India

Bringing ATF under the Goods and Services Tax (GST) has been a long pending demand of the airline industry With strong fundamentals, India's civil aviation sector is in its "golden age" and there is also healthy competition among domestic carriers, IndiGo CEO Ronojoy Dutta has said. Interestingly, the country's civil aviation sector has been experiencing lower growth in traffic compared to previous years and there has also been softness in fares in October, according to industry experts.…


Tata Sons chairman N Chandrasekaran's comments came a day after a media report said that half of the thermal power plants in the country the largest source of power are shutting down Tata Sons chairman N Chandrasekaran on Sunday pitched for the privatisation of power distribution companies, and also for ensuring that every generation plant is operational to help the power sector. Without prescribing any solutions, he said stress in the telecom sector also needs to be addressed and added that rea…


2019-11-18

I am the karta of a Hindu Undivided Family (HUF) along with both my sons, who have two children each. Can I use HUF funds to give gifts to my children and grandchildren? Can I draw interest-free loan from it? If both of the above are allowed, then what are the tax consequences? —Name withheld on request From an income tax perspective, there is no restriction on giving gifts to members of the HUF and receiving interest-free loans from the HUF or the members of the HUF. Further, there shou…


NBCC and Suraksha Realty have submitted their revised bids to acquire Jaypee Infra under insolvency process State-run construction company NBCCNSE 0.27 % and realty developers Suraksha Realty have submitted their respective revised bids to acquire debt-stressed Jaypee InfratechNSE -4.00 % under the insolvency process.Suraksha Realty has upped its offer to Rs 7,900 crore to lenders and possession in 3 years to over 22,000 homebuyers. In the earlier round of bidding, Suraksha had offered Rs 5,000 …


The centre has initiated development projects worth ₹50,000 crore in the Union Territory of Ladakh, according to Home Minister Amit Shah. Speaking at an event to mark the launch of special winter-grade diesel for Ladakh, Shah said that the Government of India has initiated a number of development projects for Ladakh in power, including solar energy, education and tourism, at an estimated investment of ₹50,000 crore. He said that keeping in view the special development requirement of the re…


New scheme likely for wholesale at Rs 25 lakh; proposals could figure at RBI board meet Bank deposit insurance in the country may be split into two categories, with retail cover being raised to Rs 5 lakh, from the current level of Rs 1 lakh; and a new scheme being introduced for wholesale depositors at Rs 25 lakh. When given effect, it will be the first upward revision in deposit insurance after 1993. The last reset was on May 1, 1993, after the Bank of Karad went down in the securities scam of …


Taking a long-term view of the Indian economy, Gates said the country has the potential for "very rapid" economic growth over the next decade which will lift people out of poverty and allow the government to invest in health and education priorities in an 'exciting way' Billionaire philanthropist and Microsoft co-founder Bill Gates has said  India has the potential for "very rapid" economic growth over the next decade which will lift people out of poverty and allow the government to invest in h…


2019-11-18

Leading commercial property developers in India such as DLF Ltd, Prestige Group, Embassy Group, RMZ Corp., K Raheja Corp. are looking to raise funds to expand their portfolio, pare debt and monetize their assets at a time of high institutional investor interest in office projects. The companies are looking to raise equity as well as debt, either through private equity (PE) firms and global investors, or through a real estate investment trust (REIT). DLF, India’s largest real estate firm, is …


To increase the flow of foreign funds, govt may ease restrictions on FDI by JVs or WOS of an Indian company In a bid to ease the flow of foreign funds into legitimate business activities, the government may soon ease restrictions on foreign direct investment (FDI) by joint ventures (JVs) or wholly-owned subsidiaries (WOS) of an Indian company without categorising such investments as "suspect" involving 'round tripping' of funds.The existing legal framework under FEMA does not permit FDI by an ov…


According to the latest depositories data, overseas investors infused a net amount of ₹14,435.6 crore into equities and ₹4,767.18 crore into the debt segment Foreign portfolio investors (FPIs) pumped in a net sum of ₹19,203 crore into the domestic capital markets in the first half of November amid encouraging domestic and global factors.....


