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The UAE, the company’s largest market, saw high growth in merchant payments processed from domestic consumers at 20 per cent year on year, and payments from international visitors growing 92 per cent
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It is illegal to promise a fixed return in stock market
Dubai - The National Stock Exchange has also cautioned investors and advised them to ignore advertisements about assured or fixed return schemes
The NSE has also asked investors not to invest in funds or securities with brokers or any unregistered intermediaries in schemes which offer fixed returns or give indicative returns. -- File photo
Question: We receive from time to time advertisement messages on SMS and Whatsapp urging people to invest funds in certain stocks or mutual fund schemes. Sometimes the advertisements indicate an assured rate of return to investors. I have been advising my friends in the Gulf to ignore these messages and not be swayed by so-called promised returns on investments. Am I right in doing so?
Answer: You are absolutely right in advising your friends not to get swayed by any assured returns which are promised to influence gullible investors. In fact, the National Stock Exchange has also cautioned investors and advised them to ignore advertisements about assured or fixed return schemes. Some of the advertisements refer to experience of other investors simply to influence the investing public. The NSE has also asked investors not to invest in funds or securities with brokers or any unregistered intermediaries in schemes which offer fixed returns or give indicative returns. In fact, it is illegal to promise or indicate any assured or fixed return in the securities market. Any investment in such schemes is not eligible for any compensation from any stock exchange. The NSE has also asked investors not to allow anyone to trade on their behalf, including investment advisers or brokers.
Q: Many nations are advocating an International Solar Alliance. Is this feasible and what would be the cost involved?
A: The One Sun One World One Grid (OSOWOG) is meant to connect the world through a transnational grid to share solar power. The scale of this project could very well make it the next biggest modern engineering marvel. Cost effective storage will be an important element of this project and when it is implemented it will be providing electricity cheaper than fossil fuel based power. For this project to reach fruition there is a need for tripling investment in grid expansion. The International Energy Agency has estimated an investment of $800 billion annually in solar power. The International Solar Alliance is developing an investment action agenda and roadmap to mobilise $1 trillion of investment by 2030. The blueprint of OSOWOG envisions inter-region energy grids to share solar energy across the world, leveraging the differences of time zones, seasons and resources of countries and regions. This will help to decarbonise energy production. It is important to note that Germany has successfully entered into energy grid partnership with Nordic countries.
Q: The food industry is undergoing a sea change as more and more internet restaurants are being set up. I am told that technology is now going to play a substantial role in the food business eliminating the need for chefs, cooks and other restaurant staff. Will this not revolutionise the hospitality industry?
A: In the past, technology in the food business was used for building products, restaurant discovery, reservations or food delivery. However, rapid changes are taking place and automated processes are being developed to actually make food products like falafel, pizzas, fried items, biryanis, etc. Machines are preparing such food items by adjusting time and temperature as per specifications of each dish. At the end of the process, the machine scans the dish to decide whether to accept or reject it. This technology ensures that the cooking process avoids human errors and enables rapid scaling. Machines are also developed to replicate the process of producing handmade tea. Companies which have hundreds of outlets in different countries of the world ensure that you get exactly the same product at every single outlet. The kitchen equipment is being developed based on the experience of well known chefs whereby the machine implements the same action of chefs in making different products. Cloud kitchens are emerging rapidly in different parts of the world. The food industry which is technologically driven is developing new hardware and creating smart appliances by using kitchen robotics. Tools are used to measure the spiciness and pungency levels of all ingredients so that every dish meets with the same standards of consistency.
H. P. Ranina is a practicing lawyer, specialising in tax and exchange management laws of India.
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