Category: Business

GuardianLink has launched its first Web3 start-up incubator

GuardianLink.io has launched its Web3 Accelerator. The goal of the Web3 Startup Incubator is to transform Web2 gaming companies into Web3. According to the company, GuardianLink intends to incubate 10 Web3 companies by the end of the year under the direction of Arjun Reddy, co-founder of GuardianLink.

Reddy said the polygon has put India on the map with the Web3 infrastructure. “GuardianLink’s goal is to carry a torch in the NFT gaming and commerce space. We believe in sharing our skills, technology and even learning from our mistakes with new entrants. This will help us build the culture of Web3 in India, “he added.

According to the company, one of the first batches of startups is Dali, co-founded by Jahnbi Ramalingam and Daniel Mark. Startup is an NFT intelligence platform that feeds brands and manufacturers seeking to launch NFT collections with their artists in the pulses market.

“The Accelerator Program is a way for entrepreneurs to look at the Web3 space and gain a hands-on learning experience, cross-pollination of ideas and access to various thought leaders and top level stakeholders. This will be possible through the arsenal of resources provided to us by GuardianLink, “said Jahnbi Ramalingam, CEO of Dali.

The company claims that blockchain-enabled products such as NFTs and decentralized financing (DeFi) are entering the Web3 era. Formed and managed by the community, Web3 allows individuals to own things in a decentralized way. “As a result, Web3 will witness collaboration to build a project behind shared culture and values.” GuardianLink’s Web3 Accelerator has been incubated at IIT Madras Research Park to make progress in this space, ”the company said.

GuardianLink has recently launched a Zero Gas Fee Layer 2 solution related to the Indian NFT ecosystem. According to the company, it has been recognized with 55,000 NFT sales in nine minutes on Jump.Trade, with Amitabh Bachchan’s NFTs being launched for one million dollars.

Rajya Sabha elections: The MVA alliance will discuss contesting in the upcoming state

Maharashtra’s ruling Maha Bikash Aghadi will discuss how many seats each alliance partner will contest in the upcoming six Rajya Sabha seats in the state, an MVA leader said on Wednesday, adding that the elections are likely to test Shiv Sena’s strength. Led alliance. Shiv Sena has already said that it wants to elect two of its candidates to the upper house of parliament.

Six Rajya Sabha members from Maharashtra – Piyush Goyal, Binoy Sahastrabuddhe and Bikash Mahatma (all three from BJP), P Chidambaram (Congress), Praful Patel (NCP) and Sanjay Raut (Shiv Sena) will expire on July 4. .

All four parties have not yet announced their candidates.

The 288-member Maharashtra Assembly Electoral College forms the Rajya Sabha election, scheduled for June 10, and requires 42 votes for a candidate to win a seat.

Congress spokesman Atul Londe said on Wednesday that a decision on how many seats each of the three ruling parties would contest would be made after discussions among coalition leaders.

NCP spokesperson Mahesh Tapse also said a meeting of the three alliances is expected soon.

Shiv Sena spokesperson Sanjay Raut, whose party wants to field two candidates in the Rajya Sabha, alleged that their political opponents were resorting to horse-trading for the sixth seat, but insisted that he had the arithmetic to win the MVA. Sixth seat.

When the MVA, comprising Shiv Sena, NCP and Congress, came to power in Maharashtra in November 2019, it demanded the support of 170 MLAs in the Assembly.

Currently, one seat in the House is vacant due to the death of Shiv Sena MLA Ramesh Lat.

Last year, the Sharad Pawar-led NCP lost the Pandharpur by-election, reducing their numbers to one.

The MVA is currently facing various problems including cancellation of OBC quota, investigation by central agencies against some Shiv Sena leaders, while two senior NCP leaders are in jail on various charges.

Gayal, Patel, Chidambaram and Raut can get re-nominations from their respective parties.

However, Shiv Sena’s bid for two seats in the Rajya Sabha could jeopardize the chances of Chhatrapati Sambhajiraj, a member of the Kolhapur royal family and a descendant of Chhatrapati Shivaji Maharaj, who was earlier a presidential nominee in the Rajya Sabha.

Sambhaji Raje has recently announced that he will contest the next Rajya Sabha elections as an independent candidate and has appealed to all parties to support him. He was earlier associated with the BJP.

