Latest news with #&UrbanDevelopment
Time of India
9 hours ago
- Business
- Time of India
China introduces subsidy to spur population growth
BEIJING : China announced that it will start handing out childcare subsidies across the nation, in its latest push to boost birthrates after a worrying drop in recent years. The government will spend 3,600 yuan ($502) a year per child under age three, according to the official Xinhua News Agency. The assistance, effective retrospectively from Jan. 1 this year and available regardless of the first-, second- or third-child, is meant as an incentive for young couples wary of rising costs of child-rearing . Explore courses from Top Institutes in Please select course: Select a Course Category Public Policy MCA Management healthcare Degree Cybersecurity Healthcare Leadership Design Thinking Data Science others Data Science Data Analytics Project Management Others Operations Management Digital Marketing MBA Product Management Finance PGDM CXO Artificial Intelligence Technology Skills you'll gain: Economics for Public Policy Making Quantitative Techniques Public & Project Finance Law, Health & Urban Development Policy Duration: 12 Months IIM Kozhikode Professional Certificate Programme in Public Policy Management Starts on Mar 3, 2024 Get Details Skills you'll gain: Duration: 12 Months IIM Calcutta Executive Programme in Public Policy and Management Starts on undefined Get Details The policy is expected to benefit more than 20 million families each year, Xinuha reported. China has previously offered tax breaks and has been working to offer more affordable daycare services, it said. The latest measure follows China's population shrinking for a third straight year in 2024. New births at 9.54 million last year was only half of the 18.8 million registered in 2016 when China lifted its one-child policy. Diminishing birthrate is a worry for the world's second-largest economy, where the working-age population has been declining in a threat to labour supply and productivity. The country, which lost its title as the most-populous nation to India in 2023, may see its population drop further to 1.3 billion by 2050 and below 800 million by 2100, according to the UN's demographic modelling. Live Events That outlook stems from the alarming drop in marriage rates .
Time of India
3 days ago
- Automotive
- Time of India
Delhi govt moves SC against blanket ban on overage vehicles
Delhi government has moved the Supreme Court challenging the blanket ban on diesel vehicles older than 10 years and petrol vehicles older than 15 years. A three-judge bench headed by Chief Justice Bhushan R Gavai is likely to hear the plea on July 28, which seeks recall of the court's October 29, 2018, order that upheld the National Green Tribunal 's initial directive. Explore courses from Top Institutes in Please select course: Select a Course Category Public Policy Others Artificial Intelligence Operations Management Data Analytics Data Science Management MCA PGDM Design Thinking Data Science Cybersecurity Digital Marketing MBA Finance Product Management healthcare CXO Leadership Technology Healthcare others Project Management Degree Skills you'll gain: Economics for Public Policy Making Quantitative Techniques Public & Project Finance Law, Health & Urban Development Policy Duration: 12 Months IIM Kozhikode Professional Certificate Programme in Public Policy Management Starts on Mar 3, 2024 Get Details Skills you'll gain: Duration: 12 Months IIM Calcutta Executive Programme in Public Policy and Management Starts on undefined Get Details The plea submitted that a comprehensive policy is required to tackle pollution in Delhi-NCR, which gives vehicle fitness based on actual emission levels of individual vehicles as per scientific methods rather than implementing a blanket ban based solely on age. The plea seeks a comprehensive study by the Centre and CAQM to assess the actual environmental benefits of age-based restrictions versus emission-based criteria. The apex court had earlier directed the transport departments of states in the National Capital Region (NCR) that all diesel vehicles more than 10 years old and petrol vehicles more than 15 years old shall not ply in terms of order of the National Green Tribunal (NGT) order. Live Events "All vehicles, diesel or petrol, which are more than 15 years old shall not be permitted to ply on the roads and wherever such vehicles of this age are noticed, the concerned authorities shall take appropriate steps in accordance with law, including seizure of the vehicles in accordance with the provisions of the Motor Vehicle Act. "The vehicles which are more than 15 years old, will not be permitted to be parked in any public area, and they shall be towed away and challenged by the police in accordance with the law. This direction would be applicable to all vehicles without exception i.e. two wheelers, three wheelers, four wheelers, light vehicles and heavy vehicles irrespective of whether commercial or otherwise," the NGT said in its November 26, 2014, order.
