Author: News Desk
Facebook has agreed to pay $650 million to settle a class-action lawsuit alleging that the company’s facial recognition technology violated Illinois’ biometric privacy law by collecting and storing biometric data without users’ consent. The settlement was approved by a federal judge in California and will compensate eligible users who were Facebook users in the US since 2011. If you meet the eligibility criteria, you can file a claim on the settlement website. The minimum payout is $345, and the actual amount will depend on the number of valid claims filed. This settlement is one of the largest in the history…
The Union Cabinet on Wednesday authorised the National Quantum Mission (NQM) at a cost of Rs.6,003.65 crore, giving India’s efforts to advance quantum technology a significant boost. Over the period of eight years (2023–24 to 2030–31), the mission will have specific milestones that must be met. The mission would strive to seed, foster, and scale up scientific and industry research and development, as well as establish a “vibrant and innovative” ecosystem in quantum technology in India, according to Science and Technology Minister Jitendra Singh, who was speaking at the cabinet briefing. According to him, this would foster India’s ecosystem, accelerate the economic growth driven by quantum technology, and position India as a leader in the development of quantum technologies and applications (QTA). The US,…
The Ministry of Industry and Advanced Technology (MoIAT) is hosting high-potential technology start-ups with a focus on sustainability and decarbonization to participate in a start-up competition launched ahead of COP28. This is in line with UAE Net Zero 2050 and their direction toward sustainable economic development and industrial decarbonization. The Ministry established the Make it in the Emirates Start-up Competition to give technological start-ups a venue where they can network with industry partners, meet investors, and discuss policy. The competition enables transformational start-ups looking to make a worldwide impact with the chance to display and propose new breakthroughs and technologies, as well as to learn from some of the most accomplished experts in manufacturing, sustainability, and other related industries. The competition will also provide the start-ups with the opportunity to further develop and deploy their technologies in the UAE in collaboration with various…
The RoDTEP scheme is a significant initiative by the Indian Government to promote exports and support the growth of MSMEs and the EXIM sector. With the refund of various duties and taxes paid by exporters, the scheme will reduce the cost of exports and make Indian products more competitive in the International Market. It will also improve the cash flow of MSMEs and reduce the working capital requirements, promoting Entrepreneurship and Innovation in the EXIM sector. The scheme will replace the existing MEIS scheme and will cover all export products, including Textiles and Handicrafts. It will be implemented from January…
Razorpay establishes an advisory board naming a former RBI Deputy Governor as its chair Razorpay, a leading Indian Fintech company, has recently announced the formation of an Advisory Board and the appointment of H.R. Khan, former Deputy Governor of the Reserve Bank of India (RBI), as its chairperson. The new advisory board will offer strategic advice and expertise to Razorpay’s leadership team to aid the company’s growth and expansion efforts. The move is also a part of Razorpay’s larger goal to become a dominant player in the Indian Fintech sector. Apart from Khan, the advisory board will also include other…
Mukesh and Nita Ambani, two of the wealthiest couples in the world who are well renowned for their extravagant lifestyles, are business tycoons from India. Akash Ambani, the son of Mukesh Ambani, married Shloka Mehta in 2019. The Mumbai event attracted a large number of celebrities. After four years of marriage, people are now debating Shloka’s present to Akash’s mother Nita Ambani. One of the most costly diamond necklaces in the world was given to Nita Ambani’s daughter-in-law. This necklace is valued at $55 million, or nearly 450 crores of rupees. When jewellery influencer Julia Hackman created a video showcasing the diamond’s characteristics, the valued present once again became the talk of the town. This ‘L’Incomparable’ necklace was created by Lebanese jeweller Mouwad. There are 91 diamonds…
The need for a robust “Toyconomy” is being driven by Indian children. Where are the Indian toys, though? India is home to one of the largest populations of children in the world, making it a massive market for toys. However, despite the increasing demand for toys in the country, there is a significant shortage of domestically produced toys. The Indian toy industry faces several challenges that make it difficult to compete with cheaper imported toys. One of the primary challenges faced by Indian toy manufacturers is the lack of government support and investment in research and development, infrastructure, and raw materials. This has resulted…
Foxconn looks to expand Chennai iPhone facility Foxconn, the largest contract electronics manufacturer in the world, is planning to expand its iPhone production facility located in Chennai, India. The move is part of the company’s strategy to diversify its supply chain and reduce its reliance on China. The expansion is expected to help Foxconn meet the growing demand for iPhones in India and other markets, as well as increase its production capacity. The Chennai facility, which currently produces iPhones for the Indian market, will reportedly produce iPhones for export to other countries as well after the expansion. However, the details of the expansion,…
IIT Indore and NASA-Caltech collaborate to develop a low-cost camera setup that captures multispectral imaging of chemical species in a flame. The Indian Institute of Technology (IIT) Indore has created a low-cost camera configuration that can give multispectral imaging of four chemical species in a flame using a single DSLR camera in partnership with NASA-Caltech from the US and Sweden’s University of Gothenburg. While earlier scientific imaging required a complex system with four cameras, it can simultaneously capture multiple spectral three-dimensional images of four chemical species in a flame using just a single DSLR camera, according to Devendra Deshmukh, a professor…
Password crackdown on the way as Netflix users reach record levels Netflix has achieved a new milestone with a record high number of subscribers, which is a testament to the company’s efforts to expand its user base. However, the streaming giant is planning to crack down on password sharing among its users, which has been a longstanding challenge for the company. The crackdown will be implemented in a phased manner, with a combination of technological measures and stricter policies, and is aimed at retaining more paying customers and increasing revenue and profits. While Netflix has been somewhat lenient with password…