Hyderabad: Telangana Industries and Information Technology minister KT Rama Rao inaugurated four IT companies in Hanamkonda on Friday: LTI Mindtree, Genpact, HRH Next, and Hexad Solutions Private Limited.
The Minister presented appreciation letters to representatives of the enterprises for establishing their operations in Hanamkonda.
The IT minister began talks with Genpact approximately 18 months ago, with its CEO Tiger Tyagarajan in 2021. Students from nearby institutions have already been engaged by the four enterprises, a press note informed.
Genpact employed 400 colleagues from local colleges, LTI Mindtree hired over 60, HRH Next hired 120, and Hexad Solutions Group hired over 50. HRH Next Planning intends to expand its workforce to around 500 people in the following months. At Warangal Design Centre, Hexad Solutions Group provides engineering and design services for wireline, wireless, and CATV communications.
Hyderabad has achieved major advances in information technology by attracting top worldwide businesses including as Google, Microsoft, Amazon, Qualcomm, Uber, Micron, Wells Fargo, Bank of America, JP Morgan Chase, and UBS. Mahindra, MRF, Olectra, Mythra, and Race Energy have also opened new locations in Telangana. In Hyderabad, ZF, Frisker, Stellantis, Hyundai, and Biliti have established campuses.
Hyderabad has become a preferred location through establishing a regulatory framework, infrastructure, and access to human resources. Hyderabad’s exports are expected to exceed 2.2 lakh crore in 2022-23, representing an almost 20% increase year on year from 1.83 lakh crore. With a total employment of 785,614 direct employees in 2021-22, the IT sector added over 1.5 lakh jobs in 2021-22 alone, the press note said.
The IT Centres at Warangal, Karimnagar, and Khammam are already up and running, producing local jobs and having a multiplier effect on the local economy. As an extension of that concept, the state government is currently establishing IT Towers in Mahabubnagar, Siddipet, Nizamabad, and Nalgonda by July 2023, to cater to the rural expansion of IT, the IT ministry said.
LPG Cylinder Price Today: Oil Marketing Companies Revise LPG Gas Cylinders price- Check New Rates Here
The government has slashed the prices of 19 kg commercial LPG cylinders with effect from May 1. After the recent revision, the cost of a commercial LPG cylinder has gone down by Rs 171.50. A 19 kg LPG cylinder will be available at a cost of Rs 1,856.50 in Delhi from today.
Cost of 19 kg commercial cylinder in Mumbai is Rs 1,808.50 whereas it costs Rs 1,960.50 in Kolkata. A 19 kg LPG cylinder sells for Rs 2,021.50 in Chennai with effect from today. Prior to this revision, a 19 kg LPG cylinder cost Rs 2,028 in Delhi, Rs 2,132 in Kolkata, Rs 1,980 in Mumbai, and Rs 2,192.50 in Chennai respectively, as per Indian Oil Corporation (IOC).
Cost of 19 kg commercial cylinder in Mumbai is Rs 1,808.50 whereas it costs Rs 1,960.50 in Kolkata. A 19 kg LPG cylinder sells for Rs 2,021.50 in Chennai with effect from today.
Petroleum and oil marketing companies had on March 1 this year hiked the prices of commercial LPG cylinders by ₹350.50 per unit and domestic LPG cylinders by ₹50 per unit.
The prices of the commercial cylinders were reduced the last time in September 1 last year by ₹91.50. On August 1, 2022, too, the prices of commercial LPG cylinders were reduced by ₹36. Prior to that, on July 6, rates for the 19-kilogram commercial cylinder were cut by ₹8.5 per unit.
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Activision has said it will “work aggressively” with Microsoft to overturn the U.K. competition regulator’s decision to block Microsoft’s proposed takeover of the game developer.
Microsoft and Activision were confident of approval after agreeing remedies to address concerns raised by the Competition and Markets Authority (CMA). But the CMA said on Wednesday that the proposed solution “failed to effectively address the concerns in the cloud gaming sector.”
It said: “The deal would reinforce Microsoft’s advantage in the market by giving it control over important gaming content such as Call of Duty, Overwatch, and World of Warcraft.”
