The International Air Transport Association (IATA) has removed the airline codes “G8” and “9W” assigned to Go First and Jet Airways after being non-operational, Mint reported.

IATA’s head of communications stated that in order to be considered for an IATA two-letter designator, an airline must be in operation. Early in May of this year, Go First Airlines stopped operating its commercial flights.

The "G8"&nbsp;for Go First has been revoked by the IATA, which gives airlines a two-letter designator and numeric codes, for a period of one year.

According to the IATA website, companies are given the airline designator code to use for bookings, schedules, timetables, telecommunications, ticketing, cargo paperwork, legal, tariffs, and other commercial and related traffic purposes.

“One of the requirements for a company to be eligible for an IATA two-letter designator is that the airline needs to be operating. As Go First ceased to operate commercial flights since early May 2023, it is currently not eligible for the IATA two-letter designator,” Mint quoted Albert Tjoeng, Head of Corporate Communications at IATA, as saying in a statement.

According to him, the two-letter designator and numeric codes will be blocked for a period of a year, after which Go First may apply to have the designator reinstated provided the conditions are satisfied.

Budget airline Go First stopped flying on May 3 and is currently going through an insolvency resolution procedure due to financial difficulties and engine problems.

“9W,” a two-letter designator, is still barred in the case of Jet Airways, which was grounded in April 2019.

IATA codes are essential for identifying an airline, its destinations, and papers used in traffic.

The National Company Law Tribunal (NCLT) asked the Insolvency and Bankruptcy Board of India (IBBI) and the Committee of Creditors (CoC) for their approval earlier in July regarding Go First’s proposal to return money to passengers who had made reservations for flights after May 3, the day the airline ceased operations.

The Go First management team, under the direction of the Resolution Professional (RP), filed a refund plan that called for a combination of payment through credit notes given to travellers and travel broker with settlements done using operating revenue.

The National Company Appellate Tribunal (NCLAT) also handed the winning bidder for Jet Airways, the Jalan-Kalrock consortium, till September 30 to pay the Rs 350 crore ($ 42 million) in debts owed to the airline’s lenders.

The consortium’s request to apply Rs 150 crore ($18 million) from a performance bank guarantee towards the payment of 350 crore was also granted by the tribunal.

The NCLAT will take up the remaining issues after September 30th, including the one from the workers who are requesting the recovery of around 224 crore in unpaid wages.

The resolution plan for Jet Airways was approved by the NCLT on June 22, 2021. It was submitted by the Jalan-Kalrock consortium, which included Florian Fritsch and non-resident Indian Murari Lal Jalan. Jalan will own shares in Jet Airways through his investment holding company Kalrock Capital Partners Ltd., Cayman.

In April 2019, Jet Airways was forced to stop operations due to financial issues. However, due to ongoing disagreements between the consortium and the lenders, the transfer of ownership has been on hold.

&nbsp;

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The International Air Transport Association (IATA) has removed the airline codes “G8” and “9W” assigned to Go First and Jet Airways after being non-operational, Mint reported.

The International Air Transport Association (IATA) has removed the airline codes “G8” and “9W” assigned to Go First and Jet Airways after being non-operational, Mint reported. IATA’s head of communications stated that in order to be considered for an IATA two-letter designator, an airline must be in operation. Early in May of this year, Go First Airlines stopped operating its commercial flights. The "G8" for Go First has been revoked by the IATA, which gives airlines a two-letter designator and numeric codes, for a period of one year. According to the IATA website, companies are given the airline designator code to use for bookings, schedules, timetables, telecommunications, ticketing, cargo paperwork, legal, tariffs, and other commercial and related traffic purposes. “One of the requirements for a company to be eligible for an IATA two-letter designator is that the airline needs to be operating. As Go First ceased to operate commercial flights since early May 2023, it is currently not eligible for the IATA two-letter designator,” Mint quoted Albert Tjoeng, Head of Corporate Communications at IATA, as saying in a statement. According to him, the two-letter designator and numeric codes will be blocked for a period of a year, after which Go First may apply to have the designator reinstated provided the conditions are satisfied. Budget airline Go First stopped flying on May 3 and is currently going through an insolvency resolution procedure due to financial difficulties and engine problems. “9W,” a two-letter designator, is still barred in the case of Jet Airways, which was grounded in April 2019. IATA codes are essential for identifying an airline, its destinations, and papers used in traffic. The National Company Law Tribunal (NCLT) asked the Insolvency and Bankruptcy Board of India (IBBI) and the Committee of Creditors (CoC) for their approval earlier in July regarding Go First’s proposal to return money to passengers who had made reservations for flights after May 3, the day the airline ceased operations. The Go First management team, under the direction of the Resolution Professional (RP), filed a refund plan that called for a combination of payment through credit notes given to travellers and travel broker with settlements done using operating revenue. The National Company Appellate Tribunal (NCLAT) also handed the winning bidder for Jet Airways, the Jalan-Kalrock consortium, till September 30 to pay the Rs 350 crore ($ 42 million) in debts owed to the airline’s lenders. The consortium’s request to apply Rs 150 crore ($18 million) from a performance bank guarantee towards the payment of 350 crore was also granted by the tribunal. The NCLAT will take up the remaining issues after September 30th, including the one from the workers who are requesting the recovery of around 224 crore in unpaid wages. The resolution plan for Jet Airways was approved by the NCLT on June 22, 2021. It was submitted by the Jalan-Kalrock consortium, which included Florian Fritsch and non-resident Indian Murari Lal Jalan. Jalan will own shares in Jet Airways through his investment holding company Kalrock Capital Partners Ltd., Cayman. In April 2019, Jet Airways was forced to stop operations due to financial issues. However, due to ongoing disagreements between the consortium and the lenders, the transfer of ownership has been on hold. WATCH WION LIVE HERE

Jet Airways and Go Fist lose their airlines codes after being non-operational: Report

Elon Musk has always bragged about how user privacy has always come first at X, formerly known as Twitter. According to a Bloomberg report, the social media site is now planning to gather users’ biometric information and educational background. This is a section of X’s revised privacy statement, which will be put into effect starting on September 29.

According to the report, biometrics are only required for premium subscribers. Additionally, they will have the choice to submit a photocopy of their government ID for verification. For matching purposes, the biometric information may be derived from both the ID and the photos.&nbsp;

A spokeswoman for X responded to Bloomberg’s inquiry regarding the update’s motivation by saying, “This will additionally help us tie, for those that choose, an account to a real person by processing their government-issued ID. This will also help X fight impersonation attempts and make the platform more secure.”

According to X’s amended policy, “Based on your consent, we may collect and use your biometric information for safety, security, and identification purposes.” Notably, this doesn’t specify exactly what information falls under the category of biometric data, which typically includes traits like a person’s face or fingerprints. X has not specified how it intends to gather this information.

According to X’s policy, educational information and employment history will be gathered to recommend possible positions to users. “We may collect and use your personal information (such as your employment history, educational history, employment preferences, skills and abilities, job search activity and engagement, and so on) to recommend potential jobs for you, to share with potential employers when you apply for a job, to enable employers to find potential candidates, and to show you more relevant advertising.”

Intriguingly, X recently established an official handle @Xhiring, implying that it is also entering the job search vertical. The platform now enables verified businesses to post job vacancies on their profiles as a beta feature of X.

Musk has promised that users will soon be able to make audio and video calls on the platform without a phone number since he is fully committed to making X an all-encompassing app. This function will work with iOS, Android, Mac, and PC.

