Has India’s Currency Ban Stopped Its Economic Momentum?

The heated debate over India’s cash ban continues, with critics saying it slowed an economy that was growing, while the government says economic momentum was barely affected.

Critics say the scrapping of 86 percent of the country’s currency last November cost India its status as the world’s fastest growing economy.

 

According to data released this week, from January to March, growth plunged to 6.1 percent – lower than China’s 6.9 percent growth in the same period.

Overall growth for the last financial year, which began in April 2016 and ended in March 2017, however, stood at 7.1 percent.

 

Finance Minister Arun Jaitley has tried to distance the disappointing economic numbers from the currency ban, citing other factors.

“There was some slowdown visible, given the global and domestic situation, even prior to demonetization in the last year,” he told reporters.

 

The slowdown affected almost all sectors of the economy, with farming, manufacturing and services all taking a hit. With people scrambling to get access to new notes, consumption slowed sharply, impacting both small shopkeepers and large businesses.

The government, however, is encouraged by forecasts that the economy is expected to recover swiftly on the back of monsoon rains, which are expected to be plentiful, and a slew of major reform measures.

 

As economists estimated growth this year will rebound to 7.4 percent, the government pointed out that India’s economy is still among the world’s top performers. Jaitley said given the global scenario, “7 to 8 percent growth, which at the moment is the Indian normal, is fairly reasonable and by global standards very good.”

There are widespread expectations of a major economic boost from India’s most ambitious tax reform action since independence – the launch of a nationwide tax that will replace a plethora of levies starting July 1.

 

The World Bank said this week the reform would lower the cost of doing business for firms and reduce logistics costs.

 

In the coming year, “we actually have very strong fundamentals of the Indian economy, GDP growth being up, exports have revived and there has been continued reform momentum,” said Frederico Gil Sander, a senior economist at the World Bank in New Delhi.

And while demonetization undoubtedly left its imprint on India by slowing down the economy, the government is optimistic there will be long-term gains because the move would help clean up an economy where many businesses and professionals evade taxes, resulting in the generation of what is known as “black money.”

 

“The message has gone loud and clear and it continues to this day that it is no longer safe to deal in cash,” said Jaitley.

 

Skeptics say only improved tax collections in the coming years will demonstrate whether that is true, or whether tax evasion remains a challenge in a country where cash transactions are the norm in large sectors of the economy.

From: MeNeedIt

Stars Added to Grande’s Manchester Concert

The Black Eyed Peas and Robbie Williams will join Ariana Grande, Justin Bieber and other stars at a charity concert Sunday in Manchester, England.

Live Nation said Thursday that girl group Little Mix had also been added to the show being held in response to the Manchester bombing that took place at Grande’s concert in the city last week. Twenty-two people died at the show.

Katy Perry, Coldplay, Miley Cyrus, Pharrell Williams, Take That and Niall Horan also will perform. The event, “One Love Manchester,” will take place at Emirates Old Trafford.

Tickets went on sale Thursday. Proceeds will go to an emergency fund set up by the city of Manchester and the British Red Cross.

From: MeNeedIt

Investors Pick Tesla’s Promise Over GM’s Steady Profits

When General Motors CEO Mary Barra introduced the Chevrolet Bolt at the CES gadget show last year, she took a shot at Tesla.

Buyers can be confident because Chevy has 3,000 U.S. dealers to service the new electric vehicle, she said. The implication was that Tesla, with just 69 service centers nationwide, can make no such promise.

 

The uncharacteristic insult from Barra was designed to highlight the difference between 108-year-old GM and Tesla, a disruptive teenager. It also acknowledged a budding rivalry that could help determine whether Detroit or Silicon Valley sets the course for the future of the auto industry.

The tale of the tape favors GM. It has made billions in profits since returning to the public markets in 2010. GM got the Bolt, a $36,000 car that goes 238 miles per charge, to market before Tesla’s Model 3. Tesla, the 14-year-old company led by flamboyant CEO Elon Musk, has never posted an annual profit.

 

Yet, as both CEOs face shareholders for annual meetings Tuesday, it is Barra who must explain to skeptical investors why GM’s future is as bright as Tesla’s.

 

GM’s stock is trading around the $33 price of its initial public offering seven years ago. During that time, Tesla shares have soared more than tenfold to $335. Wall Street now values Tesla at about $55 billion, compared to around $50 billion for GM.

