The Centre has circulated a draft legislation to ban lending by unregulated entities, including by platforms, with violators facing imprisonment of up to seven years. Lenders, who harass and use unlawful means for recovery, face up to 10 years in jail, with those promoting such lending facing a term of up to five years. The … Read more
SpaceX CEO Elon Musk and his aerospace company are currently under scrutiny, with at least three federal reviews initiated to assess their compliance with regulations designed to safeguard national security, according to a report byThe New York Times on Tuesday. The probes, reportedly launched by the United States Air Force, the Department of Defence’s Inspector … Read more
Hurun India released the country’s Top 200 Self-made Entrepreneurs of the Millennia 2024. The average age of the entrepreneurs is 45 years. Further, a third of the founders on the list are under the age of 40. Radhakishan Damani, the visionary behind Avenue Supermarts, worth over INR 3.4 lakh crore, reflecting a 44 per cent … Read more
China’s top diplomat expressed hope on Tuesday that the incoming Trump administration would foster cooperative ties with Beijing, hours after former President Donald Trump remarked that the COVID-19 pandemic had strained his once-cordial relationship with Chinese President Xi Jinping, as per Reuters. “We hope the new U.S. administration will make the right choice and work … Read more
The finance ministry on Monday said it’s following a “calibrated disinvestment strategy” through the listing of central public sector enterprises (CPSEs) as well as gradual dilution of minority stakes via the stock market, aligned with interest of minority shareholders. It has adopted a “holistic public asset management strategy” and every CPSE is being “driven to … Read more
Beijing has announced the formation of a new artificial intelligence standardisation technical committee, Reuters reports. The committee will establish industry guidelines for emerging technologies such as large language models and AI risk assessment. As per the wire, the 41-member committee, which includes representatives from prominent tech firms like Baidu and prestigious academic institutions such as … Read more
“I won on groceries,” the president-elect said in an interview Sunday on “Meet the Press.” In his nomination-acceptance speech at the Republican National Convention in July, Trump said he would “end the devastating inflation crisis immediately.” Despite his pledge to lower inflation, if Trump follows through on some of his tariff and immigration plans , … Read more
India’s tax department has ordered Zomato to pay 8.04 billion rupees ($94.8 million) in taxes and fines for non-payment of certain taxes from 2019 to 2022, the food delivery platform said on Thursday. The order directs Zomato to pay 4.02 billion rupees in outstanding taxes and an identical amount as penalty, which totals to more … Read more
India has a demographic window and the government is working towards ensuring that its young cohort is productive and useful to the economy, skills development secretary Atul Kumar Tiwari said, adding that the onus lies on the government, industry and academia to take advantage of the situation. “We have a window during which our working … Read more