A spokesperson for Activision said the CMA’s report “contradicts the ambitions of the U.K. to become an attractive country to build technology businesses… The report’s conclusions are a disservice to U.K. citizens, who face increasingly dire economic prospects. We will reassess our growth plans for the U.K.
“Global innovators large and small will take note that — despite all its rhetoric — the U.K. is clearly closed for business.”
Microsoft submitted proposals earlier this year to address some of these concerns but the CMA said they contained “a number of significant shortcomings” as they only applied to a defined set of Activision games.
Martin Coleman, chair of the independent panel of experts conducting the investigation, said: “Microsoft already enjoys a powerful position and head start over other competitors in cloud gaming and this deal would strengthen that advantage giving it the ability to undermine new and innovative competitors.”
Brad Smith, vice chair and president of Microsoft said the company would appeal and remained “fully committed” to the deal.
“The CMA’s decision rejects a pragmatic path to address competition concerns and discourages technology innovation and investment in the United Kingdom.” He said the decision showed a “flawed understanding” of the market.
Microsoft agreed to buy Activision in a $69 billion deal in January 2022, prompting investigations in the U.K., EU and U.S.
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( With inputs from : www.politico.eu )
LUXEMBOURG — Ukrainian Foreign Minister Dmytro Kuleba on Monday implored EU foreign affairs ministers to move faster on their promises to supply Kyiv with ammunition. But his plea came as officials were given new details showing the EU still has a long way to go to meet its lofty pledges.
According to several diplomats, Kuleba — who addressed a meeting of foreign ministers in Luxembourg via video link — was critical of the slow pace of the EU in delivering ammunition and missiles as part of a plan to provide 1 million shells in the next 12 months as Ukraine fights off Russia’s invasion.
The plan has already been endorsed by EU leaders but, when it comes to the technical details, has only been partially agreed upon by member states, which are still discussing the so-called track two of the scheme, which involves the joint purchase of ammunition.
The bone of contention is a legal one about exemptions for companies based outside the EU in the supply chain of the defense companies involved in the plan, but in the background doubts also remain as to whether the EU defense industry can really deliver all of these shells.
Kuleba on Monday “repeated that Ukraine needs desperately the ammunition to stand against the Russian attacks, and also to organize the counterattack,” Margus Tsahkna, the foreign minister of Estonia, which put forward the ammo plan, told POLITICO. “And ammunition is crucial.”
The problem is not only the speed of the EU in delivering the ammo, but also the quantity. The plan is being funded by a pot of money called the European Peace Fund, which partially reimburses the member states for ammo and missiles. That cash, meant to help provide ammunition quickly, comes from the so-called track one of the plan — worth a total of €1 billion — which has already been fully agreed upon. EU top diplomat Josep Borrell, speaking to journalists Monday, said that “we have received requests for reimbursement for €600 million.”
Yet according to three diplomats, not all the material that member states want reimbursing for has actually been delivered. Of the €600 million that Borrell mentioned, €180 million was for the provision of 1,080 missiles (six of which have not yet been reported as delivered) and the rest of the money was for 41,000 pieces of ammunition, of which 28,000 have not been reported as delivered, the diplomats said.
Those numbers are well short of 1 million.
Kuleba stressed “that if there is one priority, and if it’s a single burning issue, this is weapons delivery, in particular ammunition … he also asked for not being hesitant on delivering the aircraft and other modern pieces of military technology,” Slovakia’s foreign minister, Rastislav Káčer, told POLITICO. “He was pushy, politely,” Káčer added.
Borrell tried to offer reassurance on the speed of the EU decision-making process, saying: “There has been some disagreement but the work continues. We are not waiting for the legal document to be finished to start working. The work continues and everything is being prepared,” he said at a press conference after the meeting.
Diplomats reckon it’s a matter of days, likely Wednesday, before track two of the plan will be finalized.
“The truth is that there is not satisfaction about how we’re delivering on track one, in the quantity and the speed,” Káčer said. “We can do more, we can scratch more. Slovakia is trying. We are putting everything we have in the stockpiles.”
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( With inputs from : www.politico.eu )
The European Commission wants to cut deals with private American space companies like Elon Musk’s SpaceX to launch cutting-edge European navigation satellites due to continued delays to Europe’s next generation Ariane rocket system.