NCP president Sharad Pawar has hinted that his party may support Sambhajiraj’s candidature, but his election could be difficult if he does not get the next two MVA seats.

In the 288-member state assembly, the BJP currently has 106 MLAs, including Shiv Sena-55, NCP-53, Congress-44, Bahujan Bikash Aghadi-3, Samajwadi Party, AIMIM and Prahar Janshakti Party-2 each, MNS, CPM, Krishak and Workers Party. , Rashtriya Samaj Paksha, Swabhimani Party, Jansurajya Shakti and Krantikari Krishak Party-1. There are 13 independent MLAs, while one seat is vacant.

The notification of Rajya Sabha elections will be issued on May 24.

ITC Q4 results: Net profit rises 12% to Rs 4,196 crore; Final dividend declaration

FMCG-Cigarette-to-Hotel chief ITC on Wednesday reported a net profit of Rs 4,196 crore for the year, up 11.7 per cent from the quarter ended March 31, 2022. The company had a net profit of Rs 3,755.47 crore in the year-ago period.

Revenue from operations for the period stood at Rs 17,754.02 crore, up 15 per cent from the March quarter. The company earned Rs 15,404.37 crore during the same period.

The company further stated that it has recommended a final dividend of Rs 6.25 crore for the financial year ended March 31, 2022, subject to its announcement by the members at the 111th Annual General Meeting (AGM) of the company on July 20, 2022. The final dividend, when announced, will be entitled to those members between Friday, July 22, 2022 and Tuesday, July 26, 2022.

The company added that it has set May 28, 2022 as the record date for determining the entitlement of members to pay the final dividend.

The ITC also approved the board members’ recommendation to appoint Supratim Dutt as a director and as a full-time director of the company for a period of three years effective July 22, 2022.

Shares of ITC rose 0.72 per cent to close at Rs 266.50 on the BSE on Wednesday.

The Delhi government is considering raising auto and taxi fares

A Delhi government committee tasked with revising fares for auto-rickshaws and taxis has recommended a proportional increase in fares for CNG prices in the national capital, sources told PTI.

The development comes after some auto and taxi union panels shared their concerns about the sharp rise in CNG prices, saying it would tighten their competition with cab aggregators who offer rides at subsidized rates. Amid rising fuel prices, the Delhi government last month formed a committee to revise auto-rickshaw and taxi fares. The committee may finalize their report by the end of this week.

Some members of the government panel have been traveling in taxis and autos for the last two weeks to understand the demands and expectations of the drivers.

“For the last 15 days, officials have been traveling in auto-rickshaws and taxis in Delhi to know the demands of drivers and their expectations from the fare revision practice.

“This is being done to get their views on rent revision since they are the main stakeholders,” a source said.

The deadline for submission of the report expired this week, the source said, adding that the report would be submitted to Delhi Transport Minister Kailash Gahlot and then go to the cabinet for approval. “The committee can finalize its report in the next two days. . The committee has held two meetings. It may recommend a fare increase in proportion to the price of CNG. The committee also took into account the concerns of the Autorickshaw Union, ”the source said.

Special Commissioner (State Transport Authority) headed by Fare Amendment Committee. Other members of the panel include the deputy commissioner and deputy controller of accounts, two nominated district transport officers and a technical expert. The committee also includes members of civil society, including representatives of civil welfare associations, passengers and students. CNG prices were hiked by Tk 2 per kg in the national capital on Sunday, the 12th increase in two months. The price of one kg of CNG now stands at Rs 73.61, up from Rs 71.61 per kg, according to data posted on the Indraprastha Gas (IGL) website, a firm that retails CNG and piped cooking gas in the national capital and surrounding cities.

Maharashtra government ‘kills’ political reservation for OBCs: Devendra

Veteran BJP leader Devendra Farnavis on Wednesday claimed that the incompetence of the Maha Bikash Aghadi (MVA) government in Maharashtra has deprived other backward classes (OBCs) of reservations in local body elections and even Madhya Pradesh has protected it. MVA government ministers should resign “those who failed to get OBC quota”, he demanded.

The Supreme Court on December 12, 2019 asked the Shiv Sena-NCP-Congress government to complete the necessary ‘triple test’ to establish that OBCs should be given a quota in local government bodies, he told reporters here.

