Latest news with #post-Covid-19
The Star
3 days ago
- Business
- The Star
Restore the sparkle to Ipoh's riverwalk
ONCE a bustling hub in the heart of the city, Kinta Riverwalk, located along the scenic Sungai Kinta in Ipoh, Perak, has lost its charm. First built in 2010 by a local developer, it underwent a RM4mil refurbishment by Ipoh City Council (MBI) in 2022, turning it into a picturesque promenade offering various attractions and activities. However, its condition has deteriorated in the past two years, leaving the area dimly lit and poorly maintained. Radiographer M. Yuvanesan, 33, expressed his dismay over the decline in popularity and the feeling of insecurity now associated with the place. 'The area is quite dark and the walkway near the river needs extra care, especially since children use it,' he said. 'It looks unkempt, like a jungle, leaving visitors feeling unsafe. 'The authorities need to upgrade the area,' said Yuvanesan. Ali Ikram, 45, a businessman who enjoys jogging along the riverbank, reminisced about the area's golden days. The first part of the Kinta Riverwalk redevelopment project covers a 1.6km stretch along the Sungai Kinta reserves between the Jalan Raja Musa Aziz bridge and Jalan Lim Bo Seng bridge. 'It used to be lively in the mornings and evenings. 'Poor maintenance has led to fewer visitors. The city council should restore this area to its former glory,' he urged. Robin Yap, 31, who manages an amusement shop offering kiddy rides, noted that business had not been the same since the initial post-Covid-19 pandemic boom. 'It was booming after the lockdown ended, but now, people prefer newer attractions elsewhere,' he said, adding that the flooring was in poor condition. 'People have slipped and fallen here, including myself. The city council needs to address this issue,' said Yap. Zaril Izaidi Jamarudin, 34, head of operations at a well-known eatery, agreed that the area had become gloomy. Cracks on the walkway near the eateries pose a hazard to visitors. 'Despite having an established market here, there is a need for a revamp. 'MBI should bring in more activities like live performances,' he suggested. Another eatery owner, who declined to be named, expressed disappointment in the lack of support from the state government and local authorities. 'Even during Visit Perak 2024, not a single event was held here. Many shops have closed down,' she lamented. 'It is supposed to be a tourist spot, but we are not being supported.' She has invested about RM300,000 in her business, struggling with maintenance costs for her ice-cream and coffee machines. 'Business is slow because there are no customers, primarily because it is too dark,' she said. 'I have installed lights on my own to show that we are still operating. 'Our customers are mainly tourists, but they have stopped coming because the place feels unsafe and abandoned at night. 'I really hope that there can be solutions to the issues we have raised,' she added. Cafe barista Muhd Aiman Hakimi, 19, had to adjust his business hours due to a lack of customers. 'Everything has slowed down. We used to earn RM3,000 a day, but now it is hard to even hit RM1,000,' he said, attributing the decline to a lack of morning crowds. 'The city council needs to revamp the area and carry out proper maintenance. 'They need to take action as this place is no longer attractive and there are fewer vendors here,' he added. The amusement park at Kinta Riverwalk used to be a hive of activity at night, butnow faces dwindling customers. Tourist attraction Kinta Riverwalk, previously known as the Kinta Riverfront Park, was built by Morubina Sdn Bhd, the developer of Kinta Riverfront Hotel and Suites. Opened in 2010, it was said to have cost about RM30mil and was meant to be one of the major tourist spots for the city. It boasted various eateries and would also have frequent bazaars selling souvenirs and other trinkets, colourful LED-lit trees and also mini replicas of famous world bridges. It had slowly declined over the years before the city council came in to redevelop the area in 2021 to complement the Ipoh Heritage Trail initiative. Muhd Ikhwan: Creativity and marketing are key to winning back customers. The refurbished area was launched in early 2022 and had glow-in-the-dark bridges, entertainment space for children and also shops selling food, arts and crafts. And as part of an effort to boost Ipoh's tourism sector, the Northern Corridor Implementation Authority was also involved in helping to redevelop the area with better pedestrian access and landscape. This redevelopment was part of the Ipoh Special Area Plan, Ipoh Walkable City and Ipoh Local Plan (2035). The project was divided into three phases, with the first part covering a 1.6km stretch along the river reserves between the Jalan Raja Musa Aziz bridge and Jalan Lim Bo Seng bridge. The second phase covered a 195m stretch