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It's Flashback Friday, and this week we take a nostalgic journey back to June 29th, 2007 – a date etched in history as the day Apple unveiled a revolutionary device that would forever redefine the mobile phone industry: the iPhone.

Back then, Apple was primarily known for its sleek computers and the universal iPod music player.

But with the iPhone, they dared to challenge the status quo, presenting a phone unlike anything the world had ever seen – a phone that traded the familiar, albeit bulky, physical keyboard for a vast, multi-touch display.

A Pre-iPhone World: The age of clunky keyboards and limited options

Before the iPhone's arrival, the mobile phone landscape looked vastly different.

Dominated by established players like Nokia and Blackberry, phones offered basic functionalities like calling, texting, and a primitive internet experience, all navigated through the cumbersome interface of physical keyboards.

Blackberry, though a strong contender, offered features like email, but the overall user experience was far from intuitive, demanding patience and a certain dexterity to navigate its button-heavy design.

The iPhone Revolution: A touch of genius

The iPhone wasn't just a phone; it was a revolution meticulously crafted by Steve Jobs and his team.

Its core features were a revelation – a large, multi-touch display that responded fluidly to your fingertips, a user-friendly operating system that broke away from complexity, and the masterwork: the App Store.

This App Store, a novel concept at the time, opened a gateway to a universe of possibilities. Users could now download and install a vast array of applications, transforming the iPhone from a simple communication tool into a powerful pocket computer capable of handling an ever-expanding range of tasks – from navigation and social media to gaming and mobile productivity suites.

The impact was immediate and seismic. According to a CNBC report, the iPhone's influence drove Apple to sell a staggering 2 billion iPhones globally since its launch.

Competitors, caught flat-footed by Apple's innovation, were forced to play catch-up, scrambling to develop touchscreens and user interfaces that could even begin to rival the iPhone's intuitive design.

While some initial criticisms pointed out limitations like the lack of a copy-paste function, the iPhone's user-centric approach and sleek design quickly won over consumers, making it a coveted status symbol.

The iPhone's Legacy: A transformation beyond the phone

The iPhone's influence stretched far beyond the confines of the mobile phone industry. It revolutionised the way we interact with the internet.

Websites needed to adapt to a touch-based world, leading to a new era of web design optimised for the intuitive swiping and tapping gestures the iPhone pioneered.

Mobile photography, once limited to grainy, low-resolution images captured on flip phones, was catapulted into a new era with the iPhone's easy-to-use camera.

Suddenly, everyone had a powerful camera in their pocket, fostering a generation of social media-savvy photographers who documented their lives with a tap.

Perhaps most significantly, the iPhone fuelled the meteoric rise of app usage, social media platforms, and mobile entertainment.

This transformed how we communicate, access information, and consume leisure, fundamentally altering the social and cultural landscape.

A Legacy Still Unfolding: The enduring appeal of the iPhone

Today, Apple remains the undisputed leader in the smartphone market, a testament to the iPhone's enduring impact and influence. According to Business of Apps, iPhone sales account for a whopping 52 per cent of Apple's total revenue, generating a staggering $383.2 billion in 2023.

But the story doesn't end there.

With each new iteration, Apple continues to push the boundaries of technology, integrating features like facial recognition and advanced camera systems that boast professional-grade capabilities.

As we look back at the beginning of the iPhone's reign, a question lingers: what ground-breaking innovations will grace the next iPhone?

It's Flashback Friday, and this week we take a nostalgic journey back to June 29th, 2007 – a date etched in history as the day Apple unveiled a revolutionary device that would forever redefine the mobile phone industry: the iPhone.

It's Flashback Friday, and this week we take a nostalgic journey back to June 29th, 2007 – a date etched in history as the day Apple unveiled a revolutionary device that would forever redefine the mobile phone industry: the iPhone. Back then, Apple was primarily known for its sleek computers and the universal iPod music player. But with the iPhone, they dared to challenge the status quo, presenting a phone unlike anything the world had ever seen – a phone that traded the familiar, albeit bulky, physical keyboard for a vast, multi-touch display. A Pre-iPhone World: The age of clunky keyboards and limited options Before the iPhone's arrival, the mobile phone landscape looked vastly different. Dominated by established players like Nokia and Blackberry, phones offered basic functionalities like calling, texting, and a primitive internet experience, all navigated through the cumbersome interface of physical keyboards. Blackberry, though a strong contender, offered features like email, but the overall user experience was far from intuitive, demanding patience and a certain dexterity to navigate its button-heavy design. The iPhone Revolution: A touch of genius The iPhone wasn't just a phone; it was a revolution meticulously crafted by Steve Jobs and his team. Its core features were a revelation – a large, multi-touch display that responded fluidly to your fingertips, a user-friendly operating system that broke away from complexity, and the masterwork: the App Store. This App Store, a novel concept at the time, opened a gateway to a universe of possibilities. Users could now download and install a vast array of applications, transforming the iPhone from a simple communication tool into a powerful pocket computer capable of handling an ever-expanding range of tasks – from navigation and social media to gaming and mobile productivity suites. The impact was immediate and seismic. According to a CNBC report, the iPhone's influence drove Apple to sell a staggering 2 billion iPhones globally since its launch. Competitors, caught flat-footed by Apple's innovation, were forced to play catch-up, scrambling to develop touchscreens and user interfaces that could even begin to rival the iPhone's intuitive design. While some initial criticisms pointed out limitations like the lack of a copy-paste function, the iPhone's user-centric approach and sleek design quickly won over consumers, making it a coveted status symbol. The iPhone's Legacy: A transformation beyond the phone The iPhone's influence stretched far beyond the confines of the mobile phone industry. It revolutionised the way we interact with the internet. Websites needed to adapt to a touch-based world, leading to a new era of web design optimised for the intuitive swiping and tapping gestures the iPhone pioneered. Mobile photography, once limited to grainy, low-resolution images captured on flip phones, was catapulted into a new era with the iPhone's easy-to-use camera. Suddenly, everyone had a powerful camera in their pocket, fostering a generation of social media-savvy photographers who documented their lives with a tap. Perhaps most significantly, the iPhone fuelled the meteoric rise of app usage, social media platforms, and mobile entertainment. This transformed how we communicate, access information, and consume leisure, fundamentally altering the social and cultural landscape. A Legacy Still Unfolding: The enduring appeal of the iPhone Today, Apple remains the undisputed leader in the smartphone market, a testament to the iPhone's enduring impact and influence. According to Business of Apps, iPhone sales account for a whopping 52 per cent of Apple's total revenue, generating a staggering $383.2 billion in 2023. But the story doesn't end there. With each new iteration, Apple continues to push the boundaries of technology, integrating features like facial recognition and advanced camera systems that boast professional-grade capabilities. As we look back at the beginning of the iPhone's reign, a question lingers: what ground-breaking innovations will grace the next iPhone?

Flashback Friday | The Reign of the iPhone: A story of innovation and disruption

German sportswear giant Adidas revealed its first annual loss in more than three decades, citing challenges in the North American market and ongoing supply chain disruptions. <o:p></o:p>

The company's CEO, Bjorn Gulden, highlighted the persisting struggles in the US, foreseeing a further decline in sales for the region amidst inventory management issues plaguing sportswear retailers. <o:p></o:p>

The setback comes as Adidas grapples with the aftermath of severing ties with Kanye West in 2022, resulting in the suspension of sales for the lucrative Yeezy sneaker line.<o:p></o:p>

Since assuming leadership, CEO Bjorn Gulden has embarked on a strategic overhaul, focusing on reviving key product lines like the Samba and Gazelle shoes while fortifying relationships with retailers. <o:p></o:p>

Despite these efforts, Adidas anticipates a challenging year ahead, projecting a 5 per cent decline in sales for North America. <o:p></o:p>

The company reported a significant drop in fourth-quarter sales, with North American sales plummeting by 21 per cent, contributing to an overall 16 per cent decline for the fiscal year.<o:p></o:p>

The adverse impact of inventory management issues was palpable, prompting Adidas to implement measures to alleviate the situation. <o:p></o:p>

Through the clearance of stock via outlet stores, the company managed to reduce inventories by 1.5 billion euros in 2023, marking a notable 24 per cent decline. <o:p></o:p>

However, lingering challenges persist, exacerbated by shipment delays stemming from the Red Sea crisis. <o:p></o:p>

Chief Financial Officer Harm Ohlmeyer indicated potential implications on working capital should the disruptions persist, signalling further headwinds for the company.<o:p></o:p>

Despite the setbacks, Adidas remains optimistic about its prospects, banking on a resurgence in key markets such as China and anticipated growth in its underlying business, excluding the Yeezy line. <o:p></o:p>

The company expects a double-digit sales increase in China following an 8 per cent uptick in 2023. <o:p></o:p>

Additionally, Adidas aims to bolster its market position by capitalising on consumer trends favouring low-rise suede sneakers like the Samba and Gazelle, which have witnessed increased demand.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

German sportswear giant Adidas revealed its first annual loss in more than three decades, citing challenges in the North American market and ongoing supply chain disruptions.

German sportswear giant Adidas revealed its first annual loss in more than three decades, citing challenges in the North American market and ongoing supply chain disruptions. The company's CEO, Bjorn Gulden, highlighted the persisting struggles in the US, foreseeing a further decline in sales for the region amidst inventory management issues plaguing sportswear retailers. The setback comes as Adidas grapples with the aftermath of severing ties with Kanye West in 2022, resulting in the suspension of sales for the lucrative Yeezy sneaker line. Since assuming leadership, CEO Bjorn Gulden has embarked on a strategic overhaul, focusing on reviving key product lines like the Samba and Gazelle shoes while fortifying relationships with retailers. Despite these efforts, Adidas anticipates a challenging year ahead, projecting a 5 per cent decline in sales for North America. The company reported a significant drop in fourth-quarter sales, with North American sales plummeting by 21 per cent, contributing to an overall 16 per cent decline for the fiscal year. The adverse impact of inventory management issues was palpable, prompting Adidas to implement measures to alleviate the situation. Through the clearance of stock via outlet stores, the company managed to reduce inventories by 1.5 billion euros in 2023, marking a notable 24 per cent decline. However, lingering challenges persist, exacerbated by shipment delays stemming from the Red Sea crisis. Chief Financial Officer Harm Ohlmeyer indicated potential implications on working capital should the disruptions persist, signalling further headwinds for the company. Despite the setbacks, Adidas remains optimistic about its prospects, banking on a resurgence in key markets such as China and anticipated growth in its underlying business, excluding the Yeezy line. The company expects a double-digit sales increase in China following an 8 per cent uptick in 2023. Additionally, Adidas aims to bolster its market position by capitalising on consumer trends favouring low-rise suede sneakers like the Samba and Gazelle, which have witnessed increased demand. (With inputs from Reuters)

Adidas reports first annual loss in over 30 years amid North American sales warning

As our reliance on digital technology continues to grow, so does the importance of cybersecurity. It's no longer just about protecting data; it's about making sure the foundation of our interconnected world remains safe. Cyber threats are diverse and continually changing, requiring a variety of skills to effectively combat them. This means there is a need to better recognize the need for equally diverse perspectives in the task forces that battle these threats.

Over the course of my career, I have witnessed women peers bringing unique perspectives and problem-solving skills, especially when it comes to security. They can contribute significantly to creating a more thorough, adaptable and responsible cybersecurity strategy for individuals and organizations. However, despite the progress being made, there has been a historical lack of women in deeptech, making their inclusion in cybersecurity an important step toward a safer digital future.

The underrepresentation challenge

Taking a closer look at the cybersecurity industry shows a clear problem—a gender gap that persists despite progress in other professions. Statistics indicate that from 2018 to 2023, the number of women in cybersecurity jobs in India increased by over 10%. This was a growth from around 11% to 22% due to the efforts of initiatives like CyberShikshaa and corporate initiatives towards Inclusion and Diversity that brought in diverse workforce into the organizations. &nbsp;While this is an encouraging trend, there is still a huge gap to cover and there needs to be focused effort to bridge this gap both in academics and industry.

Navigating professional challenges

Despite the efforts made by organizations to promote gender equality, women continue to face challenges in the workplace ranging from workplace discrimination, lack of confidence and even imposter syndrome. Unconscious biases and gender stereotypes in the industry hinder the professional growth of women, highlighting the need for a change in organizational culture. It is important to create a supportive environment that empowers women to embrace their skills and build resilience.

Building a supportive network

Mentorship programs and networking communities are crucial for career development, especially for women in tech who may not see as many female role models. Additionally, encouraging a culture of support and collaboration within the industry ensures knowledge-sharing and skill development. These initiatives can not only bridge the gender gap but also create an environment where women feel empowered to thrive, guided by experienced mentors.

Promoting diversity and inclusivity

Advocating for workplace initiatives that promote equal opportunity is essential. Collaboration and diverse thinking are crucial in developing innovative and effective cybersecurity strategies, necessitating a diverse workforce. Activities like hackathons and coding quests can bring teams together and help women showcase their skills first-hand. Unbiased recruitment through anonymous skill-based hiring can also help bring more diversity into the organization. Strategies for skill development and recruitment, with a focus on fostering diversity, enrich the talent pool and contribute to building a more resilient cybersecurity workforce.

The way ahead

Empowering women in cybersecurity is a crucial journey for the industry. Recognizing the unique challenges women face, fostering a supportive network, and challenging gender norms pave the way for a more inclusive digital future.&nbsp;

As cybersecurity threats become more complex, embracing diverse perspectives is vital. The call to action is clear—organizations, industry leaders, and professionals must unite to build a cybersecurity landscape that thrives on diversity, ensuring a safer and more resilient digital world for all.

As our reliance on digital technology continues to grow, so does the importance of cybersecurity. It's no longer just about protecting data; it's about making sure the foundation of our interconnected world remains safe.

