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Bitcoin trading platform Bitpanda lays off 250 employees

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Global Bitcoin trading platform Bitpanda has laid off 250 employees amid the crypto winter as digital coins crash.

Billionaire entrepreneur Peter Thiel-backed Bitpanda announced that it would be reducing its headcount from nearly 1,000 employees to 730.

The company, valued at $4.1 billion during their last fund raise in August last year, has also rescinded offers they made recently.

“The implications hurt: We need to let part of our team go and scale down to a target organisational size of about 730 people,” the company said in a blog post late on Friday.

“We made this difficult decision to ensure that we are robustly well-capitalised to navigate the storm and get out of it financially healthy, no matter how long it takes for markets to recover,” the company added.

Austria-based Bitpanda offers millions of retail investors the opportunity to invest in Europe’s broadest range of digital assets.

“Over the past few months, the market sentiment has dramatically changed, fuelled by geopolitical tensions, rising inflation and concerns about the imminence of a recession,” said the company.

“There’s lots of uncertainty in the financial markets right now and, while we do know that the industry is cyclical, nobody knows when the market sentiment will change,” it added.

The company said it will support those who were laid off, “by offering packages that go beyond the employment law requirements in your market”.

Bitpanda joins a growing list of crypto platforms like Crypto.com, Bitso, Buenbit, BlockFi, and Coinbase, who have announced layoffs in the wake of the recent economic downturn.

Business

Indian talent can be valuable partner in economic progress of Slovakia: President Murmu

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Bratislava, April 10: Asserting that India is one of the fastest-growing economies in the world, President Droupadi Murmu on Thursday urged business leaders from Slovakia to seize the opportunities and convert them into concrete results

Slovakia, President Murmu said while addressing the Slovakia-India Business Forum in Bratislava, with its strong industrial base and strategic location in Europe, presents great opportunities for deeper trade and investment ties.

“Slovakia is looking for hard-working skilled workers and professionals from overseas to help meet its workforce requirements. I am convinced that Indian talent can be a valuable partner in the economic progress of Slovakia,” President Murmu said in her address at the event.

“India is committed to enhancing trade relations with Slovakia. The large business delegation, representing diverse fields, which has accompanied me, clearly shows the interest of Indian businesses to explore opportunities in Slovakia. We have seen a similar interest from Slovakia,” she added.

Addressing the forum, President Murmu thanked Slovakia President Peter Pellegrini for his commitment in strengthening economic ties between the two countries. She said that India is undergoing remarkable transformation and has emerged as a global leader in technology, innovation and sustainable development.

President Murmu added that the Slovakia-India Business Forum serves as an excellent platform to explore synergies and build mutually beneficial partnerships.

Earlier, President Murmu visited an exhibition of paintings by Slovak children. The Slovak-Indian Friendship Society, in collaboration with the Indian Embassy, has been organising the painting competition ‘Beauty Hidden in Fairy Tales – India through the Eyes of Slovak Children’ since 2015.

She also witnessed a puppet show on Ramayan conducted by Lenka Mukova. Lenka is part of the Babadlo Puppet Theatre in Presov, which has been educating children through puppetry for 30 years.

President Murmu also attended a banquet hosted in her honour by Slovakia President Pellegrini at the historic Bratislava Castle. The Slovak artists presented captivating musical performances including that of the National Anthem, signifying the strong cultural bond between the two countries.

Thanking the Slovak government and the people of Slovakia for the warm welcome and hospitality, she said that from yoga and ayurveda to Indian cuisine, the love for Indian culture in Slovakia is a testament to the strong people-to-people connections. She also reaffirmed India’s commitment to strengthen the bonds of friendship between the two countries.

On Wednesday, President Murmu held productive talks with the Slovakia President in Bratislava as both leaders reviewed various facets of India-Slovakia relations and agreed to work towards strengthening the bilateral partnership across diverse sectors.

During their one-to-one meeting and delegation-level talks, President Murmu and Pellegrini also discussed issues of shared global and regional interests. The participants in delegation-level talks from the Indian side included the accompanying Minister of State, Nimuben Bambhaniya, as well as Members of Parliament Dhaval Patel, Sandhya Ray and senior officials.

President Murmu also met the Speaker of National Council of the Slovak Republic, Richard Rasi in Bratislava, congratulating him on his recent election as Speaker while reaffirming the high priority attached by India to the historic friendship between the two countries.

“President Murmu said that Parliamentarians have an important role in enhancing goodwill and mutual understanding between India and Slovakia. She noted that there has been a tradition of a Slovak-India Friendship Group in the National Council of Slovakia, and said that it would help promote exchange of knowledge and experience among our Parliamentarians,” the President’s Secretariat stated.

This is the first visit by an Indian President to Slovakia in nearly three decades.

“The two-day visit to Slovakia spotlights the importance India places on its bilateral relations with the Slovak Republic. It is also expected to pave the way for deeper cooperation and new initiatives in various sectors, including defence, science and technology, and education,” stated the Ministry of External Affairs (MEA).

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National

Gujarat can witness one of the hottest years in 2025: Scientists

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Ahmedabad, April 10: As Gujarat grapples with soaring temperatures, Ahmedabad recorded a high of 42°C (108°F) on Thursday, with a predicted forecast similar for the coming days. ​

Over the past few decades, Gujarat has witnessed a consistent increase in both minimum and maximum temperatures. Scientists warn that 2025 could be one of the hottest years on record if current trends continue.

