Author: News Desk
Delayed payments have long been a hurdle for Micro, Small, and Medium Enterprises (MSMEs), impacting their working capital and market competitiveness. The government’s Samadhaan portal, launched in October 2017 to address delayed payments, has recorded a substantial 1.68 lakh complaints involving almost Rs 40,000 crore in delayed payments. MSME-1 Form Introduction To combat this issue and ensure timely payments, the government introduced the MSME return form, known as the MSME-1 form, in January 2019. This move aims to track outstanding dues and provide a mechanism for MSMEs to address late payment challenges.Companies categorised as ‘Specified Companies’ under Section 405 of…
Fitch Ratings, a leading rating agency, anticipates India to emerge as one of the fastest-growing nations globally in the next fiscal year, projecting a resilient GDP growth of 6.5% in 2024-25. In the ongoing fiscal year, Fitch estimates India’s GDP to grow at a noteworthy rate of 6.9%. The rating agency highlights that demand is expected to remain robust for essential sectors such as cement, electricity, and petroleum products. Fitch notes that high-frequency data in 2023 indicates sustained levels well above those observed before the Covid-19 pandemic. Infrastructure Boom Boosting Steel Demand India’s escalating infrastructure spending is poised to drive…
Hyundai Motor India has announced a thrilling collaboration with Red Bull for the inaugural Red Bull Urban Downhill, a high-speed mountain biking event set to take place in Aizawl, Mizoram, in March 2024. This partnership marks the first-ever collaboration between Hyundai Motor India and Red Bull in India, bringing together the dynamic worlds of automotive innovation and extreme sports. An Adrenaline-Packed Adventure Course Red Bull Urban Downhill is not your typical mountain biking event. Athletes navigate a downhill adventure course filled with various obstacles and high jump ramps, promising an adrenaline-packed experience for participants and spectators alike. Hyundai’s Outdoorsy Spirit…
Gandhiji’s place of birth, Gujarat, recently witnessed a significant shift in its liquor policies. The Gujarat government, on a Friday, granted permission for alcohol consumption within hotels, restaurants, and clubs offering ‘Wine and Dine’ services in the Gujarat International Finance Tec-City (GIFT City) in Gandhinagar. Notably, Gujarat is renowned for being a dry state, where the sale and consumption of alcohol are restricted. According to an official notification, all employees and owners working within the entire GIFT City will now be eligible for a liquor access permit. This development is noteworthy as it marks a departure from the traditional prohibition…
The Geological Survey of India (GSI) is embracing cutting-edge technologies such as drones, Artificial Intelligence (AI), and Machine Learning (ML) to revolutionize mineral exploration, according to a PTI report. This strategic move is aimed at enhancing efficiency, accuracy, and resource optimization, leading to the identification of hidden mineral deposits, as per an official statement. Janardan Prasad, the Director General of GSI, highlighted the increasing popularity of AI and ML technologies in mineral exploration. These advanced tools facilitate the integration of diverse datasets using proven machine learning algorithms, ensuring precise delineation of potential mineralization areas. The application of AI, in particular,…
OpenAI, the renowned artificial intelligence powerhouse headquartered in San Francisco, is reportedly in the early stages of discussions to secure a new round of funding, with an ambitious valuation goal surpassing $100 billion. The details of this potential funding, including terms and precise timing, are still in flux and subject to adjustments, according to a Bloomberg report. In addition to the broader funding discussions, OpenAI is said to be in talks with G42, based in Abu Dhabi, regarding funding for a new chip project. While the connection between the chip venture discussions and the overarching funding initiative is not explicitly…
NASA made a captivating announcement on Tuesday, revealing the discovery of NGC 2264, a cluster of youthful stars forming a striking resemblance to a Christmas tree adorned with bright lights. Situated in the Milky Way, approximately 2,500 light-years away, this celestial gathering, famously known as the “Christmas Tree Cluster,” features stars aged between 1 and 5 million years. In this latest image of NGC 2264, the cosmic tree shape is illuminated by the radiant glow of stellar lights. The cluster boasts a diverse range of stars, varying in size from less than a tenth of the Sun’s mass to others…
Dubai’s Roads and Transport Authority (RTA) unveiled a prototype e-bike tailored for delivery companies, signaling a strategic move towards environmentally friendly transport. Muhannad Khaled Al Muhairi, Director of Commercial Transport Activities at RTA’s Licensing Agency, reportedly emphasized that the initiative aims to enhance current and future commercial transport services, promoting the transition to zero-emission transportation. Collaborating with industry experts, RTA conducted extensive research to develop an e-bike model specifically suited for the demands of delivery services. The goal is to encourage businesses to adopt green and eco-friendly transportation methods. As part of the initiative, plans are underway to establish charging…
The holiday spirit is officially in full swing as Christmas approaches, transforming Dubai into a magical winter wonderland. From towering Christmas trees and gingerbread houses to snowy playgrounds and surfing Santas, the city is adorned with festive delights. In this guide, discover the extraordinary ways Dubai celebrates Christmas, offering a unique and unforgettable experience unlike anywhere else in the world. Get ready to explore everything on your festive checklist and anticipate the extraordinary celebrations that await in this vibrant city. Gingerbread House You may have seen various gingerbread houses but here is one with a difference. At the lobby of…
Recent incidents involving young drivers engaging in dangerous stunts and reckless driving in Dubai have resulted in serious injuries and fatalities, prompting concerns about the motivations behind such risky behaviour. Stunt Driving’s Allure and Social Media Fame Driven by a desire for cheap thrills, adrenaline rushes, and the pursuit of social media attention, some young residents in Dubai admit to participating in stunt driving. The allure of creating attention-grabbing ‘reels’ for social media platforms has fueled the trend, with some individuals seeking validation through risky driving manoeuvres.The temptation of overspeeding, defined as driving 40kmph or more above the posted speed…