Tag: thellv

  • Canada Cancels Fast-Track Visa: What It Means for Indian Students

    Canada Cancels Fast-Track Visa: What It Means for Indian Students

    Recently, there was a discussion in India’s Lok Sabha about Canada’s decision to cancel its Student Direct Stream (SDS) visa program. This program helped Indian students get study permits more quickly. The Indian government told everyone that this change would actually make it cheaper for students, especially those who found it tough to pay the higher costs of the SDS.

    The SDS program started in 2018 and let students from India and several other countries speed up their study permit applications. However, to use this fast-track option, students had to meet certain rules. They needed to pay for one full year of tuition ahead of time, show they had a Guaranteed Investment Certificate (GIC) of $20,635 to prove they had enough money, and show they could speak English well.

    But on November 8, 2024, the Canadian government ended the SDS program. They said this move was to ensure that all students had equal chances in the application process and to make it fair. After this cancellation, all international students, including those from India, will now apply for a “regular study permit” instead.

    Under the regular process, students no longer need to pay for a whole year of tuition upfront. They now just need to pay for six months of tuition and show they have enough money to cover their living costs. This change is expected to help many students who previously found the SDS program too expensive.

    According to the Ministry of External Affairs, there are about 427,000 Indian students currently studying in Canada. The Indian government is continuously discussing issues that Indian students face in Canada to ensure their well-being.

  • Gold Prices Increase Amid Rate Cut Expectations and Global Tensions

    Gold Prices Increase Amid Rate Cut Expectations and Global Tensions

    Oil prices didn’t change much on Monday. On one hand, there’s hope that demand for oil will go up because factories in China are making more products. On the other hand, people are worried that the U.S. Federal Reserve might not lower interest rates at their meeting in December, which can affect oil demand.

    Brent crude oil prices dropped just 1 cent to $71.83 a barrel. Meanwhile, U.S. West Texas Intermediate crude went up 10 cents to $68.10. A private report showed that Chinese factories are doing better in November, which is good news for the economy. But there are also trade threats from U.S. President-elect Donald Trump.

    In the Middle East, a ceasefire between Israel and Lebanon seems shaky. Israel announced on Monday it was attacking targets in Lebanon after both sides blamed each other for breaking the ceasefire. Despite some problems, the U.S. Pentagon reported that the ceasefire is mostly holding.

    Traders are also keeping an eye on Syria, worried that the ongoing issues there could lead to more problems in the region and affect oil supply. Last week, oil prices dropped more than 3% due to easing worries about supply from the Israel-Hezbollah conflict and predictions of more oil than needed in 2025, even with planned output cuts.

    OPEC+, a group of oil-producing countries, has postponed their next meeting to December 5, where they’ll talk about delaying an oil production increase planned for January. If they postpone this increase, it could help prevent oil prices from falling further.

    Money managers are being cautious and want to see how the new Trump administration’s policies will affect the market, as well as what OPEC+ decides regarding oil supply.

    On top of all this, the Atlanta Federal Reserve President Raphael Bostic said he is still deciding whether to cut interest rates in December. Higher interest rates can make it more expensive to borrow money, which can slow down the economy and decrease oil demand.

    Additionally, the U.S. dollar is getting stronger. Trump recently threatened to impose 100% tariffs on countries in the BRICS group, unless they agree not to create a new currency that could replace the dollar. A stronger dollar means that oil, which is priced in dollars, becomes more expensive for people using other currencies, leading to less demand.

  • Tesla’s $56B Pay Package Ruling: What’s Next for Elon Musk?

    Tesla’s $56B Pay Package Ruling: What’s Next for Elon Musk?

    A judge in Delaware has ruled that Tesla cannot give Elon Musk a huge $56 billion payment for his work as CEO, even though many Tesla shareholders said they supported it. After the judge’s decision in January, Musk told Tesla’s board he wants a new pay package that’s almost as big. He also mentioned on social media that he might want more shares in Tesla or could think about making new products with his other companies, like SpaceX and Neuralink.

    Can Tesla Appeal?
    Musk and Tesla might decide to appeal the judge’s ruling, trying to change the decision at the Delaware Supreme Court. This process usually takes about a year. The case is unique and has some tricky legal details because Musk, even with only about 22% of Tesla’s shares, was seen as controlling the pay discussions.

