Author: News Desk
The largest tourist vessel of its kind in Kerala, the luxury ferry “Classic Imperial,” has been essentially inaugurated by Union Minister of Road Transport and Highways Nitin Gadkari. Speaking at the event, the Minister stated that Kerala in particular offers countless opportunities for cruise tourism in the nation. There will be a significant effort to get the financial industry to provide further funding for the building of ships. According to a news statement issued by the program’s organizers, the Union Minister praised the vessel’s commissioning. “The vessel has enhanced his professional and entrepreneurial abilities. The businessman who created the luxurious…
On November 29, the government declared that the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY), which offers free food grains to 80 crore underprivileged people, would be extended for a further five years, till December 2028. Union Minister Anurag Thakur stated that the prolongation will cost the exchequer INR 11.8 lakh crore during a Cabinet briefing. The postponement will take effect on January 1, 2024. On November 28, the Cabinet met under the direction of Prime Minister Narendra Modi, and a decision was made in this regard. Recipients of the Pradhan Mantri Garib Kalyan Anna Yojana receive five kilograms of…
In a significant development reported by the Wall Street Journal on Tuesday, Apple is set to terminate its collaboration with Goldman Sachs Group for its credit card. Individuals familiar with the matter have revealed that the tech giant has proposed concluding the partnership within the next 12 to 15 months. Virtual Credit Card Origins: Apple and Goldman’s 2019 Venture The collaboration between Apple and Goldman Sachs began in 2019 with the introduction of a virtual credit card. The move marked a foray into the financial services sector for both entities, aiming to provide consumers with innovative and digital-first financial solutions.…
In a groundbreaking development, India is set to witness its first citizen’s space travel since Rakesh Sharma’s iconic journey in 1984. The United States, through NASA, has pledged assistance in training and sending an Indian astronaut to the International Space Station (ISS) by the end of 2024. This announcement was made by NASA Administrator Bill Nelson during his visit to India, where he commended the nation’s achievements in space exploration. Collaboration for the Space Odyssey The collaboration between the United States and India marks a significant milestone in space exploration cooperation. NASA, a key player in space endeavours, will play…
In order to split the hospital chain from its Indian parent, Aster DM Healthcare (ATRD.NS) has decided to sell a controlling interest in its Gulf operations to a regional investment group for $1 billion. The year-long sale process, which began when some investors believed the company was undervalued, has come to an end with the transfer of a 65% interest to a group headed by private equity firm Fajr Capital. In the fourth quarter of the fiscal year that ends in 2024, the sale is expected to close. As per reports, the buyer would own 35:65 shares, with money handled…
The significance of upskilling, reskilling, and training the workforce worldwide is highlighted by the advent of Gen AI and other recent changes in the employment sector. This shift is highlighted in the World Economic Forum white paper “Jobs of Tomorrow: Large Language Models and Jobs,” which was previously created in partnership with Accenture. It lists the chores and positions that will be automated, and those that will be enhanced. Large Language Models (LLMs) are deep learning algorithms that are nearly human-level proficient in terms of recognition, summarization, translation, prediction, and content generation. In August 2023, the ILO published a working…
The Emirates ID card is an essential document for residents in the UAE, serving as proof of identity and residency details for all official documentation. However, failure to renew or update the card within 30 days from the expiry date comes with consequences – late fines of Dh20 per day, reaching a maximum of Dh1,000. The good news is that exemptions from these penalties are available under specific circumstances. Criteria for Exemption Eligibility The Federal Authority for Identity, Citizenship, Customs, and Port Security has outlined clear eligibility criteria for individuals seeking exemption from late fines. These circumstances include: Extended Absence…
Warren Buffett, renowned for his stock-picking prowess and commitment to value investing, has added a new stock to Berkshire Hathaway’s portfolio during the third quarter. However, what sets this move apart is Buffett’s decision to keep the details of this acquisition under wraps, creating a buzz in the financial world. Unveiling the Mystery Stock In the recent quarterly 13F filings, Berkshire Hathaway disclosed the addition of a new stock without revealing its identity to the public. This departure from the norm has left analysts and investors speculating whether Buffett has ventured into yet another value stock, known for their solid…
Beloved as Warren Buffett’s closest ally, billionaire philanthropist and vice chairman of Berkshire Hathaway Charlie Munger passed away in California on Tuesday night at the age of 99. After Buffett’s tenure as vice chairman at Berkshire Hathaway for many years, the company said it was “advised by members of Charlie Munger’s family that he peacefully died this morning at a California hospital.” In a statement, Warren Buffett stated, “Charlie’s inspiration, wisdom, and participation could not have been built to Berkshire Hathaway’s present status.” Munger was not only the vice chairman of Berkshire, but also a real estate lawyer, the chairman…
Over the past few years, Jordan has emerged as a thriving hub for start-ups, with a significant uptick in investments from 2018 to 2022. This surge in funding has propelled the country to become the fourth most funded and transacted market in the Middle East and North Africa (MENA) region, according to a study conducted by start-up data platform Magnitt. Investment Landscape 1. Position in MENA Jordan has secured its position as a regional leader in technology, attracting approximately $246 million in capital through 220 deals since 2018. While the UAE, Saudi Arabia, and Egypt lead the charts in terms…