(With inputs from Bloomberg)

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Elon Musk has always bragged about how user privacy has always come first at X, formerly known as Twitter. According to a Bloomberg report, the social media site is now planning to gather users’ biometric information and educational background.

Elon Musk has always bragged about how user privacy has always come first at X, formerly known as Twitter. According to a Bloomberg report, the social media site is now planning to gather users’ biometric information and educational background. This is a section of X’s revised privacy statement, which will be put into effect starting on September 29. According to the report, biometrics are only required for premium subscribers. Additionally, they will have the choice to submit a photocopy of their government ID for verification. For matching purposes, the biometric information may be derived from both the ID and the photos. A spokeswoman for X responded to Bloomberg’s inquiry regarding the update’s motivation by saying, “This will additionally help us tie, for those that choose, an account to a real person by processing their government-issued ID. This will also help X fight impersonation attempts and make the platform more secure.” According to X’s amended policy, “Based on your consent, we may collect and use your biometric information for safety, security, and identification purposes.” Notably, this doesn’t specify exactly what information falls under the category of biometric data, which typically includes traits like a person’s face or fingerprints. X has not specified how it intends to gather this information. According to X’s policy, educational information and employment history will be gathered to recommend possible positions to users. “We may collect and use your personal information (such as your employment history, educational history, employment preferences, skills and abilities, job search activity and engagement, and so on) to recommend potential jobs for you, to share with potential employers when you apply for a job, to enable employers to find potential candidates, and to show you more relevant advertising.” Intriguingly, X recently established an official handle @Xhiring, implying that it is also entering the job search vertical. The platform now enables verified businesses to post job vacancies on their profiles as a beta feature of X. Musk has promised that users will soon be able to make audio and video calls on the platform without a phone number since he is fully committed to making X an all-encompassing app. This function will work with iOS, Android, Mac, and PC. (With inputs from Bloomberg) WATCH WION LIVE HERE

Elon Musk’s X to collect user’s facial data, fingerprints, employment and educational details: Explained

As concerns about an impending rate hike in the US arise, foreign portfolio investment flows (FPIs) into Indian markets have decreased in August following a strong inflow from April to July, according to a report by Mint.

This led to higher bond yields and a stronger dollar. August saw the weakest inflows since February. Due to worries about a rate hike, emerging countries have begun to pull out.

The portfolio flow data is inclusive of investments made on the primary market and in wholesale transactions. After three months of nonstop buying in the cash market, foreign portfolio investors (FPIs) were net sellers, Mint cited VK Vijayakumar, chief investment strategist at Geojit Financial Services.

According to Vijayakumar, the main factor driving FPIs to sell in the cash market has been the rise in US bond yields and the strength of the dollar index, both of which are detrimental to capital inflows. He said that the financial industry’s profit-booking practices also played a role in the selling by FPIs.

Mint cited Siddharth Khemka, head of retail research at Motilal Oswal Financial Services Ltd., who maintained that, the uncertainty is likely to persist. “There is no clear trend. Uncertainty has increased with no clear indication of the US Federal Reserve’s outlook from US jobs data. The China factor remains another major concern,” Khemka told Mint.

However, block agreements and private equity fund investments show that there is still significant wide market activity. According to analysts, market demand is still quite high as evidenced by subscriptions to initial public offerings (IPOs). Despite their positivity, the market trend is expected to continue to be erratic.

Another rate increase will affect the currency and liquidity, and there are negative risks, according to Khemka.

India is presently facing threats over rising oil prices and uncertainty, raising concerns.

“Currency volatility is again a major risk, and dry weather conditions in September could also add to concerns,” &nbsp;Vikram Cassatt, head of advising at Prabhudas Lilladher Pvt Ltd told Mint. He also pointed out that there may be additional variables, such as inflation rates.

Nishit Master, a portfolio manager at Axis Securities PMS, mentioned that depreciation in rupee versus dollar valuation arbitrage, which could push flows to the Chinese market because it is less expensive, as well as potential increases in energy prices and inflation, are factors that could have a “not very positive” impact on FPI flows in the short term.

On brighter side, FPIs have been selling in the majority of emerging economies in August, primarily as a result of the strengthening dollar and declining bond yields. However, they have performed well in India as compared to other rising markets.

According to Cassatt, Malaysia is the only other Asian market that has had inflows that are higher than those of China, South Korea, and a number of other nations that have experienced significant outflows.

“India can continue to outperform other emerging markets,” Cassatt said.

In terms of economic growth, India is doing well. The robust profit trajectory seen during the first quarter also helped to underpin the markets.

According to Master, the majority of developed markets, including the US, Japan, and the EU (European Union), are either experiencing a recession or have relatively poor growth rates. Even China’s growth has fallen short of market estimates and is predicted to continue to be weak moving forward.

The only big country that would experience substantial growth and draw FPI inflows in such a case is India, according to Master.

Master predicts that FPIs would continue to pour into India despite the dearth of investment prospects.

&nbsp;

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As concerns about an impending rate hike in the US arise, foreign portfolio investment flows (FPIs) into Indian markets have decreased in August following a strong inflow from April to July, according to a report by Mint.

As concerns about an impending rate hike in the US arise, foreign portfolio investment flows (FPIs) into Indian markets have decreased in August following a strong inflow from April to July, according to a report by Mint. This led to higher bond yields and a stronger dollar. August saw the weakest inflows since February. Due to worries about a rate hike, emerging countries have begun to pull out. The portfolio flow data is inclusive of investments made on the primary market and in wholesale transactions. After three months of nonstop buying in the cash market, foreign portfolio investors (FPIs) were net sellers, Mint cited VK Vijayakumar, chief investment strategist at Geojit Financial Services. According to Vijayakumar, the main factor driving FPIs to sell in the cash market has been the rise in US bond yields and the strength of the dollar index, both of which are detrimental to capital inflows. He said that the financial industry’s profit-booking practices also played a role in the selling by FPIs. Mint cited Siddharth Khemka, head of retail research at Motilal Oswal Financial Services Ltd., who maintained that, the uncertainty is likely to persist. “There is no clear trend. Uncertainty has increased with no clear indication of the US Federal Reserve’s outlook from US jobs data. The China factor remains another major concern,” Khemka told Mint. However, block agreements and private equity fund investments show that there is still significant wide market activity. According to analysts, market demand is still quite high as evidenced by subscriptions to initial public offerings (IPOs). Despite their positivity, the market trend is expected to continue to be erratic. Another rate increase will affect the currency and liquidity, and there are negative risks, according to Khemka. India is presently facing threats over rising oil prices and uncertainty, raising concerns. “Currency volatility is again a major risk, and dry weather conditions in September could also add to concerns,” Vikram Cassatt, head of advising at Prabhudas Lilladher Pvt Ltd told Mint. He also pointed out that there may be additional variables, such as inflation rates. Nishit Master, a portfolio manager at Axis Securities PMS, mentioned that depreciation in rupee versus dollar valuation arbitrage, which could push flows to the Chinese market because it is less expensive, as well as potential increases in energy prices and inflation, are factors that could have a “not very positive” impact on FPI flows in the short term. On brighter side, FPIs have been selling in the majority of emerging economies in August, primarily as a result of the strengthening dollar and declining bond yields. However, they have performed well in India as compared to other rising markets. According to Cassatt, Malaysia is the only other Asian market that has had inflows that are higher than those of China, South Korea, and a number of other nations that have experienced significant outflows. “India can continue to outperform other emerging markets,” Cassatt said. In terms of economic growth, India is doing well. The robust profit trajectory seen during the first quarter also helped to underpin the markets. According to Master, the majority of developed markets, including the US, Japan, and the EU (European Union), are either experiencing a recession or have relatively poor growth rates. Even China’s growth has fallen short of market estimates and is predicted to continue to be weak moving forward. The only big country that would experience substantial growth and draw FPI inflows in such a case is India, according to Master. Master predicts that FPIs would continue to pour into India despite the dearth of investment prospects. WATCH WION LIVE HERE

Uncertainty surrounding India's FPI likely to continue as it hits its six-month low: Report

Indian Prime Minister Narendra Modi on Sunday appealed for “mutual trust” and "democratic values",&nbsp;while speaking of supply chain disruptions during the Covid19 pandemic, indirectly pointing at China, The Times of India reported.