    Creating a New Pay Plan
    Tesla’s board could come up with a new pay package, but it could be very costly. The original deal from 2018 gave Musk stock options that would only be valuable if Tesla met high goals—and Tesla did meet those goals, causing the stock to rise a lot. The company said that making a new plan that costs as much as the original might need to be more than 90% smaller.

    Bringing Back the Old Plan?
    Tesla could just give Musk the same stock options from 2018 again, but doing so might cause other problems. If shareholders want to challenge this decision, they would have to take the matter to Texas courts, as the company moved its headquarters. However, returning to the old plan would lead to a massive $25 billion charge for Tesla. This money would also be taxed heavily when Musk uses the options, resulting in a potential 57% tax rate.

    Could They Settle?
    Musk might think about settling the lawsuit brought by a Tesla shareholder and accept less money, but this goes against his usual strategy of fighting cases in court.

  • Trading Activity Plummets: New Rules Cause Investor Caution!

    Trading Activity Plummets: New Rules Cause Investor Caution!

    In November, trading in stocks and their related options fell sharply because many investors felt unsure about the market. The Securities and Exchange Board of India (Sebi) introduced new rules to help protect investors from high-risk trading in futures and options. These changes aimed to reduce speculation, which is when people try to make quick profits without properly understanding the risks involved.

    Here’s what happened:

    – Options Trading: The turnover (total money traded) in options, which many individual traders like, dropped by almost 16% in November. This was the steepest monthly drop in over four years. The total amount traded in options fell to ₹333.4 lakh crore, the lowest number since May 2024.

    Futures Trading: Trading in futures on the National Stock Exchange (NSE) also declined by 8.3%. The total for futures trading went down to ₹1.71 lakh crore, the lowest seen since December 2023.

    Stock Market Volumes: The overall daily trading volume in cash stocks fell by 6.23% to ₹1.07 lakh crore, which is the lowest since March 2024.

    These changes come after Sebi noticed many retail traders (individual investors) were losing money—around ₹1.81 lakh crore from FY22 to FY24. New rules also limited the number of futures and options contracts traders can use each week and increased the minimum size for index contracts from ₹5 lakh to ₹15 lakh.

    Experts believe that the new regulations, along with a drop in the market, have made investors more cautious. For instance, since September 27, the Nifty index (a major stock index) fell by 7.3%.

    With the new contract sizes going up, trading volumes may fall even more. For example, the NSE increased the Nifty lot size from 25 to 75 shares, making it more expensive to participate.

    Many in the market are waiting for a clearer direction, especially with upcoming U.S. elections.

    Overall, the recent downturn and new regulations are causing investors to step back, and many are likely looking for safer bets before jumping back in.

  • Biden Administration Imposes New Tech Restrictions on China

    Biden Administration Imposes New Tech Restrictions on China

    On Monday, the Biden administration announced new rules to restrict advanced technology sales to China. These rules aim to stop China from making powerful computer chips used in military tools and artificial intelligence. The new restrictions include stopping the sale of special types of chips and machinery to China and adding over 140 Chinese companies to a trade blacklist.

    This marks the third major update in three years to control China’s access to advanced tech. National security officials believe that allowing China to build these chips could be a danger to the U.S. because they could be used in cyberattacks or military weapons.

    These new rules are expected to be among the last big changes before the upcoming presidential transition to Donald Trump. The Biden administration hopes these measures will help slow down China’s tech progress as part of its legacy.

    The updated rules include banning sales of advanced memory chips to China and establishing worldwide restrictions on many types of chip-making equipment, starting December 31. U.S. companies will also have new guidelines to check the factories they sell to in China. However, some believe that the regulations have been influenced by industry lobbying and that there are exceptions that might benefit U.S. sellers.

  • Puducherry Schools Closed Amid Cyclone Fengal’s Heavy Rain and Flooding

    Puducherry Schools Closed Amid Cyclone Fengal’s Heavy Rain and Flooding

    Due to heavy rain from Cyclone Fengal, all government and private schools, along with colleges in Puducherry, will be closed on Tuesday, December 3. Education Minister A. Namachivayam made this announcement.

    To help those affected by the cyclone, Chief Minister N. Rangaswamy shared that the government will give relief money of ₹5,000 to every household with a ration card that was impacted. Puducherry received a surprising 48% more rain than usual, which damaged about 10,000 hectares of crops. Farmers who lost their crops will receive ₹30,000 for each hectare impacted.

    Cyclone Fengal has caused a lot of damage in both Puducherry and Tamil Nadu. Flooding has damaged 50 boats, and the government will also provide ₹10,000 to help with repairs.