As our reliance on digital technology continues to grow, so does the importance of cybersecurity. It's no longer just about protecting data; it's about making sure the foundation of our interconnected world remains safe. Cyber threats are diverse and continually changing, requiring a variety of skills to effectively combat them. This means there is a need to better recognize the need for equally diverse perspectives in the task forces that battle these threats. Over the course of my career, I have witnessed women peers bringing unique perspectives and problem-solving skills, especially when it comes to security. They can contribute significantly to creating a more thorough, adaptable and responsible cybersecurity strategy for individuals and organizations. However, despite the progress being made, there has been a historical lack of women in deeptech, making their inclusion in cybersecurity an important step toward a safer digital future. The underrepresentation challenge Taking a closer look at the cybersecurity industry shows a clear problem—a gender gap that persists despite progress in other professions. Statistics indicate that from 2018 to 2023, the number of women in cybersecurity jobs in India increased by over 10%. This was a growth from around 11% to 22% due to the efforts of initiatives like CyberShikshaa and corporate initiatives towards Inclusion and Diversity that brought in diverse workforce into the organizations. While this is an encouraging trend, there is still a huge gap to cover and there needs to be focused effort to bridge this gap both in academics and industry. Navigating professional challenges Despite the efforts made by organizations to promote gender equality, women continue to face challenges in the workplace ranging from workplace discrimination, lack of confidence and even imposter syndrome. Unconscious biases and gender stereotypes in the industry hinder the professional growth of women, highlighting the need for a change in organizational culture. It is important to create a supportive environment that empowers women to embrace their skills and build resilience. Building a supportive network Mentorship programs and networking communities are crucial for career development, especially for women in tech who may not see as many female role models. Additionally, encouraging a culture of support and collaboration within the industry ensures knowledge-sharing and skill development. These initiatives can not only bridge the gender gap but also create an environment where women feel empowered to thrive, guided by experienced mentors. Promoting diversity and inclusivity Advocating for workplace initiatives that promote equal opportunity is essential. Collaboration and diverse thinking are crucial in developing innovative and effective cybersecurity strategies, necessitating a diverse workforce. Activities like hackathons and coding quests can bring teams together and help women showcase their skills first-hand. Unbiased recruitment through anonymous skill-based hiring can also help bring more diversity into the organization. Strategies for skill development and recruitment, with a focus on fostering diversity, enrich the talent pool and contribute to building a more resilient cybersecurity workforce. The way ahead Empowering women in cybersecurity is a crucial journey for the industry. Recognizing the unique challenges women face, fostering a supportive network, and challenging gender norms pave the way for a more inclusive digital future. As cybersecurity threats become more complex, embracing diverse perspectives is vital. The call to action is clear—organizations, industry leaders, and professionals must unite to build a cybersecurity landscape that thrives on diversity, ensuring a safer and more resilient digital world for all.

Expert voice | Empowering women in cybersecurity: Navigating challenges & breaking barriers

The Israeli parliament has approved&nbsp;an amended 2024 state budget, allocating funds towards sustaining Israel's military campaign against Hamas in Gaza. This decision comes as the conflict with the Islamist Palestinian group extends into its sixth month.<o:p></o:p>

The approved budget, totalling 584 billion shekels ($160 billion), signifies a substantial increase in defence spending and provisions for compensating households and businesses impacted by the conflict. <o:p></o:p>

Finance Minister Bezalel Smotrich highlighted the objectives of the amended budget, emphasising its focus on securing victory in the war, bolstering reservist support, fortifying the home front, and fostering economic resilience amid challenging circumstances.<o:p></o:p>

A crucial aspect of the amended budget entails a deficit revision, with the 2024 deficit projected to reach 6.6 per cent of gross domestic product (GDP), up from a pre-war level of 2.25 per cent. <o:p></o:p>

The heightened deficit reflects the need to finance military operations and address the multifaceted repercussions of sustained conflict. <o:p></o:p>

Despite the fiscal strain, the budget also allocates increased funding for essential sectors such as health, education, police, and welfare.<o:p></o:p>

The budgetary adjustments are an indication of the profound impact of the Gaza war on Israel's fiscal framework, necessitating swift modifications and augmented spending commitments. <o:p></o:p>

An infusion of 70 billion shekels, including heavy allocations for military and civilian needs, indicates the government's need to address immediate security imperatives and societal exigencies aggravated by the prolonged conflict. <o:p></o:p>

However, the budget approval process has not been devoid of political contention, particularly concerning allocations to religious institutions agreed upon under previous coalition agreements. <o:p></o:p>

Opposition figures, including leader Yair Lapid, have criticised the budget as "sectarian" and "irresponsible," lamenting what they perceive as a neglect of ordinary citizens' interests in favour of political expediency. <o:p></o:p>

Nonetheless, the coalition government has pressed forward with its budgetary agenda, aiming to navigate the complex economic and political landscape.<o:p></o:p>

The budget's passage comes against the backdrop of heightened fiscal scrutiny, with credit rating agency Moody's downgrading Israel's credit rating to A2 last month. <o:p></o:p>

Moody's cited significant political and fiscal risks stemming from the prolonged conflict as pivotal factors contributing to the downgrade, highlighting the unprecedented challenges confronting Israel's economic stability in the wake of sustained hostilities. <o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

The Israeli parliament has approved an amended 2024 state budget, allocating funds towards sustaining Israel's military campaign against Hamas in Gaza. This decision comes as the conflict with the Islamist Palestinian group extends into its sixth month.

The Israeli parliament has approved an amended 2024 state budget, allocating funds towards sustaining Israel's military campaign against Hamas in Gaza. This decision comes as the conflict with the Islamist Palestinian group extends into its sixth month. The approved budget, totalling 584 billion shekels ($160 billion), signifies a substantial increase in defence spending and provisions for compensating households and businesses impacted by the conflict. Finance Minister Bezalel Smotrich highlighted the objectives of the amended budget, emphasising its focus on securing victory in the war, bolstering reservist support, fortifying the home front, and fostering economic resilience amid challenging circumstances. A crucial aspect of the amended budget entails a deficit revision, with the 2024 deficit projected to reach 6.6 per cent of gross domestic product (GDP), up from a pre-war level of 2.25 per cent. The heightened deficit reflects the need to finance military operations and address the multifaceted repercussions of sustained conflict. Despite the fiscal strain, the budget also allocates increased funding for essential sectors such as health, education, police, and welfare. The budgetary adjustments are an indication of the profound impact of the Gaza war on Israel's fiscal framework, necessitating swift modifications and augmented spending commitments. An infusion of 70 billion shekels, including heavy allocations for military and civilian needs, indicates the government's need to address immediate security imperatives and societal exigencies aggravated by the prolonged conflict. However, the budget approval process has not been devoid of political contention, particularly concerning allocations to religious institutions agreed upon under previous coalition agreements. Opposition figures, including leader Yair Lapid, have criticised the budget as "sectarian" and "irresponsible," lamenting what they perceive as a neglect of ordinary citizens' interests in favour of political expediency. Nonetheless, the coalition government has pressed forward with its budgetary agenda, aiming to navigate the complex economic and political landscape. The budget's passage comes against the backdrop of heightened fiscal scrutiny, with credit rating agency Moody's downgrading Israel's credit rating to A2 last month. Moody's cited significant political and fiscal risks stemming from the prolonged conflict as pivotal factors contributing to the downgrade, highlighting the unprecedented challenges confronting Israel's economic stability in the wake of sustained hostilities. (With inputs from Reuters)

Israeli parliament approves amended 2024 budget, prioritising funding for Gaza war

The call for diversity and inclusion in the corporate landscape has been echoing louder than ever before. We see many organisations acknowledging the critical importance of not only including women in the workforce but also fostering a strong female representation in leadership. Companies, today, are directing their attention towards a strategic overhaul of employee engagement to better accommodate women and encourage their growth.

The technology sector in India has seen a continuous increase in the contribution of women. Today, 43% of STEM course enrollees are women, &nbsp;among the the highest in the world. However, we still see a discrepancy in the job market, as only 14% of the tech leadership roles in the country are held by women. To bridge this gap, organisations must take conscious steps towards inclusive hiring and policies that will improve gender diversity ratios within the company.&nbsp;

Reimagining leadership paradigms

To nurture women leaders, a crucial stride is redefining existing leadership frameworks. This means acknowledging inclusivity as an integral part of leadership competencies and initiatives. It's important to transition from conventional to inclusive leadership styles, recognising and leveraging the unique strengths that women bring to the forefront.

Empowering mentorship, training, and sponsorship initiatives

Crafting and implementing tailor-made mentorship and sponsorship programs specifically for women's leadership development plays a vital role. To better boost our women towards leadership, we must first understand their foundation, challenges, strengths, and needs. Creating a supportive network where aspiring women leaders can seek guidance and sponsorship is indispensable. It's not merely about mentorship; it's about cultivating a community that champions the success of its members.

At the same time, customised leadership training programs play a crucial role in arming women with the skills essential for leadership roles. Addressing gender bias within training initiatives ensures that development opportunities are universally accessible, and equitable and helps foster an environment where talent stands as the sole criterion for progress.

Embracing flexibility

Acknowledging and embracing flexibility becomes paramount when it comes to empowering women. Initiatives promoting work-life balance, including flexible work arrangements and a results-oriented culture, all contribute to creating an environment where women can flourish both personally and professionally. Inclusive policies, such as maternity and paternity leave, also showcase an organisation's commitment to supporting caregivers, levelling the playing field for all.

Strategic communication approaches

Transparent communication stands as another cornerstone of a successful organisational transformation. Clearly articulating diversity goals and fostering an open dialogue on gender equality contribute to a culture where every voice feels heard and valued. It is also important for leaders to set the tone for a company’s commitment to equality. In doing so, they create a supportive environment where all employees feel valued, empowered, and motivated. It's not solely about policies; it's about instigating a mindset shift within the organisation.

Quantifying impact

Establishing key performance indicators (KPIs) becomes imperative for monitoring the impact of our initiatives. Regular audits and feedback mechanisms allow us to proactively adjust based on real-time insights. This adaptive approach ensures our strategies remain agile and responsive to the evolving needs of our workforce. 
&nbsp; 
The way forward

As we reshape the organisational landscape through consistent efforts, let us recognise that the journey is as consequential as the destination. Our commitment to nurturing women leaders is an ongoing mission, marked by an iterative approach to employee engagement and continuous improvements based on feedback. Adapting to the ever-changing dynamics of the workforce ensures our strategies stay pertinent and effective.

 
By embracing inclusivity, flexibility, and agile strategies, we pave the way for a future where women leaders thrive, and our organisations and industries flourish. Together, we can create a workplace where diversity is not just a buzzword but a lived reality, affording every individual the opportunity to realise their full potential.

The call for diversity and inclusion in the corporate landscape has been echoing louder than ever before. We see many organisations acknowledging the critical importance of not only including women in the workforce but also fostering a strong female representation in leadership.

The call for diversity and inclusion in the corporate landscape has been echoing louder than ever before. We see many organisations acknowledging the critical importance of not only including women in the workforce but also fostering a strong female representation in leadership. Companies, today, are directing their attention towards a strategic overhaul of employee engagement to better accommodate women and encourage their growth. The technology sector in India has seen a continuous increase in the contribution of women. Today, 43% of STEM course enrollees are women, among the the highest in the world. However, we still see a discrepancy in the job market, as only 14% of the tech leadership roles in the country are held by women. To bridge this gap, organisations must take conscious steps towards inclusive hiring and policies that will improve gender diversity ratios within the company. Reimagining leadership paradigms To nurture women leaders, a crucial stride is redefining existing leadership frameworks. This means acknowledging inclusivity as an integral part of leadership competencies and initiatives. It's important to transition from conventional to inclusive leadership styles, recognising and leveraging the unique strengths that women bring to the forefront. Empowering mentorship, training, and sponsorship initiatives Crafting and implementing tailor-made mentorship and sponsorship programs specifically for women's leadership development plays a vital role. To better boost our women towards leadership, we must first understand their foundation, challenges, strengths, and needs. Creating a supportive network where aspiring women leaders can seek guidance and sponsorship is indispensable. It's not merely about mentorship; it's about cultivating a community that champions the success of its members. At the same time, customised leadership training programs play a crucial role in arming women with the skills essential for leadership roles. Addressing gender bias within training initiatives ensures that development opportunities are universally accessible, and equitable and helps foster an environment where talent stands as the sole criterion for progress. Embracing flexibility Acknowledging and embracing flexibility becomes paramount when it comes to empowering women. Initiatives promoting work-life balance, including flexible work arrangements and a results-oriented culture, all contribute to creating an environment where women can flourish both personally and professionally. Inclusive policies, such as maternity and paternity leave, also showcase an organisation's commitment to supporting caregivers, levelling the playing field for all. Strategic communication approaches Transparent communication stands as another cornerstone of a successful organisational transformation. Clearly articulating diversity goals and fostering an open dialogue on gender equality contribute to a culture where every voice feels heard and valued. It is also important for leaders to set the tone for a company’s commitment to equality. In doing so, they create a supportive environment where all employees feel valued, empowered, and motivated. It's not solely about policies; it's about instigating a mindset shift within the organisation. Quantifying impact Establishing key performance indicators (KPIs) becomes imperative for monitoring the impact of our initiatives. Regular audits and feedback mechanisms allow us to proactively adjust based on real-time insights. This adaptive approach ensures our strategies remain agile and responsive to the evolving needs of our workforce. The way forward As we reshape the organisational landscape through consistent efforts, let us recognise that the journey is as consequential as the destination. Our commitment to nurturing women leaders is an ongoing mission, marked by an iterative approach to employee engagement and continuous improvements based on feedback. Adapting to the ever-changing dynamics of the workforce ensures our strategies stay pertinent and effective. By embracing inclusivity, flexibility, and agile strategies, we pave the way for a future where women leaders thrive, and our organisations and industries flourish. Together, we can create a workplace where diversity is not just a buzzword but a lived reality, affording every individual the opportunity to realise their full potential.

Expert voice | Fostering women leaders: A holistic approach to employee engagement restructuring

Echoing the vibrancy of India's economic boom during the mid-2000s, a recent report by Morgan Stanley highlights striking parallels between then and now, attributing the current surge to a strong investment trajectory. <o:p></o:p>

Economists at Morgan Stanley highlight the resemblance between India's current growth cycle and the period from 2003 to 2007, characterised by an investment-driven expansion that propelled the economy to impressive heights.<o:p></o:p>

The report indicates the vital role of investment as a primary driver of India's economic resurgence, mirroring the trajectory witnessed during the mid-2000s. <o:p></o:p>

Notably, India's gross fixed capital formation has surged, signalling a sustained upswing in investment activity after a decade-long decline. <o:p></o:p>

The investment ratio, which plummeted to 28 per cent in 2021, is projected to climb to 36 per cent by 2027, indicating the buoyancy of India's economic landscape.<o:p></o:p>

According to Bloomberg, Morgan Stanley economists project a promising trajectory for India's investment cycle, brought by the prospects of robust capital expenditure, burgeoning exports, and enhanced macroeconomic stability. <o:p></o:p>

Despite concerns about sustainability, the report posits that India's current growth trajectory exhibits resilience, with ample scope for further expansion driven by private sector participation and rising exports. <o:p></o:p>

India's status as the world's fastest-growing major economy is strengthened by its investment-led growth narrative, as highlighted by top economic advisers. <o:p></o:p>

Anticipating sustained capital formation, economists foresee India's economy expanding by over 7 per cent in the fiscal year commencing in April, fostering optimism amidst evolving global economic dynamics.<o:p></o:p>

The surge in investment activity has not only bolstered economic fundamentals but has also catalysed significant market movements. <o:p></o:p>

Key indices such as the S&amp;P BSE Industrials Index have witnessed substantial gains, reflecting investor confidence in India's burgeoning industrial landscape.<o:p></o:p>

Amidst growing investor optimism, the collective market value of industrial players has surged, signalling robust growth prospects in key sectors.<o:p></o:p>

While India's current economic trajectory bears semblance to the resplendent growth witnessed in the mid-2000s, analysts have also issued caution against potential impediments that could impede the growth momentum. <o:p></o:p>

Labour shortages and logistical bottlenecks pose challenges to sustaining the growth cycle, warranting proactive measures to address emerging constraints. <o:p></o:p>

Nonetheless, Morgan Stanley remains optimistic about India's macroeconomic outlook, citing the enduring resilience of the investment-driven growth model.<o:p></o:p>

(With inputs from Bloomberg)<o:p></o:p>

Echoing the vibrancy of India's economic boom during the mid-2000s, a recent report by Morgan Stanley highlights striking parallels between then and now, attributing the current surge to a strong investment trajectory.