The PM claimed that the Covid-19 pandemic brought about permanent changes in the world, without specifically referring to China. Addressing a B20 meeting, PM Modi pointed out that a market can only be profitable when the interests of producers and consumers are balanced. He further emphasised that the same is true for countries, saying that nations cannot be treated solely as markets.

“It will harm even the producing countries sooner or later. Making everyone equal partners in progress is the way forward,” The Times of India quoted him as saying.

PM Modi's statement, ,coming days after his meeting with China's Xi Jinping on the margins of the BRICS conference in Johannesburg, indicated India’s unease with its eastern neighbour amid rising tensions at the Line of Actual Control.&nbsp;

As businesses want to diversify their manufacturing bases and lessen their reliance on China, India has recently tried to present itself as an appealing investment destination.

Modi also warned of a new form of colonialism over the control of critical and rare minerals.

“We are experiencing this challenge in critical minerals, rare earth. These are available in large quantities in some places and are missing in other places. But the entire mankind needs it. Those who have it and do not see it as a global responsibility, then it will promote a new model of colonialism,” he said.

He advocated for taking an “integrated approach” to cryptocurrencies, a topic that India has prioritised&nbsp;for the upcoming G20 summit in September. He also touched upon the need for a global framework on cryptocurrency, which would cater to the interests of all stakeholders.

PM Modi also raised issues about artificial intelligence, adding that&nbsp;some ethical questions needed to be addressed. In order to discover a solution, the Indian PM maintained that governments and the international business community must ensure proper attention towards ethical AI.

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Indian Prime Minister Narendra Modi on Sunday appealed for “mutual trust” and "democratic values", while speaking of supply chain disruptions during the Covid19 pandemic, indirectly pointing at China, The Times of India reported.

Indian Prime Minister Narendra Modi on Sunday appealed for “mutual trust” and "democratic values", while speaking of supply chain disruptions during the Covid19 pandemic, indirectly pointing at China, The Times of India reported. The PM claimed that the Covid-19 pandemic brought about permanent changes in the world, without specifically referring to China. Addressing a B20 meeting, PM Modi pointed out that a market can only be profitable when the interests of producers and consumers are balanced. He further emphasised that the same is true for countries, saying that nations cannot be treated solely as markets. “It will harm even the producing countries sooner or later. Making everyone equal partners in progress is the way forward,” The Times of India quoted him as saying. PM Modi's statement, ,coming days after his meeting with China's Xi Jinping on the margins of the BRICS conference in Johannesburg, indicated India’s unease with its eastern neighbour amid rising tensions at the Line of Actual Control. As businesses want to diversify their manufacturing bases and lessen their reliance on China, India has recently tried to present itself as an appealing investment destination. Modi also warned of a new form of colonialism over the control of critical and rare minerals. “We are experiencing this challenge in critical minerals, rare earth. These are available in large quantities in some places and are missing in other places. But the entire mankind needs it. Those who have it and do not see it as a global responsibility, then it will promote a new model of colonialism,” he said. He advocated for taking an “integrated approach” to cryptocurrencies, a topic that India has prioritised for the upcoming G20 summit in September. He also touched upon the need for a global framework on cryptocurrency, which would cater to the interests of all stakeholders. PM Modi also raised issues about artificial intelligence, adding that some ethical questions needed to be addressed. In order to discover a solution, the Indian PM maintained that governments and the international business community must ensure proper attention towards ethical AI. WATCH WION LIVE HERE

PM Narendra Modi appeals for 'mutual trust', hits at China during investment pitch

Shares of the Adani Group dropped on Thursday after a report published by the Organized Crime and Corruption Reporting Project (OCCRP) alleged share price manipulation by individuals associated with the promoters.&nbsp;

The overall market value of the Adani Group stood at around $132 billion on Wednesday, before dropping to nearly $128 billion on Thursday.&nbsp;

Barring the shares of ACC, all stocks of the Adani Group ended in the red, falling up to 4 per cent. Shares of Adani Green fell 4.39 per cent, followed by those of Adani Enterprises - the flagship company of the group. Shares of Adani Energy Solutions and Adani Ports ended over 3 per cent lower.

The Adani Group denied the accusations and referred to them as "mischievous and malicious" in a statement.

In a report published on Thursday, the OCCRP, a global network of investigative journalists, said&nbsp;that two men -- Nasser Ali Shaban Ahli and Chang Chung-Ling --&nbsp;with close ties to the Adani family&nbsp;spent&nbsp;years trading millions of dollars' worth of Adani Group stocks.&nbsp;

Records accessed by the OCCRP also revealed that a business controlled by a senior member of the Adani family sent instructions to the investment funds they used to trade in Adani Group shares.

Referring to the January report by US-based Hindenburg Research,&nbsp;which had accused the Indian conglomerate of corporate fraud and share price manipulation, the Adani Group called the news reports as another concerted bid to "revive the meritless Hindenburg report".&nbsp;

"These claims are based on closed cases from a decade ago when the Directorate of Revenue Intelligence (DRI) probed allegations of over invoicing, transfer of funds abroad, related party transactions and investments through FPIs (foreign portfolio investors)," the Adani Group maintained.

The conglomerate added that the Supreme Court of India’s decision in its favor had brought the case to a conclusion in March 2023.&nbsp; The group claimed that there was “no evidence of any breach of the Minimum Public Shareholding (MPS) requirements or manipulation of stock prices".&nbsp;

“We have complete faith in the due process of law and remain confident of the quality of our disclosures and corporate governance standards. In light of these facts, the timing of these news reports is suspicious, mischievous and malicious - and we reject these reports in their entirety,” the Adani Group said.

What does the OCCRP report say?&nbsp;

Documents obtained by OCCRP's allege that hundreds of millions of dollars were invested through mysterious investment funds located in Mauritius in publicly-traded Adani Group stocks.

"In at least two cases, representing Adani stock holdings that at one point reached $430 million, the mysterious investors turn out to have widely reported ties to the group’s majority shareholders, the Adani family,"&nbsp;the OCCRP claimed&nbsp;in its report.

The documents revealed that two men --&nbsp;&nbsp;Nasser Ali Shaban Ahli and Chang Chung-Ling&nbsp;-- spent years buying and selling Adani stocks through "opaque" Mauritius funds that concealed their involvement and helped them earn large profits. Additionally, the documents showed&nbsp;that the management firm in charge of their investments paid a Vinod Adani-owned firm for investment advice.

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Shares of the Adani Group dropped on Thursday after a report published by the Organized Crime and Corruption Reporting Project (OCCRP) alleged share price manipulation by individuals associated with the promoters.

