New Delhi: Industrialist Gautam Adani, Supreme Court lawyer Karuna Nundy and Kashmiri rights activist Khurram Parvez are amongst the TIME Magazine’s list of 100 Most Influential People of 2022, according to the announcement made on Monday.The list also includes an Indian American businessperson, Bela Bajaria, who is currently the head of the Global TV at Netflix. Adani is an industrialist, who had just last month, edged past Warren Buffet to become the 5th richest man in the world, is owner of multiple top-brands across sectors. “Adani’s once regional business now spans airports, private ports, solar and thermal power and consumer goods,” read his profile by TIME. Karuna Nundy, Supreme Court lawyer, known for several landmark cases vis-A-vis gender and women’s rights, was described by TIME as “not just a lawyer but also a public activist who ably and bravely uses her voice both inside and outside the courtroom to bring about change.”The profile for Khurram Parvez, chairperson of the Asian Federation against Involuntary Disappearances, was authored by journalist Rana Ayyub. “Startled and most deeply honoured to be on #ime100, with and for the multitudes of people, the court systems, the lawyers, the movements, and the rights I represent. Thank you each of you who has offered support along the way, you know who you are (sic),” Nundy tweeted as the news broke late on Monday evening. “Bajaria is helping create the future of television. The shows she has shepherded have become global phenomena,” the TIME profile of Bajaria said.The 100 people in categories such as Icons, Pioneers, Titans, Artists, Leaders and Innovators. Top global leaders include US President Joe Biden, Russian President Vladimir Putin, Ukraine President Volodymyr Zelenskyy and Chinese President Xi Jinping. Some of the Titans include Apple CEO, Tim Cook, US television show host Oprah Winfrey and Indonesian Michelle Yeoh; Icons included tennis pro Rafael Nadal, while Artists included actors Mila Kunis and Sarah Jessica Parker of the Sex and the City fame.—IANS

Industrialist Gautam Adani, Supreme Court lawyer Karuna Nundy and Kashmiri rights activist Khurram Parvez are amongst the TIME Magazine’s list of 100 Most Influential People of 2022, according to the announcement made on Monday.

Adani, Karuna Nundy, Khurram Parvez Among TIME’s ‘100 Most Influential People Of 2022’

Business

San Francisco: Tesla CEO Elon Musk is highly active on Twitter these days, also it seems that he is fond of replying regularly to a Pune-based Indian Software developer, Pranay Pathole who is working for Tata Consultancy Services.On Monday, in a tweet Musk said that he is not running Pranay's Twitter account. Pranay tweeted, "Many people think that @elonmusk runs my Twitter account. And it's TRUE. He's a super busy guy, building rockets, making life multiplanetary, building futuristic electric vehicles, digging tunnels. And somehow he finds time to run multiple Twitter account. YES ".In response to the tweet, Elon replied, "Haha I don't even have a burner Twitter account! I do have a cheesy secret Instagram account, so I can click on links that friends send me."Pranay has more than 1.6 lakh followers on Twitter. Elon and Pranay are friends on Twitter and Elon are pretty often spotted replying to Pranay's tweets.—ANI

Tesla CEO Elon Musk is highly active on Twitter these days, also it seems that he is fond of replying regularly to a Pune-based Indian Software developer, Pranay Pathole who is working for Tata Consultancy Services.

'I'm not running your Twitter account' Musk tells Indian techie

Davos: &nbsp;India must establish rules on cryptocurrencies to resolve regulatory uncertainty, protect investors and boost its crypto sector, CoinSwitch CEO Ashish Singhal said on Sunday.Although India's central bank has backed a ban on cryptocurrencies over risks to financial stability, a federal government move to tax income from them has been interpreted by the industry as a sign of acceptance by New Delhi. "Users don't know what will happen with their holdings - is government going to ban, not ban, how is it going to be regulated?," Singhal, a former Amazon engineer who co-founded CoinSwitch, told Reuters at the World Economic Forum in Davos.CoinSwitch, which is valued at $1.9 billion, says it is the largest crypto company in India with more than 18 million users. The firm, based in India's main tech hub of Bengaluru, is backed by Andreessen Horowitz, Tiger Global and Coinbase Ventures. "Regulations will bring peace ... more certainty," he added. Blockchain and cryptocurrency companies have a large presence at this year's Davos meeting, which coincides with a period of crypto prices plummeting around the world. India's central bank has voiced "serious concerns" around private cryptocurrencies, but Prime Minister Narendra Modi in December said such emerging technologies should be used to empower democracy, not undermine it.Exchanges often struggle in India to partner with banks to allow transfer of funds and in April, CoinSwitch and some others disabled rupee deposits through a widely-used state-backed network, alarming investors. 'CLARITY' While moves on taxation and certain advertising regulation had brought some relief, a lot more needed to be done, Singhal said, adding that India should develop a set of laws. These should include norms for identity verification and transferring crypto assets, while for exchanges, India should put in place a mechanism for them to track transactions and report them to any authority if need be.While no official data is available on the size of India's crypto market, CoinSwitch estimates the number of investors at up to 20 million, with total holdings of about $6 billion. Regulatory uncertainty has been widely felt. In April, Coinbase, the largest cryptocurrency exchange in the United States, launched in India, but within days paused use of a state-backed inter-bank fund transfer service.Coinbase CEO Brian Armstrong later said in May the move was triggered due to "informal pressure" from India's central bank. CoinSwitch too has paused so-called UPI transfers to hold talks with banking partners and make them comfortable, Singhal said in the interview. He added CoinSwitch was is in talks with regulators to try and restart the transfer service. "We are pushing for regulations. With the right regulation, we can get the clarity," he said.—REUTERS

India must establish rules on cryptocurrencies to resolve regulatory uncertainty, protect investors and boost its crypto sector, CoinSwitch CEO Ashish Singhal said on Sunday.