Echoing the vibrancy of India's economic boom during the mid-2000s, a recent report by Morgan Stanley highlights striking parallels between then and now, attributing the current surge to a strong investment trajectory. Economists at Morgan Stanley highlight the resemblance between India's current growth cycle and the period from 2003 to 2007, characterised by an investment-driven expansion that propelled the economy to impressive heights. The report indicates the vital role of investment as a primary driver of India's economic resurgence, mirroring the trajectory witnessed during the mid-2000s. Notably, India's gross fixed capital formation has surged, signalling a sustained upswing in investment activity after a decade-long decline. The investment ratio, which plummeted to 28 per cent in 2021, is projected to climb to 36 per cent by 2027, indicating the buoyancy of India's economic landscape. According to Bloomberg, Morgan Stanley economists project a promising trajectory for India's investment cycle, brought by the prospects of robust capital expenditure, burgeoning exports, and enhanced macroeconomic stability. Despite concerns about sustainability, the report posits that India's current growth trajectory exhibits resilience, with ample scope for further expansion driven by private sector participation and rising exports. India's status as the world's fastest-growing major economy is strengthened by its investment-led growth narrative, as highlighted by top economic advisers. Anticipating sustained capital formation, economists foresee India's economy expanding by over 7 per cent in the fiscal year commencing in April, fostering optimism amidst evolving global economic dynamics. The surge in investment activity has not only bolstered economic fundamentals but has also catalysed significant market movements. Key indices such as the S&P BSE Industrials Index have witnessed substantial gains, reflecting investor confidence in India's burgeoning industrial landscape. Amidst growing investor optimism, the collective market value of industrial players has surged, signalling robust growth prospects in key sectors. While India's current economic trajectory bears semblance to the resplendent growth witnessed in the mid-2000s, analysts have also issued caution against potential impediments that could impede the growth momentum. Labour shortages and logistical bottlenecks pose challenges to sustaining the growth cycle, warranting proactive measures to address emerging constraints. Nonetheless, Morgan Stanley remains optimistic about India's macroeconomic outlook, citing the enduring resilience of the investment-driven growth model. (With inputs from Bloomberg)

India's economic surge echoes mid-2000s boom, says Morgan Stanley report

Following a seven-minute meeting, International Business Machines Corp (IBM) disclosed plans for layoffs within its marketing and communications division, leaving employees grappling with uncertainty. <o:p></o:p>

Jonathan Adashek, the chief communications officer at IBM, broke the news during the session, without revealing specific figures, according to sources cited by CNBC.<o:p></o:p>

According to reports, IBM's move to streamline its workforce comes in the wake of CEO Arvind Krishna's previous statements outlining a shift towards integrating artificial intelligence (AI) into various functions, with the expectation of potentially replacing up to 30 per cent of roles with automation over five years. <o:p></o:p>

The company's emphasis on AI-led solutions has raised concerns about the future of traditional job roles within the tech giant. <o:p></o:p>

The decision to downsize reflects a broader trend within the technology industry, with approximately 204 tech companies collectively slashing nearly 50,000 jobs in 2024, as reported by layoffs.fyi. <o:p></o:p>

IBM's restructuring efforts aim to align its workforce with the changing technological landscapes, focusing on integrating AI technologies like WatsonX to enhance efficiency and productivity.<o:p></o:p>

Despite IBM's incremental revenue growth, the company has refrained from significant hiring initiatives, opting instead to prioritise AI integration and workforce balance. <o:p></o:p>

Notably, IBM's revenue from generative AI and WatsonX products doubled in comparison to the previous year, highlighting the company's quest towards AI-driven innovations.<o:p></o:p>

IBM's recent voluntary redundancy program in Europe indicates its transformative approach towards restructuring, with a large portion of the reduction targeted at Enterprise Operations &amp; Support (EO&amp;S), Q2C missions, and Finance &amp; Operations roles. <o:p></o:p>

Following a seven-minute meeting, International Business Machines Corp (IBM) disclosed plans for layoffs within its marketing and communications division, leaving employees grappling with uncertainty.

Following a seven-minute meeting, International Business Machines Corp (IBM) disclosed plans for layoffs within its marketing and communications division, leaving employees grappling with uncertainty. Jonathan Adashek, the chief communications officer at IBM, broke the news during the session, without revealing specific figures, according to sources cited by CNBC. According to reports, IBM's move to streamline its workforce comes in the wake of CEO Arvind Krishna's previous statements outlining a shift towards integrating artificial intelligence (AI) into various functions, with the expectation of potentially replacing up to 30 per cent of roles with automation over five years. The company's emphasis on AI-led solutions has raised concerns about the future of traditional job roles within the tech giant. The decision to downsize reflects a broader trend within the technology industry, with approximately 204 tech companies collectively slashing nearly 50,000 jobs in 2024, as reported by layoffs.fyi. IBM's restructuring efforts aim to align its workforce with the changing technological landscapes, focusing on integrating AI technologies like WatsonX to enhance efficiency and productivity. Despite IBM's incremental revenue growth, the company has refrained from significant hiring initiatives, opting instead to prioritise AI integration and workforce balance. Notably, IBM's revenue from generative AI and WatsonX products doubled in comparison to the previous year, highlighting the company's quest towards AI-driven innovations. IBM's recent voluntary redundancy program in Europe indicates its transformative approach towards restructuring, with a large portion of the reduction targeted at Enterprise Operations & Support (EO&S), Q2C missions, and Finance & Operations roles.

IBM announces job cuts amidst AI integration: Report

<o:p></o:p>

The UK government has announced plans to prohibit foreign state ownership of newspapers and news magazines in ordered to maintain the integrity of the British press. <o:p></o:p>

According to reports, the decision comes while concerns increase over a proposed takeover bid of the Daily Telegraph and Spectator by a United Arab Emirates-backed investment firm, RedBird IMI. <o:p></o:p>

Key details<o:p></o:p>

According to the BBC, the government, through media minister Stephen Parkinson, unveiled its intention to amend legislation to enforce the ban on foreign state ownership of newspapers. <o:p></o:p>

This announcement, made in the House of Lords, signals a significant shift in policy to prevent undue external influence on British media outlets.<o:p></o:p>

Pressure had been mounting on the government to intervene amidst growing concerns over the proposed takeover bid by RedBird IMI, which holds a 75 per cent stake in the investment venture. <o:p></o:p>

The bid, backed by UAE Deputy Prime Minister Sheikh Mansour bin Zayed Al Nahyan, raised serious apprehensions about potential foreign control over critical elements of the British press.<o:p></o:p>

Labour has expressed its support for the proposed legislative amendment, signalling cross-party consensus on the issue.<o:p></o:p>

The proposed ban, if enacted, would not apply to broadcasters, clarifies Lord Parkinson. <o:p></o:p>

This exclusion reflects a targeted approach to safeguarding the print media from foreign state influence while maintaining the autonomy of broadcasting channels, a BBC report said.<o:p></o:p>

Implications and reaction<o:p></o:p>

The announcement of the ban has dealt a significant blow to the RedBird IMI takeover bid, with industry insiders suggesting that the prospects of its success are diminishing rapidly. <o:p></o:p>

Key stakeholders, including Spectator chairman Andrew Neil, have welcomed the government's intervention, asserting that it represents a vital step in protecting the integrity of British journalism.<o:p></o:p>

The proposed amendment to the Digital Markets, Competition and Consumers Bill is expected to be met with widespread support in Parliament, reflecting a united front in defence of press freedom.<o:p></o:p>

Despite assurances from RedBird IMI that the bid was a purely commercial endeavour, concerns persist over the potential implications of foreign ownership on journalistic independence. <o:p></o:p>

(With inputs from AFP)<o:p></o:p>

The UK government has announced plans to prohibit foreign state ownership of newspapers and news magazines in ordered to maintain the integrity of the British press.

The UK government has announced plans to prohibit foreign state ownership of newspapers and news magazines in ordered to maintain the integrity of the British press. According to reports, the decision comes while concerns increase over a proposed takeover bid of the Daily Telegraph and Spectator by a United Arab Emirates-backed investment firm, RedBird IMI. Key details According to the BBC, the government, through media minister Stephen Parkinson, unveiled its intention to amend legislation to enforce the ban on foreign state ownership of newspapers. This announcement, made in the House of Lords, signals a significant shift in policy to prevent undue external influence on British media outlets. Pressure had been mounting on the government to intervene amidst growing concerns over the proposed takeover bid by RedBird IMI, which holds a 75 per cent stake in the investment venture. The bid, backed by UAE Deputy Prime Minister Sheikh Mansour bin Zayed Al Nahyan, raised serious apprehensions about potential foreign control over critical elements of the British press. Labour has expressed its support for the proposed legislative amendment, signalling cross-party consensus on the issue. The proposed ban, if enacted, would not apply to broadcasters, clarifies Lord Parkinson. This exclusion reflects a targeted approach to safeguarding the print media from foreign state influence while maintaining the autonomy of broadcasting channels, a BBC report said. Implications and reaction The announcement of the ban has dealt a significant blow to the RedBird IMI takeover bid, with industry insiders suggesting that the prospects of its success are diminishing rapidly. Key stakeholders, including Spectator chairman Andrew Neil, have welcomed the government's intervention, asserting that it represents a vital step in protecting the integrity of British journalism. The proposed amendment to the Digital Markets, Competition and Consumers Bill is expected to be met with widespread support in Parliament, reflecting a united front in defence of press freedom. Despite assurances from RedBird IMI that the bid was a purely commercial endeavour, concerns persist over the potential implications of foreign ownership on journalistic independence. (With inputs from AFP)

UK government moves to block foreign state ownership of British newspapers

IPhone maker Apple has made a huge concession in the European market...the tech giant will allow software makers to sell apps there..through their own websites or online marketplaces. Previously, the iPhone maker required all software makers to distribute their apps through its app store. The move is meant to comply with the EU’s Digital Markets Act, which kicked in last week. What does this mean for the company and for the software makers? We find out in the next report.

Apple allows developers to sell apps through their own websites

Amid escalating regulatory scrutiny, the Institute of Chartered Accountants of India (ICAI) has called out the auditors of edtech giant Byju's for "gross negligence," igniting concerns over financial integrity. <o:p></o:p>

ICAI president Ranjeet Kumar Agarwal&nbsp;has expressed his&nbsp;institution's disapproval of Byju's auditors' practices during a recent event. <o:p></o:p>

This comes after&nbsp;the resignation of Deloitte Haskins and Sells as Byju's statutory auditor in June 2023 on grounds of delayed financial statements&nbsp;for FY22. Subsequently,&nbsp;BDO's audit arm MSKA &amp; Associates assumed the auditing responsibilities. <o:p></o:p>

The ICAI's scrutiny has, however, uncovered glaring irregularities, prompting a rigorous three-tier review process. <o:p></o:p>

Agarwal emphasised that the disciplinary committee of ICAI will scrutinise the conduct of Byju's auditors, potentially leading to punitive measures. <o:p></o:p>

In a bid to address mounting concerns over financial accountability, Byju's released its audited financial statements for the 2022 fiscal year in February, revealing a staggering consolidated net loss of Rs 8,245 crore ($994 million) alongside revenue of Rs 5,015 crore ($605 million). <o:p></o:p>

This disclosure further fuelled apprehensions regarding the company's financial stability and governance practices.<o:p></o:p>

Meanwhile, shareholders of Byju's, unanimously voted to oust founder and CEO Byju Raveendran and his family members from the board in February, citing alleged mismanagement, as reported by NDTV Profit.<o:p></o:p>

However, Byju's refuted the legitimacy of the voting process, dismissing it as "invalid and ineffective," adding to the ongoing tumult surrounding the company's leadership and corporate governance.

Paytm also faces scrutiny

In parallel, the ICAI's deliberations extended to the crisis-ridden payments behemoth Paytm, as regulatory authorities intensify efforts to uphold financial transparency and accountability. <o:p></o:p>

With the Reserve Bank of India (RBI) barring Paytm Payments Bank from conducting business from March 15, the scrutiny over its financial affairs amplifies.<o:p></o:p>

As regulators&nbsp;tighten their&nbsp;grip on corporate entities, industry stakeholders stress the importance&nbsp;of increasing public trust in financial reporting and governance frameworks. <o:p></o:p>

Ajay Bhushan Prasad Pandey, the chairman of the National Financial Reporting Authority, has highlighted the pivotal role of auditors in fortifying corporate governance. He also emphasised&nbsp;the need for strong mechanisms to ensure transparency and accountability across all levels of corporate operations.<o:p></o:p>

(With inputs from PTI)<o:p></o:p>

Amid escalating regulatory scrutiny, the Institute of Chartered Accountants of India (ICAI) has called out the auditors of edtech giant Byju's for "gross negligence," igniting concerns over financial integrity.

Amid escalating regulatory scrutiny, the Institute of Chartered Accountants of India (ICAI) has called out the auditors of edtech giant Byju's for "gross negligence," igniting concerns over financial integrity. ICAI president Ranjeet Kumar Agarwal has expressed his institution's disapproval of Byju's auditors' practices during a recent event. This comes after the resignation of Deloitte Haskins and Sells as Byju's statutory auditor in June 2023 on grounds of delayed financial statements for FY22. Subsequently, BDO's audit arm MSKA & Associates assumed the auditing responsibilities. The ICAI's scrutiny has, however, uncovered glaring irregularities, prompting a rigorous three-tier review process. Agarwal emphasised that the disciplinary committee of ICAI will scrutinise the conduct of Byju's auditors, potentially leading to punitive measures. In a bid to address mounting concerns over financial accountability, Byju's released its audited financial statements for the 2022 fiscal year in February, revealing a staggering consolidated net loss of Rs 8,245 crore ($994 million) alongside revenue of Rs 5,015 crore ($605 million). This disclosure further fuelled apprehensions regarding the company's financial stability and governance practices. Meanwhile, shareholders of Byju's, unanimously voted to oust founder and CEO Byju Raveendran and his family members from the board in February, citing alleged mismanagement, as reported by NDTV Profit. However, Byju's refuted the legitimacy of the voting process, dismissing it as "invalid and ineffective," adding to the ongoing tumult surrounding the company's leadership and corporate governance. Paytm also faces scrutiny In parallel, the ICAI's deliberations extended to the crisis-ridden payments behemoth Paytm, as regulatory authorities intensify efforts to uphold financial transparency and accountability. With the Reserve Bank of India (RBI) barring Paytm Payments Bank from conducting business from March 15, the scrutiny over its financial affairs amplifies. As regulators tighten their grip on corporate entities, industry stakeholders stress the importance of increasing public trust in financial reporting and governance frameworks. Ajay Bhushan Prasad Pandey, the chairman of the National Financial Reporting Authority, has highlighted the pivotal role of auditors in fortifying corporate governance. He also emphasised the need for strong mechanisms to ensure transparency and accountability across all levels of corporate operations. (With inputs from PTI)

Byju's regulatory scrutiny: Auditors accused of 'gross negligence' amid doubts on financial integrity

Paytm is facing a tumultuous period as its parent company, One 97 Communications, grapples with regulatory scrutiny. Amid speculations of workforce reductions, Paytm's head of communications has addressed concerns to WION, denying any layoff intentions.