    In particular, the Sankaraparani River in Puducherry saw severe flooding. Over 200 homes in NR Nagar were underwater, leaving many residents stranded. The Indian Army and the National Disaster Response Force (NDRF) are working hard to rescue those in trouble, using boats to navigate the flooded areas and bring people to safety.

  • Asian Stocks Surge Following US Tech Rally – What to Expect in December?

    Asian Stocks Surge Following US Tech Rally – What to Expect in December?

    Asian stock markets went up after good news from Wall Street, where top technology companies helped stocks reach new highs. Japan and South Korea saw their stock indexes rise, and Australian shares also went up. Futures for Hong Kong and the US markets stayed steady. Now, all eyes are on upcoming financial reports and comments from the Federal Reserve (Fed), which will help us understand what might happen with interest rates.

    The S&P 500, a big US stock index, hit another record high for the year, while the tech-focused Nasdaq 100 gained over 1%. The US dollar ended its three-day drop after President-elect Donald Trump warned nations in the BRICS group about their economies. Meanwhile, French stocks and bonds faced pressure as the euro dropped by 1.1% due to political issues in the country.

    Traders are preparing for a busy week of important economic data, especially Friday’s jobs report, which is expected to show an increase in US hiring after problems from hurricanes and a major strike. On Wednesday, Fed Chair Jerome Powell will speak, and investors are hoping for updates about the job market and inflation.

    This week is really important for economic data, according to Tom Essaye from The Sevens Report. If the news is positive, it could lead to a gentle slowdown in the economy and a potential interest rate cut in December. Currently, the S&P 500 increased by 0.2%, while the Nasdaq 100 rose by 1.1%. Tesla Inc. saw a drop in after-hours trading after a judge rejected a huge pay package for its CEO, Elon Musk. The Dow Jones Industrial Average went down by 0.3%, and Treasury yields increased.

    In a move aimed at limiting China’s tech advancements, the US announced new restrictions on China’s access to important parts needed for chips and AI. These new rules could impact companies like SK Hynix and Samsung in South Korea, as well as Micron Technology in the US.

    Chinese investors are anxious for signs of government help to boost their struggling economy, especially since there was no update after a major meeting of the Communist Party. They are looking forward to the upcoming Politburo gathering, which usually focuses on economic issues.

    In Europe, political tensions are rising as Marine Le Pen has threatened to bring down Prime Minister Michel Barnier’s government due to budget disagreements.

    Back on Wall Street, the mood is optimistic. Fed’s Waller mentioned he might support a rate cut later this month, which is in contrast to concerns from a year ago when many feared a tough 2024 for the economy and stock market. A lot of people now believe the stock market will end the year strong.

    Experts suggest we are in a “Goldilocks” zone, where the economy is good enough to support company earnings but also weak enough to allow for rate cuts. December historically brings good market performance, especially when stocks have done well earlier in the year.

    According to Bespoke Investment Group, when the S&P 500 is up more than 20% through November, it usually gains about 1.77% in December.

  • Deloitte Launches AI Center in India: New Opportunities Ahead!

    Deloitte Launches AI Center in India: New Opportunities Ahead!

    Deloitte is planning to open a new center called the Global AI Simulation Centre of Excellence (CoE) in Bengaluru, India. This center will focus on new technologies like artificial intelligence (AI), especially a type called generative AI. In an interview, Nitin Mittal, who leads Deloitte’s global generative AI, explained why India was chosen for this exciting project.

    Why Did Deloitte Pick India?
    Deloitte decided on India for a few important reasons. First, India has a lot of skilled workers in the field, not just in Deloitte but also in startups and schools. Second, many big companies, like those on the Fortune 500 list, operate here. In Bengaluru alone, 38% of these companies are located. Other places, like the Nordic countries, may have talent but not at the same level or price. India offers unique benefits that help both global and local clients.

    How Much Money is Deloitte Investing?
    Deloitte is investing between $5 to $10 million in this new AI center and some related initiatives. This money will be used for things like technology, software, and other resources.

    Will Generative AI Make Services Cheaper?
    While it might seem like costs will go down, generative AI is actually helping create more business opportunities. More clients are interested in working with Deloitte, which means more projects and new areas of advice.

    What Will Change with Generative AI?
    Old methods of giving advice, like creating presentations, are changing. Now, Deloitte uses generative AI to gather insights first and then adds expert opinions. This approach helps clients visualize and interact with information in new ways, leading to more successful deals with new clients.

