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The Karnataka government has put on hold the bill mandating reservations for locals in the private sector after backlash from the industry. "This will be reviewed and decided in the coming days," Karnataka CMO said. Earlier, National Association of Software and Service Companies (Nasscom) criticised the bill, stating it could force companies to relocate as local skilled talent becomes scarce.
short by Arshiya Chopra / 09:14 pm on 17 Jul
NASSCOM seeks urgent meeting with Karnataka private sector quota
short by System User / on 17 Jul 2024,Wednesday
In a recent development, Nasscom and its members have voiced deep concerns over the new bill. Nasscom fears that the bill's provisions, which mandate significant local quotas for jobs in the private sector, could lead to a scarcity of skilled talent. This, in turn, might compel companies to consider relocating to more favorable business environments.
short by System User / 03:16 pm on 17 Jul
From slums to billionaire, Dubai’s real estate tycoon shares story
short by System User / on 17 Jul 2024,Wednesday
Recently, on The Humans of Bombay podcast, Dubai's real estate tycoon Rizwan Sajan was seen talking about his journey from the slums of Mumbai to becoming one of the top 7 entrepreneurs in the UAE. From global trends in real estate to tips for entrepreneurs, he shared useful tips for aspiring entrepreneurs.
short by System User / 07:25 pm on 17 Jul
Hyderabad startup lets you co-own a property, makes ₹30 cr revenue
short by System User / on 17 Jul 2024,Wednesday
35-year-old Unnath Reddy left a ₹1 lakh/month sales head job to launch Fracspace, a Hyderabad-based prop-tech startup, in 2022. Fracspace offers co-owned real estate investments, making property ownership affordable for middle-class families. Starting with just ₹60,000, Unnath grew Fracspace to a ₹30 crore company, managing 23 properties and serving 200 customers globally.
short by System User / 02:40 pm on 17 Jul
How Trucknetic is organising India's $300 billion logistics sector
short by System User / on 17 Jul 2024,Wednesday
India's logistics market, set to reach $591 billion by FY27, has just 5.5-6% of organized players. Arham Pratap Jain saw it as an opportunity and founded Trucknetic, an Uber-like app for trucks. Inspired by his time at Ernst & Young, he organised the truck driver community, highlighting driver welfare. Trucknetic handles 2000 trips monthly, generating $2-2.5 million annually.
short by System User / 03:06 pm on 17 Jul
Pic shows plastic bottle, garbage on international Air India flight floor
short by Arshiya Chopra / on 17 Jul 2024,Wednesday
A picture showing discarded plastic bottle and garbage strewn across the floor of a Singapore-bound Air India flight has surfaced online. Several people reacted to the post, with a social media user saying, "Zero civic sense." "Airlines should fine such passengers on spot," another user commented on the picture.
short by Arshiya Chopra / 08:47 pm on 17 Jul
MoPSW secy seeks collaboration between state, central agencies
short by System User / on 17 Jul 2024,Wednesday
Ministry of Ports, Shipping and Waterways Secretary TK Ramachandran emphasized the need for collaboration between state and central agencies to develop India's maritime and waterways transport. At the State Maritime & Waterways Transport Committee meeting, he highlighted the importance of unified approach for sector integration, focusing on master plans, cruise tourism, urban water transport, etc.
short by System User / 02:31 pm on 17 Jul
MoD notifies PIL list: Top 3 shipping PSU stocks to watch
short by System User / on 17 Jul 2024,Wednesday
In a move that will give a further boost to the government's Aatmanirbhar Bharat Mission in defence and to minimise imports by central agencies, the Ministry of Defence has notified fifth positive indigenisation list (PIL) of 346 items. Defence PSUs will have to procure from Indian manufacturers. This move is positive for PSU shipping stocks: Cochin Shipyard, Mazagon Dock, GRSE.
short by System User / 02:40 pm on 17 Jul
Trade association National Association of Software and Service Companies (Nasscom) on Wednesday raised concerns over the Karnataka Bill on 100% private sector employment reservation for Kannadigas in 'C and D' grade posts. "It's deeply disturbing to see this kind of Bill," it said. "The restrictions could force companies to relocate as local skilled talent becomes scarce," it added.
