Connect with us
Saturday,26-November-2022
Breaking News

Business

India, Italy call for closer industrial and defense ties

Published

on

India and Italy’s Foreign Ministers met on Friday and deliberated upon closer industrial collaboration, including in the field of defence, and made commitment to closely work in countering common challenges related to terrorism, violent extremism, and cyber crime.

On his first official visit to India, from May to 6, Italian Foreign Minister, Luigi Di Maio, held bilateral talks with his Indian counterpart S. Jaishankar where they reviewed the full spectrum of bilateral relations, including the progress in implementation of the 2020-2024 action plan adopted at the virtual summit in November 2020.

Both the Ministers welcomed the growing bilateral trade and investment linkages and agreed to expand them in new areas of common interest.

They also discussed the implementation of the India-Italy strategic partnership on energy transition announced in 2021 during Prime Minister Narendra Modi’s visit to Italy and agreed to explore partnerships in areas such as gas transportation, green hydrogen, bio-fuel and energy storage.

In addition, they agreed to jointly organise an India-Italy tech summit on energy transition and circular economy in New Delhi on November 17 this year.

The two leaders noted the potential for a closer industrial collaboration, including in the field of defence.

They reiterated their commitment to closely work in countering common challenges related to terrorism, violent extremism and cyber crime.

In the context of recent geopolitical developments, they also exchanged views on regional and global issues of mutual interests including Ukraine, Afghanistan and Indo-Pacific and cooperation in multilateral fora, including G20.

On Ukraine, the two Ministers expressed their concern on the ongoing humanitarian crisis and called for an immediate cessation of hostilities. They also underlined the importance to safeguard the international order based on the UN Charter, with special regard to the respect of sovereignty and territorial integrity.

During the visit, Di Maio also had a meeting with Commerce and Industry Minister Piyush Goyal and co-chaired a business round-table which saw participation of top business leaders particularly in the energy, defence, sustainable mobility, and infrastructure sectors.

He had visited Bengaluru on Thursday, where he met Chief Minister Basavaraj Bommai and inaugurated the premises of the new Consulate General.

Di Maio also visited the Indian Space Research Organisation and the Indian Institute of Science along with representatives of their Italian counterparts, the Italian Space Agency and Elettra Sinctrotrone Trieste, with which scientific partnerships and joint projects are being developed.

Business

Google Play introduces UPI Autopay payment in India

Published

on

By

Google announced on Tuesday that it is introducing UPI Autopay as a payment option for subscription-based purchases on Google Play in India.

Introduced under UPI 2.0 by NPCI (National Payments Corporation of India), UPI Autopay helps customers make recurring payments using any UPI application that supports the feature.

“With the introduction of UPI Autopay on the platform, we aim to extend the convenience of UPI to subscription-based purchases, helping many more people access helpful and delightful services – while enabling local developers to grow their subscription-based businesses on Google Play,” Saurabh Agarwal, Head of Google Play Retail & Payments Activation – India, Vietnam, Australia and New Zealand said in a statement.

Moreover, UPI Autopay makes setting up subscriptions easy.

Users need to simply tap on the payment method in the cart, select “Pay with UPI,” and then approve the purchase in their supported UPI app after selecting a subscription plan to purchase.

Google Play helps consumers transact safely and seamlessly in more than 170 markets, according to the report.

Also, the platform supports over 300 local payment methods in over 60 countries, removing complexities associated with finding and integrating local payments.

UPI is one such payment option, introduced on the Play Store in India in 2019.

In India, UPI has transformed the mobile payment framework, and on Google Play as well, many people are enjoying and using apps that take advantage of UPI-based transactions, the statement added.

Continue Reading

Business

Invest Karnataka 2022 paved way for Rs 9.82 lakh cr investment: CM Bommai

Published

on

By

Karnataka Chief Minister Basavaraj Bommai announced at the concluding ceremony of the 3-day Global Investors Meet (GIM) in Bengaluru that “investments totaling about Rs 9.82 lakh have been committed in diverse sectors in the state.” Bommai thanked the participants in the event and investors.

Addressing the gathering, the CM said, “This GIM is different from other such Investor Meets as this has been organised during challenging times and has succeeded in showing us the way forward. What Karnataka thinks today, India thinks tomorrow. We will work with the investors shoulder to shoulder to make all these investments fructify on the ground.”

Thanking all the investors and delegates who participated in the GIM 2022, Karnataka Large and Medium Industries Minister, Murugesh Nirani, said “Invest Karnataka has laid a strong foundation for the development of Karnataka in the next five years. I am happy that we have met the core objective of this GIM, which is to bring in investments in diverse sectors and create jobs, and take industries beyond Bengaluru.”

The valedictory session was also attended by Bhagwanth Khuba, Union Minister of State for New and Renewable Energy, Chemicals & Fertilizers.

Inaugurated by Prime Minister Narendra Modi virtually on Wednesday, the event culminated on Friday with the valedictory session in which Chief Minister Basavaraj Bommai re-assured investors from all across the world of sustained support by his government.

Among top industrialists, Chairman of Jindal Group, Sajjan Jindal; Vice Chairman of Toyota Kirloskar Motor Pvt Ltd, Vikram S. Kirloskar; Chairman, Wipro, Rishad Premji; Vice Chairman, Bharti Enterprises, Rajan Bharti Mittal; CEO, Adani Ports and SEZ, Karan Adani and MD, Sterlite Power, Pratik Agarwal shared their experience in Karnataka and expressed continued interest in the state.

The Global Investors Meet witnessed 30+ immersive sessions spread across three days. These sessions were a mix of innovative formats such as panel discussions, fireside chats, and TED-style talks.

In addition to the speaker sessions, a number of networking events, cultural performances, business exhibitions (with 300+ exhibitors), and country sessions ran parallelly across the 3 days. The country sessions were hosted by partner countries — France, Germany, Netherlands, South Korea, Japan and Australia.

Continue Reading

Business

Unfortunately, there is no choice: Musk on Twitter layoffs

Published

on

By

Elon Musk on Saturday said that there is no choice other than brutally firing half of Twitter’s workforce as the company is losing over $4 million a day.

After axing nearly 3,800 employees across the globe, including in India, the new Twitter CEO said that he has given three months of severance to everyone who has been asked to go.

“Regarding Twitter’s reduction in force, unfortunately there is no choice when the company is losing over $4M/day,” Musk tweeted.

“Everyone exited was offered 3 months of severance, which is 50 per cent more than legally required,” he added.

Musk has laid off people across the departments at Twitter, eliminating several teams across the globe.

He also said that Twitter has seen a massive drop in revenue as activist groups are putting undue pressure on its advertisers.

“Again, to be crystal clear, Twitter’s strong commitment to content moderation remains absolutely unchanged. In fact, we have actually seen hateful speech at times this week decline below our prior norms, contrary to what you may read in the press,” he posted.

“Twitter will not censor accurate information about anything,” said Musk.

On charging $8 for the Blue subscription service, he said: “Trash me all day, but it’ll cost $8.”

The company lost $270 million in the April-June period after revenue slipped 1 per cent to $1.18 billion, reflecting advertising industry headwinds.

Continue Reading

Trending