MUMBAI: WEDNESDAY, JANUARY 16, 2019 VOL. XXVI NO. 92 AISHWARYA PUBLICATIONS PVT. LTD. ESTD. 1993 8 PAGES PRICE ` 10

INDIA’S EXCLUSIVE BI-WEEKLY NEWSPAPERRNI NO. 56969/93

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ASSIGNMENTS, BUSINESS & EXPORTS

Our UAE Correspondent

THE UAE employmentmarket is set to pick upin 2019 with improvement

in the jobs market, but workersshould not expect any major in-crease in salaries, according toa new report.

The Cooper Fitch 2019Salary Guide revealed optimismfor 2019 on the back of higheraverage oil prices and with GDPgrowth expected by the CentralBank of the UAE to be 4.2 percent after a spate of reformswere announced by the gov-ernment.

“We predict an improvementin the employment market in2019,” said Trefor Murphy, CEO& Founder of Cooper Fitch. “Inthe previous years, the marketsaw a significant restructuring inorganisations, particularly in thebanking sector which affectedemployment rates and adverselyinfluenced salary levels.”

He added that he sees “morejob stability” in 2019, but is “notexpecting any increase in salaryranges”. Sectors that should ex-

perience hiring growth includeadvisory, as commercial disputes“are on the rise”, and legal, withboth expected to rise by 10 to15 per cent. “There is an in-crease in banking, complianceand regulatory and legal posi-tions in the region, while there

is a limited local talent supply,”the report said.

Legal companies will be at-tempting to retain top-tier talentthrough strong bonus pools,flexible working arrangementsand exciting projects, and withExpo 2020 coming nearer, re-

tention of candidates “will beeven more important”.

The introduction of VAT inthe UAE brought the need fortax specialists, and while themajority of these were expatri-ates, there is expected to be anincrease in the number of Emi-

ratis “fluent” in taxation as a re-sult of education programmes.“This growing field is maturingand creating new job opportu-nities for local talent... hiring inthe public sector is skyrocketing,”the report stated.

Efforts by the Emirates to

be at the forefront of the digitaltransformation are expected tosee tens of thousands of cloudcomputing jobs created in thecountry by 2022. There’s a “hugedemand for good salespeopleand experienced consultants”and jobs in robotics and artificial

intelligence from the IT sectorwill be in high demand.

Spending in the UAE oncloud computing services –where data is saved and sharedover the internet remotely – isexpected to quadruple duringthe next five years, reachingDhs 1.5 billion. Salaries in theUAE are projected to increaseby 4.8 per cent in 2019 acrossall industries, according to theTotal Remuneration Study of theglobal consulting firm Mercer.

Mercer found that overallsalaries in the UAE increasedby 4.5 per cent in 2018, with thebiggest pay rise of 5 per centawarded to those in the “life sci-ences” sector. A poll carried outamong UAE residents by TheNational recently found that 14per cent of the 2,700 who par-ticipated received a pay rise ofmore than 3 per cent in 2018.

Forty per cent said they areexpecting a pay rise in 2019,while 54 per cent said their com-pany does not increase salaries.Furthermore, 67 per cent saidthey will be looking to changejob in 2019.

UAE employment market to improve in 2019

Our Dubai Correspondent

DUBAI International Air-port (DXB) has beenranked among the

world’s 10 most dynamic andattractive airports, taking thethird spot after Atlanta and Bei-jing airports, said a report, citingthe latest ranking of the Inter-national Civil Aviation Organiza-tion (ICAO).

International specialised re-ports show that the number ofvisitors to DXB annually reachesmore than 88 million, a numberthat was celebrated on Decem-ber 20, 2018 with the arrival ofthe billionth passenger, who

was received by Sheikh Ahmedbin Saeed Al Maktoum, Chair-man of DXB.

Reports from internationaltourism organisations, includingICAO, indicate that the annualnumber of passengers aroundthe world stood at 4.5 billion,and DXB was among the top

airports, with its unique facilitiescoupled with entertainment andluxury. With a total area of6,70,000 sq m, DXB has sixfloors with the capacity to ac-commodate 90-million passen-gers, in 4,800 sq m of retailspace, and 2,000 sq m of restau-rants, and five hotels.

Dubai Airport among world’stop 10 dynamic airports

AAT News Service

ONE of the regrets of peo-ple in their 60s is thatthey have not been able

to invest their money wisely.Most of them have been toocareful about their money andsome of them have ended upholding cash which has notfetched them any returns otherthan the comfort that they havenot lost their principals. Manyothers also have invested insegments that have proved tobe illiquid or those that havegiven very little returns.

So the New Year is the timeto make some good financialresolutions. So we put togethera financial resolutions plan fromvarious advisors to help you planyour finances better.

Have a budget

This is one of the most important

things one has to do. Having abudget and net worth statementcan help you build your roadmap and stay on track. Makesure your budget has threethings: how much you’re takingin after taxes, how much you’respending, and how much you’resaving. If you’re not sure whereyour money is going, track your

spending using a spreadsheetor an online budgeting tool for30 days.

Determine how much moneyyou need to cover your fixedmonthly expenses, such as yourmortgage and other living ex-penses, and how much you’dlike to put away for other goals.For retirement, our rule of thumb

is to save 10-15 per cent of pre-tax income, including any matchfrom an employer, starting inyour 20s. If you delay, theamount you may need to savegoes up. Add 10 per cent forevery decade you delay savingfor retirement. Once you committo an amount, consider waysyou can save automatically.

