Posted by AGORACOM
at 9:21 AM on Wednesday, July 17th, 2019
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A bigger price move is right on the horizon, probably this week
Odds favor that bigger price move being to the upside.
Gold prices are modestly down in early U.S. trading Tuesday. The daily chart for gold shows a “collapse in volatility,†whereby the past three sessions have seen significantly quieter price action. This suggests that a bigger price move is right on the horizon, probably yet this week. Given that the daily gold chart remains bullish, odds favor that bigger price move being to the upside. August gold futures were last down $2.90 an ounce at 1,410.20. September Comex silver prices were last up $0.045 at $15.41 an ounce.
The just-released U.S. retail sales report for June showed a stronger-than-expected rise of 0.4%, which pushed the U.S. dollar index to solid gains on the day and in turn put some downside pressure on the gold market. Asian and European stocks were mixed overnight. U.S. stock indexes are pointed toward narrowly mixed openings when the New York day session beings, and are at or near their record and contract highs. So far this week there have been no major news developments in the world to significantly move markets. Thus, typical lackluster mid-summertime trading has set in. However, a very busy day of U.S. economic data may shake loose the present summertime doldrums.
In overnight news, there was a downbeat economic report coming out
of Germany, as the ZEW economic expectations index and current
conditions index worsened in July. Germany is the economic workhorse
for the European Union.
The other key “outside market†today sees Nymex crude oil prices firmer and trading just below $60.00 a barrel.
U.S. economic data due for release Tuesday includes the weekly Johnson Redbook and Goldman Sachs retail sales reports, retail sales, import and export prices, industrial production and capacity utilization, the NAHB housing market index, manufacturing and trade inventories, and Treasury international capital data. Several Federal Reserve officials are also slated for speeches today.
Posted by AGORACOM-JC
at 7:31 AM on Wednesday, July 17th, 2019
First Signed Franchise ApplicationÂ
Consolidation Shows 350% Growth
Retail Product Kiosks LaunchedÂ
VANCOUVER, July 17, 2019 - EMPOWER CLINICS INC. (CSE: CBDT) (Frankfurt 8EC) (“Empower” or the “Company“), a vertically integrated and growth-oriented CBD life sciences company, and a multi-state operator of medical health & wellness clinics, is pleased to announce it has received it’s first signed franchise application and that the Company has filed on sedar.com, the Business Acquisition Report (BAR) for the Sun Valley Certification Clinics Holdings LLC acquisition.
The Company continues to reach a number of important milestones on
its path forward, as a global health and wellness company, serving the
needs of patients through its network of physician-staffed health and
pain management clinics, formulating CBD based products and developing
its first CBD extraction facility.
HIGHLIGHTS
First Signed Franchise Application The Company’s Sun
Valley Health division has received its first signed application for a
Sun Valley Health Franchise in the U.S., marking an important milestone
that the Company expects has the potential to change the landscape of
how patients and consumers will access qualified and approved physicians
for consultations for alternative health and treatment options
throughout the country.
Company Files Sun Valley Business Acquisition Report (BAR) The
Company has filed the required Business Acquisition Report (BAR) for
the Sun Valley Certification Clinics Holdings LLC acquisition closed April 30th,
2019. The report highlights the audit of Sun Valley and the
consolidation of Empower Clinics and Sun Valley financial results, if
combined for full year 2018 and 1Q 2019.
Consolidation Shows 350% Growth The Business
Acquisition Report (BAR) after the completion of the 2018 Sun Valley
audit shows there would be a 350% growth in Company revenues under
consolidation. 1Q 2019 consolidated results show there would be in
excess of 500% growth under consolidation.
“The Sun Valley acquisition is accretive to the Company in so many
tangible ways, through increased brand awareness, to bringing onboard a
talented energetic team, and providing even greater access to patients,”
said Steven McAuley, CEO of Empower. “With the release of
the BAR, we are now able to demonstrate the significant financial
benefit these assets provide to our growing company.”
HIGHLIGHTS Continued
Retail Product Kiosks Launched The Company has completed the set up of its first full retail product kiosk and display area in one of its key Phoenix
clinics, that includes over (40) product SKU’s, including the CBD lines
of Sollievo, Sun Valley Science and a variety of premium health
supplements.