 

Despite efforts to paint themselves as technology companies, automakers can’t shake their giant, capital-intensive global manufacturing operations. The huge investment needed to build vehicles yields low profit margins compared with tech companies that make software or cell phones, says Michael Ramsey, an analyst with Gartner. GM’s net profit margin in 2016 was 5.7 percent. By comparison, Alphabet Inc., parent of Google, had a 22 percent margin.

 

Although it’s an automaker, Tesla started in the tech bucket and remains there in the eyes of investors and buyers, Ramsey says.

 

Tesla’s electric cars are the envy of the industry, and its semi-autonomous technology is among the most advanced on the road. Musk says Tesla’s California assembly plant – which used to be GM’s – will soon be among the most efficient in the world. And it’s branching into areas with potential for bigger returns, including solar panels, energy storage and trucking.

Tesla is absurdly overvalued if based on the past, but that’s irrelevant. A stock price represents risk-adjusted future cash flows,” Musk tweeted in April.

 

Still, Musk can’t risk any missteps as Tesla pivots from a niche manufacturer of 84,000 high-priced cars per year. The Model 3 sedan, Tesla’s first mainstream car, is due out later this year, but previous launches have been plagued with delays. Tesla has yet to prove it can build high-volume vehicles with quality and reliability, as GM does. Musk aims to make 500,000 vehicles per year in 2018; GM made more than 10 million cars and trucks last year.

GM, too, is stretching into new areas. Its Maven car-sharing service has 35,000 members in 17 North American cities, and it’s providing cars for ride-hailing services. GM is developing autonomous cars with Cruise Automation, a software company purchased last year. Its SuperCruise semi-autonomous driving system, due out this year, is designed to be safer than Tesla’s.

 

And GM isn’t the only automaker with a stagnant stock price. Of the seven best-selling carmakers in the U.S., only Toyota and Fiat Chrysler have seen significant growth in seven years. Ford, Honda and Hyundai all have lost value.

 

“Investors and the financial markets are much more interested in investing in the potential of what might be huge than in the reality of what’s already profitable and likely to remain so for years to come,” says Sam Abuelsamid, a senior analyst with Navigant Research.

 

Abuelsamid says GM could better trumpet its technology achievements. For instance, it scarcely markets the Bolt. By contrast, Musk builds hype with nightclub-like events for Tesla owners and Twitter banter with 8.8 million followers.

 

“The only way you can get people to perceive you in the same light as a company like Tesla is to demonstrate it,” Abuelsamid says.

 

Musk is crucial to Tesla’s success. The risk-taking billionaire founded PayPal and rocket company SpaceX before taking over Tesla. He espouses big ideas like Hyperloop high-speed transportation and colonizing Mars.

 

Barra, on the other hand, is a methodical engineer who rarely strays from script. She has only 29,500 Twitter followers. She’s a GM lifer who earned a company-paid MBA from Stanford; Musk left a Stanford graduate physics program after just two days to form a publishing startup.

 

“Mary is like a normal high-level performing executive,” Ramsey says. “Elon Musk is like an almost unrivaled superstar, even in comparison to Silicon Valley executives.”

 

Still, the big changes in the auto industry are in the early stages. Electric vehicles make up less than 1 percent of global auto sales and fully self-driving cars are years away. The economy can falter and company fortunes can shift. Already this year, sales in the U.S. and China are slowing, and GM pulled out of the European and Indian markets because they weren’t profitable.

 

GM knows the ups and downs of auto sales, but Tesla will have to learn to manage them. If the Model 3 is late and Tesla sales fall, its stock price could drop and reduce Tesla’s access to cheap capital, Ramsey says.

 

“I don’t think they’re completely immune to economic cycles,” he says. “That will be when we really know if Tesla can maintain this out-of-whack share value with their fundamentals.”

From: MeNeedIt

It’s a Girl? Venus Williams Opens up on Serena’s Baby

Venus Williams may have revealed the gender of sister Serena Williams’ baby during a post-match interview at the French Open this week.

When asked by Eurosport what the baby will call her, Venus replied, “she’s going to call me favorite aunt.” She added that she and her other sisters are pushing for the child to be named after them.

