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Justin Trudeau about the best path forward for Canada. Freeland quit just hours before she was due to present a fall economic update to parliament, a document widely expected to show the Liberal government had run up a much larger 2023/24 budget deficit than planned. «For the last number of weeks, you and I have found ourselves at odds over the best path forward for Canada,» Freeland said in a letter to Trudeau posted on X.

The Opposition members alleged that several key safeguards of the Constitution are being breached today under NDA rule, leading to encroachments on the rights of minorities, toppling of elected governments and misuse of the office of governor. Intervening in the debate, Union Minister Hardeep Puri emphasized that Article 370 that gave special status to Jammu and Kashmir was an aberration and against the very idea of India while Article 35A was implemented “quickly and quietly” without the consent of Parliament. Praising the “indomitable courage and resolve” of Prime Minister Narendra Modi, he said Article 370 was abrogated despite apprehensions by some that doing so will be akin to playing with fire.

Expansion of the workforce base will also directly stabilise margins with the operating metrics such as utilisation and offshore mix at near peak levels for most software service providers. Experts say this is a key pillar for margin upside and companies are hiring freshers and investing in training facilities to stabilise the pyramid structure after a lull of the past almost two years.

Double Taxation Avoidance Agreement (DTAA) will not have any impact on the commitments signed in a trade agreement between India and the EFTA bloc, a top government official said on Monday. The Swiss government has suspended the most favoured nation (MFN), which could potentially impact Swiss investments in India and lead to higher taxes on Indian companies operating in the European nation. India and the four-nation European Free Trade Association (EFTA) signed the agreement in March. Its members are Iceland, Liechtenstein, Norway, and Switzerland.

Manipur Chief Minister N Biren Singh said that some agencies were sending manipulative information to New Delhi, the Centre had realised that, and it is collecting information from the grassroots. Seven people are detained in connection with the killing of two migrant labourers from Bihar. Seven cadres of the proscribed underground outfit, Kangleipak Communist Party (People’s War Group) (KCP-PWG) were arrested in connection with the killing of two migrant workers from Bihar. Biren, talking to media persons said, “Misinformation, manipulative information and politicised information were sent by some agencies there in New Delhi. Now the Centre has realised and collected information from the grassroots. Now they have found concert information and they are dealing with it.”

Delhi High Court has directed the chief operating officer and chief executive officer of SpiceJet to appear before it in a plea seeking compliance of over USD 6.03 lakh in payment to the aircraft engines lessors. Justice Manmeet PS Arora «specifically denied» the request of the counsel for judgement debtor, SpiceJet, for the appearance of the two senior officers before the court through video conferencing. «The chief operating officer (COO) and chief executive officer (CEO) of the judgement debtor are directed to remain present in court on the next date of hearing, that is, January 16, 2025,» the court said in its order on December 10. The court was hearing an application by the decree holder and aircraft engine lessor Team France 01 SAS and another, seeking a direction for the compliance of the consent order passed on May 29 wherein the airline was directed to make the payment of USD 6,03,870.82 to the decree holders.

Will Smith and Jamie Foxx, along with these other celebrities, have distanced themselves from Sean Diddy Combs. Celebrities attending a Sean Diddy Combs White Party used to be cool, but there’s been a paradigm shift where distancing themselves from the scandal-plagued hip-hop mogul is the main focus right now. Well-known celebrities who used to hang out or party with Combs, such as Will Smith and Jamie Foxx, are publicly separating themselves from the founder of Bad Boy Entertainment, who has refuted the accusations against him as he awaits his trial date on May 5, 2025, on federal human trafficking and racketeering charges, as quoted in a report.

Subscribe to enjoy similar stories. The origin story of Nvidia has yet to attain the status of technology myth. It isn’t Hewlett and Packard in their garage in Palo Alto, Calif., or Gates and Allen raising hell with the Lakeside School programmers’ group.

Subscribe to enjoy similar stories. Bengaluru: When Pune-based Persistent Systems crossed the $1 billion revenue mark in FY23, a tech services leader asked founder Anand Deshpande how the company, which was formed in 1990, had finally gone past the landmark figure. An industry veteran recounted to Mint that Deshpande smiled when the question was posed, then responded saying, “Credit goes to our team." That team, under chief executive officer (CEO) Sandeep Kalra, who had joined Persistent in May 2019, put the technology services and solutions company on the path to rapid growth, increasing revenue from $501 million in 2020 to $1.18 billion in FY24.

Godavari Biorefineries on Monday announced a Rs 130-crore investment to enhance ethanol production. The investment will be in a corn/grain-based distillery to further strengthen its ethanol production capabilities, the company said in a statement. The Rs 130 crore investment will be done in a new 200 KLPD corn/grain-based distillery to add to its existing operations, enhancing flexibility through dual-feedstock capability, it said. The new facility will be commissioned by March 2026, the statement said, adding that the capital expenditure will be financed through internal accruals and debt.

Kursk border region. The North Korean casualties occurred around three villages in Kursk, where Russia has for four months been trying to quash a Ukrainian incursion, the agency, known by its acronym GUR, said in a public post on the Telegram messaging app. At least three North Korean servicemen went missing around another Kursk village, GUR said.

