OPINION, P2 MIND & GAMES May our children forgive us 2020: AYEAR WHEN EVEN SPORTS WASN’TAN ESCAPE NEW DELHI SUNDAY, DECEMBER 20, 2020, 16 Pages, `10 (Patna `11, Raipur `10) F R O M : A H M E D A B A D , FINANCIAL EXPRESS ON SUNDAY B E N G A L U R U , C H A N D I G A R H , C H E N N A I , K O C H I , ● To get no new biz till clean-up; Apple staff, auditors to monitor progress Dad’s day in With the call for gender equality across work and home, an increasing number of men today are sharing the responsibility of childcare and domestic chores. Companies, too, have taken note, extending paid paternity leaves and even creating them where there were none The right formula? Alex Kantrowitz’s book is yet another attempt to decode what makes tech titans successful ROHNIT PHORE proper working hour management processes that led to paymentdelaysforsomeworkersin Ad industry likely to revive in H2 next yr INDIA’S ADVERTISING INDUSTRY is expected to decline by QuickPicks China to review investment on national security grounds CHINA HAS DRAWN up new rules that will allow authorities to review foreign investment on national security grounds, the country’s state planning agency said on Saturday, reports Reuters. The new system will cover foreign investments in military sectors, as well as “important” investment in energy, natural resources, agriculture, internet technology and financial services. Moderna gets emergency use nod for its Covid vaccine in US MODERNA HAS become the second company to get emergency use authorisation for its anticoronavirus vaccine from the US Food and Drug Administration (FDA), a week after the one developed by Pfizer received a similar approval, reports PTI. "Congratulations, the Moderna vaccine is now available!” President Donald Trump tweeted soon after. PAGE 16 about 15-20% in 2020; however, there is a possibility that it could match 2019 levels by the second half of 2021.As per a KPMG report,`57,900 crore will be earned in advertising revenue by media houses in 2020 — a steep decline from `72,600 crore in 2019. Industry analysts say advertising spend,which took a severe beating in the AprilJune quarter, surged during the festive season driven by nearly `3,000 crore worth of advertising on IPL 2020. As per data provided by Anand Rathi Institutional Equities, October attracted about 30% of all ad spend during the April-October period across TV, print and radio — `5,966 crorewas spent on advertising in October. Ajay Gupte, CEO, South Asia, Wavemaker, pegs the decline of India’s advertising industryto be around 15-20% this year. Volume of advertis- Downward spiral 2020 performance (in %) France -15.5 -14.1 Canada -14 (SUVs (hatchbacks plus MPVs) plus sedans) VIKRAM CHAUDHARY New Delhi, December 19 Total diesel cars 2 2019 14 86 Total petrol cars Total diesel UVs 4 57 13 87 Total petrol vans THE SALES SHARE of diesel Total diesel PVs Source: SIAM Total petrol PVs in hatchbacks and sedans (just 2% of total sales, down from 14%), and in vans (4%, down from13%).Itisonlyintheutility vehicles (SUVs plus MPVs) space where diesel still has a 98 71 43 29 Total petrol UVs Total vans 2020 17 96 33 67 83 good demand (43%,but down from 71%). Overall, the sales share of diesel PVs has reduced from 40%inbothFY17andFY18,to 36%inFY19and29%inFY20. L U C K N O W , PRE-BUDGET MEET Economists demand growth, reforms FE BUREAU New Delhi, December 19 Continued on Page 11 Continued on Page 11 M U M B A I , N E W D E L H I , US -7.3 India 2020: 15-20% Industry estimates 6.5 China ‘Why India’ is now ‘why not India’: PM PMSPEAK ● Says agri reforms brought 6 months back have started to benefit farmers ■ Scrapping of 1,500 obsolete laws and making new ones in tune with changing investment order example of govt outlook ■ New India is pushing towards aatmanirbhar bharat PRESS TRUST OF INDIA New Delhi, December 19 ■ Production-linked incentives to boost domestic capabilities PRIME MINISTER NARENDRA Modi on Saturday hard sold his government's reforms spanning from manufacturing to taxation to labour,saying they have changed the world perception about the country from 'why India' to 'why not India' and went on to quote record foreign investment during the pandemic as a testimony to that. Speaking at industry association Assocham's foundation week event, Modi also said agriculture reforms brought by his government six months back have started benefiting farmers. “There was a situation in the past when investors would question'why India'(for investing in the country).With reforms (of past six years) and their effects, its proposition has ■ R&D investment must increase, private sector must scale up investments changed to ‘why not India’,” he said. He cited scrapping of 1,500 old and obsolete laws and farming new ones that in tune with the changing investment orderas an example of his government’s outlook. “Earlierinvestorscitedhigh tax rates to say why India but today (corporate) tax rates are so competitive that they say why not India,”he said. Continued on Page 11 ALVIDA KHANSI HERBAL COUGH SYRUP /TorexHerbalCoughSyrup SORE THROAT COLD COUGH -4.4 UK -2 -1.9 /TorexCoughSyrup TULSI S Korea Note: Estimates of all countries are from GroupM, except India Tulsi helps suppress cough and aids the mobilization of mucus. ing ontelevision isbackto normal, say industry analysts. However, media houses are still struggling with commanding pre-Covid advertising