But the government has been pointing fingers at the central government for a year (due to lack of necessary information), the former chief minister said.

A commission was formed to prepare a report, but it was not given adequate funding and staff, and eventually the SC rejected its report, Fadnavis said in Nagpur.

In neighboring Madhya Pradesh, the government, following a court order, has completed the triple test and submitted a report, he said.

“When the apex court asked for a report in a different format last week, it was also submitted immediately,” the opposition leader of the state assembly added.

The court today allowed the preservation of OBCs in that state, Farnabis said.

“I would like to congratulate the MP government and add that the incompetent Maharashtra government has killed the OBC political reservation. The OBC reservation could have been implemented in the state if the Maharashtra government had triple-checked in time,” he claimed.

Meanwhile, speaking to reporters in Mumbai, BJP MLA Devyani Farande criticized the MVA government on the issue and demanded the resignation of CM Thackeray for his “failure” to ensure the protection of OBCs.

He also termed the remarks of some state ministers as “completely misleading” that the Supreme Court’s decision to allow OBC quotas in local body elections in Madhya Pradesh could also apply to Maharashtra.

First, the Maharashtra government delayed the formation of a backward commission to collect empirical information in a timely manner and then further delayed allocating funds for it, he said.

“It is utterly misleading for the MVA government to say that the decision of the Supreme Court to allow OBC quota before local body elections in MP also applies in Maharashtra. The MP government has already submitted empirical information to the SC. That is why the Supreme Court allowed that government,” he said .

But the MVA government led by Chief Minister Uddhav Thackeray has completely failed to secure political quotas for the community, he complained, adding, “Thackeray should step down.”

“I am shocked by the comments of two ministers from Maharashtra – Chhagan Bhujbal and Jitendra Awhad – who are misleading people that the SC decision in the case of Madhya Pradesh will also apply in Maharashtra. The Supreme Court is not opposed. OBC quota How can a quota be given? ” He asked.

It seems inevitable that local body elections in Maharashtra will be held without OBC quota and the entire blame lies with the MVA government, the BJP MLA alleged.

Targeting NCP leader Bhujbal, he said he had left the Shiv Sena, claiming that the party had opposed the Mandal Commission’s recommendation, which had greatly benefited the OBCs. “The way the MVA government has failed to secure quotas for OBCs, will it dare to do the same now?” He asked.

The rupee depreciated by 16 paise to a record low of 77.60 against the US dollar

The rupee lost 16 paise against the US dollar on Wednesday, closing at a fresh low of 77.60, amid relentless foreign fund outflow and a strong greenback in overseas markets.

In the interbank foreign exchange market, the rupee opened lower at 77.57 and later reached a day low of 77.61 as the dollar depreciated in global markets following the harsh remarks of US Federal Reserve Chief Jerome Powell.

Crude oil prices also rose more than 1 percent, weighing on the rupee.

The local unit finally ended its all-time low of 77.60, down 16 paise from its previous close of 77.44.

“The dollar index has found support near 103.50 and has seen profit booking from higher levels of the capital market, sending the rupee into weakness,” said Jatin Trivedi, VP Research Analyst at LKP Securities.

The head of the US Fed stressed that the central bank would raise interest rates as needed to curb a spike in inflation that threatens the very foundations of the economy.

The dollar index, which measures the strength of the greenback against a basket of six currencies, is trading 0.3 percent higher at 103.59.

Global oil benchmark Brent crude futures rose 1 percent to $ 113 a barrel.

Meanwhile, the 30-share BSE Sensex fell 109.94 points, or 0.20 per cent, to 54,208.53. During the day, it reached a high of 54,786 and a low of 54,130.89.

The broader NSE Nifty ended 19 points, or 0.12 percent, lower at 16,240.30.

According to the stock exchange, foreign institutional investors remained net sellers in the capital market on Tuesday as they offloaded shares worth Rs 2,192.44 crore.

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Why students travel abroad for higher education

By Piyush Kumar,

Every student wants to enjoy a great lifestyle and build a career in their area of ​​interest. In order to explore those opportunities and reach their true potential, students take the path of international learning. According to data released by the Bureau of Immigration (BOI), more than 133,000 Indian students have left India for higher education this year. Despite epidemics and other travel bans, foreign education only gained popularity. BOI data shows that 2,59,655 went abroad to study in 2020 and 4,44,553 in 2021. Increasing numbers show students’ global aspirations for a degree that can help them successfully launch a career driven by a rich network of global exposure and cross-border.

