The iShares MSCI Israel exchange-traded fund (ETF), the largest ETF with exposure to Israeli stocks, is experiencing substantial outflows as tensions between Israel and the Palestinian group Hamas escalate, raising concerns about a broader conflict. The $116.92 million fund is on track for its worst weekly performance in a month, with net outflows of $4.94 million, according to Lipper data.

Aniket Ullal, head of ETF data and analytics at CFRA, an investment research firm, told Reuters that the fund has more domestic exposure due to its holdings in Mizrahi and other financial services companies. Financials constitute over a third of the fund's holdings as of September 30, with tech shares representing the second-largest sector.

The iShares fund dipped 1.1 per cent to $49.4 on Thursday, reaching its lowest point since May 2020. It has recorded a nearly 9 per cent decline this week, as Israeli and global markets experienced a sell-off in response to Hamas sending fighters into Israel over the weekend, resulting in casualties on both sides.

Israel's retaliatory air and artillery strikes have caused more than 1,400 Palestinian casualties and the destruction of entire neighbourhoods in the Gaza Strip.

On the other hand, the net flows for the other two ETFs exposed to Israeli stocks, the ARK Israel Innovative Technology ETF and the BlueStar Israel Technology, have remained negligible so far this week.

According to Reuters, Steven Schoenfeld, CEO of MarketVector Indexes, the creator of the ITEQ ETF, expressed confidence in Israeli technology companies with global exposure, suggesting they are likely to outperform domestically oriented Israeli firms during this period of war and regional tensions.

(With inputs from Reuters)

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The iShares MSCI Israel exchange-traded fund (ETF), the largest ETF with exposure to Israeli stocks, is experiencing substantial outflows as tensions between Israel and the Palestinian group Hamas escalate, raising concerns about a broader conflict.

The iShares MSCI Israel exchange-traded fund (ETF), the largest ETF with exposure to Israeli stocks, is experiencing substantial outflows as tensions between Israel and the Palestinian group Hamas escalate, raising concerns about a broader conflict. The $116.92 million fund is on track for its worst weekly performance in a month, with net outflows of $4.94 million, according to Lipper data. Aniket Ullal, head of ETF data and analytics at CFRA, an investment research firm, told Reuters that the fund has more domestic exposure due to its holdings in Mizrahi and other financial services companies. Financials constitute over a third of the fund's holdings as of September 30, with tech shares representing the second-largest sector. The iShares fund dipped 1.1 per cent to $49.4 on Thursday, reaching its lowest point since May 2020. It has recorded a nearly 9 per cent decline this week, as Israeli and global markets experienced a sell-off in response to Hamas sending fighters into Israel over the weekend, resulting in casualties on both sides. Israel's retaliatory air and artillery strikes have caused more than 1,400 Palestinian casualties and the destruction of entire neighbourhoods in the Gaza Strip. On the other hand, the net flows for the other two ETFs exposed to Israeli stocks, the ARK Israel Innovative Technology ETF and the BlueStar Israel Technology, have remained negligible so far this week. According to Reuters, Steven Schoenfeld, CEO of MarketVector Indexes, the creator of the ITEQ ETF, expressed confidence in Israeli technology companies with global exposure, suggesting they are likely to outperform domestically oriented Israeli firms during this period of war and regional tensions. (With inputs from Reuters) WATCH WION LIVE HERE

Israel-Hamas War: Largest Israel ETF sees significant outflows

The Enforcement Directorate, the Indian financial crime agency, has accused Chinese smartphone manufacturer Vivo and its Indian affiliates of visa violations and money laundering. This revelation comes amid escalating tension between India and China regarding business activities, following India's imposition of stricter investment regulations and a ban on numerous Chinese apps after border clashes in 2020.

The accusations against Vivo and its employees were detailed in a court filing that was not made public. These accusations follow the recent arrest of a Vivo executive, Guangwen Kuang, in connection with a money laundering investigation that began in 2022, targeting India's second-largest smartphone company.

The Indian financial crime agency disclosed that at least 30 Chinese individuals entered India on business visas but worked for Vivo without disclosing their employer in their visa applications, violating Indian visa conditions. These individuals were found to have travelled to sensitive areas, such as Jammu and Kashmir and Ladakh, without the necessary permits.

Vivo, which holds a market share of 17 per cent, expressed concern over the executive's arrest and reaffirmed its commitment to legal compliance.

In the ongoing border dispute between India and China in the western Himalayas, both countries claim large areas of land controlled by the other. India restricts the entry and residence of foreigners in designated "protected" areas in Ladakh and parts of Jammu and Kashmir, requiring a permit in addition to a visa.

The Enforcement Directorate had previously raided 48 sites associated with Vivo and its affiliates in connection with the money laundering investigation. The agency accused the company of funnelling money to China through indirectly controlled firms to evade Indian taxes. The latest court filing revealed that Vivo had remitted 1.07 trillion rupees ($12.87 billion) outside India to trading companies controlled by its Chinese parent, using a "masking layer" to avoid government detection.

Despite showing no profits in statutory filings from 2014-15 to 2019-20 and not paying income taxes, the Enforcement Directorate pointed out that significant sums of money had been siphoned out of India. In July of the previous year, the agency had estimated that approximately 624.7 billion rupees ($7.5 billion) had been remitted, mainly to China.

(With inputs from Reuters)

The Enforcement Directorate, the Indian financial crime agency, has accused Chinese smartphone manufacturer Vivo and its Indian affiliates of visa violations and money laundering.

The Enforcement Directorate, the Indian financial crime agency, has accused Chinese smartphone manufacturer Vivo and its Indian affiliates of visa violations and money laundering. This revelation comes amid escalating tension between India and China regarding business activities, following India's imposition of stricter investment regulations and a ban on numerous Chinese apps after border clashes in 2020. The accusations against Vivo and its employees were detailed in a court filing that was not made public. These accusations follow the recent arrest of a Vivo executive, Guangwen Kuang, in connection with a money laundering investigation that began in 2022, targeting India's second-largest smartphone company. The Indian financial crime agency disclosed that at least 30 Chinese individuals entered India on business visas but worked for Vivo without disclosing their employer in their visa applications, violating Indian visa conditions. These individuals were found to have travelled to sensitive areas, such as Jammu and Kashmir and Ladakh, without the necessary permits. Vivo, which holds a market share of 17 per cent, expressed concern over the executive's arrest and reaffirmed its commitment to legal compliance. In the ongoing border dispute between India and China in the western Himalayas, both countries claim large areas of land controlled by the other. India restricts the entry and residence of foreigners in designated "protected" areas in Ladakh and parts of Jammu and Kashmir, requiring a permit in addition to a visa. The Enforcement Directorate had previously raided 48 sites associated with Vivo and its affiliates in connection with the money laundering investigation. The agency accused the company of funnelling money to China through indirectly controlled firms to evade Indian taxes. The latest court filing revealed that Vivo had remitted 1.07 trillion rupees ($12.87 billion) outside India to trading companies controlled by its Chinese parent, using a "masking layer" to avoid government detection. Despite showing no profits in statutory filings from 2014-15 to 2019-20 and not paying income taxes, the Enforcement Directorate pointed out that significant sums of money had been siphoned out of India. In July of the previous year, the agency had estimated that approximately 624.7 billion rupees ($7.5 billion) had been remitted, mainly to China. (With inputs from Reuters)

Indian probe agency accuses Vivo of visa violations, laundering $13 billion

India's retail inflation has seen a dip, reaching a three-month low in September, primarily due to softer vegetable prices. However, it still remains above the Reserve Bank of India's (RBI) target of 4 per cent, which the central bank has emphasised as crucial before considering a rate cut.

