'Himalayan Viagra' Dearer Than Gold under Threat from Climate Change

Agencies
October 23, 2018

Washington, Oct 23: A prized caterpillar fungus that is more valuable than gold and is nicknamed "Himalayan Viagra" in Asia, where it is seen as a wonder drug, is becoming harder to find due to climate change, researchers said on Monday.

People in China and Nepal have been killed in clashes over the years over the elusive fungus "yarchagumba”, known formally as Ophiocordyceps sinensis.

Although it has no scientifically proven benefits, people who boil yarchagumba in water to make tea or add it to soups and stews believe it cures everything from impotence to cancer.

It is "one of the world's most valuable biological commodities, providing a crucial source of income for hundreds of thousands of collectors," said the report in the Proceedings of the National Academy of Sciences, a peer-reviewed US journal.

In recent decades, it has skyrocketed in popularity and prices have soared — it can fetch up to three times the price of gold in Beijing, researchers say.

While many have suspected overharvesting was the reason for its scarcity, researchers wanted to find out more.

So they interviewed around four dozen harvesters, collectors and traders of the prized fungus.

They also scoured previously published scientific literature, including interviews with more than 800 people in Nepal, Bhutan, India and China, to understand its apparent decline.

Weather patterns, geographic factors and environmental conditions were also analyzed to create a map of yarchagumba production in the region.

"Using data spanning nearly two decades and four countries, (we) revealed that caterpillar fungus production is declining throughout much of its range," said the report.

"While collectors increasingly attribute the decline in caterpillar fungus to overharvesting, habitat and production modeling suggest that climate change is also likely playing a role."

Particular temperatures

The cone-shaped fungus is only found above an elevation of 11,500 feet (3,500 meters), and forms when the parasitic fungus lodges itself in a caterpillar, slowly killing it.

To grow, it needs a specific climate that is frigid — with winter temperatures below 0 Celsius (32 Fahrenheit) — but where the soil is not permanently frozen.

"Such conditions are typically present at the margin of permafrost areas," said the PNAS report, led by researchers at Stanford University.

"Given that winter temperatures have warmed significantly from 1979 to 2013 across much of its range, and especially in Bhutan, its populations are likely to have been negatively affected."

The warming trend has particularly affected Bhutan, with average winter temperatures "increasing by 3.5–4 C across most of its predicted habitat (+1.1 C per decade, on average)," added the study.

Researchers also found that vegetation on the Tibetan plateau "did not shift upward in response to climate warming from 2000 to 2014," suggesting that the caterpillar fungus will not be able to simply move up the mountain to colder habitats as the climate warms.

This spells trouble for harvesters who sell the fungus in order to survive, "underscoring the need for alternative livelihood options in the communities that depend on this niche commodity," researchers warned.

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News Network
January 17,2020

New Delhi, Jan 17: E-commerce major Amazon on Friday said it plans to create one million new jobs in India over the next five years through investments in technology, infrastructure and its logistics network.

These jobs are in addition to the seven lakh jobs Amazon's investments have enabled over the last six years in the country.

"Amazon plans to create one million new jobs in India by 2025," the company said in a statement, adding that the jobs - created both directly and indirectly - will be across industries, including information technology, skill development, content creation, retail, logistics, and manufacturing.

Amazon.com Inc chief Jeff Bezos had on Wednesday announced USD 1 billion (over Rs 7,000 crore) investment in India to help bring small and medium businesses online and committed to exporting USD 10 billion worth of India-made goods by 2025.

"We are investing to create a million new jobs here in India over the next five years," Bezos said.

"We’ve seen huge contributions from our employees, extraordinary creativity from the small businesses we've partnered with, and great enthusiasm from the customers who shop with us—and we’re excited about what lies ahead," Bezos added.

India has prioritised job creation and skilling initiatives – including the training of more than 400 million people by 2022 – in rural and urban areas.

"Amazon’s job creation commitment and investment in traders and micro, small and medium enterprises (MSMEs) complement this social inclusion and social mobility efforts by creating more opportunities for people in India to find employment, build skills, and expand entrepreneurship opportunities," the statement said.

The new investments will help to hire talent to fill roles across Amazon in India, including software development engineering, cloud computing, content creation, and customer support.

Since 2014, Amazon has grown its employee base more than four times, and last year inaugurated its new campus building in Hyderabad – Amazon’s first fully-owned campus outside the United States and the largest building globally in terms of employees (15,000) and space (9.5 acres).

The investments will also help in expanding growth opportunities for the more than 5,50,000 traders and micro, small, and medium-sized businesses – including local shops – through programs like Saheli, Karigar, and “I Have Space”.

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Agencies
January 20,2020

Washington D.C., Jan 20: An American bride asked for money from her invitees so that they can be on the 'exclusive guest list'.

Weddings can be surely expensive. But is it feasible for one to charge the guests to make up for the expenses?

According to Fox News, that is exactly what happened in a recent American wedding. A 19-year-old shared on Reddit that her cousin was getting married on Sunday and announced that she would charge 50 dollars to those who wanted to attend her wedding.

"She said that they can Venmo her money so there won't be no [sic] problems and everyone who paid will be added onto the 'exclusive guest list' which basically means you won't have to wait in line while other guests pay," wrote the user named DaintySheep.

While she refused to pay for entry into her cousin's wedding the bride-to-be contacted the elders in the family which ended up in an embarrassing situation.

"She wanted to get the money she spent on her special day back. I told her I wouldn't be able to come because this was outrageous and that I wish her well on her special day. She contacted my aunt and my aunt called me cheap and rude. My parents offered to pay for my entry, but I refused," continued the disheartened girl.

While in almost every nook and cranny of the world gifting the bride-groom with money is a tradition, asking for money from friends and family to replenish the money spent on a wedding is can be said to be a rare scenario.

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Agencies
June 12,2020

Mumbai, Jun 12: Following an overwhelming response for the mega rights issue of Mukesh Ambani-owned Reliance Industries, the partly paid-up rights shares are set to debut on stock exchanges on June 15.

The biggest ever Rs 53,124 crore rights issue was subscribed 1.59 times and received bids worth Rs 84,000 crore on June 3.

Reliance said the rights issue saw a huge investor interest, including from lakhs of small investors and thousands of institutional investors, both Indian and foreign.

In 2019, Ambani said in the Reliance's annual general meeting that the company will be net zero debt by March 2021. The company is on course to achieve its target ahead of the deadline.

"In spite of the COVID-19 crisis and the lockdowns, the due-diligence by Saudi Aramco for the planned investment in the O2C business is on track as both the parties are committed and actively engaged," he said recently.

"With a strong visibility to these equity infusions, Reliance is set to achieve net zero debt status ahead of its own aggressive timeline. We believe rights issue was a part of the company's strategy of deleveraging its balance sheet," said Ambani. 

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