Thursday, July 7

Month: February 2022

PM Gati Shakti to play big role in development of modern infra: PM Modi
India

PM Gati Shakti to play big role in development of modern infra: PM Modi

Prime Minister Narendra Modi on Monday said the PM Gati Shakti initiative will help in further developing modern infrastructure in the country through better coordination and monitoring. He also asked the private sector to partner with the government and increase investments. The PM Gati Shakti - National Master Plan was announced last year to break departmental silos and bring in more holistic and integrated planning and execution of projects to address the issues of multi-modal and last-mile connectivities. This will help in bringing down the logistics cost, Modi said while addressing the Department for Promotion of Industry and Internal Trade (DPIIT) stakeholders' meet on PM Gati Shakti. This will help in bringing down the logistics cost, Modi said while addressing the Departme...
Budget provides for vibrant ecosystem in defence manufacturing: PM Modi
India

Budget provides for vibrant ecosystem in defence manufacturing: PM Modi

Highlighting challenges faced in procuring defence equipment from abroad, Prime Minister Narendra Modi on Friday stressed on promotion of the 'AatmaNirbhar Bharat' and 'Make in India' campaign in defence manufacturing. The Prime Minister also highlighted that about 70 per cent of the defence budget has been kept for the domestic industry only. Addressing a webinar on 'Aatmanirbharta in Defence - Call to Action', the Prime Minister said, "When we procure weapons from outside, its process is so long that by the time they reach our security forces, many of them become outdated. Its solution is in 'AatmaNirbhar Bharat campaign' and 'Make in India'." The Prime Minister mentioned that this year's Union budget has a blueprint for developing a vibrant ecosystem from research and developme...
Ukraine says Russian army attacked from Belarus
WORLD NEWS

Ukraine says Russian army attacked from Belarus

Ukraine’s border guard agency says that the Russian military has attacked the country from neighboring Belarus. The agency said that the Russian troops unleashed artillery barrage as part of an attack backed by Belarus. They said the Ukrainian border guards were firing back, adding that there was no immediate report of casualties. Russian troops have deployed to its ally Belarus for military drills, a move that the West saw as a prelude to an invasion of Ukraine. The Ukrainian capital of Kyiv is about 75 kilometers (50 miles) south of the border with Belarus.
Capital Varsity

Why is VBA important for finance professionals?

Automation is the buzzword in today's corporate world. Whether it is the finance industry or the service industry all businesses are looking for an employee who can improve efficiency and output. If you want to pursue a career in finance, you must be well-versed with Visual Basic Application (VBA). What is VBA in Excel? VBA is a programming language that was developed by Microsoft Corp. It allows users to access functions beyond what is available in the MS Office application. Users can also use VBA to customize applications to meet the specific needs of their business. It creates user-defined functions, recording and running macros, and automating the computer process. How is VBA used in Finance? VBA analyzes huge data, so it not only useful to individuals, but also corporate users. VB...
Union Budget will be of great help in implementing National Education Policy: PM Modi
Economy

Union Budget will be of great help in implementing National Education Policy: PM Modi

Prime Minister Narendra Modi on Monday said the Union Budget for 2022-23 will be of great help in implementing the National Education Policy on the ground and asserted that the decision to set up a National Digital University can solve the problem of shortage of seats in educational institutions in the country. Addressing a webinar on the positive impact of the Union Budget 2022-23, Modi said the budget focuses on five aspects related to the education sector -- universalization of quality education, skill development, urban planning and design, internationalization and AVGC (Animation Visual Effects Gaming Comic). Prime Minister Modi asserted that digital connectivity is what kept the education system running in this time of global pandemic. "We are seeing how the digital divide is r...
Google announces privacy sandbox to limit data sharing for ads on Android
WORLD NEWS

Google announces privacy sandbox to limit data sharing for ads on Android

Search engine giant Google has announced a multi-year initiative to build a privacy sandbox on Android, with the goal of introducing more private advertising solutions. These solutions will limit sharing of user data with third parties and operate without cross-app identifiers, including advertising ID. “We’re also exploring technologies that reduce the potential for covert data collection, including safer ways for apps to integrate with advertising SDKs. The Privacy Sandbox on Android builds on our existing efforts on the web, providing a clear path forward to improve user privacy without putting access to free content and services at risk,” the company said. Developers can review Google’s initial design proposals for the solution and share feedback on the Android developer site. Th...
World Bank warns developing nations of post-COVID fragility in financial sector
Economy

World Bank warns developing nations of post-COVID fragility in financial sector

The World Bank has called on developing countries to improve the health of their financial sectors, warning that risks created by the COVID-19 pandemic had led to certain fragilities from what it called 'non-transparent debt'. These risks – as per the Bank's World Development Report 2022, released on February 15 – may currently be hidden by the interrelated nature of household, corporate, bank, and government balance sheets. "The risk is that the economic crisis of inflation and higher interest rates will spread due to financial fragility. Tighter global financial conditions and shallow domestic debt markets in many developing countries are crowding out private investment and dampening the recovery," World Bank Group President David Malpass said. According to the World Development...
Indices slump 3% as fears on Ukraine grow; India VIX index jumps 23%
Stock Market

Indices slump 3% as fears on Ukraine grow; India VIX index jumps 23%

Global stocks were caught in the crosshairs of Russia-Ukraine tensions on Monday, with India’s benchmark indices falling more than 3 per cent as the threat of an imminent war prompted investors to flee risky assets. Brent crude prices rose past $96 a barrel, the highest level in more than seven years, stoking concerns that they will dent corporate profitability and worsen the macroeconomic situation. Other commodities also rallied on fears of US sanctions against Russia, sparking worries about further acceleration in inflation. The call by a US Federal Reserve official for raising interest rates by a full percentage point also provided more ammunition to bears. The Sensex dropped 1,747 points, or 3 per cent, to finish at 56,406, the lowest since December 21, 2021. The Nifty50 index f...
Biological E seeks EUA for its Corbevax vaccine for 12-18 years age group
Coronavirus News

Biological E seeks EUA for its Corbevax vaccine for 12-18 years age group

Biological E has sought emergency use authorisation from India's drug regulator for its COVID-19 vaccine Corbevax for the 12 to 18 years age group, official sources said on Sunday. The Drugs Controller General Of India (DCGI) has already approved Corbevax, which is India's first indigenously developed RBD protein sub-unit vaccine against COVID-19, for restricted use in emergency situation among adults on December 28. In an application sent to DCGI on February 9, Srinivas Kosaraju, head of Quality and Regulatory Affairs of Biological E Limited, said the firm had received approval for conducting phase 2/3 clinical study of Corbevax among children and adolescents aged 5-18 years in September. "Based on the no-objection certificate, Biological E has initiated the clinical study in Oct...
India logs 50,407 new coronavirus cases, 804 deaths
Coronavirus News

India logs 50,407 new coronavirus cases, 804 deaths

India saw a single-day rise of 50,407 coronavirus infections, which took the tally of cases to 4,25,86,544, while the active cases have declined to 6,10,443, according to Union health ministry data updated on February 12. The death toll has climbed to 5,07,981 with 804 daily fatalities, the data updated at 8 am stated. The daily COVID-19 cases are being recorded at less than one lakh for the last six consecutive days. The active cases comprise 1.43 percent of the total infections, while the national COVID-19 recovery rate has further improved to 97.37 percent, the ministry said. It said a reduction of 87,359 cases has been recorded in the active COVID-19 caseload in a span of 24 hours. The daily positivity rate has been recorded at 3.48 percent, while the weekly positivity rate has b...