According to official data, the annual retail inflation, measured by the Consumer Price Index, registered at 5.02 per cent in September, down from the previous month's 6.83 per cent. This figure was also lower than the expectations of a Reuters poll, which had forecasted a rate of 5.50 per cent. In June, retail inflation had stood at 4.81 per cent.

Food inflation, a major contributor to the overall consumer price basket, recorded a notable decrease from 9.94 per cent in August to 6.56 per cent in September. These numbers were encouraging but remained above the upper tolerance band of 2 per cent-6 per cent set by the RBI.

Vegetable prices, which had been a significant driver of inflation in recent months, saw a substantial reduction, dropping to 3.39 per cent in September from 26.14 per cent in the previous month. Similarly, cereal inflation also eased from 11.85 per cent in August to 10.95 per cent in September.

"The central bank is unlikely to shift away from its hawkish rhetoric for as long as there remains a significant risk of a renewed pick-up in food prices," Reuters quoted Thamashi De Silva of Capital Economics as saying. She further noted that despite the drop in headline inflation, the threat of food inflation persisted due to India's dry monsoon season.

In response to rising prices, the Indian government increased the cooking gas subsidy for low-income households from 200 rupees per cylinder in August to 300 rupees in an effort to mitigate inflation.

Reuters cited Finance Minister Nirmala Sitharaman, who also voiced concerns about global and regional uncertainties, stating that they might keep inflationary pressures elevated in the coming months. She emphasized the government's pre-emptive measures to control food inflation and their potential to alleviate price pressures in the market.

Core inflation, which excludes volatile food and energy prices, was estimated at 4.5 per cent in September, a slight decrease from 4.6 per cent-4.9 per cent in August, as per two economists, though the Indian government does not officially release core inflation figures.

However, there are still concerns about rising oil prices, hovering above $85 a barrel, and the recent Israeli-Palestinian conflict, which could further impact energy prices and overall inflation.

Madan Sabnavis, an economist at the Bank of Baroda, told Reuters that the RBI would closely monitor the impact of the El Nino weather phenomenon on crop output in Asia and the evolving situation in the Middle East to make future decisions on interest rates.

Meanwhile, prices for some food items like pulses and spices continued to rise, posing a challenge for inflation control. The RBI is expected to maintain its repo rate unchanged until June 2024, Sabnavis predicted.

(Inputs from Reuters)

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India's retail inflation has seen a dip, reaching a three-month low in September, primarily due to softer vegetable prices. However, it still remains above the Reserve Bank of India's (RBI) target of 4 per cent, which the central bank has emphasised as crucial before considering a rate cut.

India's retail inflation has seen a dip, reaching a three-month low in September, primarily due to softer vegetable prices. However, it still remains above the Reserve Bank of India's (RBI) target of 4 per cent, which the central bank has emphasised as crucial before considering a rate cut. According to official data, the annual retail inflation, measured by the Consumer Price Index, registered at 5.02 per cent in September, down from the previous month's 6.83 per cent. This figure was also lower than the expectations of a Reuters poll, which had forecasted a rate of 5.50 per cent. In June, retail inflation had stood at 4.81 per cent. Food inflation, a major contributor to the overall consumer price basket, recorded a notable decrease from 9.94 per cent in August to 6.56 per cent in September. These numbers were encouraging but remained above the upper tolerance band of 2 per cent-6 per cent set by the RBI. Vegetable prices, which had been a significant driver of inflation in recent months, saw a substantial reduction, dropping to 3.39 per cent in September from 26.14 per cent in the previous month. Similarly, cereal inflation also eased from 11.85 per cent in August to 10.95 per cent in September. "The central bank is unlikely to shift away from its hawkish rhetoric for as long as there remains a significant risk of a renewed pick-up in food prices," Reuters quoted Thamashi De Silva of Capital Economics as saying. She further noted that despite the drop in headline inflation, the threat of food inflation persisted due to India's dry monsoon season. In response to rising prices, the Indian government increased the cooking gas subsidy for low-income households from 200 rupees per cylinder in August to 300 rupees in an effort to mitigate inflation. Reuters cited Finance Minister Nirmala Sitharaman, who also voiced concerns about global and regional uncertainties, stating that they might keep inflationary pressures elevated in the coming months. She emphasized the government's pre-emptive measures to control food inflation and their potential to alleviate price pressures in the market. Core inflation, which excludes volatile food and energy prices, was estimated at 4.5 per cent in September, a slight decrease from 4.6 per cent-4.9 per cent in August, as per two economists, though the Indian government does not officially release core inflation figures. However, there are still concerns about rising oil prices, hovering above $85 a barrel, and the recent Israeli-Palestinian conflict, which could further impact energy prices and overall inflation. Madan Sabnavis, an economist at the Bank of Baroda, told Reuters that the RBI would closely monitor the impact of the El Nino weather phenomenon on crop output in Asia and the evolving situation in the Middle East to make future decisions on interest rates. Meanwhile, prices for some food items like pulses and spices continued to rise, posing a challenge for inflation control. The RBI is expected to maintain its repo rate unchanged until June 2024, Sabnavis predicted. (Inputs from Reuters) WATCH WION LIVE HERE

India's retail inflation drops to three-month low in September: Report

Byju Raveendran, the man behind the ed-tech giant Byju's, has experienced a whirlwind of success and setbacks. In April, he broke into tears as his company faced a high-profile raid, raising concerns about potential foreign exchange violations. This marked a sharp turn from the previous year when Raveendran's personal wealth had surged by 26 per cent, reaching a remarkable 30,600 crore rupees ($4.1 billion). However, the company's fortunes took a hit as investors lowered their valuations, and Raveendran's name vanished from the 2023 Hurun India rich list.&nbsp;

In this story, we look back at how Byju began and built up his company and to where it stands at present.&nbsp;

The beginnings and early success&nbsp;