Make a list of your assets(what you own) and subtractyour liabilities (what you owe).Subtract the liabilities from theassets to determine your networth. Don’t panic if your networth declines during tough mar-ket periods.

What’s important is to see ageneral upward trend over yourearning years. If you’re retired,you’ll want to plan an incomeand distribution strategy to makeyour net worth lasts as long asnecessary, and to support otherobjectives.

n Investment Fund – P8

Make Right Investment DecisionsNo one has the perfect investment plan. But that should not stopus from planning our investments. Here is some help with that

Our Dubai Correspondent

DUBAI is going to housethe world’s largest com-mercial sports shopping

mall. Dubai-based Viva City hasannounced plans to build theSport Society project.

The company said, the proj-ect will take the concept of sportcentres to ‘unprecedented lev-

els’ when it opens doors with aglobal event in 2020.

It will have three floors witha total area that is equal to 12football pitches. The groundfloor will have a large space fororganising various sportingevents.

The other two levels will fea-ture retail outlets by the mostprominent international sports

brands as well as dedicatedspaces for various sports activi-ties in addition to a large chainof restaurants and cafes.

The mall will also have ascreen that will be one of thelargest LED display panels onwhich visitors can watch inter-national sports events.

Edgar Bove, head of designat Viva City, said “the project will

present big surprises both in de-sign and activities, and will de-liver a unique experience com-bining shopping, entertainmentand sports. The launch of theproject comes in line with theDubai Fitness Challenge.”

“The Sport Society brings anew concept in creating activeand exciting spaces to boost themorale of visitors,” he said.

It will have threefloors with a totalarea that is equalto 12 footballpitches. Theground floor willhave a large spacefor organisingvarious sportingevents

World’s largest sportsmall to come up in Dubai

2 ASSIGNMENTS ABROAD TIMES, MUMBAI, WEDNESDAY, JANUARY 16, 2019

AAT News Service

INDIAN Navy’s first flyawayDeep Sea Submarine Res-cue System was formally in-

ducted by Admiral Sunil Lanba,Chairman of Chiefs of Staff

Committee and Chief of theNaval Staff (CNS), at the NavalDockyard, Mumbai. Vice-Admi-ral Girish Luthra, Flag OfficerCommanding-in-Chief, Western

Naval Command, formerCNS/Commanding-in-Chief aswell as the senior managementof the original equipment manu-facturer, James Fisher andSons, UK were present duringthe induction ceremony.

Aquisition of this capabilityis a significant and pioneeringjump in the Indian Navy’s capa-bility in deep submarine rescue.The Indian Navy currently oper-

ates submarines of the Sind-hughosh, Shishumar, Kalvariclasses as well as nuclear-pow-ered submarines. The operatingmedium and the nature of oper-ations undertaken by sub-marines expose them to high

degree of inherent risk. In such an eventuality, tradi-

tional methods of search & res-cue at sea are ineffective for adisabled submarine. To over-

come this capability gap, the In-dian Navy has acquired a thirdgeneration, advanced subma-rine rescue system consideringof a non-tethered deep submer-gence rescue vehicle (DSRV)and its associated equipment.The Indian Navy now joins

a select League of Nationsworldwide with the sovereign ca-pability, in flyaway configuration,to search, locate and rescuecrew from a disabled submarine. The system would have a

global footprint and can be mo-bilised from the naval base atMumbai to the nearest mobili-sation port by air/land or sea toprovide rapid rescue to the sub-marines in distress. The newly-acquired capability would be op-erated and deployed by thecrew of Indian Navy’s newly-formed Submarine Rescue Unit(West) from its base in Mumbai.The system, considered to

be the most advanced systemcurrently in operation globally, iscapable of undertaking rescuefrom a disabled submarine up to650 m depth. The DSRV, whichis operated by a crew of 3, canrescue 14 personnel from a dis-abled submarine at one time andcan operate in extreme sea con-ditions (up to Sea State 6).

Flyaway Deep Sea SubmarineRescue System inductedat Mumbai Naval Dockyard

AAT News Service

THE Union Cabinet hasgiven its approval forsigning of Memorandum

of Understanding (MoU) be-tween India and Afghanistan onco-operation in human resourcedevelopment (HRD).The MoU would facilitate

students and faculty of educa-tional institutions in Afghanistanto register and use the

SWAYAM or Study Webs of Ac-tive – Learning for Young Aspir-ing Minds courses. Also, it wouldfacilitate them to upload onSWAYAM the courses devel-oped in Afghanistan. The re-quired training to students andfaculty from Afghanistan wouldbe imparted by Ministry of HRD.Through this MoU, the In-

dian government would provideaccess and share the technol-ogy of other major ICT initia-

tives in education such as Na-tional Digital Library of India,virtual labs, spoken tutorials. Itis also proposed to establishjoint master degree pro-grammes between Indian andAfghanistan universities/institu-tions.The ministry would assist the

Ministry of Higher Education,Afghanistan in the areas of cur-riculum development and ca-pacity development of teaching

staff. Through this MoU, boththe countries agreed to sign anagreement on mutual recogni-tion of academic qualifications. This is expected to promote

student mobility under ‘Study inIndia’ programme, by attractingmore foreign students to comeand study in Afghan institutions.This MoU would be a signif-

icant milestone in the collabora-tion between two countries ineducation sector.

