As large-scale layoffs begin at Facebook's parent company Meta, employees on work visas such as H-1Bs are now faced with uncertainty over their immigration status, with CEO Mark Zuckerberg acknowledging "this is especially difficult if you're here on a visa" and offering support to those impacted. Meta announced that it is laying off 11,000 employees or 13 per cent of its workforce, with Zuckerberg describing it as "some of the most difficult changes we've made in Meta's history." US-based technology companies hire a large amount of H-1B workers, the majority of whom come from countries such as India.
Venture Intelligence data shows that during January to July 2020, investors infused $998 million in 31 deals. The total number of deals reported in 2019 was 42 worth $404 million.
The government is expected to defer the mega initial public offering (IPO) of LIC to the next financial year as the ongoing Russia-Ukraine war has dampened fund managers' interest in the public issue, market experts said on Sunday. The government was looking to sell 5 per cent stake in Life Insurance Corporation (LIC) this month, which could have fetched over Rs 60,000 crore to the exchequer. The IPO would have helped meet the curtailed divestment target of Rs 78,000 crore this fiscal.
IT services major Infosys on Wednesday announced a new programme, wherein it will offer 500 job seekers the opportunity to complete a fully digital, online diploma course certified by Salesforce. The programme aims to prepare Americans for 21st century careers in the technology sector. Leveraging Trailhead, Salesforce's free online learning platform, the program will train these 500 American workers, free of cost, for roles at Infosys as Salesforce Certified Administrators and Salesforce Industries Developers, a statement said. The programme, targeting recent graduates from major universities, liberal arts colleges, and community colleges, will help Infosys to create a workforce prepared for the future, it added.
A single application and a plethora of services for passenger cars - that is what myTVS, a brand that operates under Ki Mobility Solutions and is part of the TVS family, is set to bring to customers, in a bid to disrupt the concept of "super apps" in India. Starting July 15, myTVS will launch its connected car platform or super app called myTVS Life360 for aftermarket passenger cars. Through it, customers will be able to avail themselves of a range of services like maintenance, diagnostics, roadside assistance, accessories, payments, insurance, and so on.
Prime Minister Narendra Modi will launch the much-awaited 5G services in India on October 1, 2022, an official release said on Friday. According to the release, 5G to be launched by the Prime Minister in select cities, will progressively cover the entire country over the next couple of years. The cumulative economic impact of 5G on India is estimated to reach $450 billion by 2035. Capable of supporting ultra-high-speed internet services, the fifth generation or 5G is expected to unleash new economic opportunities and societal benefits, serving as a transformational force for Indian society.
Artificial Intelligence will create 2.3 million machine learning jobs by 2020.
The dinner Jill Biden and her husband US President Joe Biden hosted for Indian prime minister Narendra Modi, June 22, at the White House brought together, Indians and Americans from so many firmaments.
Ride-hailing platform Uber on Wednesday said it is recruiting close to 250 engineers for its teams in Bengaluru and Hyderabad as it continues to expand the scope of operations for its engineering and product work in the country. The current round of hiring will strengthen the company's rider and driver growth, delivery, eats, digital payments, risk and compliance, marketplace, customer obsession, infrastructure, adtech, data, safety and finance technology teams, a statement said. These roles are currently split between the company's Hyderabad and Bengaluru tech centres, it added.
It came as a surprise to all stakeholders - competing telecom companies (telcos), most analysts and even the government's internal projections on revenues from the 5G auctions. Reliance Jio disrupted all calculations by paying a stiff Rs 40,000 crore to buy 10 MHz of spectrum in the 700-MHz band, globally considered a key band for efficient 5G service coverage, along with the default 3.5 GHz band and the ultra-high speed and low-latency millimetre band of 26 GHz band. So what made Jio pay almost 45 per cent of its total spend in this auction for the 700 MHz band - much more than what it rustled up even for the 3.5 GHz band?
The National Stock Exchange (NSE), which is once again in the eye of a storm due to the co-location scandal, has said it has taken several transformational steps in the past few years on the regulatory, technological, and surveillance fronts to help improve stakeholder experience and to protect investors. Senior officials of the exchange briefed the media over the steps the exchange has taken on various fronts following changes at the helm with former managing director and chief executive officer Chitra Ramkrishna's ouster in December 2016. "Over the last few years, we have been looking to modernise and transform the entire value chain of technology.
Skylark Drones, a leading drone platform company that counts Tata Steel, Ultratech Cement, Softbank Energy among its customers has secured $3 million in a pre-series A funding round. It would use the funding to strengthen its product offerings and fuel international expansion.
As India builds its data centre capabilities, it is imperative that it is supported by green energy. This is because data centres are guzzlers of energy.
'As the demand for transferable skills that can be remotely applied increases, the need for tech-based courses is on the rise/'
Seven companies, including lifestyle retail brand FabIndia and specialty chemical company Aether Industries, have received capital markets regulator Sebi's go-ahead to raise funds through initial share sales. Syrma SGS Technology, Asianet Satellite Communications, Sanathan Textiles, Capillary Technologies India and Harsha Engineers International too received the watchdog's nod to float Initial Public Offerings (IPOs). These companies, which filed their preliminary IPO papers with Sebi during December 2021 and February 2022, obtained observations during April 27-30, an update with the regulator showed on Monday.
Exposure to debt funds and gold is essential even if current returns from these asset classes are low, suggests Sanjay Kumar Singh.