India's top crypto app CoinSwitch calls for regulatory 'peace, certainty'

Bengaluru: &nbsp;Infosys Limited, India's second-largest IT services company, on Sunday said it has reappointed Salil Parekh as its Chief Executive Officer (CEO) and Managing Director (MD) for a five-year term ending March 2027. The decision was taken in the meeting of the company's Board of Directors held on May 21, 2022. The board took the decision based on the recommendations of the Nomination and Remuneration Committee (NRC) of the company, Infosys Limited said in a regulatory filing to the stock exchanges.Salil Parekh has been the Chief Executive Officer and Managing Director of Infosys since January 2018. His reappointment is subject to the approval of shareholders. "It may be noted that Salil Parekh has no relationship with any member of the Board of directors and meets all the criteria to be reappointed as Chief Executive Officer and Managing Director under applicable laws including circulars issued by stock exchanges from time to time," Infosys said.Mr Parekh has more than thirty years of global experience in the IT services industry with a strong track record of driving digital transformation for enterprises, executing business turnarounds, and managing successful acquisitions, it said. Before his appointment to Infosys, Mr Parekh was a member of the Group Executive Board at Capgemini, where he held several leadership positions for 25 years. He also served as a Partner at Ernst &amp; Young and is widely credited for bringing scale and value to the Indian operations of the consultancy firm.Infosys board of directors has also approved a grant of 104,000 shares to six key management personnel and another 375,760 shares to 88 other senior executives. These Performance Stock Units will be granted under the Infosys Expanded Stock Ownership Plan 2019, and will vest over 3 years on the achievement of certain milestones, in line with the plan approved by shareholders. The date of the grant for these stock units shall be June 1, 2022, Infosys informed the stock exchanges.—PTI

Infosys Limited, India's second-largest IT services company, on Sunday said it has reappointed Salil Parekh as its Chief Executive Officer (CEO) and Managing Director (MD) for a five-year term ending March 2027.

Salil Parekh reappointed as CEO of Infosys for 5 years

New Delhi: Riding on intense retail investors' interest and a sharp rally in equity markets, asset management companies (AMCs) launched 176 new fund offerings (NFOs) in 2021-22, garnering a whopping Rs 1.08 lakh crore. With liquidity tightening, interest rates on the rise, stock market consolidation in progress, return to work from office, there could be subdued interest in NFOs going forward. While fixed maturity plans (FMPs) category could see considerable launches, the same cannot be expected from other categories, Gopal Kavalireddi, Head of Research at FYERS, said.Also, almost all AMCs have launched new schemes across most categories, thereby fillings the earlier existing product gaps that was created post-recategorization, he said.''Gaps in investment objectives, interest of investor in specific themes, availability of funds for deployment, credibility and reputation of fund managers, and performance of stock markets could dictate the quantum of new launches,'' he added. According to the data compiled by Morningstar India, there were 176 new fund offers (including closed-end funds and ETFs) in 2021-22. These managed to collect a staggering Rs 1,07,896 crore during their inception stage.This was way higher than 84 NFOs floated in 2020-21 and cumulatively, these funds were able to mobilize Rs 42,038 crore. Usually, NFOs come during a surging market when investor sentiment is high and optimistic. The stock market along with the positive investor sentiments kept surging post-March 2020, leading to the launch of higher number of NFOs. The NFOs were floated to capitalise on the mood of investors and attract their investment as they were willing to invest at that time. Coincidentally, over the same period, the Indian capital markets Sebi along with Association of Mutual Funds of India (AMFI) brought in considerable investor-friendly changes which included exit-load removal, entry-load capping, categorization and reorganization of mutual fund schemes, direct plans, risk-o-meter, addition of new category, Flexicap, and other policies, thus ensuing investor awareness and bringing about clarity and transparency in investments.With the need to improve income levels, and also with a view of long-term investing, along with measures taken by Sebi and Amfi resulted in a flurry of NFOs across many categories of mutual funds-- equity and debt alike, Kavalireddi said. Most of the schemes were launched in the index and ETF category, to support both - passive and active investors. The maximum number of funds (49) were launched in the index fund segment, which amassed Rs 10,629 crore, followed by other ETFs (34), which collected Rs 7,619 crore and fixed-term plans (32), which mobilised Rs 5,751 crore.In addition, investors were attracted to international funds and sectoral or thematic funds. The AMCs launched overseas funds of funds, which mopped up Rs 5,218 crore and 11 sectoral or thematic funds, which raised Rs 9,127 crore. Experts believe that the dominance of index funds and ETFs (exchange-traded funds) within NFOs is not surprising, owing to a couple of factors.The ongoing financial year 2022-23 saw the launch of only four NFOs, garnering a total of Rs 3,307 crore, with ICICI Prudential Housing Opportunities Fund taking in the lion's share of Rs 3,159 crore. Further the latest ban by Sebi on NFOs will delay the launch of around 15 schemes, as the market regulator is focused on streamlining the issue of pool accounts, upgrading technology at AMCs, two-factor authentication among others to avoid potential frauds besides minimising operational risk, Kavalireddi said. Also, the latest issue of front running of stocks in Axis Mutual Fund has given rise to issues of trust and credibility of fund houses and their respective fund managers, he added. In April, Sebi had barred the launch of new mutual fund schemes till July 1.—PTI

Riding on intense retail investors' interest and a sharp rally in equity markets, asset management companies (AMCs) launched 176 new fund offerings (NFOs) in 2021-22, garnering a whopping Rs 1.08 lakh crore.