Essar Steel, Adani Group and state-owned GAIL have bought majority of natural gas from Reliance Industries’ newer fields in the KG-D6 block at an indicative price of $ 5.04 - 5.16 per unit, industry sources said. Essar Steel picked up 2.25 million standard cubic meters per day or about half of the available volumes in the day long auction conducted on November 15. Gujarat State Petroleum Corp (GSPC) picked up 1.2 mmscmd while Adani Group, Mahanagar Gas Ltd and GAIL bought 0.3 mmscmd each, sour…


Fumes over creditor panel giving more time for bidding at Rjio’s request Bharti Airtel has withdrawn its bid to acquire the assets of Reliance Communications after lenders agreed to extend the deadline for submitting the bids by 10 days. The extension was given on the request of Reliance Jio. According to Airtel, such a move was unfair as the lenders had earlier rejected its request to extend the deadline. In a communication to the resolution professional handling Reliance Communication’s i…


The sheer enthusiasm, vigour, and even artificially fuelled excitement-funding-blinds the typical entrepreneur of the planning imperative One of the worst advises to be given to an entrepreneur is ‘just do it’, and yet it remains as one of the most offered. There are more upstarts that have doomed by just doing it than those who haven’t. The sheer enthusiasm, vigour, and even artificially fuelled excitement (read funding) blinds the typical entrepreneur of the planning imperative, and, ala…


From stepping foot in New York, Cambridge, Dublin, London, Australia, the world is surely his stage with live shows all across the globe. But the firecracker didn’t have this fine start from day one. His weirdass journey has been nothing less than a rollercoaster where he found himself and the ways to have fun to make himself ready for his next success. There is a time in everyone’s life where we are struggling to make ends meet, and looking for the meaty roles especially cut out for us, but…


A defence official said this was the first time that the sophisticated missile was testfired at night India on Saturday conducted successfully the first night trial of 'Agni-II', its versatile surface-to-surface medium range nuclear capable missile from Dr Abdul Kalam Island off Odisha coast, defence sources said. The missile has a strike range of 2000 km, the sources said soon after it blasted off from a mobile launcher at the Launch Complex-4 of the Integrated Test Range (ITR), the sources sai…


With regard to deposit guarantee insurance limit hike, Sitharaman said it may not be part of cooperative bank legislation but part of some other laws In a relief for crores of depositors, Finance Minister Nirmala Sitharaman on Friday said the government would bring legislations on raising insurance cover on bank deposits from the current Rs 1 lakh  in the wake of fraud in PMC Bank. The RBI in September imposed restrictions on the lender after PMC Bank did not classify Rs 2,500-crore loan to rea…


2019-11-17

To safeguard the interest of workers in formal sector, particularly working class, the Centre is planning to introduce ‘One Nation, One Pay Day’ system, Labour Minister Santosh Gangwar said on Friday. “There should be a pan-India single wage day every month across various sectors to ensure that workers get timely payment of salaries. Prime Minister Narendra Modi is keen on this legislation to get passed soon. Similarly, we are also looking at uniform minimum wages across sectors which will…


The new consensus among experts is that India's economy is deflation-bound A long-held belief of analysts in India is that the economy is supply-constrained. Demand isn’t even worth a footnote, while a temporary squeeze in the onion market deserves obsession because it could be inflationary.It’s increasingly obvious that this view is outdated. In October, inflation quickened more than expected to 4.62% because of, yes, an onion shortage. Yet core inflation, which strips out volatile commodit…


Of the recent high-profile SC judgments, the one that got the least media attention was the most far-reaching Of the recent crop of Supreme Court verdicts, the one that got the least media attention, striking down the merger and reconfiguration of assorted tribunals, was the most consequential for India’s democracy. The Ayodhya verdict got the most attention, naturally.While the Supreme Court managed to salvage a judicial verdict, albeit based on a “preponderance of probabilities” construe…


Anil Ambani has resigned as the director of Reliance Communications. The move comes even as lenders to the telecom company are looking to sell RCom assets. The company is now being managed by a resolution professional.  Ambani's resignation marks the end of his telecom ambitions. Anil had got the telecom venture as part of an agreement with his elder brother Mukesh Ambani to settle a family dispute between the two. Mukesh later started his own telecom venture, Reliance Jio, which is now one the…


