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October 13, 2016: BRICS reflects the member countries’ commitment to uphold the international law when some Western countries are trying to promote unilateral approaches, Russian President Vladimir Putin said on Thursday.
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And cooperation within BRICS — which clubs Brazil, Russia, India, China and South Africa — was already yielding practical results, Putin told IANS and Sputnik news agencies in an interview ahead of his visit to Goa to attend the BRICS Summit.
Putin described BRICS as one of the key elements of the emerging multipolar world.
“The five (member) countries have consistently reaffirmed their commitment to the fundamental principles of international law and promote the central role of the UN,” he said in response to questions from IANS.
“Our countries reject the policy of coercive pressure and infringement upon the sovereignty of other states. We take similar stances on urgent international issues, including the Syrian crisis and the Middle East settlement.”
The Russian leader said the BRICS summits’ final declarations reaffirm “our shared commitment to the fundamental principles of inter-state communication, particularly, to the observance of international law with the central coordinating role of the UN.
“With some Western countries attempting to promote their unilateral approaches, this position becomes even more relevant,” Putin said, adding that the Goa Summit would be no exception to this rule.
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Traditionally, the declarations of BRICS leaders outline fundamental consensus-based stances on a wide range of issues and identify short-term development goals for the five nations, he said.
This, he added, would serve as a target for follow-up steps aimed at strengthening strategic partnerships among the five countries in various spheres.
“As for rendering practical interaction among the five countries more substantive, I would like to stress that today, there exist more than 30 formats for inter-agency cooperation in the political, economic, humanitarian, security and law enforcement areas.”
Putin said the establishment of the New Development Bank (NDB) and the BRICS Contingent Reserve Arrangement with a total capital of $200 billion was one concrete example of this cooperation.
“I am convinced that, as the bank gets stronger, its output will only increase, including by means of projects that promote integration among the BRICS countries.
“The NDB started its work in 2016, having approved the first projects in all five countries.
“The priority at the current stage is renewable energy. In Russia, this implies the construction of small 50 MW hydropower plants in Karelia worth $100 million.”
Putin said the BRICS countries actively cooperated within the Group of 20 and sought to systematically converge their stand at the WTO to improve the rules and spur multilateral negotiations within the organisation.
“This is why I think the cooperation within BRICS has already begun to yield practical results. It is essential to continue work on consolidating these results and on identifying areas of common interest.
The Russian leader said the participants in the BRICS Summit in Goa would look at the initial results of implementing the Strategy for BRICS Economic Partnership adopted in Ufa and finalise the draft of BRICS Roadmap for Trade, Economic and Investment Cooperation until 2020.
“We intend to establish new formats and mechanisms to cooperate with our partners, in which concerted measures aimed at developing our ties in various fields will be elaborated.
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“At the same time we intend to focus on addressing issues related to strengthening international security and stability, enhancing the competitiveness of our economies and the promotion of international development.”
Putin said Russia supported the initiatives put forward by the Indian chairmanship in such fields as BRICS collaboration in agriculture, railway transport, sports, tourism and building people-to-people contacts. (IANS)
Chip manufacturer MediaTek on Monday announced that it is focused on making 2022 a year aimed at rapid growth, business success, substantial expansion in Research and Development capabilities.
MediaTek's plans to boost technology democratisation and enable access to disruptive connectivity with its range of mainstream to flagship 5G chips.
"We at MediaTek are focused on making 2022 a year aimed at rapid growth, business success, and substantial expansion in our R&D capabilities. For 2022, we are focused on further strengthening our presence in India, offering incredible experiences to customers, and supporting the country's technology initiatives with our expertise and collaboration with leading OEMs," Anku Jain, Managing Director, MediaTek India said in a statement.
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In the flagship segment, MediaTek recently announced the Dimensity 9000 chip, which is a milestone of innovation and a rise to the incredible, built-to-power flagship 5G smartphones in the world, the company claims.
MediaTek Dimensity 9000 features a single Cortex-X2 performance core clocked at 3.05GHz, three Cortex-A710 cores at 2.85GHz and four Cortex-A510 efficiency cores at 1.8GHz.
It packs a 10-core Arm Mali-G710 that takes care of graphics processing, the report said.
The chipset also comes packed with MediaTek's fifth-generation APU with six total cores for AI processing.Unsplash
Also read: Realme Unveils First 5G Smartphone
The chipset also comes packed with MediaTek's fifth-generation APU with six total cores for AI processing.
The chipset can handle screens with up to a 180Hz refresh rate at Full HD+ resolutions. It is also the first chipset to have an 18-bit image signal processor, offering the ability to capture 4K HDR video using up to three cameras at the same time, or still photos using up to a massive 320MP sensor. (IANS/PR)
(Keywords: 5G, smartphones, Mediatek)
If the US loses Chinese companies, Wall Street will gradually alienate itself from the world's most prosperous market and the US will no longer be the true global financial centre, Chinese state media claimed.
Didi Chuxing, the Chinese ride-hailing giant, announced on Friday that the company is starting the work of delisting from the New York Stock Exchange (NYSE) and initiating preparations for listing in Hong Kong.
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One day before Didi made the statement, the US Securities and Exchange Commission (SEC) issued a mandate requiring foreign companies listed in the US to provide audits for inspection. Otherwise, they could be delisted from NYSE and Nasdaq in three years.
"The new SEC regulation clearly targets Chinese companies listed in the US. Analysts believe that it could lead to more than 200 companies being kicked off US exchanges," Global Times reported.
