Tag: Robust

Frequent amendment of corporate laws is to make them more robust: Sitharaman

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Chennai: Union Finance Minister Nirmala Sitharaman on Saturday said the Central government does not have any hesitation in frequently approaching the Parliament to amend corporate laws as it was to fine-tune them and to make these laws more robust, adding the process aims at making the laws cater to the challenges as well as the ever-changing requirements of the industry.
Sitharaman said this while speaking here after inaugurating the renovated premises of the National Company Law Appellate Tribunal (NCLAT).
She said that Opposition members used to question the rationale behind approaching the Parliament frequently but “the government was able to convince them about the need for such frequent amendments to corporate laws”.

The Finance Minister also said that the government had taken serious note of the resentment among certain quarters about filling up vacancies in National Company Law Tribunal (NCLT) and in National Company Law Appellate Tribunal (NCLAT) and added that a lot of appointments were taking place now.
She said that the goal was to make the country more transparent in its commercial activities and to gain investors’ confidence in full. The minister said that the government was unwavering in its commitment towards achieving this.
NCLAT Chairman Ashok Bhushan said that India was now 62 in the world as far as ease of doing business was concerned and this growth was from the 142 position it had in 2015.
He said that the timely and effective disposal of commercial cases by the tribunals had helped all the stakeholders.
The NCLAT chairman also requested the minister to appoint one more judicial and technical member to the Chennai bench of the Appellate body.

NCLAT judicial member M. Venugopal said that the Chennai bench of the NCLAT had disposed of 562 of the 1,480 appeals that were filed since its inception on January 25, 2021.
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#Frequent #amendment #corporate #laws #robust #Sitharaman
( With inputs from www.siasat.com )

April 1, 2023
Will safeguard Web3 firms, crypto users with robust blockchain: Binance

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New Delhi: Leading blockchain and cryptocurrency platform Binance on Wednesday said it will strengthen collaborations and industry efforts between Web3 organisations and law enforcement agencies to further enhance security in the industry.
Jarek Jakubcek, Head of Law Enforcement Training at Binance said that “our goal is to build a safe blockchain ecosystem for all users.”
“In 2023, Binance will continue supporting and expanding initiatives such as the Global Law Enforcement Training Program and Joint Anti-Scam Campaign,” he added.
The crypto exchange increased the headcount of its security and compliance team by 500 per cent in 2022.
The team of security and compliance experts develop state-of-the-art security protocols which are designed to protect users and enhance user security, said Binance.
In an effort to protect the Web3 community, Binance recently partnered with law enforcement agencies around the world to launch the Joint Anti-Scam Campaign.
The project first kicked off in Hong Kong, where they collaborated with the Hong Kong Police Force (HKPF) to draft targeted alerts and crime prevention messages.
“In the first four weeks since its launch, approximately 20.4 per cent of users had either reconsidered the withdrawal or reviewed whether the transaction carried the risk of scams,” said Binance.

In the Philippines, Binance partnered with the Philippine-based Cybercrime Investigation and Coordination Center (CICC) under the Department of Information and Communications Technology (DICT).
“Since November 2021, the Binance investigations team has responded to over 47,000 law enforcement requests, with an average response time rate of three days,” said the company.
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#safeguard #Web3 #firms #crypto #users #robust #blockchain #Binance
( With inputs from www.siasat.com )

March 22, 2023
US adds a robust 311,000 jobs despite Fed’s rate hikes

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Last month, the government reported a surprising burst of hiring for January — 517,000 added jobs — though that gain was revised down slightly to 504,000 in Friday’s report. Consumers also ramped up their spending in January, suggesting that the economy had strengthened at the start of the year. The Fed’s preferred inflation gauge also accelerated.
With February’s sizable job growth coming after January’s expansive gain, the Fed may accelerate its rate hikes to combat inflation. When the Fed tightens credit, it typically leads to higher rates on mortgages, auto loans, credit card borrowing and many business loans.
What the Fed may decide to do about interest rates when it meets later this month remains uncertain. The decision will rest, in part, on its assessment of Friday’s jobs data and next week’s report on consumer inflation in February. Last month, the government’s report on January inflation had raised alarms by showing that consumer prices had reaccelerated on a month-to-month basis.
The vigorous job growth for January, reported early last month, was the first in a series of reports to point to an accelerating economy at the start of the year. Sales at retail stores and restaurants also jumped, and inflation, according to the Fed’s preferred measure, rose from December to January at the fastest pace in seven months.
The stronger data reversed a cautiously optimistic narrative that the economy was cooling modestly — just enough, perhaps, to tame inflation without triggering a deep recession. Now, the economic outlook is hazier.
High borrowing rates have cratered the housing market, with home sales having dropped for 12 straight months, a consequence of the average mortgage rate nearly doubling over that time. Manufacturing is also showing signs of weakness. Higher rates have made it harder for businesses and consumers to borrow to buy major factory goods, from machinery to cars to appliances.
By contrast, spending for services — things like traveling, dining out and attending entertainment events — remains strong. Many Americans continue to engage in activities that were restricted during the COVID lockdowns.
Hiring at February’s pace is about triple the level the Fed would prefer. Job gains of about 100,000 a month would be just enough to keep up with population growth and prevent unemployment from rising. A figure that low would also mean that employers weren’t so desperate for workers and wouldn’t have to keep raising wages.

