The freezing ski resort of Davos, Switzerland in January 2018 was the first witness of Prime Minister Narendra Modi’s ambition of seeing India as a $5 trillion economy by 2025. True to the theme of the World Economic Forum’s annual event, “Shared Future in a Fractured World”, Modi invoked the oldest Upanishad — Isha Upanishad — to assure the global business community that Indians consider the world one big family, and that our future lay together. “We are moving towards becoming a five trillion US dollars economy by 2025. We will become 3rd largest consumer market in the World by 2025. According to the World Bank and IMF our growth rate is going to be steady and high. India ranked 3rd in WEF’s list of most trusted governments in 2017,” Modi said. Click to read more.
In this rapidly transitioning era, FinTech is one of the enablers to help evolve financial services across the globe. The convergence of technologies and financial services has been touted as “the key” to complete the vision of financial inclusion. While traditional banking and financial institutions continue catering to a wide distribution network across the country, the dynamics are changing rapidly. As the applications of FinTech evolve with innovative use cases, its rapid pace is helping shift the paradigm across all industries since the payment is the core to speed up commerce/eCommerce.Click to read more.
Ethiopia has planted more than 350 million trees in a day, officials say, in what they believe is a world record.
Prime Minister Abiy Ahmed is leading the project, which aims to counter the effects of deforestation and climate change in the drought-prone country.
Some public offices have been shut down to allow civil servants to take part.
The UN says Ethiopia’s forest coverage declined from 35% of total land in the early 20th Century to a little above 4% in the 2000s.
Mr Abiy launched the tree-planting exercise as part of his Green Legacy Initiative, which is taking place in 1,000 sites across the country.
Officials were assigned to count the seedlings being planted by volunteers, reports BBC’s Kalkidan Yibeltal in the capital, Addis Ababa. Ethiopia’s Minister of Innovation and Technology Getahun Mekuria tweeted that more than 350 million trees were planted in 12 hours. Click to read more.
Byju Raveendran joined the rarefied club after his Think & Learn Pvt scored $150 million in funding earlier this month. That deal conferred a value of $5.7 billion on the company in which the founder owns more than 21%, people familiar with the matter said. Its closing coincided with the announcement that the company’s Byju’s app — named after the founder — will team up with Walt Disney Co. and take its service to American shores by early 2020. Click to read more.