Extraction Facility Progress The Company has submitted
its hemp-handlers license application to the Oregon Department of
Agriculture and paid the required fees to ensure the new 5,000 sq. ft.
facility in Sandy, OR will be fully compliant with all Oregon
regulations and permit requirements. Security systems and IT networks
have been installed in preparation for the next phase of build-out and
extraction equipment installation.
CBD Market Demand The passing in the United States of the US$867 billion Agriculture Improvement Act (the “Farm Bill“)
has legalized hemp and hemp-based products. This has created an
opportunity for the production and sale of a variety of CBD-based
products that can provide genuine help and effective relief to millions
of people suffering from a variety of qualifying conditions. Recent
reports and studies indicate the approval of the Farm Bill could create a
US$20 billion industry by 2022.
ABOUT EMPOWER
Empower is a leading multi-state operator of a network of
physician-staffed clinics focused on helping patients improve and
protect their health through innovative physician recommended treatment
options. Operating as a vertically-integrated health & wellness
brand with it’s first hemp-derived CBD extraction facility under
development, the Company can produce and package its proprietary line of
cannabidiol (CBD) based products and distribute through company owned
and franchised clinics, with wholesale partnerships, online and with
retailers nationwide.
ON BEHALF OF THE BOARD OF DIRECTORS:
Steven McAuley Chief Executive Officer
DISCLAIMER FOR FORWARD-LOOKING STATEMENTS
This news release contains certain “forward-looking statements”
or “forward-looking information” (collectively “forward looking
statements”) within the meaning of applicable Canadian securities laws. All
statements, other than statements of historical fact, are
forward-looking statements and are based on expectations, estimates and
projections as at the date of this news release. Forward-looking statements
can frequently be identified by words such as “plans”, “continues”,
“expects”, “projects”, “intends”, “believes”, “anticipates”,
“estimates”, “may”, “will”, “potential”, “proposed” and other similar
words, or information that certain events or conditions “may” or “will”
occur. Forward-looking statements in this news release include
statements regarding; the Company’s intention to open a hemp-based CBD
extraction facility, the expected benefits to the Company and its
shareholders as a result of the proposed acquisitions and partnerships;
the terms of the proposed acquisitions and partnerships; the
effectiveness of the extraction technology; the expected benefits for
Empower’s patient base and customers; the benefits of CBD based
products; the effect of the approval of the Farm Bill; the growth of the
Company’s patient list and that the Company will be positioned to be a
market-leading service provider for complex patient requirements in 2019
and beyond. Such statements are only projections, are based on
assumptions known to management at this time, and are subject to risks
and uncertainties that may cause actual results, performance or
developments to differ materially from those contained in the
forward-looking statements, including; that the Company may not open a
hemp-based CBD extraction facility; that the hemp-based CBD extraction
facility may not be fully operation by Q2 2019 if at all; that
legislative changes may have an adverse effect on the Company’s business
and product development; that the Company may not be able to obtain
adequate financing to pursue its business plan; general business,
economic, competitive, political and social uncertainties; failure to
obtain any necessary approvals in connection with the proposed
acquisitions and partnerships; and other factors beyond the Company’s
control. No assurance can be given that any of the events anticipated by
the forward-looking statements will occur or, if they do occur, what
benefits the Company will obtain from them. Readers are cautioned not to
place undue reliance on the forward-looking statements in this release,
which are qualified in their entirety by these cautionary statements.
The Company is under no obligation, and expressly disclaims any
intention or obligation, to update or revise any forward-looking
statements in this release, whether as a result of new information,
future events or otherwise, except as expressly required by applicable
laws.
Posted by AGORACOM-JC
at 7:25 AM on Wednesday, July 17th, 2019
Announced that its U.S. Subsidiary Worm Casting Farms Inc. has signed a LOI with USA Hemp to process its Hemp derived wet biomass Hemp from its 298 Acre Hemp Farm in Oregon State.
USA Hemp possesses 298 Acres of hemp to process for Worm Casting Farms with an estimated 4,250,000 lbs of Hemp derived wet biomass per harvest.