Shares of the Adani Group dropped on Thursday after a report published by the Organized Crime and Corruption Reporting Project (OCCRP) alleged share price manipulation by individuals associated with the promoters. The overall market value of the Adani Group stood at around $132 billion on Wednesday, before dropping to nearly $128 billion on Thursday. Barring the shares of ACC, all stocks of the Adani Group ended in the red, falling up to 4 per cent. Shares of Adani Green fell 4.39 per cent, followed by those of Adani Enterprises - the flagship company of the group. Shares of Adani Energy Solutions and Adani Ports ended over 3 per cent lower. The Adani Group denied the accusations and referred to them as "mischievous and malicious" in a statement. In a report published on Thursday, the OCCRP, a global network of investigative journalists, said that two men -- Nasser Ali Shaban Ahli and Chang Chung-Ling -- with close ties to the Adani family spent years trading millions of dollars' worth of Adani Group stocks. Records accessed by the OCCRP also revealed that a business controlled by a senior member of the Adani family sent instructions to the investment funds they used to trade in Adani Group shares. Referring to the January report by US-based Hindenburg Research, which had accused the Indian conglomerate of corporate fraud and share price manipulation, the Adani Group called the news reports as another concerted bid to "revive the meritless Hindenburg report". "These claims are based on closed cases from a decade ago when the Directorate of Revenue Intelligence (DRI) probed allegations of over invoicing, transfer of funds abroad, related party transactions and investments through FPIs (foreign portfolio investors)," the Adani Group maintained. The conglomerate added that the Supreme Court of India’s decision in its favor had brought the case to a conclusion in March 2023. The group claimed that there was “no evidence of any breach of the Minimum Public Shareholding (MPS) requirements or manipulation of stock prices". “We have complete faith in the due process of law and remain confident of the quality of our disclosures and corporate governance standards. In light of these facts, the timing of these news reports is suspicious, mischievous and malicious - and we reject these reports in their entirety,” the Adani Group said. What does the OCCRP report say? Documents obtained by OCCRP's allege that hundreds of millions of dollars were invested through mysterious investment funds located in Mauritius in publicly-traded Adani Group stocks. "In at least two cases, representing Adani stock holdings that at one point reached $430 million, the mysterious investors turn out to have widely reported ties to the group’s majority shareholders, the Adani family," the OCCRP claimed in its report. The documents revealed that two men -- Nasser Ali Shaban Ahli and Chang Chung-Ling -- spent years buying and selling Adani stocks through "opaque" Mauritius funds that concealed their involvement and helped them earn large profits. Additionally, the documents showed that the management firm in charge of their investments paid a Vinod Adani-owned firm for investment advice. WATCH WION LIVE HERE

Adani share prices fall following reports of alleged share price manipulation 

Japan on Thursday saw its first strike in decades, as employees of a large department store in Tokyo protested the&nbsp;sale of their company to a US-based investor.&nbsp;

At the flagship Seibu shop in the busy Tokyo neighbourhood of Ikebukuro, over 900 employees held a one-day strike protesting the sale of Sogo &amp; Seibu, a division of the Japanese retail behemoth Seven &amp; i, to the Fortress Investment Group.

On Thursday morning, Seibu employees demonstrated in front of the store in the sweltering heat while supporters from other unions distributed pamphlets.

Unhappy with the contingency plans, under which discount electronics retailer Yodobashi Holdings may take over nearly half of the store, the protesting employees demanded job security guarantees.

Following months of negotiations between Sogo &amp; Seibu management and the workers’ union, the strike, the first at a major Japanese department store in 61 years, took place amid a severe labour shortage in Japan.

In Japan, where wage and working-condition negotiations are often settled peacefully, strikes are incredibly uncommon.&nbsp;

Seven &amp; i apologised for the strike and assured the workers' union that negotiations would continue. The regular business hours were observed at other Seibu and Sogo department stores.

The takeover deal

The agreement would be finalised on Friday, Seven &amp; i announced, adding that it had asked Fortress to give “maximum consideration of Sogo &amp; Seibu’s business continuation and continuation of employment".&nbsp;

This, however, resulted in a reduction of Sogo &amp; Seibu’s sale value from the initially agreed 250 billion yen to 30 billion yen ($205 million).

As part of the agreement, Seven and i will also let go of the 91.6 billion yen in debt, which is more than half of the total sum it has lent to its unit.

Fortress said in a statement that it will collaborate with Seven &amp; i to help Sogo &amp; Seibu’s management keep its personnel “to the extent possible”.&nbsp;

It stated that it intended to refurbish Sogo &amp; Seibu’s outlets alongside partner Yodobashi for an investment of more than 20 billion yen.

(With inputs from Reuters)

Japan on Thursday saw its first strike in decades, as employees of a large department store in Tokyo protested the sale of their company to a US-based investor. At the flagship Seibu shop in the busy Tokyo neighbourhood of Ikebukuro, over 900 employees held a one-day strike protesting the sale of Sogo & Seibu, a division of the Japanese retail behemoth Seven & i, to the Fortress Investment Group.

Japan on Thursday saw its first strike in decades, as employees of a large department store in Tokyo protested the sale of their company to a US-based investor. At the flagship Seibu shop in the busy Tokyo neighbourhood of Ikebukuro, over 900 employees held a one-day strike protesting the sale of Sogo & Seibu, a division of the Japanese retail behemoth Seven & i, to the Fortress Investment Group. On Thursday morning, Seibu employees demonstrated in front of the store in the sweltering heat while supporters from other unions distributed pamphlets. Unhappy with the contingency plans, under which discount electronics retailer Yodobashi Holdings may take over nearly half of the store, the protesting employees demanded job security guarantees. Following months of negotiations between Sogo & Seibu management and the workers’ union, the strike, the first at a major Japanese department store in 61 years, took place amid a severe labour shortage in Japan. In Japan, where wage and working-condition negotiations are often settled peacefully, strikes are incredibly uncommon. Seven & i apologised for the strike and assured the workers' union that negotiations would continue. The regular business hours were observed at other Seibu and Sogo department stores. The takeover deal The agreement would be finalised on Friday, Seven & i announced, adding that it had asked Fortress to give “maximum consideration of Sogo & Seibu’s business continuation and continuation of employment". This, however, resulted in a reduction of Sogo & Seibu’s sale value from the initially agreed 250 billion yen to 30 billion yen ($205 million). As part of the agreement, Seven and i will also let go of the 91.6 billion yen in debt, which is more than half of the total sum it has lent to its unit. Fortress said in a statement that it will collaborate with Seven & i to help Sogo & Seibu’s management keep its personnel “to the extent possible”. It stated that it intended to refurbish Sogo & Seibu’s outlets alongside partner Yodobashi for an investment of more than 20 billion yen. (With inputs from Reuters)

Japan sees its first strike in decades as workers oppose department store sale  

After acquiring its struggling rival Credit Suisse, UBS announced on Thursday that it will eliminate 3,000 jobs in Switzerland alone as part of a $10 billion cost-cutting program.

The newly-expanded bank giant’s intention to eliminate one in every twelve Swiss positions provides a sense of the magnitude of the restructuring as UBS struggles to merge a rival that collapsed after terrified customers withdrew billions from their accounts.

The majority of savings are anticipated to come from personnel reductions, and analysts predict that between 30,000 and 35,000 jobs might be lost internationally.

The layoffs come after the largest wealth manager in the world chose to absorb Credit Suisse's local branch, which was its only successful division last year, rather than split it off, as UBS also thought about doing.