In a draft request to EU countries seen by POLITICO, the Commission is planning to ask for a green light to negotiate “an ad-hoc security agreement” with the U.S. for its rocket companies to “exceptionally launch Galileo satellites.”
The Commission reckons only SpaceX’s Falcon 9 heavy launcher and United Launch Alliance’s Vulcan system are up to the job of sending the EU’s new geo-navigation Galileo satellites — which weigh around 700 kilograms each — into orbit.
Seeking U.S. help to keep its flagship space program running puts a dent in the EU’s idea of strategic autonomy. Galileo is a point of pride for the EU, as it seeks to become less dependent on other regions for critical infrastructure, services and technology — a quest strongly backed by Paris.
The EU is having to seek assistance to launch new versions of its navigation satellites because the Ariane 5 rocket, developed by France-based ArianeGroup and launched from France’s South American spaceport in French Guiana, is to be retired in the next months.
The deployment of its replacement, Ariane 6, has been delayed; the newsystem is currently expected to carry out a maiden launch at the end of this year, with full commercial deployment starting next year.
The alternative to the Ariane series would have been launching Galileo satellites with Russian-built Soyuz rockets, a version of which are also used at the French Guiana site. However, since Russia’s invasion of Ukraine, two Galileo launches using Soyuz rockets have been cancelled, prompting the search for alternatives.
Galileo satellites beam highly accurate navigation and precise time data back to earth — and also provide a top secret encrypted service for use by government agencies. That means launches typically can only be carried out from EU territory under tight security rules.
“In view of the security sensitive information … included in Galileo satellites, an ad-hoc legally binding security agreement with [the] U.S. is necessary, in order to protect the integrity of the satellites and the Galileo constellation,” said part of a draft proposal from the Commission seen by POLITICO.
It will be up to EU countries to approve negotiations for an agreement, which would come under the umbrella of standing deals on the exchange of classified information, the proposal states.
Capacity to launch satellites and humans into space independently of other powers has been a key part of French efforts to develop the concept of strategic autonomy for Europe.
But the need to contract out launches of critical space infrastructure to private companies operating in the U.S. undermines the argument that Europe is able to manage its own alternative to the U.S. GPS, Russia’s Glonass and China’s BeiDou constellations.
“Analyses are … ongoing to ascertain whether or not launching with an alternative launch service provider would be feasible,” said Commission spokesperson Sonya Gospodinova, adding that no decision has yet been taken. Assessments are being made on technical compatibility, launch site security and cost, she said.
While SpaceX’s Falcon rocket is already operational, ULA only plans its first Vulcan mission in May.
The Paris-based European Space Agency, which isn’t an EU institution but helps manage Galileo and runs the French Guiana spaceport, had already been looking at alternative launch options for satellites.
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( With inputs from : www.politico.eu )
There’s an Emmanuel Macron-shaped shadow hovering over this week’s U.S. visit by Polish Prime Minister Mateusz Morawiecki.
In contrast to the French president — who in an interview with POLITICO tried to put some distance between the U.S. and Europe in any future confrontation with China over Taiwan and called for strengthening the Continent’s “strategic autonomy” — the Polish leader is underlining the critical importance of the alliance between America and Europe, not least because his country is one of Kyiv’s strongest allies in the war with Russia.
“Instead of building strategic autonomy from the United States, I propose a strategic partnership with the United States,” he said before flying to Washington.
In the U.S. capital, Morawiecki continued with his under-the-table kicks at the French president.
“I see no alternative, and we are absolutely on the same wavelength here, to building an even closer alliance with the Americans. If countries to the west of Poland understand this less, it is probably because of historical circumstances,” he said on Tuesday in Washington.
Unlike France, which has spent decades bristling at Europe’s reliance on the U.S. for its security, Poland is one of the Continent’s keenest American allies. Warsaw has pushed hard for years for U.S. troops to be stationed on its territory, and many of its recent arms contracts have gone to American companies. It signed a $1.4 billion deal earlier this year to buy a second batch of Abrams tanks, and has also agreed to spend $4.6 billion on advanced F-35 fighter jets.
“I am glad that this proposal for an even deeper strategic partnership is something that finds such fertile ground here in the United States, because we know that there are various concepts formulated by others in Europe, concepts that create more threats, more question marks, more unknowns,” Morawiecki said. “Poland is trying to maintain the most commonsense policy based on a close alliance with the United States within the framework of the European Union, and this is the best path for Poland.”