Cabinet approves MoU with Afghanistan on HRD

AAT News Service

THE Ministry of Commerce& Industry is examiningthe proposal to set up

trade promotion bodies in 15countries to promote exports ofSmall and Medium Enterprises(SMEs) from India, said theUnion Minister for Commerce &Industry and Civil Aviation,Suresh Prabhu. He was speak-ing at the 15th Global SME Busi-ness Summit, in New Delhi.Mr Prabhu informed the par-

ticipants of the Summit aboutthe commitment of the Ministryof Commerce and Industry to-wards the growth of SMEs thatare the pivot of the overall eco-nomic growth of the country.The minister spoke about thechanging trade regimes globallyand establishment of new traderoutes based on availability of

labour and skill. Global ValueChains (GVCs) are specificallysignificant for SMEs as they pro-vide them the opportunity to con-tribute to exports without bearingthe set-up costs. The concept of trade has

been changing where larger en-terprises increasingly rely onoutsourcing the manufacturingactivities. This practice has

proved quite advantageous tomicro, small and medium enter-prises (MSMEs) where they canparticipate in the exports throughmanufacturing of intermediateproducts.The Commerce Ministry is

also working on a comprehensivestrategy to boost MSME sectorby granting new patents in recordtime. New Intellectual Propertyregime is being launched tostrengthen Intellectual PropertyRights (IPRs) of Indian MSMEsas well as protecting IPRs ofother countries.The summit was organised

by Ministry of MSME in partner-ship with Confederation of IndianIndustry (CII). The inaugural ses-sion was attended by Union Min-ister of State for MSME, GirirajSingh; Secretary, Ministry ofMSME, Arun Kumar Panda andother senior officials.

Commerce Ministry toset up trade promotionbodies in 15 countries

The Prime Minister, Narendra Modi at the dedication of the Solapur-Tuljapur-Osmanabadsection of New NH-52 to the nation and unveils foundation stone plaque of multipledevelopment projects, in Solapur, Maharashtra. The Chief Minister of Maharashtra,Devendra Fadnavis is also seen

AAT News Service

THE Indian governmenttook over the operationsof a part of Shahid Be-

heshti Port, Chabahar in Iranduring the Chabahar TrilateralAgreement meeting held thereon December 24, 2018. The heads of Indian, Iranian

and Afghanistan delegation jointlyinaugurated the office of the In-dian SPV – India Ports GlobalChabahar Free Zone (IPGCFZ),at Chabahar. The physical take-over of the terminal area, cargohandling equipment and officebuilding was completed by De-cember 29, 2018.Commercial operations be-

gan at IPGCFZ with the arrivalof a vessel. A Cyprus-registeredbulk carrier had arrived atChabahar with 72,458 MT ofcorn cargo. The vessel MV

MACHERAS berthed at the ter-minal at 01:30 hrs on December30, 2018. Thus, IPGCFZ carriedout its first cargo operation bydischarging the imported cargo(ex-Brazil) using pneumatic un-loaders.This step marks the begin-

ning of a long journey. India haswritten history with its engage-ment in Chabahar and is nowleading the regional co-operationand joint efforts to support land-locked Afghanistan. This is thefirst time India will be operatinga port outside its territories.India started interacting with

Iran on Chabahar Port around2003, but a major push was re-ceived in the second half of2014, resulting in the signing ofa memorandum of understanding(MoU) between the two countriesfor the development of ChabaharPort in May 2015.

This MoU translated into aformal 10-year contract forequipping and operating theChabahar Port, which was exe-cuted on May 23, 2016, duringPrime Minister Narendra Modi’svisit to Tehran. Since there were challenges in

activation of the said contract, thefoundation of an interim period con-tract was laid during the visit of Has-san Rouhani, President of Iran toNew Delhi in February 2018. Re-sultantly a formal short-term contractbetween the two sides was signedon May 6, 2018.The efforts of the Indian gov-

ernment were fully reciprocatedby PMO, Iran and Iranian Em-bassy in India, Indian Embassyin Iran, Ministry of External Af-fairs, Ministry of Finance andNiti Aayog for guidance and con-tinuous support in achieving thismajor milestone.

India takes overoperations of part ofChabahar Port in Iran AAT News Service

THERE is a need to pro-vide affordable medicalfacilities to people living

in rural areas. Medical collegesshould encourage students tovisit rural areas and understandthe healthcare requirements ofpoor and downtrodden, stressedthe Vice-President, VenkaiahNaidu.While addressing the Dia-

mond Jubilee of RangarayaMedical College and Golden Ju-bilee of its old students associ-ation in Kakinada, AndhraPradesh, Mr Naidu advocatedthat a doctor in the governmentservice must mandatorily servein rural areas before getting his/her first promotion.Governments draw up poli-

cies and programme to improvehealthcare. But it is the doctorsat the grass-roots level who playkey role in making them suc-cessful, said the Vice-Presidentand asked young doctors to besensitive to patients and theirfamily. An important complement

such as bonding and personaltouch was missing in today’streatment due to work pressure,increased reliance on investiga-tions and commercialisation ofthe profession. Mr Naidu advised doctors to

spend more time and establishpersonal bond with the patientand his/her relatives and saiddoctor’s gentle touch and kindwords could soothe the frayednerves of a nervous patient andproduce a calming effect.The Vice-President called

upon the private sector to workwith a spirit of altruism, commit-ment and missionary zeal in pro-viding modern and affordablehealthcare facilities in rural ar-eas. United efforts of govern-

ment and private sector wouldtake quality healthcare to re-mote areas and help the countrybridge the urban-rural divide.Saying that India had made

significant improvements in pro-viding basic and advancedhealthcare since independence,