 

Serena Williams announced her pregnancy with Reddit co-founder Alexis Ohanian in April, but didn’t hint at the baby’s gender.

 

Venus Williams defeated Kurumi Nara, with Serena looking on from the stands Wednesday. She takes on Elise Mertens in the third round of the French Open on Friday.

 

 

From: MeNeedIt

Cargo Ship Soon Headed to Space Station Is Being Recycled

SpaceX is taking recycling to a whole new realm — all the way to orbit.

On this week’s supply run to the International Space Station, SpaceX will launch a Dragon capsule that’s already traveled there. The milestone comes just two months after the launch of its first reused rocket booster for a satellite.

“This whole notion of reuse is something that’s very, very important to the entire space industry,” NASA’s space station program manager Kirk Shireman said at a news conference Wednesday.

While the concept is not new — the space shuttles, for instance, flew multiple times in orbit — it’s important for saving money as well as technical reasons, he noted.

New shield, parachutes

This particular Dragon flew to the station in 2014. SpaceX refurbished it for Thursday evening’s planned launch, providing a new heat shield and fresh parachutes for re-entry at mission’s end. There were so many X-rays and inspections that savings, if any, were minimal this time, said Hans Koenigsmann, vice president of flight reliability for SpaceX.

For this trip, the Dragon is packed with 6,000 pounds of station cargo, including mice and flies for medical research.

While the Falcon booster to be used this time is new, SpaceX will attempt to land it at Cape Canaveral following liftoff so it, too, can be reused. So far, first-stage boosters have flown back and landed vertically four times on the designated X at the Air Force station; even more touchdowns have occurred on ocean platforms, all part of an effort to save time and money.

The private SpaceX and NASA are discussing the possibility of flying a reused booster on an upcoming delivery mission.

Dragons for astronauts

Koenigsmann told reporters more and more reused capsules will carry cargo to the space station, each possibly flying three times. Dragon capsules are being developed to carry astronauts to the space station as early as next year; it’s too soon to say whether those, too, will be recycled, he said.

Wednesday marked the fifth anniversary of the return of the first Dragon capsule to visit the space station. This will be the 12th Dragon visit overall and the 11th under NASA contract. The Dragon is the only unmanned supply ship that returns to Earth; the others are filled with trash and burn up on re-entry.

And by SpaceX’s count, this will be the 100th launch from NASA’s historic Launch Complex 39-A at Kennedy Space Center. It’s the same spot from which men flew to the moon and shuttles soared until their retirement in 2011. SpaceX is leasing the pad from NASA.

Fairly good weather is forecast for the 5:55 p.m. EDT liftoff.

Two of the space station’s five residents, meanwhile, are scheduled to return to Earth on Friday via a Russian Soyuz capsule. A Russian and Frenchman will be headed home, leaving two Americans and one Russian in orbit.

From: MeNeedIt

Big Data Maps India’s Human Traffic Hot Spots

An Indian charity is using big data to pinpoint human trafficking hot spots in a bid to prevent vulnerable women and girls vanishing from high-risk villages into the sex trade.

My Choices Foundation uses specially designed technology to identify those villages that are most at risk of modern slavery, then launches local campaigns to sound the alarm.

“The general Indian public is still largely unaware that trafficking exists, and most parents have no idea that their children are actually being sold into slavery,” said Elca Grobler, the founder of My Choices Foundation.

“That’s why grass-roots awareness and education at the village level is so important to ending the human traffic trade,” Grobler said in a statement released late Tuesday.

The analytics tool — developed by Australian firm Quantium — uses a range of factors to identify the most dangerous villages.

It draws on India’s census, education and health data and factors such as drought risk, poverty levels, education and job opportunities to identify vulnerable areas.

Red alert

There are an estimated 46 million people enslaved worldwide, with more than 18 million living in India, according to the 2016 Global Slavery Index. The Index was compiled by the Walk Free Foundation, a global organization seeking to end modern slavery.

Many are villagers lured by traffickers with the promise of a good job and an advance payment, only to find themselves or their children forced to work in fields or brick kilns, enslaved in brothels and sold into sexual slavery.

Almost 20,000 women and children were victims of human trafficking in India in 2016, a rise of nearly 25 percent from the previous year, according to government data.

While India has strengthened its anti-trafficking policy in recent years, activists say a lack of public awareness remains one of the biggest impediments.