    Will Deloitte Use Generative AI in Services?
    Yes! In the past 18 months, Deloitte has worked with over 700 clients using generative AI. Currently, about one-third of their clients want to see this type of AI in their projects. In the next 18 months, this number is expected to grow to about two-thirds.

  • Israel Strikes Lebanon in Response to Hezbollah Attack: Tensions Escalate

    Israel Strikes Lebanon in Response to Hezbollah Attack: Tensions Escalate

    On Monday, Israel launched air strikes in Lebanon after Hezbollah claimed to have attacked an Israeli position. This was the first such incident since a fragile ceasefire began last week to end ongoing fighting that has caused many deaths and forced people to leave their homes.

    Both Israel and Hezbollah have been accused of breaking the ceasefire, which started on Wednesday to calm the violence that had affected people on both sides of the border. Israel believes Hezbollah violated the truce and has acted in response.

    Hezbollah reported that it targeted an Israeli post near the contested area of Kfar Shouba. Israel’s military confirmed that Hezbollah fired projectiles at one of its positions at Har Dov, also known as the Shebaa Farms.

    Israeli Prime Minister Benjamin Netanyahu described Hezbollah’s actions as a “serious violation” and promised a strong response. Defence Minister Israel Katz echoed this sentiment, stating that Israel’s military would take strong action. Soon after, Israel announced it was targeting places in Lebanon linked to Hezbollah.

    In Lebanon, the speaker of parliament, Nabih Berri, accused Israel of breaking the ceasefire. He stated that Israel’s actions are a clear violation of the agreement.

    In September, fighting escalated again when Israel shifted its focus from Gaza to Lebanon due to ongoing attacks from Hezbollah. French Foreign Minister Jean-Noel Barrot urged all sides to respect the ceasefire during a conversation with Israeli Foreign Minister Gideon Saar. Saar dismissed the accusations against Israel, saying they were acting only in response to Hezbollah’s violations.

    According to the deal, Hezbollah must pull back its fighters from areas south of the Litani river, and both Lebanese troops and UN peacekeepers should be present there as Israel withdraws over the next two months.

    A committee made up of representatives from France, the UN, Israel, Lebanon, and the US is responsible for monitoring this agreement and addressing any violations. Berri criticized the committee for not acting on the more than 54 violations he claimed had occurred, and urged them to ensure Israel stops its actions in areas it occupies.

    Despite the violence, the United States believes the ceasefire is still in place and is monitoring any potential violations. Recently, an Israeli strike reportedly killed one person in southern Lebanon, and an Israeli drone injured a Lebanese soldier in the east. The situation is tense as both sides continue to blame each other for the rising violence.

  • Allegations Unravel: Asit Modi’s Controversial Behavior on Taarak Mehta

    Allegations Unravel: Asit Modi’s Controversial Behavior on Taarak Mehta

    There have been serious accusations against Asit Kumarr Modi, the producer of the popular show “Taarak Mehta Ka Ooltah Chashmah.” First, Jennifer Mistry Bansiwal, who used to play the character of Female Jethalal, accused him of sexual harassment. She claimed that Asit made unwanted advances toward her multiple times and even tried to stop her from leaving the set. Jennifer shared a scary story from March 2019 when they were in Singapore for a shoot. Asit complimented her in a way that made her uncomfortable, saying her lips were “worth kissing” and inviting her to his room. She said her colleagues had to step in to help her and keep him away.

    Jennifer also mentioned that when she was pregnant, they fired her from the show despite her wanting to stay and suggesting new story ideas. Moreover, she faced issues with unpaid salaries where her pay was cut for half days even after informing them in advance.

    Monika Bhadoriya, who played Bawri on the show from 2013 to 2019, also spoke out about Asit’s bad behavior on set, describing it as “gundagardi” or bullying. She said Asit calls himself “God” and made her sign a contract to silence her. She, along with other actors like Raj Anadkat and Gurucharan Singh, mentioned that they are still waiting for their unpaid salaries.

    Shailesh Lodha, another former actor, quit the show nearly a year ago and is still fighting with Asit over unpaid money. Shailesh mentioned that he didn’t chase Asit for a role, as he was already a well-known poet before joining the show. Although Shailesh shared a poem that many thought was a jab at Asit, he prefers to keep quiet about the ongoing case.