Mr Naidu opined that muchneeded to be done to improvelife expectancy, reduce maternaland infant mortality rates andimprove quality of life.Expressing concern over the

growing incidence of non-com-municable diseases, he said In-

dia witnesses the double burdenof diseases – infectious ailmentsas well as an increased inci-dence in lifestyle diseases likediabetes, high blood pressure,obesity, heart disease and can-cers. It is estimated that 62 percent deaths among men and 52per cent among women are dueto non-communicable diseases.Mr Naidu said the govern-

ment initiative of ‘AyushmanBharat’ that provides insurancecoverage and comprehensiveneed-based healthcare through1,50,000 health and wellnesscentres to 10-crore poor and vul-nerable families would addressproblems faced by people likehuge out-of-pocket expenditureand accessing modern health-care facilities.The Vice-President also

called upon various medical as-sociations to take up a cam-paign to educate people on themeasures to be adopted for pre-venting lifestyle diseases.

Provide affordable medical facilitiesto people in rural areas: VenkaiahMedical associations should campaign to educatepeople on preventing lifestyle diseases

wednesday, january 16, 2019 assignments abroad times, mumbai 3

overseas assignments

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hall, mylapORe, chennai – 600 004DeLhI: BuildinG nO.9, 2nd flOOR, aBOVe maGma Office, sant

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A special section of Assignments Abroad Times WEDNESDAY, JANUARY 16, 2019 ASSIGNMENTS ABROAD TIMES, MUMBAI 5

AAT News Service

GLOBAL economic gro -wth is projected to softenfrom a downwardly re-

vised 3 per cent in 2018 to 2.9per cent in 2019 amid risingdownside risks to the outlook,said the World Bank. Interna-tional trade and manufacturingactivity have softened, trade ten-sions remain elevated, and somelarge emerging markets haveexperienced substantial financialmarket pressures.

Growth among advancedeconomies is forecast to dropto 2 per cent this year, says theJanuary 2019 Global EconomicProspects. Slowing external de-mand, rising borrowing costs,and persistent policy uncertain-ties are expected to weigh onthe outlook for emerging marketand developing economies.Growth for this group is antici-pated to hold steady at a weak-er-than-expected 4.2 per centthis year. The silver lining isIndia. India is forecast to accel-erate to 7.3 per cent in FY2018/19 as consumption remainsrobust and investment growthcontinues.

“At the beginning of 2018the global economy was firingon all cylinders, but it lost speedduring the year and the ridecould get even bumpier in theyear ahead,” said World BankChief Executive Officer, KristalinaGeorgieva. “As economic andfinancial headwinds intensify foremerging and developing coun-tries, the world’s progress in re-ducing extreme poverty couldbe jeopardised. To keep the mo-mentum, countries need to investin people, foster inclusive growth,and build resilient societies.”

The report states that theupswing in commodity exportershas stagnated, while activity incommodity importers is decel-erating. Per capita growth willbe insufficient to narrow the in-come gap with advancedeconomies in about 35 per centof emerging market and devel-oping economies in 2019, withthe share increasing to 60 percent in countries affected byfragility, conflict, and violence.

A number of developmentscould act as a further brake onactivity. A sharper tightening inborrowing costs could depresscapital inflows and lead to slowergrowth in many emerging marketand developing economies. Pastincreases in public and privatedebt could heighten vulnerabilityto swings in financing conditionsand market sentiment. Intensi-

fying trade tensions could resultin weaker global growth and dis-rupt globally interconnected valuechains.

“Robust economic growth isessential to reducing poverty andboosting shared prosperity,” saidWorld Bank Group Vice-President

for Equitable Growth, Financeand Institutions, Ceyla Pazarba-sioglu. “As the outlook for theglobal economy has darkened,strengthening contingency plan-ning, facilitating trade, and im-proving access to finance will becrucial to navigate current un-certainties and invigorate growth.”

The informal sector accountsfor about 70 per cent of em-ployment and 30 per cent ofgross domestic product (GDP)in emerging market and devel-oping economies. Since it is as-sociated with lower productivityand tax revenues and greaterpoverty and inequality, this issymptomatic of opportunitieslost. Reducing tax and regulatoryburdens, improving access to fi-

nance, offering better educationand public services, andstrengthening public revenueframeworks could level the play-ing field between formal and in-formal sectors.

Debt vulnerabilities in low-income countries are rising.

While borrowing has enabledmany countries to tackle impor-tant development needs, themedian debt-to-GDP ratio of low-income countries has climbed,and the composition of debt hasshifted towards more expensivemarket-based sources of financ-ing. These economies shouldfocus on mobilising domestic re-sources, strengthening debt andinvestment management prac-tices and building more resilientmacro-fiscal frameworks.

