Latest news with #CSS
Indian Express
a day ago
- Business
- Indian Express
NITI Aayog conducting evaluation study of MGNREGS, minister tells LS
THE NITI Aayog, the government's premier think tank, is conducting an evaluation study of the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS), the government informed the Lok Sabha on Tuesday. In a written reply to a question, Union Minister of State of Rural Development Kamlesh Paswan informed the House that the Development, Monitoring and Evaluation Office (DMEO), NITI Aayog, has recently taken up the evaluation study of the scheme. The development is significant as it comes at a time when the Ministry of Rural Development has circulated a proposal seeking approval of the Expenditure Finance Committee (EFC) for continuation of MGNREGS and an outlay for Rs 5.23 lakh crore till financial year 2029-30, a period that coincides with the next Finance Commission (16th) cycle. The EFC is a central body that appraises government schemes and projects; it comes under the Ministry of Finance. Replying to a question by CPI(ML)L member Sudama Prasad, Paswan said, 'The Internal Audit Wing (IAW) under the Office of the Chief Controller of Accounts (CCA) has been conducting Risk-Based Internal Audits of MGNREGS implementation in states since FY 2013-14… Risk-Based Internal Audits of MGNREGS have been conducted in 225 districts of 30 states/UTs since 2013-14.' 'Further, Amarjeet Sinha Committee was constituted in 2021 to examine various factors affecting demand for wage employment in the rural sector in different parts of the country and to study/analyse the trends of expenditure across states under MGNREGS along with reasons for inter-state variations with specific focus on governance issues. The report of the Committee has since been received and some of the recommendations have been identified for appropriate action,' Paswan said, sharing details of the internal audits and review of the MGNREGS conducted in recent years. 'In addition to this, DMEO, NITI Aayog, too has recently taken up an evaluation study of MGNREGS,' he said. The NITI Aayog conducted the last evaluation study of the MGNREGS in 2019-20. At the time, the think tank had also conducted the evaluation study of five other schemes. 'The study focused on the effectiveness, efficiency, impact, and sustainability of these schemes, including the MGNREGS, to gauge their overall contribution to the national rural economy,' Paswan said. The evaluation study by NITI Aayog is crucial for getting approval of the EFC, said a source. The Ministry of Finance has told all ministries and departments that no Centrally Sponsored Scheme (CSS) or Central Sector Scheme (CS) will be considered for continuation beyond March 31, 2026, unless a third-party evaluation of the scheme is carried out. Sources say that the EFC approval and appraisal is part of the Centre's exercise to evaluate and approve its schemes for the next Finance Commission cycle. The MGNREGS is backed by law and therefore the EFC approval is just a formality. Harikishan Sharma, Senior Assistant Editor at The Indian Express' National Bureau, specializes in reporting on governance, policy, and data. He covers the Prime Minister's Office and pivotal central ministries, such as the Ministry of Agriculture & Farmers' Welfare, Ministry of Cooperation, Ministry of Consumer Affairs, Food and Public Distribution, Ministry of Rural Development, and Ministry of Jal Shakti. His work primarily revolves around reporting and policy analysis. In addition to this, he authors a weekly column titled "STATE-ISTICALLY SPEAKING," which is prominently featured on The Indian Express website. In this column, he immerses readers in narratives deeply rooted in socio-economic, political, and electoral data, providing insightful perspectives on these critical aspects of governance and society. ... Read More
Express Tribune
4 days ago
- Politics
- Express Tribune
CSS 2026 exam schedule announced
Listen to article The Federal Public Service Commission (FPSC) has released the schedule for the Central Superior Services (CSS) examinations 2026 through an advance public notice. According to the commission, the public notice for online applications for the MCQ-based preliminary test (MPT) will be issued on August 10, 2025, while applications for the MPT will be accepted from August 11 to August 25, 2025. Applicants who qualify for the MPT will be eligible to submit applications for the written CSS examination, which will be accepted from December 15 to December 30, 2025. The written CSS exam is scheduled to begin on February 4, 2026, according to the FPSC. The CSS exam serves as a key gateway to Pakistan's elite federal services, including positions in administration, foreign affairs, customs, and other civil sectors. It has traditionally attracted fresh university graduates and young professionals, with strict eligibility criteria in terms of age and number of attempts. By raising the age cap and allowing an additional attempt, the new measures aim to broaden access and provide greater flexibility for aspirants who may need more time to prepare or who enter the workforce later. Read: NA approves extension of CSS age limit, exam attempts from 2026 Earlier, National Assembly passed a resolution to increase the maximum age limit for candidates appearing in the Central Superior Services (CSS) examination from 30 to 35 years, with the new policy set to take effect from 2026, the Associated Press of Pakistan reported