VANCOUVER, British Columbia, July 17, 2019 — BOUGAINVILLE VENTURES INC. (“Bougainville” or the “Company”) (CSE: BOG) (8BV-FF:Frankfurt Stock Exchange) – The Company is pleased to announce that its U.S. Subsidiary Worm Casting Farms Inc. (Worm Casting Farms) has signed a LOI with USA Hemp to process its Hemp derived wet biomass Hemp from its 298 Acre Hemp Farm in Oregon State.
USA Hemp Processing Agreement
Worm Casting Farms intends to enter into a Hemp Processing Agreement
with USA Hemp to process wet biomass. The percentage split will be
determined in a Definitive Agreement entered into after completion of a
due diligence period. Both parties will receive dividends to be realized
from the business operations of the Hemp Process Agreement.
USA Hemp possesses 298 Acres of hemp to process for Worm Casting
Farms with an estimated 4,250,000 lbs of Hemp derived wet biomass per
harvest. Worm Casting Farms will invest approximately $2,500,000 USD in
processing equipment that will include; a harvester, shredder,
separator, dryer, an extraction & distillation unit, and testing
facility. A detailed description will be provided in the Definitive
Agreement.
10 Acre Oregon Hemp Farm – Update
Further to the Company’s news release dated July 11, 2019, announcing
the contracting of a mobile processing unit (the “Mobile Processing
Unitâ€), the Company is pleased to report that the Mobile Processing Unit
will be arriving at the farm on July 22, 2019. The Mobile Processing
Unit will process dried biomass hemp from last year’s harvest. The total
amount to be processed is approximately 1,700 lbs of bio-mass and
processing take approximately 5 days. The anticipated value of the crop
is $250,000 USD in gross revenue and the Company anticipates a net
revenue before taxes $200,000 USD.
Island Biopharma Inc., — Update
Further to the Company’s news release dated June 11, 2019, the
Company has signed a definitive agreement (the “Biopharma Definitive
Agreementâ€) to complete the acquisition of Island Biopharma Inc.
(“Biopharmaâ€). Biopharma has developed a dedicated line of Cannabidiol
derived (“CBDâ€) products which include a proprietary CBD blended
tincture product with three specific recipes for anxiety, energy and
sleep.
According to an estimate from cannabis industry analysts the hemp-CBD
market alone could reach $22 billion by 2022. CBD can be used to
effectively to treat epilepsy, anxiety, insomnia and chronic pain. The
Island Biopharma CBD line is designed to harness the healing power of
cannabis without the psychotropic effects of THC.
Pursuant to the Biopharma Definitive Agreement the Company will
acquire 100% of Biopharma assets and current inventory. In return for
total consideration consisting of 10 million common shares of
Bougainville at a deemed price of CAD$0.07 per share equivalent to
CDN$700,000. Biopharma will contribute operational expertise, exclusive
licenses for products marketed in North America supported by an
intellectual property licensing agreement, and exclusivity for all
current and future technology for oil extraction in North America, which
will include sourcing of ingredients, nutritional chart, shelf-life, as
well as cost of ingredients and contacts. The final evaluation was
determined by an independent third-party evaluator.
About Island Biopharma Inc.
Biopharma has developed CBD blended formulas for tincture product
with three specific recipes for anxiety, energy and sleep. The
philosophy of Biopharma is to create products using the highest quality
of bio-active ingredients, and oil extraction methods that preserve the
essence of the cannabis plant. Biopharma has studied plant genetics for
their therapeutic effects by incorporating modern research techniques
and by analyzing the healing and therapeutic benefits of each strain
giving the company a huge range of combinations and therapeutic benefits
for specific ailments.
About Bougainville Ventures, Inc. Bougainville
Ventures Inc. is dedicated to rapid growth in production, processing,
retail and branding of cannabis and cannabis related products. Currently
the company provides strategic capital to the thriving cannabis
cultivation sector through ownership and development of commercial real
estate properties. We offer fully built out turnkey facilities equipped
with state-of-the-art growing infrastructure to cannabis growers and
processors. Also, the Company is focused on building a strong presence
in the hemp industry with the objective of extracting cannabinoids in
both Canada and the United States. Along with our flagship Hemp project
in Oregon State and the Greenhouse campus in Washington state, the
Company has proprietary formulas for cannabis edibles, topical, and
tinctures.