Sustaining historically lowand stable inflation is not guar-anteed in emerging market anddeveloping economies. Cyclicalpressures that have depressedinflation over the past decadeare gradually dissipating. The

long-term factors that havehelped reduce inflation over thepast five decades – global tradeand financial integration, wide-spread adoption of robust mon-etary policy frameworks – maylose momentum or reverse.Maintaining low global inflation

may become as much of a chal-lenge as achieving it.

Policies aimed at softeningthe blow of global food priceswings can have unintendedconsequences if implementedby many governments in unco-ordinated fashion. Governmentinterventions can provide short-term relief, but widespread ac-tions are likely to exacerbatefood price spikes, with heaviestimpact on the poor. For example,trade policies introduced duringthe 2010-11 food price spikemay have accounted for morethan one-quarter of the increasein the world price of wheat andmaize. The 2010-11 food pricespike tipped 8.3 million people(almost 1 per cent of the world’s

poor) into poverty.“Designing tax and social

policies to level the playing fieldfor formal and informal sectorsas well as strengthening domes-tic revenue mobilisation and debtmanagement will be importantpriorities for policymakers to

overcome the challenges asso-ciated with informality in devel-oping economies,” said WorldBank Prospects Group Director,Ayhan Kose. “As the economicoutlook dims, such efforts be-come even more important.”

South Asia

Regional growth is expected toaccelerate to 7.1 per cent in2019, underpinned by strength-ening investment and robustconsumption. India is forecastto accelerate to 7.3 per cent inFY 2018/19 as consumption re-mains robust and investmentgrowth continues. Bangladeshis expected to slow to 7 per centin FY 2018/19 as activity is sup-

ported by strong private con-sumption and infrastructurespending. Pakistan’s growth isprojected to decelerate to 3.7per cent in FY 2018/19, with fi-nancial conditions tightening tohelp counter rising inflation andexternal vulnerabilities. Sri Lankais anticipated to speed up slightlyto 4 per cent in 2019, supportedby robust domestic demand andinvestment boosted by infra-structure projects. Nepal’s post-earthquake momentum is fore-cast to moderate, and growthshould slow to 5.9 per cent inFY 2018/19.

East Asia and Pacific

East Asia and Pacific remainsone of the world’s fastest-growingdeveloping regions. Regionalgrowth is expected to moderateto 6 per cent in 2019, assumingbroadly stable commodity prices,a moderation in global demandand trade, and a gradual tight-ening of global financial condi-tions. Growth in China is ex-pected to slow to 6.2 per centthis year as domestic and ex-ternal rebalancing continue. Therest of the region is expected togrow at 5.2 per cent in 2019 asresilient demand offsets the neg-ative impact of slowing exports.Indonesia’s growth is expectedto hold steady at 5.2 per cent.The expansion of the Thai econ-omy is expected to slow in 2019to 3.8 per cent.

Middle East and North Africa

Regional growth is projected torise to 1.9 per cent in 2019. De-spite slower global trade growthand tighter external financingconditions, domestic factors, par-ticularly policy reforms, are an-ticipated to bolster growth in theregion. Growth among oil ex-porters is expected to pick upslightly this year, as Gulf Coop-eration Council (GCC) countriesas a group accelerate to a 2.6per cent rate from 2 per cent in2018. Iran is forecast to contractby 3.6 per cent in 2019 as sanc-tions bite. Algeria is forecast toease to 2.3 per cent after a risein government spending lastyear tapers off. Egypt is forecastto accelerate to 5.6 per centgrowth this fiscal year as invest-ment is supported by reformsthat strengthen the business cli-mate and as private consumptionpicks up.

Europe and Central Asia

The lingering effects of financial

stress in Turkey are anticipatedto weigh on regional growth thisyear, slowing it to 2.3 per centin 2019. Turkey is forecast toexperience weak activity andslow to a 1.6 per cent pace dueto high inflation, high interestrates, and low confidence,dampening consumption and in-vestment. Growth in the westernpart of the region, excludingTurkey, is projected to slow.Poland is anticipated to slow to4 per cent as Euro Area growthslows. Growth in the easternpart of the region is also antici-pated to slow as largeeconomies including Russia,Kazakhstan, and Ukraine de-celerate.

Latin America and the Caribbean

Regional growth is projected toadvance to a 1.7 per cent pacethis year, supported mainly by apickup in private consumption.Brazil is forecast to expand 2.2per cent, assuming fiscal reformsare quickly put in place, andthat a recovery of consumptionand investment will outweighcutbacks to government spend-ing. In Mexico, policy uncertaintyand the prospect of still subduedinvestment is expected to keepgrowth at a moderate 2 per cent,despite the fall in trade-relateduncertainty following the an-nouncement of the US-Mexico-Canada Agreement. Argentinais forecast to contract by 1.7per cent as deep fiscal consoli-dation leads to a loss of em-ployment and reduced consump-tion and investment.

Sub-Saharan Africa

Regional growth is expected toaccelerate to 3.4 per cent in2019, predicated on diminishedpolicy uncertainty and improvedinvestment in large economiestogether with continued robustgrowth in non-resource intensivecountries. Growth in Nigeria isexpected to rise to 2.2 per centin 2019, assuming that oil pro-duction will recover and a slowimprovement in private demandwill constrain growth in the non-oil industrial sector. Angola isforecast to grow 2.9 per cent in2019 as the oil sector recoversas new oil fields come on streamand as reforms bolster the busi-ness environment. South Africais projected to accelerate mod-estly to a 1.3 per cent pace,amid constraints on domesticdemand and limited governmentspending.