Time of India
7 days ago
- Business
- Time of India
Arm shares drop as outlook disappoints; company looks to invest to make own chips
By Max A. Cherney and Arsheeya Bajwa Arm Holdings shares tumbled 8% in extended trading on Wednesday, after the chip tech provider issued quarterly forecasts that disappointed investors, in part because of its plans to invest a portion of its profit into building its own chips and other components. The company forecast fiscal second-quarter profit slightly below estimates as global trade tensions threaten to hit demand for Arm in its mainstay smartphone market, failing to satisfy investors who have sent the stock surging in recent months. The plan to invest more heavily in developing its own chips marks a departure from Arm's long-time business of supplying intellectual property to companies ranging from Nvidia to which already design their own chips. Finished chips are the "physical embodiment" of a product Arm already sells called Compute Sub Systems (CSS), Arm CEO Rene Haas said. "We are consciously deciding to invest more heavily - (in) the possibility of going beyond (designs) and building something, building chiplets or even possible solutions," Haas said in an interview with Reuters. Chiplets are smaller, function-specific versions of a larger chip that designers can use as building blocks to form a complete processor. Solutions integrate hardware and software. The decision to increase its investments in potential chips, chiplets and solutions may not result in a product if Arm decides to halt development or pause various projects, the company said. If the company opts to make a full chip, it will eat into the company's profit and is no guarantee of success. Advanced AI chips cost upwards of $500 million for the silicon alone and potentially more for the server hardware and software necessary to support it. To build up the necessary staff to make chiplets and other finished chips, Arm has been recruiting from its customers and competing against them for deals. Haas declined to provide a timeframe in which the company's investments in the new strategy would translate into profit, or give specifics about potential new products that are part of the initiative. But he said that Arm would look at chiplets, "a physical chip, a board, a system, all of the above." For years, the SoftBank Group-owned Arm has embarked on an ambitious campaign to expand its revenue and boost its profit through a combination of new, higher-margin products such as the CSS tech and boosting the royalties it collects on each chip. Details of discussions among Arm executives about making its own chips emerged during a trial in December. The decision to build its own chip could bring Arm into direct competition with its customers such as Nvidia, who rely on the company's intellectual property. INVESTORS DISAPPOINTED Arm's chip technology powers nearly every smartphone in the world, and its tame forecast underscores uncertainty faced by global manufacturers and their suppliers resulting from U.S. President Donald Trump's tariff policies. UK-based Arm forecast adjusted per-share profit between 29 cents and 37 cents for the fiscal second quarter, the midpoint of which is below analysts' average estimate of 36 cents per share, according to LSEG data. "Results and outlook were light and below expectations," said Summit Insights analyst Kinngai Chan. Arm has surged around 150% since its stock market debut in 2023, and its shares recently traded at over 80 times expected earnings, far higher than the PE valuations of Nvidia, Advanced Micro and other chipmakers focused on AI. Smartphones remain Arm's biggest stronghold. Morningstar analysts expect Arm to continue as the dominant architecture provider in smartphone processors, where it has a 99% market share. Global trade tensions, however, cloud the outlook for the market. Uncertainty fueled by tariff volatility and ongoing macroeconomic challenges has tapered end-market demand, with global smartphone shipments increasing just 1% in the April-to-June period, according to International Data Corporation. Arm expects current-quarter revenue between $1.01 billion and $1.11 billion, in line with estimates of $1.06 billion. The company reported first-quarter sales of $1.05 billion, coming in just shy of estimates of $1.06 billion. Adjusted profit of 35 cents per share was in line with estimates. "Smartphone royalties (call it "Android on a low-carb diet") remain soft, especially in China, but cloud-server and AI accelerator design wins keep the (next generation Arm tech) royalty treadmill humming," Running Point Capital chief investment officer Michael Schulman said.