Time of India
4 days ago
- Business
- Time of India
He's not from IIT, IIM. Meet DU grad who manages Elon Musk's finances and earns Rs 1,100 crore. Who is Vaibhav Taneja?
He's one of the most trusted members of Elon Musk 's retinue and manages his $400 million (approximately Rs 33.938 crores) net worth. And he's not from IIT or IIM. Meet Vaibhav Taneja . The Indian-origin chartered accountant currently works as chief financial officer at Tesla and draws a whopping Rs 1100 crore every year, as per a The Wall Street Journal report. According to a report published by Financial Express, Vaibhav Taneja has been officially appointed as the treasurer and custodian of records for Elon Musk's recently unveiled political initiative, the America Party . This marks a significant transition in Taneja's career, as he previously served as the Chief Financial Officer (CFO) of Tesla, the renowned electric vehicle and clean energy firm. Explore courses from Top Institutes in Please select course: Select a Course Category Public Policy Management Artificial Intelligence Technology others Data Analytics Finance Cybersecurity Operations Management CXO MBA Degree Data Science Healthcare Project Management PGDM Others Product Management MCA Design Thinking Digital Marketing Data Science healthcare Leadership Skills you'll gain: Economics for Public Policy Making Quantitative Techniques Public & Project Finance Law, Health & Urban Development Policy Duration: 12 Months IIM Kozhikode Professional Certificate Programme in Public Policy Management Starts on Mar 3, 2024 Get Details Skills you'll gain: Duration: 12 Months IIM Calcutta Executive Programme in Public Policy and Management Starts on undefined Get Details As per his LinkedIn profile, Taneja completed his undergraduate degree in commerce at Delhi University in 1999. The following year, he achieved the distinction of becoming a chartered accountant. His pursuit of global qualifications led him to the United States in 2006, where he obtained the prestigious Certified Public Accountant (CPA) credential, laying the groundwork for an expansive international finance career. Taneja's professional experience is extensive, beginning with nearly 17 years at the global consulting giant PricewaterhouseCoopers (PwC). During this period, he was involved in managing financial operations, regulatory filings, and IPO processes for a broad portfolio of more than 500 clients. His transition into the renewable energy sector began in 2016, when he joined SolarCity, a company focused on solar technology, which was later absorbed into Tesla's operations. By 2017, Taneja had become an integral part of Tesla and quickly advanced within the organization. In 2023, he was elevated to the position of Tesla's CFO. In the following year, his total compensation reached approximately $139.5 million (equivalent to nearly ₹1,157 crore), though his base salary was only $400,000. The remainder of his income came from stock options and equity-based awards. Additionally, Taneja holds the role of Director at Tesla India Motors and Energy Pvt. Ltd., where he has been a key figure in driving Tesla's market entry and operations in India. With his new responsibilities in the America Party, Taneja will oversee political funding, budget allocation, and compliance with financial regulations. Elon Musk has once again demonstrated his confidence in Taneja—not just for guiding Tesla's financial direction, but now also for securing the monetary backbone of his emerging political movement.