Over the past weeks, reports have surfaced regarding One 97 Communications' plans to reduce its workforce across various departments. The move comes as the RBI scrutinises Paytm's payment banks for alleged lapses in due diligence, prompting the fintech unicorn to undergo an annual performance review.

In response to queries regarding potential job cuts, a Paytm spokesperson asserted that the ongoing appraisal cycle is a routine practice. They emphasised that performance assessments might lead to adjustments based on evaluations and role suitability. Additionally, the spokesperson highlighted the company's focus on AI-powered automation to drive efficiency, stating that certain roles and tasks are being redefined to align with growth and cost-efficiency goals.

Despite the company's reassurances, employees have expressed concerns over job security. Some allege being placed on Performance Improvement Plans (PIPs) with the possibility of termination thereafter, without severance packages. Reports indicate a surge in employees actively seeking alternative opportunities amid uncertainties surrounding their future at Paytm.

Speculation regarding the scale of the workforce reduction has been rife, with comparisons drawn to previous instances where the company issued pink slips. However, Paytm emphasised that the appraisal process is distinct from layoffs and is part of routine performance evaluations.

Paytm is facing a tumultuous period as its parent company, One 97 Communications, grapples with regulatory scrutiny. Amid speculations of workforce reductions, Paytm's head of communications has addressed concerns to WION, denying any layoff intentions.

Paytm is facing a tumultuous period as its parent company, One 97 Communications, grapples with regulatory scrutiny. Amid speculations of workforce reductions, Paytm's head of communications has addressed concerns to WION, denying any layoff intentions. Over the past weeks, reports have surfaced regarding One 97 Communications' plans to reduce its workforce across various departments. The move comes as the RBI scrutinises Paytm's payment banks for alleged lapses in due diligence, prompting the fintech unicorn to undergo an annual performance review. In response to queries regarding potential job cuts, a Paytm spokesperson asserted that the ongoing appraisal cycle is a routine practice. They emphasised that performance assessments might lead to adjustments based on evaluations and role suitability. Additionally, the spokesperson highlighted the company's focus on AI-powered automation to drive efficiency, stating that certain roles and tasks are being redefined to align with growth and cost-efficiency goals. Despite the company's reassurances, employees have expressed concerns over job security. Some allege being placed on Performance Improvement Plans (PIPs) with the possibility of termination thereafter, without severance packages. Reports indicate a surge in employees actively seeking alternative opportunities amid uncertainties surrounding their future at Paytm. Speculation regarding the scale of the workforce reduction has been rife, with comparisons drawn to previous instances where the company issued pink slips. However, Paytm emphasised that the appraisal process is distinct from layoffs and is part of routine performance evaluations.

Paytm addresses workforce reduction speculations amid regulatory scrutiny

WION's Business Desk brings you this daily round up of global stories from the world of business and economy.&nbsp;

IBM announces job cuts amidst AI integration: Report&nbsp;

Following a seven-minute meeting, International Business Machines Corp (IBM) disclosed plans for layoffs within its marketing and communications division, leaving employees grappling with uncertainty.

<a href="https://www.wionews.com/business-economy/ibm-announces-job-cuts-amidst-embrace-of-ai-functions-raises-concerns-across-tech-sector-699895 ">Read more here</a>

Byju's Regulatory Scrutiny: Auditors accused of 'gross negligence' amid doubts on financial integrity&nbsp;

Amid escalating regulatory scrutiny, the Institute of Chartered Accountants of India (ICAI) has called out the auditors of edtech giant Byju's for "gross negligence," igniting concerns over financial integrity.

<a href="https://www.wionews.com/business-economy/byjus-under-regulatory-scrutiny-auditors-face-tensions-amid-looming-doubts-on-financial-integrity-699908 ">Read more here</a>

India's economic surge echoes mid-2000s boom, says Morgan Stanley report&nbsp;

Echoing the vibrancy of India's economic boom during the mid-2000s, a recent report by Morgan Stanley highlights striking parallels between then and now, attributing the current surge to a strong investment trajectory.

<a href="https://www.wionews.com/business-economy/indias-economic-surge-echoes-mid-2000s-boom-says-morgan-stanley-report-699929 ">Read more here</a>

Israeli parliament approves amended 2024 budget, prioritising funding for Gaza war&nbsp;

The Israeli parliament has approved an amended 2024 state budget, allocating funds towards sustaining Israel's military campaign against Hamas in Gaza. This decision comes as the conflict with the Islamist Palestinian group extends into its sixth month.

<a href="https://www.wionews.com/business-economy/israeli-parliament-approves-amended-2024-budget-prioritising-funding-for-gaza-war-699944 ">Read more here</a>

Brazil shifts focus to new markets amid EU deadlock&nbsp;

Amid stalled trade negotiations between the Mercosur bloc and the European Union (EU), Brazil is planning to expand its agricultural exports to India and Africa.

<a href="https://www.wionews.com/business-economy/brazil-shifts-focus-to-new-markets-amid-eu-deadlock-699980 ">Read more here</a>

Adidas reports first annual loss in over 30 years amid North American sales warning&nbsp;

German sportswear giant Adidas revealed its first annual loss in more than three decades, citing challenges in the North American market and ongoing supply chain disruptions.

<a href="https://www.wionews.com/business-economy/adidas-reports-first-annual-loss-in-over-30-years-amid-north-american-sales-warning-699957 ">Read more here</a>

Europe aviation regulator prepared to halt Boeing approval amid safety concerns&nbsp;

Amid mounting safety concerns regarding Boeing's aircraft production, Europe's aviation regulatory body, the European Union Aviation Safety Agency (EASA), has signalled that it could suspend its indirect approval of Boeing's jet production if deemed necessary.

<a href="https://www.wionews.com/business-economy/europe-aviation-regulator-prepared-to-halt-boeing-approval-amid-safety-concerns-699988">Read more here</a>

Delta Air Lines to resume flights to Tel Aviv in June

Delta Air Lines has announced plans to resume daily flights between New York-JFK and Tel Aviv, starting June 7.

<a href="https://www.wionews.com/business-economy/delta-air-lines-to-resume-flights-to-tel-aviv-in-june-700000">Read more here</a>

How Biden administration aims to tackle Chinese EV competition

US Treasury Secretary Janet Yellen on Wednesday reiterated the Biden administration's commitment to boost the domestic electric vehicle (EV) industry and counter China's burgeoning exports in the sector.&nbsp;

<a href="https://www.wionews.com/business-economy/how-biden-administration-aims-to-tackle-chinese-ev-competition-699997">Read more here</a> 
&nbsp;

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. IBM announces job cuts amidst AI integration: Report Following a seven-minute meeting, International Business Machines Corp (IBM) disclosed plans for layoffs within its marketing and communications division, leaving employees grappling with uncertainty.

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. IBM announces job cuts amidst AI integration: Report Following a seven-minute meeting, International Business Machines Corp (IBM) disclosed plans for layoffs within its marketing and communications division, leaving employees grappling with uncertainty. Read more here Byju's Regulatory Scrutiny: Auditors accused of 'gross negligence' amid doubts on financial integrity Amid escalating regulatory scrutiny, the Institute of Chartered Accountants of India (ICAI) has called out the auditors of edtech giant Byju's for "gross negligence," igniting concerns over financial integrity. Read more here India's economic surge echoes mid-2000s boom, says Morgan Stanley report Echoing the vibrancy of India's economic boom during the mid-2000s, a recent report by Morgan Stanley highlights striking parallels between then and now, attributing the current surge to a strong investment trajectory. Read more here Israeli parliament approves amended 2024 budget, prioritising funding for Gaza war The Israeli parliament has approved an amended 2024 state budget, allocating funds towards sustaining Israel's military campaign against Hamas in Gaza. This decision comes as the conflict with the Islamist Palestinian group extends into its sixth month. Read more here Brazil shifts focus to new markets amid EU deadlock Amid stalled trade negotiations between the Mercosur bloc and the European Union (EU), Brazil is planning to expand its agricultural exports to India and Africa. Read more here Adidas reports first annual loss in over 30 years amid North American sales warning German sportswear giant Adidas revealed its first annual loss in more than three decades, citing challenges in the North American market and ongoing supply chain disruptions. Read more here Europe aviation regulator prepared to halt Boeing approval amid safety concerns Amid mounting safety concerns regarding Boeing's aircraft production, Europe's aviation regulatory body, the European Union Aviation Safety Agency (EASA), has signalled that it could suspend its indirect approval of Boeing's jet production if deemed necessary. Read more here Delta Air Lines to resume flights to Tel Aviv in June Delta Air Lines has announced plans to resume daily flights between New York-JFK and Tel Aviv, starting June 7. Read more here How Biden administration aims to tackle Chinese EV competition US Treasury Secretary Janet Yellen on Wednesday reiterated the Biden administration's commitment to boost the domestic electric vehicle (EV) industry and counter China's burgeoning exports in the sector. Read more here

WION Business Wrap | Adidas' historic loss, India's economic surge and more

Delta Air Lines has announced plans to resume daily flights between New York-JFK and Tel Aviv, starting June 7.

This follows an extensive security assessment by the airline and makes Delta the second major US carrier to restart flights to Israel after the Hamas attack in October 2023.

United Airlines previously resumed flights from Newark to Tel Aviv earlier this month, but hasn't announced plans for restarting flights from other US cities until fall.

Delta's new route will offer about 2,000 seats weekly from New York to Israel, and the airline said it's "closely monitoring the situation in Israel".

The restart of flights by major US carriers is seen as a potential turning point for travel to Israel, which had suffered due to security concerns following the Hamas attacks and Israeli retaliation.

Before the October incident, United Airlines operated four daily flights directly to Tel Aviv from various US cities.

The airline has stated that it will evaluate resuming flights from those locations in the fall.

Lufthansa, Swiss, Austrian, Aegean, and Air France are among the numerous carriers that have already started operating again to Tel Aviv.

American Airlines, on the other hand, has extended its suspension of flights to Israel until October 28th. Lawmakers had previously urged airlines to resume flights as soon as possible.

(With inputs from Reuters)

Delta Air Lines has announced plans to resume daily flights between New York-JFK and Tel Aviv, starting June 7. This follows an extensive security assessment by the airline and makes Delta the second major US carrier to restart flights to Israel after the Hamas attack in October 2023.

Delta Air Lines has announced plans to resume daily flights between New York-JFK and Tel Aviv, starting June 7. This follows an extensive security assessment by the airline and makes Delta the second major US carrier to restart flights to Israel after the Hamas attack in October 2023. United Airlines previously resumed flights from Newark to Tel Aviv earlier this month, but hasn't announced plans for restarting flights from other US cities until fall. Delta's new route will offer about 2,000 seats weekly from New York to Israel, and the airline said it's "closely monitoring the situation in Israel". The restart of flights by major US carriers is seen as a potential turning point for travel to Israel, which had suffered due to security concerns following the Hamas attacks and Israeli retaliation. Before the October incident, United Airlines operated four daily flights directly to Tel Aviv from various US cities. The airline has stated that it will evaluate resuming flights from those locations in the fall. Lufthansa, Swiss, Austrian, Aegean, and Air France are among the numerous carriers that have already started operating again to Tel Aviv. American Airlines, on the other hand, has extended its suspension of flights to Israel until October 28th. Lawmakers had previously urged airlines to resume flights as soon as possible. (With inputs from Reuters)

Delta Air Lines to resume flights to Tel Aviv in June

US Treasury Secretary Janet Yellen on Wednesday reiterated the Biden administration's commitment to boost the domestic electric vehicle (EV) industry and counter China's burgeoning exports in the sector.&nbsp;

A&nbsp;Reuters report quoted Yellen, who was&nbsp;visiting a battery materials plant in Kentucky,&nbsp;as saying, "We're going to want our domestic industry to be successful."

With China's increasing exports of EVs to global markets raising concerns in Washington, the Biden administration has been exploring various avenues to safeguard US automakers and industry interests.

Highlighting the potential impact of Chinese EV exports on the US automotive sector, Yellen acknowledged the need for strategic measures to address the situation.

Notably, current tariffs imposed by former President Donald Trump have effectively restricted Chinese EVs from entering the US market.

However, with Chinese EV giant BYD already exploring avenues such as exports to Mexico and the establishment of a Mexican factory, concerns persist regarding the future competitiveness of US automakers.

In response to mounting concerns, some US senators have urged the Biden administration to consider further tariffs on Chinese EVs.

Additionally, the US Commerce Department has initiated an investigation into whether Chinese vehicle imports pose national security risks due to the data they transmit.

This investigation could potentially result in additional restrictions on both EVs and conventional vehicles, further shaping the landscape of international trade in the automotive sector.

Yellen has been talking about the need for reducing US dependence on Chinese supply chains for EV components and minerals, particularly in light of the Inflation Reduction Act.&nbsp;

Reuters quoted Yellen as saying, "It is true that China is investing very massively in this industry and the United States is taking steps to ensure that our industry is successful."

Provisions within the Inflation Reduction Act, such as "foreign entity of concern" rules, aim to incentivise the use of domestically sourced materials in EV production while limiting the inclusion of Chinese content.

(With inputs from Reuters)

US Treasury Secretary Janet Yellen on Wednesday reiterated the Biden administration's commitment to boost the domestic electric vehicle (EV) industry and counter China's burgeoning exports in the sector.