Middle East

2019-11-18

Agricultural development and environmental sustainability in Saudi Arabia will receive a boost in the coming years, thanks to a new agreement between the International Center for Biosaline Agriculture (ICBA) in Dubai and the Saudi Ministry of Environment, Water and Agriculture. The agreement aims to enable Saudi Arabia to achieve its goal of preservation and sustainable management of its natural resources by raising the quality of biosaline agriculture research and systems. The ministry says tha…


2019-11-18

Defectless, a six-month-old lifestyle brand, is inspired by revealing hidden beauty. It started by highlighting the diversity of Saudi Arabia’s landscape. Unlocking the once-hidden treasures and memorializing them into contemporary and sustainable art pieces.“I want to create pieces that are not only aesthetically beautiful, but that tell stories of people and places and inspire human progress,” 24-year-old artist Miraim El-Maoula told Arab News.“That is why I am so inspired by what’s …


2019-11-18

 Investment professionals and energy experts delivered a mainly enthusiastic response to the pricing of shares in Saudi Aramco and the overall valuation of the biggest oil company in the world at between $1.6 trillion and $1.7 trillion. Al Mal Capital, a Dubai-based investment bank, said that it was positive on the Aramco initial public offering (IPO) on that kind of valuation, which it said was justified by the financial metrics. “We believe Aramco’s IPO is a central pillar of Saudi Arabia…


2019-11-18

New rotorcraft terminal to be established in Dubai next year in proximity of Expo 2020 supporting helicopter transport operations to and from the site The innovative concept will bring similar comforts and services to a private airport and will also open new point-to-point opportunities   The AW609 tiltrotor will be on display beside the terminal showing the unique advantages of the world’s fastest commercial rotorcraft paving the way for a new era in point-to-point connections    Leonardo…


Etihad Airways and Boeing on Monday announced a first-of-its-kind "eco partnership", in which a specially-themed Boeing 787 Dreamliner will be used to test products, procedures and initiatives designed to reduce aircraft carbon emissions. The Etihad Greenliner, to be introduced early next year, will be used by both companies to explore and assess environmental sustainability initiatives while the aircraft operates scheduled services across the airline’s network. Other stakeholders, from equipm…


2019-11-18

Roads and Transport Authority (RTA) and Majid Al-Futtaim (MAF) Group recently renewed their partnership for the naming rights of Mall of the Emirates and Deira City Centre Metro Stations. The renewal is a clear testament of the benefits reaped by both parties over 10 years of a fruitful partnership.  Abdul Mohsen Ibrahim Younes, CEO of RTA’s Rail Agency was delighted with the extension of the partnership agreement following a decade of success since the naming of Mall of the Emirates and Deir…


2019-11-18

Airbus is considering the production of a corporate jet "based on A380," the world's largest passenger airliner, according to a top company official. The aerospace and defence giant announced earlier this year that it will stop deliveries of double-deck A380 in 2021. "It’s a question of having an aircraft that is efficient and having to fill it in [with passengers] ... Today, the A380 is doing a great job. There is a possibility of having a corporate jet based on A380 one day," David Velupilla…


2019-11-18

Announcement made during H.E. Al Hashimy’s address at 5th Global Business Forum Africa in Dubai  Dubai Chamber to host 33 events during Expo 2020, including 30 Country Focus Briefings, the next editions of GBF Africa and GBF Latin America and the first GBF ASEAN  H.E. Buamim: We look forward to hosting several high-level forums and events during Expo 2020 that will offer an ideal platform for facilitating business exchange and cross border cooperation   Dubai, UAE: Dubai Chamber of Co…


2019-11-18

‘The Diamond Terminology Guideline’ is now available online in Arabic, and is endorsed by the world’s leading diamond industry organisations DMCC was commissioned to produce an Arabic document that sets a universal standard for communicating about diamonds and laboratory-grown diamonds The publication is in response to demand from the dynamic and growing diamond sector in Dubai, the UAE, the Middle East and beyond   DMCC – the world’s flagship Free Zone and Government of Dubai Author…


2019-11-18

The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM FSRA) and the Croatian Financial Services Supervisory Agency (HANFA) have signed two Memoranda of Understanding (MoUs) to enhance their regulatory collaboration in the areas of financial technology (FinTech) and Investment Management. The MoUs were signed by Mr. Ante Žigman, President of the HANFA Board, and Mr. Philippe Richard Executive Director of International Affairs of the ADGM FSRA in Abu Dhabi. The Agree…


