ECONOMI TIMES DIGITAL
Microsoft blamed as Quebec’s SAAQ service centres shut down amid major IT outage
A Microsoft-related server outage has forced Quebec’s automobile insurance board (SAAQ) to shut down all service centres, sparking political backlash and public frustration. The SAAQ outage, which began Tuesday, May 6 is linked to multiple servers supporting mission-critical services. Although SAAQclic is functional, it remains inaccessible. Practical driving tests are still permitted
ET Snapchat Gen Z Index: How India's Gen Z-ers live, work and spend money
The ET Snapchat Gen Z Index reveals that Gen Z in India prioritizes ethical and local shopping, favouring brands like Myntra and H&M. They are intentional shoppers who value authenticity over hype and are open to exploring new brands. While digital payments are popular, Gen Z relies more on cash and focuses on gadgets and education, while millennials prioritize travel
Macros are good but where is the market headed based on earnings, liquidity & PE multiples? Here’s the Citi view
Citi analysts predict single-digit market growth for FY25, with earnings expected to recover in subsequent years. Large private banks and downstream energy companies are currently bolstering performance, offsetting consumption weaknesses. Positive domestic flows and stabilizing FII trends support a constructive medium-term outlook, while potential tariff benefits and government spending could further aid growth.
Bitcoin set to break records and shatter the $100K barrier
Bitcoin is nearing the $100,000 milestone, buoyed by the Federal Reserve's decision to hold steady interest rates, signaling economic confidence. This move, coupled with potential trade deal announcements, has fueled market optimism. Bitcoin ETFs are seeing record inflows, solidifying its status as a mainstream investment, while other cryptocurrencies also experience gains.
Development through the lens of artificial intelligence
Developing nations face a dual challenge: fostering AI innovation for growth while mitigating job displacement. Overcoming the digital divide requires international collaboration to build robust digital infrastructure and equip the workforce with essential skills. Investing in reskilling initiatives and ensuring public access to AI, particularly in rural areas, are crucial for emerging economies to thrive in an AI-driven world.
EU ready to fight back against US tariffs with aggressive countermeasures? Trade chief's big hint
European Commission is set to reveal its strategy against US tariffs if negotiations falter. Maros Sefcovic announced preparatory steps, including rebalancing measures. EU aims for a fair deal, not succumbing to pressure. Tariffs on Boeing jets are considered. This follows a pause in retaliatory tariffs after Donald Trump suspended higher US duties.
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India-UK clinches trade deal; duty cut on British whisky, cars; boost to garment, leather goods exports
India and the UK have finalized a landmark trade agreement aimed at doubling trade to USD 120 billion by 2030. The deal eliminates tariffs on a significant number of Indian goods entering the UK, including labor-intensive products, while reducing tariffs on UK exports like whisky and cars to India.
Four iconic brands to watch in 2025
Several standout brands are making significant strides in 2025, demonstrating innovation and market influence. Apex Group, a financial solutions provider, excels with its global reach and diverse services. Natural Remedies Pvt Ltd focuses on research-driven botanical healthcare. Adhyyan Books, led by CA (Dr.) Nitin Soni, is recognized as a rapidly growing self-publishing house.
Indian tech workers could save half a day weekly by 2029 using automation: Report
By 2029, technology professionals in India could save up to half a working day each week by using automation and augmentation tools, according to new research from global learning platform Pearson. The report, Skills Outlook: Solving the Tech Talent Gap from Within, highlights how companies can address skill shortages by redesigning roles, automating routine tasks, and investing in current employees.
India taking steps to meet demands of global workplace: Union minister Jaishankar
India plans to amend the 1983 Emigration Act to promote legal global mobility and curb illegal migration, said External Affairs Minister S. Jaishankar. Launching the GATI Foundation, he emphasised safeguarding Indian talent abroad, adapting to global workforce demands, and building international mobility partnerships.
India taking steps to meet demands of global workplace: Jaishankar
External Affairs Minister S Jaishankar announced India's plans to amend the Emigration Act of 1983 to align with the demands of the global workplace and promote legal mobility. The government aims to discourage illegal mobility while optimizing benefits for Indian citizens working abroad.
Small lipstick wonders: India’s beauty fix comes in minis and Lakme’s ready to cash in
Mini-sized beauty products are gaining traction in India, driven by affordability, convenience, and the desire for experimentation, particularly among Gen Z. Lakme recognizes the potential of minis to expand make-up usage beyond special occasions, leveraging quick commerce platforms and digital investments to reach consumers.
'Mock drills began almost two days before the war', recalls journalist who witnessed the India-Pakistan 1971 war
In 1971, as India faced war with Pakistan, citizens prepared through blackouts and radio broadcasts. People recall drills with sirens, retreating indoors, and covering windows. The Taj Mahal was camouflaged, and specific protocols were followed during air raid warnings. These memories highlight a time of collective preparation and resilience, a stark contrast to today's digital age.
Can Pakistan fight India on borrowed money?
India-Pakistan tensions: Following the Pahalgam attack, India is employing economic pressure tactics against Pakistan, including potential opposition to IMF loans and suspension of the Indus Waters Treaty. These measures aim to destabilize Pakistan's economy, which is already vulnerable despite recent IMF bailouts and declining inflation. Escalating tensions could jeopardize Pakistan's macroeconomic stability and access to crucial external financing.