US Treasury Secretary Janet Yellen on Wednesday reiterated the Biden administration's commitment to boost the domestic electric vehicle (EV) industry and counter China's burgeoning exports in the sector. A Reuters report quoted Yellen, who was visiting a battery materials plant in Kentucky, as saying, "We're going to want our domestic industry to be successful." With China's increasing exports of EVs to global markets raising concerns in Washington, the Biden administration has been exploring various avenues to safeguard US automakers and industry interests. Highlighting the potential impact of Chinese EV exports on the US automotive sector, Yellen acknowledged the need for strategic measures to address the situation. Notably, current tariffs imposed by former President Donald Trump have effectively restricted Chinese EVs from entering the US market. However, with Chinese EV giant BYD already exploring avenues such as exports to Mexico and the establishment of a Mexican factory, concerns persist regarding the future competitiveness of US automakers. In response to mounting concerns, some US senators have urged the Biden administration to consider further tariffs on Chinese EVs. Additionally, the US Commerce Department has initiated an investigation into whether Chinese vehicle imports pose national security risks due to the data they transmit. This investigation could potentially result in additional restrictions on both EVs and conventional vehicles, further shaping the landscape of international trade in the automotive sector. Yellen has been talking about the need for reducing US dependence on Chinese supply chains for EV components and minerals, particularly in light of the Inflation Reduction Act. Reuters quoted Yellen as saying, "It is true that China is investing very massively in this industry and the United States is taking steps to ensure that our industry is successful." Provisions within the Inflation Reduction Act, such as "foreign entity of concern" rules, aim to incentivise the use of domestically sourced materials in EV production while limiting the inclusion of Chinese content. (With inputs from Reuters)

How Biden administration aims to tackle Chinese EV competition

Amid mounting safety concerns regarding Boeing's aircraft production, Europe's aviation regulatory body, the European Union Aviation Safety Agency (EASA), has signalled that it could suspend its indirect approval of Boeing's jet production if deemed necessary. <o:p></o:p>

Luc Tytgat, acting executive director of EASA, expressed the agency's stance, towards ensuring aircraft safety amid&nbsp;Boeing's latest safety crisis. <o:p></o:p>

In an interview with Reuters, Tytgat stated, "If need be, yes," in response to inquiries regarding EASA's willingness to stop recognising US production safety approvals for Boeing jets. <o:p></o:p>

Challenges to international cooperation<o:p></o:p>

Tytgat's remarks underscore the strain on international cooperation governing global airplane production, particularly amid Boeing's ongoing safety crisis. <o:p></o:p>

The transatlantic pact between the US Federal Aviation Administration (FAA) and EASA, which mutually recognise each other's safety approvals, faces scrutiny as concerns mount over Boeing's factory quality control. <o:p></o:p>

Notably, recent incidents, including a mid-air door plug detachment on an Alaska Air Boeing 737 MAX 9 jet, have intensified scrutiny on Boeing's manufacturing processes. <o:p></o:p>

Potential regulatory actions<o:p></o:p>

While Tytgat acknowledged that no immediate regulatory actions were imminent, he emphasised the importance of maintaining vigilance in ensuring aircraft safety. <o:p></o:p>

EASA possesses the authority to suspend recognition of production approvals if consultations fail to address compliance issues, following a 30-day pause period. <o:p></o:p>

Tytgat highlighted the rare nature of such measures, indicating that any decision to suspend recognition would require justifiable circumstances.<o:p></o:p>

EASA's oversight <o:p></o:p>

EASA's influence over Boeing's aircraft design has expanded in the aftermath of the Boeing 737 MAX crashes. <o:p></o:p>

However, Tytgat noted limited avenues for increased monitoring of existing Boeing models, aside from the drastic option of suspending recognition. <o:p></o:p>

Following discussions with Boeing executives, Tytgat expressed a degree of reassurance regarding the company's commitment to enhancing production quality controls. <o:p></o:p>

While EASA officials visited Boeing's 737 plant recently, Tytgat ruled out a permanent presence, citing the spirit of the transatlantic safety agreement. <o:p></o:p>

FAA and Boeing’s responses<o:p></o:p>

Both the FAA and Boeing have responded to the concerns raised by EASA.<o:p></o:p>

FAA Administrator Mike Whitaker affirmed that the agency's would take action if necessary to ensure safety standards in Boeing's production. <o:p></o:p>

However, neither Boeing nor the FAA directly commented on EASA's remarks regarding potential production halts. <o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

Amid mounting safety concerns regarding Boeing's aircraft production, Europe's aviation regulatory body, the European Union Aviation Safety Agency (EASA), has signalled that it could suspend its indirect approval of Boeing's jet production if deemed necessary.

Amid mounting safety concerns regarding Boeing's aircraft production, Europe's aviation regulatory body, the European Union Aviation Safety Agency (EASA), has signalled that it could suspend its indirect approval of Boeing's jet production if deemed necessary. Luc Tytgat, acting executive director of EASA, expressed the agency's stance, towards ensuring aircraft safety amid Boeing's latest safety crisis. In an interview with Reuters, Tytgat stated, "If need be, yes," in response to inquiries regarding EASA's willingness to stop recognising US production safety approvals for Boeing jets. Challenges to international cooperation Tytgat's remarks underscore the strain on international cooperation governing global airplane production, particularly amid Boeing's ongoing safety crisis. The transatlantic pact between the US Federal Aviation Administration (FAA) and EASA, which mutually recognise each other's safety approvals, faces scrutiny as concerns mount over Boeing's factory quality control. Notably, recent incidents, including a mid-air door plug detachment on an Alaska Air Boeing 737 MAX 9 jet, have intensified scrutiny on Boeing's manufacturing processes. Potential regulatory actions While Tytgat acknowledged that no immediate regulatory actions were imminent, he emphasised the importance of maintaining vigilance in ensuring aircraft safety. EASA possesses the authority to suspend recognition of production approvals if consultations fail to address compliance issues, following a 30-day pause period. Tytgat highlighted the rare nature of such measures, indicating that any decision to suspend recognition would require justifiable circumstances. EASA's oversight EASA's influence over Boeing's aircraft design has expanded in the aftermath of the Boeing 737 MAX crashes. However, Tytgat noted limited avenues for increased monitoring of existing Boeing models, aside from the drastic option of suspending recognition. Following discussions with Boeing executives, Tytgat expressed a degree of reassurance regarding the company's commitment to enhancing production quality controls. While EASA officials visited Boeing's 737 plant recently, Tytgat ruled out a permanent presence, citing the spirit of the transatlantic safety agreement. FAA and Boeing’s responses Both the FAA and Boeing have responded to the concerns raised by EASA. FAA Administrator Mike Whitaker affirmed that the agency's would take action if necessary to ensure safety standards in Boeing's production. However, neither Boeing nor the FAA directly commented on EASA's remarks regarding potential production halts. (With inputs from Reuters)

Europe's aviation regulator prepared to halt Boeing's approval amid safety concerns

Amid stalled trade negotiations between the Mercosur bloc and the European Union (EU), Brazil is planning to&nbsp;expand its&nbsp;agricultural exports to India and Africa.<o:p></o:p>

According to Bloomberg, President Luiz Inacio Lula da Silva has expressed a keen interest in tapping into these markets, highlighting a shift towards diversification amid the deadlock in EU trade discussions. <o:p></o:p>

Agriculture Minister Carlos Favaro disclosed plans for a substantial trade mission to India, comprising over 300 entrepreneurs, with a targeted timeframe around mid-year.<o:p></o:p>

Targeting the Indian market<o:p></o:p>

Brazil's endeavour to strengthen ties with India is driven by the latter's burgeoning demand for various agricultural products, including fruits, juices, coffee, and black beans. <o:p></o:p>

Minister Favaro said that there was potential for heightened trade relations between the two nations, accentuating India's growing appetite for Brazilian agricultural goods. <o:p></o:p>

This move comes in the wake of President Lula's diplomatic engagements in India and Ethiopia, where discussions with African Union leaders have paved the way for enhanced trade opportunities with the continent.<o:p></o:p>

Opportunities in Africa<o:p></o:p>

Following President Lula's diplomatic overtures in Africa, particularly in Egypt and Ethiopia, Brazil is eyeing opportunities to bolster exports of meat and grains to the continent. <o:p></o:p>

Minister Favaro noted the significance of leveraging diplomatic relations to facilitate trade missions, aligning with President Lula's directives to explore and penetrate new markets in Africa. <o:p></o:p>

EU deadlock and shifting strategies<o:p></o:p>

The impasse in trade negotiations between Mercosur and the EU, exacerbated by concerns from European farmers regarding potential influxes of cheap imports and environmental standards, has prompted Brazil to recalibrate its trade strategies. <o:p></o:p>

President Lula's administration has capitalised on his global popularity to forge new trade partnerships, opening up 96 new markets since the commencement of his third term in January 2023. <o:p></o:p>

Notably, Brazil's focus on expanding its meat exports, particularly to China, has witnessed significant traction, with 38 new plants authorized for export to China. <o:p></o:p>

Exploring alternative markets<o:p></o:p>

While prospects for a breakthrough in Mercosur-EU negotiations remain uncertain, Brazil is intensifying efforts to explore alternative markets in Asia, Africa, and the Middle East. <o:p></o:p>

Minister Favaro reiterated Brazil's plans towards diversifying its trade relations, citing the need to explore markets beyond the confines of the EU amid the prevailing deadlock. <o:p></o:p>

With France adopting a more protectionist stance, Brazil aims to capitalize on emerging opportunities in dynamic regions to sustain its agricultural exports. <o:p></o:p>

(With inputs from Bloomberg)<o:p></o:p>

Amid stalled trade negotiations between the Mercosur bloc and the European Union (EU), Brazil is planning to expand its agricultural exports to India and Africa.

Amid stalled trade negotiations between the Mercosur bloc and the European Union (EU), Brazil is planning to expand its agricultural exports to India and Africa. According to Bloomberg, President Luiz Inacio Lula da Silva has expressed a keen interest in tapping into these markets, highlighting a shift towards diversification amid the deadlock in EU trade discussions. Agriculture Minister Carlos Favaro disclosed plans for a substantial trade mission to India, comprising over 300 entrepreneurs, with a targeted timeframe around mid-year. Targeting the Indian market Brazil's endeavour to strengthen ties with India is driven by the latter's burgeoning demand for various agricultural products, including fruits, juices, coffee, and black beans. Minister Favaro said that there was potential for heightened trade relations between the two nations, accentuating India's growing appetite for Brazilian agricultural goods. This move comes in the wake of President Lula's diplomatic engagements in India and Ethiopia, where discussions with African Union leaders have paved the way for enhanced trade opportunities with the continent. Opportunities in Africa Following President Lula's diplomatic overtures in Africa, particularly in Egypt and Ethiopia, Brazil is eyeing opportunities to bolster exports of meat and grains to the continent. Minister Favaro noted the significance of leveraging diplomatic relations to facilitate trade missions, aligning with President Lula's directives to explore and penetrate new markets in Africa. EU deadlock and shifting strategies The impasse in trade negotiations between Mercosur and the EU, exacerbated by concerns from European farmers regarding potential influxes of cheap imports and environmental standards, has prompted Brazil to recalibrate its trade strategies. President Lula's administration has capitalised on his global popularity to forge new trade partnerships, opening up 96 new markets since the commencement of his third term in January 2023. Notably, Brazil's focus on expanding its meat exports, particularly to China, has witnessed significant traction, with 38 new plants authorized for export to China. Exploring alternative markets While prospects for a breakthrough in Mercosur-EU negotiations remain uncertain, Brazil is intensifying efforts to explore alternative markets in Asia, Africa, and the Middle East. Minister Favaro reiterated Brazil's plans towards diversifying its trade relations, citing the need to explore markets beyond the confines of the EU amid the prevailing deadlock. With France adopting a more protectionist stance, Brazil aims to capitalize on emerging opportunities in dynamic regions to sustain its agricultural exports. (With inputs from Bloomberg)

Brazil shifts focus to new markets amid EU deadlock

In the ever-evolving landscape of deep tech, it is estimated that 43% of STEM graduates in India are female – one of the highest percentages globally. However, their representation in STEM jobs within the country is staggeringly low, settling at just 14%. The underrepresentation of women remains a significant challenge. The concern is not merely about inequality, but also the resultant obstruction of the broader journey of innovation and progress. A multitude of factors, including the gender pay gap, unequal access to opportunities, and gender-based stereotypes and biases, have contributed to this disparity.&nbsp; 
&nbsp; 
The need for increased involvement of women professionals and leaders in deep tech assumes even greater urgency in the context of our current AI boom. A study by the Stanford Social Innovation Review examined 133 AI systems across sectors and revealed that as many as 44.2% of these systems exhibited gender bias. This alarming finding underscores how female participation in the sector, especially when it comes to tasks such as AI model training, is critical for designing systems that ensure truly equitable outcomes.&nbsp; 
&nbsp; 
Conscious inclusion, not neutrality&nbsp; 
&nbsp; 
Gender equity cannot be achieved passively; but requires conscious efforts to recognize and resolve biases. This shift in perspective can be achieved when organizations, as well as society at large, play an active role in supporting diversity and inclusion.&nbsp; 
&nbsp; 
One approach that can add value is curating L&amp;D programs tailored for women to bridge the gender gap in tech and create environments where women can contribute meaningfully to AI development. Additionally, active efforts to recruit and promote more women, through rooting out biases in hiring and evaluation processes, will go a long way towards creating a conducive environment for female professionals to thrive. 
&nbsp; 
Co-creation of technology&nbsp; 
&nbsp; 
Imagine a world where technology is not just created for everyone but by everyone. This is the essence of co-creation. Involving women in the design, development, and implementation of technology solutions is not just about ‘ticking a box’; but recognizing the diverse needs, perspectives, and experiences of women and harnessing them to create more inclusive and equitable technological solutions. 
&nbsp; 
Across a wide range of sectors – be it healthcare, finance, education, or transportation - including women’s perspectives in the design and development of systems, results in solutions that better meet the needs of all stakeholders, regardless of gender. 
&nbsp; 
Mentorship programmes&nbsp; 
&nbsp; 
Effective mentorship programmes empower experienced leaders to become guiding lights for aspiring professionals. Beyond mere knowledge-sharing, these programs endeavor to inspire younger generations of professionals. When women see other women thriving in tech leadership roles, it instills a sense of self-belief and confidence that drives them to pursue their paths to excellence. 
&nbsp; 
Consider being able to engage with a successful woman in tech leadership—a trailblazer who has walked the path you're on and overcome gender-specific challenges you face. With strong mentors by their side, women can navigate the twists and turns in their tech careers with courage and resilience, knowing that they are not alone on this journey. 
&nbsp; 
Leadership development&nbsp; 
&nbsp; 
Dedicated leadership development programs for women can play a key role in addressing the gender gap at the very top of organizations. These programs offer a targeted approach to skill-building, focusing on the unique challenges that women face in the industry and the skills and tools they need to overcome these obstacles and rise to leadership positions.&nbsp; 
&nbsp; 
Coaching and guidance from experienced female leaders as part of these programs will be invaluable, as they keenly understand the nuances of navigating the tech landscape as a woman. 
&nbsp; 
Flexible learning opportunities 
&nbsp; 
Flexible learning opportunities are a powerful tool for empowering women in the workplace, giving them the ability to further educate and upskill themselves without having to compromise on time with their families, or other personal commitments.&nbsp; 
&nbsp; 
This opens doors to exciting new possibilities for women professionals, while helping them stay ahead of the curve. Online courses that can be attended at their convenience, or part-time learning programs that can be juggled with other work responsibilities, can serve as a significant enabling factor for aspiring female leaders. 
&nbsp; 
Employee resource groups 
&nbsp; 
Employee Resource Groups (ERGs) focused on gender-related issues are invaluable platforms for women to make their voices heard. It gives them an opportunity to actively participate in shaping policies and initiatives that directly impact their lives and careers. &nbsp; 
&nbsp; 
For instance, an ERG focused on childcare services may collaborate with HR to advocate for the implementation of on-site childcare facilities or flexible work arrangements to accommodate working parents. Through open dialogue and collaboration, ERG members can identify common challenges and work together to develop solutions that benefit all women across the organization. 
&nbsp; 
Towards a more equitable deeptech landscape 
&nbsp; 
Looking to the future of deeptech, the endeavour should be to evolve a new paradigm where gender biases are not ignored, but rather recognized and actively mitigated. At the heart of this goal lies the realization that true innovation thrives on diversity. Bringing greater numbers of women on board will unlock fresh insights and perspectives within organizations, paving the way for unparalleled advancements. L&amp;D strategies, and other interventions, tailored to address the unique challenges and concerns of women in the sector will empower them to play their part in shaping a more equitable, technology-driven future for all. 
&nbsp;

In the ever-evolving landscape of deep tech, it is estimated that 43% of STEM graduates in India are female – one of the highest percentages globally. However, their representation in STEM jobs within the country is staggeringly low, settling at just 14%.