In 2011, Byju Raveendran embarked on a journey that would eventually reshape the landscape of online education in India. Driven by his passion for teaching and a commitment to make learning more engaging and accessible, Raveendran founded Byju's. Using a unique approach that incorporated adaptive learning technology, he aimed to provide personalised learning experiences for students across the country.&nbsp;

Raveendran's innovative methods quickly garnered attention from both students and investors alike. The ability to tailor learning to individual needs struck a chord with learners, and it wasn't long before major investors like the Chan Zuckerberg Initiative and Sequoia Capital joined the bandwagon, transforming Byju's into a billion-dollar start-up. Its valuation skyrocketed, reflecting the high hopes and expectations for the future of online education in India.&nbsp;

Ups and downs&nbsp;

However, Byju's journey was far from smooth sailing. As the company expanded rapidly, it encountered corporate governance issues that began to erode its reputation. Allegations of unethical accounting practices, including inflating operational revenue, and mishandling of user data tarnished its image. Deloitte, the company's auditor, resigned, citing delayed financial statement submissions, while independent directors left the board. These issues resulted in defaults on loans and counter-lawsuits against creditors, exposing the pressing need for robust corporate governance.&nbsp;

Boost during the pandemic&nbsp;

The emergence of the COVID-19 pandemic brought a mixed bag of opportunities and challenges for Byju's. The sudden shift towards remote learning created a surge in demand for online education platforms. Byju's responded by introducing 'Live Classes' on its app, replicating the traditional classroom environment, and attracting millions of students. Aggressive acquisitions further solidified its position, with the $300 million WhiteHat Jr deal and fundraising campaigns during the pandemic bringing billions of dollars into the company's reserves.&nbsp;

Challenges&nbsp;

However, as the pandemic began to wane, Byju's faced unexpected challenges. The anticipated sustained demand for ed-tech solutions in India didn't materialise as expected. Factors such as cultural preferences for traditional classroom-based learning, the persistent digital divide, and limited access to high-speed internet posed roadblocks to the adoption of online learning. In 2021, Byju's reported a loss of $327 million, raising questions about its financial stability.&nbsp;

Cracks in the foundation&nbsp;

According to a report by The New Indian Express, while Byju's gained immense popularity, the company began to face severe criticism for its marketing strategies. These strategies preyed on parental fears about their children's academic future. The report mentioned that Filmmaker Hansal Mehta was among those who publicly condemned Byju's aggressive marketing, highlighting how salespeople attempted to convince his daughter that she was academically poor.&nbsp;

Additionally, a wave of disturbing allegations hit Byju's. These included the targeting of first-generation learners and the use of aggressive sales strategies. These tactics ranged from secret enrollment in loan programs to the registration of fictitious students, causing public outrage.&nbsp;

The downfall&nbsp;

The accumulating allegations, combined with the decreased demand for online learning and technical glitches, pushed Byju's into a crisis. The company's financial situation deteriorated, and investors began losing confidence. Byju's stock, once India's most valued start-up at $22 billion, saw its valuation plummet to $5.1 billion. Key investors, such as Prosus NV, significantly reduced their stake.&nbsp;

In a desperate bid to rescue the dream he had turned into a billion-dollar reality, Byju Raveendran initiated several strategic moves. He appointed a new auditor and sought new shareholders. However, these steps alone couldn't mend the fundamental issues plaguing the company's corporate governance and business model.&nbsp;

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Byju Raveendran, the man behind the ed-tech giant Byju's, has experienced a whirlwind of success and setbacks. In April, he broke into tears as his company faced a high-profile raid, raising concerns about potential foreign exchange violations.

Byju Raveendran, the man behind the ed-tech giant Byju's, has experienced a whirlwind of success and setbacks. In April, he broke into tears as his company faced a high-profile raid, raising concerns about potential foreign exchange violations. This marked a sharp turn from the previous year when Raveendran's personal wealth had surged by 26 per cent, reaching a remarkable 30,600 crore rupees ($4.1 billion). However, the company's fortunes took a hit as investors lowered their valuations, and Raveendran's name vanished from the 2023 Hurun India rich list. In this story, we look back at how Byju began and built up his company and to where it stands at present. The beginnings and early success In 2011, Byju Raveendran embarked on a journey that would eventually reshape the landscape of online education in India. Driven by his passion for teaching and a commitment to make learning more engaging and accessible, Raveendran founded Byju's. Using a unique approach that incorporated adaptive learning technology, he aimed to provide personalised learning experiences for students across the country. Raveendran's innovative methods quickly garnered attention from both students and investors alike. The ability to tailor learning to individual needs struck a chord with learners, and it wasn't long before major investors like the Chan Zuckerberg Initiative and Sequoia Capital joined the bandwagon, transforming Byju's into a billion-dollar start-up. Its valuation skyrocketed, reflecting the high hopes and expectations for the future of online education in India. Ups and downs However, Byju's journey was far from smooth sailing. As the company expanded rapidly, it encountered corporate governance issues that began to erode its reputation. Allegations of unethical accounting practices, including inflating operational revenue, and mishandling of user data tarnished its image. Deloitte, the company's auditor, resigned, citing delayed financial statement submissions, while independent directors left the board. These issues resulted in defaults on loans and counter-lawsuits against creditors, exposing the pressing need for robust corporate governance. Boost during the pandemic The emergence of the COVID-19 pandemic brought a mixed bag of opportunities and challenges for Byju's. The sudden shift towards remote learning created a surge in demand for online education platforms. Byju's responded by introducing 'Live Classes' on its app, replicating the traditional classroom environment, and attracting millions of students. Aggressive acquisitions further solidified its position, with the $300 million WhiteHat Jr deal and fundraising campaigns during the pandemic bringing billions of dollars into the company's reserves. Challenges However, as the pandemic began to wane, Byju's faced unexpected challenges. The anticipated sustained demand for ed-tech solutions in India didn't materialise as expected. Factors such as cultural preferences for traditional classroom-based learning, the persistent digital divide, and limited access to high-speed internet posed roadblocks to the adoption of online learning. In 2021, Byju's reported a loss of $327 million, raising questions about its financial stability. Cracks in the foundation According to a report by The New Indian Express, while Byju's gained immense popularity, the company began to face severe criticism for its marketing strategies. These strategies preyed on parental fears about their children's academic future. The report mentioned that Filmmaker Hansal Mehta was among those who publicly condemned Byju's aggressive marketing, highlighting how salespeople attempted to convince his daughter that she was academically poor. Additionally, a wave of disturbing allegations hit Byju's. These included the targeting of first-generation learners and the use of aggressive sales strategies. These tactics ranged from secret enrollment in loan programs to the registration of fictitious students, causing public outrage. The downfall The accumulating allegations, combined with the decreased demand for online learning and technical glitches, pushed Byju's into a crisis. The company's financial situation deteriorated, and investors began losing confidence. Byju's stock, once India's most valued start-up at $22 billion, saw its valuation plummet to $5.1 billion. Key investors, such as Prosus NV, significantly reduced their stake. In a desperate bid to rescue the dream he had turned into a billion-dollar reality, Byju Raveendran initiated several strategic moves. He appointed a new auditor and sought new shareholders. However, these steps alone couldn't mend the fundamental issues plaguing the company's corporate governance and business model. WATCH WION LIVE HERE