Magenta Mobility on Monday said it plans to add 10,000 electric vehicles — both three and four-wheelers — over the next financial year and is also looking at expanding into new cities such as Nashik, Nagpur, Vijayawada, Indore and Kolkata, among others. The company also said that after establishing a strong presence in the electric three-wheeler space, it is now aggressively expanding into the four-wheeler category. With a fleet exceeding 500 electric cargo four-wheelers, Magenta Mobility is transforming urban and intercity logistics, it said. Building on its leadership in the three-wheeler EV segment, where it serves major clients in the e-commerce space, Magenta Mobility is now aggressively expanding into the four-wheeler category, the company said.

Therefore, any comprehensive regulatory framework on the subject can be effective only with significant international collaborations on evaluation of the risks and benefits and evaluation of common taxonomy and standards, Minister of State for Finance Pakaj Chaudhary said in a written reply in the Lok Sabha. Further, he said, the need to balance investor protection and innovation must be assessed in light of the broader objective of protecting the Indian economy from the risks posed by the VDA sector while maintaining the financial and monetary stability of the economy.

Army's northern command Monday organised wreath-laying ceremonies at various places in Jammu and Kashmir, and Ladakh to celebrate Vijay Diwas, which marks India's victory over Pakistan in the 1971 war that led to the birth of Bangladesh as an independent nation. The Udhampur-based Northern Command commemorated the occasion with a wreath-laying ceremony led by its General Officer Commanding-in-Chief Lt Gen M V Suchindra Kumar at the Dhruva War Memorial, the Army said. «He (Lt Gen Kumar) interacted with veterans who continue to inspire us through their legacy of courage and dedication,» the Northern Command said in a post on X. The Jammu-based Tiger Division also celebrated the day at the 'Balidan Stambh', a war memorial, here.

Indian commercial banks wrote off ₹12.3 lakh crore in loans between the 2014-15 and 2023-24 financial years, according to government data presented in Parliament. Public sector banks accounted for ₹6.5 lakh crore of these write-offs in the last five years (FY20-24), a ToI report said on December 16. Write-offs peaked at ₹2.4 lakh crore in FY19 following an asset quality review. They dropped to ₹1.7 lakh crore in FY24, representing 1% of the total outstanding bank credit. Public sector banks hold a 51% share of new loans, down from 54% in FY23. As of September 30, 2024, gross non-performing assets (NPAs) for public sector banks were ₹3,16,331 crore (3.01% of outstanding loans), and ₹1,34,339 crore (1.86% of outstanding loans) for private sector banks. State Bank of India wrote off ₹2 lakh crore during the ten-year period, while Punjab National Bank wrote off ₹94,702 crore. Public sector banks wrote off ₹42,000 crore in the first half of the current fiscal year.

Union Budget 2025 set to be presented in February, it’s a great time to dive into the concept of government borrowing and how it connects to the fiscal deficit.

office space leasing of 83-85 million sq ft, beating the previous peak volume of 2023 by 13% y-o-y. According to Cushman & Wakefield, India’s rising attractiveness as a destination for GCCs has had a big influence on demand, as GCCs now account for 30% of gross leasing volume (GLV), with the share slated to rise further. Growth was also driven by healthy volumes seen in the IT-BPM, BFSI, Engineering & Manufacturing (E&M) and flex operator spaces.

Rouse Avenue court on Monday issued a notice to Bharatiya Janata Party (BJP) MP Bansuri Swaraj in a defamation complaint filed by former Minister and Aam Aadmi Party (AAP) leader Satyendra Jain. Jain has filed a criminal defamation complaint against BJP MP Bansuri Swaraj. He has also filed a civil defamation case against her. Additional Chief Judicial Magistrate (ACJM) Neha Mittal issued notice to Swaraj and listed the matter for hearing on December 20 at 11:00 AM.

Nationalist Congress Party (NCP) leader Chhagan Bhujbal on Monday expressed his disappointment at not being included in the new Mahayuti government and said he would decide his future course after talking to people from his constituency. Thirty-nine legislators from Mahayuti allies, the BJP, Shiv Sena and NCP, were sworn in on Sunday in the first cabinet expansion of the Devendra Fadnavis-led government. Ten former ministers were dropped from the cabinet, and 16 new faces have been introduced. Former ministers Bhujbal and Dilip Walse Patil of NCP and Mungantiwar and Vijaykumar Gavit of BJP were some of the prominent leaders excluded from the new cabinet. Talking to reporters, Bhujbal said he was upset at not being included in the new cabinet.

manufacturing sector recorded a steady 5.6% compound annual growth rate (CAGR) in compensation for contractual workers between fiscal years 2021 and 2024, according to the findings of a TeamLease Services report released on Monday. This rise is attributed to inflation, the growing demand for skilled labour and the need for competitive pay to address high attrition rates, said the report, titled ‘A Staffing Perspective on Manufacturing’. The report sheds light on the challenges and opportunities facing the contractual workforce as the sector aims for a $1 trillion valuation by 2025-26.