Author: News Desk
Plastic Whale Sculpture Shines Spotlight on Sustainable Practices in Dubai. At Dubai’s only Indoor Tropical Rainforest, an 18-meter-long blue whale made of plastic bottles and bags conveys the urgent need for waste reduction and sustainable practices. The life-size blue whale, constructed from over 8,000 plastic bottles and 1,000 plastic bags, will be on display at The Green Planet prior to World Environment Day on June 5. The life-size sculpture that aims to raise awareness about the significance of nature conservation took more than 800 hours to construct. The authorities’ disclosure of the blue whale will happen on Monday, June 5, and it will be open for…
Tata’s Game-Changing Battery Factory in Gujarat On Friday, the Tata group and the Government of Gujarat reached an outline agreement for the construction of a factory for lithium-ion cells. The factory will require an investment of approximately Rs 13,000 crore, or $1.6 billion. India is looking to establish its own supply chain for electric vehicles (EVs). The decision to establish the EV battery plant in Sanand, Gujarat, was made earlier this week at a Tata Sons Board meeting, according to sources close to the development. Tata Motors has acquired the nearby Ford Motors plant and already operates a plant at…
Streaming Giants Consider Strategies to Counter India’s New Tobacco Warning Rules. Streaming giants Netflix, Amazon, and Disney are reportedly exploring strategies to confront India’s recently implemented tobacco warning rules. These rules, which require streaming platforms to incorporate health warnings and anti-tobacco disclaimers in their content, have raised concerns about the extensive editing required for millions of hours of existing web content. In response to these regulatory changes, executives from the streaming companies and India’s Viacom18 held a closed-door meeting to discuss potential courses of action, including the possibility of a legal challenge. India’s New Tobacco Warning Rules India’s Health Ministry…
Rising Concerns: Tackling Counterfeit Currency in India Counterfeit currency poses a significant challenge to India’s financial system, and recent reports reveal a worrisome trend. With fake notes circulating in the market, it becomes crucial for individuals and businesses to stay vigilant and take necessary precautions. This article delves into the extent of counterfeit currency, its impact on different denominations, and provides guidance on identifying and handling fake notes. Prevalence of Fake Notes: The Reserve Bank of India’s annual report sheds light on the prevalence of counterfeit currency in India. Notably, fake 500 rupee notes are more common than their 2000…
UAE Maintains Tax-Free Income System, Implements Corporate Tax for Economic Growth. The UAE authorities have made it clear that there are no intentions to introduce income tax. Ministry of Finance Undersecretary Haji Al Khoori emphasised that the UAE has no plans to implement a personal income tax. This statement reaffirms the Government’s commitment to maintaining a tax-free income environment for individuals in the UAE. The Minister of State for Foreign Trade, Dr Thani bin Ahmed Al Seyudi, also previously stated that personal income tax was not under consideration. No Corporate Tax on Personal Income Haji Al Khoori further clarified that…
The National Payments Corporation of India (NPCI) announced a significant milestone for the Unified Payments Interface (UPI), as it keyed-in a record-breaking 9 billion transactions in May. This article delves into the latest achievements of UPI, its projected growth, and the evolving landscape of digital payments in India. UPI’s Phenomenal Growth: The NPCI, the governing body for retail payments and settlement systems in India, reported the exceptional performance of UPI, hailing it as a major success in real-time mobile payments. With over 9 billion transactions in May, UPI continues to offer seamless and convenient payment options to users across the…
Meta Unveils Quest 3 Mixed Reality Headset: Aiming to Rebound in the Reality Labs Market. Declining Revenues Prompt New Product Launch In an effort to recover from declining revenues in the Reality Labs segments, Meta founder and CEO Mark Zuckerberg unveiled the company’s highly anticipated next-generation mixed reality headset. The Quest 3, a cutting-edge colour mixed reality headset, is set to hit the market ahead of rival Apple’s planned launch of a VR/AR mixed reality headset during the Apple WWDC 2023. Combining Augmented and Virtual Reality The Quest 3 aims to revolutionise the immersive experience by seamlessly integrating augmented and…
Dubai, known for its impressive architectural wonders, is set to welcome a new addition to its skyline with the grand unveiling of Palm Jebel Ali. Spanning an expansive area of 13.4 square kilometres, this prestigious development will be twice the size of Palm Jumeirah and represent a significant milestone in Dubai’s continuous growth. Promising a sophisticated and enchanting ambiance, Palm Jebel Ali will feature awe-inspiring waterfalls, sprawling green spaces, and unparalleled waterfront experiences. The project is poised to add approximately 110 kilometres of pristine coastline to Dubai, offering around 35,000 families the opportunity to indulge in the epitome of luxury…
Hitachi Payment Services, a leading payment solutions provider in India, has announced the launch of its Digital Payments Innovation Hub. The hub aims to foster collaboration with Fintech startups in India and the extended Asia-Pacific region. This initiative expands Hitachi’s existing partnership with Plug and Play, which already has a presence in Japan and the US. The primary goal of the partnership is to bring innovative products and platforms into the Hitachi Payments ecosystem, providing startups with capital, integration with the Hitachi Payments stack, and access to its customer network and platform for scaling up. Furthermore, the collaboration seeks to…
In a significant boost to the startup ecosystem, the Kerala Government has taken a proactive step by raising the procurement limits for startups registered with the Kerala Startup Mission (KSUM). This move is aimed at fostering innovation, encouraging entrepreneurship, and creating more avenues for startups to thrive in the state. The Government has announced an increase in the ceiling for public procurement, allowing government departments, public sector undertakings (PSUs), boards, corporations, and local self-government institutions to purchase products and services worth up to Rs 3 crore from startups registered under KSUM. The decision to raise the procurement limits was made…