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Is Rajnikanth ready to turn politician?
During a five-day meeting with his fans in Chennai earlier this month, Rajinikanth said, My life is in God's hands. He wants me to be an actor today, but tomorrow if he wants me to be someone else, I'll accept that too. In the 1998 general election, he again extended support to the the DMK-TMC combine, but they won just eight seats. He adds that if he goes it alone, given the power struggle in the AIADMK, the DMK's opposition will be further divided.
Here's what Singapore is doing to create new jobs, redeploy displaced workers and upskill workers
India is a nation with 1.3 billion people, over $2.5 trillion economy, an over 470 million-strong workforce and $1,850 per capita income. Yet, at a time when India is staring at a looming job crisis, it might want to look at Singapore for some direction. Not enough decent wage jobs are being created for 12 million new workers that join the workforce annually.
Has Bengaluru being Bangalored? Layoffs, job loss fears leave techies reeling under uncertainty
Finding a job was easier said than done, particularly when you were from a new government college with poor facilities. He finally found the job he wanted with an MNC IT firm in one of the city's biggest tech parks, in July 2016. Now we have been told to take four months' salary and leave in two days or serve two months' notice and leave. None of that was a cause for concern for people coming to Bengaluru in search of that IT job.
World Bank planning $2 bln green bonds for Peru
The financial arm of the World Bank is considering issuing about $2 billion in bonds to finance environmentally friendly projects in Peru, the nation's economy minister said on Saturday. Economy Minister Alfredo Thorne, during a state television program in which President Pedro Pablo Kuczynski interviews various personalities, said the bonds would be used to finance projects such as reforestation in the Amazon.
Payments banks have an opportunity in the millions of unbanked, but are these viable?
RBI has given us an opportunity to create a new kind of banking model in the world, Vijay Shekhar Sharma, chairman of Paytm Payments Bank, said in a media release. Customer deposits, he added, will be safely invested in government bonds, and be used for nation building. Payments banks need to find other avenues to improve the yield on the assets made available to them from their depositors. Payments banks are more likely to cross-sell services that are being offered on their platform, says Bhattacharya.
What a bunch of Indian startups have in common with Elon Musk's Tesla: Energy-efficiency ventures
There are large gaps in the way energy efficiency measures are understood and therefore implemented in India, he says. Indian ventures looking to crack the energy efficiency market can look to Elon Musk for inspiration. To this end, the maverick entrepreneur has seeded a series of ideas to try to make every watt count. New technology platforms and solutions from startups such as Smart Joules have begun to chip away at an age-old problem.
Many flaws in SC order that cancelled coal blocks: Parakh
There were several flaws in the 2014 Supreme Court order which cancelled almost all coal block allocations made since 1993, former coal secretary P C Parakh said today. There were several flaws in this court order that I have described in the book, the former IAS officer said. The SC in September 2014 had cancelled 214 coal blocks, allotted to various private companies since 1993.
Pak minister urge Opposition to agree on 'charter of economy'
Pakistan's Finance Minister Ishaq Dar today urged opposition parties to agree for long-term development of the country on the charter on economy, aimed at creating consensus among all political segments. Dar said that purpose of the charter of economy is to create consensus among all political segments before the general elections next year, so that irrespective of who wins the economic policies should continue. He was talking to the media after presenting budget to the parliament, targeting 6 per cent GDP growth.
Reliance Communications' Q4 loss at Rs948 crore on disruptive pricing, competition
Telecom player Reliance Communications on Saturday reported loss of Rs948 crore for the fourth quarter ended March 2017, hurt by intense price war unleashed by newcomer Jio. Reliance Communications-promoted by Anil Ambani-had registered net profit of Rs79 crore in the corresponding period of the previous year, as per a regulatory filing. The sector, it noted, has been severely impacted on account of free offers, disruptive pricing and hypercompetition.
Fairfax sells 12.18% stake in ICICI Lombard General Insurance
Canadian billionaire Prem Watsa's Fairfax Financial Holdings Ltd on Saturday sold 12.18% of its stake in general insurance ICICI Lombard General Insurance Co Ltd to private equity firms Warburg Pincus, Clermont Group and IIFL Special Opportunities Fund, the company said in a statement. Upon completion of the transaction, ICICI Bank Limited and Fairfax will have approximately 63% and 22% share ownership in ICICI Lombard, respectively. ICICI Lombard will be the second insurance venture of ICICI Bank to go public.