Herald Sun
7 days ago
- Business
- Herald Sun
Tech firm Atlassian axes 150 staff over video, says they won't be replaced by AI
Aussie tech firm Atlassian has come under fire for axing 150 staff while shelling out tens of millions of dollars on its F1 title sponsorship. Billionaire CEO and founder Mike Cannon-Brookes appeared in a pre-recorded video to staff, announcing 150 of them – including 44 in Australia – would be losing their jobs. Cannon-Brookes appeared dressed in a hoodie and speaking from his home office in the video - which was titled 'Restructuring the CSS Team: A Difficult Decision for Our Future' - in an address some staff felt was 'frank and cold'. Reports from staff claimed termination emails arrived for the unlucky staff 15 minutes later, as their laptops were blocked from company systems. The cuts are understood to be to customer service roles, with Atlassian claiming improvements to its systems meant there would be fewer complaints to deal with. A statement from the Sydney-based tech firm said the 'roles are not being replaced by AI'. 'We made this decision after implementing improvements to the customer experience across our platform and tools, resulting in a significant reduction in support needs,' the statement said. 'While we're proud of this momentum, it leaves us with more capacity than needed to deliver strong customer support. 'These improvements include reducing the time spent on support tickets with more efficient ways to route work to the right experts who can resolve issues more quickly, better identification and resolution of error codes and more.' Atlassian said sacked staff would receive 'a generous severance package, healthcare benefits for them and their families, six months access to our EAP and mental health services, visa support if needed, internal mobility and outplacement services'. The video came hours after co-founder Scott Farquhar was praising the benefits of AI during a National Press Club of Australia address. 'The scale of the opportunity and risks of missing out demand a new kind of partnership – one that moves at the speed of technology, not at the speed of bureaucracy,' he said. When asked about the job cuts, Mr Farquhar said there 'will be jobs changes' as a result of AI but 'if, as a nation we want to stick and have the jobs of the past, that is not a good plan for us'. 'In these times, or any time, we should be helping our employees to make the transition at a company level but also at a national level,' he said. 'Particularly in Australia, I feel very privileged and blessed that we live in a nation that has a very strong social safety net and very strong skill training and opportunities for our people to re-skill into new areas.' The news of the axings was met online with contempt from tech workers, who lambasted the move as 'out of touch', with others criticising Mr Cannon-Brookes for buying a private jet. 'Using AI for business support is kinda stupid, one lost customer could cost way more,' said one disgruntled user. 'The billions they make personally means they could just absorb those 150 heads easily without them even putting a bump on their bottom line,' said another. 'If you have the cash to sponsor an F1 team and then sack people you're an asshole.' The company has not revealed what it paid for its 10-year stake in UK-based Atlassian Williams Racing, but marketing experts say a title sponsorship generally costs upwards of $90m a year. The deal means Atlassian's logo has been splashed on the FW47 race cars being driven by Alex Albon and Carlos Sainz, meaning it will be seen by a television audience of more than 1.55 billion viewers, plus billions more online. Atlassian has been contacted for comment. Shares in Atlassian, which is listed on the US-based Nasdaq, dipped 1.44 per cent after news of the job cuts broke, trading at $197.19 on Thursday, down from $200.05 on the previous day's market close. Despite the cuts, the company was still advertising 345 open positions globally on Thursday morning. It employs more than 13,000 people worldwide. Atlassian is scheduled to release its full-year results next Thursday. The company is currently building a new Australian headquarters near Sydney's Central Station, which it will house the bulk of its local staff. Other staff work remotely across Australia. Originally published as Atlassian savaged for 'frank and cold' video sacking as company spends millions on F1 sponsorship
Economic Times
7 days ago
- Business
- Economic Times
Arm considers developing own chips; stock falls as outlook disappoints