Global Economy ToSlow To 2.9% In 2019Trade and investment weaken

AAT News Service

WORKPLACES oftensucceed when em-ployees work as a

team. Where egos and selfish-ness abound, you see very lim-ited positive outcome. Besides,the workplaces become a diffi-cult place to go to.

These days most companieshave adopted a startup-like workatmosphere where things movefast and situations become tenseand harsh. With pressure togrow sales and revenue, andthe ever-increasing benchmarksand targets, leaders and teammembers are under tremendousstress to perform.

The situations being such,stumbling blocks can come inall shapes and forms. One ofthe most common causes offailure for workplaces is whenkey team members do not co-operate with each other. Theclash could be due to differencesin opinions, characters, back-grounds and experiences. As aleader, you should nip the prob-lem in its bud.

Sometimes just one personcan spoil the atmosphere verybadly. What usually happenswith managers is that they tryto avoid such a person. That is,if they cannot get that personsacked from the team.

We take a look at similarsituations and try to offer yousome suggestions.

Understand the scope of

the problemYou need to understand thescope of the issue and how itimpacts your business and othercolleagues. Is it a one-off prob-lem, or does it have a lastingimpact? Observing the difficultteam member and evaluatingthe consequences of the prob-lem will help you find your solu-tion.

Go to the rootsIf there is an issue with a per-son, try to find the root cause

of the frustration. Is the teammember difficult to deal withbecause of his/her bad attitude,poor work ethics, or lack ofright skill sets? Remember thatconflicts maybe caused by di-vergence in views. Once youare able to figure out the actualproblem, it would be easier totackle it.

Stay coolWhen your team member re-sponds with a negative state-ment or challenges your au-

thority, stay cool. Do not getinto an argument in order to es-tablish your stand. You must beclear minded and respond ra-tionally. Your frustration will bevisible to other team members,and this may escalate the prob-lem.

ListenAs a leader, you need to hearand accept different views. Youhave to decide if that team mem-ber’s behaviour is helpful whenanalysing a situation. For ex-

ample, this ‘difficult’ team mem-ber maybe the devil’s advocateyou need when you are stuckwith tried-and-tested solutionsto a problem.

Listen to othersIs this team member also givinga headache to other members?If possible, ask others if theynotice the same behaviour.Feedback from your peers willhelp you understand the problemin a new light. If the team mem-ber and you are the only ones

butting heads, maybe it’s timeto evaluate your own behav-iour.

Follow-up, and give timeMost changes do not comeovernight, or may be short-lived.It is important to have a constantconversation with the teammember to monitor the progressof the situation.

A new book, Power YourTribe, by Christine Comaford,who has been a business lead-ership and culture coach for the

past 30 years, offers some tipsto tackle difficult persons. Amongother insights, she outlines aseven-step counselling process,called a feedback frame, fortough situations, which is para-phrased here. It will facilitateboth you and any team membercommunicating to get a sharedpositive understanding of therequirement for change and res-olution:

1. First, before diving intospecifics, set the stage.

As a manager or executive,

your pent-up emotion makes ittempting to open with an attack,which immediately puts every-one on the defensive. Instead,you should start with a summaryof your goals and objectives forthe role, and emphasise theneed for a collaborative turn-around plan.

2. State directly observeddata examples and behaviour.

Only then should you de-

scribe specific behaviours thatmust change, and provide yourspecific examples so the teammember can ‘step into’ the pastscenarios. Avoid any hearsayor anonymous sources, sincethese are likely not entirely ac-curate, and will provoke emo-tional debates.

3. Quantify the impact onthe project and other people.

Examples might include in-

stances where the team membermissed a deadline, causing theproject to fall behind, or poorresponses to a customer result-ing in lost business. These hurtthe company, as well as thespecific employee reputation. Ifnot obvious, state the correctionrequired.

4. Ask for problem acknowl-edgement and playback.

You will make no progress

until the team member agreesthat there is a problem in theirwork or behaviour, and the prob-lem now must end. If you don'thave agreement yet, it's time togo back to step one. You needthis common understanding be-fore the employee will engagein finding a solution.

5. Create a plan togetherfor a specific time period.

In a time period of 30 to 90

days, agree to meet weekly totrack progress. Make the planvery specific in terms of whatyou need to see and when you'llknow the outcome is what youwanted. Clearly state the con-sequences if the turnarounddoesn't occur (job loss or de-motion).

6. Overtly check understand-ing at this stage.

Clearly communicate yourconviction that a positive reso-lution is possible and desirable,which will make the conse-quence irrelevant. Team mem-bers often still don't fully under-stand why they need to change,or why the specifics you ask forare important to the team andthe business.

7. Jointly celebrate smallsteps and milestones.

Launch the plan, and lookfor every opportunity to acknowl-edge and reward progress,rather than focus only on fail-ures. Make sure that all con-cerned see the behaviourchange also. Verbal feedbackshould be supplemented by awritten weekly summary to theemployee, to prevent surpriseslater.

