Author: News Desk
Global shipping leader A.P. Moller Maersk is set to invest $5 billion in India’s ports, terminals, and logistics infrastructure. Keith Svendsen, CEO of APM Terminals, confirmed this in an exclusive interview, emphasizing India’s growing role in global trade. Focus on Pipavav and Vadhavan Ports Maersk’s investment will primarily focus on expanding the Pipavav terminal and developing a container terminal at the upcoming Vadhavan Port. The company is keen on upgrading Pipavav by dredging to accommodate larger ships, ensuring it remains future-ready. Vadhavan’s project will move forward based on the government’s bidding process, with Maersk already earmarking funds for development. Strengthening Logistics and Supply Chain Apart from port infrastructure, Maersk is expanding its…
Technicolor India, a leading visual effects (VFX) and animation studio, has shut down its operations in Bengaluru and Mumbai, impacting nearly 3,000 employees. The decision follows financial troubles faced by its parent company, Technicolor Group, which filed for a court recovery process in France due to its inability to secure investors. Employees Left in Shock The shutdown was sudden, with India’s management learning about it only through an email from Technicolor Group CEO Caroline Parot. Employees, many of whom worked on major Hollywood productions, were caught off guard. Some were not even allowed into office premises to collect their belongings.…
Adani Group is set to expand its airport retail business to over 270 stores, aiming to boost non-aeronautical revenues. The group plans to enter various retail categories, including electronics, beauty, chocolates, alcohol, lifestyle products, and food services. Beyond Airports – Highways and Malls The company plans to extend its retail operations beyond airports to highways and malls, positioning itself as a competitor to Tata, Reliance, and global brands like Domino’s and Yum Brands. Growth Strategy Currently, Adani Airport Holdings Ltd generates less than half of its revenue from non-aero businesses. The goal is to push this to three-fourths by taking…
Meta, led by Mark Zuckerberg, has dismissed around 20 employees for leaking confidential information to the media. A company spokesperson confirmed the action and indicated that more terminations would follow. Meta’s Stance on Information Leaks A Meta representative stated that employees are regularly reminded about the company’s policies against sharing internal details. “We recently conducted an investigation that resulted in roughly 20 employees being terminated for sharing confidential information outside the company, and we expect more terminations,” the spokesperson said, emphasizing the company’s strict approach to leaks. Declining Employee Morale Reports suggest that morale among Meta employees has dropped, especially…
Many people wonder how much cash they can deposit or withdraw from their savings account without facing scrutiny from the Income Tax Department. According to tax rules, total cash deposits or withdrawals exceeding ₹10 lakh in a financial year will be reported by banks, even if spread across multiple accounts. Daily Cash Transaction Limits Under Section 269ST of the Income Tax Act, a person cannot withdraw more than ₹2 lakh in a single transaction or multiple linked transactions in a day. If the total cash deposits across all savings accounts exceed ₹10 lakh in a year, banks must report it…
Shivon Zilis is a name synonymous with innovation, artificial intelligence, and tech breakthroughs. As a key executive at Neuralink, an AI expert, and a former project director at Tesla, Zilis has long been at the forefront of the technological revolution. But behind her success, there’s a part of her identity that’s lesser known — her Indian heritage. Indian Roots in a Global Tech Landscape Shivon Zilis, born and raised in Markham, Ontario, Canada, has a Punjabi Indian mother and a Canadian father. Her Indian connection is something that Zilis cherishes and often reflects on. In an interview with USA Today,…
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai, has announced the completion of the Etihad-SAT space project, which is scheduled for launch in March 2025. This advanced satellite employs cutting-edge imaging technology designed to function effectively under various weather conditions. Collaboration and Technology Etihad-SAT represents a significant milestone in the UAE’s space endeavors, developed through a strategic partnership between the Mohammed Bin Rashid Space Centre and South Korea’s Satrec Initiative. The satellite utilizes advanced Synthetic Aperture Radar (SAR) technology, enhancing its capabilities for earth observation and data collection. Vision for the Future In his announcement,…
In a recent conversation with channeliam.com, Jean Mane, President and CEO of Mane Group, discussed the company’s strong presence in India through its subsidiary, Mane Kancor. He shared insights into the journey and significance of this partnership, the strategic role of Kerala in the spice and natural extracts business, and the evolving position of India in the global spice and food flavoring industry. Significance of the Mane Kancor Partnership Jean emphasized that the partnership’s significance lies in the strong relationships established with local families. The collaboration began with a modest investment in a joint venture, which laid the groundwork for mutual…
A viral claim suggests that ₹500 notes with a star symbol (*) are fake. However, Channeliam Fact Check confirms that this claim is false. These notes are legally issued by the Reserve Bank of India (RBI) and remain valid currency. RBI’s Official Statement The RBI introduced ₹500 notes with a star symbol in December 2016 as part of the Mahatma Gandhi (New) Series. These notes include an additional ‘*’ (star) in the number panel but remain legal tender. In a press release dated December 16, 2016, the RBI clarified that: Purpose of the Star Symbol The star-marked banknotes help replace defective…
Assam’s investment and infrastructure summit wrapped up with proposals totaling ₹4.91 lakh crore, nearly five times the amount secured in 2018. Prime Minister Narendra Modi inaugurated the event, emphasizing Assam’s growth potential. Major Sectors and Investors The summit resulted in 270 MoUs across sectors such as power, IT, health, tourism, and agriculture. Major players like Reliance, Adani, Vedanta, Tata Group, and Jindal committed ₹1.25 lakh crore, while government projects accounted for ₹78,000 crore. International Participation The event attracted 67 heads of missions from 76 participating countries, with over 14,500 attendees. Notably, 121 speakers participated, including six Union ministers. Infrastructure and…