between the Jalan Lim Bo Seng bridge and Jalan Sultan Idris Shah bridge, while the third phase, between Jalan Sultan Idris Shah and Lorong Hale near Ipoh Old Town, stretched to about 280m. In May 2022, there was an incident which saw a young child falling into the Kinta River while riding an electric toy car there. The child was rescued by the parents and the public. Muhd Aiman says business has slowed down. MBI had then ordered for the company to cease operations while the matter was being investigated. And since then, the number of visitors to the area started to decline. Competing or complementing? Some business owners believe the decline in foot traffic is due to stalls at the nearby DR Seenivasagam Recreational Park (Taman DR) attracting more visitors. A trader who wanted to be known only as Zulkifli, 70, noted that since the stalls began operating, visitor numbers at Kinta Riverwalk have declined. 'The riverwalk used to be lively at night. 'Ever since the city council took over the management of the area about several years ago, it has gone downhill,' he said. A 45-year-old business owner highlighted the difficulty of surviving amid competition. One of the bridges at the Kinta Riverwalk which used to have glow-in-the-dark features. The mayor says the bridge will be decorated with lights. 'We pay about RM2,000 in rent, but at Taman DR, they have lower rent and better business,' she pointed out. 'We used to have 14 shops, but now only five remain open. 'We tried our own marketing, but it is not enough. The crowd just isn't there anymore. 'Rainy days are even worse. No one shows up... we may only see some people during school holidays,' she added. The business owner also said that people were afraid to visit the area due to its unsafe environment. 'The area is surrounded by large trees, and during heavy rain or strong winds, we feel scared. Once, a massive tree fell and damaged the bridge. 'One of the bridges, which was initially glow-in-the-dark, has lost its feature and I feel that it needs to be maintained or given a fresh coat of paint to attract more visitors,' she added. She also believes the rental spaces should be opened up to more than just food vendors. 'We need stalls for crafts and other cultural products to attract tourists and to make it more diverse. Yuvanesan says the riverwalk looks unkempt, like a jungle, leaving visitors feeling unsafe. 'It could be turned into a proper tourist spot if well-kept,' she added. However, not all traders believe that Kinta Riverwalk's unpopularity is due to competition. Barber Hasan Albasri Bukhari, 24, said the stalls at Taman DR were not the reason for Kinta Riverwalk's lack of business. 'I think those stalls (at Taman DR) have nothing to do with it; rather, I think they are helping to bring visitors here. After eating there, people would come and visit this area. 'People want new experiences and anything that goes viral grabs their attention,' he said. 'Perhaps, this place doesn't attract anymore like how it used to as it is quite old and has nothing much to offer,' he added. Site supervisor Muhd Ikhwan Ahmad Sabki, 28, believes creativity and marketing are key to winning back customers. 'Businesses need to adapt. Social media platforms like TikTok can be used to attract people,' he said. 'Get customers to review your cafe. Do something new.' Plans to revitalise Ipoh mayor Zamakhshari Hanipah confirmed efforts were underway to revitalise Kinta Riverwalk. Zaril Izaidi: The city council should bring in more activities like live performances. 'We have conducted several site visits and have taken note of issues brought up, especially on the lack of lighting. 'The area is quite dark and appears unsafe, which may explain why it is not drawing as many visitors,' he said when met at the city council's executive talk this week. To improve visitors' experience, he said MBI planned to instal compound lighting in selected areas to enhance safety and appeal. As for the bridge, he said it was initially designed with a glow-in-the-dark concept, but public feedback indicated a preference for decorative lighting instead. 'So, we will shift towards a more welcoming lighting concept to make the area feel safer. 'We will also look into improving the flooring in the area. 'Our team will go back on the ground to conduct further checks,' he said. Zamakhshari said stalls along the riverbank remained available for rent, with rental rates unchanged since 2020. 'We are open to craft or souvenir vendors, as they help promote Ipoh. 'The Kinta Riverwalk was originally designed to include both food stalls and craft or souvenir shops, but demand has shifted post-pandemic towards more food and beverage operators,' he said. Regarding competition from Taman DR stalls, he said they served as complementary features to the Kinta Riverwalk. He added that stall operators at Taman DR also paid a fee to operate there.
