Miscellany

Miscellany

Business chamber to promote startup ecosystem

It had started its journey when East India Company began winding up from India and 73 years down the road, Eastern Chamber of Commerce (ECC), has set out on a new journey of branching out to other eastern and north-eastern states. That’s not all. ECC, founded in 1945, is also coming up with an innovative start-up lab to promote the startup ecosystem across the eastern and north-eastern states.

Musk to resign as Tesla chairman; will pay $20m for lawsuit settlement

The US securities and exchange commission said on Saturday that car maker Tesla and chief executive Elon Musk had agreed to pay $20 million each under a settlement that will also see the billionaire step down as chairman after a tumultuous two months for the company. But Musk, who is synonymous with the Tesla brand, will remain as chief executive under the settlement over tweets he posted on August 7 about taking the company private, the SEC said.

Unlisted cos’ new shares in Demat form from Oct 2

Unlisted companies will have to issue fresh shares in dematerialized form effective from October 2 as per the guidelines issued by the Ministry of Corporate Affairs and also dematerialise all physical shares issued thus far. Guidelines issued make it obligatory for public companies to facilitate dematerialisation of their securities by completing necessary formalities with a depository, and informing all securities’ holders of this matter. The grievances in this matter would be handled by the investor education and protection fund (IEPF) authority.

Chennai Motown rocked by Labour unrest

Labour unrest is boiling at Orgadam industrial belt near Chennai, which is known as the Detroit of Asia, disrupting operations of many major auto companies.

Hundreds of employees of Eicher Motors, Yamaha Corp. and Myoung Shin Automotive India (MSI) have hit the streets.

Though Eicher Motors employees had officially called off their strike, the issues have not been fully resolved yet. The employees have been demanding a pay hike and upholding their right to form unions.

Budding architects get a boost from Koochie Global

In a bid to encourage and provide financial support to budding architects, the first chapter of National Landscape Architecture Scholarship Program was organised by Koochie Global in collaboration with NMP foundation at India Habitat Centre recently. During the event, four students were given financial aid of Rs 50,000 each to bear the expenses of their research and assignments.

RBI relaxes SLR norms to ease liquidity crunch

Amid concerns of a credit crash, the Res­e­­rve Bank of India (RBI) on Thursday allowed banks to dip further into st­a­tutory liquidity reserves (SLR) to help them meet th­eir liquidity coverage ratio (LCR) requirement.

Huawei India reinstates connectivity in flood affected Kerala

Staying true to its commitment to prioritize network continuity in times of critical needs and natural disasters situations, Huawei India, in association with partners, undertook disaster relief initiatives for flood affected sites in Kerala ensuring network restoration and connectivity in record 72 hours.

Spouses of Indian IT brigade in US may soon lose work permit

The worst fear of spouses of H-1B visa holders may come true sooner than later. The Trump administration is just a quarter away in bringing a new regulation that would potentially ban dependent visa (H-4) holders from taking up jobs in the country, said a highly placed source in the United States.

H-4 visas are issued by the United States Citizenship and Immigration Services (USCIS) to spouses and kids, below the age of 21, of H-1B visa holders. Since the inception of the scheme in May 2015, the USCIS had approved 1,26,853 such visas and majority of the recipients are Indians.

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