In the ever-evolving landscape of deep tech, it is estimated that 43% of STEM graduates in India are female – one of the highest percentages globally. However, their representation in STEM jobs within the country is staggeringly low, settling at just 14%. The underrepresentation of women remains a significant challenge. The concern is not merely about inequality, but also the resultant obstruction of the broader journey of innovation and progress. A multitude of factors, including the gender pay gap, unequal access to opportunities, and gender-based stereotypes and biases, have contributed to this disparity. The need for increased involvement of women professionals and leaders in deep tech assumes even greater urgency in the context of our current AI boom. A study by the Stanford Social Innovation Review examined 133 AI systems across sectors and revealed that as many as 44.2% of these systems exhibited gender bias. This alarming finding underscores how female participation in the sector, especially when it comes to tasks such as AI model training, is critical for designing systems that ensure truly equitable outcomes. Conscious inclusion, not neutrality Gender equity cannot be achieved passively; but requires conscious efforts to recognize and resolve biases. This shift in perspective can be achieved when organizations, as well as society at large, play an active role in supporting diversity and inclusion. One approach that can add value is curating L&D programs tailored for women to bridge the gender gap in tech and create environments where women can contribute meaningfully to AI development. Additionally, active efforts to recruit and promote more women, through rooting out biases in hiring and evaluation processes, will go a long way towards creating a conducive environment for female professionals to thrive. Co-creation of technology Imagine a world where technology is not just created for everyone but by everyone. This is the essence of co-creation. Involving women in the design, development, and implementation of technology solutions is not just about ‘ticking a box’; but recognizing the diverse needs, perspectives, and experiences of women and harnessing them to create more inclusive and equitable technological solutions. Across a wide range of sectors – be it healthcare, finance, education, or transportation - including women’s perspectives in the design and development of systems, results in solutions that better meet the needs of all stakeholders, regardless of gender. Mentorship programmes Effective mentorship programmes empower experienced leaders to become guiding lights for aspiring professionals. Beyond mere knowledge-sharing, these programs endeavor to inspire younger generations of professionals. When women see other women thriving in tech leadership roles, it instills a sense of self-belief and confidence that drives them to pursue their paths to excellence. Consider being able to engage with a successful woman in tech leadership—a trailblazer who has walked the path you're on and overcome gender-specific challenges you face. With strong mentors by their side, women can navigate the twists and turns in their tech careers with courage and resilience, knowing that they are not alone on this journey. Leadership development Dedicated leadership development programs for women can play a key role in addressing the gender gap at the very top of organizations. These programs offer a targeted approach to skill-building, focusing on the unique challenges that women face in the industry and the skills and tools they need to overcome these obstacles and rise to leadership positions. Coaching and guidance from experienced female leaders as part of these programs will be invaluable, as they keenly understand the nuances of navigating the tech landscape as a woman. Flexible learning opportunities Flexible learning opportunities are a powerful tool for empowering women in the workplace, giving them the ability to further educate and upskill themselves without having to compromise on time with their families, or other personal commitments. This opens doors to exciting new possibilities for women professionals, while helping them stay ahead of the curve. Online courses that can be attended at their convenience, or part-time learning programs that can be juggled with other work responsibilities, can serve as a significant enabling factor for aspiring female leaders. Employee resource groups Employee Resource Groups (ERGs) focused on gender-related issues are invaluable platforms for women to make their voices heard. It gives them an opportunity to actively participate in shaping policies and initiatives that directly impact their lives and careers. For instance, an ERG focused on childcare services may collaborate with HR to advocate for the implementation of on-site childcare facilities or flexible work arrangements to accommodate working parents. Through open dialogue and collaboration, ERG members can identify common challenges and work together to develop solutions that benefit all women across the organization. Towards a more equitable deeptech landscape Looking to the future of deeptech, the endeavour should be to evolve a new paradigm where gender biases are not ignored, but rather recognized and actively mitigated. At the heart of this goal lies the realization that true innovation thrives on diversity. Bringing greater numbers of women on board will unlock fresh insights and perspectives within organizations, paving the way for unparalleled advancements. L&D strategies, and other interventions, tailored to address the unique challenges and concerns of women in the sector will empower them to play their part in shaping a more equitable, technology-driven future for all.

Expert voice | Empowering women in deeptech: strategies for a more equitable future

Country Garden Holdings Co, a major Chinese property developer, has failed to make a coupon payment on a yuan bond for the first time, signalling escalating financial troubles for the company, Bloomberg reported.<o:p></o:p>

According to sources familiar with the matter, Country Garden's primary onshore unit missed a 96 million yuan ($13 million) coupon payment due on Tuesday for a 4.8 per cent yuan bond maturing in 2026. <o:p></o:p>

Despite a 30-day grace period for payment, concerns about potential default loom large for the embattled developer.<o:p></o:p>

The missed payment comes amidst Country Garden's ongoing financial crisis, compounded by a lawsuit filed seeking the company's liquidation offshore. <o:p></o:p>

The company's woes intensified when a Hong Kong court received a petition from a creditor to wind up the Guangdong-based firm.<o:p></o:p>

Country Garden's financial woes are reflected in its dwindling sales figures. <o:p></o:p>

Corporate filings reveal an 85 per cent plunge in contract sales for February compared to the previous year, following a 75 per cent decline in January.<o:p></o:p>

The developer's inability to meet its financial obligations is exacerbating concerns among homebuyers in China, who are now apprehensive about investing in projects by defaulted developers.<o:p></o:p>

Amidst the turmoil, attention is shifting to China Vanke Co., another major builder backed by the state, which is engaged in talks with creditors to avert a potential default.<o:p></o:p>

(With inputs from Bloomberg)<o:p></o:p>

Country Garden Holdings Co, a major Chinese property developer, has failed to make a coupon payment on a yuan bond for the first time, signalling escalating financial troubles for the company, Bloomberg reported.

Country Garden Holdings Co, a major Chinese property developer, has failed to make a coupon payment on a yuan bond for the first time, signalling escalating financial troubles for the company, Bloomberg reported. According to sources familiar with the matter, Country Garden's primary onshore unit missed a 96 million yuan ($13 million) coupon payment due on Tuesday for a 4.8 per cent yuan bond maturing in 2026. Despite a 30-day grace period for payment, concerns about potential default loom large for the embattled developer. The missed payment comes amidst Country Garden's ongoing financial crisis, compounded by a lawsuit filed seeking the company's liquidation offshore. The company's woes intensified when a Hong Kong court received a petition from a creditor to wind up the Guangdong-based firm. Country Garden's financial woes are reflected in its dwindling sales figures. Corporate filings reveal an 85 per cent plunge in contract sales for February compared to the previous year, following a 75 per cent decline in January. The developer's inability to meet its financial obligations is exacerbating concerns among homebuyers in China, who are now apprehensive about investing in projects by defaulted developers. Amidst the turmoil, attention is shifting to China Vanke Co., another major builder backed by the state, which is engaged in talks with creditors to avert a potential default. (With inputs from Bloomberg)

China's Country Garden defaults on yuan bond coupon payment for first time

India's Consumer Price Index (CPI) remained unchanged in February, registering a 5.09 per cent inflation rate, mirroring the previous month's figure of 5.1 per cent. <o:p></o:p>

Analysts had anticipated this stability, with a Bloomberg poll projecting a CPI of 5.05 per cent for February.<o:p></o:p>

While the headline inflation remains above the Reserve Bank of India's (RBI) target of 4 per cent, core inflation, which excludes food and fuel components, has declined to 3.37 per cent. <o:p></o:p>

This marks the lowest core inflation level since November 2019, indicating a lack of overheating in the Indian economy.<o:p></o:p>

Despite the overall stability, food inflation experienced a slight uptick from 8.3 per cent in January to 8.6 per cent in February. <o:p></o:p>

Notably, prices of eggs, fish, and meat witnessed a sharp increase, contributing to this rise in food inflation.<o:p></o:p>

Additionally, vegetable inflation rose from 27.1 per cent in January to 30.3 per cent in February, reflecting ongoing supply-side challenges.<o:p></o:p>

However, the future trajectory of inflation, particularly for cereals and pulses, hinges on the winter crop harvest. <o:p></o:p>

Reports suggest that recent rains in parts of north and northwest India, driven by western disturbances, may have resulted in crop damage, influencing future price dynamics.<o:p></o:p>

In other economic indicators, the Index of Industrial Production (IIP) for January fell slightly below analyst expectations, growing at 3.8 per cent. This marks a growth from the 5.8 per cent recorded in January 2023, according to data released by the National Statistics Office (NSO).<o:p></o:p>

Manufacturing, the dominant component of the IIP basket, expanded at a slower rate of 3.2 per cent compared to December 2023. This comes at a slightly lower than the 4.5 per cent growth seen in the same month of the previous year.<o:p></o:p>

Despite this, caution is warranted in interpreting this as a significant decline in economic momentum, as other indicators like the Purchasing Managers’ Index (PMI) suggest continued expansion.<o:p></o:p>

(With inputs from PTI)<o:p></o:p>

India's Consumer Price Index (CPI) remained unchanged in February, registering a 5.09 per cent inflation rate, mirroring the previous month's figure of 5.1 per cent.

India's Consumer Price Index (CPI) remained unchanged in February, registering a 5.09 per cent inflation rate, mirroring the previous month's figure of 5.1 per cent. Analysts had anticipated this stability, with a Bloomberg poll projecting a CPI of 5.05 per cent for February. While the headline inflation remains above the Reserve Bank of India's (RBI) target of 4 per cent, core inflation, which excludes food and fuel components, has declined to 3.37 per cent. This marks the lowest core inflation level since November 2019, indicating a lack of overheating in the Indian economy. Despite the overall stability, food inflation experienced a slight uptick from 8.3 per cent in January to 8.6 per cent in February. Notably, prices of eggs, fish, and meat witnessed a sharp increase, contributing to this rise in food inflation. Additionally, vegetable inflation rose from 27.1 per cent in January to 30.3 per cent in February, reflecting ongoing supply-side challenges. However, the future trajectory of inflation, particularly for cereals and pulses, hinges on the winter crop harvest. Reports suggest that recent rains in parts of north and northwest India, driven by western disturbances, may have resulted in crop damage, influencing future price dynamics. In other economic indicators, the Index of Industrial Production (IIP) for January fell slightly below analyst expectations, growing at 3.8 per cent. This marks a growth from the 5.8 per cent recorded in January 2023, according to data released by the National Statistics Office (NSO). Manufacturing, the dominant component of the IIP basket, expanded at a slower rate of 3.2 per cent compared to December 2023. This comes at a slightly lower than the 4.5 per cent growth seen in the same month of the previous year. Despite this, caution is warranted in interpreting this as a significant decline in economic momentum, as other indicators like the Purchasing Managers’ Index (PMI) suggest continued expansion. (With inputs from PTI)

India's inflation holds steady in February at 5.09 pc, core inflation declines

Meta Platforms Inc., the parent company of Facebook, has initiated legal proceedings against its former Vice President of Infrastructure, Dipinder Singh Khurana, accusing him of betraying the company's trust by allegedly stealing confidential documents before joining a "stealth" AI cloud computing startup.<o:p></o:p>

According to the lawsuit filed on February 29 in a California state court, Khurana, who had a 12-year tenure at Meta, purportedly breached his contract and engaged in what Meta describes as "brazenly disloyal" conduct. <o:p></o:p>

Meta asserts that Khurana transferred a significant amount of proprietary, confidential, and non-public documents pertaining to Meta's business operations and personnel to his personal Google Drive and Dropbox accounts just prior to his departure from the company.<o:p></o:p>

The lawsuit further alleges that Khurana's actions led to at least eight employees, mentioned in the pilfered documents, leaving Meta to join Khurana's new venture. <o:p></o:p>

Meta condemns Khurana's conduct, stating it demonstrates a blatant disregard for his contractual and legal obligations. <o:p></o:p>

A Meta spokesperson said that the company is committed to safeguarding confidential business and employee information, indicating that Meta is in all means viewing the misconduct seriously.<o:p></o:p>

This legal action against Khurana echoes a broader trend among major tech corporations to protect their intellectual property rights. <o:p></o:p>

Earlier this month, Google engineer Linwei Ding faced indictment for allegedly stealing over 500 confidential files containing AI trade secrets from the company.<o:p></o:p>

(With inputs from Bloomberg)<o:p></o:p>

Meta Platforms Inc., the parent company of Facebook, has initiated legal proceedings against its former Vice President of Infrastructure, Dipinder Singh Khurana, accusing him of betraying the company's trust by allegedly stealing confidential documents before joining a "stealth" AI cloud computing startup.

Meta Platforms Inc., the parent company of Facebook, has initiated legal proceedings against its former Vice President of Infrastructure, Dipinder Singh Khurana, accusing him of betraying the company's trust by allegedly stealing confidential documents before joining a "stealth" AI cloud computing startup. According to the lawsuit filed on February 29 in a California state court, Khurana, who had a 12-year tenure at Meta, purportedly breached his contract and engaged in what Meta describes as "brazenly disloyal" conduct. Meta asserts that Khurana transferred a significant amount of proprietary, confidential, and non-public documents pertaining to Meta's business operations and personnel to his personal Google Drive and Dropbox accounts just prior to his departure from the company. The lawsuit further alleges that Khurana's actions led to at least eight employees, mentioned in the pilfered documents, leaving Meta to join Khurana's new venture. Meta condemns Khurana's conduct, stating it demonstrates a blatant disregard for his contractual and legal obligations. A Meta spokesperson said that the company is committed to safeguarding confidential business and employee information, indicating that Meta is in all means viewing the misconduct seriously. This legal action against Khurana echoes a broader trend among major tech corporations to protect their intellectual property rights. Earlier this month, Google engineer Linwei Ding faced indictment for allegedly stealing over 500 confidential files containing AI trade secrets from the company. (With inputs from Bloomberg)

Meta takes legal action against former executive for alleged document theft

The United Kingdom has forged a significant partnership with Texas, the second-largest state in the US, aimed at fostering collaboration in green energy, aerospace, and advanced technologies. 

