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IMF: India among its 10 largest members

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Washington: The International Monetary Fund’s (IMF) historic quota and governance reforms that India, China, Brazil and Russia have become a part for the first time among its 10 largest members.

The reforms also increase the financial strength of the IMF, by doubling its permanent capital resources to SDR 477 billion (about US$659 billion) from about SDR 238.5 billion (about US$329 billion) entered into force Tuesday.

Other top 10 members 188-nation agency include the US, Japan, and the four largest European countries – France, Germany, Italy, and Britain.

The reforms represent a major step toward better reflecting in the institution’s governance structure the increasing role of the dynamic emerging market and developing countries, according to the organization’s announcement.

The entry into force of these reforms will reinforce the credibility, effectiveness, and legitimacy of the IMF, it said.

The conditions for implementing IMF’s 14th General Quota Review, which delivers historic and far-reaching changes to the governance and permanent capital of the Fund, have now been satisfied, IMF said.

The amendment to the IMF’s Articles of Agreement creating an all-elected IMF’s Executive Board (Board Reform Amendment) entered into force on Tuesday.

The quota increases under the 14th Review, which were conditional on the entry into force of the Board Reform Amendment, are expected to come into effect in the coming weeks, IMF said.

“I commend our members for ratifying these truly historic reforms,” International Monetary Fund Managing Director Christine Lagarde said.

“These reforms will ensure that the Fund is able to better meet and represent the needs of its members in a rapidly changing global environment. Today marks a crucial step forward and it is not the end of change as our efforts to strengthen the IMF’s governance will continue.”

Main outcomes of the 2010 quota reforms:

.More than 6 percent of quota shares will shift to dynamic emerging market and developing countries and also from over-represented to under-represented members.

. The quota shares and voting power of the IMF’s poorest member countries will be protected.

. For the first time, the IMF’s Board will consist entirely of elected Executive Directors, ending the category of appointed Executive Directors. Currently, the members with the five largest quotas appoint an Executive Director.

. The scope for appointing a second Alternate Executive Director in multi-country constituencies with seven or more members has been increased to enhance these constituencies’ representation in the Executive Board.

As a result, 13 constituencies including both African constituencies are currently eligible to appoint an additional Alternate Executive Director.

. Advanced European countries have committed to reducing their combined Board representation by two chairs.

. Following the effectiveness of the 14th General Review of Quotas, the focus will now turn to work on the 15th General Review of Quotas and securing the necessary broad consensus, including on a new quota formula.(IANS)(image: bnm.org)

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Adobe Photoshop on iPad Provides New Opportunities to Youngsters in India

Adobe has also made it possible to import photos directly from your SD card or USB drive into the iOS version of Lightroom

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Although Adobe Photoshop on iPad was completely done in the US, the incremental syncing part was achieved in India. IANS

Thirty years and still going strong, Adobe Photoshop remains the most loved design tool for creators and professional designers. Now, iPad lovers in India are thrilled to try their hands on the software tool and let their imaginations fly.

Photoshop on iPad allows young users to craft composites with fingers and retouch images with Apple Pencil. Your PSDs will remain the same, whether you’re working on desktop or iPad.

Adobe Photoshop that arrived on iPads globally in November brings core compositing and retouching workflows to iPad.

For the millennials, this is a great opportunity to become a creative pro as Photoshop on iPad is an intuitive, more accessible entry point to the Adobe tool for new users.

It features full PSD (Photoshop document files) interoperability, a touch-based user interface (UI), Cloud document access, and the power to work on real-world, multi-layered creations.

“We’re excited to push the frontiers of creativity to make everyone more productive and express their creative vision — not only seasoned professionals, but also the next generation of designers, photographers, filmmakers and illustrators,” Scott Belsky, Chief Product Officer and Executive Vice President, Creative Cloud, Adobe, told the gathering at the recently-concluded Adobe Max conference in Los Angeles.

Adobe
Thirty years and still going strong, Adobe Photoshop remains the most loved design tool for creators and professional designers. Now, iPad lovers in India are thrilled to try their hands on the software tool and let their imaginations fly. Pixabay

Open up full-size PSDs on your desktop or iPad and store them in the cloud – no conversion necessary.

You get the same fidelity, power, and performance no matter what device you’re working on, even when you’re designing with thousands of layers.

“Use quick gestures and touch shortcuts to make edits directly on your canvas and speed up your workflow. With context-aware user interface (UI), you display only the core tools and panes you need, so you can focus on your canvas, not the clutter,” says Adobe.

Next up is Adobe Illustrator which is slated to arrive on iPad next year. The teams at Adobe’s Noida R&D centre and Apple’s Cupertino-based headquarters in the US are busy finalizing and preparing for the final release of the much-anticipated product.

“We are already doing complete R&D for Illustrator and InDesign. The upcoming Illustrator on iPad, which has received rave reviews, is entirely being done at our Noida R&D centre,” Shanmugh Natarajan, MD and VP of Product at Adobe India, told IANS recently.

The company has previewed Adobe Illustrator’s future with a reimagined touch-based app that brings the precision and versatility of the desktop experience to iPad.

Although Adobe Photoshop on iPad was completely done in the US, the incremental syncing part was achieved in India.

Adobe has also made it possible to import photos directly from your SD card or USB drive into the iOS version of Lightroom. Previously, users had to import images to their camera roll, then copy them over into Lightroom’s library.

Adobe
Adobe Photoshop on iPad allows young users to craft composites with fingers and retouch images with Apple Pencil. Your PSDs will remain the same, whether you’re working on desktop or iPad. Pixabay

Here are the plans for Indian lovers who want Adobe experience on their iPads. The “Photography (20GB)” plan with Lightroom, Lightroom Classic, and Photoshop is available for Rs 676 a month (excluding GST). If you purchase this plan by January 31, you get Photoshop on iPad for free.

In the “Adobe Photoshop Single App” plan, get Photoshop on desktop and iPad as part of Creative Cloud for Rs 1,420.

ALSO READ: Use of Information Technology Can Save Police Personnel from Death in Line of Duty

For the “All Apps” plan, get Photoshop on desktop and iPad, plus the entire collection of creative apps for Rs 3,585.

Students and teachers can save over 60 per cent on the entire collection of Creative Cloud apps for just Rs 1,353. (IANS)