2019-11-18

- Global Business Forum Africa Kicks off 5th edition in Dubai Dubai’s non-oil trade with the continent stood at AED 926 billion in the 2011-2018 period Dubai is Africa’s gateway to new markets, building on its strong presence on the global economy map and its role in advancing international trade GBF Africa has become a leading platform for expanding UAE-Africa economic cooperation and forging partnerships Africa is a market of strategic importance to Dubai and a key focus of Dubai C…


2019-11-18

Spectacular procession filled the skies as a centrepiece celebration of the UAE’s aviation and aerospace advancements The Emirates A380, the UAE airline’s flagship commercial aircraft, soared through the skies in an unprecedented flypast procession today, kicking off the 2019 edition of the Dubai Airshow. Spectators and aviation enthusiasts were able to watch a spectacular formation of 3 Chinook, 3 Black Hawk and 3 Apache helicopters, opening the way for the Emirates A380, closely followed …


2019-11-18

Roads and Transport Authority (RTA) has launched the third edition of Kiswat Khair (Clothes for Good) initiative at the Celebration Walk at the Global Village in Dubai. The initiative aims to diffuse the spirit of volunteering in the UAE community through unconventional means by re-conditioning used clothes and distributing them to the needy in sisterly and friendly countries.  “The inaugural edition of Kiswat Khair initiative had reconditioned about 20 thousand pieces of clothes, and the num…


  [Entrepreneur Middle East Staff] On the sidelines of GITEX, we ask entrepreneurs how they deal with rejection. Held from September 27-October 1, 2019, GITEX Technology Week 2019 gathered more than 100,000 visitors and 4,500 exhibitors to discuss major trends and opportunities in the regional and global tech landscapes. On the sidelines of GITEX 2019, we ask entrepreneurs how they deal with rejection on their entrepreneurial journey. Sharing their insights are the entrepreneurs behind Azaa…


2019-11-17

Talal Al-Obailan has been the director of corporate communications and marketing at the General Authority of Civil Aviation (GACA) since November 2018. Before then he was GACA’s director of marketing and communications. Prior to joining GACA, Al-Obailan served at other government institutions including the Ministry of Commerce and Investment and the Saudi Commission for Tourism and National Heritage (SCTH).....


2019-11-17

The Blackstone co-founder talks about his career at the top of the financial tree — and Saudi Arabia’s ambitious transformation plans  I must confess I was a little nervous about telling Stephen Schwarzman, co-founder and CEO of the gigantic financial group Blackstone, that I had not read every single word of his recently published book “What is Takes — Lessons in the Pursuit of Excellence.” Ahead of our intercontinental conference-call interview, his aides had told me that he could w…


2019-11-17

Over 25 Saudi companies and government institutions are taking part in the Dubai Airshow hoping to snag deals for their latest defense and aviation technologies being showcased at the biennial event. The Middle East’s biggest aviation gathering opened on Sunday sans major announcements for big-ticket aircraft purchases from Gulf flagship carriers, maybe also due to dozens of deals already been previously signed and the planes just waiting to be delivered. Among the major Saudi companies in the…


2019-11-17

DUBAI WATCH WEEK This year’s edition of Dubai Watch Week celebrates two of the industry’s biggest progress drivers; innovation and technology. The intersection of radical thought coupled with enhanced technical ability has impacted progress in watchmaking not just technically speaking, be it the transportation of clock movements into wristwatches, to producing pieces that can be lifted thousands of miles into the air or hundreds of meters underwater or to watches that now connect with mobi…


Billions of dollars worth of deals are expected to be signed at Dubai Airshow 2019 this week. The biennial event at Dubai World Central, which takes off today, is predicted to attract over 1,300 exhibitors and up to 87,000 aerospace professionals across its five-day run. Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, made an onsite tour of the Dubai Airshow 2019 on Saturday to inspect the preparations for the big event......


