Department Financial News

The Telecom Regulatory Authority of India will issue its recommendation on satellite spectrum allocation methodology and other pending matters after the appointment of a regular chairperson, an official source said. The position of Trai chairperson has been vacant since October 1 after the tenure of P D Vaghela ended in September.

By David Shepardson

Dozens of striking workers and supporters gathered outside the Sobeys-owned grocer Pete’s Frootique in Halifax on Sunday as employees called for an improvement to wages and benefits.

IIT Madras, on Monday said it has developed an information platform exclusively for incubators and accelerators. The institute said that while India had about 1,000 active incubators, until now the information about them was scattered and not easily available in a single location. The platform, developed in partnership with YNOS, an IIT Madras-incubated start-up, contains comprehensive information on incubators and accelerators, which play an important role in helping startups navigate an uncertain entrepreneurial ecosystem.

Sukhvinder Singh Sukhu said on Monday. Launching the e-taxi scheme under the first phase of Rs 680 crore Rajiv Gandhi Self-Employment Start-up Yojna and a website of the Transport Department to facilitate online registration, he said the scheme for the youth was one of the key promises made in the Pratigya Patra of the Congress Party.

Microsoft Corp. capped the weekend with one of its own: the software giant hired ousted OpenAI chief Sam Altman. The moves reshape the world of artificial intelligence given that OpenAI is behind the hugely popular ChatGPT app that took generative AI into the mainstream, and Altman was its figurehead.

Bloomberg report. In the wake of Hamas’s long-planned and brutal October 7 assault on Israel, the Israeli security establishment is looking back on his words in a new light: as part of an effort to create the illusion that Hamas, considered a terrorist group by the US and European Union, was limiting its embrace of violence to focus on governance. Israeli officials now acknowledge that a sense of complacency had set in around Hamas.

By Mike Scarcella

High Court on Monday granted regular bail to TDP chief N Chandrababu Naidu in the Skill Development Corporation scam case. The court converted Naidu's four-week interim medical bail into absolute bail and ordered the former chief minister's release on regular bail.

Citi’s Australian workforce are bracing for layoffs as the US bank rolls out a global restructuring that will involve thousands of job losses.

Ajay Srivastava, CEO, Dimensions Corporate Finance Services, says “the Indian market is about momentum investing. This market is about new stories coming out. This market is about government spending themes. So, you would waste your time if you buy value in this market. Value can go on forever to not be recognised and really speaking at PEs of 25 and 30s, except for banks, it is really difficult to find value. So, forget value.” Markets are doing much better than what everybody thought at the beginning of the year. Well, yes. The answer is yes. But if you look at the vast majority of people who have got invested in largecap funds and who got invested in the banking fund, for them it has not been a good year at this point of time. There are big pockets of market which have done reasonably well or quite well or exceedingly well in that order in the midcaps and smallcaps but if you look at the vast universe of money invested in the largecaps, that has been a very disappointing year for them and we keep saying it is going to repeat itself next year and that is the sad irony that a large portion of funds of retail public are not making even a decent return.

Students, accompanied by their parents, arrived early this morning to attend their classes at a school in the Geeta Colony area today. This comes after the Delhi government announced that schools in Delhi will reopen for physical classes on Monday, November 20, 2023. The reopening is due to a significant decline in pollution levels and an improved Air Quality Index (AQI). The Directorate of Education had earlier this month declared a winter break from November 9-18 due to the poor air quality.

Students from all over the world have chosen the United States of America as their top international study destination. The United States (US) hosted more than one million (1,057,188 to be precise) international students during the 2022-2023 academic year, a 12% increase over the previous academic year and showing the fastest rate of growth in over 40 years. The data is from the Open Doors 2023 Report on International Educational Exchange released recently. According to the US Department of Commerce, international students accounted for 6% of the total higher education population in the US and contributed nearly $38 billion to the US economy.

ChatGPT parent OpenAI as Chief Executive Officer, despite various rounds of discussions with the Board, The Independent has reported. Instead, Emmett Shear – co-founder of Twitch, will take over as Interim CEO, it added. The report quoted co-founder and board director Ilya Sutskever telling staff on November 19 that Altman would not be back.

Various brands of fresh-cut fruit are being recalled by Health Canada due to a possible salmonella contamination.

India offers to facilitate local manufacturing of electric vehicles will be equal for foreign as well as domestic investors, government officials said, amid concerns raised by automakers in India over possible concessions in import duty to American carmaker Tesla. Senior government officials in the know told ET that Tesla has sought provisional tariff concessions as a prerequisite for setting up a manufacturing facility in India, but New Delhi is not in favour of any company-specific exemptions. «The government's approach is for the industry as a whole and not for any specific company because we have very strong domestic companies in this sector,» said an official, adding that any incentives offered will be equal for domestic and foreign investors. The government is in the process of drawing up a policy to incentivise local manufacturing of electric cars, at a time when US EV maker Tesla and its relatively lesser-known Vietnamese rival VinFast are firming up their India entry strategy. While policy guidelines are yet to be finalised, local carmakers said offering concessional tariffs to Tesla will adversely impact investments that have already been made or are being made by them to produce electric vehicles.

Cybersecurity is among the top three important segments for companies in the Indian financial services industry but there is a gap in the industry needs and the availability of skills. Companies in general are looking for experienced professionals but this being a nascent segment, Indian universities have not been producing as many skilled professionals as the industry needs. «The Indian curriculum is more focused on AI, ML, and other data science courses but not cybersecurity,» said Abhik Chatterjee at Boston Consulting Group, which advises top banks in the country.

Coinbase, the prominent cryptocurrency exchange platform, has strategically augmented its Global Advisory Council with the induction of four esteemed national security experts on November 7, 2023. This move comes as part of Coinbase's ongoing efforts to navigate the intricate landscape of global crypto regulations and strategic industry decisions. The newly appointed members are Dr. Mark T. Esper, Stephanie Murphy, Frances Townsend, and David Urban, each bringing a wealth of experience and deep insights into national security, which is becoming increasingly intertwined with the crypto and blockchain sectors.

Travis Head has produced an innings for the ages to lead Australia to a sixth Cricket World Cup crown, beating India by six wickets in the final.

NASA are circulating open letters demanding that President Joe Biden pursue a cease-fire in Israel's war against Hamas. Congressional staffers are picking up microphones in front of the Capitol, speaking out to condemn what they say is the silence of lawmakers about the toll on Palestinian civilians. As the deaths soar in Gaza, Biden and Congress are facing unusually public challenges from the inside over their support for Israel's offensive.

Nirmala Sitharaman on Sunday said women entrepreneurs are accorded first priority under the Centre's flagship Pradhan Mantri Mudra Yojana scheme which offers financial assistance to beneficiaries.Distributing sanction letters to beneficiaries under the PM SVANidhi Se Samriddhi programme which offers loans to street vendors, here, she said officials of the municipalities should identify the uncovered street vendors and help them avail benefits of this scheme. SVANidhi Se Samriddhi is an additional component of the PMSVANidhi scheme to facilitate access to eight Central government schemes to eligible PM SVANidhi beneficiaries and their family members for their holistic development and socio-economic upliftment.