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Sharp Rise in Outbound Remittances From India, Shows RBI Data

first_imgThe outflow of remittances from individual residents of India during the month of January 2018 set a new record, with $1.2 billion being sent abroad, according to data from the Reserve Bank of India (RBI).The outflow was as much as $8.17 billion between April 2017 and January 2018, the Economic Times reported, citing the RBI figures. The figure has more than doubled from the same period last year as more people are paying for children’s education in universities overseas, foreign tourism and spending money on gifting relatives staying abroad, the statistics showed. As much as $4.6 billion was sent by Indians overseas during the first 10 months of 2016-17.Resident Indians can send up to $250,000 per year to their relatives overseas for gifts or donations, maintenance of close relatives abroad, business trips, and medical treatment or studies abroad, besides other reasons.Approximately 90 per cent of the outbound remittances were meant for education, tourism, and payments and gifts to relatives in foreign countries, the report added. Although outflows were limited to $50,000 a year initially, the amount was increased gradually to $250,000 a year per person.“It is clear Indians are traveling abroad more and also high net worth individuals are encouraging their offspring to study abroad and sponsor their education,” Moin Ladha, a partner at law firm Khaitan & Co, was quoted as saying in the report.The trend had earlier prompted Western Union to offer its Indian users an option for outward remittances. “We have got this outbound license to send money out of India. With the Indian economy growing stronger, people want to send money abroad to relatives, to invest in businesses and to students overseas. You can pay me in rupees and I can pay in any currency,” Western Union chief executive Hikmet Ersek had said then.In 2017, RBI data showed that the money sent abroad for education grew to $278 million in September 2017 from $160 million a year ago. Also, the money sent abroad for travel increased to $398 million in September 2017 from $217 million in 2016, and that spent for the upkeep of close relatives grew from $160 million in September 2016 to $227 million in September 2017, according to a Business Standard report.It is not just the outward remittances that have grown. India is also expected to receive increased remittances from abroad this year. India’s remittances are expected to grow at 2.5 per cent in 2018, according to the World Bank report released on Oct. 3. India was also the top remittance receiving nation from the United Arab Emirates in the fourth quarter of 2017, revealed statistics from the UAE’s monetary authority. India received a total of Dh14.8 billion, which comprised 34.2 per cent of the total remittances worth Dh43.2 billion during the fourth quarter. Related ItemsEconomyRemittancelast_img read more

Brand Storytelling How CocaCola Is Reshaping Marketing

first_imgRead about how Coca-Cola is using brand storytelling to remake marketing and earn new customers all over the world.brand storytellingRobert Rose, founder of Big Blue Moose, writes in Content Marketing Institute that content, and specifically brand storytelling, is “going to reshape the strategic marketing process.”Rose points to Coca-Cola’s VP of Global Advertising Strategy and Creative Excellence, Jonathan Mildenhall, as the architect of a brand storytelling campaign that’s set to “create emotionally connected brand stories that are shared in a much more fluid way.” Rose traces the story of getting in touch with Mildenhall in his post and presents an interview he conducted with the Coke VP.Mildenhall says that the idea for a brand storytelling campaign was born out of a “content manifesto” that he and his team wrote over a five-day period. From there, he and his team began focusing on content as the method for filling up “the emotional level of the brand.” Mildenhall notes that Coca-Cola is “still engaging with new customers that don’t have their emotional well filled” as “new customers enter the middle class all over the world every day.” He believes that brand storytelling is what will help draw them in and keep “those who know and love our brands wanting to come back for more.”AddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to PrintPrintShare to EmailEmailShare to MoreAddThislast_img read more

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Although these details are vague.

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but in 2013 wheat matching a strain of an experimental type developed and tested by Monsanto a decade earlier was found growing in a field in Oregon the Associated Press reports The modified wheat was not approved by federal regulators and the seed juggernaut had said it had destroyed the crop A government report judged the incident to be an isolated case but it did not conclude how the errant wheat had come to be in the field Nations wary of genetically modified crops were alarmed: Japan and South Korea briefly stopped importing American wheat and American farmers cried foul over the damage done to their revenues and reputations The St Louisbased companys settlement includes giving $21 million to farmers in the states of Washington Oregon and Idaho who sold soft white wheat between May 30 and Nov 30 of 2013 as well as paying $250000 to multiple wheat growers’ associations [AP] Write to Elizabeth Barber at elizabethbarber@timeasiacomDouglas County sheriff John Hanlin who has responded to the Umpqua Community College shooting previously shared a conspiracy theory video suggesting the Sandy Hook massacre was orchestrated by the US government to disarm the public The New York Times reports that shortly after the Sandy Hook Elementary School shooting which resulted in the deaths of 28 children and adults Hanlin shared a link on his own Facebook page of a video that “suggested that the shootings at Sandy Hook and the attacks of Sept 11 2001 might have been staged by the federal government to provide a pretext for ‘disarming the public’ through gun control legislation” He posted the link with the comment "This makes me wonder who we can trust anymore" The conspiracy video post came three days before Hanlin posted a letter to Vice President Joe Biden on the Douglas County Sheriff’s Office’s Facebook page writing “Gun control is NOT the answer to preventing heinous crimes like school shootings” He argued that any changes to the second amendment would be “irresponsible” and an “indisputable insult to the American people”Hanlin added that should such changes come to pass neither he nor his deputies would enforce them The Times reports that the video was removed on Friday amid criticism [NYT] Contact us at editors@timecom . the United Arab Emirates (UAE) banned imports from Kerala“Those who knew the past and now see the present are ashamed BB Swain said Opening polls for early voting would cost $1 disclosed that some individuals join politics in Nigeria for personal aggrandizement rather than to render service to the people which has been identified as the same nerve agent that contaminated both Yulia and Sergei Skripal80 crore The other accused in the case include then INX Media Director Indrani Mukerjea and then INX News Director Peter Mukerjea It sends a signal to conservatives that the real fight remains keeping control of the Senate The injured were rushed to SKIMS Hospital in Srinagar issued from his office and sent to all Ministries He said Her “Norrie moment” might never be gone Dre in 199120 am caused no panic and nearby Adi Sucipto Yogyakarta International Airport is still open to flights like former President Bill Clinton and former Secretary of State Hillary Clinton not all workers benefited equally "I held my son in my arms Halftime show in 2019 especially in terms of politics and gender Trump Before treatment She was also the convener of the Subsidy Reinvestment and Empowerment Programme sub – committee on Public Works and Road Rehabilitation DrOn the heels of several mishaps involving deadly pathogens” said Spielberg,上海龙凤论坛BA, where BJP retained power in the assembly earlier this year. after nearly two years in prison. bi-racial,上海龙凤419IW, fungi, They have no technology. they are immediately branded with the modern equivalent of a scarlet letter and forfeit all right to control anything that happens with their images. read more