthen public policies in this field.
Photos: MONDIACULT 2022. UNESCO World Conference on Cultural Policies and Sustainable Development. Images provided by & copyright © UNESCO / Juan Luis M. Acevez.
Mexico, September 30, 2022 — MONDIACULT 2022, the most significant world conference devoted to Culture in the last 40 years, brought together nearly 2,600 participants over three days in Mexico City. At UNESCO’s and Mexico’s invitations, 150 States sent delegations to the conference, and 135 of them were represented at the highest level by ministers of Culture.
“Culture has a fundamental role in our societies. People can discover their common humanity through Culture and become free and enlightened citizens. Yet, despite progress, it still does not have the place it deserves in public policies and international cooperation. MONDIACULT 2022 is a powerful signal to change this. The Declaration adopted today is a commitment to action,” UNESCO Director-General Audrey Azoulay said.
In the Declaration, the fruit of ten months of multilateral negotiations led by UNESCO, States affirm for the first time that Culture is a “global public good.” Consequently, States call for Culture to be included “as a specific objective in its own right” among the United Nations Sustainable Development Goals.
The text defines a set of cultural rights that need to be considered in public policies, ranging from artists’ social and economic rights to artistic freedom. Also included is the right of indigenous communities to safeguard and transmit their ancestral knowledge and protect and promote cultural and natural heritage.
It also calls for substantial regulation of the digital sector, notably of the major platforms, to benefit online cultural diversity, artists’ intellectual property rights, and fair access to content for all.
Stepping up the fight against illicit trafficking in cultural property: In the Declaration, governments also commit to intensify the fight against illegal trafficking in cultural goods with increased international cooperation. They call on art market operators not to offer for sale objects whose provenance is not proven.
The emphasis on “unprovenanced” objects calls for protecting vulnerable archaeological sites. The Declaration mandates UNESCO to propose standard-setting instruments to meet these challenges.
On the same subject, Ms. Azoulay announced the creation by UNESCO and INTERPOL of a virtual museum of stolen cultural property. It will serve as an educational and pedagogical tool so that citizens can learn about the history of these works and help people research the provenance of pieces about which they are unsure. The virtual museum will be up and running by 2025.
A delegation headed by the Minister of State for Culture, Arjun Ram Meghwal, represented India at UNESCO-MONDIACULT 2022 World Conference.
Source: UNESCO
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Edited & Posted by the Editor | 2:41 AM | View the original post
• India today aspires to take its ranking in the GII Index to the top 25: Piyush Goyal, Minister for Commerce and Industry.
New Delhi, September 30, 2022 — Union Minister for Commerce and Industry, Consumer Affairs, Food, and Public Distribution and Textiles, Shri Piyush Goyal, said that India had come a long way in the Global Innovation Index (GII) from the 81st spot in 2015 to the 40th spot in 2022 today. ‘We were 46 last time the ranking took place. He added that we have also maintained 1st rank in ICT services exports. Shri Goyal was delivering a virtual message to mark the launch of the Global Innovation Index 2022 by the World Intellectual Property Organization (WIPO).
The Minister said that GII had established itself as a tool for governments worldwide to reflect upon policies and their impact. “GII has over the years recognized India’s continuous rise due to the progressive measures taken by the government and industry working hand in hand,” he added. He also expressed his gratitude to WIPO on behalf of 1.3 billion Indians and said that India today aspires to take our ranking in the GII Index amongst the top 25.
Shri Goyal said that Innovation had been a catalytic force for the economy and society. “Though Innovation implies novelty, it is also rooted in tradition for us in India. He added that ancient scientific knowledge, including the Vedas and traditional medicine, is a testament to India’s innovative spirit”.
Shri Goyal opined that incubation, handholding, funding, industry-academia partnership, and mentorship had stirred entrepreneurial spirit across the country. He said that India had embarked on the ‘Digital India’ journey in 2015 and has set up a goal of a trillion-dollar digital economy in the next few years. “Digitization of Government initiatives and public services has been our continuous focus,” he observed.
“To further strengthen Innovation, we have introduced the National Education Policy, which promotes the spirit of inquiry by setting up incubation & technology development centers. With over 9000 Atal Tinkering Labs, we encourage youth to develop solutions to society’s problems”, he added.
Meanwhile, the Prime Minister, Shri Narendra Modi, has expressed pride for Indian Innovators as India climbs to the 40th rank in the Global Innovation Index of World Intellectual Property Organization (WIPO).
Source: Ministry of Commerce & Industry, Government of India
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— The Editor is an Alumnus of the WIPO Academy (Geneva, Switzerland).
Edited & Posted by the Editor | 8:41 AM | View the original post
• All Winning Films are now eligible for the 2022 Oscars
Photo: Billie Eilish and Finneas O’Connell pose backstage with their Oscars during the live ABC telecast of the 94th Oscars at the Dolby Theatre at Ovation Hollywood in Los Angeles, CA, on Sunday, March 27, 2022. Image Credit: Luis Alberto Rodriguez / A.M.P.A.S. [File Photo]
LOS ANGELES, CA — The Academy of Motion Picture Arts and Sciences has voted 14 students as winners of the 49th Student Academy Awards competition. This year, the Student Academy Awards competition received a total of 1,796 entries from 614 colleges and universities around the world. The 2022 winners join past Student Academy Award winners such as Patricia Cardoso, Pete Docter, Spike Lee, Patricia Riggen, and Robert Zemeckis.
The winners are (listed alphabetically by category):
Alternative/Experimental
Animation
Documentary
Narrative
First-time honors go to Pôle 3D Digital & Creative School.