Getty Images Chip architecture provider Arm Holdings' CEO Rene Haas Chip architecture provider Arm Holdings is investing in developing its own chips, CEO Rene Haas said on Wednesday, marking a major shift to its model of licensing its blueprints to other companies. Arm also issued quarterly forecasts that failed to satisfy investors who have sent the company's stock surging in recent months on expectations it will become a key player in artificial intelligence. Arm shares slumped around 8% in extended trading on Wednesday. The plan to invest more heavily in developing its own chips marks a departure from Arm's long-time business of supplying intellectual property to companies ranging from Nvidia to which already design their own chips. Finished chips are the "physical embodiment" of a product Arm already sells called Compute Sub Systems (CSS), Haas said. "We are consciously deciding to invest more heavily - is the possibility of going beyond (designs) and building something, building chiplets or even possible solutions," Haas said in an interview with Reuters. Chiplets are smaller, modular versions of a larger chip. Chiplets perform specific functions, and designers will stitch several together to form a complete processor. To build up the necessary staff to make chiplets and other finished chips, Arm has been recruiting from its customers and competing against them for deals, Reuters has reported. Haas declined to provide a timeframe in which the company's investments in the new strategy would translate into profit, or give specifics about potential new products that are part of the initiative. But, Haas said that Arm would look at chiplets, "a physical chip, a board, a system, all of the above." In recent months, chip companies have begun to focus more effort on building the necessary server hardware, or server rack, around a chip. Nvidia sells its NV72 rack systems, and Advanced Micro Devices acquired server builder ZT Systems to build system-level products. This expansion of its business could put Arm in competition with some of its customers, who design finished chips and chiplets for their own products. Arm has surged around 150% since its stock market debut in 2023, and its shares recently traded at over 80 times expected earnings, far higher than the PE valuations of Nvidia, Advanced Micro and other chipmakers focused on AI. Disappointing forecast The company forecast second-quarter profit slightly below estimates on Wednesday, as global trade tensions threaten to hit demand for Arm in its mainstay smartphone market. Arm's chip technology powers nearly every smartphone in the world, and its tame forecast underscores uncertainty faced by global manufacturers and their suppliers resulting from U.S. President Donald Trump's tariff policies. UK-based Arm forecast adjusted per-share profit between 29 cents and 37 cents for the fiscal second quarter, the midpoint of which is below analysts' average estimate of 36 cents per share, according to LSEG data. The forecast disappointed investors, according to Summit Insights analyst Kinngai Chan. "Results and outlook were light and below expectations," he said. The company generates revenue through licensing deals for its intellectual property and a royalty charged for each chip sold that uses its technology. Smartphones remain Arm's biggest stronghold. Morningstar analysts expect Arm to continue as the dominant architecture provider in smartphone processors, where it has a 99% market share. Global trade tensions, however, cloud the outlook for the market. Uncertainty fuelled by tariff volatility and ongoing macroeconomic challenges has tapered end-market demand, with global smartphone shipments increasing just 1% in the April-to-June period, according to International Data Corporation. Arm expects current-quarter revenue between $1.01 billion and $1.11 billion, in line with estimates of $1.06 billion. The company reported first-quarter sales of $1.05 billion, coming in just shy of estimates of $1.06 billion. Adjusted profit of 35 cents per share was in line with estimates. "Smartphone royalties (call it "Android on a low-carb diet") remain soft, especially in China, but cloud-server and AI accelerator design wins keep the (next generation Arm tech) royalty treadmill humming," Running Point Capital chief investment officer Michael Schulman said. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Zomato delivered, but did the other listed unicorns? As rates slide, who will grab the savings pie? 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