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Govt extends ban on Zakir Naik's Islamic Research Foundation for 5 years
The Centre on Monday extended for five years the ban imposed on the Islamic Research Foundation (IRF), headed by India-born preacher Zakir Naik, currently based in Malaysia. The IRF was first declared an unlawful organisation under the Unlawful Activities (Prevention) Act, 1967 (37 of 1967) by the central government on November 17, 2016.
In a notification, the Union Home Ministry said that the IRF has been indulging in activities that are prejudicial to the security of the country and have the potential of disturbing the peace and communal harmony and disrupting the secular fabric of the country.
The central government is of the opinion that the IRF and its members, particularly, the founder and president, Zakir Abdul Karim Naik alias Zakir Naik, has been encouraging and aiding its followers to promote or attempt to promote, on grounds of religion, disharmony, or feelings of enmity, hatred or ill-will between different religious communities and groups which are prejudicial to the integrity and security of the country, it said.
The Home Ministry said the statements and speeches made by Naik are objectionable and subversive and through them, he has been promoting enmity and hatred among religious groups and inspiring youths of a particular religion in India and abroad to commit terrorist acts.
Naik also makes radical statements and speeches to millions of people worldwide through international satellite TV networks, the Internet, print and social media, it said.
The central government is further of the opinion that if the unlawful activities of the IRF are not curbed and controlled immediately, it will take the opportunity to continue its subversive activities and re-organise its activists who are still absconding, it said.
The ministry said Naik's activities will disrupt the secular fabric of the country by polluting the minds of the people by creating communal disharmony, propagating anti-national sentiments, escalating secessionism by supporting militancy and some people may undertake activities that are prejudicial to the sovereignty, integrity and security of the country.
The notification said that the central government is also of the opinion that with regard to the activities of the IRF, it is necessary to declare it an unlawful association with immediate effect.
Considering all these aspects, the Home Ministry said, it has decided to extend the ban imposed on the IRF under the UAPA for another five years.
(With inputs from ANI)
Also Read | 'Those who abuse Messenger of Allah will have a painful punishment': Zakir Naik
Neiman Marcus Group LTD LLC announced that it has entered into a Restructuring Support Agreement with a significant majority of its creditors to undergo a financial restructuring, substantially reducing its debt load and interest payments and supporting continued operations during the COVID-19 pandemic and beyond. The binding agreement with holders representing over two-thirds of the company’s outstanding debt demonstrates broad commitment across creditor classes.
To address the liquidity problems being faced by the exporters, Dr. Srinivasan urged the Government to release all pending claims under the TUF scheme and the erstwhile ROSL scheme for Made ups and Garments , automatic enhancement of bank limits for the exporters by 25 percent and the extension of the Interest Equalization Scheme beyond March 31, 2020 and to cover Cotton Yarn under this scheme.
He adds, “Beyond providing a memorable luxury shopping experience, the virtual trunk shows will include special offers, fixed pricing and delivery within 48 hours of purchase. The highlight of this show will be all sales of Aisha Baker’s ‘All You Need’ earrings (below) will be donated to World Health Organization (WHO); a small way for us and our brand partners to support medical professionals around the world on the frontline of the fight against COVID-19.”
Geoffroy van Raemdonck, Chairman and Chief Executive Officer of Neiman Marcus Group stated, “Prior to COVID-19, Neiman Marcus Group was making solid progress on our journey to long-term profitable and sustainable growth. We have grown our unrivaled luxury customer base, expanded our industry-leading customer relationships, achieved higher omnichannel penetration, and made meaningful strides in our transformation to become the preeminent luxury customer platform. However, like most businesses today, we are facing unprecedented disruption caused by the COVID-19 pandemic, which has placed inexorable pressure on our business.”
Customers who register online for the service can buy from a selection of brands and merchandize brought to their doorstep by the store staff. After registration, the customer is contacted by the store to understand what garments they need (kidswear, comfort wear, menswear etc) and their size. The customer can also select the merchandise over a video chat with the personal shopper. The store associate then curates a customized selection and brings it to the doorstep of the customer.
The outbreak of COVID-19 has already changed the way businesses across sectors function. Companies are re-strategizing and re-structuring their internal models and business plans so that they are able to efficiently get back on track when the pandemic is behind us and the economy has revived. With people observing social distancing in India and staying at home to help curb the spread of the disease, the retail sector has taken a big hit with offline stores and malls remaining shut. Being part of the footwear industry, companies like ours are introducing innovative and productive ways to be better prepared in times of a crisis like this. The priority of most businesses is how to retain their customer base by adapting to new and emerging trends that will be here to stay post COVID-19.