Time of India
5 days ago
- Business
- Time of India
Spy cockroaches and AI robots: Germany plots the future of warfare
For Gundbert Scherf - the co-founder of Germany 's Helsing , Europe 's most valuable defence start-up - Russia's invasion of Ukraine changed everything. Scherf had to fight hard to attract investment after starting his company - which produces military strike drones and battlefield AI - four years ago. Explore courses from Top Institutes in Please select course: Select a Course Category Public Policy Others others Operations Management Technology Data Analytics Project Management Management MBA Degree Leadership Design Thinking healthcare Data Science Healthcare CXO Digital Marketing Product Management Finance MCA Cybersecurity PGDM Data Science Artificial Intelligence Skills you'll gain: Duration: 12 Months IIM Calcutta Executive Programme in Public Policy and Management Starts on undefined Get Details Skills you'll gain: Economics for Public Policy Making Quantitative Techniques Public & Project Finance Law, Health & Urban Development Policy Duration: 12 Months IIM Kozhikode Professional Certificate Programme in Public Policy Management Starts on Mar 3, 2024 Get Details Now, that's the least of his problems. The Munich-based company more than doubled its valuation to $12 billion at a fundraising last month. "Europe this year, for the first time in decades, is spending more on defense technology acquisition than the U.S.," said Scherf. The former partner at McKinsey & Company says Europe may be on the cusp of a transformation in defence innovation akin to the Manhattan Project - the scientific push that saw the U.S. rapidly develop nuclear weapons during World War Two. Live Events "Europe is now coming to terms with defense." Reuters spoke to two dozens executives, investors and policymakers to examine how Germany - Europe's largest economy - aims to play a central role in the rearming the continent. Chancellor Friedrich Merz's government views AI and start-up technology as key to its defence plans and is slashing bureaucracy to connect startups directly to the upper echelons of its military, the sources told Reuters. Shaped by the trauma of Nazi militarism and a strong postwar pacifist ethos, Germany long maintained a relatively small and cautious defence sector, sheltered by U.S. security guarantees. Germany's business model, shaped by a deep aversion to risk, has also favoured incremental improvements over disruptive innovation. No more. With U.S. military support now more uncertain, Germany - one of the biggest backers of Ukraine - plans to nearly triple its regular defence budget to around 162 billion euros ($175 billion) per year by 2029. Much of that money will go into reinventing the nature of warfare, the sources said. Helsing is part of a wave of German defence start-ups developing cutting-edge technology, from tank-like AI robots and unmanned mini-submarines to battle-ready spy cockroaches . "We want to help give Europe its spine back," said Scherf. Some of these smaller firms are now advising the government alongside established firms - so-called primes such as Rheinmetall and Hensoldt - that have less incentive to focus primarily on innovation, given their long backlogs for conventional systems, one of the sources said. A new draft procurement law, approved by Merz's cabinet on Wednesday, aims to reduce hurdles for cash-strapped start-ups to join tenders by enabling advance payment to these firms. The law would also entitle authorities to limit tenders to bidders inside the European Union . Marc Wietfeld, CEO and founder of autonomous robots maker ARX Robotics, said a recent meeting with German defence minister Boris Pistorius hammered home how deep the rethink in Berlin goes. "He told me: 'Money is no longer an excuse - it's there now'. That was a turning point," he said. GERMANY IN THE LEAD Since Donald Trump's return to the political stage and his renewed questioning of America's commitment to NATO, Germany has committed to meet the alliance's new target of 3.5% of GDP on defense spending by 2029 - faster than most European allies. Officials in Berlin have emphasized the need to foster a European defence industry rather than rely on U.S. companies. But the hurdles towards scaling up industry champions in Germany - and Europe more broadly - are considerable. Unlike in the United States, the market is fragmented in Europe. Each country has its own set of procurement standards to fulfill contracts. The United States, the world's top military spender, already has an established stable of defence giants, like Lockheed Martin and RTX, and an advantage in key areas, including satellite technology, fighter jets and precise-guided munitions. Washington also began boosting defence tech startups in 2015 - including Shield AI, drone maker Anduril and software company Palantir - by awarding them parts of military contracts. European startups until recently languished with little government support. But an analysis by Aviation Week in May showed Europe's 19 top defence spenders - including Turkey and Ukraine - were projected to spend 180.1 billion this year on military procurement compared, to 175.6 billion for the United States. Washington's overall military spending will remain higher. Hans Christoph Atzpodien, head of Germany's security and defence sector association BDSV, said one challenge was that the military's