Flashback Friday: Tracing the rise and fall of ed-tech start-up, Byju’s

China's oil imports from countries under Western sanctions have inadvertently resulted in substantial savings for the nation, amounting to nearly $10 billion, according to calculations based on data from traders and shiptrackers, as reported by Reuters.&nbsp;

China's&nbsp;savings have arisen from purchases of oil from Russia, Iran, and Venezuela, all countries subjected to sanctions by the United States and other Western nations. These savings have inadvertently lowered the cost of oil imports for Chinese refiners.&nbsp;

This year, China has benefited from these lower-priced imports, boosting the country's oil throughput and refining margins. Notably, small independent operators known as "teapots" have been among the primary beneficiaries.&nbsp;

China's significant imports of oil from these sanctioned countries are also providing vital revenue streams for Moscow, Tehran, and Caracas, whose economies have been adversely affected by Western sanctions and a decrease in foreign investment.&nbsp;

During the first nine months of 2023, China imported a record 2.765 million barrels per day (bpd) of crude from Iran, Russia, and Venezuela. These three countries accounted for a quarter of China's oil imports during this period, significantly higher than in previous years.&nbsp;

The savings resulting from these imports have been particularly advantageous for independent refiners. Reuters quoted&nbsp;Kang Wu, global head of demand research at S&amp;P Global Commodity Insights, as saying that these refiners are "opportunistic buyers and actively look for bargains".&nbsp;&nbsp;&nbsp;

(With inputs from Reuters)&nbsp;

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China's oil imports from countries under Western sanctions have inadvertently resulted in substantial savings for the nation, amounting to nearly $10 billion, according to calculations based on data from traders and shiptrackers, as reported by Reuters.

China's oil imports from countries under Western sanctions have inadvertently resulted in substantial savings for the nation, amounting to nearly $10 billion, according to calculations based on data from traders and shiptrackers, as reported by Reuters. China's savings have arisen from purchases of oil from Russia, Iran, and Venezuela, all countries subjected to sanctions by the United States and other Western nations. These savings have inadvertently lowered the cost of oil imports for Chinese refiners. This year, China has benefited from these lower-priced imports, boosting the country's oil throughput and refining margins. Notably, small independent operators known as "teapots" have been among the primary beneficiaries. China's significant imports of oil from these sanctioned countries are also providing vital revenue streams for Moscow, Tehran, and Caracas, whose economies have been adversely affected by Western sanctions and a decrease in foreign investment. During the first nine months of 2023, China imported a record 2.765 million barrels per day (bpd) of crude from Iran, Russia, and Venezuela. These three countries accounted for a quarter of China's oil imports during this period, significantly higher than in previous years. The savings resulting from these imports have been particularly advantageous for independent refiners. Reuters quoted Kang Wu, global head of demand research at S&P Global Commodity Insights, as saying that these refiners are "opportunistic buyers and actively look for bargains". (With inputs from Reuters) WATCH WION LIVE HERE

China benefits from sanctioned oil imports, saves billions in fuel costs 

World Bank Chief Economist Indermit Gill has expressed concerns about the weakening global economy, highlighting the US and India as relative bright spots in the midst of global economic challenges. &nbsp;

According to a Moneycontrol report Gill noted, "The good news is that there are a few bright spots like the US and India." These comments were made during a press conference on October 11, held before the annual meeting of the World Bank Group and the International Monetary Fund (IMF) in Marrakesh, Morocco.&nbsp;

Gill's remarks came just days after the World Bank maintained its growth forecast for India at 6.3 percent for 2023-24, despite persistent global headwinds. The IMF had also recently raised its growth forecast for India's current financial year by 20 basis points to 6.3 percent. The Reserve Bank of India (RBI) had projected a GDP growth rate of 6.5 percent for 2023-24 and 2024-25.&nbsp;

High-interest rates, however, pose a significant challenge to global growth, according to Gill. Moneycontrol reported that he expressed concerns about the impact of high interest rates, explaining that growth was slowing down significantly. He further noted that the main issue was that growth was decelerating to levels considerably below those observed before the crisis.&nbsp;

Gill emphasised the potential impact of high interest rates by drawing parallels with the 1970s when the US Federal Reserve increased rates, leading to economic difficulties in multiple countries. He cautioned, "We should expect some countries to get into trouble now."&nbsp;

In the past 18 months, the US Federal Reserve has raised its key interest rate by 500 basis points to combat high inflation caused by global commodity price spikes following the Russia-Ukraine conflict. Gill suggested that while some countries may not have high debt levels now, they could still face issues as public debt crowds out private investment, hampering growth.&nbsp;

As per media reports, World Bank President Ajay Banga added that he anticipates interest rates to remain "higher for longer," which could further complicate global economic dynamics.&nbsp;

The discussion also touched upon the debt challenges faced by low-income and vulnerable middle-income countries, which have become more prominent in the wake of the COVID-19 pandemic. The Common Framework was introduced to help these nations restructure their debt, but progress has been relatively slow. &nbsp;

When asked if the framework needed replacement, President Banga emphasised the importance of well-thought-out strategies and the need to address the debt issues on a case-by-case basis. He stressed the significance of finding comprehensive solutions to prevent recurring debt crises in the future.&nbsp;

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World Bank Chief Economist Indermit Gill has expressed concerns about the weakening global economy, highlighting the US and India as relative bright spots in the midst of global economic challenges.