All Student Academy Award-winning films are eligible to compete for the 2022 Oscars in the Animated Short Film, Live Action Short Film, or Documentary Short Film categories. Past winners have gone on to receive 65 Oscar nominations and have won or shared 14 awards.
For the first time since 2019, students will participate in an in-person award ceremony on Thursday, October 20, at 7:30 p.m., at the David Geffen Theater in Los Angeles. The Academy will announce the Gold, silver, and bronze medal placements in the four award categories at the ceremony.
The 49th Student Academy Awards ceremony on October 20 is free and open to the public, but advance tickets are required. The David Geffen Theater is located at the Academy Museum of Motion Pictures at 6067 Wilshire Boulevard.
Starting this year, the Student Academy Awards no longer distinguish between domestic (U.S.-based) and international (non-U.S.-based) schools for categories. Regardless of where they are from, all eligible submissions now qualify for the competition category the filmmaker selected in their submission application.
The Student Academy Awards were established in 1972. They provide a platform for emerging global talent to showcase their work.
Source: The Academy of Motion Picture Arts and Sciences
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Edited & Posted by the Editor | 6:02 AM | View the original post
Photo: Maria Thattil, Miss Universe Australia 2020 and a 2021 Miss Universe Competition Contestant. Image provided by & copyright © The Miss Universe Organization, New York. [File Photo]
NEW YORK, NY (September 23, 2022) - The Miss Universe Organization has announced the 71st MISS UNIVERSE competition will take place in New Orleans, Louisiana, on Saturday, January 14, 2023.
“There is no place like New Orleans. This vibrant city has been at the top of our list to host for quite some time due to its rich cultural history, as well as its unique arts, entertainment, and culinary scene,” said Paula Shugart, President of The Miss Universe Organization. “I look forward to our delegates from all over the world getting to experience all it has to offer.”
The highly anticipated event will feature almost 90 women from around the globe vying for the job of Miss Universe through the process of personal statements, in-depth interviews, and various categories, including evening gowns & swimwear. The evening will culminate with the 70th Miss Universe, Harnaaz Sandhu, who brought the title back to India for the first time in twenty-one years, crowning her successor.
“My time as Miss Universe has been an incredible experience, and I am so grateful for all the opportunities I have received due to this platform,” said Sandhu. “I’m very excited that I will be crowning the next titleholder in New Orleans and that she will kick off her reign in such an exciting and special city known for its resiliency, music, and grand celebrations.”
“The City of New Orleans and the Miss Universe Organization share common values of celebrating inclusion, culture, and the empowerment of women,” said New Orleans Mayor LaToya Cantrell, the first female Mayor in the city’s 300-year history. “Former Miss Universe delegates and winners have gone on to become surgeons, diplomats, politicians, and business leaders, and they all champion social causes that are important to them. In addition, hosting this event demonstrates the significant global impact an international city like New Orleans has on the world’s tourism and cultural stages. We are honored to host the 71st annual Miss Universe pageant and show people around the globe why New Orleans is the best at executing major events, festivals, conferences, and conventions with an unmatched culture.”
Source: The Miss Universe Organization
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Edited & Posted by the Editor | 8:50 AM | View the original post
LONDON, Sept. 13, 2022 — The USA dominates the world’s Top 20 Cities with the Most Millionaires in 2022, with New York taking the crown with 345,600 millionaires. Five other American cities, San Francisco, Los Angeles, Chicago, Houston, and Dallas, secure places on the coveted world’s wealthiest cities ranking. Tokyo is in 2nd place with 304,900 high-net-worth residents worth over USD 1 million.
London, the wealthiest city in the world for many years, drops to 4th place below the San Francisco Bay Area with just 272,400 millionaires. This information comes from the latest Henley Global Citizens Report, which tracks private wealth migration trends worldwide.
Two Chinese cities, Beijing (9th) and Shanghai (10th), make it into the Top 10, and Switzerland and Australia each manage to secure two top city spots, with Sydney (11th), Zurich (15th), Melbourne (17th), and Geneva (19th) all making the cut. Singapore (5th), Hong Kong (SAR China) (12th), Frankfurt (13th), Toronto (14th), Seoul (16th), and finally Paris, plummeting three places to 20th, make up the rest of the 2022 ranking.
The report features exclusive data from global wealth intelligence firm New World Wealth. It includes the five wealthiest cities in each significant region and the 25 fastest growing cities in terms of millionaire growth.
Dr. Juerg Steffen, CEO of Henley & Partners, points out that 14 of the Top 20 are in countries that host investment migration programs. ” The right to live, work, study, and invest in leading international wealth hubs such as New York, London, Singapore, Sydney, and Toronto can be secured via residence by investment. Being able to relocate yourself, your family, or your business to a more favorable city or have the option to choose between multiple different residences across the world is an increasingly important aspect of international wealth and legacy planning for private clients.”
The millionaire populations of Dubai, Mumbai, and Shenzhen are expected to break into the Top 20 wealthiest cities by 2030, according to Andrew Amoils, Head of Research at New World Wealth. “Cities with strong oil and gas industries are performing especially well this year, including Riyadh, Sharjah, Luanda, Abu Dhabi, Doha, and Lagos. Others on the fastest-growing list include Lugano, a Swiss hotspot for affluent retirees, Bengaluru, the ‘Silicon Valley of India,’ and Hangzhou, one of China’s most scenic cities.”
Source: Henley & Partners
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Edited & Posted by the Editor | 11:01 AM | View the original post
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