Miscellany

Miscellany

July 1 GST deadline missed, but efforts on for consensus:J&K

Jammu and Kashmir has missed the July 1 deadline for Goods and Services Tax (GST) rollout as the state government maintained that it is in "consultations" to build a consensus for implementing the new tax regime.
"We have missed the deadline but we are in the process of consultations for building a consensus. We feel the wait is worth it," senior minister and government spokesman Naeem Akhtar told PTI.

Exclusive: Indian Railways safety overhaul at risk due to rail shortage - documents

A planned $15 billion safety overhaul of India's ageing rail network is facing delays as the country's state steel company is unable to meet demand for new rails, according to two government documents seen by Reuters.

State-owned Steel Authority of India Ltd (SAIL) (SAIL.NS) has promised to meet only around 78 percent of demand in the year to end-March 2018, prompting Indian Railways to escalate the problem to the office of Prime Minister Narendra Modi, communications between the railways and the steel ministry show.

AI will add $15.7t to global economy

Artificial intelligence may not be so threatening after all. Amid warnings of the economic disruption that robots and automation could unleash on the world economy as traditional roles disappear, researchers are finding that new technologies will help fuel global growth as productivity and consumption soar.
AI will contribute as much as $15.7 trillion to the world economy by 2030, according to a PwC report on Wednesday. That’s more than the current combined output of China and India.

Extortion hacks breach firewalls

A recent outbreak of ransomware attacks, from the WannaCry worm in May to Tuesday’s infection of thousands of computer systems around the globe, shows that digital stickups are becoming the go-to hack for cybercriminals, fueled by powerful leaked US government exploits and the rise of bitcoin and other anonymous digital currencies.

GSAT-17 to be launched from French Guiana

India’s latest communication satellite GSAT-17 will be launched early today onboard Arianespace rocket from Kourou in French Guiana.
“GSAT-17 is scheduled to be launched at 2:29 hrs IST on June 29 by the Ariane-5 launch vehicle,” the Indian Space Research Organisation (ISRO) said here on Wednesday.

Govt makes PAN linking with Aadhaar mandatory from Ju

All PAN card holders will have to link the income tax permanent account number with their 12- digit biometric identifier Aadhaar from July 1, a government notification said.
Also, Aadhaar number or Aadhaar enrolment ID will have to be mandatorily quoted while applying for PAN as well as for filing of income tax returns.

India's largest container port disrupted by global cyber attack

Operations at one of three terminals at India's largest container port JNPT, near the commercial hub of Mumbai, have been disrupted by the global ransomware attack, the port said on Wednesday.

The affected terminal is operated by Danish shipping giant AP Moller-Maersk, which said on Tuesday that the cyber attack had caused outages in its computer systems globally.

Ready or not, Indian businesses brace for biggest-ever tax reform

Businessman Pankaj Jain is so worried about the impending launch of a new sales tax in India that he is thinking of shutting down his tiny textile factory for a month to give himself time to adjust.

Jain is one of millions of small business owners who face wrenching change from India's biggest tax reform since independence that will unify the country's $2 trillion economy and 1.3 billion people into a common market.

Bias still at work, men preferred over women in corporate hiring

Gender diversity may be a politically correct proposition, but when it comes to corporate hiring, the reality is men are preferred to women even if the two are equally qualified for the same job.
This is one of the findings by a Randstad Workmonitor survey, where 55 per cent of overall respondents from India indicated that men are favoured over women when two candidates are equally qualified for the same set of responsibilities.

Cyber attacks wobble MNCs

Several multinational companies said on Tuesday they were targeted in a massive wave of cyber attacks, which started in Russia and Ukraine before spreading to western Europe.
Danish sea transport company Maersk, British advertising giant WPP and the French industrial group Saint-Gobain were among those who said they came under attack and put protection protocols in place to avoid data loss.
The first reports of trouble came from Ukrainian banks, Kiev’s main airport and Russia’s Rosneft oil giant, in a major incident reminiscent of the recent WannaCry virus.

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