In 2014, My Choices Foundation launched “Operation Red Alert,” offering educational programs to inform parents, teachers, village leaders and children about traffickers.

But with more than 600,000 villages across India and limited resources, the charity teamed up with Quantium to build the new data tool and use methods old and new to fight the criminals.

“We are helping to banish human trafficking, one village at a time, through a combination of highly sophisticated technology and grass-roots … education,” said Grobler.

From: MeNeedIt

Journal Letter Written in 1980 Helped Fuel Opioid Epidemic

Nearly 40 years ago, a respected doctor wrote a letter to the New England Journal of Medicine with some very good news: Out of nearly 40,000 patients given powerful pain drugs in a Boston hospital, only four addictions were documented.

Doctors had been wary of opioids, fearing patients would get hooked. Reassured by the letter, which called addiction “rare” in those with no history of it, they pulled out their prescription pads and spread the good news in their own published reports.

And that is how a one-paragraph letter with no supporting information helped seed a nationwide epidemic of misuse of drugs like Vicodin and OxyContin by convincing doctors that opioids were safer than we now know them to be.

On Wednesday, the journal published an editor’s note about the 1980 letter and an analysis from Canadian researchers of how often it has been cited — more than 600 times, often inaccurately. Most used it as evidence that addiction was rare, and most did not say it concerned only hospitalized patients, not outpatient or chronic pain situations such as bad backs and severe arthritis that opioids came to be used for.

‘Key bit of literature’

“This pain population with no abuse history is literally at no risk for addiction,” one citation said. “There have been studies suggesting that addiction rarely evolves in the setting of painful conditions,” said another.

“It’s difficult to overstate the role of this letter,” said Dr. David Juurlink of the University of Toronto, who led the analysis. “It was the key bit of literature that helped the opiate manufacturers convince front-line doctors that addiction is not a concern.”

Hospital databases were so limited in 1980 that researchers can’t be confident there weren’t more problems, or cases discovered after patients were discharged, Juurlink said.

The letter was written by Dr. Hershel Jick, a drug specialist at Boston University Medical Center, and a graduate student.

“I’m essentially mortified that that letter to the editor was used as an excuse to do what these drug companies did,” Jick told The Associated Press in an interview Wednesday. “They used this letter to spread the word that these drugs were not very addictive.”

Jick said his letter referred only to people getting opioids in the hospital for a short period of time and had no bearing on long-term outpatient use. He also said he testified as a government witness in a lawsuit years ago over the marketing of pain drugs.

Use grew in the 1990s when drugs like OxyContin came on the market, and more people using opioids for chronic pain developed dependence.

New note

The new editor’s note in the journal says: “For reasons of public health, readers should be aware that this letter has been ‘heavily and uncritically cited’ as evidence that addiction is rare with opioid therapy.”

The journal’s top editor, Dr. Jeffrey Drazen, said, “People have used the letter to suggest that you’re not going to get addicted to opioids if you get them in a hospital setting. We know that not to be true.”

The journal also published a report from Dr. Francis Collins, director of the National Institutes of Health, and Dr. Nora Volkow, head of the National Institute on Drug Abuse, pledging to work to develop new ways to reverse and prevent overdoses, to treat addiction, and to find novel, nonaddictive drugs for chronic pain.

In the next six weeks, NIH will hold three workshops with drug company leaders to identify next steps, Collins said. The goal is to cut in half the usual amount of time to develop new treatments — a target borrowed from the Cancer Moonshot project launched by former Vice President Joe Biden to make a decade’s worth of progress toward cures in half that time.

Other partnerships

Details have not been worked out, but it could resemble similar partnerships on Alzheimer’s, diabetes and some other diseases where scientists from government and industry determine pressing needs, develop a work plan and split the cost, Collins said.

“Industry’s interest in this has been muted until recently,” Collins said. Now, “they feel the responsibility and the opportunity to take part in this and they’re not going to stand back and watch.”

With the Food and Drug Administration wanting to speed work on new pain drugs, “the stars are aligning,” Collins said. “I think we can make real progress now.”