Countries such as the United States, Canada and the United Kingdom have been gaining popularity since the onset of the epidemic due to their flexible student-friendly admissions policies, visa regulations and vaccination guidelines. However, there are various factors and decisions that students need to consider in their study abroad. Capturing the true essence of the factors that affect students’ dreams of international learning, IDP Connect released a detailed report in October 2021 entitled “New Horizons”. The study highlighted that demand for on-campus education remained strong throughout the epidemic, with 79 percent of students liking it. The study further reveals that students strongly consider migration incentives, post-study work rights and employment opportunities when choosing their study destination. In addition to these, many other factors influence students’ choice of country and institution. These include:

Multiple course options offered by world-class educational institutions

Graduating from a reputed foreign institution equips students with quality education, valuable and recognized in every corner of the globe. These world-class institutions, which offer a well-structured open curriculum, rank among the top institutions according to QS and Times Higher Education. Graduates from these institutions are taught by the best faculty members and have access to rich world resources. Thus, these students may have better prospects in their professional journey. Such institutions with a more fluid subject coordination policy allow students interested in literature to study mathematics even as their principal. This progressive learning approach transforms students’ lives personally and professionally and helps them develop their interpersonal skills such as self-confidence, self-awareness, analytical thinking and problem solving. Studying in such institutions makes the students more efficient and employable than the rest. In addition to studying at a world-class educational institution, students look forward to the availability of specialization in the course of their interest. Data Analytics, Artificial Intelligence, Digital Marketing, Cybersecurity, Ethical Hacking and Ecotechnology are just some of the top current choices for students. A recent survey commissioned by NielsenIQ by Western Union, entitled “Education Overseas-An Evolving Journey”, highlighted that 52% of Indian students tend to study abroad to pursue specialized courses on traditional general education.

Future career opportunities

One of the main reasons why students choose international education is the wide range of careers and the availability of employment opportunities. For example, Canada offers the Post-Graduate Work Permit Program (PGWPP), the United States Optional Training Program (OPT) and the UK New Graduate Pathway (GR). These pathways offer good placement opportunities for students after graduation. It is a major attraction and the most popular way for Indian students to advance their careers.

Students are interested in studying in first world countries, such as the United States, United Kingdom, Canada, Ireland, New Zealand, and Australia. These countries promote a culture of part-time employment while studying. It allows students to explore not only their interests, talents and strengths, but also financial freedom, enabling them to learn both on the job and on the path to what it takes to get a job. International institutions also have internships and training as an integral part of their curriculum, providing a better understanding of various work-related elements and helping students improve their professional and social skills. According to a survey conducted by Masters Union, 45% of students see ‘self-reliance’ and ‘being able to live on their own terms’ as the main motivation for exploring international learning opportunities.

International exposure

Students with international exposure excel in this highly competitive environment. Studying abroad introduces students to new cultures, diversity, languages ​​and geographies, adapting them to different environments. It helps them develop a sensitivity to other cultures when working across borders. Studying in an international environment prepares students to independently manage and solve their problems independently. They learn to manage all the elements of their life, be it money, health, social life, career or education. This, in turn, helps them develop intelligence and develop a global outlook on the challenges of the career and the modern day of life in general and pushes them to come up with innovative solutions.

Networking and quality of life

The experience and richness of studying abroad further emphasizes life, which allows students to acquire excellent skills and build meaningful connections, a strong professional network and lasting friendships. In addition to studying together, internships, training, attending annual events, and field trips bring together many people from different backgrounds. It helps them in their overall growth both personally and professionally. Beyond that, the impact of freedom of choice on career paths, along with world-class healthcare facilities, good learning infrastructure, advanced educational technology, and course content, cannot be overstated.

One of the most entrepreneurial features of the international education system is the value it places on understanding individual student characteristics. It offers their separate programs accordingly to meet their needs depending on their talents and interests, giving even seemingly disadvantaged students the opportunity to change their academic and career paths. So in order to stay ahead of the game in the current era of throat cutting competition, students choose special courses supported by personalized learning methods for which international education is known.