World Bank Chief Economist Indermit Gill has expressed concerns about the weakening global economy, highlighting the US and India as relative bright spots in the midst of global economic challenges. According to a Moneycontrol report Gill noted, "The good news is that there are a few bright spots like the US and India." These comments were made during a press conference on October 11, held before the annual meeting of the World Bank Group and the International Monetary Fund (IMF) in Marrakesh, Morocco. Gill's remarks came just days after the World Bank maintained its growth forecast for India at 6.3 percent for 2023-24, despite persistent global headwinds. The IMF had also recently raised its growth forecast for India's current financial year by 20 basis points to 6.3 percent. The Reserve Bank of India (RBI) had projected a GDP growth rate of 6.5 percent for 2023-24 and 2024-25. High-interest rates, however, pose a significant challenge to global growth, according to Gill. Moneycontrol reported that he expressed concerns about the impact of high interest rates, explaining that growth was slowing down significantly. He further noted that the main issue was that growth was decelerating to levels considerably below those observed before the crisis. Gill emphasised the potential impact of high interest rates by drawing parallels with the 1970s when the US Federal Reserve increased rates, leading to economic difficulties in multiple countries. He cautioned, "We should expect some countries to get into trouble now." In the past 18 months, the US Federal Reserve has raised its key interest rate by 500 basis points to combat high inflation caused by global commodity price spikes following the Russia-Ukraine conflict. Gill suggested that while some countries may not have high debt levels now, they could still face issues as public debt crowds out private investment, hampering growth. As per media reports, World Bank President Ajay Banga added that he anticipates interest rates to remain "higher for longer," which could further complicate global economic dynamics. The discussion also touched upon the debt challenges faced by low-income and vulnerable middle-income countries, which have become more prominent in the wake of the COVID-19 pandemic. The Common Framework was introduced to help these nations restructure their debt, but progress has been relatively slow. When asked if the framework needed replacement, President Banga emphasised the importance of well-thought-out strategies and the need to address the debt issues on a case-by-case basis. He stressed the significance of finding comprehensive solutions to prevent recurring debt crises in the future. WATCH WION LIVE HERE

World Bank chief economist highlights global economic concerns; US & India positive exceptions

India's unemployment rate for individuals aged 15 and above reached a six-year low of 3.2 per cent during the period from July 2022 to June 2023, The Press Trust of India (PTI) reported. This data was reported in the Periodic Labour Force Survey Annual Report 2022-2023 released by the National Sample Survey Office. The unemployment rate is defined as the percentage of unemployed persons in the labour force.

The Periodic Labour Force Survey (PLFS) was launched by the NSSO in April 2017 to provide more frequent labour force data. In the most recent data, the unemployment rate (UR) in usual status for persons aged 15 years and above at the all-India level decreased to 3.2 per cent in 2022-23 from 4.1 per cent in 2021-22. The UR was 4.2 per cent in 2020-21, 4.8 per cent in 2019-20, 5.8 per cent in 2018-19, and 6 per cent in 2017-18, according to the PLFS data.

The survey distinguishes usual status, which determines a person's employment status based on the reference period of 365 days preceding the survey date.

The data revealed a notable decline in unemployment rates in both rural and urban areas. In rural regions, UR decreased from 5.3 per cent in 2017-18 to 2.4 per cent in 2022-23, while in urban areas, it decreased from 7.7 per cent to 5.4 per cent. The UR for males in India decreased from 6.1 per cent in 2017-18 to 3.3 per cent in 2022-23, with a corresponding decrease for females from 5.6 per cent to 2.9 per cent.

The survey also showed a significant increase in the Labour Force Participation Rate (LFPR) in usual status for individuals aged 15 and above, rising to 57.9 per cent from 49.8 per cent in 2017-18. LFPR is defined as the percentage of persons in the labour force—those working, seeking work, or available for work—in the population.

For rural areas, LFPR increased from 50.7 per cent in 2017-18 to 60.8 per cent in 2022-23, while for urban areas, it increased from 47.6 per cent to 50.4 per cent. The LFPR for males in India increased from 75.8 per cent in 2017-18 to 78.5 per cent in 2022-23, with a corresponding increase for females from 23.3 per cent to 37.0 per cent.

The Worker Population Ratio (WPR) in usual status for persons aged 15 and above also increased to 56 per cent in 2022-23 from 46.8 per cent in 2017-18. WPR is defined as the percentage of employed persons in the population.

For rural areas, WPR increased from 48.1 per cent in 2017-18 to 59.4 per cent in 2022-23, while for urban areas, it increased from 43.9 per cent to 47.7 per cent. The WPR for males in India increased from 71.2 per cent in 2017-18 to 76.0 per cent in 2022-23, and the corresponding increase in WPR for females was from 22.0 per cent to 35.9 per cent.

The Periodic Labour Force Survey collects data on a yearly basis. The recent data is based on the survey conducted from July 2022 to June 2023.

However, the report noted that fieldwork for collecting information in some areas could not be completed due to "disturbed field situations and unavailability of internet services."

(Inputs from PTI)&nbsp;

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India's unemployment rate for individuals aged 15 and above reached a six-year low of 3.2 per cent during the period from July 2022 to June 2023, The Press Trust of India (PTI) reported.

India's unemployment rate for individuals aged 15 and above reached a six-year low of 3.2 per cent during the period from July 2022 to June 2023, The Press Trust of India (PTI) reported. This data was reported in the Periodic Labour Force Survey Annual Report 2022-2023 released by the National Sample Survey Office. The unemployment rate is defined as the percentage of unemployed persons in the labour force. The Periodic Labour Force Survey (PLFS) was launched by the NSSO in April 2017 to provide more frequent labour force data. In the most recent data, the unemployment rate (UR) in usual status for persons aged 15 years and above at the all-India level decreased to 3.2 per cent in 2022-23 from 4.1 per cent in 2021-22. The UR was 4.2 per cent in 2020-21, 4.8 per cent in 2019-20, 5.8 per cent in 2018-19, and 6 per cent in 2017-18, according to the PLFS data. The survey distinguishes usual status, which determines a person's employment status based on the reference period of 365 days preceding the survey date. The data revealed a notable decline in unemployment rates in both rural and urban areas. In rural regions, UR decreased from 5.3 per cent in 2017-18 to 2.4 per cent in 2022-23, while in urban areas, it decreased from 7.7 per cent to 5.4 per cent. The UR for males in India decreased from 6.1 per cent in 2017-18 to 3.3 per cent in 2022-23, with a corresponding decrease for females from 5.6 per cent to 2.9 per cent. The survey also showed a significant increase in the Labour Force Participation Rate (LFPR) in usual status for individuals aged 15 and above, rising to 57.9 per cent from 49.8 per cent in 2017-18. LFPR is defined as the percentage of persons in the labour force—those working, seeking work, or available for work—in the population. For rural areas, LFPR increased from 50.7 per cent in 2017-18 to 60.8 per cent in 2022-23, while for urban areas, it increased from 47.6 per cent to 50.4 per cent. The LFPR for males in India increased from 75.8 per cent in 2017-18 to 78.5 per cent in 2022-23, with a corresponding increase for females from 23.3 per cent to 37.0 per cent. The Worker Population Ratio (WPR) in usual status for persons aged 15 and above also increased to 56 per cent in 2022-23 from 46.8 per cent in 2017-18. WPR is defined as the percentage of employed persons in the population. For rural areas, WPR increased from 48.1 per cent in 2017-18 to 59.4 per cent in 2022-23, while for urban areas, it increased from 43.9 per cent to 47.7 per cent. The WPR for males in India increased from 71.2 per cent in 2017-18 to 76.0 per cent in 2022-23, and the corresponding increase in WPR for females was from 22.0 per cent to 35.9 per cent. The Periodic Labour Force Survey collects data on a yearly basis. The recent data is based on the survey conducted from July 2022 to June 2023. However, the report noted that fieldwork for collecting information in some areas could not be completed due to "disturbed field situations and unavailability of internet services." (Inputs from PTI) WATCH WION LIVE HERE