Proposed Obamacare repeal impact could be seen next year
Back-office service provider Hinduja Global Solutions (HGS), which earns nearly half of its revenues from health care-related services, has said the repeal of Obamacare in the US could impact its business in the next fiscal year. The Donald Trump-led US administration has proposed to do away with Obamacare, or the Affordable Care Act, which brought a large number of Americans in the insurance net. The decision is pending as the US administration has now sought 90 days to resolve a lawsuit over the matter.
SnapBizz to collaborate with 100,000 kirana stores in 2 years
SnapBizz has helped kirana store owners in cities such as Bengaluru, Mumbai, Pune, Chennai and New Delhi deploy its digital technology-led solutions for running their retail stores. The company has set its eye on digitising over 100,000 kirana stores over the next 18 to 24 months. Going forward, the company wants to expand globally, according to Snapbizz founder and chief executive officer Prem Kumar. SnapBizz claims that its solution enables the store owners to achieve close to a million digital transactions every month.
L&T Realty banks on large projects
L&T Realty, the property development arm of construction and engineering giant L&T, is betting on bigger projects, lower pricing and faster execution to boost its growth. The company plans to launch three malls of 1.2 million sq ft in Hyderabad in the next six months. Last year, L&T Realty sold its 1 million sq ft mall in Seawoods station in Navi Mumbai to Blackstone for Rs 1,400 crore. We believe in doing fewer but bigger projects, said Shrikant Joshi, chief executive at L& T Realty.
Savli fuels Bombardier's Asia-Pacific plan
We supply components to overseas markets from Savli and that will continue. On top of it, we will have vehicle supply depending on the countries which we have focused upon. Bombardier Transportation's 65-70 per cent business comes from the European market while Asia Pacific contributes only five-six per cent. Set up in 2008 at an investment of Rs 230 crore, Savli has seen 80-85 per cent utilisation due to the two projects under execution.
IT forum petitions against Wipro
The Bengaluru chapter of the Forum of IT Employees (FITE) has filed a petition to the Karnataka labour department against IT services major Wipro over allegations of forceful resignation. FITE claimed senior employees of the company, including project managers, were called by the management and forced to apply for resignation and they were branded as non-performers. Employees who challenged such illegal terminations are repeatedly intimidated by the management until they resign.
Chipotle Hacking: Payment Card Information Stolen
Chipotle Mexican Grill said on Friday hackers used malware to access customers' card data, including its number, expiration date and internal verification codes, from payment systems at some of its restaurants between March 24 and April 18. An investigation into the breach found the malware searched for track data from the magnetic stripe of payment cards used in certain Chipotle and Pizzeria Locale restaurants. The Mexican food chain said the malware has since been removed.
Arun Jaitley pitches for Air India disinvestment
Finance Minister Arun Jaitley has favoured disinvestment of the loss-making Air India, saying the airline 's market share is just around 14 per cent whereas the debt burden is Rs 50,000 crore. This is the clearest indication yet from the current NDA regime on possible stake sale in Air India, which is staying afloat on taxpayers' money. To run Air India, around Rs 50,000 crore have been put in and that money could have been used for promoting education, the minister added.
Odisha: Ferro Alloys says closure of mines will force company to discontinue CSR
With its two chromites mines and its two ferrochrome plants in Odisha shut for over a month, Indian Metal and Ferro Alloys, India's largest fully-integrated producer of ferroalloys, Saturday said the closure will force the company to discontinue its CSR activities in Odisha. IMFA with an installed capacity of 187 MVA has captive power generation capacity of 258 MW. IMFA has appealed against the revocation of the OSPCB order before Odisha High Court calling it arbitrary and intentional.
Cognizant layoff plea closed in favour of sacked staff: Govt
Yesterday, a team from Cognizant met the joint commissioner of labour in Hyderabad, the Cognizant spokesperson said. The labour department has also advised the company management to give one more opportunity for the petitioners to prove themselves, Shekaram said. We have also advised the management to give all eight employees one more opportunity to prove their mettle, he added. Out of the eight petitioners, three had resigned and we have asked them to withdraw their resignations for contention.
EPFO gives nod to hike in stock investment to 15 per cent
The Employees Provident Fund Organisation has approved hike in investment limit in exchange traded funds (ETFs) to 15 per cent, from the existing 10 per cent, Union Labour Minister Bandaru Dattatreya said today. Invest in ETFs and 5 per cent was invested then. Happy to inform you that the rate of return on our investment. In ETF is 13.72 per cent, said the minister while addressing. Bringing the exit policy at the next CBT meeting to take a

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