Canada makes Marijuana legal

Agencies
October 18, 2018

Montreal, Oct 18: When Canada legalizes recreational pot on Wednesday, market watchers predict the birth of a new industry -- creating thousands of jobs, investor euphoria, a new tax source for governments and maybe even tourism.

Hundreds of licensed growers have sprouted in anticipation of the end of pot prohibition, attracting major investment.

In just the past year, the market capitalization of firms including Canopy Growth and Tilray has increased fivefold, to a total of more than US$10 billion on the New York stock market.

And with significant know-how gained since Canada's legalization of medical marijuana in 2001, others including Aurora and Aphria are making inroads abroad as more and more foreign markets allow therapeutic cannabis use and research.

Beverage makers and pharmaceutical companies are also partnering in the sector, hoping to develop new products infused with THC or cannabidiol (CBD).

Constellation Brands, the North American distributor of Corona beer and Robert Mondavi wine, recently invested about Can$5 billion ($3.8 billion US) in Canopy Growth for a 38 per cent stake in the company.

And soft drinks giant Coca-Cola is looking into using CBD, the non-psychoactive molecule in cannabis believed to provide health benefits, as an ingredient in some drinks.

Experts like John-Kurt Pliniussen, a marketing professor at Queen's University in Kingston, Ontario, are also predicting a bump in tourism worth several billion dollars, citing as examples Amsterdam and a handful of US states where pot is legal.

"The same can happen in Canada, because one of the things we have going for us and that no other country in the world has, is the name of our country -- it is almost spelt very similar to cannabis," Pliniussen told AFP.

"And so you could have Canatourism -- from a marketing point of view, it lends itself very well."

In the meantime, an investor frenzy is fueling mergers and acquisitions, with 48 deals worth a total of Can$5.2 billion announced in the first six months of this year alone, according to Price Waterhouse Cooper (PwC).

The consolidation will continue after legalization, says PwC, as an "expected oversupply takes its toll and forces undercapitalized players into bankruptcy" and firms "look to fuel further growth by tapping emerging foreign medical markets."

There are untold economic spinoffs to be had, for sure.

Tokyo Smoke -- a reinvention of the classic coffee shop -- promotes cannabis lifestyle, selling pipes, infusers and other pot paraphernalia along with shots of espresso (but not cannabis itself).

The three-year-old company was purchased for Can$500 million last month by Canopy Growth and plans to expand nationwide from five locations in Toronto.

"I think Canada will become a world leader in cannabis -- it's exciting and something we can be proud of," Tokyo Smoke vice president Josh Lyon told AFP.

"Legalization will open the doors to a dynamic, sophisticated industry that will create new jobs, new opportunities for businesses, and new revenues for the government," echoed Deloitte in a report.

Nearly five million Canadians or 16 per cent of the population consumed 773 tonnes of cannabis in 2017, mostly for recreation, paying an estimated Can$5.5 billion to buy bud, according to the government statistics agency.

The number of consumers is expected to increase slightly after legalization, but spending is predicted to remain the same, Statistics Canada said in a recent report.

Further growth is expected from derivative products like edibles, cosmetics and e-cigarette products containing the pot, which will be allowed starting in 2019.

But there is disagreement among forecasters on just how much of a boost the new industry could give Canada's economy.

According to the TD Bank, cannabis will push up economic growth 0.9 percentage points in the fourth quarter to hit 2.9 per cent.

But the government statistics agency expects the new cannabis industry to have at best a "minimal impact" on growth in Canada.

And according to Benoit Durocher, a senior economist with Desjardins Bank in Montreal, it will be a drop in the bucket for this G7 nation's massive and highly diversified economy.

"Given the small size (of the sector) relative to overall GDP (which is close to Can$2 trillion), the impact on growth will be very small or no impact at all," Durocher said.

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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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News Network
March 13,2020

Bengaluru, Mar 13: In the wake of fresh cases of Covid-19 reported in Karnataka, Infosys Foundation chairperson Sudha Murty has urged the Karnataka government to take steps to shut malls and theatres, saying the coronavirus multiplies in air-conditioned areas.

In a letter to the government, she said preventive measures should be taken to control the spread of coronovirus before it gets worse.

Murty, who also leads the State government-constituted Karnataka Tourism Task Force, said she has discussed the current situation with Chairman and Executive Director of Narayana Health, Devi Prasad Shetty.

She suggested closure of all schools and colleges with immediate effect, malls, theatres and “all air-conditioned areas where the virus multiplies”, and allow only essential services like pharmacy, grocery and petrol bunks.

“It is not scientifically proven that the virus dies in high temperature,” she said pointing to spread of the virus -- despite heat -- in peak summer in Australia and Singapore, which have “summer all 12 months”.

“I request you to vacate one government hospital with at least 500 - 700 beds for this purpose (to deal with coronavirus cases), which requires oxygen lines and pipes,” she said.

“Infosys Foundation, the philanthropic and CSR arm of software major Infosys, would do the civil work and Devi Shetty has agreed to share resources like medical equipment,” she added.