“Our analysis clearly shows that a full integration is the best outcome for UBS ... and the Swiss economy,” UBS Chief Executive Sergio Ermotti told Reuters.

3,000 Swiss positions would be lost, according to a memo from Ermotti to the workforce, although more workers are likely to leave on their own, perhaps through retirement. Credit Suisse had previously reported that 8,000 individuals left the bank in recent months, before Thursday’s layoffs, so the actual number could be far higher.

In contrast to an earlier estimate of $8 billion by 2027, the UBS forecast more than $10 billion in cost reductions by the end of 2026.

The cuts, disclosed alongside the first financial figures published since the acquisition, led to UBS shares rising six per cent in late afternoon trade, reaching highs not seen since 2008.

UBS, which has a market value of 77 billion Swiss francs, has also expressed optimism about its near-term prospects. Rich clients’ attitudes are improving, and the firm anticipates that better financial markets will increase the amount it earns through fees.

However, there is controversy in Switzerland over the choice to acquire Credit Suisse’s local unit. Swiss pension funds and foundations that owned stock in both banks, represented by proxy adviser Ethos, said that a spinoff would have prevented “a major systemic risk for Switzerland, an important negative impact on employment, and issues for the fair competition.”

Ethos has supported a class-action lawsuit that is suing UBS for the buyout at a lower price.

(With inputs from Reuters)

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After acquiring its struggling rival Credit Suisse, UBS announced on Thursday that it will eliminate 3,000 jobs in Switzerland alone as part of a $10 billion cost-cutting program.

After acquiring its struggling rival Credit Suisse, UBS announced on Thursday that it will eliminate 3,000 jobs in Switzerland alone as part of a $10 billion cost-cutting program. The newly-expanded bank giant’s intention to eliminate one in every twelve Swiss positions provides a sense of the magnitude of the restructuring as UBS struggles to merge a rival that collapsed after terrified customers withdrew billions from their accounts. The majority of savings are anticipated to come from personnel reductions, and analysts predict that between 30,000 and 35,000 jobs might be lost internationally. The layoffs come after the largest wealth manager in the world chose to absorb Credit Suisse's local branch, which was its only successful division last year, rather than split it off, as UBS also thought about doing. “Our analysis clearly shows that a full integration is the best outcome for UBS ... and the Swiss economy,” UBS Chief Executive Sergio Ermotti told Reuters. 3,000 Swiss positions would be lost, according to a memo from Ermotti to the workforce, although more workers are likely to leave on their own, perhaps through retirement. Credit Suisse had previously reported that 8,000 individuals left the bank in recent months, before Thursday’s layoffs, so the actual number could be far higher. In contrast to an earlier estimate of $8 billion by 2027, the UBS forecast more than $10 billion in cost reductions by the end of 2026. The cuts, disclosed alongside the first financial figures published since the acquisition, led to UBS shares rising six per cent in late afternoon trade, reaching highs not seen since 2008. UBS, which has a market value of 77 billion Swiss francs, has also expressed optimism about its near-term prospects. Rich clients’ attitudes are improving, and the firm anticipates that better financial markets will increase the amount it earns through fees. However, there is controversy in Switzerland over the choice to acquire Credit Suisse’s local unit. Swiss pension funds and foundations that owned stock in both banks, represented by proxy adviser Ethos, said that a spinoff would have prevented “a major systemic risk for Switzerland, an important negative impact on employment, and issues for the fair competition.” Ethos has supported a class-action lawsuit that is suing UBS for the buyout at a lower price. (With inputs from Reuters) WATCH WION LIVE HERE

UBS to cut 3,000 jobs to save costs after taking over Credit Suisse: Report 

The backlogs for employment-based green cards are at a new record high with more than 1.8 million immigrants waiting for news on their application.

These immigrants include those who have been sponsored by American businesses or investors but are unable to enter the country because annual limits on green cards available in these categories. The country caps, which restrict any country from acquiring more than 7 per cent of the green cards unless they are left unused by other countries, also have an impact on the line.

Due to this, immigrants from India, who make up 1.1 million of the backlog, must endure the longest before they receive their green cards.

Manu Saigal, General Staffing Directorat Adecco India, noted that given the current circumstances, the potential that India’s experts bring to the global stage cannot be ignored. However, the delays that skilled Indian workers encounter when applying for employment-based green cards not only hamper their personal goals but also create a barrier for companies hoping to capitalise on their skills.

“The uncertainty and protracted processing times act as a deterrent for highly skilled individuals, who could otherwise contribute significantly to their host countries,” she added.

There were 80,324 petitions pending as of March 2023, representing a total of around 171,635 persons, including the spouses and children of the workers. 289,000 people were waiting for the processing of their green card applications, and another 1.3 million people were on hold.

“Efficient immigration policies play a pivotal role in capitalising on the capabilities of international talent. Streamlined processes for green card allocations could unlock India’s workforce potential even further, allowing companies to access the right skills at the right time. Reforming immigration systems can help strike a balance between safeguarding national interests and nurturing global talent mobility,” Saigal said in a statement.

She continued by saying that while it is true that India is becoming a talent hotspot, it is crucial to solve the problems caused by prolonged wait times for green cards for both individuals and the global business landscape.

&nbsp;

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The backlogs for employment-based green cards are at a new record high with more than 1.8 million immigrants waiting for news on their application. These immigrants include those who have been sponsored by American businesses or investors but are unable to enter the country because annual limits on green cards available in these categories.

The backlogs for employment-based green cards are at a new record high with more than 1.8 million immigrants waiting for news on their application. These immigrants include those who have been sponsored by American businesses or investors but are unable to enter the country because annual limits on green cards available in these categories. The country caps, which restrict any country from acquiring more than 7 per cent of the green cards unless they are left unused by other countries, also have an impact on the line. Due to this, immigrants from India, who make up 1.1 million of the backlog, must endure the longest before they receive their green cards. Manu Saigal, General Staffing Directorat Adecco India, noted that given the current circumstances, the potential that India’s experts bring to the global stage cannot be ignored. However, the delays that skilled Indian workers encounter when applying for employment-based green cards not only hamper their personal goals but also create a barrier for companies hoping to capitalise on their skills. “The uncertainty and protracted processing times act as a deterrent for highly skilled individuals, who could otherwise contribute significantly to their host countries,” she added. There were 80,324 petitions pending as of March 2023, representing a total of around 171,635 persons, including the spouses and children of the workers. 289,000 people were waiting for the processing of their green card applications, and another 1.3 million people were on hold. “Efficient immigration policies play a pivotal role in capitalising on the capabilities of international talent. Streamlined processes for green card allocations could unlock India’s workforce potential even further, allowing companies to access the right skills at the right time. Reforming immigration systems can help strike a balance between safeguarding national interests and nurturing global talent mobility,” Saigal said in a statement. She continued by saying that while it is true that India is becoming a talent hotspot, it is crucial to solve the problems caused by prolonged wait times for green cards for both individuals and the global business landscape. WATCH WION LIVE HERE

Indians endure the longest waits as US’s employment-based Green Card backlog reaches 1.8 MN 

As the infamous blue bird – Larry is freed and replaced by a cold white “X”; Twitter’s identity without its iconic bird is no longer the same. On October 28 last year, Elon Musk acquired Twitter for $44 billion, which according to media reports is a part of his mission to build an “everything app.”&nbsp;

Twitter has now been rebranded to X, with its logo changed and its colour scheme replaced from blue to black. Reports said that the move could potentially change Twitter’s user base and maybe even alienate them from the platform that they knew so well, a couple of months ago.&nbsp;

But what was Twitter like, when it was founded initially?&nbsp;

In this story, we map out the journey of Twitter, from when it was founded in 2006 to how it transformed into “X” today.