On behalf of the Board of Directors BOUGAINVILLE VENTURES INC.
Andy Jagpal, President and Director
For further information, please contact Andy Jagpal at [email protected]. Please note that our Toll free number has changed to 1-877-517-7816.
http://bougainvilleinc.com/
https://twitter.com/bougainvilleinc
FORWARD LOOKING STATEMENTS: This news release
contains certain forward-looking statements within the meaning of
Canadian securities laws. Forward-looking statements are based on the
expectations and opinions of the Company’s management on the date the
statements are made. The assumptions used in the preparation of such
statements, although considered reasonable at the time of preparation,
may prove to be imprecise and, as such, undue reliance should not be
placed on forward-looking statements. The Company expressly disclaims
any intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise.
No regulatory authority has approved or disapproved the information contained in this news release.
Posted by AGORACOM-JC
at 4:42 PM on Tuesday, July 16th, 2019
HPQ Silicon (HPQ:TSXV) has thrown down the gauntlet with respect to traditional, mega producers of silicon metal with the following recent press release:
“HPQ PUREVAP™ Commercial Plant Costing Indicates Significant Capex Savings Versus Conventional Plants Producing Silicon Metal” In the actual press release itself, HPQ went even further with the following bold statement:
“With the Gen3 phase start just around the corner, we are getting closer to the time when market participants will have no choice but to take notice that we are the only viable low Capex and Opex alternative to producing Silicon Metal.â€
If that wasn’t enough, HPQ Silicon made direct reference to the two newest silicon metal plants to demonstrate massive capital cost and operating cost advantages. Specifically:
PCC BakkiSilicon hf ($300 Million Plant)
Mississippi Silicon ($220 Million Plant)Â
The gravity of these bold statements is even greater when you consider that HPQ’s world renown partners include Apollon Solar and PyroGenesis Canada, the latter of whom provided the data that led to the press release. Â
When you take a break from the summer heat, grab yourself a cold beverage and watch this interview with CEO, Bernard Tourillon. You just may thank yourself by the time winter arrives!
Posted by AGORACOM-JC
at 11:16 AM on Tuesday, July 16th, 2019
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$GMBL Esports audience is 350M, growing to 590M, Esports wagering is
projected at $23 BILLION by 2020. The company has launched VIE.gg
esports betting platform and has accelerated affiliate marketing
agreements with 190 Esports teams. Click here for more information
GMBL: OTCQB
———————–
Esports Company 100 Thieves Raises $35 Million In Series B
100 Thieves, the esports company co-owned by Grammy-winning artist Drake, talent manager Scooter Braun, billionaire Dan Gilbert and former pro gamer Matt “Nadeshot†Haag, announced today that it’s closed a $35 million Series B.
Funding round was led by New York-based private equity and growth investment firm Artist Capital Management. Its chief investment officer Josh Dienstag will join the 100 Thieves board of directors.
100 Thieves, the esports company co-owned by Grammy-winning artist Drake, talent manager Scooter Braun, billionaire Dan Gilbert and former pro gamer Matt “Nadeshot†Haag, announced today that it’s closed a $35 million Series B.
The Series B brings the company’s total funding to $60 million. Other
investors include Salesforce CEO Marc Benioff, Dropbox CEO Drew Houston
and venture firm Sequoia Capital. Forbes last fall estimated the company was worth $90 million after a single year of competing.
The fresh capital will go toward a 15,000-square-foot training
facility and headquarters in Los Angeles, as well as for expanding into
new games and increasing its apparel production.
