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GTC Egypt Business Convention to address needs of 3 distinct verticals

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GTC Business Convention

The Global Tourism Council (GTC) is now focussing on tourism Conclave ,Investment Summit and Film Industry Connect – at the inaugural Egypt-India Business Convention. Set to be organised by GTC in association with Egypt Tourism.

The Convention will be held from September 16-19, 2018, at the Marriott Cairo & Omar Khayyam Casino.

Around 300 delegates from different business segments of India are expected to participate in the 4 day-long event, where they will interact with their Egyptian counterparts over B2B meetings.

As part of the Tourism Conclave, the Convention will offer an opportunity for delegates to explore the possibility of developing and promoting the Biblical Tourism Circuit – Jordan, Israel and Egypt. For corporate houses, the Investment Summit will facilitate opportunities for investment in sectors like agriculture, pharma, hospitality, infrastructure, energy, etc. Film-makers and production houses attending the Convention will be able to meet with their counterparts in Egypt and undertake recee of locations for shooting and explore discussions on co-productions.

“GTC is the first council in the tourism sector of India and we have the best of brains from segments like tourism, pharma, investment, hospitality, etc. The objective of the Convention is to strengthen the bilateral relations between the two countries,” said M Iqbal Mulla, Chief Council, GTC. According to Mulla, “The response from the industry for this is quite encouraging. Even NTOs of six countries have already approached us,” he said.

Talking on this, Ismail Amer, Egyptian Tourism Counselor, said the theme of the convention ‘Innovate & Invest’ is brilliant and will offer immense benefits in myriad sectors of both the countries. “The three sectors i.e. tourism, investment and film are very much connected with each other and Egypt’s USP in all the segments is very strong. Hence, this convention will immensely benefit Egypt,” said Amer.

According to Amer, “Experts from different segments are associated with GTC, secondly there is a difference between council and association and people associated with council are always serious in business. Apart from this, the convention will highlight the strength of Egypt in the three segments.”

Citing an example, he said that new administrative capital which is coming up has thrown up huge opportunity for investment. “Our new administrative capital (will have a name later) is as big as Singapore and 7 times bigger than Washington D.C. Currently, lot of construction work is going on for shipping, logistics industries, etc. The length of new development corridor by the Suez Canal is 40 km,” pointed out Amer.

The Council will also strongly suggest for developing a Holy Land Circuit among Jordan, Israel and Egypt which will increase in pilgrimage tourism manifolds from what it is now. “We have already discussed it in our committee and will put it in conclave for implementation,” said Mulla.

The film industry is another priority sector for the Council and the Convention will discuss the issue thoroughly so that the film sectors of both the countries are benefitted. Throwing light on possible outcome, Manoj Gursahani, Member Governing Council, GTC, said, “The film industry will benefit
in very unusual way. The Egyptian film industry can look at cross collaboration opportunities with the Indian film industry. Similarly, Indian film industry and can look at opportunities of exploring and doing television serials, movies and web series which are sold on Netflix and other platforms can be captured on Egypt and look at Egypt talent and combine do a hybrid model. I strongly believe that these are largely the areas where the film and media entertainment sectors want to grow with each other and collaborate with each other.” He also said that the response so far is phenomenal. “All the big brands have already shown their interest but I can’t tell the name at this juncture,” said Gursahani.

“It helps empower local community groups, strengthening their voice.” – Neha Dhupia

Global Tourism Council aims to be the world’s biggest non-government organisation recognised by the Government of India Charitable Trust. It is the brain child of the reputed professionals from India and across the world who are committed to the advancement of the global trade and tourism industry.

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Business

Petrol costs Rs 82.44/litre in Delhi, Rs 89.80 in Mumbai

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Petrol Price

Sep 22 : Fuel prices climbed to fresh highs across the metros cities on Saturday as in Mumbai, where the fuel cost is highest due to the highest VAT, petrol prices inched up to the psychological Rs 90 a litre-mark and sold at Rs 89.80 per litre.

In the national capital, petrol was sold at Rs 82.44 per litre, up from Rs 82.32 per litre on Friday, data on the Indian Oil Corp’s website showed.