(The author is the Regional Director, South Asia, and Mauritius, IDP Education. The opinions expressed are personal and do not reflect the official position or policy of FinancialExpress.com.)

Hardik Patel: ‘Opportunist, dishonest’ Hardik Patel contacted the BJP

As Hardik Patel left the Congress, party leaders in Gujarat on Wednesday launched an attack on him, branding him “dishonest” and “opportunistic” and accusing him of having links with the ruling BJP for the past six years. Be sure to withdraw the case filed against him during the Patidar quota movement.

Patel, who joined the Congress three years ago, resigned from the party on Wednesday, accusing its top leadership of behaving as if they hated Gujarat and Gujaratis. In his resignation letter to Congress chief Sonia Gandhi, which comes ahead of this year’s state assembly elections, Patel, 26, said he was resigning as acting president of the Gujarat Congress and an early member of the party.

Targeting him over the move, Gujarat senior Congress leader and party national spokesperson Shaktisinh Gohil accused Patel of betraying his husband’s community for personal gain, while state Congress in-charge Raghu Sharma accused him of being involved in “back door transactions” with other parties. He also claimed that he lacked discipline.

Speaking to reporters, Sharma said, “Hardik was involved in the politics of dishonesty and deception. He was made a star campaigner by the Congress during the Assembly elections in five states. He was critical of the BJP in his speeches. What has suddenly changed? He was in touch. Wants to withdraw the case against him. ”

Although Patel was made the acting president of the Gujarat Congress, he wanted complete control of the entire state party unit, Sharma alleged.

“Hardik was upset because there was news that Patidar leader Naresh Patel was joining the Congress. Hardik thought that Naresh Patel would take his place. I noticed that Hardik lacked the discipline to be in any political system. Can’t stay, ”Sharma said.

“For some time now, he has been trying to put pressure on the party. He wanted us not to include Naresh Patel in the party and not just listen to him. He once tried to stay close to Rahul Gandhi to gain political ground. Now, he is criticizing the leadership. It shows that he is an opportunist, “he added.

Speaking to reporters in Delhi, Gohil said, “When a lower court rejected the Gujarat government’s plea to withdraw the riot case against Hardik, the state government approached the high court, proving that Hardik had approached the BJP to withdraw the case against him.”

Hardik was involved in some covert dealings with the BJP, Gohil said, and predicted that Hardik would join the BJP in the near future.

“When you started the Patidar quota movement, you made a number of demands for the community. How many demands did the government meet? So what kind of personal gain are you betraying your community and going there (BJP),” he asked. Member of Rajya Sabha of Gujarat.

Gohil further said that what Patel had written in his letter to Sonia Gandhi was directed by the BJP.

In his letter to the Congress president, Patel alleged that the Congress and its leadership, both at the central and state levels, had been reduced to mere opposition to everything. “Whether it is the Ram temple in Ayodhya, the repeal of Article 370 from Jammu and Kashmir, the imposition of GST, India has long wanted a solution to these problems and the Congress has only acted as a roadblock,” he said.

Patel gained prominence in 2015 after leading a movement demanding conservation for the Patidar community in the state. After joining the party a few years ago, Patel was made the acting president of the Gujarat Congress in July 2020.

India to diversify Russia-Ukraine military equipment, ammunition suppliers

India is looking to domestic companies for military gear and ammunition and to Eastern European countries, as Russia’s world’s largest buyer of arms is looking for alternative suppliers at a time when Moscow is at war with Ukraine and facing sanctions.

New Delhi has long spoken of diversifying suppliers to its huge armed forces and even building more equipment at home, achieving new emergency targets since the Russian invasion, two government officials and a defense source said.

India has identified Rs 25.15 billion ($ 324 million) worth of defense equipment that domestic companies want to build and avoid buying abroad this year, according to an online platform where the defense ministry lists its needs.

“The current world order and geopolitical scenario, which is extremely turbulent, has also taught us a lesson,” said Air Marshal Vivas Pandey, who is in charge of maintenance operations for the Indian Air Force.

“If we want to ensure security and stability … the only option is to establish a fully self-sufficient or self-sustaining supply chain system within the country,” Pandey told defense manufacturers in New Delhi.

However, he did not specifically mention the conflict in Ukraine, which Moscow called a “special military operation.”

