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Delhi: Businesses can now remain open 24×7, over 300 applications cleared by L-G

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Photo by Rehan Fazal on Unsplash

From restaurants to transport services and BPOs to online delivery services, all those who apply for exemptions will be allowed to operate 24×7 in Delhi starting next week, with Lieutenant Governor V K Saxena approving the proposal to exempt 314 such places to operate all day long, some of them pending since 2016, officials said.

“The L-G has directed that notification to this effect be issued within seven days. The decision of providing exemption under Sections 14, 15 & 16 of the Delhi Shops & Establishment Act, 1954, is expected to boost employment generation and promote a positive and favorable business environment that is a prerequisite for economic growth. The decision will also provide a fillip to the much desired ‘nightlife’ in the city,” said an official.

Source: IndianExpress

Business

Earn While You Tweet: Twitter Now Pays Content Creators for Ad Revenue.

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Image: The Atlantic

Twitter has introduced a new initiative to reward content creators by sharing a portion of the advertising revenue generated from ads displayed in response to their posts. Eligible users must have accumulated over 5 million tweet impressions per month for the past three months and be subscribers to Twitter Blue. Elon Musk, the head of Twitter, has confirmed that these payments will amount to a total of $5 million, starting in February. Stripe will facilitate the distribution of these payouts.

Notably, the payments made to content producers have garnered attention due to the amounts received by some well-known individuals. For instance, writer Brian Krassenstein, with approximately 750,000 followers, reportedly received $24,305 from Twitter. Similarly, SK, an influential creator boasting nearly 230,000 followers, claims entitlement to $2,236. Furthermore, political commentator Benny Johnson, who enjoys a following of approximately 1.7 million, stated that he will be paid $9,546.

The compensation from Twitter is determined based on tweet impressions. Ashley St. Clair, a writer for the Babylon Bee, estimated her earnings to be $7,153 using a rough calculation. She accumulated 840 million impressions from February to July. Consequently, her cost per mille (CPM) would be approximately $0.0085, equating to $8.52 per million impressions. It remains uncertain whether individual CPMs differ among users.

Twitter faces a challenge in determining which creators should be compensated for advertisements displayed in users’ feeds, similar to the revenue-sharing issues faced by short-form video platforms like TikTok. Consequently, Twitter has chosen to monetize the advertising shown in tweet replies.

Consequently, content creators will likely seek to attract responses to their tweets. While the ideal outcome would be sparking meaningful dialogue, platforms like Facebook have shown that strong emotions tend to generate the most interest. According to a tweet by Farzad Mesbahi, “The more haters you have in your replies, the more money you’ll make on Twitter.” Musk responded with a remark about “poetic justice.”

Certain restrictions exist regarding the types of creators who can benefit from this program. Twitter’s guidelines prohibit the commercialization of sexual content, although it remains one of the few popular social media platforms that allows such content. This decision will have an impact on the community of sex workers. Additionally, creators cannot monetize “pyramid schemes or get-rich-quick schemes,” violence, criminal activity, gambling, or drugs. Twitter has also made it clear that attempting to profit from copyrighted material that creators do not control will result in repercussions.

While Twitter allocates $5 million to content creators, it recently faced a lawsuit seeking $500 million in unpaid severance payments to workers who lost their jobs due to Musk’s acquisition. Furthermore, Twitter has encountered issues with unpaid rent for its office spaces.

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Uday Kotak’s Perspective: Key Highlights from Kotak Mahindra Bank’s Annual Report

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Image Credits: Mohamed Abd El Ghany/Reuters

In the recently published annual report of Kotak Mahindra Bank, Uday Kotak, the Vice Chairman and Managing Director, conveyed his optimism regarding the bank’s future in the face of the challenging economic conditions created by the COVID-19 pandemic.

Kotak started his message by sharing a quote that captures the essence of Kotak Mahindra Bank’s culture and values. He described the bank as a constant confluence of river waters, collaborating to build a sustainable ocean and aspiring to exist indefinitely.

The report emphasized Kotak Mahindra Bank’s focus on digital transformation and technological innovation. By leveraging these advancements, the bank aims to provide its customers with seamless banking services. Kotak highlighted the key elements required to build a sustainable institution for the future, including product excellence, customer obsession, and trust. He stated that the bank is currently in the process of shifting its priorities and embracing a “phygital” approach, which combines the physical and digital realms.

Kotak also discussed the bank’s transition towards a “digical” approach, where digital technology takes the lead, supported by physical infrastructure. He acknowledged that technology and artificial intelligence will continue to shape this transformation in the future.

The report mentioned significant hires made by Kotak Mahindra Bank over the past year, forming part of its digital-first strategy. Kotak emphasized the importance of bringing experienced bankers on board to drive transformative changes in key areas. Notably, the bank appointed a new Chief Technology Officer, Chief of Customer Experience, Head of Brand, Product, and Marketing, and Chief of Retail and Commercial Risk.

During the bank’s annual general meeting, Kotak commented on the dominance of geopolitics in world economics. He praised India’s strategic decision-making, stating that the country is well-positioned to withstand various challenges, such as the war in Ukraine, rising inflation, and economic slowdown. Kotak highlighted India’s strengths, including its young and growing population, a robust domestic market, and a resilient economy. He also mentioned that India has effectively capitalized on the global economic landscape.

In terms of financial performance, Kotak Mahindra Bank reported a 23% year-on-year growth in net profit at the consolidated level for the fiscal year 2022-23, amounting to Rs 14,925 crore. The bank’s Return on Assets (ROA) reached 2.62% for the same period, indicating an improvement compared to the previous fiscal year. Additionally, the Standalone Net Interest Margin (NIM) stood at 5.33%, reflecting a 72 basis points increase from the previous year. The bank’s net profit witnessed a 28% year-on-year growth, reaching Rs 10,939 crore.

Kotak expressed satisfaction with the bank’s performance, noting that their full-year numbers demonstrated optimism, particularly in terms of profit growth, margins, and asset quality standards.

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India Surpasses China as the Top Emerging Market for Investors | Invesco Report

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Representational Image | Source: Deccan Herald

India has overtaken China as the most attractive emerging market for investors, according to a report by Invesco. Factors such as improved business and political stability, favorable demographics, and proactive regulation have contributed to India’s rise. Sovereign wealth funds are favoring fixed income and private debt, while India, along with South Korea, remains a top destination for increasing investment exposure. Concerns about inflation have led to increased interest in gold and emerging market bonds. However, FDI inflows in India have declined due to high inflation and global recessionary trends.

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