HSBC Says India 2nd Most Loved Asian Market

HSBC said foreign institutional investors warmed up to Asian equities in November as the region recorded net inflows of $ 5.3 billion, out of which India attracted $ 1.4 billion.

According to the global financial services major, after two consecutive months of sell-offs, FIIs have warmed up to Asian equities and all markets have received positive flows in November.
         

Among Asian economies, China regained the top position as the 'most loved' market, pushing India down to second position in the region, while Thailand was placed at the third spot, it said.     
  

Till November 24, the region recorded net inflow of $ 5.3 million and though all markets received positive flows, Taiwan and India received the major chunk of funds with inflows of $ 2.3 billion and $ 1.4 billion, respectively.     

So far this year, the total FII inflows to Asian equities stood at $ 38.7 billion.   

Modi Announces Satellite For SAARC Nations

Addressing the SAARC Summit in Kathmandu, Indian Prime Minister Narendra Modi announced 3-5 year business visas for South Asian neighbours and a satellite for the region.

Announcing plans to launch the satellite for the SAARC region in 2016 as India’s gift to the region, Prime Minister said it will benefit all of the region.

PM Modi also promised a special funding vehicle, overseen by India to finance infrastructure projects in the region.

"Nowhere in the world are collective efforts more urgent than in South Asia; and, nowhere else is it so modest," PM Modi that focused mainly on improving regional connectivity and trade.

SAARC, he said bluntly, was viewed with cynicism and skepticism. "We must work to change that cynicism into optimism," he told South Asian heads of state gathered at Kathmandu.

The prime minister also said that the future he dreamt for India was the future that he wished for the entire Saarc region.

Trade between the SAARC nations -- Afghanistan, Bangladesh, Bhutan, India, Nepal, the Maldives, Pakistan and Sri Lanka -- has grown from under $140 million in 2008 to $878 million in 2012, according to SAARC figures.

But it still accounts for less than five percent of the region's total commerce, PM Modi said, adding that South Asian nations conduct only 5 percent of their total trade with each other despite a free trade agreement.

Announcing special business and medical visas, he called for nations to make procedures simpler, facilities better and paperwork less burdensome.

Sheikh Mohammed Opens 2014 IAP Annual Conference

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, opened the 19th International Association of Prosecutors (IAP) Annual Conference 2014.

Dubai's Attorney-General, His Excellency Essam Eisa Al Humaidan expressed gratitude to HH Sheikh Mohammed bin Rashid Al Maktoum for gracing the opening ceremony and patronising the event. HE Al Humaidan said Dubai Public Prosecution was delighted to welcome such a large number of heads and members of delegations as well as the participants in the conference. He expressed the hope that IAP Annual Conference would live up to the expectations of all attendees and achieve desired results.

The Attorney General said the conference has high aspirations as Dubai continues to raise the bar on delivery of justice and judicial work through the use of technology and organisational excellence in public prosecution.

Gerhard Jarosch, President of IAP expressed his pleasure over bringing the IAP Annual Conference to Dubai.

HH Sheikh Mohammed bin Rashid Al Maktoum launched the IAP Arabic website, an initiative of DPP in collaboration with IAP, in response to the message of HH Sheikh Mohammed bin Rashid Al Maktoum to support the Arabic language and consolidate its position as a tool of culture and an expression of values and originality.

High Court grants relief order to Kerala Bar Hotels

Kerala High Court permitted the remaining 317 bar hotels in the state to continue functioning till December 12 by extending the status quo order granted earlier on a batch of appeals by the Bar owners.

However, the division bench of the court did not allow a stay on the verdict of the single bench. Earlier, a single bench allowed bars to function till November 30 but allowed bars in four and five star category to continue operations.

The single bench had upheld the state excise policy for 2014-15 thus paving the way for closure of over 700 odd bars, including the 418 bars whose licenses were not renewed. But the single bench had made it clear that hotels classified as four star and heritage were entitled to bar license.

Challenging the decision to permit bars in four star and heritage hotels as 'untenable and unsustainable', the government has also filed an appeal which was admitted by the bench. The appeal will be heard from 3 December onwards.

Kerala Tourism To Build ‘Relax Points’ Across State

In order to provide better service to tourists and travellers, Kerala Tourism will construct wayside toilet complexes with restrooms and food courts across the State.

The complexes, with a plinth area of 500 to 1,000 sq.ft., will have a refreshment area, cloakroom, souvenir shop- cum- information kiosk, ATM, reservation check-in facilities, essential store, bathrooms, medicinal spa, and parking facilities.

Branded as Take-A-Rest, the ‘relax points’ are envisaged on two to 10 cents being made available by government departments, local self-government bodies, and public sector units.

Announcing the project at a press conference here on Tuesday, Tourism Minister A.P. Anil Kumar said the priority would be to set up the complexes on national highway stretches.

Three types of complexes - A, B, and C- had been worked out depending on the extent of land and the facilities offered. The ‘A’ type would cost Rs.50 lakh, ‘B’ Rs.25 lakh, and ‘C’ Rs. 10 lakh and the land need not be transferred to the department, he added.

Kerala Tourism will operate the complexes in the first year with the help of the DTPC and later hand them over to other parties to run it. The aim is to set up at least 10 such complexes in Thiruvananthapuram, Malappuram, and other districts initially.

Viber launches ‘Public Chats’ in India

Popular mobile communications app , Viber launched its new feature Public Chats in India.

Mark Hardy, chief marketing officer, Viber said "We have the highest number of users from India. Of our present 460 million users, 33 million are from India, followed by the US, Russia, Brazil and the UK,"

Public chats will allow users to share content, have conversations and interact with communities on mobile. These chats are live discussions between celebrities and personalities that Viber users can follow.

They offer a new kind of social experience - tapping into live conversations as they happen. Anyone on Viber can follow as many of these chats as they like on their mobile device.

Conversations are multi-media and include text, photos, audio, video, stickers, web links and more. Users can invite friends to follow the Public Chats that interest them, and can share content.

Visa-On-Arrival For US, Australia From Nov 27

Following Prime Minister Narendra’s Modi’s announcement in this regard, Visa-on-Arrival and Electronic Travel Authorisation for 43 countries, including  United States, Australia, Fiji and Pacific Island countries is expected to be in place on November 27.

According to a release from the Prime Minister’s Office, a draft Bill for amending the Citizenship (Amendment) Act, which will enable merger of the PIO (Person of Indian Origin) and OCI (Overseas Citizenship of India) schemes, is expected to be brought to the Cabinet for approval shortly.

The government has already announced fulfilment of the announcements made by the prime minister — such as granting visa for life to PIO card holders, exemption from police reporting for PIOs staying in India for  long term  and issuance of long term (10 year) visas to US nationals on a reciprocal basis.