The IMD’s ‘State-Level Climate Change Trends in India’ report indicates an annual rise of approximately 0.02°C in these temperature metrics. While this increment may seem marginal every year, its cumulative effect over time has led to more frequent and intense heatwaves.​

The IMD predicts that the intense heat will persist throughout April and May, with maximum temperatures ranging between 41°C to 45°C (106°F to 113°F) in parts of Gujarat. A slight respite is expected with the onset of the monsoon season in June, although temperatures are still projected to remain above normal during this period.

Experts suggest that several factors contribute to this warming phenomenon. Rapid urbanisation and industrialisation have transformed cities like Ahmedabad and Surat into heat islands, where concrete structures and asphalt surfaces absorb and retain heat, elevating local temperatures.

Additionally, deforestation for agricultural expansion and urban development has diminished the natural cooling effects of vegetation, further exacerbating the heat.​ Gujarat’s geographical features also play a role. Its extensive coastline along the Arabian Sea means that rising sea temperatures can influence local climate conditions.

“Urbanisation in cities like Ahmedabad and Surat has replaced natural landscapes with heat-trapping concrete, asphalt, and steel. These materials retain heat well into the night, increasing not just daytime but also nighttime temperatures. It’s a classic case of the urban heat island effect,” said a climate scientist at the Gujarat Ecology Commission.

Further, Gujarat’s semi-arid geography makes it more vulnerable to temperature extremes. Unlike forest-rich regions, dry land heats up faster and offers minimal natural cooling. This makes rural populations and agricultural workers especially susceptible to heatstroke and dehydration.

In May 2010, Ahmedabad experienced an extreme heatwave, with temperatures soaring to unprecedented levels. Studies indicate that during this period, there was an estimated 43 per cent increase in all-cause mortality, translating to approximately 1,344 excess deaths compared to similar periods in 2009 and 2011. ​

More recently, in May 2024, Gujarat recorded 187 cases of heatstroke, with Ahmedabad accounting for 69 of these cases. Notably, 152 of these cases across the state, including 66 in Ahmedabad, were reported in the last ten days of May when average temperatures reached 44.6°C. ​

In the agricultural sector, increased heat stress adversely affects crop yields, threatening food security and the livelihoods of farmers.

Health-wise, the prevalence of heat-related illnesses has surged. For instance, during a heatwave in 2010, Ahmedabad recorded 76 heatstroke deaths in a single week.

Subsequent analyses revealed an excess of 800 deaths during that period, highlighting the severe impact of extreme heat on public health.

​ In response to the increasing heat, the Gujarat government has implemented several measures to mitigate the impact on its citizens.

The Gujarat State Disaster Management Authority (GSDMA) has developed action plans for high-risk cities, focusing on early warning systems and public awareness campaigns.

Furthermore, the government has advised residents to take precautions against heat-related illnesses, emphasising the importance of staying hydrated and avoiding direct sun exposure during peak hours. The health impacts of rising temperatures are profound.

Studies have shown a significant increase in heat-related illnesses and mortality during extreme heat events.

For instance, the 2010 heatwave in Ahmedabad was associated with a 41.3 per cent increase in all-cause mortality. To combat this, the Ahmedabad Municipal Corporation has launched heat wave preparation and warning systems aimed at protecting vulnerable populations.

Looking ahead, projections indicate that Gujarat’s mean temperature could rise by up to 5°C by the end of the 21st century.

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Assam govt to distribute financial aid to 43 lakh beneficiaries

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Guwahati, April 10: Assam Chief Minister Himanta Biswa Sarma said on Thursday that over 43 lakh persons, including a large section of women, are set to benefit from the state government’s cash transfer scheme.

Taking to social media platform X, CM Sarma wrote, “It’s the 10th of April and like every month, today is Pension and Orunodoi Day in Assam, our most comprehensive Jan Kalyan effort. Over 43 lakh people, mostly women will get over ₹384cr directly in their bank accounts to enable them to fulfill their basic necessities.”

Under the Orunodoi scheme, the state government provides financial assistance to women on the 10th of every month.

The CM earlier also asserted that to prevent fraudulent claims, the Orunodoi scheme is being linked with ration cards. The state administration has distributed at least 20 lakh new ration cards to the beneficiaries across the state recently.

CM Sarma highlighted the steadfast commitment of the current state government to ensure that the needy have regular access to rice.

He noted that the National Food Security Act (NFSA) was implemented in Assam in December 2015, with the aim of safeguarding the nutritional needs of approximately 2.51 crore beneficiaries.

He emphasised that 85 per cent of rural residents and 60 per cent of urban inhabitants should be entitled to ration cards.

The CM said that following the linking of ration cards with Aadhaar, an additional 60 lakh cards have been issued, thus facilitating the distribution of free rice via biometric verification.

He commended the successful implementation of the ‘One Nation, One Ration Card’ scheme, which has been in place for the past three years, allowing beneficiaries to access provisions from anywhere in the country.

The Chief Minister clarified that ration cards must be collected between the 1st and 10th of each month and reassured the public that no fraudulent claims would be entertained, as the government has made substantial efforts to ensure that deserving families receive their entitlements.

CM Sarma stated that in the 2023-24 fiscal year, 42,85,745 new beneficiaries have been included, with 10,73,489 new families receiving ration cards in January alone, benefitting more than 52 lakh people. The Chief Minister also said that families holding ration cards would be eligible for free medical treatment up to Rs five lakh at government hospitals under the Ayushman Bharat and Ayushman Assam schemes.

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