HENCY R SHAH AND ASSOCIATES

India Loses Billions of Dollars Due to Internet Shutdowns Internet shutdowns are a growing problem around the world. In 2022, there were 114 major deliberate internet outages in 23 countries, affecting 710 million people. These shutdowns had a significant economic and social impact. A study by Top10VPN found that internet shutdowns in 2022 cost the global economy $24.67 billion. This includes losses in productivity, tourism, and foreign investment. The shutdowns also had a negative impact on education and healthcare, as people were unable to access online resources. India lost $1.9 billion in the first half of 2023 due to internet shutdowns. It also found that the shutdowns also led to the loss of 21,000 jobs and $11.8 million in foreign direct investment. The most affected country in 2022 was Russia, which suffered a loss of $21.59 billion due to internet shutdowns. This was followed by Myanmar ($1.09 billion), Iran ($773 million), and India ($582.8 million). The study also foun...

Professionals under PMLA On May 3rd, 2023, the Central Government issued a notification bringing practicing professionals in the field of Chartered Accountancy, Company Secretaries, and Cost and Works Accountants under the ambit of the Prevention of Money Laundering Act (PMLA) if they execute any financial transactions on behalf of clients. This notification has been issued under sub-clause (vi) of clause (sa) of sub-section (1) of section 2 of the Prevention of Money-Laundering Act, 2002 (15 of 2003). The following financial transactions carried out by a relevant person on behalf of his or her client, in the course of his or her profession, will be considered an activity for the purposes of the PMLA: 1. Buying and selling of any immovable property. 2. Managing of client money, securities, or other assets. 3. Management of bank, savings, or securities accounts. 4. Organization of contributions for the creation, operation, or management of companies. 5. Creation, operation, or managemen...

"What are the Ideal Working Hours for Achieving Work-Life Balance?" - How Can You Find the Perfect Balance? Are you tired of feeling burnt out and overwhelmed from working long hours? Do you find it challenging to balance your work and personal life? If so, then you're not alone. Achieving a healthy work-life balance is essential to living a fulfilling life, and finding the ideal working hours can help you achieve this balance. According to research, working for more than eight hours a day can lead to stress, fatigue, and burnout. Therefore, it's important to find the right balance between work and personal life to maintain a healthy lifestyle. But what are the ideal working hours for achieving work-life balance? Well, the answer isn't straightforward, as it can vary from person to person. However, experts recommend working no more than 40 hours per week, or eight hours per day, five days a week. This can help individuals avoid overworking, reduce stress, and impr...

IMF, World Bank sound alarm about global economic outlook T he International Monetary Fund, World Bank and others raised concerns about a worsening global outlook, while hopeful that China’s reopening will help support world growth. IMF Managing Director Kristalina Georgieva said indicators show further downgrades to global growth are likely. Speaking Friday after a meeting with China’s Premier Li Keqiang in Anhui province, Georgieva said China’s recalibration of its Covid policies would be a good thing for the domestic economy and the rest of the world. The IMF currently forecasts global growth will be 2.7% next year, slowing from 3.2% this year. The meeting was part of the “1+6” dialogue that China holds every year with heads of the IMF, World Bank, OECD, World Trade Organization and others. David Malpass, head of the World Bank, was also downbeat about the global outlook. "I’m deeply concerned that the world is at risk of a global recession,” Malpass said, warning of the potent...