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Business Standard
4 days ago
- Business
- Business Standard
Industries with AI to propel India to 3rd-largest economy: FM Sitharaman
The industries that will play a key role in propelling India to become the third-largest economy in the world will largely be those that adopt artificial intelligence (AI), Union Finance Minister Nirmala Sitharaman said on Thursday. Interacting with students at an Institute of Economic Growth event, the FM said: 'They can be any industry. Productivity gains and the efficiencies that you are bringing in because of the adoption of such technology is what is going to define these industries, which will rapidly allow India to move to the third position.' According to estimates by the International Monetary Fund, India will become the fastest-growing major economy in the world in FY25 and is expected to overtake Japan to be the fourth-largest economy in 2025. Highlighting how India's productivity had not caught up with its ambition to grow fast, Sitharaman said: 'I am not saying there was never an attempt to improve, but trying has not been facilitated with many other changes that could have been adopted. Technology is one of them.' The adoption of technology, the FM said, could have accelerated productivity gains. She said the defining feature of the transformation in some sectors is the adoption of technology, including Web3. Also Read The finance minister said that the way India's common people have taken to digital financial transactions has amazed the world. 'India has not seen the digital revolution in just one creamy layer. It has seen it vertically as well as horizontally all over the country.' She highlighted that while optical fiber had already reached every district in the country, effective power supply had to be coordinated with the states. She also stressed that in the post-Covid-19 period, all states have been spending on social schemes and welfare, but everybody is made to spend on capital expenditure also. 'All states are now understanding the importance of capital expenditure because the multiplier effect is much higher,' she said. The FM said a key lesson from the Covid-19 pandemic is the need for the country to be prepared for future pandemics. 'Institutions will have to be ready for them; not just hospitals or disaster management teams but also schools, colleges, firefighting units.'
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Business Standard
4 days ago
- Business
- Business Standard
AI-driven industries to propel India to third-largest economy: FM
The industries that will play a key role in propelling India to become the third-largest economy in the world will largely be those that adopt artificial intelligence (AI), Finance Minister Nirmala Sitharaman said on Thursday. Interacting with students at an Institute of Economic Growth event, Sitharaman said, 'They can be any industry. Productivity gains and the efficiencies that you're bringing in because of the adoption of such technology is what is going to define these industries which will rapidly allow India to move to the third position.' India is projected to be the fastest-growing major economy in the world in FY25 and is expected to overtake Japan to become the fourth-largest economy in 2025, according to estimates by the International Monetary Fund. While highlighting how India's productivity has not kept pace with its ambition for rapid growth, Sitharaman said, 'I am not saying there was never an attempt to improve, but trying has not been facilitated with many other changes which could have been adopted. Technology is one of them.' The adoption of technology, she said, could have accelerated productivity gains. She noted that the defining feature of the transformation in some sectors is the adoption of technology, including Web3. Speaking about India's digital public infrastructure, the finance minister said, 'The way in which India's common people have taken to digital financial transactions has amazed the world. India has not seen the digital revolution in just one creamy layer, it has seen it vertically as well as horizontally all over the country.' Sitharaman pointed out that while optical fibre had reached every district in the country, ensuring effective power supply remained a task to be coordinated with the states. She also emphasised that in the post-Covid-19 period, all states have been spending on social schemes and welfare, but they are also now investing in capital expenditure. 'All states are now understanding the importance of capital expenditure because the multiplier effect is much higher,' she said. The finance minister added that a key lesson from the Covid-19 pandemic is the need for the country to be prepared for future pandemics. 'Institutions will have to be ready for them; not just hospitals or disaster management teams but also schools, colleges, firefighting units,' she said.
Time of India
26-05-2025
- Business
- Time of India
India's supplements wild west; Payments firms' SaaS play