short by Shreyasi Banerjee / 05:15 pm on 17 Jul
Billionaire Dell was once denied late check-out by Gurugram's Oberoi Hotel
short by Pragya Swastik / on 17 Jul 2024,Wednesday
Gurugram's 5-star Oberoi Hotel once denied late check-out to Dell's billionaire Chairman and CEO Michael Dell. "The receptionist at the front desk told Dell, 'Sir, check-out is till 12 pm. If you stay till 6 pm, it's a half-day charge, post 6 pm is full-day charge'," Oberoi Hotels' former President Kapil Chopra said on The BarberShop podcast.
short by Pragya Swastik / 04:11 pm on 17 Jul
PwC likely to lay off 50% China Financial Services Audit employees
short by System User / on 17 Jul 2024,Wednesday
PwC is reportedly planning to lay off up to 50% of its audit staff in the China financial services division. As per reports, the decision comes amid scrutiny from Chinese regulators, particularly due to PwC's auditing work for China Evergrande Group, which has led to the loss of significant clients.
short by System User / 06:49 pm on 17 Jul
Ashneer Grover stunned by YouTuber Ishan Sharma's monthly earnings
short by System User / on 17 Jul 2024,Wednesday
In a viral video from his YouTube podcast, Ishan Sharma revealed that he earns around ₹35 lakh monthly, surprising business veterans Ashneer Grover and Sanjeev Bikhchandani. Grover exclaimed, "Tu ₹35 lakh kamata hai mahine mein? (You earn ₹35 lakh in a month?)" Bikhchandani asked Sharma his age to which the latter replied that he is 22 years old.
short by System User / 06:01 pm on 17 Jul
Warner Bros Discovery to lay off 1,000 employees: Reports
short by Mansi Agarwal / on 17 Jul 2024,Wednesday
Warner Bros Discovery is firing roughly 1,000 employees in another round of layoffs, as per reports. The layoffs will reportedly affect employees across multiple departments including business affairs and production, with finance being the most affected. This comes a week after around 100 employees were laid off at Warner Bros Discovery-owned news network CNN.
short by Mansi Agarwal / 11:12 pm on 17 Jul
No takers for 18 lakh jobs in financial services sector: FPSB India CEO
short by Mansi Agarwal / on 17 Jul 2024,Wednesday
Financial Planning Standards Board (FPSB) India CEO Krishan Mishra said there were no takers for roughly 18 lakh jobs in India's financial services sector last year as per government data. "Jobs are there, but people aren't capable enough to take them up," he said. "Banks, insurance companies...and mutual fund companies are always in need of trained people," he added.
short by Mansi Agarwal / 08:43 pm on 17 Jul
India should have no tax on capital gains: Jefferies' Chris Wood
short by Debaroti Adhikary / on 17 Jul 2024,Wednesday
Brokerage firm Jefferies' Global Equity Strategist Chris Wood said it would be beneficial for India if it has no tax on capital gains as it would encourage more investments and market growth. Capital gains, which refer to the profit earned from the sale of assets or investments like shares, are currently taxed at a maximum of 15%.
short by Debaroti Adhikary / 03:35 pm on 17 Jul
I missed adding Indian defence stocks to my portfolio: Chris Wood
short by Mansi Agarwal / on 17 Jul 2024,Wednesday
Jefferies' Global Equity Strategist Chris Wood said he heard about India's defence sector stocks about three years ago but missed adding them to his portfolio. The problem in Indian equity markets is "what not to own", he stated. There might be an opportunity to add defence stocks if Russia-Ukraine conflict gets resolved and defence stocks see some correction, he added.
short by Mansi Agarwal / 09:01 pm on 17 Jul
Andhra welcomes you: Nara Lokesh to IT firms amid K'taka job quota row
short by Mansi Agarwal / on 17 Jul 2024,Wednesday
Andhra Pradesh Minister Nara Lokesh said the state is "ready to welcome" IT companies after Karnataka proposed a bill to reserve jobs for locals in the private sector. "We'll offer you...the most suitable skilled talent...with no restrictions from the government," he stated. His remarks come after trade association Nasscom said it was "deeply disturbing" to see the bill.