From a desert outpost to a sprawling metropolis boasting the world’s biggest long-haul airline, Dubai has long epitomised rapid growth, and its biennial air show has typically mirrored that quest with record-breaking plane orders. But the last two years haven’t been easy on the aviation industry or the global economy, turning the event, which starts Sunday, into a barometer for future demand. Boeing’s 737 Max, a star at the 2017 gathering, is grounded following two fatal accidents. The Air…


South East Asia

Komodo Island in East Nusa Tenggara (NTT) is set to become a premium tourist destination with the local authority finalizing a plan to raise ticket prices and upgrade the local airport to serve international routes. The plan to make Komodo Island a premium destination has been pursued after the central government began looking for ways to limit tourist numbers on the island through ticketing. Labuan Bajo Flores Tourism Authority head Shana Fatina Sukarsono said the term “premium” was fittin…


On one day in April next year, residents instead of cleaners will be tasked to clean up the city-state, to raise public awareness of the 21,000 tonnes of rubbish generated every day by the wealthy, convenience-minded nation of 5.8 million people. If Singapore residents could see the amount of rubbish the wealthy city-state generates in a single day, maybe they would dispose of their trash more responsibly and reduce how much they consume. That’s the idea behind CleanSG Day, an initiative fr…


2019-11-18

Japan’s Watabe Wedding Corporate recently signed an agreement with Empire Group Việt Nam to organise wedding ceremonies for 1,000 Japanese couples in the latter’s Cocobay Complex in Đà Nẵng in the next three years, and the figure is expected to increase to 16,000 in the next 10 years. This year, Watabe has already organised 120 weddings at Empire Group’s properties. Why is one of Japan’s leading providers of marriage services tying up with Empire Group? The latter’s properties li…


2019-11-18

Ho Chi Minh City always attaches importance to promoting ties with Chinese localities, said Vice Chairman of the municipal City People’s Committee Vo Van Hoan on November 15Ho Chi Minh City always attaches importance to promoting ties with Chinese localities, said Vice Chairman of the municipal City People’s Committee Vo Van Hoan on November 15.The official made the remark while hosting a reception for Vice Governor of China’s Yunnan province Li Malin, who is on a working visit to the city…


2019-11-18

New-age carrier Vietjet has been awarded the title of Asia Pacific Low-Cost Airline of the Year by the Centre for Asia-Pacific Aviation (CAPA). The awards ceremony took place during the CAPA Asia Aviation Summit on November 14 -15, 2019 in Singapore Surpassing all of its peers in the Asia-Pacific region, the CAPA awards aims to annually acknowledge the airlines that has been the biggest standout strategically, established itself as a leader, and has been the biggest innovator, providing a benchm…


2019-11-18

Up to 9.1 tonnes of potential plastic waste was being dumped into the Vu Gia-Thu Bồn River basin, one of nine largest river systems in Việt Nam, each day, equating to 2,600 tonnes each year. The information was included in a report on waste management released by a group of experts at a workshop themed ‘Foundations for Source-to-Sea Management: Addressing Solid Waste in Vu Gia-Thu Bồn River Basin" in Hội An late last week. Vũ Thu Hà from the International Union for the Conservation…


2019-11-18

Chairman of Vingroup Pham Nhat Vuong has been named among the top 50 theme park influencers in the world for his innovation and creativity in the global theme park industry in 2019  Chairman of Vingroup Pham Nhat Vuong has been named among the top 50 theme park influencers in the world for his innovation and creativity in the global theme park industry in 2019. Vuong is the first Vietnamese person honoured by Bloobloop, a leading online resource for professionals working in the visitor at…


2019-11-18

The Department of Trade and Industry (DTI) has partnered with Duty Free Philippines Corp. to launch a retail store to promote Philippine designer brands.   Unveiled last Friday, the store called Marahuyo by GoLokal!  occupies a 50-square meter space designed by creative director Budji Layug at the Duty Free Philippines Luxe Mall within the Mall of Asia Complex to serve as a marketing and design platform where Philippine brands will be promoted collectively.   “Marahuyo was borne out of our …


A MALAYSIAN company has pledged to invest up to $2 billion to put up 12 waste-to-energy (WTE) facilities in the Philippines in partnership with Filipino company Integrated Green Technology, Inc. (IGT) and a French technology provider. Michael C. Jimenez, chief executive officer and president of IGT, identified the Malaysian firm as PhilSar Renewable Energy Sdn Bhd. and the French group as CNIM Martin Pte Ltd. (CMPL), his partner in at least three WTE projects in the Philippines that have forged …