Group Q1 sales growth of almost 8 percent is impressive against a tough comparative, especially as its performance was dragged down by China – its second largest market in terms of store estate. Q1 sales in China fell by 24 percent in local currency, as demand was obliterated in February, declining by 84 percent with almost two thirds of stores being closed at peak impact. Without China and other heavily-impacted countries including Hong Kong, Japan, Macau, Singapore and Taiwan, H&M’s group sales in local currencies rose 7 percent in Q1 (versus +5 percent overall). Despite the effects of COVID-19, Q1 operating margin rose 2.9 ppts to 4.9 percent, as H&M reaped the rewards of its extensive transformation plan – which we expect to help protect the retailer in the long run and ensure it can better cater to a post-coronavirus consumer.
We always aim to be as transparent as possible in our progress in our progress towards a more sustainable fashion future, as well as the challenges ahead, in order to keep driving industry change. We are committed to continue taking step for greater transparency so customers can make informed decisions and drive a positive impact in the industry through our extensive work to become fully circular and climate positive, while being a fair and equal company,” said Hanna Hallin, Global Strategy Lead for Transparency at H&M Group
Talking about the service, Vishnu Prasad, Managing Director of Future Lifestyle Fashions Limited said, “While availing the service, customers can do virtual shopping from Central stores with help of video calling along with a Service Relationship Manager and in-store Stylists for a compelling shopping experience.”
Throughout Levi’s long standing existence, it has seen enough disruption – right from the Great Depression, World War II to the deadly Spanish Flu of 1918. According to Sanjeev Mohanty, Managing Director – South Asia, Middle East & North Africa, Levis Strauss & Co., the brand is confident that it will overcome the current COVID-19 pandemic and emerge stronger than ever.
The Fashion Transparency Index, launched during the Fashion Revolution Week, creates awareness on important issues for the whole textile industry, such as transparency, good working conditions in the supply chain and the need for shifting towards a circular economy. Even in extraordinary situations, such as the rapid spread of the COVID-19, the group stands by its responsible purchasing practices. H&M Group is well aware that the suppliers, and their employees, are extremely vulnerable in this situation. The group is in a close dialogue with several partners and industry stakeholders to see how it can and should support in this difficult situation with the aim of finding a joint industry solution.
“Adidas has suffered at the hands of COVID-19. The brand has reported a decline in net profits of 97 percent and a revenue decrease of 19 percent to €4.8bn in the first three months of 2020. Economic uncertainty has squeezed the budgets of consumers and reduced discretionary spending. Adidas’ results reflect the scale of the impact.
“The USA, as a society, is more consumerist compared to Europe. Younger population with a habit of regular spending will cause US to maintain a tad higher consumption than EU during the lockdown period; and more importantly, faster return to normal consumption levels,” the report states.
With around 80 percent of the garment industry mostly micro, small and medium enterprises, which has around 3,700 members employing over 7 lakh people, the Clothing Manufacturers Association of India (CMAI) asserts that most of its members do not have the kind of reserves to see them through 3-6 months.
Collins adds: “After initially closing on March 26, Next reopened its website last week, though at limited capacity due to enhanced safety measures, which has put pressure on other players with closed online operations to follow suit. Quiz, Fenwick and River Island have all resumed selling online again, and TK Maxx has made its website available for browsing only, though it should aim to restart warehouse operations as soon as possible so that it can take orders, as it has strong potential to drive sales of activewear during the lockdown.”
Speaking at a webinar on ‘Impact of COVID-19 on Fashion Business’ he said: “The government needs to work on some mechanism to allow companies to get some cash flows in, otherwise we are heading towards a very challenging time in business, where there is no cash coming in but there is continuous cash outflow in the business. Yes, we have responsibility to our people and we are ensuring that in the best way we can.”
Exporters are facing huge problems as their buyers are delaying payments against export bills for shipments already made . On the other hand, most of the exporters have entered into forward contracts with the banks and now they are unable to surrender the committed amounts on foreign exchange under these contracts due to delay in receiving the payments.
– The sector has been reeling under severe financial stress, so interest rate reduction should be considered under short-term recommendations to ease financial stress. And for long-term, credit ratings-based loan facilitation for MSME players should be reviewed in order to make the sector competitive/lucrative
Tukatech, for example, is offering its CAD customers the opportunity to switch to a cloud license at no charge, allowing them to work from anywhere. While Centric Software has launched a series of quick-start, online collaboration packages designed to get brands, retailers and manufacturers working remotely.