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India gets six-month exemption on Chabahar port: MEA
India calls UN report on Pahalgam ‘blinkered and baseless’
India calls UN report on Pahalgam ‘blinkered and baseless’
"The United States has granted India a six-months exemption from sanctions on the Chabahar port in Iran", the Ministry of External Affairs (MEA) said on 30th October. This will allow India to continue its work and operations in the strategically important port project, which is also important for Indian trade and connectivity in Afghanistan and Central Asia. The sanctions on the Chabahar port project in Iran took effect on September 29 when US and Iran were locked in a war. POTUS put sanctions on using the port to exert pressure on Iran and to stop its nuclear programme. This affected India, as it has been involved in the development of the Chabahar port.
In 2018, Donald Trump had exempted India to continue developments at the Chabahar port despite it imposing extensive sanctions on Iran.
But after the change of government in Afghanistan in 2021, Indian operations and development in the region got affected too.
Talking about India-US relationship MEA spokesperson Randhir Jaiswal said that India values its relationship with the United States. “India-US relationship is a comprehensive global strategic partnership. We remain engaged with both countries to strengthen it further,” he said.
India calls UN report on Pahalgam ‘blinkered and baseless’
India calls UN report on Pahalgam ‘blinkered and baseless’
India calls UN report on Pahalgam ‘blinkered and baseless’
India has slammed the United Nations report on Myanmar’s human rights issue. The Report links refugees from Myanmar to the Pahalgam attack this year. In a statement at the UN General Assembly, Lok Sabha MP Dilip Saikia said, “My country rejects such prejudiced and blinkered analysis by the Special Rapporteur Thomas Andrews." The MP said that linking the April attack to Myanmar refugees has “no factual bearing whatsoever.”
Andrews alleged that refugees in India are facing pressure, detention, and deportation threats from local authorities. Saikia added that UN should “not to rely on unverified and skewed media reports” that intend to tarnish India’s image.
The Parliamentarian from Assam said that India is worried about Myanmar’s deteriorating condition and issues like arms smuggling, drugs and human trafficking. The MP added, that displaced people are vulnerable to radicalisation and can create law and order issues for both the countries. He pointed at the India’s humanitarian outreach, including Operation Brahma, for Myanmar post earthquake in Myanmar in March this year, and earlier relief operations like Operation Sahayata and Operation Sadbhav.
Amazon cuts 14,000 corporate jobs due to AI adoption
India calls UN report on Pahalgam ‘blinkered and baseless’
Amazon cuts 14,000 corporate jobs due to AI adoption
Another round of layoffs hits Amazon. Company is now looking to layoff 14,000 employees amid the news of it stepping up investment in AI. Last year the company had 1.56 million employees. On Monday, Reuters had reported that Amazon may layoff 30,000 employees after over-hiring during Covid. Amazon has been cutting jobs at its devices, books and services units. Amazon
CEO Andy Jassy clearly said that as the usage of generative AI tools grows in the company, the corporate workforce will reduce at the USs' second largest job creating company.
The e-commerce giant had hired a lot of people during the Pandemic as due to lockdowns people were relying on the door to door deliveries.
The AI threat to jobs is clearly visible in this case as the corporation is relying on AI tools reduce cost of employees and reduce reliance on humans. This can trigger the AI taking away jobs debate again. On October 27, Amazon managers received urgent emails about how to communicate with employees about immediate termination which was to happen the very next day i.e October 28th. The layoffs are about 10% of its 350,000 workforce and is the biggest in the Tech industry since 2020. Job cuts happened not only in other arms but the Human Resource division as well. A total of 15% of employee cuts have been cleared for the HR team as reported by Reuters. The CEO Andy Jassy has investing over $100 billion in AI adoption andd implementation.
Nvidia breaks records. Is now a $5 trillion company
Amazon cuts 14,000 corporate jobs due to AI adoption
Global Tech giant Nvidia has become the first company to reach $5 trillion market valuation making it the boss of AI firms. Owing to the launch of ChatGPT in 2022, Nvidia's shares have jumped 12 times. Just three months ago, Nvidia had breached the $4 trillion mark valuation mark.
Nvidia CEO Jensen Huang also a unveiled new investment of $500 billion in AI chip initiatives on 28th October and has announced to build seven supercomputers for the U.S. government. In his upcoming meet up with Chinese Premier Xi Jinping, US President Donald Trump will be discussing Nvidia's high end Blackwell chips on 30th October. This has been a contentious issue between the two countries.
Nvidia CEO Huang's personal stake in the tech giant has also gone up. His personal stake is worth ~$177.3 billion and he is currently world's eighth-richest person. Huang was born in Taiwan and grew up in the United States. He founded Nvidia in 1993 and now Nvidia's H100 and Blackwell processors are driving AI tools like ChatGPT and Musk's xAI. Nvidia's rise also took the Wall Street high, making other tech stocks shine as well.
Air India losing Rs 4000 cr due to Pakistan airspace closure
The closure of the Pakistani airspace is causing a lot of operational issue for Air India, this is what Air India CEO Campbell Wilson said on Tuesday. Post Pahalgam attack, which saw India launch Operation Sindoor which led to both the countries closing their airspace for each other is inflicting cost trouble for the aviation sector. According to an estiamte, the Indian carrier is facing an estimated ₹4,000 crore loss so far. This is second big setback to the carrier post the Ahmedabad air crash.
Wilson adds that Pakistani airspace closure has forced Air India to reroute its flights to Europe and North America, which results in significant increase in fuel consumption, turnaround times and crew costs
"(Pak) airspace closure causing an impact of 4000Cr to Air India," Campbell said at an event.
The restrictions are affecting both commercial and military aircrafts by both the countries causing a major disturbance to travellers and crew. Routes in and around India to Europe and the US - which are Air India’s most profitable sectors - have been hit badly. Flight durations to these destinations ahve gone up by an hour and 90 minutes.
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