The first tweet &nbsp;&nbsp;

Odeo, a podcasting company started in 2004 by Evan Williams, Biz Stone, and Noah Glass, gave rise to Twitter.&nbsp;

The leadership of Odeo believed that the company could not compete with Apple and that a fresh strategy was required when Apple announced in 2005 that it would include podcasts to its digital media application iTunes. When asked about any intriguing side projects they were working on, Jack Dorsey, an engineer at Odeo, suggested a short message service (SMS) where users could post brief blog-like updates with friends. Glass suggested Twttr as a name.&nbsp;

On March 21, 2006, Dorsey posted the first tweet “just setting up my twttr”, and in July of that same year, Twitter officially launched. Williams, Stone, and Dorsey founded Obvious Corp. in October 2006 after purchasing Odeo.&nbsp;

After the platform was introduced during the South by Southwest music and technology convention in Austin, Texas in March 2007, interest in it significantly surged. Due to an inflow of venture cash, Twitter, Inc. was established as a corporate entity the following month, and Dorsey was appointed as the company’s first chief executive officer (CEO).&nbsp;

Twitter over the years&nbsp;

From its inception in 2006 to its peak in 2021, Twitter underwent a remarkable evolution.

2007-2011&nbsp;

In 2007, Twitter secured its initial funding and gained prominence during the South by Southwest conference. 2008 saw the departure of co-founder Jack Dorsey as CEO, followed by the appointment of Evan Williams. Oprah Winfrey’s endorsement in 2009 catapulted Twitter into the mainstream. By 2010, NASA had astronauts tweeting from space, but management turmoil continued as Dick Costolo replaced Williams as CEO. In 2011, Twitter became a vital tool during the Arab Spring and broke news worldwide.

2012-2015&nbsp;

In 2012, Twitter reached 200 million active users, and even President Barack Obama employed the platform for major announcements. The company went public in 2013, with its key figures amassing substantial wealth. However, slowing user growth and stock fluctuations marked 2014. Twitter struggled against tech giants like Google and Facebook, prompting Jack Dorsey’s return as CEO in 2015.

2016-2018&nbsp;

Rumours of acquisition swirled in 2016, while Twitter faced criticism for enabling the spread of misleading information, exemplified by Donald Trump’s use of the platform. In 2017, Twitter’s stock rebounded, with Trump leading the platform’s conversations. The following year, Dorsey and Facebook’s Sheryl Sandberg testified about election interference, and concerns of political bias emerged.

2019-2021&nbsp;

In 2019, Twitter’s influence on markets and its role in public discourse were evident as Trump’s tweets correlated with market fluctuations. The year also saw a meeting between Trump and Dorsey. In 2020, Twitter grappled with the COVID-19 infodemic and a security breach involving high-profile accounts. Finally, in 2021, Twitter took a dramatic turn by permanently banning Trump due to his involvement in the Capitol riots. Shortly thereafter, Jack Dorsey stepped down as CEO, succeeded by Parag Agrawal, marking a pivotal moment in the platform’s history. Twitter had evolved from a fledgling social media startup to a global force, shaping discourse, politics, and news dissemination.

The era of X&nbsp;

On October 28, 2022, Elon Musk completed a $44 billion transaction to take Twitter Inc. private. He then assumed control of the significant social media site by promptly sacking its senior executives.

He tweeted, “The bird is freed,” in a reference to his wish to see the corporation loosen its restrictions on what can be posted.

Major changes&nbsp;

Elon Musk’s acquisition of Twitter ushered in a wave of substantial policy changes on the platform.&nbsp;

These changes ranged from the imposition of daily tweet limits, varying from 10,000 posts for verified users to 500 posts for new unverified users, to the requirement for users to log in or create an account to access user profiles and tweets, aimed at safeguarding user data.

The platform also allowed publishers to charge users on a per-article basis, and content subscriptions became part of its revenue strategy, with X taking a 10 percent cut after the first year.

Emphasising transparency, Musk open-sourced “literally everything”. But he also banned accounts linked to rival social media platforms.&nbsp;

A significant restructuring of staff occurred, resulting in mass layoffs and leadership changes, including Linda Yaccarino becoming the CEO.&nbsp; X was merged with Musk’s firm, X Corp, and a move towards AI to combat manipulation of public opinion was initiated.

Twitter also underwent a significant rebranding, emerging as X. This rebranding was accompanied by the unveiling of a new logo, replacing the iconic Twitter bird. The transition aimed to align the platform with Musk’s vision of creating a multifunctional “everything app” akin to WeChat.&nbsp;

However, this transformation prompted mixed reactions and a flurry of memes from users, questioning the decision to replace the well-known bird logo.

Navigating the future of Twitter (X)&nbsp;

Musk’s future plans include transforming X into an “ultra-app” with video and voice calls, introducing a payments feature, and charging for two-factor authentication to enhance security.&nbsp;

As Musk makes the push for Twitter/X to transform into an “everything app”, recent events suggest that the platform will soon assist companies with employment, emerging as a potential competitor to LinkedIn.&nbsp;

This comes after Musk wrote on X, “People send me LinkedIn links sometimes, but the cringe level is so high that I just can't bring myself to use it, so I ask for the resume or bio to be emailed. We will make sure that the X competitor to LinkedIn is cool.”

&nbsp;

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As the infamous blue bird – Larry is freed and replaced by a cold white “X”; Twitter’s identity without its iconic bird is no longer the same. On October 28 last year, Elon Musk acquired Twitter for $44 billion, which according to media reports is a part of his mission to build an “everything app.