2019-11-18

The Bangko Sentral ng Pilipinas (BSP) has granted provisional certificates of registration to eight more operators of payment systems as the government ramps up the country’s transformation to a cash-lite economy. Given the green light to operate payment systems this month were Euronet Technology Services Inc., Primepay Inc., Philippine Clearing House Corp., Pay Myeg Philippines Inc., Molpay Philippines Inc. GPay Network PH Inc., Microbitz Solutions Inc., and AltPayNet Corp. This brings to 18 …


THE infusion by Paris, France-based Proparco SA in a private equity fund in Manila is expected to bankroll the local operation of several middle-market firms and allow thousands of workers to stay employed. Proparco, the French Development Agency’s private-sector financing arm, has poured in $15 million (about P758.643 million) in private equity firm Navegar Fund II LP. The capital inflow is expected to finance the growth of six to eight middle-market firms in the country and sustain the emplo…


MANILA MAYOR Francisco Moreno Domagoso said he is currently in talks with the private sector on his plans to put up modern phone booths offering free calls and WiFi access, particularly in the University Belt (U-Belt) area. “I am now talking to the private sector if they can provide such facilities particularly in the U-Belt area; and I hope in the coming weeks, there will be more public free access to communication in two things: the old-school way, by calling for free, and the new technology…


2019-11-18

All politics is local. All economics is local too. Running a province or a city is pretty much like running a country minus the armed forces and foreign affairs. In a sense, Bohol is lucky to have a governor who was once a Cabinet member and a member of Congress. Art Yap has a good idea of the big picture from agriculture to infrastructure. His nine years in Congress representing his province also gave him the ability to translate big picture concerns to local. In the course of our freewheeling …


BOUTIQUE property developer Italpinas Development Corp. said it will still focus on emerging locations for its projects to keep ahead of its much larger competition. “We want to expand in other locations and consider broadening our scope in real-estate products offered, according to opportunities presented in delivering our unique development philosophy with key markets,” Romolo Nati, the company’s chairman and CEO, said. “We focus on emerging locations ahead of competition,” he said..…


THE PHILIPPINES’ relatively fast economic growth remains a compelling proposition for investors notwithstanding the recent slowdown, bankers said in a forum late last week, citing particularly the lure of the government’s infrastructure push. “Some of our economies are growing at less than three to four percent compared to the Philippines’ economy growing at 6.2[%], so clearly there are opportunities for us to get involved,” Asian Bankers Association President Antonio Jonathan Alles, m…


2019-11-18

The Philippine Stock Exchange Inc. (PSE) has introduced a platform that seeks to encourage more investors to participate in initial public offerings (IPOs). The PSE launched the mobile application of its IPO subscription platform for local small investors (LSIs) called the PSE Electronic Allocation System (PSE EASy). PSE president Ramon Monzon said the local bourse hopes that with the mobile app, more investors would participate in the market especially with the string of IPOs expected to happen…


MALAYSIAN offshore support vessel builder Nam Cheong plans to redevelop the facilities on a 7.3-hectare site in Labuan, Malaysia, for a shipyard and training centre. The mainboard-listed company on Monday said its wholly-owned subsidiary, Nam Cheong Dockyard (NCD), has signed a memorandum of understanding with Labuan Corporation, an agency under the Ministry of Federal Territories, to lease the land. NCD will turn the existing Labuan Halal Hub Complex in Kiansam into an integrated marine enginee…


With help from Enterprise S'pore, firm has driven up output, made inroads in Myanmar Local bus manufacturer SC Auto, which embarked on a transformation journey five years ago, reached a major milestone last month when its SC Neustar buses started running on the roads in Myanmar. This came just 10 months after the launch of the first bus to be completely built and designed in Singapore last December.......


The task of tackling the PMD scourge is the latest regulatory headache confronting Singapore’s transport policymakers Read more at https://www.channelnewsasia.com/news/singapore/the-big-read-escooter-footpath-ban-where-go-from-here-12099792


THE Singapore Exchange (SGX) on Monday said it has won an "Exchange of the Year" award for excellence for the second year running.  Given out by Regulation Asia, which tracks and analyses financial regulation across Asia, the award recognised SGX for its targeted approach to market regulation, and for demonstrating a commitment to moving to a ‘community’ approach. SGX was also noted by the judging panel for its willingness to work with the industry to raise standards across the board. This …