China's services growth hits 7-month low as tariffs bite, Caixin PMI shows
China's services sector experienced its slowest expansion in seven months in April, as the Caixin PMI fell to 50.7, impacted by U.S. tariffs and subdued business sentiment. New business growth weakened, leading to job cuts and price reductions by service providers. Policymakers are urged to take action to mitigate the effects of the ongoing trade standoff.
FM Nirmala Sitharaman for reforms at ADB for quicker loans to developing economies
India urged the Asian Development Bank (ADB) to expedite loan approvals and capital expansion to better support developing economies. Finance Minister Sitharaman emphasized process reforms to reduce processing times for both sovereign and non-sovereign operations. She also offered India's support for ADB's digital transformation agenda, highlighting opportunities for innovative financing models.
Once a haven for job seekers, Canada has now one of the worst job markets for graduates; what went wrong, and it could get worse?
Canadians stepping into one of the toughest job markets in decades. With youth unemployment at 11.2%, trade tensions, and limited hiring, many grads face silence after dozens of job applications. This article dives into why entry-level jobs are drying up, how the “no experience, no job” cycle is hurting careers, and what new grads can still do to move forward. It’s a clear, simple breakdown of the current reality and offers honest advice in a hopeful tone—perfect for anyone trying to understand today’s job market for new grads.
Unchecked piracy could cost online video industry $2.4 billion in revenue: Report
India's burgeoning online video sector faces a significant threat from digital piracy, potentially leading to billions in losses and hindering growth. A recent report highlights the urgent need for effective anti-piracy measures to recover revenue, boost content creation, and generate jobs. Industry leaders are advocating for proactive strategies, technological tools, and stronger enforcement to combat this growing issue.
AI adoption can boost revenue by 10%, cut costs by 15% for media industry: EY
An EY report highlights that AI adoption can significantly aid media and entertainment companies. AI is projected to increase revenues by 10% and reduce costs by 15%. India, with its talent pool and AI ecosystem, is positioned to lead this transformation, leveraging AI for content creation, optimisation, and audience engagement.
India’s 'orange economy' making waves to trend on your feeds & shopping carts
Creator Economy in India: India is strategically formalizing its creator economy, recognizing its potential as a structured industry. The government is investing heavily through a $1 billion fund and the establishment of the Indian Institute of Creative Technology. These initiatives aim to boost creator skills, improve content quality, and facilitate global market access, envisioning creators as key drivers of economic growth and global influence.
India’s creator economy set to influence $1 trillion in consumer spending by 2030: Report
India’s creator economy is reshaping the digital and consumer space, with creators now influencing over $350 billion in annual spending—a figure expected to cross $1 trillion by 2030, according to a Boston Consulting Group (BCG) report titled ‘From Content to Commerce: Mapping India’s Creator Economy’.
India's creator economy set to influence $1 trillion in spending by 2030: BCG
India's rapidly growing creator landscape is poised to drive over USD 1 trillion annually by 2030, which currently influence an estimated USD 350 billion in consumer expenditure each year, according to a new report by the Boston Consulting Group (BCG), titled " Mapping India's Creator Economy".
STICPAY: A trusted E-wallet for international money transfers in India
Digital payments gain traction in India. STICPAY, a global e-wallet, facilitates secure cross-border money transfers. It supports users in over 200 countries. Indian users benefit from fast, low-fee international transactions. STICPAY integrates various payment methods and ensures security. It aligns with India's digital financial inclusion goals. It empowers SMEs and freelancers for global commerce.
NSE launches Nifty Waves Index at WAVES 2025 to track India's creative economy
The National Stock Exchange (NSE) has introduced the Nifty Waves Index, designed to monitor the performance of India's media, entertainment, and gaming sectors. Launched at the WAVES 2025 summit in Mumbai, the index comprises 43 listed companies and aims to provide a transparent benchmark for investors.
PM Narendra Modi pitches India as global M&E hub at WAVES 2025
India is becoming a global hub for creative industries. Prime Minister Narendra Modi inaugurated the World Audio Visual and Entertainment Summit (Waves). He highlighted the potential of India's creative economy. The government will launch Waves Awards. Ashwini Vaishnaw announced the Indian Institute of Creative Technology (IICT) in Mumbai. Several tech companies are partnering with IICT for training programs.
WAVES Summit: How creator economy is gaining clout
India's media and entertainment industry is set for a boost with the WAVES 2025 summit, inaugurated by PM Modi, attracting global participation and a $1 billion fund for the creator economy. The event aims to empower digital content creators through funding, skill development, and global market access.
"Today, India is emerging as global hub for film production, digital content, gaming": PM Modi at Waves Summit
PM Modi highlighted that this presents a significant opportunity for India's animation and graphics industry, urging stakeholders to leverage this expansion for greater international reach. He called upon India's young creators to drive the nation's Orange Economy forward, acknowledging that their passion and hard work are shaping a new wave of creativity.
A little eHelp from our judicious friends
The Supreme Court's verdict recognizing digital access as a fundamental right necessitates policy changes to ensure universal availability and affordability. This shift, akin to the evolution of the electricity sector, requires re-evaluating spectrum allocation and network rollout strategies. Bridging the digital divide demands a focus on efficient technology adoption and a balanced role for both the market and the state.
IIMs revising curricula faster to keep pace with AI, business disruptions
Indian Institutes of Management are rapidly updating their curricula to incorporate AI, GenAI, and ESG principles, driven by evolving corporate demands. New courses like 'Token Economy' and AI-powered case discussions are being introduced. The focus is on equipping graduates with tech-savviness, strategic thinking, and practical skills for a digital-first, sustainable business landscape.
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