Higher pay is great for employees, of course. But Fed officials say it is contributing to higher inflation, particularly in labor-intensive service industries like restaurants, health care and hotels.
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#adds #robust #jobs #Feds #rate #hikes
( With inputs from : www.politico.com )

March 10, 2023
Biden on robust jobs numbers: The ‘critics and cynics are wrong’

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The president’s last-minute remarks were added to his schedule Friday morning after the Labor Department announced the U.S. economy created a whopping 517,000 jobs in January, a shockingly high number that underscores a growing and resilient labor market. The unemployment rate fell to 3.4 percent, the lowest level since 1969.
Biden cheered the report as evidence the economy has bounced back after the pandemic — and that economics’ predictions of an incoming recession are overblown. The data also arms the White House with another line of defense against Republicans’ attacks over the Biden administration’s spending policies.
And the timing doesn’t hurt either, with the president set to deliver his State of the Union address before Congress next week. “But today, today I’m happy to report that the state of the union and the state of the economy is strong.”
The president’s public remarks were more giddy than West Wing reactions behind closed doors, as officials had hoped for a less-robust figure. Inflation continues to plague the economy, and Friday’s numbers mean Fed Chair Jerome Powell will have to blunt growth in order to curb prices. Powell is concerned that a hot jobs market will drive high wages, further fueling inflation.
But asked whether he should take blame for inflation rates, Biden was definitive: “No, because it was already there when I got here.” He noted that when he took office, “jobs were hemorrhaging, the inflation was rising, and we were not manufacturing a damn thing here, and we were in real difficulty.”
In December, inflation continued to steadily trickle down to 6.5 percent, falling from the Consumer Price Index’s June peak at 9.1 percent. Powell is working to get inflation down to the central bank’s target range of 2 percent, and the Fed raised interest rates by a quarter of a percent on Wednesday — the eighth straight increase.
He warned on Wednesday that more rate hikes were coming, noting that “the job is not fully done.”
Ben White contributed to this report.

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#Biden #robust #jobs #numbers #critics #cynics #wrong
( With inputs from : www.politico.com )

February 3, 2023
Govt Committed To Nurture, Build Robust Entrepreneurship Ecosystem: JKEDI Director

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SRINAGAR: To nurture an entrepreneurial spirit and innovative thinking among youth, Jammu and Kashmir entrepreneurship development institute (JKEDI) today organized a day-long entrepreneurship awareness programme (EAP) in coordination with Himalayan Degree College at Rajouri.
Ajaz Ahmad Bhat, Director, JKEDI attended the event as the chief guest. He is on a tour to twin border districts of Rajouri and Poonch.
In his address, he commended the initiative of Himalayan Degree College, Rajouri for imbibing a spirit of leadership among the students. “This spirit acts as a guiding philosophy for the holistic development of students,” the director said, discussing his experience of the overall entrepreneurial scene in J&K.
With a special emphasis on his tenure in the Industries and Commerce Department and Horticulture Department, he spoke about the learning he gained from his service career. He elucidated how the various policies of the UT Government have encouraged the spirit of entrepreneurship.
He added that the need of the hour was to generate consciousness among parents to foster entrepreneurship culture in children.
The Director also enumerated the benefits of the term loan scheme under National Minorities Development and Finance Corporation (NMDFC) and how this initiative of the Government is generating self-employment amongst the minority community. “There is no dearth of innovation and initiative among the youth of J&K. They should set up entrepreneurial ventures rather than wait for government jobs. A focus should be placed on the creation of enterprises that make use of locally available raw materials. Unemployment is a serious challenge for all of us and only entrepreneurship is the way forward,” he added.
The gathering was also informed that the Government is revising the Guidelines of J&K Startup Policy in order to make it more startup-friendly. “This will boost the startup ecosystem of the UT and will help the innovators and aspiring entrepreneurs in J&K. We need a robust startup ecosystem in the UT. We have to nurture the innovation and passion of our youth in a positive direction. The Government is committed to this goal,” said Ajaz Ahmad Bhat.
The Director further added that the Institute was in the process of starting short-term courses in entrepreneurship for school and college students. The aim behind starting such courses was to enable young minds to develop an entrepreneurial mindset at an early stage and equip them to counter the challenges of building a new venture. In the coming days the Institute is releasing a compendium of various entrepreneurship and self-employment related schemes. This will be a great help for the youth of the UT and will enable them to make informed career choices.

The Director thanked Himalayan Education Mission Society for their cooperation and support to make this event successful. He directed all the District Nodal Officers of the Institute to provide free counselling in their office and display telephone numbers so that people can reach out and start a profitable venture. In addition to this, two model counselling control rooms have been established at the regional campuses of Pampore and Jammu.
Dr. Mehraj Ud Din Bhat and Vishal Ray, senior faculty members of JKEDI gave an overview of how to start a new business. They also gave a presentation highlighting the prerequisites to becoming a successful entrepreneur. Hundreds of aspiring entrepreneurs and students attended the event. Mohammad Muslim Wani, Chairman, Himalayan Degree College, Rajouri, Arif Ahmad Khan, Communications Officer, JKEDI, Sheikh Nowsheen, District Nodal Officer, JKEDI Rajouri, Adil Rasool, Manager Estates, JKEDI and Showkat Ahmad, Social Worker, were also present on the occasion.

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#Govt #Committed #Nurture #Build #Robust #Entrepreneurship #Ecosystem #JKEDI #Director
( With inputs from : kashmirlife.net )

January 27, 2023