The facility will be the “center of the universe for all things 100
Thieves,†according to Haag, the company’s founder and CEO, as well as a
Forbes 30 Under 30 alum. “We’ve grown a lot in this past
year…so it’s finally time to put our flag in the ground and make some
place our permanent home.â€
Settling in as early as this October, the offices will house the
company’s staff including players, coaches and content creators, and
will serve not just as a production studio and training space, but also
as a retail storefront for fans. Unlike many esports companies, 100
Thieves has made its retail arm a significant piece of its overall
revenue. All of its seasonal apparel drops have sold out in 20 minutes
or less, with each one selling faster and with 50% more product. Its
most recent sale in April brought in over half-a-million dollars after
selling out in five minutes.
“I don’t think it’s even scratched the surface of what it can be in the future,†Haag says.
The demand during 100 Thieves product launches speaks to the
company’s business model—mixing competitive esports teams with a stable
of popular influencers like Jack “CouRage” Dunlop and Rachell “Valkyrae”
Hofstetter. The tactic might prove useful if talk of a soon-to-burst
esports bubble becomes a reality.
“We’ve insulated our business in way where, this bubble that everyone
continues to talk about, if it were to pop or there were less interest
from investors or sponsors or whatever the case may be, we’re not going
to live and die by esports and esports alone,†Haag says. “If esports
were to disappear tomorrow, we’d still have a really great business
strategy in my opinion.â€
Not to say Haag isn’t still “all-in†on competitive gaming. According
to Haag, 100 Thieves boasts the second-highest payroll in the North
American League of Legends Championship Series, and part of the
new investment is meant for expansion in the space. One title
particularly linked to 100 Thieves is Call of Duty, around which its
publisher Activison Blizzard is planning a city-based league with
franchised team slots reportedly priced at $25 million, according to ESPN.
Haag, who came up as a Call of Duty pro and whose team’s first
championship came in the game earlier this year, says “We’re definitely
still thinking through it.â€
Amazon Enters Edtech Sector With Beta Launch Of Test Prep App
Amazon has launched the IIT JEE Ready test prep app in beta
The app was debuted last month and has had over 1K installs
This is Amazon’s first edtech product for the Indian market
Global ecommerce giant Amazon has been playing several cards to make
more headway in the Indian market. Besides running the ecommerce
marketplace and AWS cloud services, the company has also added a grocery
vertical and is focussing on India-first content for Amazon Prime
Video. Now, the Jeff Bezos-led company is entering a new territory with
the launch of its first edtech app.
Inc42 noted that Amazon has introduced the
JEE Ready app in beta phase, which lets students take free mock tests
for their preparation of Indian engineering test i.e. IIT JEE. The app,
which has been released on the Google Play Store by Amazon Mobile LLC
and was launched last month.
First spotted by NextBigWhat,
JEE Ready lets users take mock tests to prepare for real entrance exams
and has over 1K installs so far. Users can log in with their Amazon ID
and add details such as their target year and the coaching institute
they have enrolled in. Amazon currently lists a few coaching institutes
but the test served to students is the same at the moment.
The users can then take mock tests and submit their answers for
review and results. These results can be compared to scores by other
users to identify strength areas and weak subjects.
JEE Ready: Amazon Enters Tight Edtech Market
The Indian government in its draft national education policy
has said that technology will play an important role in the improvement
of the education system in the country. The draft policy says that the
relationship between technology and education at all levels is
bidirectional.
ADVERTISEMENT
Led by education technology startups, this revolution has now tapped offline players as well.
With its obsession for coaching institutes, India is a great market
for edtech disruption, and the test prep market is one of the largest in
the world. Mary Meeker’s Internet Trends 2019 report
said that online education space has been attracting huge traction and
growth over the past few years in India. The report noted that annual
viewership hours of ‘How To’ videos has reached 4.5 Bn with 59% next
generation users citing it their preferred learning tool.
Edtech players such as Toppr, Unacademy etc have launched digital IIT
JEE preparation products to some degree of success so Amazon has its
work cut out in this sector. Additionally, the likes of BYJU’S, upGrad,
TestBook and others have also made a name for themselves in this sector,
so Amazon will definitely have steep competition in the edtech space.
According to DataLabs by Inc42, there were 3,500 edtech startups
in India in 2018. Between 2014 and 2018, 182 edtech startups were
funded with a total of $1.34 Bn, so the investor interest has remained
high for edtech, and this could explain Amazon’s entry despite the long
list of competitors.
