Singapore tops IMD World Competitiveness Index; India ranked 43rd

Agencies
June 16, 2020

India continues to remain ranked 43rd on an annual World Competitiveness Index compiled by Institute for Management Development (IMD) with some traditional weaknesses like poor infrastructure and insufficient education investment keeping its ranking low, the international business school said on Tuesday.

Singapore has retained its top position on the 63-nation list.

Denmark has moved up to the second position (from 8th last year), Switzerland has gained one place to rank 3rd, the Netherlands has retained its 4th place and Hong Kong has slipped to the fifth place (from 2nd in 2019).

The US has moved down to 10th place (from 3rd last year), while China has also slipped from 14th to 20th place. Among the BRICS nations, India is ranked second after China, followed by Russia (50th), Brazil (56th) and South Africa (59th).

India was ranked 41st on the IMD World Competitiveness Ranking, being produced by the business school based in Switzerland and Singapore every year since 1989, but had slipped to 45th in 2017 before improving to 44th in 2018 and then to 43rd in 2019.

While its overall position has remained unchanged in the 2020 list, it has recorded improvements in areas like long-term employment growth, current account balance, high-tech exports, foreign currency reserves, public expenditure on education, political stability and overall productivity, the IMD said.

However, it has moved down in areas like exchange rate stability, real GDP growth, competition legislation and taxes.

Arturo Bris, Head of Competitiveness Center at IMD Business School, said India continues to struggle on the list and the recent country rating downgrade by Moody’s reflects the uncertainties regarding the economy’s future.

"In our ranking this year, we again emphasize the traditional weaknesses of India -- poor infrastructure, an important deficit in education investment, and a health system that does not reach everybody. For India to follow the path of China, it must stress its intangible infrastructure," Bris said.

"In a less global world, with China, USA, and Europe looking inwards, currencies like the rupee (and the Brazilian real for instance) are going to suffer and display high volatilities.

"Moody’s has threatened the country with a downgrade to junk and that would put India in a terrible position to attract foreign capital. So the urgency for the government should be to fix the short-term problems—and this requires to improve the credibility of the government itself," Bris added.

With the exception of Singapore, the Philippines, Taiwan and the Korean Republic, most Asian economies dropped in rankings this year, the IMD said.

The reason for the Asian economies’ less stellar performance as a region, this year is partly the result of the trade frictions between China and the US, particularly because these economies are highly dependent on trade with China.

About Singapore, which moved to the top rank last year, the IMD said its position is largely driven by the relative ease of setting up business, availability of skilled labour and its cutting-edge technological infrastructure.

The IMD said the impact of COVID-19 on the competitiveness ranking has partially been captured by executives’ opinions about the effectiveness of the different health systems.

In the ASEAN countries included in the survey, only Singapore and Thailand have a positive performance in the effectiveness of the health infrastructure.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
July 1,2020

As Peru begins to ease its strict coronavirus lockdown, the country's biggest LGBTQ nightclub opened its doors on Tuesday, but there will be no nighttime revellers; its dance floor will instead be filled with shelves stocked with groceries.

Instead of slinging cocktails at the bar or dancing on stage, ValeTodo Downtown's famed staff of drag queens will sell customers daily household products as the space reopens as a market while nightclubs are ordered to remain closed.

The Peruvian government will lift the lockdown in most regions of the country at the beginning of July but will keep borders closed, as well as nightclubs and bars.

The lockdown has been a struggle for the club's 120 employees like drag queen Belaluh McQueen. Her life completely changed when the government announced the quarantine. Her nights were spent at home, rather than performing as a dancer at the club in vivid-coloured costumes.

"I was very depressed because I have been doing this art for years, but you have to adapt to new challenges for the future," said McQueen, who is identified by her stage name.

Now McQueen is back to work as a grocery store employee, wearing a sequined suit, high heels and a mask. A DJ will play club music as patrons shop. "We have a new job opportunity," McQueen added.

Renamed as Downtown Market, the club, which has been a mainstay hallmark of the local LGBTQ community, ushered in its reopening with an inauguration ceremony.

"Before, I used to come here to dance and have a good time, but now we come to buy," said Alexandra Herrera, a regular attendee of the club. "The thing is to reinvent yourself."

The club's general manager, Claudia Achuy, said that the pandemic impacted the heart of Lima nightlife, but she chose to reopen as a market rather than risk cutting staff. "If we had just stayed as a nightclub we did not have a close horizon or a way of working," Achuy said.

Peru's confirmed coronavirus cases rose to 282,364 with 9,504 associated deaths on Monday, according to government data. It has the second-highest outbreak in Latin America after Brazil, according to a Reuters tally.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
June 4,2020

New York, Jun 4: The Minneapolis police officer who used his knee to pin down George Floyd's neck before his death was the most experienced of the four officers involved in the arrest, with a record that included medals for bravery and 17 complaints against him, including one for pulling a woman out of her car during a speeding stop.

New details about Derek Chauvin and the other now-fired officers emerged Wednesday after prosecutors upgraded Chauvin's charge to second-degree murder and charged the others with aiding and abetting in a case that has convulsed the nation with protests over race and police brutality.

Heavily redacted personnel files show that Chauvin, a 19-year veteran of the force, was initially trained as a cook and served in the Army as a military police officer.

Eleven-year veteran and native Hmong speaker Tou Thao began as a community service officer and was the subject of six complaints.