Also Read : The forgotten Indo-China War
Didi is the first Chinese company, which announced that it would delist from the NYSE after the SEC issued its new regulation. The company got listed in the US in June without the approval of Chinese regulatory authorities, sparking concerns that the information of hundreds of millions of Chinese users would be leaked to endanger China's national security. More than 20 apps linked to the company were subsequently removed from mobile stores. The SEC's new regulation has compressed Didi's space for financing in the US from the other direction, the report said.
It will become more difficult for Chinese digital technology and application companies to get listed in the US in the future.Unsplash
There have already been voices in the US demanding most of the "China concept stocks" be removed from the US. Scrutiny of "China concept stocks" is expected to get stricter. The US provides various excuses such as "financial security" and "national security" for such scrutiny, the report said.
It will become more difficult for Chinese digital technology and application companies to get listed in the US in the future. This will cause losses to both sides. But the tendency shows that China has greater initiative to adjust and adapt to new conditions, the report said.
Global Times said Chinese companies have other alternatives, and if they go back to China, they will greatly enhance the attractiveness of the mainland and Hong Kong capital markets, creating the possibility of gradually changing the global financial landscape. (IANS/SP)
(Keywords : Wall street, China, stocks, companies, businesses, losses, regulations, prosperous, technology, authorities, delisting.)
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Sommet Education, one of the worlds leading hospitality and culinary education players, recently joined hands with the countrys premium hospitality institute, Indian School of Hospitality (ISH).
With this Sommet Education now own a 51 per cent stake in the ISH, a significant addition to the former's expansive global network. The strategic partnership allows Sommet Education to establish two of its prestigious institutions in India: Ecole Ducasse, a worldwide education reference in culinary and pastry arts, and Les Roches, one of the world's leading hospitality business schools. With this academic alliance, Ecole Ducasse will now have its first campus in India at ISH, and Les Roches will launch its undergraduate and postgraduate hospitality management programmes in the country.
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Sommet Education's belief in the Indian market and its potential to grow exponentially made the country the focal point of its development plans. As per the recent data, the Indian hospitality industry has shown a 122.9 per cent growth in RevPAR in Q3 2021 as compared to Q2 2021. The sector bounced back strongly with the relaxations in regulations over travel restrictions post the second wave of the pandemic.
During the recent meeting between Benoit-Etienne Domenget, CEO, Sommet Education and Dilip Puri, Founder & CEO, Indian School of Hospitality, both the leaders shared their future development plans for India. Two are exploring opportunities to launch a second campus, most likely to be located in Mumbai, Bengaluru, or Hyderabad. The duo also plans to set up a network of Ecole Ducasse studios in select cities across India, including New Delhi, Mumbai, and Bengaluru. These studios institutes will cater to the needs of not only hospitality aspirants but also professionals, enthusiasts, and career changers for upskilling and acquiring new skills in line with changing dynamics of the industry. Besides setting Ecole Ducasse studios in India, the expansion of the current ISH Gurugram campus is also underway. The new campus will feature an additional 25,000 sq. ft of classrooms, training kitchens, and student experience areas. This expansion will comfortably stretch the current capacity of the campus to over 500 students.
Speaking about the entering Indian market, Sommet Education CEO, Benoit-Etienne Domenget, said: "India is one of the fastest-growing countries in the world, with hospitality and tourism contributing to a large share of economic growth and employment. As a dynamic young economy, India is the perfect development platform for international education brands to invest in and expand. We are happy to partner with ISH through which enables us to provide Indian students, within the country, with globally renowned standards of hospitality, culinary and management education.
"Together, we will be able to address the industry's need for specialised talent and expertise in a better and more organised manner. Hospitality management and culinary arts aspirants in India and neighbouring countries will now be able to benefit from our combined expertise and explore international career opportunities."
The mutually benefitting collaboration aims to offer a global standard of education to a larger number of hospitality and culinary arts aspirants in the years to come in India and the neighbouring countries. While ISH has set benchmarks with its cutting-edge pedagogical approach, updated curriculum, learning techniques, faculty base, and state-of-the-art infrastructure, expansion of the campus will lay grounds for more talented students to set foot into the exciting field of hospitality and culinary arts and become future leaders who will steer the industry towards success. New facilities are under construction and will be operational by early 2022.
Commenting over the new partnership and expansion plans, ISH Founder and CEO, Dilip Puri, said: "ISH and Sommet Education joined hands for the two share similar belief system and vision of establishing entrepreneurial and developmental mindset among learners. The higher education landscape in India is rapidly transforming. In order to elevate the same to the global standards, ISH, with the help of its new partner, intends to be the pioneer of this transformation, bringing the best of industry education and opportunities from across the world to our students.
Industry demands for hospitality leaders by bringing two of the world's best brandsUnsplash
"Partnering with Sommet Education will also enable us to strengthen our academic offerings and expand our presence pan India, and in neighbouring countries, as now on we will be part of Sommet's prestigious network of 18 campuses across eight countries. We will also be able to further support industry demands for hospitality leaders by bringing two of the world's best brands in hospitality management and culinary education to India."
The current transition in the hospitality and services sector requires future leaders to be well-prepared to take on global opportunities emerging in India and abroad. This tie-up will help ISH to further expand its portfolio of programs with opportunities for students to study semesters abroad and benefit from various pathways within undergraduate and post-graduate programs throughout the Les Roches network of institutions. Students can access opportunities, including pursuing a part of the select course at Les Roches campuses in Crans-Montana, Switzerland, Marbella, Spain and Shanghai. Together the two hold a common vision of empowering learners with new-age skills to stay ahead in the robust and fast-evolving industry and aim to become the country's largest hospitality and culinary arts education player in the next three years. (IANS/PR)
Keywords: hospitality management, culinary education