The Indian Air Force is looking for equipment like ejection pods for Russian-designed Sukhoi fighter jets and propellers for Ukrainian-made Antonov transport aircraft, another document shows.

Within three years, Pandey said, the Air Force’s goal was to source all tires and batteries for critical aircraft fleets from domestic companies like MRF.

A senior government official, speaking on condition of anonymity, said India wanted to bring home more than half of its defense equipment.

The Defense Ministry did not immediately respond to a request for comment on whether India relied on Moscow for military hardware and whether it was concerned about the war in Ukraine and Russia’s slow progress.

India employs 1.38 million people in its armed forces and is one of the world’s largest arms importers, spending $ 12.4 billion between 2018 and 2021, compared to Russia’s $ 5.51 billion, according to the SIPRI arms transfer database.

The Indian Army is equipped with Russian tanks and Kalashnikov rifles. Its air force uses Sukhoi fighter jets and Mi-17 transport helicopters, while the navy’s aircraft carrier INS Vikramaditya was formerly part of the Russian navy.

In recent months, some of India’s western partners, including Britain and the United States, have indicated their willingness to increase their defense proposals in New Delhi.

Three-way approach

The military, which has spent considerable effort defending India’s long border with China and Pakistan, has fought both neighbors, working in a three-pronged approach to maintaining readiness, a second government official said.

The government is examining whether Eastern European countries can use weapons and platforms like the Indian military and supply extra supplies and ammunition.

“If (Russian) supply lines are cut off, we have alternatives,” said the official, who declined to be named because the matter was sensitive.

Indian authorities are also urging Russian counterparts for some key projects already agreed upon, the official added.

These include the supply of S-400 missile systems and a contract to build more than 600,000 Kalashnikov AK-203 assault rifles at a new plant in northern India.

Some Indian companies are already feeling the effects of the pressure of diversification and nationalization.

In the PLR ​​system, a joint venture between Adani Group and Israel Weapon Industries, which makes small arms in India, has increased the search for assault rifles since the Ukraine conflict, an industry source said.

The PLR ​​system offers Israel-designed Galilee ACE assault rifles as a replacement for Russian Kalashnikov weapons.

“The demand for rifles is also from the states and the Central Armed Police Force,” the source said, referring to the talks as private. “Right now, none of them can get it from outside.”

($ 1 = Rs. 77.8130)

Sexual minorities are less likely to develop cervical cancer

Researchers have found that people identified as a sexual minority are less likely to ever go through a Pap test than heterosexuals. The results of the study were published in the journal Cancer. According to the scientists, the results of the study were consistent between certain sexual minority groups, which reported the lowest adoption among Hispanic sexual minorities.

“Our team consists of people dedicated to health inequality as well as people dedicated to gynecological cancer research. We wanted to expand on what we knew in this case to identify how inequality in cervical cancer research could be exacerbated by looking at multiple identities persecuted by our society, ”said Ashley E. Stenzel, PhD, MS, Alina Health-researcher Minneapolis Dr.

While conducting the study, investigators used data from the National Health Interview Survey between 2015 and 2018 to assess differences in cervical cancer screening among 877 pregnant women aged 21 to 65 without a history of hysterectomy who reported their sexual orientation and pap. Test history. In addition, the team of scientists compared these sexual minorities with heterosexual individuals (n = 17,760), adjusting for the difference in confusing variables between groups using score-based inverse probability of treatment weight determination.

The researchers found that sexual minorities were significantly less likely to undergo Pap tests. Furthermore, both white and Hispanic sexual minorities were less likely to pass the Pap test than white heterosexual individuals when researchers considered sexual orientation and ethnicity. However, researchers did not notice any significant differences between white heterosexuals and black or Hispanic heterosexuals.

“Our analysis showed that most people who identified themselves as belonging to a sexual minority group received less cervical cancer screening, but it was more pronounced in both Hispanic and sexual minority groups,” Stenzel said.

According to Stenzel, these results are extremely worrying, as cervical cancer screening can reduce the severity of the disease.

“We need to continue to examine inequalities at the juncture of multiple socially oppressed identities, how systemic inequalities play a role in these inequalities, and the additional barriers that individuals face in accessing cancer screening. Together, they can guide institutional and policy level changes to better serve this population, “he added.