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< Back Government planning an Employee Provident Fund Org revamp 16 Apr 2024 This plan aligns with the bigger vision of creating a universal social security offering improved service delivery. The Indian government is planning a revamp of the Employee Provident Fund Organisation (EPFO) to significantly improve service delivery. The short, medium, and long-term plans include restructuring its PAN India offices and processes, IT reforms to enable automatic settlement of claims, and cadre restructuring. The plan is to form a social security organisation offering universal coverage and contactless and online services. It is creating a PAN India centralised database to settle claims automatically subject to a validation process. EPFO has commissioned an in-depth study at IIT Delhi to develop reforms to enhance efficiency. The organisation experienced a staff reduction of 21.3% along with a 3.5 times jump in claim settlement in the past ten years. With an increase in the organised workforce, the EPFO subscriber base has expanded by 126% since 2018. The organisation added 6.1 million subscribers in 2018-19 and 13.8 million in 2022-23. Previous Next

< Back New aviation bill to reduce aircraft leasing cost and maybe airfares 20 Mar 2025 The Cape Town Convention-Centric Bill 2025 aims to reduce aircraft leasing costs by 10%, which may ultimately reduce airfares. The Aviation Ministry presented the Cape Town Convention-Centric Bill, legally known as the Protection of Interests in Aircraft Objects Bill, 2025, in Parliament on February 10th. The bill facilitates quicker aircraft repossession in case of defaults, reduces leasing, financing and operational costs for airlines, and promotes domestic leasing and financing options through GIFT City, Gujarat. It will implement the Cape Town Convention and Protocol provisions and boost the Indian aircraft financing industry. The bill allows aircraft owners to reclaim their planes within two months of airline default or bankruptcy. It empowers the DGCA (Directorate General of Civil Aviation) to supervise the implementation. Axis Bank became the first Indian bank to offer aircraft financing through GIFT City. It cleared a long-term USD loan for Air India’s leasing subsidiary, AI Fleet Services, to purchase 34 training aircraft. Air India is discussing a multi-billion-dollar order of 30-50 widebody aircraft with Boeing and Airbus. Never miss another post from SalestorrsNews150. Follow Salestorrs on WhatsApp , LinkedIn , Facebook , X , and Instagram . Previous Next

< Back All 12 smart cities to become dedicated industrial hubs 2 Oct 2024 In September, the Union Cabinet approved the development of 12 smart cities, each serving a specific industry, for an investment of ₹28,602 crore. The Union Cabinet approved 12 smart cities, including Khurpia in Uttarakhand, Prayagraj and Agra in Uttar Pradesh, Rajpura-Patiala in Punjab, Jodhpur-Pali in Rajasthan, Dighi in Maharashtra, Palakkad in Kerala, Zaheerabad in Telangana, Kopparthy and Orvakal in Andhra Pradesh, and Gaya in Bihar. Each smart city will serve a specific industry and be constructed in around three years, with contractor onboarding scheduled for March 2025. They will span ten states and six significant industrial corridors. They will offer coexisting residential and commercial setups with plug-and-play infrastructure, 24x7 electricity, portable drinking water, and amenities to facilitate the walk-to-work concept. Palakkad may build infrastructure for medicines and botanicals, Agra for Electronics System Design and Manufacturing and EVs, Gaya for light engineering, food processing, and metal industries, Bidkin for automotive and Dighi and Krishnapatnam for port-led industrialisation promoting ecotourism. Singapore, Switzerland, Japan, and Taiwan are keen to have dedicated spaces in these cities. Previous Next

< Back Delhi High Court dismisses Celebi’s appeal 7 Jul 2025 The Turkish airport ground handling agency had challenged the revocation of its security license. ! Widget Didn’t Load Check your internet and refresh this page. If that doesn’t work, contact us. Previous Next