India's supplements wild west; Payments firms' SaaS play Want this newsletter delivered to your inbox? Also in the letter: Pills, promotions and a dose of doubt: Influencers, VC money fuel India's booming supplements market Growing concern: Most supplements are sold directly to consumers via ecommerce websites and quick-commerce apps. They're available over the counter – no prescription, no pharmacist, and often, no evidence that they work. Multiple experts and industry executives told us this supplement boom is driven by post-Covid-19 health consciousness, amplified by influencer marketing, and backed by venture capital (VC). Tell me more: The sector attracted over $500 million in funding between 2020 and May 2025, according to data firm Venture Intelligence. Brands like Plix, Kapiva, Fast&Up, and The Good Bug are leaning into influencer-led marketing, with some partnering with doctors and wellness experts to add a veneer of credibility. Industry analysts say brands spend anywhere between 15-30% of their budgets on influencer marketing. What about regulation? In India, most supplements are regulated by the Food Safety and Standards Authority of India, not the drug regulator. This means weaker scrutiny and lighter penalties. Online pay aggregators focus on anti-fraud tech to up revenues Tell me more: Quote, unquote: Zoom out: Sponsor ETtech Top 5 & Morning Dispatch! Why it matters: The opportunity: Reach a highly engaged audience of decision-makers. Boost your brand's visibility among the tech-savvy community. Custom sponsorship options to align with your brand's goals. What's next: IT's Q1 headcount growth likely to stay flat despite improved macro Driving the news: Hiring demand for new IT joinees continues to hover around 55,000, well below the brief peak of 80,000 seen earlier in 2025, according to staffing firm Xpheno. There are currently 60,000 open roles in the IT services segment. Job scenario: AI-led hiring: Quote, unquote: Other Top Stories By Our Reporters Tatas rope in Intel veteran Tim McIntosh to steer Assam chip assembly plant: Spacetech gets an opening as India seeks more eyes in the sky: Info Edge's shareholders clear Rs 1,000 crore VC fund play: Byju's app taken down from Google Play Store: Apple's India bet reflects global confidence: Rajeev Chandrasekhar | Global Pick We Are Reading Happy Monday! As over-the-counter health supplements are increasingly available online, concerns arise about their efficacy and regulation. This and more in the latest edition of ETtech's Morning Dispatch.■ Tepid IT job demand■ Top Tata Electronics' hire■ Info Edge readies VC fundFrom collagen powders and gut health liquids to magnesium tablets and hormone-balancing pills, wellness supplements have become lifestyle staples in post-pandemic India. However, as demand surges, so do questions around efficacy and oversight Payment companies are transforming their in-house fraud detection tools into software-as-a-service (SaaS) products for banks and fintechs, unlocking a new source of recurring revenue Payment aggregators (PAs) like PayU, Razorpay, and PhonePe have developed fraud detection systems to safeguard their platforms. Now, they are pitching these tools to lenders, promising improved transaction rates and enhanced customer security.'While we already work with large banks to address their payment fraud needs, many mid- and small-sized financial institutions need strong technology solutions to fight payment fraud. We are also targeting this segment, and the opportunity is significant,' said Anirban Mukherjee, chief executive officer, competition intensifies and regulatory caps squeeze margins, payment firms are eyeing SaaS as a more stable, margin-friendly revenue stream beyond their core payment Top 5 and Morning Dispatch are must-reads for India's tech and business leaders, including startup founders, investors, policy makers, industry insiders and Reach out to us at spotlightpartner@ to explore sponsorship growth in the IT sector is expected to remain flat , experts say, even as a pause on US President Donald Trump's 'reciprocal' tariffs lifts some clouds of 88% of active demand is concentrated in technology and engineering roles. The remaining 12% spans consulting, project management, business development, analysts, and other support functions, Xpheno firms prioritising quality over volume, demand is shifting towards 'future-ready' specialised roles in artificial intelligence (AI), machine learning, cloud, and cybersecurity. These segments are reported to grow by 30-75%, depending on the area, according to another staffing firm, Teamlease.'Although there is long-term optimism, companies remain cautious in the short term, reflecting a careful approach to hiring amid ongoing global uncertainties,' said Neeti Sharma, CEO, Teamlease Electronics has appointed Tim McIntosh as vice president and head of operations and manufacturing for Tata Semiconductor Assembly and Test (TSAT), marking the latest leadership hire of an Intel veteran at the India currently has around 10–11 defence satellites operated by ISRO, "revisit times are long" and there's an urgent need for more satellites , Lt Gen AK Bhatt (Retd), DG of the Indian Space Association (ISpA), told Noida-based firm will invest up to Rs 1,000 crore in Info Edge Ventures Fund III , paving the way for increased startup Byju's app has been removed from the Google Play Store due to payment disruptions for its services, while other apps remain available on the ongoing expansion of its iPhone manufacturing operations in India indicates increasing global confidence in the country's electronics manufacturing ecosystem, said former IT minister Rajeev Chandrasekhar.■ India's richest man can't crack e-commerce, even with Shein ( Rest Of World ■ Gemini in Chrome feels like a small step toward Google's agentic era ( The Verge ■ founder plots potential deal to buy failed company ( FT
Economic Times
26-05-2025
- Business
- Economic Times
India's supplements wild west; Payments firms' SaaS play