“We would like to work with the government proactively so that we can prevent this as early as possible,” Sudha Murty said.

The total number of confirmed coronavirus positive cases in Karnataka is five, including the 76-year old man from Kalaburagi who died on Tuesday night.

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Agencies
February 27,2020

Feb 27: With the window to submit comments on India's proposed personal data protection law closing on Tuesday, a period of anxious wait for final version of the Bill started for social media firms.

This comes even as global Internet companies have called on the government for improved transparency related to intermediary Guidelines (Amendment) Rules and allay fears about the prospect of increased surveillance and prompting a fragmentation of the Internet in India that would harm users.

As per the proposed amendments, an intermediary having over 50 lakh users in the country will have to be incorporated in India with a permanent registered office and address.

When required by lawful order, the intermediary shall, within 72 hours of communication, provide such information or assistance as asked for by any government agency or assistance concerning security of the state or cybersecurity.

This means that the government could pull down information provided by platforms such as Wikipedia, potentially hampering its functioning in India.

In the open letter to IT Minister Ravi Shankar Prasad, leading browser and software development platform like Mozilla, Microsoft-owned GitHub and Cloudflare earlier called for improved transparency by allowing the public an opportunity to see a final version of these amendments prior to their enactment.

According to a Business Insider report, Indian users may lose access to Wikipedia if the new intermediary rules for internet and social media companies are approved.

Since the rules would require the website to take down content deemed illegal by the government, it would require Wikipedia to show different content for different countries.

Anusha Alikhan, senior communications director for Wikimedia told Business Insider that the platform is built though languages and not geographies. Therefore, removing content from one country, while it is still visible to other country users may not work for the company’s model.

India is one of Wikipedia’s largest markets. Over 771 million Indian users accessed the site in just November 2019.

Also read: Explained: What is the Personal Data Protection Bill and why you should care

The Personal Data Protection Bill, 2019, which was introduced in Lok Sabha in the winter session last year, was referred to a Joint Parliamentary Committee (JPC) of both the Houses.

The government last month decided to seek views and suggestions on the Bill from individuals and associations and bodies concerned and the last date for submitting the comments was on Tuesday.

Prasad, while introducing the Personal Data Protection Bill, 2019, in the Lok Sabha on December 11, announced that the draft Bill empowers the government to ask companies including Facebook, Google and others for anonymised personal data and non-personal data.

There was a buzz when the Bill's latest version was introduced in the Lok Sabha, especially the provision seeking to allow the use of personal and non-personal data of users in some cases, especially when national security is involved.

Several legal experts red-flagged the issue and said the provision will give the government unaccounted access to personal data of users in the country.

In their submission to the JPC, several organisations also flagged that the power to collect non-personal and anonymised data by the government without notice and consent should not form part of the Bill because of issues regarding effective anonymisation and potential abuse.

"Clauses 35 and 36 of the Bill provide unbridled access to personal data to the Central Government by giving it powers to exempt its agencies from the application of the Bill on the basis of various broad worded grounds," SFLC.in, a New Delhi-based not-for-profit legal services organisation, commented.

The Software Alliance, also known as BSA, a trade group which includes tech giants such as Microsoft, IBM and Adobe, among others said that the current version of the privacy bill pose substantial challenges, including the sweeping new powers for the government to acquire non-personal data, restrictions on data transfers, and local storage requirements.

"We urge the Joint Parliamentary Committee, as it considers revisions to the Bill, to eliminate provisions concerning non-personal data from the Personal Data Protection Bill and to remove the data localisation requirements and restrictions on international data flows," said Venkatesh Krishnamoorthy, Country Manager-India, BSA.

The Personal Data Protection (PDP) Bill, 2019 draws its origins from the Justice B.N. Srikrishna Committee on data privacy, which produced a draft of legislation that was made public in 2018 ("the Srikrishna Bill").

The mandatory requirement for storing a mirror copy of all personal data in India as per Section 40 of the Srikrishna Bill has been done away with in the PDP Bill, 2019, meaning that companies like Facebook and Twitter would be able to store data of Indian users abroad if they so wish.

But the bill prohibits processing of sensitive personal data and critical personal data outside India.

What is more, what constitutes critical data has not been clearly defined.

As per the proposals, social media companies will have to modify their application as they are required to have a system in place by which a user can verify themselves.

So legal experts believe that some system to upload identification documents should be there and something like the Twitter blue tick mark should be there to identify verified accounts.

"The 2019 Bill introduces a new category of data fiduciaries called social media intermediaries ('SMIs'). SMIs are a subcategory of significant data fiduciaries ('SDFs') and will be notified by the Central government after due consultation with the DPA, or the Data Protection Authority. Clause 26(4) of the Bill defines SMIs as intermediaries who primarily or solely enable online interaction between two or more users," SFLC.in said.

"On a plain reading of the definition, online platforms like Facebook, Twitter, YouTube, TikTok, ShareChat and WhatsApp are likely to be notified as SMIs under the Bill," it added.

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