Fast friends
Poland has become one of Ukraine’s most important allies, and access to its roads, railways and airports is crucial in funneling weapons, ammunition and other aid to Ukraine.
That’s helped shift perceptions of Poland — seen before the war as an increasingly marginal member of the Western club thanks to its issues with violating the rule of law, into a key country of the NATO alliance.
Warsaw also sees the Russian attack on Ukraine as justifying its long-held suspicion of its historical foe, and it hasn’t been shy in pointing the finger at Paris and Berlin for being wrong about the threat posed by the Kremlin.
“Old Europe believed in an agreement with Russia, and old Europe failed,” Morawiecki said in a joint news conference with U.S. Vice President Kamala Harris. “But there is a new Europe — Europe that remembers what Russian communism was. And Poland is the leader of this new Europe.”
That’s why Macron’s comments have been seized on by Warsaw.
According to Poland’s PM Mateusz Morawiecki, Emmanuel Macron’s talks of distancing the EU from America “threatens to break up” the block | Ludovic Marin/AFP via Getty Images
“I absolutely don’t agree with President Macron. We believe that more America is needed in Europe … We want more cooperation with the U.S. on a partnership basis,” Marcin Przydacz, a foreign policy adviser to Polish President Andrzej Duda, told Poland’s Radio Zet, adding that the strategic autonomy idea pushed by Macron “has the goal of cutting links between Europe and the United States.”
While Poland is keen on European countries hitting NATO’s goal of spending at least 2 percent of gross domestic product on defense — a target that only seven alliance members, including Poland, but not France and Germany, are meeting — and has no problem with them building up military industries, it doesn’t want to weaken ties with the U.S., said Sławomir Dębski, head of the state-financed Polish Institute of International Affairs.
He warned that Macron’s talks of distancing Europe from America in the event of a conflict with China “threatens to break up the EU, which is against the interests not only of Poland, but also of most European countries.”
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( With inputs from : www.politico.eu )
ABOARD COTAM UNITÉ (FRANCE’S AIR FORCE ONE) — Europe must reduce its dependency on the United States and avoid getting dragged into a confrontation between China and the U.S. over Taiwan, French President Emmanuel Macron said in an interview on his plane back from a three-day state visit to China.
Speaking with POLITICO and two French journalists after spending around six hours with Chinese President Xi Jinping during his trip, Macron emphasized his pet theory of “strategic autonomy” for Europe, presumably led by France, to become a “third superpower.”
He said “the great risk” Europe faces is that it “gets caught up in crises that are not ours, which prevents it from building its strategic autonomy,” while flying from Beijing to Guangzhou, in southern China, aboard COTAM Unité, France’s Air Force One.
Xi Jinping and the Chinese Communist Party have enthusiastically endorsed Macron’s concept of strategic autonomy and Chinese officials constantly refer to it in their dealings with European countries. Party leaders and theorists in Beijing are convinced the West is in decline and China is on the ascendant and that weakening the transatlantic relationship will help accelerate this trend.
“The paradox would be that, overcome with panic, we believe we are just America’s followers,” Macron said in the interview. “The question Europeans need to answer … is it in our interest to accelerate [a crisis] on Taiwan? No. The worse thing would be to think that we Europeans must become followers on this topic and take our cue from the U.S. agenda and a Chinese overreaction,” he said.
Just hours after his flight left Guangzhou headed back to Paris, China launched large military exercises around the self-ruled island of Taiwan, which China claims as its territory but the U.S. has promised to arm and defend.
Those exercises were a response to Taiwanese President Tsai Ing-Wen’s 10-day diplomatic tour of Central American countries that included a meeting with Republican U.S. House Speaker Kevin McCarthy while she transited in California. People familiar with Macron’s thinking said he was happy Beijing had at least waited until he was out of Chinese airspace before launching the simulated “Taiwan encirclement” exercise.
Beijing has repeatedly threatened to invade in recent years and has a policy of isolating the democratic island by forcing other countries to recognize it as part of “one China.”
Taiwan talks
Macron and Xi discussed Taiwan “intensely,” according to French officials accompanying the president, who appears to have taken a more conciliatory approach than the U.S. or even the European Union.
