Photo: India Today
Amazon Layoff Continues With 500 Employees In India
Amazon continues to layoff more employees in various verticals of India. This fresh round of downsizing is part of the broader layoffs announced by CEO Andy Jassy in March, affecting approximately 9,000 employees. The process is ongoing, people familiar of the matter said, adding that the employees are being laid off from Web Services, Human Resources and Support department. This another wave of layoff which Amazon employees are witnessing.… read-more
Tags: Amazon, layoff, Business News, employees, Economic crisis
Courtesy: NDTV
Photo: The Indian Express
Twitter Plans To Buy Silicon Valley Bank After Crisis?
Twitter CEO Elon Musk says, he is ready to by Sillicon Valley Bank, after the shocking crisis. On March 11, the Tesla Owner responded e to a tweet posted the Razer Inc CEO Min-Liang-Tan, which read, "I think Twitter should buy SVB and become a digital bank." Reacting to this tweet, Musk shared a cryptic post, indicating that he could buy SVB. "I'm open to the idea," tweeted Musk.
Tags: Twitter CEO, Elon Musk, Silicon Valley Bank, Economic crisis, Min Liang Tan
Courtesy: The Free Press Journal
Photo: First Post
Pakistan Govt Increases Tax On Luxurious Item Import Amid Economic Crisis
In order to attract the IMF deal, the Pakistan Government announced a hike in taxes on import of luxurious items. The increased taxes on import of items like cars, home appliances, chocolates and cosmetics to 25%. The decision was taken after a go-ahead from the Pakistan Parliament, to attract the IMF loan of 6 billion, which has been in talks, which has created a struggle for economic survival for Pakistan.
Tags: Pakistan Government, Tax Hike, Import, IMF, Economic crisis
Courtesy: NDTV
Photo: The Indian Express
Milk, Meat And Chicken Prices Goes Up In Pakistan Amid Crisis
At a time when Pakistan is suffering a major economic crisis, the prices of milk, meat and chicken along with other utilities increased, in effect from February 14. According to sources, milk is now at PKR 210/liter, whereas meat and chicken is available at PKR 1,110/kg and PKR 780/kg, respectively. The IMF postponed the disbursement of a vital USD 1.1 billion tranche of a deal, causing trouble to Pakistan.
Tags: Pakistan(40, ), Economic crisis, meat, Milk, IMF
Courtesy: Zee News India
Photo: NewsIn Asia
Former Sri Lankan President Gotabaya Rajapaksa To Be Sued; Sri Lankan Court Allows Proceedings
Sri Lanka’s top court has giving permission for proceedings against former Sri Lankan President Gotabaya Rajapaksa. This has come after rights group Transparency International filed a case against Rajapaksa, holding him accountable for the island nation’s worst financial crisis in more than seven decades. The court has also agreed to entertain proceedings against former PM Mahinda Rajapaksa.
Tags: Sri Lanka, Colombo, Gotabaya Rajapaksa, Mahinda Rajapaksa, Economic crisis
Courtesy: Hindustan Times
Photo: NewsIn Asia
Former Sri Lankan President Gotabaya Rajapaksa Returns To Colombo, Travels With Heavily Armed Guards
Ousted former Sri Lankan President Gotabaya Rajapaksa has returned to his homeland of Sri Lanka, seven weeks after fleeing the country. Rajapaksa, landed in Colombo’s Bandaranaike International Airport, on September 3, and traveled to a government-owned house allocated to him as the former President in a motorcade with heavily armed bodyguards. Rajapaksa had fled the country in July, after agitated citizens stormed his residence amid the… read-more
Tags: Sri Lanka, Economic crisis, Gotabaya Rajapaksa, Mahinda Rajapaksa, Colombo
Courtesy: Hindustan Times
Photo: NewsIn Asia
Gotabaya Rajapaksa To Return To Sri Lanka On September 3
Former president of Sri Lanka Gotabaya Rajapaksa, will reportedly end his self-imposed exile on September 3, and return to his home land. Rajapaksa has been living in a Thai hotel as a virtual prisoner. Rajapaksa fled the country as his residence was outrun by agitated citizens. The island nation is facing the worst political turmoil recorded in the nation’s history, followed by an economic crisis, with food and fuel shortage.
Tags: Gotabaya Rajapaksa, Sri Lanka, Colombo, Thailand, Economic crisis
Courtesy: Hindustan Times
Photo: Colombo Page
Sri Lanka Receives $1.5 Mn Food Assistance From Japan Amid Rising Food Crisis
Sri Lanka received the first tranche of food assistance worth USD 1.5 million from the government of Japan, on August 30. This has come as per the promise made by Japan earlier this year, through the United Nations World Food Programme (WFP). Reportedly, over six million Sri Lankans (roughly 30% of the total population), are facing a grim food crisis.
Tags: Sri Lanka, Japan, food crisis, Economic crisis, WFP
Courtesy: ANI
Photo: Maritime Gateway
India Sends 21,000 Tonnes Of Fertilisers To Sri LankanAs Humanitarian Assistance
Amid the ongoing Sri Lankan crisis, India has donated around 21,000 tonnes of fertilisers to the crisis-ridden nation. Notably, India supplied 44,000 tonnes of fertilisers to Sri Lanka in the previous month. With this, India has provided support to the island nation worth USD 4 billion. The economic crisis in Sri Lanka continues to stay grim, with UN warning that 5.7 million people in Sri Lanka “require immediate humanitarian assistance”.
Tags: Sri Lanka, Colombo, Fertilisers, Economic crisis, Rajapaksa
Courtesy: ANI
Photo: Business Standard
Xiaomi Reportedly Fires Over 900 Employees Amid Economical Crisis
Amid the economical crisis due to the Covid-19 pandemic, Xiaomi reportedly fired more than 900 employees. On August 21, local media reported that the Chinese smartphone manufacturer Xiaomi fired close to 3% of its workforce. The company reported a sharp decline in the second quarter revenue and to control the expenses and crisis, let go of the employees. However, Xiaomi has not yet made this confirmation.
Tags: Xiaomi, Chinese Mobile, Work Force, Covid-19 Pandemic, Economic crisis
Courtesy: Zee News India