This non-binding memorandum of understanding (MoU) marks the eighth agreement between the UK and a US state post-Brexit, with a combined gross domestic product totalling £5.3 trillion ($6.8 trillion), equivalent to a quarter of the US economy.<o:p></o:p>

According to the UK's trade department, the MoU will facilitate mutual recognition of engineering qualifications, streamlining talent acquisition for British infrastructure projects. 

Additionally, it aligns with similar agreements previously established between Texas and the UK, particularly regarding mutual recognition of architects.<o:p></o:p>

The agreement also aims to simplify business operations for companies in sectors the UK is actively expanding into, such as hydrogen and carbon capture. 

This initiative is an attempt to address trade barriers, promote investment, and stimulate commerce between the UK and Texas, as emphasised by the trade department.<o:p></o:p>

While the deal signifies a step forward in UK-US trade relations, it falls short of a comprehensive Free Trade Agreement (FTA) that Brexit supporters had anticipated. 

President Joe Biden's administration withdrew the possibility of a federal-level FTA last year, prompting the UK to pursue bilateral agreements with individual states and focus on specific sectors like critical minerals.<o:p></o:p>

Bloomberg cited Texas Governor Greg Abbott who expressed enthusiasm about the pact, highlighting the economic significance of the UK as Texas' ninth-largest trade partner. 

Abbott emphasised that the MoU would bolster economic growth on both sides of the Atlantic.<o:p></o:p>

In response, UK Business and Trade Secretary Kemi Badenoch lauded the collaboration with Texas as a testament to the effectiveness of the UK's state-level strategy. Badenoch stressed that the agreement highlighted the tangible benefits accruing to British businesses through strategic partnerships.<o:p></o:p>

(With inputs from Bloomberg)<o:p></o:p>

The United Kingdom has forged a significant partnership with Texas, the second-largest state in the US, aimed at fostering collaboration in green energy, aerospace, and advanced technologies.

The United Kingdom has forged a significant partnership with Texas, the second-largest state in the US, aimed at fostering collaboration in green energy, aerospace, and advanced technologies. This non-binding memorandum of understanding (MoU) marks the eighth agreement between the UK and a US state post-Brexit, with a combined gross domestic product totalling £5.3 trillion ($6.8 trillion), equivalent to a quarter of the US economy. According to the UK's trade department, the MoU will facilitate mutual recognition of engineering qualifications, streamlining talent acquisition for British infrastructure projects. Additionally, it aligns with similar agreements previously established between Texas and the UK, particularly regarding mutual recognition of architects. The agreement also aims to simplify business operations for companies in sectors the UK is actively expanding into, such as hydrogen and carbon capture. This initiative is an attempt to address trade barriers, promote investment, and stimulate commerce between the UK and Texas, as emphasised by the trade department. While the deal signifies a step forward in UK-US trade relations, it falls short of a comprehensive Free Trade Agreement (FTA) that Brexit supporters had anticipated. President Joe Biden's administration withdrew the possibility of a federal-level FTA last year, prompting the UK to pursue bilateral agreements with individual states and focus on specific sectors like critical minerals. Bloomberg cited Texas Governor Greg Abbott who expressed enthusiasm about the pact, highlighting the economic significance of the UK as Texas' ninth-largest trade partner. Abbott emphasised that the MoU would bolster economic growth on both sides of the Atlantic. In response, UK Business and Trade Secretary Kemi Badenoch lauded the collaboration with Texas as a testament to the effectiveness of the UK's state-level strategy. Badenoch stressed that the agreement highlighted the tangible benefits accruing to British businesses through strategic partnerships. (With inputs from Bloomberg)

UK inks trade pact with Texas to drive green industry collaboration

Corporate dividends worldwide reached an unprecedented high of $1.66 trillion in 2023, according to reports from British asset manager Janus Henderson released on Wednesday.<o:p></o:p>

The surge, driven largely by the banking sector, reflects a 5 per cent increase year-on-year, showcasing the strength of global shareholder payouts.<o:p></o:p>

Banks capitalised on surging profits, particularly as high interest rates bolstered margins. <o:p></o:p>

Major players such as JPMorgan Chase, Wells Fargo, and Morgan Stanley announced plans to increase quarterly dividends following the Federal Reserve's stress test clearance.<o:p></o:p>

"Corporate cash flow in most sectors remained strong and this provided plenty of firepower for dividends and share buybacks," Reuters quoted Ben Lofthouse, head of global equity income at Janus Henderson as saying.<o:p></o:p>

Despite the banking sector's remarkable performance, the mining industry saw substantial dividend cuts from prominent companies such as BHP, Petrobras, Rio Tinto, Intel, and AT&amp;T. <o:p></o:p>

These cuts diluted the global underlying growth rate by two percentage points, underscoring the sectoral nuances within the broader economic landscape.<o:p></o:p>

Janus Henderson's report also highlights the role played by Europe in driving global dividend growth. <o:p></o:p>

Europe, excluding the UK, experienced a notable 10.4 per cent increase in payouts on an underlying basis, positioning the region as a key engine of growth. <o:p></o:p>

Additionally, several countries, including the US, France, Germany, Italy, Canada, Mexico, and Indonesia, witnessed record dividend payouts in 2023.<o:p></o:p>

Looking ahead, Janus Henderson anticipates continued growth in corporate dividends, projecting a total of $1.72 trillion for 2024, with underlying growth estimated at 5 per cent. <o:p></o:p>

While the rapid increase in banking dividends may taper off, sectors like energy and defence are expected to maintain steady progress, contributing to sustained shareholder payouts.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

Corporate dividends worldwide reached an unprecedented high of $1.66 trillion in 2023, according to reports from British asset manager Janus Henderson released on Wednesday.

Corporate dividends worldwide reached an unprecedented high of $1.66 trillion in 2023, according to reports from British asset manager Janus Henderson released on Wednesday. The surge, driven largely by the banking sector, reflects a 5 per cent increase year-on-year, showcasing the strength of global shareholder payouts. Banks capitalised on surging profits, particularly as high interest rates bolstered margins. Major players such as JPMorgan Chase, Wells Fargo, and Morgan Stanley announced plans to increase quarterly dividends following the Federal Reserve's stress test clearance. "Corporate cash flow in most sectors remained strong and this provided plenty of firepower for dividends and share buybacks," Reuters quoted Ben Lofthouse, head of global equity income at Janus Henderson as saying. Despite the banking sector's remarkable performance, the mining industry saw substantial dividend cuts from prominent companies such as BHP, Petrobras, Rio Tinto, Intel, and AT&T. These cuts diluted the global underlying growth rate by two percentage points, underscoring the sectoral nuances within the broader economic landscape. Janus Henderson's report also highlights the role played by Europe in driving global dividend growth. Europe, excluding the UK, experienced a notable 10.4 per cent increase in payouts on an underlying basis, positioning the region as a key engine of growth. Additionally, several countries, including the US, France, Germany, Italy, Canada, Mexico, and Indonesia, witnessed record dividend payouts in 2023. Looking ahead, Janus Henderson anticipates continued growth in corporate dividends, projecting a total of $1.72 trillion for 2024, with underlying growth estimated at 5 per cent. While the rapid increase in banking dividends may taper off, sectors like energy and defence are expected to maintain steady progress, contributing to sustained shareholder payouts. (With inputs from Reuters)

Global dividend payouts soar to record high of $1.66 tn in 2023, led by banking sector

The Indian stock market witnessed a significant downturn on Wednesday, with the Sensex plummeting over 900 points and slipping below the crucial 73,000-level. <o:p></o:p>

This sharp decline was mirrored by the Nifty, which also experienced a notable drop below 22,000. <o:p></o:p>

However, the brunt of the market turmoil was felt in the smaller stocks segment, with the smallcap index witnessing its worst single-day fall since December 2022, losing over 5 per cent of its value. <o:p></o:p>

Midcaps and microcaps followed suit, shedding 4 per cent and 6 per cent respectively. <o:p></o:p>

The collective impact saw a staggering ₹14 lakh crore being wiped off the market capitalisation of all BSE-listed stocks, which now stands at ₹372 lakh crore. <o:p></o:p>

Analysts have been quick to point out that the recent downturn in the stock market defies the global trade setup, particularly with the S&amp;P500 hitting a record high overnight. <o:p></o:p>

With $3 billion invested so far this month, Foreign Institutional Investors (FIIs) have also demonstrated their faith in the Indian market.

Hence, the root cause of the market turmoil appears to be more domestic in nature, driven by internal factors rather than external influences. <o:p></o:p>

Sebi's recent stress test could be identified as a significant trigger for the market crash, according to Madhabi Puri Buch, the chairperson of the market regulator. <o:p></o:p>

Buch's warning about the presence of froth in certain segments of the market, particularly in smallcaps and midcaps, has raised concerns among investors. <o:p></o:p>

This cautionary stance by Sebi has prompted actions from market participants, with ICICI Prudential Mutual Fund temporarily halting fresh subscriptions via lumpsum mode to smallcap and midcap funds. <o:p></o:p>

Furthermore, valuation concerns have been brewing in the smallcap space for some time, with excessive valuations being driven by the irrational exuberance of retail investors. <o:p></o:p>

Sebi's statement that valuation parameters are disconnected from fundamentals has underscored these apprehensions, leading to a corrective phase in the market. <o:p></o:p>

Additionally, as per a report by the Economic Times, the recent crackdown by the Enforcement Directorate (ED) on the Mahadev Online Book illegal betting app scam has unearthed a link to the stock market bubble, further exacerbating investor jitters. <o:p></o:p>

In response to the market downturn and regulatory warnings, stockbrokers have begun advising traders to liquidate their leveraged bets in mid and smallcaps. <o:p></o:p>

This move aims to mitigate risks amid the heightened volatility in the market. <o:p></o:p>

Moreover, with the financial year end approaching, investors are engaging in profit booking and loss harvesting activities to optimise their portfolios for tax purposes. <o:p></o:p>

These strategic manoeuvres are contributing to the ongoing reshuffling of investment positions, adding to the market turbulence. <o:p></o:p>

From a technical standpoint, the market sentiment remains bearish, with indicators suggesting a continuation of the downward trend. <o:p></o:p>

Nifty's formation of a long-legged Doji candle, coupled with the persistence of the bearish evening star pattern, reflects the prevailing uncertainty among investors. <o:p></o:p>

Additionally, on the derivatives front, bearish sentiments have been observed, with sectors witnessing either short build-up or long unwinding activities. <o:p></o:p>

The Indian stock market witnessed a significant downturn on Wednesday, with the Sensex plummeting over 900 points and slipping below the crucial 73,000-level. This sharp decline was mirrored by the Nifty, which also experienced a notable drop below 22,000.

The Indian stock market witnessed a significant downturn on Wednesday, with the Sensex plummeting over 900 points and slipping below the crucial 73,000-level. This sharp decline was mirrored by the Nifty, which also experienced a notable drop below 22,000. However, the brunt of the market turmoil was felt in the smaller stocks segment, with the smallcap index witnessing its worst single-day fall since December 2022, losing over 5 per cent of its value. Midcaps and microcaps followed suit, shedding 4 per cent and 6 per cent respectively. The collective impact saw a staggering ₹14 lakh crore being wiped off the market capitalisation of all BSE-listed stocks, which now stands at ₹372 lakh crore. Analysts have been quick to point out that the recent downturn in the stock market defies the global trade setup, particularly with the S&P500 hitting a record high overnight. With $3 billion invested so far this month, Foreign Institutional Investors (FIIs) have also demonstrated their faith in the Indian market. Hence, the root cause of the market turmoil appears to be more domestic in nature, driven by internal factors rather than external influences. Sebi's recent stress test could be identified as a significant trigger for the market crash, according to Madhabi Puri Buch, the chairperson of the market regulator. Buch's warning about the presence of froth in certain segments of the market, particularly in smallcaps and midcaps, has raised concerns among investors. This cautionary stance by Sebi has prompted actions from market participants, with ICICI Prudential Mutual Fund temporarily halting fresh subscriptions via lumpsum mode to smallcap and midcap funds. Furthermore, valuation concerns have been brewing in the smallcap space for some time, with excessive valuations being driven by the irrational exuberance of retail investors. Sebi's statement that valuation parameters are disconnected from fundamentals has underscored these apprehensions, leading to a corrective phase in the market. Additionally, as per a report by the Economic Times, the recent crackdown by the Enforcement Directorate (ED) on the Mahadev Online Book illegal betting app scam has unearthed a link to the stock market bubble, further exacerbating investor jitters. In response to the market downturn and regulatory warnings, stockbrokers have begun advising traders to liquidate their leveraged bets in mid and smallcaps. This move aims to mitigate risks amid the heightened volatility in the market. Moreover, with the financial year end approaching, investors are engaging in profit booking and loss harvesting activities to optimise their portfolios for tax purposes. These strategic manoeuvres are contributing to the ongoing reshuffling of investment positions, adding to the market turbulence. From a technical standpoint, the market sentiment remains bearish, with indicators suggesting a continuation of the downward trend. Nifty's formation of a long-legged Doji candle, coupled with the persistence of the bearish evening star pattern, reflects the prevailing uncertainty among investors. Additionally, on the derivatives front, bearish sentiments have been observed, with sectors witnessing either short build-up or long unwinding activities.

Sensex plummets over 900 points, wiping out ₹14 lakh crore amid smallcap bubble fears

WION's Business Desk brings you this daily round-up of global stories from the world of business and economy.

Global dividend payouts soar to record high of $1.66 tn in 2023, led by banking sector<o:p></o:p>

Corporate dividends worldwide reached an unprecedented high of $1.66 trillion in 2023, according to reports from British asset manager Janus Henderson released on Wednesday.

<a href="https://www.wionews.com/business-economy/global-dividend-payouts-soar-to-record-high-of-166-tn-in-2023-led-by-banking-sector-699559">Read more here</a><o:p></o:p>

UK inks trade pact with Texas to drive green industry collaboration<o:p></o:p>

The United Kingdom has forged a significant partnership with Texas, the second-largest state in the US, aimed at fostering collaboration in green energy, aerospace, and advanced technologies.

<a href="https://www.wionews.com/business-economy/uk-inks-trade-pact-with-texas-to-drive-green-industry-collaboration-699563">Read more here</a><o:p></o:p>

Meta takes legal action against former executive for alleged document theft<o:p></o:p>

Meta Platforms Inc., the parent company of Facebook, has initiated legal proceedings against its former Vice President of Infrastructure, Dipinder Singh Khurana, accusing him of betraying the company's trust by allegedly stealing confidential documents before joining a "stealth" AI cloud computing startup.