Posted by AGORACOM-JC
at 5:22 PM on Monday, July 15th, 2019
SPONSOR: North Bud Farms Inc. (NBUD:CSE) Sustainable low cost, high
quality cannabinoid production and procurement focusing on both
bio-pharmaceutical development and Cannabinoid Infused Products. Learn More.
NBUD: CSE
—————
The Week In Cannabis: Jay-Z Joins Caliva, Congress Holds Marijuana Hearings, CannTrust Gets Smoked, And More
“Jay-Z entering the cannabis space reaffirms that effective brands will drive the future of the cannabis industry.
We applaud his efforts to be a part of the solution in righting the disproportionate impact that the war on drugs has had on minority communities. Jay personifies the perfect mix of celebrity, entrepreneur and true brand,” said Kraig Fox, CEO of High Times, which first reported the news.Â
On the policy front, Hawaii decriminalized the possession of small
amounts of marijuana, and the U.S. Congress held a landmark hearing
regarding cannabis legalization and the need to reform. Here’s what legalization advocates had to say. In addition, the FDA said
it was “expediting its work to address the many questions about
cannabidiol (CBD),†and Rep. Alexandria Ocasio-Cortez (D-NY) and Sen.
Kamala Harris (D-CA) introduced bills in Congress that seek to ensure
that people with low-level drug convictions are still able to access
public housing, reported Kyle Jaeger on Marijuana Moment.
We also saw a new ETF debut on the NYSE this week. The Cannabis ETF (NYSE: THCX) launched by Innovation Shares claims to be the only pure-play cannabis ETF, with no exposure to tobacco or alcohol.
The fund has lower fees than its NYSE peers and differentiates
itself from others on the back of its monthly rebalancing strategy,
versus a more standard quarterly rebalancing approach, fund adviser Jon
Najarian told Benzinga.
CannTrust Holdings Inc (NYSE: CTST)
got smoked after Health Canada discovered one of its facilities was
non-compliant with regulations. Later in the week, it was reported that
illicitly produced cannabis had been not only sold in Canada but also
exported to Denmark.
“420 Investor” Alan Brochstein told Benzinga he thinks CEO Peter
Aceto should apologize for violating Health Canada rules and resign.
Debra Borchardt, CEO of Green Market Report, said the CannTrust
scandal shows that public cannabis companies can’t always be trusted to
do the right thing.
“This company grew plants in an unlicensed room and figured they’d
get away with it, which is a sign of incredibly poor judgment since this
is such a highly regulated industry. They also admitted to storage
problems at another facility and have since stopped sales,” she said.
The poor decision-making by company leaders hurts patients and shareholders alike, Borchardt said.
“Hiring a quality control officer after the fact just shows this company did too little too late.â€
We invite you to check out our story of the week: “From Coffee To
Cannabis: Colombian Legislators To Move For Adult-Use Legalization.”
Tags: Cannabis, CBD, CSE, Hemp, Marijuana, stocks, tsx, tsx-v, weed Posted in All Recent Posts, North Bud Farms Inc | Comments Off on North Bud Farms Inc. $NBUD.ca – The Week In Cannabis: #Jay-Z Joins #Caliva, #Congress Holds #Marijuana Hearings, #CannTrust Gets Smoked, And More $WEED.ca $CGC $ACB $APH $CRON.ca $HEXO.ca $TRST.ca $OGI.ca
Posted by AGORACOM-JC
at 2:11 PM on Monday, July 15th, 2019
WHY SPYDER CANNABIS?
Developed a scalable retail model with
aggressive expansion plan to create a significant retail footprint and
establishing strategic partners as a top priority
Targeted and disciplined retail distribution strategy focusing on high quality, high traffic peripheral areas
Focused strategy aimed at vertical,
horizontal and geographic diversification with demonstrated operations
expertise and proven retail roll-out
Opened two additional stores in July for a total of 5 locations
Retail Locations
The Lundys Lane Location, two other retail locations that Spyder
operates in Burlington and Calgary and a location that it intends to
open in Guelph, subject to negotiating satisfactory terms with the
landlord, will all be converted into cannabis retail stores as part of
the Company’s “Cannabis Turn-Key Strategy”.