India's unemployment rate hits six-year low, rural areas witness significant improvements: Report  

Pranjali Awasthi, a 16-year-old prodigy from India, has secured an impressive $450,000 in funding for her AI startup,&nbsp;Delv.AI, according to a report by India Today.&nbsp;According to the report, she founded&nbsp;Delv.AI&nbsp;in January 2022. &nbsp;

Pranjali's journey into the tech world was inspired by her father, an engineer, who ignited her interest in computer science and coding when she was just seven years old.&nbsp;

Her passion for technology led to her internship at the research labs of Florida International University, where she delved into machine learning projects while continuing her regular schooling.&nbsp;

Pranjali's internship sparked the idea for Delv.AI, where she sought to harness AI to address real-world challenges. In 2021, she gained a place in an AI startup accelerator in Miami, led by tech enthusiasts Lucy Guo and Dave Fontenot from Backend Capital, in exchange for a stake in her future company. This accelerator provided the launchpad that attracted investments from notable names in the tech industry, such as On Deck and Village Global.&nbsp;

Delv.AI, with a team of up to 10 employees, focuses on leveraging AI to streamline data extraction processes and eliminate data silos. Pranjali's primary objective with Delv.AI is to assist researchers in efficiently accessing specific information amidst the ever-expanding online content landscape.&nbsp;

Pranjali's dedication to her growing company led her to temporarily step away from her high school education. With a recent funding injection of $450,000 and a current valuation of around $12 million, Delv.AI is poised for a promising future.&nbsp;

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Pranjali Awasthi, a 16-year-old prodigy from India, has secured an impressive $450,000 in funding for her AI startup, Delv.AI, according to a report by India Today.

Pranjali Awasthi, a 16-year-old prodigy from India, has secured an impressive $450,000 in funding for her AI startup, Delv.AI, according to a report by India Today. According to the report, she founded Delv.AI in January 2022. Pranjali's journey into the tech world was inspired by her father, an engineer, who ignited her interest in computer science and coding when she was just seven years old. Her passion for technology led to her internship at the research labs of Florida International University, where she delved into machine learning projects while continuing her regular schooling. Pranjali's internship sparked the idea for Delv.AI, where she sought to harness AI to address real-world challenges. In 2021, she gained a place in an AI startup accelerator in Miami, led by tech enthusiasts Lucy Guo and Dave Fontenot from Backend Capital, in exchange for a stake in her future company. This accelerator provided the launchpad that attracted investments from notable names in the tech industry, such as On Deck and Village Global. Delv.AI, with a team of up to 10 employees, focuses on leveraging AI to streamline data extraction processes and eliminate data silos. Pranjali's primary objective with Delv.AI is to assist researchers in efficiently accessing specific information amidst the ever-expanding online content landscape. Pranjali's dedication to her growing company led her to temporarily step away from her high school education. With a recent funding injection of $450,000 and a current valuation of around $12 million, Delv.AI is poised for a promising future. WATCH WION LIVE HERE

Teen entrepreneur Pranjali Awasthi's Delv.AI receives $450,000 funding 

The United Auto Workers (UAW) union brought Ford's largest global plant, the Kentucky truck plant, to a halt, disrupting the production of lucrative pickup trucks and large SUVs. This development marks a significant escalation in the UAW's four-week targeted strike against the Detroit Three automakers, as reported by Reuters.&nbsp;

The UAW initiated the strike after the union claimed that Ford, the second-largest U.S. automaker, refused to make further concessions in contract negotiations. While automakers have offered substantial wage increases, inflation-linked pay hikes, and better compensation for temporary workers, the union's demands persist, including higher wages, the elimination of a two-tier wage system, and extending union representation to battery plants across all three auto giants.&nbsp;

"We had to choose to do things differently this way," Reuters quoted UAW President Shawn Fain as saying. "If the companies aren't going to come to the table and take care of the membership's needs, then we will react," he added.&nbsp;

The Kentucky truck plant is a key area for Ford, generating approximately $25 billion in annual revenue, which constitutes about one-sixth of the company's global automotive revenue. This unexpected strike has the potential to impact Ford's full-year profits adversely. Ford's stock faced a 2 per cent drop in after-hours trading following the announcement.&nbsp;

The UAW requested a new offer from Ford during a meeting held on Wednesday evening, further escalating the tensions. According to a Ford official, the company did not have a new offer ready.&nbsp;

"You just lost Kentucky Truck," Fain told the Ford official during the meeting.&nbsp;

According to Reuters, Ford responded to the strike, describing it as "grossly irresponsible but unsurprising given the union leadership's stated strategy of keeping the Detroit Three wounded for months through 'reputational damage' and 'industrial chaos.'"&nbsp;

The UAW's decision to shut down the assembly lines that manufacture Ford Super Duty pickup trucks and Lincoln Navigator and Ford Expedition large SUVs, all of which are high-profit vehicles, may potentially undermine the automaker's profitability.&nbsp;

Fain indicated that the union was prepared to strike at the GM assembly plant in Arlington, Texas, which produces Cadillac Escalade and Chevy Suburban, among other high-priced SUVs. The strike is also a warning to Stellantis, the parent company of Chrysler, whose wage and benefits offers fall short of those offered by Ford.&nbsp;

As negotiations continue, the labour disruption may continue to disrupt production for the automakers and their suppliers, with thousands of workers potentially being furloughed. Reuters reported that the UAW's strategy is keeping the automakers off balance, and it could be "uncharted territory" for both sides, as labour professor Harley Shaiken from the University of California, Berkeley, commented.&nbsp;

Before this recent development, the UAW had refrained from additional strikes against Detroit Three auto plants, citing GM's willingness to allow workers at joint venture battery plants to be covered by union contracts.&nbsp;

As the Detroit automakers prepare to report their third-quarter financial results between October 24 and 31, the UAW may use their expected robust profits as leverage in negotiations for a more favourable contract.&nbsp;

Separately, Ford's battery joint venture with South Korea's SK On, BlueOval SK, announced that it would provide higher wages for some workers at its Tennessee and Kentucky plants, offering a range of $24 to $37.50 per hour based on experience.&nbsp;

(With inputs from Reuters)&nbsp;

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The United Auto Workers (UAW) union brought Ford's largest global plant, the Kentucky truck plant, to a halt, disrupting the production of lucrative pickup trucks and large SUVs.

