News in Numbers: Japan looking to recruit 200,000 Indian IT professionals
What is it? The net worth of Travis Kalanick, former CEO of ride-hailing company Uber, according to Forbes.
Why is it important? Kalanick, who was forced to resign as CEO of Uber last year, on Thursday said he was launching his venture investment fund by the name of 10100 (pronounced ten one hundred) to oversee both his for-profit investments and his non-profit work. In the investments space, its big theme is “large-scale job creation”, with investments in real estate, e-commerce and emerging innovation in India and China. On the non-profit side, its initial focus will be on education and future of cities.
Tell me more: Kalanick was reportedly looking to sell $1.4 billion worth of his Uber shares to SoftBank. He still holds a seat on the Uber board.
What is it? The amount for which the Indian government on Thursday sought Parliament’s approval for net additional spending in 2017-18.
Why is it important? The net additional spending request comes as the ruling government looks to boost its prospects in the 2019 general elections by spending more on rural infrastructure and sectors that would generate employment. This is, however, unlikely to affect India’s fiscal deficit target for 2017-18, which was raised to 3.5% of the GDP (gross domestic product), from 3.2% earlier, to boost spending.
Tell me more: This includes Rs62,700 crore as goods and services tax compensation to state governments and Union territories and Rs9,260 crore for pension payments to armed forces.
What is it? The number of Indian IT (Information Technology) professionals Japan is looking to recruit.
Why is it important? This comes at a time when the Indian IT industry is facing headwinds in the US, which recently made it tougher for professionals to get the coveted H1B visas, given its President Donald Trump’s poll promises of hiring Americans. At home, the job prospects in this industry are not bright either, given that in 2017-18, net employee addition has been about 100,000 against the earlier projection of 150,000.
Tell me more: Japan is looking for highly skilled professionals, especially in life sciences, finance, services and agriculture. It will issue green cards to recruits to help them receive permanent resident status within a year.
Why is it important? The top court on Thursday said Hadiya’s marriage to Shafin Jahan is legal and valid, and that the former entered the relationship by her free will and consent. However, it also said the National Investigation Agency can continue to probe the “love jihad” angle in accordance with the law. The term “love jihad” refers to Muslim men allegedly getting into a conspiracy to lure Hindu women by marrying them to get them to embrace Islam.
Tell me more: Hadiya’s father said it is painful to send her with an “extremist” and that he would consider filing a review petition in the Supreme Court.
What is it? The duty to be levied on steel imported into the US, along with 10% on aluminium imports. US president Donald Trump signed the order on Thursday and the tariffs will kick in within 15 days.
Why is it important? It’s the first salvo fired by Trump in the name of protecting American jobs and he warned more such “reciprocal tariffs” were coming against countries whose tariffs were higher than the US. For a country that led the way to open world markets, this is a step in the other direction, and some have raised fears of tit-for-tat actions unsettling the global trade balance.
Tell me more: American steel and aluminium stocks fell on Thursday: Nucor, the largest American steel producer, fell 2.7%. Alcoa, the biggest US aluminium producer, ended down 0.9%.
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