Under phase one of the Turn-Key Strategy
Spyder intends to operate a number of retail locations that will, in
contrast to a number of its competitors, generate revenue by operating
as retailers of a variety of non-cannabis products.
Under phase two of the Turn-Key Strategy
Spyder will, subject to the receipt of cannabis retail licences from
the Alcohol and Gaming Commission of Ontario and the Alberta Gaming,
Liquor and Cannabis Commission, convert these retailers into cannabis
stores at the earliest possible opportunity.
The Company believes this strategy will allow it to generate stable
revenue streams during the interim period before the stores receive a
retail cannabis licence, and will allow the Company to swiftly pivot
into the sale of cannabis products once appropriate licences have been
received.
The Opportunity
Established Product Portfolio
Hemp-Derived Market Opportunity
Retail Layout
FULL DISCLOSURE: Spyder Cannabis is an advertising client of AGORA Internet Relations Corp.
Budget 2019: The high point of higher education in India
Budget 2019-20: The NEP will help India increase its global
presence by stressing on areas like research and innovation, as also
setting up world-class institutions.
Sentiments across the education sector have been primarily positive post Budget announcements.
Increased fund allocation to schools (12.8%) and higher education (14.3%) is commendable.
In fact, at Rs 400 crore, the allocation is over three times revised estimates for last year.
Anil Nagar
Budget 2019 India: Sentiments across the education sector have been
primarily positive post Budget announcements. Increased fund allocation
to schools (12.8%) and higher education (14.3%) is commendable. In fact,
at Rs 400 crore, the allocation is over three times revised estimates
for last year.
As the finance minister noted, five years ago, India was nowhere in
the top-200 world university rankings. However, thanks to initiatives
like GYAN, three of its institutions, including two IITs and IISc
Bangalore, have made it to the list.
Focus on research: The NEP will help India increase its global
presence by stressing on areas like research and innovation, as also
setting up world-class institutions. This will supplement its plans to
promote ‘Study in India’ programme and attract foreign students. The
government plans to present a draft legislation for setting up the
Higher Education Commission of India. Then there is the proposal to
establish the National Research Foundation.
Skill development: Considering the evolution of technology and the
nature of jobs, demographic trends point towards skill shortages in the
future. The government will focus on imparting practical working
knowledge to professionals in innovative technologies such as AI, big
data, 3D printing, robotics, etc.
Edtech industry: As more and more start-ups are entering edtech
space, there is a proposal of a new channel under the Doordarshan
bouquet to provide a platform to them to disseminate information.
But the government has overlooked a few issues that have been
restricting educators and students from realising their full potential.
Edtech industry expected the government to scrap GST on online video
tutorials (18%) and on e-books (5%). However, the Budget did not mention
any change in this area. A revision in rates coupled with measures to
empower the edtech industry will provide a fillip to the economy. It
remains to be seen when will the government take these steps.
The author is founder & CEO, Adda247, a preparation platform for government exams
Posted by AGORACOM-JC
at 9:49 AM on Monday, July 15th, 2019
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companies which are both defensible and mass scalable. More than just
lip service, Inwentash has financed many of Canada’s biggest small-cap
exits. Click Here For More Information.
Bitcoin’s Price Could Rise If Facebook’s Crypto Survives Congress Hearings
Facebook’s fiat and government bond backed cryptocurrency Libra is widely considered a net positive for bitcoin, an anti-establishment asset.
Bitcoin has come under pressure ahead of the U.S. governmental hearings on Facebook’s Libra cryptocurrency on July 16 and 17.
The price of a single bitcoin, which stood near $13,000 five days
ago, fell below $10,000 earlier today and tested the 50-day moving
average at $9,900 for the first time since February 18.
Facebook’s head of Calibra – one of the entities set up to govern and develop the crypto project – David Marcus is scheduled testify to lawmakers on the Senate Banking Committee on Tuesday and the House Financial Services Committee on Wednesday.
The upcoming scrutiny of Libra may be weighing over bitcoin. After
all, past data shows BTC tends to drop ahead of congressional hearings
related to cryptocurrencies and rise on favorable outcomes.