The other two officers were relative newcomers to the department, including Thomas Lane, a former juvenile detention guard who did volunteer work with Somali refugees, and J. Alexander Kueng, who got his start in law enforcement by patrolling his college campus and a department store.

The files were notable for what they didn't include. Only one of the 17 complaints against Chauvin was detailed, none of the six against Thao were mentioned and there was no further detail about a 2017 excessive force lawsuit against Thao.

Records show that the 44-year-old Chauvin initially studied cooking before taking courses in law enforcement and doing two stints in the Army as a military police officer in the late 1990s, serving at Fort Benning, Georgia, and in Germany.

Chauvin became a Minneapolis police officer in 2001 and the lone reprimand in his file involved a 2007 incident when he was accused of pulling a woman out of her car after stopping her for going 10 mph (16 kph) over the speed limit.

Investigators found it was not necessary for Chauvin to remove the woman from the car and noted that his squad car video was turned off during the stop.

But Chauvin was also singled out for bravery. Files show he won two medals of valor, one in 2006 for being part of a group of officers who opened fire on a stabbing suspect who pointed a shotgun at them, and another in 2008 for a domestic violence incident in which Chauvin broke down a bathroom door and shot a suspect in the stomach.

He also won medals of commendation in 2008 after he and his partner tackled a fleeing suspect who had a pistol in his hand, and in 2009 for single-handedly apprehending a group of gang members while working as an off-duty security guard at the El Nuevo Rodeo, a Minneapolis nightclub.

Since his arrest, the former owner of the club, Maya Santamaria, said Chauvin and Floyd both worked as security guards there at various times but that she wasn't sure if they had known one another.

She said Chauvin was unnecessarily aggressive on nights when the club had a black clientele, quelling fights by dousing the crowd with pepper spray and calling in several police squad cars as backup, a tactic she called “overkill.”

Chauvin's wife, Kellie, a Laotian immigrant who became the first Hmong winner of the Mrs. Minnesota pageant, said shortly after his arrest last week that she intends to divorce him.

Before news of the upgraded charges, an attorney for Chauvin said he was not making any statements at this time. Lawyers for the others did not return messages seeking comment.

In cellphone video of the May 25 arrest of Floyd, Chauvin is shown pressing his knee onto Floyd's neck for more than eight minutes while Floyd cries out “I can't breathe” and eventually stops moving.

During much of the arrest, Kueng and Lane were helping Chauvin restrain Floyd. Thao was standing nearby keeping onlookers back.

According the complaint, at one point during the arrest, as Chauvin held Floyd down with his knee, Lane asked Chauvin twice whether they should roll Floyd over.

“No, staying put where we got him,” Chauvin replied, “I am worried about excited delirium or whatever,” Lane said. And Chauvin replied again, “That's why we have him on his stomach.” None of the three officers moved from their positions.

Lane joined the police early last year as a 35-year-old cadet — much older than most rookies — and became a full-fledged officer last December. He had no complaints in his file during his short time on the force.

On employment forms, the University of Minnesota graduate said he done volunteer work tutoring Somali youth and as a mentor helping at-risk elementary school students with reading and homework.”

Kueng, at 26 the youngest of the four officers, was also a recent recruit to the police force. He completed his year's probation just three months before the Floyd arrest.

His personnel file, which notes that he speaks, reads and writes Russian, did not include any commendations or disciplinary actions during his short time on force.

Kueng was a 2018 graduate of the University of Minnesota, where he worked part-time as part of the campus security force. He also worked nearly three years as a theft-prevention officer at Macy's.

Thao joined the police force part-time in 2008 while attending a community college. Before that, he worked as a security guard, a supermarket stocker and trainer at McDonald's.

City records show six complaints were filed against Thao, but there was no mention of that in the records released Wednesday. There also was no mention of a 2017 federal lawsuit accusing him and another officer of excessive force.

According to the lawsuit, Lamar Ferguson claimed that in 2014, Thao and his partner stopped him and beat him up while he was on his way to his girlfriend's house. The lawsuit was settled for $25,000 ___

Richmond reported from Madison, Wisconsin. Associated Press writer Scott Bauer in Madison and researcher Rhonda Shafner in New York contributed to this report.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
August 7,2020

Colombo, Aug 7: Sri Lankan President Gotabaya Rajapaksa's party and its allies won an overwhelming two-thirds majority in a parliament election, results showed on Friday, giving him the power to enact sweeping changes to the constitution.

The governing Sri Lanka Podujana Peramuna and its allies had won 150 seats in the 225-member parliament, according to the tally published by the election commission from Wednesday's vote.

Rajapaksa had sought a two-thirds majority in parliament to be able to restore full executive powers to the presidency, which he says are necessary to implement his agenda to make the tiny island economically and militarily secure.

He is likely to install his older brother and former President Mahinda Rajapaksa as the next prime minister. The brothers are best known for crushing the Tamil Tiger rebels fighting for a separate homeland for minority Tamils during the elder Rajapaksa's presidency in 2009.

On a congratulatory phone call from Prime Minister Narendra Modi of India, which is keen to check Chinese influence on its southern neighbour, Mahinda Rajapaksa vowed to deepen ties between the two countries.

"With the strong support of the people of Sri Lanka, I look forward to working with you closely to further enhance the long-standing cooperation between our two countries," he told Modi. "Sri Lanka and India are friends and relations."

The tourism-dependent nation of 21 million people has been struggling economically since deadly Islamist militant attacks on hotels and churches last year followed by lockdowns to slow the spread of the coronavirus. 

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.