Author: News Desk
In a significant development, Tata Group is reportedly in advanced stages of acquiring the Karnataka manufacturing unit of Wistron, a Taiwan-based contract manufacturer for Apple. Through its wholly-owned subsidiary, Tata Electronics, Tata Group aims to become the first Indian iPhone maker, according to sources familiar with the matter. Both Tata Group and Wistron declined to comment on the news, while Apple did not respond to inquiries. Apple’s Ecosystem Control Influences Public Announcement Timing The timing of a public announcement regarding the acquisition depends on Apple’s decision, as the company closely manages its ecosystem. It is anticipated that, besides iPhones, the Karnataka plant under Tata Group’s ownership could also assemble other new Apple products. Expansion Beyond iPhone Production and Growth Prospects Tata Group’s move to acquire the manufacturing unit of an Apple supplier is…
In the realm of taxation, the Government collects revenue through various means, including Income tax, Direct taxes, and Indirect taxes. While direct taxes are paid directly to the Government by individuals earning income, indirect taxes are the responsibility of sellers to deposit with the Government. Two examples of indirect taxes are Tax Deducted at Source (TDS) and Tax Collected at Source (TCS). Tax Deducted at Source (TDS): An Overview TDS is an indirect form of tax collection wherein the deduction of tax is made at the point of the recipient’s income. It follows the principle of “pay as you earn”…
To meet the increasing demand for medical services due to labour shortages and an ageing population, Shanghai-based company Fourier Intelligence is developing a humanoid robot called GR-1. With the ability to assist in patient transfer and object manipulation, the GR-1 aims to alleviate the burden on healthcare facilities and provide support to elderly individuals living alone. Rising Demands and Aging Population in China: China’s National Health Commission estimates that the number of individuals aged 60 and above will exceed 400 million by 2035, up from 280 million. In response to this demographic shift, innovative solutions are needed to cater to…
Senior Congress leader and former Chief Minister of Kerala, Oommen Chandy, passed away in Bengaluru on Tuesday morning, according to his family. Chandy’s son, Chandy Oommen, announced his father’s demise through a Facebook post. Survived by his wife Mariamma and children Maria Oommen, Chandy Oommen, and Achu Oommen, the news of Chandy’s death has led to a public holiday being declared in the state, accompanied by two days of mourning. The Mahatma Gandhi University has also postponed all scheduled exams for the day. Oommen Chandy’s Political Journey and Achievements Oommen Chandy served as the Chief Minister of Kerala on two…
In an extraordinary coincidence, passengers aboard an Indigo flight from Chennai to Dhaka were treated to a remarkable sight during the launch of Chandrayaan-3. The aircraft happened to be passing over Sriharikota, the spaceport from where the rocket carrying the Chandrayaan probe was about to take off. The pilot made a special announcement, inviting passengers to witness this historic event. One passenger in a window seat captured the awe-inspiring moment on their mobile phone, sharing a captivating video of the spacecraft’s ascent from the sky. The video quickly gained traction on social media, with the caption “When Aviation Meets Astronomy”…
NASA’s humanoid robot, Valkyrie, has embarked on a new mission in Australia, delivering its advanced capabilities to Woodside Energy in Perth. The collaboration aims to explore the robot’s potential for remote caretaking of uncrewed and offshore facilities, prioritising safety for personnel and the environment. This partnership between NASA and Woodside Energy holds the promise of enhancing operational efficiency and extending human reach through advanced robotic systems. Advancing Robotic Systems for Safer Operations:Shaun Azimi, the lead of NASA Johnson’s dexterous robotics team, expressed enthusiasm about the new phase of development and testing of advanced robotic systems. The deployment of Valkyrie is…
The Indian Institute of Technology (IIT) has witnessed numerous entrepreneurial success stories, but a lack of female representation has been a prevailing issue. However, Neha Singh, the topper of IIT Bombay, defied the odds and shattered the glass ceiling by establishing her own multi-crore startup. Today, her company, Tracxn, not only boasts a substantial valuation but also enjoys backing from prominent investors such as Ratan Tata. A Trailblazing Journey: Neha Singh, an exceptional entrepreneur and IIT Bombay alumnus, serves as the Chairman and founder of Tracxn, an online data tracking company. Despite starting with limited capital, her visionary venture has…
While not in the CEO role, Koushik Chatterjee plays a vital role as the Financial Head of Tata Steel, the flagship company of the Ratan Tata-led conglomerate. As one of the highest-paid Chief Financial Officers (CFOs) in the Tata Group, Chatterjee’s financial acumen has been instrumental in the success of the Rs 1,43,175 crore market cap company. A Top Earner in the Tata Group: Koushik Chatterjee, once the highest-paid CFO of the Tata Group, was surpassed by PB Bajali of Tata Motors in the current year. However, Chatterjee’s annual compensation remains substantial, with a staggering Rs 14,21,18,000 (Rs 14.21 crore) reported in the Tata Steel annual report. This translates to earnings of over Rs 3.89 lakh per day. Financial Journey and Contributions: Chatterjee’s FY2023 earnings slightly declined compared…
Private jets are often a symbol of extreme wealth and luxury, commonly owned by billionaires and prominent figures. However, when it comes to the most expensive private jet, it belongs to Russian businessman Alisher Burkhanovich Usmanov. Let’s delve into the details of his opulent aircraft and explore the private jets owned by other notable billionaires. Alisher Usmanov’s Luxurious Airbus A340-300: Alisher Usmanov, with an estimated net worth of $19.5 billion, possesses an extravagant custom Airbus A340-300. While the base price of the airliner stands at $250 million, Usmanov’s private jet is rumoured to be worth a staggering $400 million (approximately…
Bengaluru’s Autorickshaw Drivers’ Union (ARDU) is taking another innovative step towards enhancing commuters’ experience with the launch of the ‘Metro Mitra’ app. This app aims to improve last-mile connectivity to and from Bengaluru metro stations while bringing back the standard metre culture, promoting professionalism among auto drivers. Reviving Professionalism and Meter Fare Culture Recognizing the declining professionalism among auto drivers, ARDU aims to reintroduce the standard metre fare model to restore trust and ensure fair pricing. Rudramurthy, a representative of ARDU, emphasised the importance of adhering to government norms and reviving the use of metres to uphold professionalism. Trial Run…