As per rates released daily by state-run Indian Oil Corp, the depreciating rupee and expensive crude oil further pushed petrol and diesel to new record highs on Monday.

Fuel prices in the country have been rising almost daily since August 1. They fell only once on August 13 and have been on record levels for over two weeks now.

Sector experts say a weak rupee and high excise duty are major factors for the rise in fuel prices.

Inflationary risks along with broadly negative global cues depressed the Indian rupee to a new low of 72.91 against the US dollar.

Also, high global crude oil cost has become a major concern for the country, which imports over 80 per cent of its oil requirements. The UK Brent crude oil price hovers around $78 per barrel.

Since the start of the calendar year, the petrol price in Delhi has gone up by over 15 per cent from Rs 69.97 on January 1, 2018. The hike in diesel price has been even more steep. It has gone up by more than 22 per cent since January 1 when it cost Rs 59.70.

Last week, the West Bengal government reduced the excise on petrol and diesel by Re 1 per litre each.

The Karnataka government announced on Monday that petrol and diesel will be cheaper by Rs 2 per litre each across the state from Tuesday following the reduction in cess on these fuels.

As per the country’s pricing mechanism, the domestic fuel prices depend upon the international fuel prices on a 15-day average and the value of the rupee.

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Sensex swings 1,500 points, closes 280 points lower

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Sensex equity Nifty

Mumbai, Sep 21: High volatility, following a likely credit crisis in the infrastructure lending and development sector, dragged the market in the red, with the S&P BSE Sensex swinging in around 1,500-point range on Friday.

A plunge of over 1,100 points was witnessed on the BSE Sensex around 1 p.m, only to recover from the day’s low within few minutes. Similarly, the NSE Nifty50 also recovered after dropping below the 11,000-mark.

The sudden sell-off took place across the board with banking and financial stocks losing the most.

At 3.30 p.m, the wider NSE Nifty50 provisionally closed at 11,143.10 points, lower 91.25 points or 0.81 per cent from the previous close of 11,234.35 points.

The BSE Sensex, which had opened at 37,278.89 points, provisionally closed at 36,841.60 points, lower 279.62 points or 0.75 per cent from the previous close of 37,121.22 points.

The Sensex touched an intra-day high of 37,489.24 points and a low of 35,993.64 points.

The fourth consecutive session’s slide was triggered also by other factors, including lower possibility of the Reserve Bank of India cutting its key lending rates, analysts said.

IANS

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Man finds insect in cake at Ikea Hyderabad store, Tweets video

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IKEA Cake insect
The photo tweeted by the customer who bought a cake at IKEA's Hyderabad restaurant.

Hyderabad, Sep 21: Swedish furniture major IKEA’s first ever store in India in Hyderabad has again landed in controversy. Weeks after a customer had complained about finding a caterpillar in his biryani, ordered at Ikea’s store in Hyderabad, another customer has said that he found an insect in a chocolate cake that he ordered at the Ikea store.

The customer, Kishore, tweeted on September 12 that he found the insect inside a slice of chocolate cake while his daughter was eating the dessert at the IKEA store. He also posted a video in which an insect can be seen crawling over the chocolate cake.

The Greater Hyderabad Municipal Corporation has reportedly fined the Swedish furniture major Rs. 5,000 based on Kishore’s complaint.

IKEA on Thursday expressed regret over the incident. “In our Hyderabad restaurant when a customer was eating a chocolate cake which he bought, a fly was seen on the cake which eventually flew away. We regret this and apologise to our customer for the unfortunate experience. We are taking steps to avoid such occurrences,” an IKEA spokesperson said.

This is the second such incident that happened at the Ikea Hyderabad store that was opened on August 9. On September 2, a customer reported a caterpillar in the vegetable biryani supplied to him. Ikea India subsequently took vegetable biryani and samosa off its menu and apologised to the customer.

Read More: IKEA stops selling biryani, samosa after complaint

In the incident of the caterpillar in biryani, the furniture giant was fined Rs. 11,500 by the Hyderabad civic agency.

IKEA opened its first India store in Hyderabad on August 9. It has a 1,000-seater restaurant that serves a wide range of food, from Swedish to Indian snacks.

WeForNews

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