The government in January restarted the divestment process of Air India and invited bids for selling 100 per cent of its equity in the state-owned airline, including Air India's 100 per cent shareholding in AI Express Limited and 50 per cent in Air India SATS Airport Services Private Ltd.
Tata Sons has emerged as the top bidder for the takeover of debt-laden State-run airline Air India but the bid is yet to be approved by a group of ministers headed by Home Minister Amit Shah, sources said.
The ship will now arrive on August 16 and remain at the Hambantota port till August 22, they said.
By 2026, around 25 per cent of the global population may spend at least an hour a day on Metaverse. This will open the doors for many businesses, the NFTs market will spread, and Web 3.0 will attract more investment.
Akash Ambani's first big job as he takes over as chairman of Reliance Jio, the group's telecom arm, is a no-brainer - he has to get his company through the long-awaited 5G auctions that are a few weeks away. But his bigger job, analysts said, will be to lead the transformation of the telecom company into a tech giant, a process that is underway as it seeks to list in the US. Insiders said there has been plenty of debate within the company's top executives on the auction strategy.
The 2022-23 Budget has projected a disinvestment target of Rs 65,000 crore for next financial year. This is significantly lower than the estimated Rs 1.75 lakh crore budgeted for 2021-22. In the revised estimates, the target for 2021-22 has been cut to Rs 78,000 crore.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your income tax queries.
From omnichannel to AI and 3D technology, the fashion industry is in the middle of a digital revolution.
'Health will continue to be at the centre of the government's attention as it underpins economic recovery and our collective well being.'
The recent spate of technical glitches in aircraft has prompted the Directorate General of Civil Aviation (DGCA) to issue an order on July 18, making aircraft maintenance engineers (AMEs) with category B1/B2 licences the final authorities in certifying planes. This has put the spotlight on the availability of such personnel. According to the order, airlines were resorting to frequent one-off authorisation by the Category A certifying staff at transit stations, which is not in line with existing regulatory provisions.
"WhatsApp is an industry leader in preventing abuse, among end-to-end encrypted messaging services. Over the years, we have consistently invested in Artificial Intelligence and other state of the art technology, data scientists and experts, and in processes, in order to keep our users safe on our platform," a WhatsApp spokesperson said.
'Our sensors allow the missile to locate and identify the target even if it's on the move.'
From cloud computing to people analytics, most lucrative future jobs will be dominated by people with digital skills and expertise, explains Sarita Digumarti, chief learning officer, UNext Learning.
The government is ready to support Air India, but wants the airline to improve its performance.
A record GST tax collection, an overhaul of the income tax return filing portal and the landmark move to scrap retrospective taxation have set the stage for the next level of reforms in tax administration that include bringing a framework for cryptocurrencies and rationalising the GST rate structure. With tax reforms such as faceless assessment taking roots, 2021 will go down as the year that pivoted the tax administration in a country aspiring to become the world's favourite investment destination. The task ahead is going to be a tough one as the tax department would grapple with taxing cryptocurrencies, rationalising Goods and Services Tax (GST) rates to shore up revenues and post June 2022, the scenario of how the GST revenue plays out for states without the Centre's support of compensation.
From using Artificial Learning to Machine Learning to deploying drones food delivery platforms are going all out to reach the extra consumer, says Peerzada Abrar.
Cash-strapped Air India will have to raise Rs 8,165 crore (Rs 81.65 billion) out of its own resources or borrowings to fund its fleet acquisition programme as the Union Budget focused primarily on aviation infrastructure development, giving a total budgetary support of Rs 190 crore (Rs 1.9 billion).
Your high expectations and attachment to certain property can make you buy property which is not financially suitable.
The government has created a comprehensive budget with sharp focus on sustaining economic activity and investment but more clarity is needed on areas like taxation framework for adopting remote working on a long-term basis, IT body Nasscom said on Monday. The industry association noted that the IT/ITeS (Information Technology-enabled Services) industry has been a key driver of growth and jobs in 2020 and there is an opportunity to significantly accelerate it further. "For the IT sector, one of the biggest needs ahead of us is the development of future business models, with hybrid working becoming a reality. "We look forward for the government to provide clarity on providing a framework in direct taxes and indirect taxes for the industry to adopt WFH/remote working on a long-term basis," Nasscom said in a statement.
India's IT and business services market is expected to grow 5.4 per cent annually to reach $13 billion by December this year, research firm IDC said. The segment grew 5.3 per cent year-on-year (y-o-y) in January-June (H1) 2020 period as compared to 8.9 per cent growth in H1 2019, IDC said in a report. Of the IT and business services market, the IT services market contributed 77.4 per cent in H1 2020, growing 5.9 per cent y-o-y as compared to 9.3 per cent growth in the year-ago period.
'There were two options before the government -- create a complex, cumbersome law, which will cause a tremendous amount of compliance challenges for startups or say let's go back and do a clean slate, where we do a framework of laws and policies'
The government has notified the agreement between Air India and special purpose vehicle AIAHL for the transfer of non-core assets, ahead of the national airline's takeover by the Tata Group. The government had in October last year, inked the share purchase agreement with the Tata Group for the sale of national carrier Air India for Rs 18,000 crore. The Tata Group is expected to take full control of the airline, it founded in 1932, on Thursday. The cash component of the deal would come once the handover process is completed. The Tata Group would pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt.
Engineering product firms were among the first to embrace AI and machine learning. And the early adopters are reaping gains.
Rituparna Chakraborty, co-founder and EVP, TeamLease Services explains which sectors will contribute to India's growth story.
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