Last year, for instance, BTC fell from $6,820 to $6,070 in five days
to July 12, before rallying to $7,400 on July 18 when the House
Committee on Financial Services gathered for a hearing on “crypto as a new form of moneyâ€.
More importantly, the cryptocurrency remained bid in the following
days and rose to a high of $8,500 on July 24 (according to Bitstamp
data) because the hearing didn’t take an overly negative tone.
On similar lines, BTC dropped from $12,000 to $6,000 in the 10 days leading up to a congressional hearing
on Feb. 6, 2018, where the Securities Exchange Commission (SEC)
chairman and the head of the Commodity Futures Trading Commission
testified before the Senate Banking Committee. That hearing was also
surprisingly positive and BTC rose back to levels above $11,700 by Feb.
20.
Going further back, the price action seen ahead of bitcoin’s first
congressional hearing on Nov. 18, 2013, was slightly different in the
sense that the cryptocurrency was solidly bid, rising from $85 to $650
in six weeks leading up to the event.
Again the hearing on the growing popularity of virtual currencies
wasn’t anti-crypto, allowing BTC to extend the rally to highs above
$1,150 on Nov. 30.
Will BTC rise this time round?
Facebook’s fiat and government bond backed cryptocurrency Libra is
widely considered a net positive for bitcoin, an anti-establishment
asset.
This is evident from the fact that BTC rallied from $9,000 to $13,800
in the eight days following Facebook’s unveiling of Libra’s white paper
on June 18.
So, it is hardly surprising that the leading cryptocurrency is
feeling the pull of gravity ahead of the congressional hearings on Libra
and will likely take a hit if the U.S. lawmakers throw a spanner in the
works for Facebook.
It is worth noting that the likes of the Federal Reserve President
Jerome Powell have already called for a halt to Facebook’s project until
concerns from privacy to money laundering are addressed. President
Trump also criticized the project in tweets last week.
BTC, however, may rise well past $13,800 and possibly hit record
highs before the end of the third quarter if the hearings are more
optimistic.
A far as the technical charts are concerned, the short-term outlook
will remain bullish as long as prices hold above $9,614 (July 2 low).
As of writing, BTC is changing hands at $10,300 on Bitstamp, representing 4.86 percent drop on a 24-hour basis.
Daily and 3-day charts
A UTC close below $9,614 would invalidate the bullish higher-lows pattern and confirm a bullish-to-bearish trend change.
That looks likely with the three-day chart reporting a bearish
divergence of the relative strength index (RSI). The indicator has also
dived out of the ascending trendline, signaling the end of the rally
from December lows.
Further, the previous three-candle closed well below the 10-candle
moving average, a level which acted as strong support throughout the
rise from $3,500 to $13,880, as discussed on Friday.
Weekly chart
The long upper wicks attached to two out of the last three candles
indicates bullish exhaustion and so does the bearish divergence of the
RSI.
All-in-all, the charts are biased for a drop to $9,097 (May 30 high),
unless the congressional hearings are more positive than expected. In
that case, prices may rise above $13,800, signaling a continuation of
the rally.
Hourly chart
BTC has recovered from lows near $9,850 to $10,300. The bearish
lower-highs pattern, however, is still intact. Prices may rise to
$11,200 in the next 24 hours if the cryptocurrency invalidates the
bearish lower highs pattern with a move above $10,732.
Disclosure: The author holds no cryptocurrency assets at the time of writing.
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.
CoinDesk is an independent operating subsidiary of Digital Currency
Group, which invests in cryptocurrencies and blockchain startups.
This article is intended as a news item to inform our readers
of various events and developments that affect, or that might in the
future affect, the value of the cryptocurrency described above. The
information contained herein is not intended to provide, and it does not
provide, sufficient information to form the basis for an investment
decision, and you should not rely on this information for that purpose.
The information presented herein is accurate only as of its date, and it
was not prepared by a research analyst or other investment
professional. You should seek additional information regarding the
merits and risks of investing in any cryptocurrency before deciding to
purchase or sell any such instruments.
