OPINION, P2 MIND & GAMES Searching for Shangri-La IDEA EXCHANGE THAT MEDITERRANEAN DIET STUDY WAS FLAWED. BUT WAS IT WRONG? Tariq Mansoor ‘AMU can act as catalyst but can’t educate 200 mn Muslims. We need more universities’ Page 4 A trial found the Mediterranean diet protects against heart disease. Now the original work has been retracted & re-analysed, with the same result Page 10 ACROSS THE AISLE, P CHIDAMBARAM Vol 11 No. 16 LEISURE Follow us on Twitter & Facebook. App available on App Store & Play Store WWW.FINANCIALEXPRESS.COM EXERCISE YOUR OPTION MUMBAI SUNDAY, JUNE 17, 2018 12 Pages, `10 WORDSWORTH LONE CRUSADER? Comey’s memoir was not meant to be about Trump, but in light of his firing, the indictment of the president’s administration overshadows his plea to make America ethical again Page 5 FOOTLOOSE SLEEPWELL INTHE SKY Airlines now offer not only flat beds, but luxury bedding for premium class travellers Page 8 ODD & EVEN FINANCIALEXPRESS ON SUNDAY Co-working spaces the choice of millennials ● What is it like to function out of a co-working space, touted to be the office of the future? ANANAYA BANERJEE Mumbai, June 16 WHEN I STEPPED into a co- workingspace,toutedtobethe workplace of the future, for a first-hand experience, a dog wagging its tail was the last thing I expected to greet me on a Monday morning. Needless to say, all blues vanished as I patted the pet someone had brought to work. While traditional offices rarely even have creches,herewas an office that was pet-friendly! The next thing that knocked me out (not literally) was beeron tap at the‘pay-forwhat-you-consume’ pantry in the lobbyofWeWork,in Mumbai’s Bandra Kurla Complex. The millennial in me thought the cool quotient of the place was its informal setROHNIT PHORE INDIANS WITH ADVANCED degrees may have to wait for over150years fora Green card, saysareportbyathink-tank.The new calculation on the Green cardwaitperiodbyWashingtonbasedCatoInstitutecomesafter the US Citizenship and Immigration Services recently released number of applicants forsuchcards.Thecalculationis based on the number of Green card issuances in 2017. As of April 20, 2018, there were 6,32,219 Indian immigrants and their spouses and minor children waiting for Greencards.Theshortestwaitis for the highest skilled category for EB-1 immigrants with “extraordinary ability”. EB stands for employment based. The extraordinary immigrants from India will have to wait “only”sixyears,the report said. EB-3immigrants,withbachelor’s degrees,will have to wait about17years;thetotalnumber of Indians waiting in EB-3 category are 1,15,273. But the biggestbacklogisforEB-2workers, with advanced degrees. There were 4,33,368 Indians waitinginthiscategory,primarily because of existing laws that imposeper-country-limitof7%. In 2017, 22,602 Indians got Green cards. Of these, 13,082 were in EB-1 category,2,879 in EB-2 and 6,641 in EB-3 category,as per USCIS figures.Cato Institute said allocation is not based on the the backlog, so 69%ofthebacklogisintheEB2 category,but it got only 13% of Green cards issued in 2017. Detailed report on Page 12 SGX Nifty trade to continue despite dispute REUTERS Singapore, June 16 ROUND-THE-CLOCK AMENITIES Front-desk service ■ Superfast internet ■ Daily cleaning ■ IT support ■ 24/7 building access ■ Global network ■ Office supplies ■ Bike storage ■ Business-class printers ■ Mail & package handling ■ Private phone booths ■ Fresh fruit water ■ Microroasted coffee ■ Draft beer ■ ting, bright interiors with plenty of natural light and amenities that ranged from beer to a nail spa. Of course, they took work seriously too, with office spaces for freelancers, small start-ups and even big companies. As I unpacked my things onto a hot desk (free space that can be used by any member), hoping to write a story and get some research work done, I noticed everyone around me was either in deep discussion withacolleagueortypingaway at their laptops, with huge headphones isolating them from the surroundings. Continued on Page 11 SPOTLIGHT From sleeping pods and gaming zones to meditation areas and crèches for children, co-working spaces are leaving no stone unturned to lure the millennial worker. It’s no wonder then that MNCs as well as start-ups are opting for these flexible set-ups Page 7 PRESS TRUST OF INDIA Washington, June 16 READ TO LEAD PUBLISHED FROM:AHMEDABAD, BENGALURU, CHANDIGARH, CHENNAI, HYDERABAD, KOCHI, KOLKATA, LUCKNOW, MUMBAI, NEW DELHI, PUNE THE NEWWORKPLACE Green card: 151-yr wait for Indians with higher degree Fitness advice is hot right now, so here’s our pick of gadgets and apps Page 9 THE SINGAPORE EXCHANGE (SGX) on Saturday said a courtappointed arbitrator had allowed it to continue listing and trading of SGX Nifty contracts beyond August 2018, during dispute resolution with India’s National Stock Exchange (NSE). The two exchanges have been locked in dispute after three main Indian bourses unexpectedly announced in Februarytheywouldstoplicensing their indexes to foreign bourses from August. SGX responded that itwould launch successor products to its flagship Indian equity derivative products on June 4. NowNSEandSGXhavebeen ordered“tofacilitatethecontinued listing of SGX Nifty products for at least two successive contract month maturations beyond the arbitration’s completiondate”,SGXsaidinastatement. The arbitrator has also asked SGX not to offer its proposed new India equity derivative products until the final decision,it said. Continued on Page 11 INDO-US TRADE TUSSLE India signals more retaliatory steps ● Says US action to determine future course; proposes extra duty on Harley bikes, 29 other items for now BANIKINKAR PATTANAYAK New Delhi, June 16 INDIA HAS TOLD the World TradeOrganization(WTO)that it’swithinitsrighttoslapmore retaliatory measures against theUSifrequired,evenbeyond the 30 American goods — including Harley Davidson bikes,apples and almonds — it has selected fornowto counter the Trump administration’s extra tariff on Indian steel and aluminium. In a communication to the WTOinGenevaonWednesday, a dayaftercommerce minister Suresh Prabhuwrapped up his USvisit,NewDelhi said:“India reserves its right to further suspend substantially equivalent concessions and other HOW THEY STACK UP India's proposal on US goods Extra mop-up ($ mn) Additional duty (%) Almond Apple Phosphoric acid Diagnostic reagents Bikes* (Harley) Total (30 items) Additional duty (%) Extra mop-up# ($ mn) 20 25 15 10 50 NA 121.88 24.14 14.43 12.29 5.3 240 *Above 800cc US move on Indian metals Steel Aluminium Total Indian estimate # obligations based on the trade impact resulting from the application of the measures of the US.” Harley and otherAmerican bikes with engine capacity above 800cc will attract an additional 50% import duty (over and above the current 50%) if India implements its proposal, while the duty on apples will be raised by 25% and almonds by 20%. Only in February, India had cut the import duty on superbikes such as Harley Davidson to 50% to pacify the US. Continued on Page 11 25 10 NA 198.6 42.4 241 Source: India's communication to WTO China slaps extra tariffs on $50 bn worth of US goods Beijing: In a tit-for-tat action, China on Saturday imposed additional duties on $50 billion worth of US products, a day after US President Donald Trump slapped a 25% tariff on Chinese goods worth a similar amount, triggering a fullfledged trade war between the two countries, reports PTI.
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