procurement system was geared toward established suppliers and not well suited to the fast pace that new technologies require. Germany's defence ministry said in a statement it was taking steps to accelerate procurement and to better integrate startups in order to make new technologies quickly available to the Bundeswehr. Annette Lehnigk-Emden, head of the armed forces' powerful procurement agency, highlighted drones and AI as emerging fields that Germany needs to develop. "The changes they're bringing to the battlefield are as revolutionary as the introduction of the machine gun, tank, or airplane," she told Reuters. SPY COCKROACHES Sven Weizenegger, who heads up the Cyber Innovation hub, the Bundeswehr's innovation accelerator, said the war in Ukraine was also changing social attitudes, removing a stigma towards working in the defence sector. "Germany has developed a whole new openness towards the issue of security since the invasion," he said. Weizenegger said he was receiving 20-30 Linkedin requests a day, compared to maybe 2-3 weekly back in 2020, with ideas for defence technology to develop. Some of the ideas under development feel akin to science fiction - like Swarm Biotactics' cyborg cockroaches that are equipped with specialised miniature backpacks that enable real-time data collection via cameras for example. Electrical stimuli should allow humans to control the insects' movements remotely. The aim is for them to provide surveillance information in hostile environments - for example information about enemy positions. "Our bio-robots - based on living insects - are equipped with neural stimulation, sensors, and secure communication modules," said CEO Stefan Wilhelm. "They can be steered individually or operate autonomously in swarms. In the first half of the 20th century, German scientists pioneered many military technologies that became global standards, from ballistic missiles to jet aircraft and guided weapons. But following its defeat in World War II, Germany was demilitarized and its scientific talent was dispersed. Wernher von Braun, who invented the first ballistic missile for the Nazis, was one of hundreds of German scientists and engineers transported to the United States in the wake of World War II, where he later worked at NASA and developed the rocket that took Apollo spacecraft to the Moon. In recent decades, defence innovation has been a powerful driver of economic progress. Tech like the internet, GPS, semiconductors and jet engines originated in military research programs before transforming civilian life. Hit by high energy prices, a slowdown in demand for its exports and competition from China, Germany's $4.75 trillion economy contracted over the last two years. Expanding military research could provide an economic fillip. "We just need to get to this mindset: a strong defense industrial base means a strong economy and innovation on steroids," said Markus Federle, managing partner at defence-focused investment firm Tholus Capital. ESCAPING 'THE VALLEY OF DEATH' Risk aversion among European investors had in the past disadvantaged startups, which struggled to get the capital they need to survive the 'valley of death' - the critical early stage when costs are high and sales low. But a boost in defence spending by European governments following Russia's invasion of Ukraine has investors looking for opportunities. Europe now boasts three start-ups with a unicorn valuation of more than $1 billion: Helsing, German drone maker Quantum Systems , and Portugal's Tekever, which also manufactures drones. "There's a lot of pressure now on Germany being the lead nation of the European defense," said Sven Kruck, Quantum's chief strategy officer. Germany has become Ukraine's second-biggest military backer after the United States. Orders that might once have taken years to approve now take months and European startups have had the opportunity to test their products quickly in the field, several sources said. Venture capital funding of European defence tech hit $1 billion in 2024, up from a modest $373 million in 2022, and is expected to surge even more this year. "Society has recognized that we have to defend our democracies," said Christian Saller, general partner at HV Capital, an investor in both ARX and Quantum Systems. Venture capital funding has grown faster in Germany than elsewhere, according to a data analysis by Dealroom for Reuters. German defence startups have received $1.4 billion in the last five years from investors, followed by UK, the data shows. Jack Wang, partner at venture capital firm Project A, said many German defence startups - rooted in the country's engineering prowess - are good at integrating established components into scalable systems. "Quality of talent in Europe is extremely high, but as a whole, there's no better country, no better talent that we've seen other than in Germany," he said. Weakness in Germany's automotive industry means there is production capacity to spare, including in the Mittelstand: the small and medium-sized enterprises (SMEs) that form the backbone of Germany's economy. Stefan Thumann, CEO of Bavarian startup Donaustahl, which produces loitering munitions, said he receives 3 to 5 applications daily from workers at automotive companies. "The startups just need the brains to do the engineering and prototyping," he said. "And the German Mittelstand will be their muscles."