The United Auto Workers (UAW) union brought Ford's largest global plant, the Kentucky truck plant, to a halt, disrupting the production of lucrative pickup trucks and large SUVs. This development marks a significant escalation in the UAW's four-week targeted strike against the Detroit Three automakers, as reported by Reuters. The UAW initiated the strike after the union claimed that Ford, the second-largest U.S. automaker, refused to make further concessions in contract negotiations. While automakers have offered substantial wage increases, inflation-linked pay hikes, and better compensation for temporary workers, the union's demands persist, including higher wages, the elimination of a two-tier wage system, and extending union representation to battery plants across all three auto giants. "We had to choose to do things differently this way," Reuters quoted UAW President Shawn Fain as saying. "If the companies aren't going to come to the table and take care of the membership's needs, then we will react," he added. The Kentucky truck plant is a key area for Ford, generating approximately $25 billion in annual revenue, which constitutes about one-sixth of the company's global automotive revenue. This unexpected strike has the potential to impact Ford's full-year profits adversely. Ford's stock faced a 2 per cent drop in after-hours trading following the announcement. The UAW requested a new offer from Ford during a meeting held on Wednesday evening, further escalating the tensions. According to a Ford official, the company did not have a new offer ready. "You just lost Kentucky Truck," Fain told the Ford official during the meeting. According to Reuters, Ford responded to the strike, describing it as "grossly irresponsible but unsurprising given the union leadership's stated strategy of keeping the Detroit Three wounded for months through 'reputational damage' and 'industrial chaos.'" The UAW's decision to shut down the assembly lines that manufacture Ford Super Duty pickup trucks and Lincoln Navigator and Ford Expedition large SUVs, all of which are high-profit vehicles, may potentially undermine the automaker's profitability. Fain indicated that the union was prepared to strike at the GM assembly plant in Arlington, Texas, which produces Cadillac Escalade and Chevy Suburban, among other high-priced SUVs. The strike is also a warning to Stellantis, the parent company of Chrysler, whose wage and benefits offers fall short of those offered by Ford. As negotiations continue, the labour disruption may continue to disrupt production for the automakers and their suppliers, with thousands of workers potentially being furloughed. Reuters reported that the UAW's strategy is keeping the automakers off balance, and it could be "uncharted territory" for both sides, as labour professor Harley Shaiken from the University of California, Berkeley, commented. Before this recent development, the UAW had refrained from additional strikes against Detroit Three auto plants, citing GM's willingness to allow workers at joint venture battery plants to be covered by union contracts. As the Detroit automakers prepare to report their third-quarter financial results between October 24 and 31, the UAW may use their expected robust profits as leverage in negotiations for a more favourable contract. Separately, Ford's battery joint venture with South Korea's SK On, BlueOval SK, announced that it would provide higher wages for some workers at its Tennessee and Kentucky plants, offering a range of $24 to $37.50 per hour based on experience. (With inputs from Reuters) WATCH WION LIVE HERE

UAW halts Ford's Kentucky truck plant in surprise move amid labour negotiations 

In the wake of the recent Hamas attack on Israel and the subsequent retaliatory airstrikes, the European Union has intensified its pressure on tech giants, insisting they remove illegal content from their platforms or face severe legal consequences.&nbsp;

Social media platforms have witnessed a surge in misleading information concerning the conflict, including manipulated images, misrepresented videos, and disturbing images of violence.

EU industry chief Thierry Breton has made a direct plea to tech moguls, emphasizing the need to combat disinformation and illegal content.&nbsp;

"Content circulating online that can be associated with Hamas qualifies as terrorist content, is illegal,&nbsp;and needs to be removed under both the DSA (Digital Services Act) and TCO (Terrorist Content Online) Regulation," Reuters quoted a Commission spokesperson.

The spokesperson added that the Commission would fully apply the DSA and closely monitor the complete implementation of the TCO, while urging online platforms to ensure full compliance with EU rules.

Thierry&nbsp;Breton's warnings to tech leaders have not gone unnoticed. &nbsp;

In a letter to Elon Musk, he underscored the misuse of Musk's messaging platform, X, for disseminating false information related to the Middle East conflict. Breton also issued a similar caution to Mark Zuckerberg, CEO of Meta, urging strict adherence to European law.&nbsp;

Breton further emphasised that these companies have a mere 24-hour window to demonstrate their commitment to eradicating harmful content on their platforms.&nbsp;

The European Commission has played a crucial role in enforcing these new regulations, ensuring that large online platforms, including X and Meta's Facebook, remove illegal content and implement measures to safeguard public security and civic discourse. &nbsp;

According to Breton, non-compliance could result in fines of up to 6 per cent of the company's global turnover, with the possibility of being banned from operating in Europe for repeat offenders.&nbsp;

As the EU intensifies its efforts to curb the spread of harmful content related to terrorist activities, it remains unclear whether similar messages have been conveyed to other social media companies falling under the ambit of the DSA.&nbsp;

(With inputs from Reuters)&nbsp;

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In the wake of the recent Hamas attack on Israel and the subsequent retaliatory airstrikes, the European Union has intensified its pressure on tech giants, insisting they remove illegal content from their platforms or face severe legal consequences.

In the wake of the recent Hamas attack on Israel and the subsequent retaliatory airstrikes, the European Union has intensified its pressure on tech giants, insisting they remove illegal content from their platforms or face severe legal consequences. Social media platforms have witnessed a surge in misleading information concerning the conflict, including manipulated images, misrepresented videos, and disturbing images of violence. EU industry chief Thierry Breton has made a direct plea to tech moguls, emphasizing the need to combat disinformation and illegal content. "Content circulating online that can be associated with Hamas qualifies as terrorist content, is illegal, and needs to be removed under both the DSA (Digital Services Act) and TCO (Terrorist Content Online) Regulation," Reuters quoted a Commission spokesperson. The spokesperson added that the Commission would fully apply the DSA and closely monitor the complete implementation of the TCO, while urging online platforms to ensure full compliance with EU rules. Thierry Breton's warnings to tech leaders have not gone unnoticed. In a letter to Elon Musk, he underscored the misuse of Musk's messaging platform, X, for disseminating false information related to the Middle East conflict. Breton also issued a similar caution to Mark Zuckerberg, CEO of Meta, urging strict adherence to European law. Breton further emphasised that these companies have a mere 24-hour window to demonstrate their commitment to eradicating harmful content on their platforms. The European Commission has played a crucial role in enforcing these new regulations, ensuring that large online platforms, including X and Meta's Facebook, remove illegal content and implement measures to safeguard public security and civic discourse. According to Breton, non-compliance could result in fines of up to 6 per cent of the company's global turnover, with the possibility of being banned from operating in Europe for repeat offenders. As the EU intensifies its efforts to curb the spread of harmful content related to terrorist activities, it remains unclear whether similar messages have been conveyed to other social media companies falling under the ambit of the DSA. (With inputs from Reuters) WATCH WION LIVE HERE

EU cracks down on big tech, urges action against terrorist content after Hamas attack 

Ukraine has been granted $1.15 billion from the United States under the PEACE in Ukraine program, marking a continued effort to support the country during the ongoing conflict with Russia. The Ukrainian finance ministry officially confirmed the substantial grant.&nbsp;

The PEACE (Public Expenditures for Administrative Capacity Endurance) in Ukraine project, a flagship initiative of the World Bank, has been pivotal in aiding Kyiv amid Russia's aggression in the region.