short by Mansi Agarwal / 11:07 pm on 17 Jul
Nazara Tech subsidiaries receive ₹1,120-crore GST notice
short by Mansi Agarwal / on 17 Jul 2024,Wednesday
Nazara Technologies on Wednesday said two of its subsidiaries received GST notices totalling ₹1,120 crore. The notices received by Openplay Technologies and Halaplay Technologies "are in relation to calculation of GST based on the sums pooled by players as opposed to gross gaming revenues", the firm said. Other gaming firms have also received similar GST notices over the past year.
short by Mansi Agarwal / 06:25 pm on 17 Jul
Google-backed GitLab, valued at $8 billion, explores sale: Report
short by Mansi Agarwal / on 17 Jul 2024,Wednesday
US-based software development firm GitLab is exploring selling the company after receiving acquisition interest, Reuters reported. Valued at about $8 billion, GitLab is backed by Google's parent Alphabet. The sale process has reportedly attracted interest from GitLab's peers, including cloud monitoring firm Datadog, which has a market value of around $44 billion.
short by Mansi Agarwal / 04:59 pm on 17 Jul
Amul has responded after a man posted pictures and several videos of worms in a package of Amul Protein Buttermilk on social media platform X. "Call received from Amul Head Office, Gujarat. They are sorry for the incident...as per them...this happened because of delay from their logistics team/partner...they are taking this incident very seriously," the man said in another tweet.
short by Ankush Verma / 06:58 pm on 17 Jul
We'll safeguard everyone's interests: Patil on K'taka's job quota
short by Mansi Agarwal / on 17 Jul 2024,Wednesday
Karnataka Industries Minister MB Patil said confusion regarding the state's job reservation bill will be resolved. "Karnataka is a progressive state...We will make sure that everyone's interests are safeguarded," he stated. He added that the interests of Kannadigas are paramount but issues of industries will also be addressed and they "need not have any fear".
short by Mansi Agarwal / 04:06 pm on 17 Jul
Ray-Ban maker EssilorLuxottica to buy Supreme for $1.5 billion
short by Mansi Agarwal / on 17 Jul 2024,Wednesday
French-Italian eyewear maker EssilorLuxottica has entered into a deal to acquire streetwear brand Supreme from VF Corporation for $1.5 billion in cash. This is the first acquisition of an apparel company by EssilorLuxottica, which owns brands like Ray-Ban and Oakley. Vans and The North Face owner VF Corporation bought Supreme for $2.1 billion in 2020.
short by Mansi Agarwal / 10:56 pm on 17 Jul
Mango sells at ₹39.6/kg in wholesale market, 12% higher than 2023
short by Debaroti Adhikary / on 17 Jul 2024,Wednesday
Mangoes were trading at a price of ₹39.6 per kg in the wholesale market in July, Moneycontrol reported. This marks a 12% increase from ₹35.4 per kg rate in July 2023. Mango inflation stood at record high of 37% in June. Other summer fruits have also seen a significant rise in prices, including Musk melon or kharbooja, lychee and others.
short by Debaroti Adhikary / 04:54 pm on 17 Jul
ICICI told to pay ₹12,500 to credit card user unable to use full limit at once
short by Debaroti Adhikary / on 17 Jul 2024,Wednesday
After ICICI Bank didn't let a customer spend credit card's entire limit in a single transaction, the Delhi Consumer Court ordered the bank to pay ₹12,500 as compensation for causing distress to the consumer. The court noted that the bank didn't previously disclose to the complainant any limitations regarding the size of transactions permissible with the newly issued credit card.
short by Debaroti Adhikary / 04:53 pm on 17 Jul
Open to price hike if inflation increases, says Asian Paints CEO
short by Nakul Ahuja / on 17 Jul 2024,Wednesday
Asain Paints CEO Amit Syngle has said that the company will be open to hiking prices should inflation rise further. "We are anticipating inflation of 1.5% in the upcoming quarter," he said. Syngle stated Asian Paints' prices are based on their own margins and not the prices of competitors, adding that their prices are at a premium due to elasticity.
short by Nakul Ahuja / 06:47 pm on 17 Jul
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