“Stability in the Taiwan Strait is of paramount importance,” European Commission President Ursula von der Leyen, who accompanied Macron for part of his visit, said she told Xi during their meeting in Beijing last Thursday. “The threat [of] the use of force to change the status quo is unacceptable.”
Chinese President Xi Jinping and French President Emmanuel Macron in Guangdong on April 7, 2023 | Pool Photo by Jacques Witt / AFP via Getty Images
Xi responded by saying anyone who thought they could influence Beijing on Taiwan was deluded.
Macron appears to agree with that assessment.
“Europeans cannot resolve the crisis in Ukraine; how can we credibly say on Taiwan, ‘watch out, if you do something wrong we will be there’? If you really want to increase tensions that’s the way to do it,” he said.
“Europe is more willing to accept a world in which China becomes a regional hegemon,” said Yanmei Xie, a geopolitics analyst at Gavekal Dragonomics. “Some of its leaders even believe such a world order may be more advantageous to Europe.”
In his trilateral meeting with Macron and von der Leyen last Thursday in Beijing, Xi Jinping went off script on only two topics — Ukraine and Taiwan — according to someone who was present in the room.
“Xi was visibly annoyed for being held responsible for the Ukraine conflict and he downplayed his recent visit to Moscow,” this person said. “He was clearly enraged by the U.S. and very upset over Taiwan, by the Taiwanese president’s transit through the U.S. and [the fact that] foreign policy issues were being raised by Europeans.”
In this meeting, Macron and von der Leyen took similar lines on Taiwan, this person said. But Macron subsequently spent more than four hours with the Chinese leader, much of it with only translators present, and his tone was far more conciliatory than von der Leyen’s when speaking with journalists.
‘Vassals’ warning
Macron also argued that Europe had increased its dependency on the U.S. for weapons and energy and must now focus on boosting European defense industries.
He also suggested Europe should reduce its dependence on the “extraterritoriality of the U.S. dollar,” a key policy objective of both Moscow and Beijing.
Macron has long been a proponent of strategic autonomy for Europe | Ludovic Marin/AFP via Getty Images
“If the tensions between the two superpowers heat up … we won’t have the time nor the resources to finance our strategic autonomy and we will become vassals,” he said.
Russia, China, Iran and other countries have been hit by U.S. sanctions in recent years that are based on denying access to the dominant dollar-denominated global financial system. Some in Europe have complained about “weaponization” of the dollar by Washington, which forces European companies to give up business and cut ties with third countries or face crippling secondary sanctions.
While sitting in the stateroom of his A330 aircraft in a hoodie with the words “French Tech” emblazoned on the chest, Macron claimed to have already “won the ideological battle on strategic autonomy” for Europe.
He did not address the question of ongoing U.S. security guarantees for the Continent, which relies heavily on American defense assistance amid the first major land war in Europe since World War II.
As one of the five permanent members of the U.N. Security Council and the only nuclear power in the EU, France is in a unique position militarily. However, the country has contributed far less to the defense of Ukraine against Russia’s invasion than many other countries.
As is common in France and many other European countries, the French President’s office, known as the Elysée Palace, insisted on checking and “proofreading” all the president’s quotes to be published in this article as a condition of granting the interview. This violates POLITICO’s editorial standards and policy, but we agreed to the terms in order to speak directly with the French president. POLITICO insisted that it cannot deceive its readers and would not publish anything the president did not say. The quotes in this article were all actually said by the president, but some parts of the interview in which the president spoke even more frankly about Taiwan and Europe’s strategic autonomy were cut out by the Elysée.
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( With inputs from : www.politico.eu )
Hyderabad: The Cyberabad police here issued notices to several big companies for manhandling of data resulting in the data of their customers and clients landing illegally in the hands of fraudsters.
The Cyberabad police caught at least three gangs involved in the theft and sale of data of individuals. In the latest case the police arrested a man, Anand Bhardwaj of Haryana for allegedly holding data of 66.7 crore individuals.
The notices were issued to Tech Mahindra, State Bank of India, Bank of Baroda, Matrix, Axis Bank, Policy Bazaar, Club Mahendra, Facebook, Phonepay and Big Basket.