<a href="https://www.wionews.com/business-economy/meta-takes-legal-action-against-former-executive-for-alleged-document-theft-699566">Read more here</a><o:p></o:p>

India's inflation holds steady in February at 5.09 pc, core inflation declines<o:p></o:p>

India's Consumer Price Index (CPI) remained unchanged in February, registering a 5.09 per cent inflation rate, mirroring the previous month's figure of 5.1 per cent.

<a href="https://www.wionews.com/business-economy/indias-inflation-holds-steady-in-february-at-509-pc-core-inflation-declines-699589">Read more here</a><o:p></o:p>

China's Country Garden defaults on yuan bond coupon payment for first time <o:p></o:p>

Country Garden Holdings Co, a major Chinese property developer, has failed to make a coupon payment on a yuan bond for the first time, signalling escalating financial troubles for the company.

<a href="https://www.wionews.com/business-economy/chinas-country-garden-defaults-on-yuan-bond-coupon-payment-for-first-time-699623">Read more here</a><o:p></o:p>

NCLAT upholds Jet Airways' transfer to Jalan Kalrock Consortium, revival in sight<o:p></o:p>

Jet Airways sees a glimmer of hope as the National Company Law Appellate Tribunal (NCLAT) directs the transfer of the bankrupt airline's ownership to the Jalan Kalrock Consortium (JKC) within 90 days.

<a href="https://www.wionews.com/business-economy/nclat-upholds-jet-airways-transfer-to-jalan-kalrock-consortium-revival-in-sight-699642">Read more here</a><o:p></o:p>

PwC Australia implements further job cuts amid restructuring following scandal<o:p></o:p>

PwC Australia announced on Wednesday that it would undertake further job cuts, totalling an additional 329 positions, as part of a significant restructuring effort following a national scandal.

<a href="https://www.wionews.com/business-economy/pwc-australia-implements-further-job-cuts-amid-restructuring-following-scandal-699640">Read more here</a><o:p></o:p>

UNICEF warns of alarming rise in child poverty in Argentina<o:p></o:p>

UNICEF has issued a stark warning about the dire trajectory of child poverty in Argentina, cautioning that without a change in course, the country's child poverty rate could soar to 70 per cent in the first quarter of this year.

<a href="https://www.wionews.com/business-economy/unicef-warns-of-alarming-rise-in-child-poverty-in-argentina-699645">Read more here</a><o:p></o:p>

ITC shares surge after block trade, while BAT plans to reduce stake<o:p></o:p>

ITC, one of India's prominent cigarette manufacturers, experienced a surge in its shares, rising over 8 per cent on Wednesday.

<a href="https://www.wionews.com/business-economy/itc-shares-surge-after-block-trade-after-bat-announces-plans-to-reduce-stake-699658">Read more here</a><o:p></o:p>

SBI complies with Supreme Court order, submits electoral bonds data to ECI<o:p></o:p>

Following the Supreme Court's directives, the State Bank of India (SBI) has provided detailed information regarding the purchase and redemption of electoral bonds to the Election Commission of India (ECI).

<a href="https://www.wionews.com/business-economy/sbi-complies-with-supreme-court-directive-submits-electoral-bonds-data-to-election-commission-699652">Read more here</a><o:p></o:p>

Global trade disrupted by Red Sea attacks and Panama Canal drought: IMF<o:p></o:p>

Recent attacks on vessels in the Red Sea region and a severe drought at the Panama Canal have disrupted global trade, causing significant slowdowns and redirections in maritime traffic, according to the IMF.

<a href="https://www.wionews.com/business-economy/global-trade-disrupted-by-red-sea-attacks-and-panama-canal-drought-imf-699672">Read more here</a> <o:p></o:p>

WION's Business Desk brings you this daily round-up of global stories from the world of business and economy. Global dividend payouts soar to record high of $1.66 tn in 2023, led by banking sector Corporate dividends worldwide reached an unprecedented high of $1.

WION's Business Desk brings you this daily round-up of global stories from the world of business and economy. Global dividend payouts soar to record high of $1.66 tn in 2023, led by banking sector Corporate dividends worldwide reached an unprecedented high of $1.66 trillion in 2023, according to reports from British asset manager Janus Henderson released on Wednesday. Read more here UK inks trade pact with Texas to drive green industry collaboration The United Kingdom has forged a significant partnership with Texas, the second-largest state in the US, aimed at fostering collaboration in green energy, aerospace, and advanced technologies. Read more here Meta takes legal action against former executive for alleged document theft Meta Platforms Inc., the parent company of Facebook, has initiated legal proceedings against its former Vice President of Infrastructure, Dipinder Singh Khurana, accusing him of betraying the company's trust by allegedly stealing confidential documents before joining a "stealth" AI cloud computing startup. Read more here India's inflation holds steady in February at 5.09 pc, core inflation declines India's Consumer Price Index (CPI) remained unchanged in February, registering a 5.09 per cent inflation rate, mirroring the previous month's figure of 5.1 per cent. Read more here China's Country Garden defaults on yuan bond coupon payment for first time Country Garden Holdings Co, a major Chinese property developer, has failed to make a coupon payment on a yuan bond for the first time, signalling escalating financial troubles for the company. Read more here NCLAT upholds Jet Airways' transfer to Jalan Kalrock Consortium, revival in sight Jet Airways sees a glimmer of hope as the National Company Law Appellate Tribunal (NCLAT) directs the transfer of the bankrupt airline's ownership to the Jalan Kalrock Consortium (JKC) within 90 days. Read more here PwC Australia implements further job cuts amid restructuring following scandal PwC Australia announced on Wednesday that it would undertake further job cuts, totalling an additional 329 positions, as part of a significant restructuring effort following a national scandal. Read more here UNICEF warns of alarming rise in child poverty in Argentina UNICEF has issued a stark warning about the dire trajectory of child poverty in Argentina, cautioning that without a change in course, the country's child poverty rate could soar to 70 per cent in the first quarter of this year. Read more here ITC shares surge after block trade, while BAT plans to reduce stake ITC, one of India's prominent cigarette manufacturers, experienced a surge in its shares, rising over 8 per cent on Wednesday. Read more here SBI complies with Supreme Court order, submits electoral bonds data to ECI Following the Supreme Court's directives, the State Bank of India (SBI) has provided detailed information regarding the purchase and redemption of electoral bonds to the Election Commission of India (ECI). Read more here Global trade disrupted by Red Sea attacks and Panama Canal drought: IMF Recent attacks on vessels in the Red Sea region and a severe drought at the Panama Canal have disrupted global trade, causing significant slowdowns and redirections in maritime traffic, according to the IMF. Read more here

WION Business Wrap | UK’s green industry collaboration, Meta sues former executive and more

Recent attacks on vessels in the Red Sea region and a severe drought at the Panama Canal have disrupted global trade, causing significant slowdowns and redirections in maritime traffic, according to the IMF.

These disruptions have led to longer delivery times and increased shipping costs, affecting companies worldwide.

According to data from the IMF's PortWatch platform, trade volume through critical shipping lanes has been notably impacted, posing challenges to supply chains and economic activities.

The attacks on vessels in the Red Sea area have affected traffic through the Suez Canal, a crucial maritime route linking Asia and Europe.

With about 15 per cent of global maritime trade typically passing through this route, the disruptions have forced several shipping companies to divert their vessels around the Cape of Good Hope, resulting in extended delivery times by an average of 10 days or more.

This redirection has particularly hurt companies with limited inventories, exacerbating supply chain challenges.

Simultaneously, the Panama Canal has faced challenges due to a severe drought, prompting authorities to impose restrictions that have significantly reduced daily ship crossings since October last year.

This slowdown in maritime trade through another vital chokepoint, responsible for about 5 per cent of global maritime trade, has further compounded the disruptions in global trade routes.

These developments have caused concerns over prolonged supply chain disruptions and inflationary pressures, as shipping costs surge amidst longer transit times.

Data from the IMF's PortWatch platform reveals major shifts in trade volume across critical shipping lanes.

The volume of trade passing through the Suez Canal witnessed a staggering 50 per cent year-over-year decline in the first two months of the year, while trade transiting around the Cape of Good Hope surged by an estimated 74 percent above last year's levels.

Additionally, transit trade volume through the Panama Canal experienced a nearly 32 per cent drop compared to the previous year, indicating the scale of disruption faced by global trade routes.

The impact of these disruptions extends beyond delays in delivery times and increased shipping costs.

The decline in port calls to key regions, such as sub-Saharan Africa, the European Union, and the Middle East, reflects the transitory effects of longer shipping times.

This, coupled with potential delays in recording imports and exports due to rerouted shipments, complicates efforts to gauge the true momentum of global trade and economic activity.

Such challenges may lead to distortions in official statistics on recorded imports and exports, affecting assessments of economic performance and fiscal revenues for affected countries.

Recent attacks on vessels in the Red Sea region and a severe drought at the Panama Canal have disrupted global trade, causing significant slowdowns and redirections in maritime traffic, according to the IMF.

Recent attacks on vessels in the Red Sea region and a severe drought at the Panama Canal have disrupted global trade, causing significant slowdowns and redirections in maritime traffic, according to the IMF. These disruptions have led to longer delivery times and increased shipping costs, affecting companies worldwide. According to data from the IMF's PortWatch platform, trade volume through critical shipping lanes has been notably impacted, posing challenges to supply chains and economic activities. The attacks on vessels in the Red Sea area have affected traffic through the Suez Canal, a crucial maritime route linking Asia and Europe. With about 15 per cent of global maritime trade typically passing through this route, the disruptions have forced several shipping companies to divert their vessels around the Cape of Good Hope, resulting in extended delivery times by an average of 10 days or more. This redirection has particularly hurt companies with limited inventories, exacerbating supply chain challenges. Simultaneously, the Panama Canal has faced challenges due to a severe drought, prompting authorities to impose restrictions that have significantly reduced daily ship crossings since October last year. This slowdown in maritime trade through another vital chokepoint, responsible for about 5 per cent of global maritime trade, has further compounded the disruptions in global trade routes. These developments have caused concerns over prolonged supply chain disruptions and inflationary pressures, as shipping costs surge amidst longer transit times. Data from the IMF's PortWatch platform reveals major shifts in trade volume across critical shipping lanes. The volume of trade passing through the Suez Canal witnessed a staggering 50 per cent year-over-year decline in the first two months of the year, while trade transiting around the Cape of Good Hope surged by an estimated 74 percent above last year's levels. Additionally, transit trade volume through the Panama Canal experienced a nearly 32 per cent drop compared to the previous year, indicating the scale of disruption faced by global trade routes. The impact of these disruptions extends beyond delays in delivery times and increased shipping costs. The decline in port calls to key regions, such as sub-Saharan Africa, the European Union, and the Middle East, reflects the transitory effects of longer shipping times. This, coupled with potential delays in recording imports and exports due to rerouted shipments, complicates efforts to gauge the true momentum of global trade and economic activity. Such challenges may lead to distortions in official statistics on recorded imports and exports, affecting assessments of economic performance and fiscal revenues for affected countries.

Global trade disrupted by Red Sea attacks and Panama Canal drought: IMF

Following the Supreme Court's directives, the State Bank of India (SBI) has provided detailed information regarding the purchase and redemption of electoral bonds to the Election Commission of India (ECI).

The submission, made in response to the apex court's orders, includes crucial details such as the names of bond purchasers, dates of purchase, denominations, as well as information on political parties redeeming the bonds.

A report by the Indian Express cited an affidavit submitted by the SBI chairman.

Based on that, the bank has meticulously documented the transactional data concerning electoral bonds, ensuring compliance with the court's directives.

The information encompassed records of bond purchases and redemptions spanning from April 12, 2019, to February 15, 2024.

However, an oversight led to the inclusion of bonds purchased from April 1, 2019, in the data set, resulting in a total of 22,217 bonds being accounted for during this period.

This comprehensive dataset was handed over to the ECI in a password-protected format.

Despite the thorough submission, questions loom over the omission of the unique alphanumeric code associated with each electoral bond.

This code, plays a crucial role in mapping bond purchases to the political parties redeeming them.

The absence of this code raises concerns regarding transparency and accountability in electoral funding, as it inhibits the tracing of specific donations to their recipients.

The bank's explanation, citing the complexity of matching donor and redemption details stored in separate silos, fails to assuage these concerns.

In response to the SBI's submissions, the Supreme Court reiterated the importance of transparency and plain disclosure, emphasising that the ground for seeking an extension to disclose information does not align with the court's directives.

Chief Justice DY Chandrachud's remarks underscored the necessity for straightforward compliance with the court's orders, highlighting the significance of adhering to legal mandates in matters of electoral transparency.

Meanwhile, the Election Commission of India is set to embark on the task of compiling and publishing the electoral bonds data provided by the SBI.

This process, expected to be completed by March 15, will involve scrutinising the data to ensure its accuracy before making it publicly accessible on the commission's website.

<o:p></o:p>

Following the Supreme Court's directives, the State Bank of India (SBI) has provided detailed information regarding the purchase and redemption of electoral bonds to the Election Commission of India (ECI).

Following the Supreme Court's directives, the State Bank of India (SBI) has provided detailed information regarding the purchase and redemption of electoral bonds to the Election Commission of India (ECI). The submission, made in response to the apex court's orders, includes crucial details such as the names of bond purchasers, dates of purchase, denominations, as well as information on political parties redeeming the bonds. A report by the Indian Express cited an affidavit submitted by the SBI chairman. Based on that, the bank has meticulously documented the transactional data concerning electoral bonds, ensuring compliance with the court's directives. The information encompassed records of bond purchases and redemptions spanning from April 12, 2019, to February 15, 2024. However, an oversight led to the inclusion of bonds purchased from April 1, 2019, in the data set, resulting in a total of 22,217 bonds being accounted for during this period. This comprehensive dataset was handed over to the ECI in a password-protected format. Despite the thorough submission, questions loom over the omission of the unique alphanumeric code associated with each electoral bond. This code, plays a crucial role in mapping bond purchases to the political parties redeeming them. The absence of this code raises concerns regarding transparency and accountability in electoral funding, as it inhibits the tracing of specific donations to their recipients. The bank's explanation, citing the complexity of matching donor and redemption details stored in separate silos, fails to assuage these concerns. In response to the SBI's submissions, the Supreme Court reiterated the importance of transparency and plain disclosure, emphasising that the ground for seeking an extension to disclose information does not align with the court's directives. Chief Justice DY Chandrachud's remarks underscored the necessity for straightforward compliance with the court's orders, highlighting the significance of adhering to legal mandates in matters of electoral transparency. Meanwhile, the Election Commission of India is set to embark on the task of compiling and publishing the electoral bonds data provided by the SBI. This process, expected to be completed by March 15, will involve scrutinising the data to ensure its accuracy before making it publicly accessible on the commission's website.

SBI complies with Supreme Court order, submits electoral bonds data to ECI