As the infamous blue bird – Larry is freed and replaced by a cold white “X”; Twitter’s identity without its iconic bird is no longer the same. On October 28 last year, Elon Musk acquired Twitter for $44 billion, which according to media reports is a part of his mission to build an “everything app.” Twitter has now been rebranded to X, with its logo changed and its colour scheme replaced from blue to black. Reports said that the move could potentially change Twitter’s user base and maybe even alienate them from the platform that they knew so well, a couple of months ago. But what was Twitter like, when it was founded initially? In this story, we map out the journey of Twitter, from when it was founded in 2006 to how it transformed into “X” today. The first tweet Odeo, a podcasting company started in 2004 by Evan Williams, Biz Stone, and Noah Glass, gave rise to Twitter. The leadership of Odeo believed that the company could not compete with Apple and that a fresh strategy was required when Apple announced in 2005 that it would include podcasts to its digital media application iTunes. When asked about any intriguing side projects they were working on, Jack Dorsey, an engineer at Odeo, suggested a short message service (SMS) where users could post brief blog-like updates with friends. Glass suggested Twttr as a name. On March 21, 2006, Dorsey posted the first tweet “just setting up my twttr”, and in July of that same year, Twitter officially launched. Williams, Stone, and Dorsey founded Obvious Corp. in October 2006 after purchasing Odeo. After the platform was introduced during the South by Southwest music and technology convention in Austin, Texas in March 2007, interest in it significantly surged. Due to an inflow of venture cash, Twitter, Inc. was established as a corporate entity the following month, and Dorsey was appointed as the company’s first chief executive officer (CEO). Twitter over the years From its inception in 2006 to its peak in 2021, Twitter underwent a remarkable evolution. 2007-2011 In 2007, Twitter secured its initial funding and gained prominence during the South by Southwest conference. 2008 saw the departure of co-founder Jack Dorsey as CEO, followed by the appointment of Evan Williams. Oprah Winfrey’s endorsement in 2009 catapulted Twitter into the mainstream. By 2010, NASA had astronauts tweeting from space, but management turmoil continued as Dick Costolo replaced Williams as CEO. In 2011, Twitter became a vital tool during the Arab Spring and broke news worldwide. 2012-2015 In 2012, Twitter reached 200 million active users, and even President Barack Obama employed the platform for major announcements. The company went public in 2013, with its key figures amassing substantial wealth. However, slowing user growth and stock fluctuations marked 2014. Twitter struggled against tech giants like Google and Facebook, prompting Jack Dorsey’s return as CEO in 2015. 2016-2018 Rumours of acquisition swirled in 2016, while Twitter faced criticism for enabling the spread of misleading information, exemplified by Donald Trump’s use of the platform. In 2017, Twitter’s stock rebounded, with Trump leading the platform’s conversations. The following year, Dorsey and Facebook’s Sheryl Sandberg testified about election interference, and concerns of political bias emerged. 2019-2021 In 2019, Twitter’s influence on markets and its role in public discourse were evident as Trump’s tweets correlated with market fluctuations. The year also saw a meeting between Trump and Dorsey. In 2020, Twitter grappled with the COVID-19 infodemic and a security breach involving high-profile accounts. Finally, in 2021, Twitter took a dramatic turn by permanently banning Trump due to his involvement in the Capitol riots. Shortly thereafter, Jack Dorsey stepped down as CEO, succeeded by Parag Agrawal, marking a pivotal moment in the platform’s history. Twitter had evolved from a fledgling social media startup to a global force, shaping discourse, politics, and news dissemination. The era of X On October 28, 2022, Elon Musk completed a $44 billion transaction to take Twitter Inc. private. He then assumed control of the significant social media site by promptly sacking its senior executives. He tweeted, “The bird is freed,” in a reference to his wish to see the corporation loosen its restrictions on what can be posted. Major changes Elon Musk’s acquisition of Twitter ushered in a wave of substantial policy changes on the platform. These changes ranged from the imposition of daily tweet limits, varying from 10,000 posts for verified users to 500 posts for new unverified users, to the requirement for users to log in or create an account to access user profiles and tweets, aimed at safeguarding user data. The platform also allowed publishers to charge users on a per-article basis, and content subscriptions became part of its revenue strategy, with X taking a 10 percent cut after the first year. Emphasising transparency, Musk open-sourced “literally everything”. But he also banned accounts linked to rival social media platforms. A significant restructuring of staff occurred, resulting in mass layoffs and leadership changes, including Linda Yaccarino becoming the CEO. X was merged with Musk’s firm, X Corp, and a move towards AI to combat manipulation of public opinion was initiated. Twitter also underwent a significant rebranding, emerging as X. This rebranding was accompanied by the unveiling of a new logo, replacing the iconic Twitter bird. The transition aimed to align the platform with Musk’s vision of creating a multifunctional “everything app” akin to WeChat. However, this transformation prompted mixed reactions and a flurry of memes from users, questioning the decision to replace the well-known bird logo. Navigating the future of Twitter (X) Musk’s future plans include transforming X into an “ultra-app” with video and voice calls, introducing a payments feature, and charging for two-factor authentication to enhance security. As Musk makes the push for Twitter/X to transform into an “everything app”, recent events suggest that the platform will soon assist companies with employment, emerging as a potential competitor to LinkedIn. This comes after Musk wrote on X, “People send me LinkedIn links sometimes, but the cringe level is so high that I just can't bring myself to use it, so I ask for the resume or bio to be emailed. We will make sure that the X competitor to LinkedIn is cool.” WATCH WION LIVE HERE

Flashback Friday: Looking at the evolution of Twitter – From Larry the bird to X  

In an effort to compete with business websites like LinkedIn, Billionaire Elon Musk-owned 'X' has added a new hiring tool, which allows&nbsp;verified businesses to post job listings on their profiles.&nbsp;

In response to a post on 'X', which asked&nbsp;if there's anything worse than LinkedIn, Musk wrote, “People send me LinkedIn links sometimes, but the cringe level is so high that I just can't bring myself to use it. So I ask for the resume or bio to be emailed. We will make sure that the X competitor to LinkedIn is cool.”

Musk also said in another comment that LinkedIn is the “most cringe platform on the internet."

The tweet quickly gathered a lot of attention, with people on social media responding&nbsp;right away. “The worst part is people just making stuff up,” one user remarked. According to the user, many people use titles on LinkedIn that are completely fictitious and unrelated to what they actually do for the firm.

Musk had hinted&nbsp;about launching the recruiting tool in May. When a user asked whether 'x' will offer dating services, Musk responded, “Interesting idea, maybe jobs too.”

The latest development seems like&nbsp;yet another step in the direction of the 'X' becoming the all-encompassing app that Elon Musk originally talked about.

According to a recent TechCrunch article, 'X'&nbsp;purchased a job-matching tech start-up called Laskie in May, marking the platform’s first acquisition since Musk purchased it. It is a great possibility&nbsp;that the platform’s ability to create and release the new functionality was aided by this acquisition.

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In an effort to compete with business websites like LinkedIn, Billionaire Elon Musk-owned 'X' has added a new hiring tool, which allows verified businesses to post job listings on their profiles.

In an effort to compete with business websites like LinkedIn, Billionaire Elon Musk-owned 'X' has added a new hiring tool, which allows verified businesses to post job listings on their profiles. In response to a post on 'X', which asked if there's anything worse than LinkedIn, Musk wrote, “People send me LinkedIn links sometimes, but the cringe level is so high that I just can't bring myself to use it. So I ask for the resume or bio to be emailed. We will make sure that the X competitor to LinkedIn is cool.” Musk also said in another comment that LinkedIn is the “most cringe platform on the internet." The tweet quickly gathered a lot of attention, with people on social media responding right away. “The worst part is people just making stuff up,” one user remarked. According to the user, many people use titles on LinkedIn that are completely fictitious and unrelated to what they actually do for the firm. Musk had hinted about launching the recruiting tool in May. When a user asked whether 'x' will offer dating services, Musk responded, “Interesting idea, maybe jobs too.” The latest development seems like yet another step in the direction of the 'X' becoming the all-encompassing app that Elon Musk originally talked about. According to a recent TechCrunch article, 'X' purchased a job-matching tech start-up called Laskie in May, marking the platform’s first acquisition since Musk purchased it. It is a great possibility that the platform’s ability to create and release the new functionality was aided by this acquisition. WATCH WION LIVE HERE

Elon Musk to facilitate hiring on X, saying: ‘LinkedIn cringe level is so high’

Indian Prime Minister Narendra Modi on Sunday said&nbsp;that Chandrayaan-3 was ISRO’s most significant achievement and added that MSMEs and private enterprises too&nbsp;contributed&nbsp;to the expedition.

“ISRO played an important role but along with it, the Indian industry, MSMEs and private companies also contributed to this mission. This is a success of both science and industry,” Mint quoted the Indian prime minister&nbsp;as saying during B20 summit in Delhi.