Dealing with difficult teammembers can be exhaustingand time consuming. If you re-alise that your team membersare not pleased with your man-agement, do not give up. Prob-ably you should take a look atyour policies and behaviours.Maybe there’s something youneed to change too.

How To Deal WithDifficult Team MembersDealing with difficult persons is not an easy taskfor any manager. But these tips should help you

AAT News Service

OVER 106 Central PublicSector Enterprises(CPSEs) incurred an ex-

penditure of ̀ 4,028 crore during2015-16, nearly 126 CPSEs `3,337 crore during 2016-17 and152 CPSEs ` 3,442 crore during2017-18 for undertaking CSR ac-tivities and projects, said the Min-istry of Heavy Industries & PublicEnterprises in the Lok Sabha.

As per the Corporate SocialResponsibility (CSR) provisions

of Companies Act, 2013, CSRactivities are taken up by theCPSEs on the recommendationsof CSR Committee constitutedwith the approval of boards ofrespective CPSEs.

All CPSEs qualifying for CSRexpenditure are mandated toimplement CSR activities andprojects out of the activities listedin the act in pursuance of theirCSR policy by following the pro-cedure as notified by Ministry ofCorporate Affairs in Companies(CSR Policy) Rules, 2014.

The Department of PublicEnterprises is the nodal Depart-ment for CPSEs. The CPSEsfunction under various ministriesand departments of the Centralgovernment.

8 MUMBAI, WEDNESDAY, JANUARY 16, 2019

Printed by N.R.K. Pillai and published by him on behalf of Aishwarya Publications Pvt. Ltd. and printed at M/s. Dangat Media Pvt. Ltd., 22, Digha, MIDC, TTC Industrial Area, Vishnu Nagar, Digha, Navi Mumbai-400 708 and published from 302, Eruchshaw Building, 3rd Floor, 249 Dr. D.N. Road, Fort, Mumbai 400 001. Editor: N.R.K. Pillai.

Fashion Corner

Readers are advised to make ap-propriate enquiries before enteringinto any commitment or makingpayments in relation to any adver-tisement published in this paper.Assignments Abroad Times shallnot be held responsible for any con-sequences thereon.

Publisher

AAT News Service

SUDDENLY it’s becomingcool to be a vegan. Thetrend is catching on

across the world. Of course inIndia many of us have beenpractising veganism as a reli-gious belief in many homes. Butit’s only now veganism has be-come a buzz and a cool thingto do.

The idea of veganism wasonce reserved for peace-lovinghippies. But now interest in atotally animal-free diet is at anall-time high, with celebrities likeBill Clinton, Alicia Silverstone,Jay-Z, and Beyoncé leading thecharge. But before you jump onthe no-meat-eggs-or-dairy band-wagon, you should know whatyou’re getting into.

But what we are talkingabout? What exactly is a vegandiet? A vegan diet consists ofvegetables, grains, nuts, fruitsand other foods made only fromplants. Many argue that we shouldall be making a conscious effortto reduce consumption of animalsand animal products for the sakeof our health and for the planet..

Vegan or not, a diet high infruit and veg, and plant-basedfood is a good starting point for ahealthy lifestyle. A vegan diet isgenerally thought to contain morecereals, fruits, vegetables, nutsand seeds than a non-vegan diet.

What are the reasons or ben-efits for which people choose togo vegan? The answer dependsas much on what you eat aswith any other diet. Someoneliving purely on crisps or chips,for example, would be technicallyfollowing a vegan diet, but itwould in no way be healthy.

Research has shown thatthe average vegan diet is higherin Vitamin C and fibre, and lowerin saturated fat than one con-taining meat, all of which arebeneficial. In addition, statisticsshow that vegans have a lowerBMI (height-to-weight ratio) thanmeat eaters – in other words,they are skinnier.

A diet without any meat ordairy products is likely to containa lot less saturated fat, whichis related to increased choles-

terol levels and increased riskof heart disease.

We also know that fat con-tains more calories per gramthan other foods, and so vegansmay consume fewer caloriesas a result. Finally, a vegandiet is generally thought to con-tain more cereals, fruits, veg-etables, nuts and seeds than a

non-vegan diet.But you must not forget the

problems associated with it. Byeliminating food groups from yourdiet, you are potentially at risk ofmissing out on certain micronu-trients. By avoiding animal andanimal products, a vegan diet isat risk of being low in calcium,Vitamin D, iron, Vitamin B12, zincand omega-3 fatty acids.

Therefore, if you follow a ve-gan diet it is essential that youget enough of these nutrientsthrough specific vegan foodsources – and may even needto take additional supplements.

When selecting dairy-free al-ternatives, make sure you arechoosing the fortified options,

e.g. unsweetened soya milk isa source of calcium, Vitamin B2and Vitamin B12 (which arefound in milk), and also VitaminD.

There are also many mis-conceptions associated with ve-ganism. Many people see theword vegan on the label andthey assume it must be super

healthy – wrong. Even if it’s ve-gan, it’s just as important to lookat the ingredients list and thenutrition information to see howmuch fat, sugar and salt some-thing contains.

Coconut oil is hugely popularin vegan baking and its healthbenefits are shouted about allover the place. However, it’salso worth noting that coconutoil is high in saturated fat. Thisis not to say you shouldn’t use itor it can’t be healthy in smallamounts, but too much of itcould be detrimental.