< Back Reliance planning to buy a 29.8% stake in Tata Play 15 Feb 2024 If all goes well, it will be the first deal between Tata Group and Reliance Industries. It will allow Reliance to offer all JioCinema content on Tata Play. Reliance Industries plans to buy Walt Disney’s 29.8% stake in the subscription-based television and video streaming platform Tata Play. Besides Walt Disney, Tata Sons owns 50.2% of Tata Play, and Temasek, a Singapore-based fund, owns 20%. The Mukesh Ambani-led group is also about to merge its India business with Walt Disney, with the deal expected to be finalised this month. Reliance will acquire a 51% stake in the merged entity, and Walt Disney will hold around 40%. The remaining 9% will be owned by Bodhi Tree, a joint venture between James Murdoch and former Disney top boss Uday Shankar. Walt Disney plans to sell its TV content and OTT to Reliance for around $3.9 billion. Its valuation dipped after Zee Entertainment withdrew from a cricket rights deal worth $1.4 billion. With this, Reliance aims to strengthen its share in the $28 billion Indian media industry and TV distribution market. Previous Next

« Choisissons le bon sens que le non-sens. » a-t-elle déclaré aux électeurs américains. < Back Nous allons électer Kamala Harris : Oprah encourage les électeurs « Choisissons le bon sens que le non-sens. » a-t-elle déclaré aux électeurs américains. Mercredi, l’animatrice de talk-show américaine, Oprah Winfrey a fait une visite surprise à la convention nationale du parti démocrate à Chicago. Elle a raconté ses expériences en matière de sexisme, racisme, et d’inégalité salariale dans les Etats-Unis. Elle a mentionné « Quand une maison est à feu, nous ne demandons pas le race ou religion de la propriétaire. Nous essayons simplement de les sauver. » « Très bientôt, nous apprendrons à nos enfants comment la fille d’une mère indienne et un père jamaïcain est devenue le président des Etats-Unis, » a-t-elle ajoute. C’était un jour après l’ancien président américain Barack Obama et son femme Michelle ont participé à la convention nationale du parti démocrate. Il s’agissait d’un numéro d’échauffement avant le discours de Tim Walz, candidat à la Vice-Président de Kamala Harris. Mme Harris a prononcé son discours ce jeudi après avoir accepté l’investiture démocrate pour la présidence. Previous Next

< Back Third Wave Coffee engages in a price war with Starbucks Ishita Nigam 10 Oct 2023 The Bengaluru-based coffee startup, which started operations in 2016, offers locally sourced special coffee at affordable prices. If the tea-drinking audience wasn’t enough, Starbucks faces stiff competition from Indian rivals like Third Wave and Blue Tokai Coffee. Blue Tokai is still a Minicorn with a funding of $46 million, while Third Wave Coffee now has a valuation of $150 million. Canadian Tim Hortons and British Pret a Manger also entered the Indian market this year. For every three Starbucks outlets, one Third Wave Coffee is luring their customers away with cheaper pricing for a brilliant cup of coffee. The startup is also present in Delhi, Gurugram, Noida, Mumbai, Pune, Chandigarh, Hyderabad, and Coonoor. In Bengaluru alone, Third Wave Coffee operates 40 outlets compared to Starbucks’ 35. It has led Starbucks to sign a lease with a Bengaluru Mall with a ‘Café Exclusivity’ clause to be the only café on the floor. Starbucks introduced the Indian Chai for ₹185 to lure the 91% tea-drinking Indian population. Previous Next

< Back OpenAI raises $40bn in funding, announces an open gen AI 1 Apr 2025 It is the biggest funding raised by a startup ever. On Monday, OpenAI made two announcements. First, it raised $40 billion in the latest funding round from SoftBank Group, valuing it at $300 billion —nearly double its $157 billion valuation in October 2024. SoftBank will initially infuse $10 billion, followed by an additional $30 billion by year-end, contingent upon specific conditions. One critical requirement is for OpenAI to transition to a for-profit model. If not met, OpenAI will forfeit up to 25% of the agreed-upon funding amount. This investment will support OpenAI’s $500 billion Stargate initiative, a significant AI project being developed in partnership with Oracle, SoftBank, and Abu Dhabi’s MGX. Second, it is building its first more open generative AI to compete with Meta’s Llama and DeepSeek, a significant shift from OpenAI’s usual, more secured, closed AI models. OpenAI’s latest image generator tool added one million users within the first hour after launch, thus heating its graphic processing units. Never miss another post from SalestorrsNews150. Follow Salestorrs on WhatsApp , LinkedIn , Facebook , X , and Instagram . Previous Next