He emphasised how Medium, Small and Micro Enterprises (MSMEs), private companies, and indigenous industries helped&nbsp;in producing&nbsp;equipment to meet the requirements of the Chandrayaan-3 mission.&nbsp;

“The long festival season in India has been brought forward this year. This year, the celebration has started early, from 23rd August. We are celebrating the success of our maiden lunar landing mission — Chandrayaan-3,” PM Modi added.

PM Modi’s faith in India’s future

Believing that India has the solution to every problem, PM Modi said that India has&nbsp;a big part to play in creating a trustworthy and efficient global supply chain. The Indian prime minister recalled how India became the “pharmacy of the world” during the “once-in-a-century pandemic” -- Covid-19 -- by delivering vaccines beyond its borders.

He also advocated for sustainable business practices, stressing that enterprises should realise&nbsp;sustainability as&nbsp;an economic opportunity.

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Indian Prime Minister Narendra Modi on Sunday said that Chandrayaan-3 was ISRO’s most significant achievement and added that MSMEs and private enterprises too contributed to the expedition.

Indian Prime Minister Narendra Modi on Sunday said that Chandrayaan-3 was ISRO’s most significant achievement and added that MSMEs and private enterprises too contributed to the expedition. “ISRO played an important role but along with it, the Indian industry, MSMEs and private companies also contributed to this mission. This is a success of both science and industry,” Mint quoted the Indian prime minister as saying during B20 summit in Delhi. He emphasised how Medium, Small and Micro Enterprises (MSMEs), private companies, and indigenous industries helped in producing equipment to meet the requirements of the Chandrayaan-3 mission. “The long festival season in India has been brought forward this year. This year, the celebration has started early, from 23rd August. We are celebrating the success of our maiden lunar landing mission — Chandrayaan-3,” PM Modi added. PM Modi’s faith in India’s future Believing that India has the solution to every problem, PM Modi said that India has a big part to play in creating a trustworthy and efficient global supply chain. The Indian prime minister recalled how India became the “pharmacy of the world” during the “once-in-a-century pandemic” -- Covid-19 -- by delivering vaccines beyond its borders. He also advocated for sustainable business practices, stressing that enterprises should realise sustainability as an economic opportunity. WATCH WION LIVE HERE

B20 Summit 2023: PM Modi lauds MSMEs, private firms for contributing to Chandrayaan-3 mission

The government of India has received an enthusiastic response from international companies for the Production Linked Incentive (PLI) Scheme for hardware, including Lenovo, HP, Dell and Acer, The Economic Times quoted Union Minster of Information Technology, Ashwini Vaishnaw as saying on Wednesday.&nbsp;

Up to 32 companies have submitted their proposals to the government.

“Excellent response received for the production of laptops and PCs under the hardware Production Linked Incentive Scheme (PLI) scheme. We have met almost all the 32 companies who applied and the portal will be closing tonight. Companies that will be manufacturing laptops include HP India, Dell, Acer, Lenovo, Thomson and others,” The Economic Times quoted Vaishanaw as saying in a media briefing.

Despite this, US tech giant Apple has not expressed interest in the PLI program yet.

The IT Minister emphasised that under the PLI hardware plan, there will be a special emphasis on laptops built in India, as well as consideration for tablets, AiO PC servers, and ultra-small form factor devices.

According to the minister, the planned incremental investment under the plan is Rs 2,430 crore ($239 million), while the expected incremental production is estimated to be Rs 3.35 lakh crore ($40 billion). 75,000 additional direct jobs are anticipated.

At the media briefing, Vaishnaw said that India is presently emerging as a trusted supply chain partner and value-added partner and that companies are keen to carry out manufacturing and design in India.

Vaishnaw added that the government is optimistic about hardware exports having the same level of success as exports of smartphones.

“The government is working on multiple ways to improve electronics manufacturing in the country,”&nbsp;&nbsp;he said.

He added that Dixon’s Noida factory would shortly begin producing.

On May 29, 2023, the Production Linked Incentive (PLI) Scheme 2.0 for IT Hardware was announced, with a budget of Rs 17,000 crore ($20 million). On May 17, the Union Cabinet, which is presided over by Prime Minister Narendra Modi, approved the introduction of the program.

The program aims to develop and broaden the nation's ecosystem for making IT gear.

By encouraging the localisation of components and sub-assemblies and allowing for a longer period of time to establish the supply chain within the nation, the PLI Scheme 2.0 for IT Hardware is anticipated to lead to the broadening and deepening of the manufacturing ecosystem.

The government launched Production Linked Incentive (PLI) schemes in a variety of industries as part of its Atmanirbhar and Make in India plan to increase exports, improve export competitiveness, attract investments, and lessen reliance on imports.

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The government of India has received an enthusiastic response from international companies for the Production Linked Incentive (PLI) Scheme for hardware, including Lenovo, HP, Dell and Acer, The Economic Times quoted Union Minster of Information Technology, Ashwini Vaishnaw as saying on Wednesday.

The government of India has received an enthusiastic response from international companies for the Production Linked Incentive (PLI) Scheme for hardware, including Lenovo, HP, Dell and Acer, The Economic Times quoted Union Minster of Information Technology, Ashwini Vaishnaw as saying on Wednesday. Up to 32 companies have submitted their proposals to the government. “Excellent response received for the production of laptops and PCs under the hardware Production Linked Incentive Scheme (PLI) scheme. We have met almost all the 32 companies who applied and the portal will be closing tonight. Companies that will be manufacturing laptops include HP India, Dell, Acer, Lenovo, Thomson and others,” The Economic Times quoted Vaishanaw as saying in a media briefing. Despite this, US tech giant Apple has not expressed interest in the PLI program yet. The IT Minister emphasised that under the PLI hardware plan, there will be a special emphasis on laptops built in India, as well as consideration for tablets, AiO PC servers, and ultra-small form factor devices. According to the minister, the planned incremental investment under the plan is Rs 2,430 crore ($239 million), while the expected incremental production is estimated to be Rs 3.35 lakh crore ($40 billion). 75,000 additional direct jobs are anticipated. At the media briefing, Vaishnaw said that India is presently emerging as a trusted supply chain partner and value-added partner and that companies are keen to carry out manufacturing and design in India. Vaishnaw added that the government is optimistic about hardware exports having the same level of success as exports of smartphones. “The government is working on multiple ways to improve electronics manufacturing in the country,” he said. He added that Dixon’s Noida factory would shortly begin producing. On May 29, 2023, the Production Linked Incentive (PLI) Scheme 2.0 for IT Hardware was announced, with a budget of Rs 17,000 crore ($20 million). On May 17, the Union Cabinet, which is presided over by Prime Minister Narendra Modi, approved the introduction of the program. The program aims to develop and broaden the nation's ecosystem for making IT gear. By encouraging the localisation of components and sub-assemblies and allowing for a longer period of time to establish the supply chain within the nation, the PLI Scheme 2.0 for IT Hardware is anticipated to lead to the broadening and deepening of the manufacturing ecosystem. The government launched Production Linked Incentive (PLI) schemes in a variety of industries as part of its Atmanirbhar and Make in India plan to increase exports, improve export competitiveness, attract investments, and lessen reliance on imports. WATCH WION LIVE HERE

Excellent response for hardware PLI scheme: India’s IT Minister Ashwini Vaishnaw  

Author

Zee News Rajasthan

Editor

Shashwat Sankranti

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Rajasthan News in Hindi: In-depth coverage of Rajasthan Crime, Political News, Education, Rajasthan Weather Update and Latest Rajasthan News on Zee News Rajasthan.