It must be said here that ifyou decide to follow a vegandiet, apply all the same principlesthat you would to any healthy

balanced diet: Eat plenty of dif-ferent fruits and vegetables,whole grains, nuts, seeds, puls-es, and make sure you are awareof the nutrients you maybe atrisk of developing a deficiencyfor.

The first thing that someonestarting a vegan diet might noticeis an energy boost with the re-

moval of the processed meatthat is found in many omnivorousdiets, in favour of fruit, vegetablesand nuts. These foods will boostyour vitamin, mineral and fibrelevels and thinking ahead aboutyour meals and snacks ratherthan relying on conveniencefoods can help sustain consistentenergy levels.

As time without animal prod-ucts grows into weeks, there islikely to be a shift in bowel func-tion either towards a more reg-ular, healthy pattern or an in-crease in bloating, wind andloose motions. This is due tothe higher fibre content of a ve-gan diet and the simultaneousincrease in carbohydrates that

ferment in the gut and can causeirritable bowel syndrome.

This may settle eventuallyand could lead to some positivechanges in the diversity of thebacteria in the colon, dependingon whether a vegan diet is madeup of processed food and refinedcarbohydrates or is well plannedand balanced.

Although not proven yet, sci-entists believe that a high speciesdiversity for gut bacteria couldbe beneficial for the whole sys-tem, in the same way thatecosystems are stronger as aresult of lots of different typesof species thriving.

Traditionally, research intovegetarianism focussed mainlyon potential nutritional deficien-cies, but in recent years, thependulum has swung the otherway, and studies are confirmingthe health benefits of meat-freeeating. Nowadays, plant-basedeating is recognised as not onlynutritionally sufficient but alsoas a way to reduce the risk formany chronic illnesses.

You can get many of thehealth benefits of being vege-tarian without going all the way.Even if you don’t want to becomea complete vegetarian, you cansteer your diet in that directionwith a few simple substitutions,such as plant-based sources ofprotein – beans or tofu, for ex-ample – or fish instead of meata couple of times a week. Onlyyou can decide whether a veg-etarian diet is right for you.

Is Vegan Worth Pursuing?Being vegan isbecoming cool.That explains why many todayare taking thisroad with passion.But what are the pluses andminuses?

CSR activities of CPSEs

From Page 1

IF you have just en-tered the workforce, itis time to start saving

and investing yourmoney to maximise yourwealth. Starting your in-vestment journey earlyhelps you correct yourmistakes sooner.

If you are in your early20s, you should start sav-ing and investing and usethe power of compound-ing to grow your wealth.It is not only the savings,but also the power ofcompounding that canwork in your favour.

Did you know that ifyou save for your retire-ment from your first job,you need less money toinvest to build a largerkitty? It is called thepower of compounding.Also it is one of the mostcommon mistakes thatpeople make – ignoringyour retirement goals. Manage your money

Inability to spend time onmanagement and over-looking the details hasthe potential to derail theentire process. Most pro-fessionals tend to spendlonger hours at theirworkplace.

In fact, an averageemployee in India works3,315 hours a year, thehighest in the world, ac-cording to the findingsof a 2018 study by Swissinvestment bank UBS.Longer work hours fol-lowed by longer com-mute hours can leaveyou with little time to han-dle your finance.

Manage your debt

By nature we all hatedebt. We would rather beclear of debts in our lives.But debt we all end uphaving as we buy houses,cars and other aspira-tional goods. But theproblems arise when debtbecomes the master, not

the other way around.Here’s how to stay incharge.

Keep your total debtload manageable. Don’tconfuse what you canborrow with what youshould borrow. Keep themonthly costs of owninga home (principal, inter-est, taxes and insurance)below 28 per cent ofyour pre-tax income andyour total monthly debtpayments (includingcredit cards, auto loansand mortgage payments)below 36 per cent ofyour pre-tax income.

Try to eliminate high-cost, non-deductible con-sumer debt. Try to payoff credit card debt andavoid borrowing to buydepreciating assets, suchas cars. The cost of con-sumer debt adds upquickly if you carry a bal-ance. Consider consoli-dating your debt in a low-rate home equity loan orline of credit. Set a real-

istic budget and have aplan and a schedule topay it back.

Rebalance yourportfolio

We all share the goal ofgetting better investmentresults. But researchshows timing of marketsis difficult and can becounter-productive. Socreate a plan that will helpyou stay disciplined in allkinds of markets. Followyour plan and adjust itas needed.

Be aware of therisks ahead

Risks are associated withpractically all invest-ments. Do not panic ifrisks play out in your life.We know risk is a part oflife, particularly in invest-ments and finance. Yourfinancial life can be up-ended by all kinds of sur-prises – an illness, job

loss, disability, death, nat-ural disasters or lawsuits.

If you don’t haveenough assets to self-in-sure against major risks,make a resolution to getyour insurance needscovered. Insurance helpsprotect against unfore-seen events that don’thappen often, but are ex-pensive to manage your-self when they do.

Diversify yourportfolio

Diversification is importantfor insulating your invest-ments against volatility inthe market. If your invest-ments are concentratedprimarily in one particularasset class, you’re puttingthe rest of your portfolioat risk if that market sectorexperiences a downturn.

If your investmentslack variety, injectingsome new blood into yourholdings should be onyour to-do list.

Start investing earlyand for long term