Category: Breaking News

Japanese manufacturers are now eligible for subsidies if they shift production out of China to India or Bangladesh, as per the Nikkei Asian Review . The Japanese government is offering $221 million in incentives to companies willing to shift production to South and Southeast Asia, the newspaper said. The country expanded the scope of the subsidy programme to diversify its supply chains.   The Ministry of Economy, Trade and Industry (METI) also provides subsidies to Japanese manufacturers that shift their manufacturing units from China to the other ASEAN countries. It…

Accurate computational prediction of chemical processes from the quantum mechanical laws that govern them is a tool that can unlock new frontiers in chemistry, improving a wide variety of industries. Unfortunately, the exact solution of quantum chemical equations for all but the smallest systems remains out of reach for modern classical computers, due to the exponential scaling in the number and statistics of quantum variables. However, by using a quantum computer, which by its very nature takes advantage of unique quantum mechanical properties to handle calculations intractable to its classical…

The Central Registrar of Cooperative Societies has sought a probe by the Serious Fraud Investigation Office (SFIO) into investments made by four cooperatives associated with the Sahara group from over Rs 86,600 crore collected by them, but the credit societies refuted the charges and said all their investments have been made as per the law. The societies also said they have contested the allegations at the “appropriate forum”.   In a letter written to the Corporate Affairs Ministry, the Registrar said it had received more than 15,000 complaints from depositors…

A group of schools across the UAE have been forced to revert back to distance learning after staff members were suspected to have tested positive for coronavirus.   The move has been taken by the Ministry of Education (MoE) and the National Emergency Crisis and Disaster Management Authority (NCEMA) just three days after schools in the country reopened their doors following more than six months of closure.   The names of the schools involved were not revealed by authorities. “As a precaution, education, emergency and crisis authorities announce the transfer of…

Defence Minister Rajnath Singh said, he had an ‘excellent meeting’ with his Russian counterpart General Sergey Shoigu during which he appreciated the ‘steadfast support’ provided by Russia in response to the country’s defence and security needs. Singh, who arrived in Moscow on Wednesday on a three-day visit to attend a crucial meeting of the Shanghai Cooperation Organisation (SCO), pressed for expediting supply of a number of weapons systems, ammunition and spares to India by Russia under contracts which were concluded earlier.   Taking to Twitter, Singh wrote, “Excellent meeting with…

Union minister Ravi Shankar Prasad, in a sharp letter to the Facebook founder, alleged that employees of the social media giant “are on record abusing Prime Minister Narendra Modi and senior cabinet ministers” while still working in Facebook India and managing important positions.   In the middle of a huge controversy over reports alleging that a Facebook executive was biased towards members of the ruling BJP and did not act on incendiary posts, the government has written to Mark Zuckerberg alleging quite the opposite.   There have been “multiple instances…

In a historic verdict, The apex court has given telecom firms 10 years to clear AGR dues. It has directed telcos to pay 10 per cent of the total AGR dues by March 31, 2021. The seems a big blow to Vodafone Idea, whose shares tanked 20% after the verdict was pronounced. The supreme court, also ordered the bankruptcy court to decide on whether airwaves can be subject to insolvency proceedings . This issue came to the forefront when the Department of Telecommunications (DoT) highlighted that bankrupt telcos have not paid AGR dues of Rs…

The increasing bench job in the IT companies for redeployment on new projects raises concern with the increased bench count. Sources said, IT and ITeS employees set to lose their jobs over the next few quarters – because of the COVID disruption to cross much above 200,000 mark. Sources further said, some are providing only the insurance support in case of anyone suffers from pandemic. Several IT majors are reportedly laying off thousands while headcount fell at TCS, Infosys, and Wipro in the June quarter.   The Indian IT and BPM sector employs around 4.4 million people,…

Former Indian President and Indian Political heavyweight Pranab Mukherjee passed away. The most admired and loved leader of the country, Mukherjee was 84.Mukherjee was the 13th President of India.   Mukherjee had suffered a fall at his Rajaji Marg house and had been operated to remove a blood clot in his brain on August 10. Doctors on Monday morning warned that there was a decline in his condition and he was in septic shock due to infection in his lung.   Later in the afternoon, his son Abhijit Mukherjee made…

Paytm group suffers a massive data breach – paytm mall hacked and ransom demanded, the cybercrime group demanded ransom after gaining unrestricted access to the entire databases of Paytm Mall, although the e-commerce platform denied the claims.   The cybercrime group with the alias “John Wick” was able to upload a backdoor/Adminer on Paytm Mall application/website, said Cyble. A Paytm Mall spokesperson, however, said that the claims are “absolutely false” and that user data, as well as company data, is secure.   As per the sources, John Wick” is the same…