The United States government has displayed its unwavering commitment to Ukraine this year, granting Ukraine $10.9 billion in direct budget support in the form of grants.

This financial aid is primarily directed towards compensating state budget expenditures in the social and humanitarian sectors, with no intention of allocation to security or defence, as clarified by the ministry.&nbsp;

Emphasising&nbsp;the magnitude of the support, Finance Minister Serhiy Marchenko is quoted by Reuters&nbsp;as saying, "Since the beginning of the full-scale war, Ukraine's state budget has already received $22.9 billion from the United States."&nbsp;

Ukraine's reliance on foreign financing to bridge its budget gap and sustain social spending is evident. Simultaneously, Kyiv is actively seeking funding to rebuild vital infrastructure, schools, and hospitals, which have incurred significant damage over nearly 20 months of persistent conflict.&nbsp;

(With inputs from Reuters)&nbsp;

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Ukraine has been granted $1.15 billion from the United States under the PEACE in Ukraine program, marking a continued effort to support the country during the ongoing conflict with Russia.

Ukraine has been granted $1.15 billion from the United States under the PEACE in Ukraine program, marking a continued effort to support the country during the ongoing conflict with Russia. The Ukrainian finance ministry officially confirmed the substantial grant. The PEACE (Public Expenditures for Administrative Capacity Endurance) in Ukraine project, a flagship initiative of the World Bank, has been pivotal in aiding Kyiv amid Russia's aggression in the region. The United States government has displayed its unwavering commitment to Ukraine this year, granting Ukraine $10.9 billion in direct budget support in the form of grants. This financial aid is primarily directed towards compensating state budget expenditures in the social and humanitarian sectors, with no intention of allocation to security or defence, as clarified by the ministry. Emphasising the magnitude of the support, Finance Minister Serhiy Marchenko is quoted by Reuters as saying, "Since the beginning of the full-scale war, Ukraine's state budget has already received $22.9 billion from the United States." Ukraine's reliance on foreign financing to bridge its budget gap and sustain social spending is evident. Simultaneously, Kyiv is actively seeking funding to rebuild vital infrastructure, schools, and hospitals, which have incurred significant damage over nearly 20 months of persistent conflict. (With inputs from Reuters) WATCH WION LIVE HERE

Ukraine receives $1.15 billion under World Bank's PEACE initiative 

As the conflict between Israel and Hamas intensifies, Google CEO Sundar Pichai has reached out to reassure and provide updates to the company's employees in Israel. Pichai expressed deep concern about the distressing attacks on civilians in Israel and the heightened conflict that has ensued. The Times of India quoted an internal email, where he said, "I’m sure by now you’ve all seen the news of the terrible attacks on civilians in Israel, and the escalated conflict now underway."&nbsp;

Google, which maintains two offices in Israel and employs over 2,000 individuals in the region, has taken immediate steps to ensure the safety of its employees. In the email, as reported by The Times of India, Pichai emphasised that their foremost concern was the safety and well-being of all Google employees in the region. He also noted that they had identified other employees who were en route to that location.&nbsp;

Google's Global Security and Resilience Services (GSRS) team is actively involved in conducting safety checks to locate and safeguard every employee. Pichai mentioned that they had spent the day connecting with most of them, but he added that it would take some time to reach everyone.&nbsp;

The email was conveyed to all Google employees shortly after the Hamas attacks. The situation in Israel has prompted Google to take swift and decisive measures to protect its employees.&nbsp;

What are other companies doing?&nbsp;

The situation in Israel has prompted various companies with a substantial presence in the region to take similar actions to safeguard their employees and their families. &nbsp;

According to a report by Hindustan Times, Tata Consultancy Services (TCS) is closely monitoring the evolving situation and prioritising the well-being of its employees and their families in Israel. The report quoted an unnamed executive from TCS as saying, "We are monitoring the situation and have been in contact with HR officials there. We are actively assisting with their safety, including employees from India and their families."&nbsp;

In a parallel development, Gautam Adani's company, Adani Ports and SEZ Limited, which just purchased Israel's Haifa port, released a statement assuring stakeholders that their commercial operations will remain safe in the wake of the recent Hamas attack and the accompanying fighting. The corporation emphasised the significance of employee safety in such turbulent times by confirming that all of its employees are safe and accounted for.

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As the conflict between Israel and Hamas intensifies, Google CEO Sundar Pichai has reached out to reassure and provide updates to the company's employees in Israel.

As the conflict between Israel and Hamas intensifies, Google CEO Sundar Pichai has reached out to reassure and provide updates to the company's employees in Israel. Pichai expressed deep concern about the distressing attacks on civilians in Israel and the heightened conflict that has ensued. The Times of India quoted an internal email, where he said, "I’m sure by now you’ve all seen the news of the terrible attacks on civilians in Israel, and the escalated conflict now underway." Google, which maintains two offices in Israel and employs over 2,000 individuals in the region, has taken immediate steps to ensure the safety of its employees. In the email, as reported by The Times of India, Pichai emphasised that their foremost concern was the safety and well-being of all Google employees in the region. He also noted that they had identified other employees who were en route to that location. Google's Global Security and Resilience Services (GSRS) team is actively involved in conducting safety checks to locate and safeguard every employee. Pichai mentioned that they had spent the day connecting with most of them, but he added that it would take some time to reach everyone. The email was conveyed to all Google employees shortly after the Hamas attacks. The situation in Israel has prompted Google to take swift and decisive measures to protect its employees. What are other companies doing? The situation in Israel has prompted various companies with a substantial presence in the region to take similar actions to safeguard their employees and their families. According to a report by Hindustan Times, Tata Consultancy Services (TCS) is closely monitoring the evolving situation and prioritising the well-being of its employees and their families in Israel. The report quoted an unnamed executive from TCS as saying, "We are monitoring the situation and have been in contact with HR officials there. We are actively assisting with their safety, including employees from India and their families." In a parallel development, Gautam Adani's company, Adani Ports and SEZ Limited, which just purchased Israel's Haifa port, released a statement assuring stakeholders that their commercial operations will remain safe in the wake of the recent Hamas attack and the accompanying fighting. The corporation emphasised the significance of employee safety in such turbulent times by confirming that all of its employees are safe and accounted for. WATCH WION LIVE HERE

Google CEO Sundar Pichai addresses employees working in Israel amidst conflict 

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