From: MeNeedIt

Tech Show Displays Ways VR, AI Edging into People’s Lives

Inside the sprawling Acer stall at Computex Taipei, Asia’s largest tech show, staff displayed a laptop computer that’s ready for virtual reality play yet thinner than most PCs for gaming.  At the same exhibition, the Taiwanese tech hardware maker showed how its internet cloud uses artificial intelligence to predict what customers will do when shopping and allow the shop to make decisions accordingly.

VR and AI usher in a new world of technology

Acer was riding two major new themes at the annual show: virtual reality, often abbreviated to VR, and artificial intelligence, or AI.

Demand from gamers, a lucrative market of people willing to pay more than $10,000 for a personal computer (PC), is driving the VR side, compelling Acer and its peers to install new lines of processors that support immersive, 3D play with headgear and hand controls.

“You can see that the company is moving into more gaming centric, VR, new experience innovation,” said Vincent Lin, senior director of Acer’s global product marketing. “Not all gaming notebooks or not all notebooks are VR ready. There are certain requirements needed to be VR ready. VR, certainly it’s a growth area. It’s supposed to like grow five times or something over next 3 years.”

Revenue is forecast to rise quickly

Silicon Valley investment advisory firm Digi-Capital forecasts a surge in global revenue from $20 billion this year to $108 billion in 2021 in virtual reality technology and a similar technology known as augmented reality. 

The anticipation of growth inspired 60 Computex exhibitors to show games, gear or PCs that support virtual reality. The technology that first popped into public view in the 1980s is normally aimed now at computer gamers, though scientific researchers have used VR as well as the related augmented reality to model processes they can’t duplicate in real life. 

Near Acer’s stall, Computex visitors donned thick, black head-mounted goggles to race cars or fire at things, yelling in excitement through the dimly lit booths as they tested new products. 

PCs will be thinner, quieter and quicker to support VR

Developers were excited about Nvidia’s newly announced graphics processors that are designed to make PCs thinner and quieter. They also noticed the seventh update of Intel’s Core i5 processor, which stands to make PCs faster.

At one stall, Hong Kong developer Zotac showed off backpacks that can hold a gamer’s VR hardware system to prevent any tripping over wires – which might happen to someone immersed in a 3D scenario and unable to see the real floor.

“Right now the way the virtual reality equipment is made, you’re tethered to a system. That means you have to worry about tripping over cables, wrapping them around yourself as well,” Zotac product marketer Buu Ly said. “With our VR backpack, that removes those barriers so you are more free to experience VR the way it was supposed to be experienced.”

AI attracting much interest this year

Artificial intelligence also made its way into the show, where about 1,600 exhibitors occupied 5,010 booths, this year as companies test a relatively new technology that teaches computers to make decisions based on patterns they detect through analysis of user commands. 

Voice-activated assistants on mobile phones use artificial intelligence by searching the phone for requested information, even sending commands across apps to get answers.

Computex organizers have not tallied the number of exhibitors showing AI technology, but analysts in Taipei say a number are pursuing servers that can speed up development of AI functions allowed by the likes of Nvidia’s Jetson TX computer processing module.

With a compound annual growth rate of 63 percent from 2016 to 2022, the artificial intelligence market should be worth $16.06 billion by 2022, according to forecasts by the research firm Markets and Markets.

“AI has caught much of the spotlight in various exhibitions around the world and has become one of major deployment highlights for many companies in recent years,” said Ray Han, industry analyst with the Marketing Intelligence & Consulting Institute in Taipei. “The next battlefield will lie on platforms or chips.”

Internet of things

One contender is Socionext, a Japanese developer that has developed a processor partly for AI and the Internet of things, or IoT, which means using phones or PCs to control other electronic objects. Five customers are evaluating whether to install the chip, said Fumitaka Shiraishi, a Socionext business project management group member. 

“Our chip is a processor chip, so not too specific for AI but also suitable for AI because of the low power,” Shiraishi said. 

Artificial intelligence can help the Internet of things by picking the most relevant points from vast fields of data collected.

“In the future five years, I think IoT devices also need to judge some information — not just sensing,” Shiraishi said. 

From: MeNeedIt

New Graphene Water Filter Makes Salt Water Drinkable

The United Nations predicts that by 2025 nearly two billion people will be living in places where there’s not enough water to go around. And since on average water makes up about 60% of the human body, not having it has a host of devastating effects that go way beyond just being thirsty. That’s why some new technology to turn saltwater into drinkable water holds so much promise, VOA’s Kevin Enochs reports.