DCP (Crimes) Cyberabad Kalmeshwar Shingenavar said the notices are issued because the companies violated the law pertaining to the procedures laid down by the Ministry of Communication and Information Technology that deals with protection of data of their customers and prevention of its misuse.
Bhardwaj was procuring and selling personal and confidential data of 66.9 crore people and organisations in 104 categories across 24 states and 8 metropolitan cities of the country. The accused was found possessing data of students of Byjus and Vedantu organisations. Apart from that, he possessed the data of 1.84 lakh cab users of eight metro cities and data of 4.5 lakh salaried employees of six cities and Gujarat state, the police said.
The accused also held customer data of major organisations like GST (Pan India), RTO (Pan India), Amazon, Netflix, Youtube, Paytm, Phonepe, Big Basket, BookMyShow, Instagram, Zomato, Policy Bazar, Upstox, etc.
“Some of the important data held by the accused includes the data of defence personnel, government employees, PAN card holders, students data of 9th, 10th, 11 & 12th standard, senior citizens. Delhi electricity consumers, D-MAT account holders, mobile numbers of various individuals, NEET students, high net worth individuals, insurance holders, credit card and debit card holders,” the Cyberabad Police maintained.
On March 22, the police arrested a seven member gang allegedly involved in the theft and sale of sensitive data of the government and important organizations, including details of defense personnel as well as the personal and confidential data of about 16.8 crore citizens. The accused persons were found selling more than 140 different categories of information, which include sensitive information such as details of defense personnel and the mobile numbers of citizens and NEET students, among others, the police said.
Seven data brokers were arrested from Delhi and the accused had been operating through three companies (call centers) in Noida and other places. So far it has been found that the accused sold data to at least 100 fraudsters. .
“The data had landed in the wrong hands and fraudsters using it had conned and duped several persons of hard earned money. Three cases were registered in Cybercrime police station and while investigating the cases we found the data of the victims was obtained from the online portals and companies illegally,” said the DCP.
Thane: Maharashtra Congress president Nana Patole on Friday alleged that the Adani group has invested Rs 20,000 crore through shell companies and asked if Prime Minister Narendra Modi will show “courage” to probe it.
He was speaking to reporters here after taking part in a demonstration against the Bharatiya Janata Party-led Centre.
Patole said the Modi government has in the past nine years made “arrangements for his friends to grab public money”. The senior Congress leader said several government contracts have been given to companies of businessman Gautam Adani.
Patole claimed that the Adani group has invested Rs 20,000 crore through shell companies. “Where did this money come from? The same question has also been raised by Rahul Gandhi. Will Prime Minister Narendra Modi show the courage to inquire into this?” he asked.
The Congress has been demanding a Joint Parliamentary Committee (JPC) probe after US short-seller Hindenberg Research in January accused the Adani Group firms of “brazen stock manipulation and accounting fraud” and using a number of offshore shell companies to inflate stock prices. Adani Group has rejected the allegations.
The Congress has stepped up its attack on the Centre after Rahul Gandhi was disqualifed as a Lok Sabha member following his conviction by a Surat court in a 2019 criminal defamation case.
Thane city District Congress president Vikrant Chavan was among those who took part in the demonstration.
New Delhi: Global ratings agency Fitch has said that two companies within the Adani Group – Adani Ports & SEZ Ltd. and Adani Transmission Ltd. – face increased “contagion risks” due to weak governance within the conglomerate.
The report, released on Tuesday in Singapore, suggests that until these concerns are addressed, the ratings for Adani Transmission and Adani Ports and Special Economic Zone will remain capped at their current level of “BBB-/Stable”.
Fitch also noted that as of the end of December 2022, the debt of Adani’s rated Indian entities was largely secured and held offshore, with U.S. dollar bonds maturing from mid-2024. Therefore, there are no immediate concerns about repayment.
Adani debunks reports on repayment of loans against shares
Meanwhile, the Adani Group has strongly refuted news reports which make the baseless and deliberately mischievous claim that the Group has not completed the repayment of USD 2.15 billion in share-backed debt.
Adani has completed full prepayment of margin linked share backed financing aggregating to USD 2.15 billion and all corresponding shares pledged for those facilities have been released.
Adani said all share backed facilities availed by the promoters have been paid off.
After the statement, stocks of Adani Group companies rebounded.
