German Minister of Labour and Social Affairs Hubertus Heil has said that he wants to encourage skilled professionals from India to come to Germany. In India for the G20 summit from July 17-22 , Heil added that Germany’s new immigration law makes it easier for students and professionals to move to the country, adding that they need “smart brains and helping hands” for their economy. Heil called India an important partner for Germany and stressed that it is important for both countries to seek solutions together. “In the long term, we could achieve cross-national comparability and re
A record 13.5 crore people moved out of multidimensional poverty between 2015-16 and 2019-21, said a report released by NITI Aayog on July 17. According to the report, National Multidimensional Poverty Index: A Progress Review 2023, India registered a significant decline in the number of multi-dimensionally poor from 24.85 percent in 2015-16 to 14.96 percent in 2019-2021, the report said. During this period, rural areas witnessed the fastest decline in poverty from 32.59 percent to 19.28 percent, it added. The National MPI measures simultaneous deprivations across the three equally weig
Adani Group Chairman Gautam Adani has said that the redeveloped, new Dharavi - Asia’s largest slum cluster located in Central Mumbai – will produce “millionaires without the slumdog prefix.” Adani Properties has been appointed by the Maharashtra government for the redevelopment of Dharavi. In an open letter on July 19, Adani expressed his commitment to creating a “state-of-the-art world-class city" that would reflect a resurgent and self-assured India “as the 21st century belongs to India". He personally vowed that eligible residents of Dharavi would be relocated to their new h
India and Japan have signed a memorandum of understanding (MoU) on semiconductor development. The agreement was signed between Union Minister for Electronics and IT Ashwini Vaishnaw and Japan’s Minister of Economy, Trade and Industry Yasutoshi Nishimura in New Delhi on July 20. The MoU is on five fronts, namely semiconductor design, manufacturing, equipment research, talent development, and bringing resilience to the semiconductor supply chain, informed Ashwini Vaishnaw. He added that the agreements such as the US-India initiative on Critical and Emerging Technology (iCET) and the one wi
India has extended approximately $32 billion in credit to 42 African nations in the last 10 years, accounting for 38 percent of India’s total credit distribution, according to Export-Import Bank of India Managing Director Harsha Bangari. In addition, India has opened 195 project-based lines of credit in Africa worth around $12.8 billion - triple the number in its own region. This makes Africa the second-largest recipient of credit from India. In a media interview, Bangari said that credit extended by India in the last decade is just a few percentage points below its neighbours. She added
Japan is assisting Bangladesh to turn its coast into an economic hub, say reports. Under the Bay of Bengal Industrial Growth Belt (BIG-B) initiative, Japan has been implementing projects for improving connectivity, developing infrastructure and accelerating industrial growth along the Dhaka-Chittagong-Cox's Bazar belt area, say experts familiar with the development. The projects include a power plant, port and corporate parks. The BIG-B initiative aims to boost connectivity between Bangladesh and its neighbouring countries Bhutan, Nepal and northeastern India, and make it the heart of the
A Norwegian mining company has announced that the phosphate rock deposit discovered in June could meet the global demand for solar panels and batteries for the next 100 years. Norge Mining, an Anglo-Norwegian company, announced the discovery of massive deposits of ultra-rich phosphate rock, vanadium and titanium in south-west Norway this June. The company has said that the deposit is estimated to be worth at least 70 billion tonnes. This is very close to the proven global reserves of phosphate, which are estimated to be 71 billion tonnes, according to a US Geological Survey report released
The United Arab Emirates (UAE) will set up a new ministry of investment to develop its investment strategy at home and worldwide. The Prime Minister of UAE and ruler of Dubai, Sheikh Mohammed bin Rashid al-Maktoum tweeted the plans after a cabinet meeting on July 3, adding that Mohammed Hassan Al Suwaidi will become the investment minister. The objectives of the upcoming federal ministry would include stimulating the investment environment in the UAE and to make the UAE’s legislation and procedures more competitive to attract global investment, Sheikh Mohammed said. The UAE will also set
H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, launched the first phase of the Waste to Energy Centre in Warsan – the world’s largest and most efficient waste-to-energy plant – on July 4. The facility built at a cost of AED4 billion features advanced technologies that do not have any adverse environmental impact. The Crown Prince of Dubai also watched the Centre’s first waste-to-energy conversion operations. Two of the plant’s five lines are now operational and process about 2,300 tonnes of solid
Alphabet, the parent company of Google, is using beams of light to deliver internet service to India’s rural and remote areas. This new project, called Taara, is part of the US company’s innovation lab, X or the Moonshot Factory. Taara is now working on deploying the laser internet technology on a larger scale in the country in collaboration with Bharti Airtel. The project aims to connect internet services in multiple countries, and has partnered with companies like Econet Group, Bluetown, and Digicel. The technology involves small machines that transmit data through lasers, providi