From: MeNeedIt

Forget Butterfly Nets; Today’s Naturalists Capture Specimens on Phones

Your smartphone can help scientists keep tabs on changes happening in the natural world. More than one hundred thousand citizen scientists around the globe are snapping pictures of all kinds of plants and animals using the iNaturalist app. It is giving researchers an unprecedented amount of information about what lives where, and how that is changing with humanity’s expanding footprint. Steve Baragona has details.

From: MeNeedIt

Thailand Economy Back on Track But in Slow Lane

The Thai economy, under the military’s stewardship for the past three years, is again witnessing steady growth but lags behind regional competitors as uncertainties remain, keeping foreign investors at bay.

The World Bank and United Nations (UN) say the Thai economy is in a slow growth lane compared to regional rivals, with a projection of over 3.0 percent growth between 2017 to 2019.

The UN’s Economic and Social Commission for Asia and the Pacific (UNESCAP) says the Thai growth outlook stands in contrast to Cambodia’s economy, which is set for 8 percent growth in 2018, Malaysia at 4.5 percent, the Philippines at 7.0 percent and Vietnam at 6.7 percent.

‘Slow’ economic growth in Thailand

A slow revival has been underway since 2016, in contrast to a sharp downturn in 2014 in the midst of political street demonstrations against the government of Yingluck Shinawatra, which eventually triggered a coup.

Three years later recovery has returned, with first quarter 2017 growth at 3.3 percent, and business analysts saying the trend will be sustained.

Krystal Tan, Asia economist with analysts, Capital Economics, said the recovery will continue. “For a start the export sector will benefit from relatively string external demand,” Tan said in a market commentary.

Capital Economics said the “current state of relative political calm” since late 2016 was providing support in areas such as tourism. The UN Economic Commission (UNESCAP) in a recent annual survey said the Thai economy “after years of uneven output growth record” regained momentum in 2016.

UN economists said the key contributors were “robust tourism revenue” as well as government fiscal and budget measures through soft loans and tax breaks for farmers.

Military control, political uncertainty

But economists also say the unsettled political environment has undermined progress in economic reform and strengthening the competitiveness of Thai industries.

Pavida Pananond, an associate professor of international business at Thammasat University, said the economy has under-performed over the past three years.

“It’s not declining, but it’s not going anywhere. In three years the economy under the coup government has not improved much and now faces new risks that comes from the political situation of Thailand,” Pavida told VOA.

The Bank of Thailand, in its latest assessment for the March quarter, was upbeat. “Private consumption accelerated thanks to an increase in spending on durable goods, as supported by higher farmer income and greater overall consumer confidence,” the Bank said.

But the economy’s “main driver” was still government spending, while private investment contracted in the March quarter, marking a reversal of previous periods.

But Asian Development Bank (ADB) senior country economist Luxmon Attapich was positive recent gains would continue.

“A sustained recovery in major economies, robust domestic consumption, and the continued implementation of large public infrastructure projects are the key reasons for (the ADB’s) projection,” Luxmon told local media.

Thailand’s national assembly recently accepted a new constitution, setting the way for new elections in 2018.

But analysts say a 250 member military-appointed Senate, including representatives from the armed forces along with pro-military political parties in the House of Representatives, will continue to hold sway and are in a position to elect the next prime minister.

Cautious private investors

Thailand has been torn apart by political conflict over the past 16 years as populist parties, led by deposed Prime Minister Thaksin Shinawatra, have challenged an establishment centered on Bangkok’s urban middle class, military and bureaucracy.

Pavida Pananond said Thailand’s political conflicts have yet to be reconciled despite the military’s calls for reform, leaving the added risk of Thai political instability.

“Everyone knows that without the military, the conflicts and everything is still there. Without the guns all this conflict would rise up again. So foreign investors know that political instability is still there. The root causes have not really been addressed; reform or reconciliation have not really taken place where it should be,” she said.

The military, in a bid to resolve issues of wide gaps in income and also to raise its popularity, has been promoting “grass-roots” economic stimulus programs.

The government’s Pracha Rath project has looked to link local village communities with major regional department stores to offer products and boost local incomes.

But analysts say the government has fallen short in pressing ahead with business reforms as part of its promoted vision towards a digitally advanced economy.