Happy Monday! As over-the-counter health supplements are increasingly available online, concerns arise about their efficacy and regulation. This and more in the latest edition of ETtech's Morning Dispatch. Also in the letter: ■ Tepid IT job demand ■ Top Tata Electronics' hire■ Info Edge readies VC fund Pills, promotions and a dose of doubt: Influencers, VC money fuel India's booming supplements market From collagen powders and gut health liquids to magnesium tablets and hormone-balancing pills, wellness supplements have become lifestyle staples in post-pandemic India. However, as demand surges, so do questions around efficacy and oversight. Growing concern: Most supplements are sold directly to consumers via ecommerce websites and quick-commerce apps. They're available over the counter – no prescription, no pharmacist, and often, no evidence that they work. Multiple experts and industry executives told us this supplement boom is driven by post-Covid-19 health consciousness, amplified by influencer marketing, and backed by venture capital (VC). Tell me more: The sector attracted over $500 million in funding between 2020 and May 2025, according to data firm Venture Intelligence. Brands like Plix, Kapiva, Fast&Up, and The Good Bug are leaning into influencer-led marketing, with some partnering with doctors and wellness experts to add a veneer of credibility. Industry analysts say brands pay anywhere between 15-30% of their budgets on influencer marketing. What about regulation? In India, most supplements are regulated by the Food Safety and Standards Authority of India, not the drug regulator. This means weaker scrutiny and lighter penalties. Online pay aggregators focus on anti-fraud tech to up revenues Payment companies are transforming their in-house fraud detection tools into software-as-a-service (SaaS) products for banks and fintechs, unlocking a new source of recurring revenue. Tell me more: Payment aggregators (PAs) like PayU, Razorpay, and PhonePe have developed fraud detection systems to safeguard their platforms. Now, they are pitching these tools to lenders, promising improved transaction rates and enhanced customer security. Quote, unquote: 'While we already work with large banks to address their payment fraud needs, many mid- and small-sized financial institutions need strong technology solutions to fight payment fraud. We are also targeting this segment, and the opportunity is significant,' said Anirban Mukherjee, chief executive officer, PayU. Zoom out: As competition intensifies and regulatory caps squeeze margins, payment firms are eyeing SaaS as a more stable, margin-friendly revenue stream beyond their core payment business. Sponsor ETtech Top 5 & Morning Dispatch! Why it matters: ETtech Top 5 and Morning Dispatch are must-reads for India's tech and business leaders, including startup founders, investors, policy makers, industry insiders and employees. The opportunity: Reach a highly engaged audience of decision-makers. Boost your brand's visibility among the tech-savvy community. Custom sponsorship options to align with your brand's goals. What's next: Interested? Reach out to us at spotlightpartner@ to explore sponsorship opportunities. IT's Q1 headcount growth likely to stay flat despite improved macro Headcount growth in the IT sector is expected to remain flat, experts say, even as a pause on US President Donald Trump's 'reciprocal' tariffs lifts some clouds of uncertainty. Driving the news: Hiring demand for new IT joinees continues to hover around 55,000, well below the brief peak of 80,000 seen earlier in 2025, according to staffing firm Xpheno. There are currently 60,000 open roles in the IT services segment. Job scenario: Roughly 88% of active demand is concentrated in the technology and engineering roles. The remaining 12% spans consulting, project management, business development, analysts, and other support functions, Xpheno added. AI-led hiring: With firms prioritising quality over volume, demand is shifting towards 'future-ready' specialised roles in artificial intelligence (AI), machine learning, cloud, and cybersecurity. These segments are reported to grow by 30-75%, depending on the area, according to another staffing firm, Teamlease. Quote, unquote: 'Although there is long-term optimism, companies remain cautious in the short term, reflecting a careful approach to hiring amid ongoing global uncertainties,' said Neeti Sharma, CEO, Teamlease Digital. Other Top Stories By Our Reporters Tatas rope in Intel veteran Tim McIntosh to steer Assam chip assembly plant: Tata Electronics has appointed Tim McIntosh as vice president and head of operations and manufacturing for Tata Semiconductor Assembly and Test (TSAT), marking the latest leadership hire of an Intel veteran at the firm. Spacetech gets an opening as India seeks more eyes in the sky: While India currently has around 10–11 defence satellites operated by ISRO, "revisit times are long" and there's an urgent need for more satellites, Lt Gen AK Bhatt (Retd), DG of the Indian Space Association (ISpA), told us. Info Edge's shareholders clear Rs 1,000 crore VC fund play: The Noida-based firm will invest up to Rs 1,000 crore in Info Edge Ventures Fund III, paving the way for increased startup investments. Byju's app taken down from Google Play Store: The Byju's app has been removed from the Google Play Store due to payment disruptions for its services, while other apps remain available on the platform. Apple's India bet reflects global confidence: Rajeev Chandrasekhar | Apple's ongoing expansion of its iPhone manufacturing operations in India indicates increasing global confidence in the country's electronics manufacturing ecosystem, said former IT minister Rajeev Chandrasekhar. Global Pick We Are Reading ■ India's richest man can't crack e-commerce, even with Shein (Rest Of World) ■ Gemini in Chrome feels like a small step toward Google's agentic era (The Verge) ■ founder plots potential deal to buy failed company (FT) Updated On May 26, 2025, 07:11 AM IST