rates. “The medium that has been the worst hit is cinema.Local advertising is making a comeback on the print medium, although print advertising is still lagging behind TV,”adds Gupte. The impact of the pandemic will wane over the next three to six months. PIPPALI Pippali provides relief from cough and congestion. VASA Vasa improves voice quality and relives cough. KULANJAN Kulanjan is effective herb for pearing cough and throat itching. Continued on Page 11 Continued on Page 11 /torexherbcoughsyrup /TorexHerbalCoughSyrup Germany Analystsargueitwasbound to happen, due to the decreasing fuel price gap between diesel and petrol, carmakers pulling out diesel models with the shift to BS6 emission norms from April 2020 onwards, and petrol cars getting more fuel efficient. Som Kapoor, partner, automotive sector, EY India, said in addition to above-mentioned reasons,policiessuchas10-yearonlyregistrationofdieselcarsin DelhiNCR(comparedto15years for petrol) have contributed to customersshiftingtopetrolPVs. Such policies,he added,impact the resale value of diesel PVs — notonlyofthosesoldintheDelhi market(biggestinIndia)butalso ofthoseinnearbystates. P U N E STATE OF ECONOMY Japan Diesel is no longer driving car sales Fuel-wise sales share (%), Cumulative, April-Oct K O L K A T A , Octoberand November. APPLE’S CONTRACT manufacturer Wistron on Saturday removed its vice-president heading operations in India, after finding fault in the process of wage payment during its internal investigation.The company admitted the mistakes at its end and apologised to the workers. “We are removing the vice-president who oversees our business in India.We are also enhancing our processes and restructuring ourteams to ensure these issues cannot happen again,” Wistron said in a statement.“We are deeply committed to our business and employees in India.We are working diligentlyon corrective actions to ensure this does not happen again," it said. While Wistron did not name the executive, sources said it was Vincent Lee. Wistron said they had “found that some workers were not paid correctly, or on time”. “We deeply regret this and apologise to all of our workers.Thisisanewfacilityandwerecognisethatwemade mistakes as we expanded,"Wistron said. — PTI POST-PANDEMIC VENKATA SUSMITA BISWAS Mumbai, December 19 The mausoleum of Akbar’s courtier Abdur Rahim restored to original glory Page 5 impressed on the government tokeepupthefocusongrowth, reconstruction and reforms,as it prepares for a Budget ‘like never before’ to bring the Covid-battered economy back on track fast. In a pre-Budget consultation meeting with finance ministerNirmala Sitharaman, the economists held that while the government need not unduly worry about the fiscal trajectory for FY22 and continue to spur official spending, it should keep the Budget targets — especially forrevenue collections — realistic, factoring in the damage caused by the pandemic. Earlier in the day, Sitharaman held a virtual meeting with trade bodies as well. The government had budgeted a 3.5% fiscal deficit for FY21 but its projections went haywire due to the pandemic and analysts now expect it to soarto 7-8% of GDPthis fiscal. Similarly, general government debt is expected to soar to as muchas90%ofGDPthisfiscal. Wistron fires India ops VP APPLEONSATURDAY saidithas placed Wistron on probation and it will not receive any new business from the US-based company before corrective actionsarecompleted.OnMonday,Applehadsaiditwasundertaking a detailed investigation followingtheviolentincidentat its supplier Wistron’s Narasapurafacility(inKolardistrict)in Karnataka lastweek. “Apple employees and independent auditors hired by Apple have been working around the clock to investigate the issues which occurred at Wistron’s Narasapura facility,” Apple said in a statement. It added that while these investigationsareongoing,preliminaryfindingsindicateviolationsofitssuppliercodeofconduct by failing to implement ATOMB BROUGHT TO LIFE ECONOMISTS ON SATURDAY Violence broke out during a change in shift at the plant over non-payment of promised wages FILE PHOTO PRESS TRUST OF INDIA New Delhi, December 19 ■ WORDS WORTH, P4 enginepassengervehicles(PVs) has dropped to its lowest in recent history — as per data provided by the Society of Indian Automobile Manufacturers (SIAM). In the AprilOctober2020period,dieselPVs formed just 17% of total sales, down by half compared to the same period last year (33%). The drop is especially stark H Y D E R A B A D , Wistron on notice, admits to lapses ■ SPOTLIGHT, P7 LEISURE READ TO LEAD VIOLENCE AT PLANT WHAT'S INSIDE ● Sales share of vehicles with diesel engines hugely reduced Norway’s new passports feature illustrations of landscape that change from day to night in UVlight Page 6 Follow us on Twitter & Facebook. App available on App Store & Play Store WWW.FINANCIALEXPRESS.COM VOL .XX NO. 7 ODD & EVEN Passport art Social activism and the pandemic dominated the year, and the sports world responded in kind Page 10 ACROSS THE AISLE , P CHIDAMBARAM P U B L I S H E D FE LINES YASHTIMADHU Yashtimadhu treats cough, hoarse voice, chest congestion & sore throat. Alcohol Free WITH BENEFITS OF TULSI & HONEY Distributor contact : Delhi - Raj Ayurmed Bhagirath Palace +91 92108 01700, 80764 36657 | ASM : +91 99688 86667 For more information, please contact : +91 97792 14455, +91 73199 35154 (Whatsapp) / care@torquepharma.com New Delhi