The military is maintaining a tight grip over the media and social media, including a crackdown on the social media website Facebook, amid official concerns over commentary on the Thai Royal Family.

Pavida said the attempts to block Facebook or seek out and warn people who view prohibited social media content sends “alarming signals to investors,” especially those focused on progress in the Thai digital economy.

 

 

From: MeNeedIt

Zimbabwe Tobacco is Booming, but Farmers Growing it Are Not

Farmer Simon Kahari recently sold tobacco worth more than $6,000 at an auction in Zimbabwe, a small fortune reflecting the golden leaf’s resurgence in this southern African country. Yet because of Zimbabwe’s dire economic problems he ended up sleeping in an auction house toilet that night, hungry and wondering if and when he would be able to access his earnings.

“I don’t have any money for food or anything,” Kahari said. “I came here expecting to be paid, so now I will have to borrow.”

 

Many of Zimbabwe’s tobacco farmers share the same plight during the ongoing selling season of the crop, Zimbabwe’s second biggest earner after gold. While exported tobacco rakes in hundreds of millions of dollars, small-time farmers feel left out of the lucrative cycle.

 

A cash shortage that underlines the country’s deepening economic woes has left farmers who travel long distances to auctions unpaid, stranded and desperate.

 

Farmers like Kahari are not paid in cash because of the currency shortage. But they need the money because much of Zimbabwe, especially rural areas where there is little infrastructure, is a cash-based society.

 

Instead, their earnings are deposited into accounts that they must open at bank branches at the auction houses. Then the farmers must stick around for weeks, hoping for the daily withdrawal limit of $100 but often getting no more than $50.

 

Meanwhile, tobacco sales have jumped 30 percent from last year, earning $300 million so far, according to the country’s Tobacco Industry Marketing Board.

 

President Robert Mugabe and many in his government point to rebounding tobacco production as justification for often violent land seizures years ago. Many tobacco farmers were resettled on farms forcibly taken from whites, 20 years after Zimbabwe became independent from white minority rule in 1980.

 

Mugabe’s deputy, Emmerson Mnangagwa, said this month that tobacco sales mean “the cake is now spread to ordinary families in the countryside,” but many distressed people at a tobacco sales floor wore torn clothes. On May 4, police fired tear gas to disperse tobacco farmers protesting non-payment and hazardous living conditions at auction floors.

 

“Relax. It has been three weeks for me and I am still here,” Luckson Mutaya told fellow farmer Kahari, who appeared fidgety after waiting only several hours.

 

He advised Kahari on a few basics, especially the need to hold a place in one of the toilets to avoid enduring the cold night in the open.

 

“Oh, and you have to write down all the essential phone numbers. Very soon you won’t be having that phone,” Mutaya added, puffing a large cigarette of tobacco leaves rolled in an old newspaper. He cannot afford processed cigarettes selling for 10 cents each.

 

Mobile phones and national identity cards are the new currency as farmers taking food on credit surrender their phones and identity cards as security to vendors.

 

One food seller, Maria Mandebvu, complained that farmers leave without paying their bills and recalled happy years when farmers were paid cash on the spot. Then, the auction floors transformed into one huge bazaar, with traders hustling anything from cars to solar panels, beds, alcohol and sex.

 

Dozens of traders are still camped there this year. Music blares from makeshift wooden and plastic stalls. But no one is dancing. On the auction floor, business is hectic as buyers swiftly go through rows of tobacco bales, negotiating prices.

 

By 10 p.m. the male and female toilets are fully occupied by farmers deep in sleep.

 

Nearby, breastfeeding mothers and children squeeze next to male strangers in the open on parched grass and tarmac. Some sleep on top of steel storage shipping containers, others on stairs and conveyor belts.

 

“The country is making money from our tobacco, we deserve some dignity,” said Lloyd Muponda, who traveled 300 kilometers (186 miles) to sell his crop two weeks ago.

 

Joseph Made, the agriculture minister, said his office is negotiating with the finance ministry to ease the farmers’ plight. It may be too late for 78-year-old Agnes Hanja, who badly needs cash to pay off debts and laborers back home.

 

“I will not grow tobacco again,” Hanja said. “This is dehumanizing.”

 

 

From: MeNeedIt