BUSINESS
Over 15K tech workers lose jobs in May globally
According to layoff aggregator layoffs.fyi, more than 15,000 tech workers have lost their jobs this month, reports TechCrunch. Since March 2020 when the Covid-19 pandemic started, 1.25 lakh employees have been laid off by around 718 startups globally. Tech companies are facing multiple issues like rising inflation, recession fear, Russia-Ukraine war.
Musk clarifies why he will not manufacture Tesla cars in India
On Starlink, he said that SpaceX is still waiting for the Indian government's approval. "Tesla will not put a manufacturing plant in any location where we are not allowed first to sell & service cars," Musk tweeted late on Friday. He responded to a user asking about the companya's manufacturing plans for India.
After two years, India-Myanmar border trade to resume soon
The External Affairs Ministry's Border Management (BM) Division earlier this week has sent an advisory to Manipur Chief Secretary Rajesh Kumar to resume India-Myanmar border trade. A senior official of the ICP, Moreh on Friday said that on the basis of the MEA advisory, which is available with the IANS, the Manipur government would soon issue a formal order to resume the trades between India and Myanmar.
Indo-Pacific Economic Framework Initiative - a game changer
The recently launched Indo-Pacific Economic Framework (IPEF) marks the beginning of a new phase of economic cooperation and integration in the region juxtaposed against China's ambitious Belt and Road Initiative (BRI) and Regional Comprehensive Economic Partnership (RCEP) led by it. There are genuine concerns regarding China's rise to power with regional and global implications.
Zilingo's ex-CEO Ankiti Bose seeks protection from abuse by Twitter user
In an Instagram post, Bose mentioned that her photos, chats, and documents were accessed and shared without her consent. "Today I obtained an Expedited Protection Order from the Singapore court against a Twitter user," she posted on the Meta-owned photo-sharing platform.
Tech Mahindra inaugurates 5G innovation lab in US
The innovation Lab in Bellevue, WA will curate vertical solutions in the telco space to help customers achieve their future business ambitions through 5G and related technology. The lab will combine an ecosystem of partners (both telecom and cloud) and help build end-to-end solutions for enterprises.
Sacked fund manager slaps legal notice on Axis MF
Joshi was first suspended and later relieved of his charge on May 18, as per a statement issued by the AMF on May 19, for his purported role against allegations of 'front-running' (or, tailgating) at the company which conducted an internal probe into the matter.
Reliance subsidiary SankhyaSutra unveils 'make in India' software at Drone fest
According to the company, achieving accurate simulation of turbulent flows often required in aerospace and defence designing is a challenging task due to the involvement of multiple scales of swirling motions, also known as vortices. SankhyaSutra Labs said it develops next-generation high-fidelity CFD tools that do not use approximate turbulence models.
Ex-Twitter India head Maheshwari quits startup he founded 6 months ago
Founded by Maheshwari and Tanay Pratap just six month ago, Invact Metaversity in February received $5 million in funding led by Arkam Ventures to build a metaverse of education and expand globally. "I am moving out of Invact to first take a break for a few months and then pursue new opportunities.
Money laundering case: Avantha Group promoter gets interim bail
Thapar was given bail on furnishing the two surety bonds of Rs 50,000 each with other conditions. On May 23, after submissions of Thapar seeking interim bail for medical treatment, the bench of Justice Jasmeet Singh had issued notice to the Enforcement Directorate (ED).
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