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Jobs, slowing investment, US Fed hike policy challenges: Jaitley
Washington, Oct 15 (IANS) Employment creation, the global slowdown in investments and the possible impact that the US Federal Reserves move normalise monetary conditions can have on emerging economies are three major policy challenges, Finance Minister Arun Jaitley has said.
“The risks posed to emerging markets and developing economies by the US Federal Reserve’s steps towards restoring normal monetary conditions, the global slowdown in investments and employment are the three policy challenges,” Jaitley said at a discussion here of the International Monetary and Finance Committee (IMFC), according to a statement from the Finance Ministry on Sunday.
Monetary policy tightening in the US could cause capital outflows from emerging economies affecting their current account deficit, he said.
Jaitley also said the highest priority for the government is to create new jobs as millions of young people enter the workforce every year.
“India is currently one of the few large economies in the world in the virtuous phase of its demographic transition and the most important priority of the government is to find ways to provide employment to the 12 million young people entering the workforce annually,” he said.
Jaitley, who led the Indian delegation to the annual meetings of the International Monetary Fund and the World Bank, said the short-term adverse impact of the Goods and Services Tax GST and demonetisation have been mostly overcome.
“Recent data in manufacturing sector indicate that India’s growth story is soon getting back to its normal course,” he said.
Addressing the annual meetings of the IMF and the World Bank here on Saturday, he called for urgent revision of the IMF quota in favour of dynamic emerging markets so as to reflect the ground realties of the world and hoped this could be accomplished as part of the 15th General Review of Quotas.
“There is an urgent case for revising quota shares in favour of dynamic emerging market countries in line with global economic realities to maintain fairness in the governance structure of the Fund,” he said.
“We should make every effort to complete the 15th Review by the agreed timeline of 2019 Annual Meetings,” he added.
Regarding the World Bank Group, Jaitley said the unanimously agreed Lima Roadmap had earlier envisaged a conclusion of the 2015 shareholding review by the Annual Meetings 2017.
“While we note that we failed to deliver it, given the progress that has been made so far, we strongly urge all to commit to deliver an equitable conclusion of this process for both the IBRD and IFC by the Spring Meetings 2018,” he said.
“We look for an expeditious decision on capital enhancement through both selective capital increase (SCI) and general capital increase (GCI) for both the IBRD and IFC, by Spring Meetings 2018,” he added.
The Indian Finance Minister warned that sudden reversal of monetary accommodation by advanced economies could increase policy strains in emerging markets and developing economies (EMDEs).
“The risks of growing populism and consequential loss in trade volumes will affect global recovery adversely, and it is incumbent upon all of us to foster cooperative multilateral efforts to boost fair trade practices,” he said.
–IANS
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International online casino Casino Days has published a report sharing their internal data on what types and brands of devices are used to play on the platform by users from the South Asian region.
Such aggregate data analyses allow the operator to optimise their website for the brands and models of devices people are actually using.
The insights gained through the research also help Casino Days tailor their services based on the better understanding of their clients and their needs.
Desktops and Tablets Lose the Battle vs Mobile
The primary data samples analysed by Casino Days reveal that mobile connections dominate the market in South Asia and are responsible for a whopping 96.6% of gaming sessions, while computers and tablets have negligible shares of 2.9% and 0.5% respectively.
The authors of the study point out that historically, playing online casino was exclusively done on computers, and attribute thе major shift to mobile that has unfolded over time to the wide spread of cheaper smartphones and mobile data plans in South Asia.
“Some of the reasons behind this massive difference in device type are affordability, technical advantages, as well as cheaper and more obtainable internet plans for mobiles than those for computers,” the researchers comment.
Xiaomi and Vivo Outperform Samsung, Apple Way Down in Rankings
Chinese brands Xiaomi and Vivo were used by 21.9% and 20.79% of Casino Days players from South Asia respectively, and together with the positioned in third place with a 18.1% share South Korean brand Samsung dominate the market among real money gamers in the region.
Cupertino, California-based Apple is way down in seventh with a user share of just 2.29%, overshadowed by Chinese brands Realme (11.43%), OPPO (11.23%), and OnePlus (4.07%).
Huawei is at the very bottom of the chart with a tiny share just below the single percent mark, trailing behind mobile devices by Motorola, Google, and Infinix.
The data on actual phone usage provided by Casino Days, even though limited to the gaming parts of the population of South Asia, paints a different picture from global statistics on smartphone shipments by vendors.
Apple and Samsung have been sharing the worldwide lead for over a decade, while current regional leader Xiaomi secured their third position globally just a couple of years ago.
Striking Android Dominance among South Asian Real Money Gaming Communities
The shifted market share patterns of the world’s top smartphone brands in South Asia observed by the Casino Days research paper reveal a striking dominance of Android devices at the expense of iOS-powered phones.
On the global level, Android enjoys a comfortable lead with a sizable 68.79% share which grows to nearly 79% when we look at the whole continent of Asia. The data on South Asian real money gaming communities suggests that Android’s dominance grows even higher and is north of the 90% mark.
Among the major factors behind these figures, the authors of the study point to the relative affordability of and greater availability of Android devices in the region, especially when manufactured locally in countries like India and Vietnam.
“And, with influencers and tech reviews putting emphasis on Android devices, the choice of mobile phone brand and OS becomes easy; Android has a much wider range of products and caters to the Asian online casino market in ways that Apple can’t due to technical limitations,” the researchers add.
The far better integration achieved by Google Pay compared to its counterpart Apple Pay has also played a crucial role in shaping the existing smartphone market trends.
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