< Back BYD considering a $10 billion manufacturing facility near Hyderabad 28 Mar 2025 In 2024, BYD surpassed Tesla to become the global leader in EV manufacturing and sales. The Union Government rejected BYD’s $1 billion proposal to set up a factory in 2023. BYD has now received the government nod and is ready to set up a facility near Hyderabad. The Telangana government suggested three potential locations, which BYD is evaluating. It plans to increase production to 600,000 EVs yearly in the next 5-7 years. The state government implemented a new EV policy offering significant incentives, including a 100% exemption on road tax and registration fees for all EVs. This initiative is valid till December 31st, 2026. BYD’s 1 MW flash charger can fully charge a vehicle within 5-8 minutes, allowing its cars to travel up to 400 km after a single charge. It assembles and rolls out electric buses from a small base in Tamil Nadu. BYD reported $107 billion in revenue and 4.27 million in sales in 2024, compared to Tesla’s $97.7 billion and 1.79 million sales. Never miss another post from SalestorrsNews150. Follow Salestorrs on WhatsApp , LinkedIn , Facebook , X , and Instagram . Previous Next

< Back JSW Steel-JFE to acquire Thyssenkrupp Electrical Steel for ₹4,051.4 crore 21 Oct 2024 JSW Steel has a 50:50 joint venture with Japan’s JFE Steel Corp that will acquire a 100% stake in Thyssenkrupp Electrical Steel India (TKES). The JSW Steel – JFE joint venture is set to fully acquire Thyssenkrupp Electric Steel, including licensing or transferring its associated technology to enhance its portfolio of value-added steel products. TKES’s Nashik facility makes grain-oriented electrical sheets (GOES), which are used to manufacture energy-efficient transformers and bigger, high-performance generators. Jsquare Electrical Steel Nashik, the JSW-JFE joint venture, will execute the transaction. It expects to achieve immediate market access with this acquisition. The acquisition will enable the JSW-JFE joint venture to make GOES in India for domestic and global customers. Presently, India imports the majority of the GOES from Japan, Russia, and China. ArcelorMittal, POSCO, and Baosteel are the biggest global manufacturers of GOES. The market for GOES is valued at around $13 billion worldwide, projected to reach $20 billion by 2032. The acquisition is expected to be completed within eight months, subject to approval from the Competition Commission of India. Previous Next

< Back Telecom Department, mobile operators target fake int’l callers with Indian numbers 27 May 2024 The ‘Sanchar Saathi’ portal’s RICWIN module will identify international callers with an Indian number and assist users in reporting such callers. The Sanchar Saathi portal, launched by the Department of Telecommunication (DoT) in May 2023, assists in identifying fake international callers with Indian numbers. These international criminals manipulate the Caller Line Identity (CLI) to display local numbers to conduct financial fraud, cybercrime, fake digital arrests, drugs and narcotics in couriers, FedEx scams, and impersonating government and police officials. The Telecom Service Providers already block international callers with Indian landline numbers and have also been directed by the DoT to block mobile calls. Using Sanchar Saathi, users can report fraud cases, check the mobile numbers issued in their names, and disconnect the ones they did not take. The portal’s TAFCOP module assists in checking the genuineness of the device while buying a new mobile phone. The CEIR module can help block and track a lost or stolen phone. The Chakshu mode facilitates reporting fraud, suspecting and unsolicited calls, SMSes, and WhatsApp messages. Previous Next

< Back UP govt fines Noida International Airport ₹21 crore for delay in launch 7 Sept 2024 The Jewar airport was to be operational by September 2024, but the deadline has been reset for April 2025. As per the concession agreement between the airport operator Yamuna International Airport Private Limited (YIAPL) and the Uttar Pradesh government, the airport was supposed to start operations on September 30th. A grace period of 91 days was allowed, but the additional delay resulted in a penalty effective September 30th. A major reason for the delay is the holdup in awarding the engineering procurement and construction (EPC) contract. It was finally awarded to Tata Projects in June 2022. YIAPL may apply for an aerodrome license in December to be legally eligible to operate an aerodrome, a place where aircraft flight operations take place. YIAPL is a wholly owned subsidiary of Zurich Airport International AG. Noida International Airport Limited (NIAL) is a special purpose entity of the UP government managing the new airport development. NIAL issued a separate notice to YIAPL for extending the deadline without consulting them first. Previous Next