Friday, 24 November 2017


Online hiring activity sees 9% growth in October: Naukri Jobspeak
Online hiring activity registered a 9% jump in October, indicating signs of recovery in the job market as employers are cautiously optimistic about the recruitment activity, said a report. The Naukri JobSpeak index for October this year stood at 1,728, up 9% from 1,580 in the year-ago period. Key industries like banking/insurance recorded a growth of 28% in hiring in October, while in terms of cities, hiring picked up across all 13 cities tracked, the report noted. “There seems to be an air of cautious optimism in the job market. The Jobspeak index for October has witnessed a 9 per cent year-on-year growth,” chief sales officer Mr. V. Suresh said adding that though the non IT sector has led this growth, it is good to see a slow recovery in the IT sector. Among other industries, auto, construction/engineering and insurance saw a growth of 23%, 22% and 15%, respectively in October. Going forward, Mr. Suresh said the volatility in the job market is expected to continue for a few more months. In terms of experience bands, senior management roles with experience requirement of over 16 years saw a 14% growth in October as compared to the year-ago period. Jobs for entry level jobseekers having 0-3 years experience increased by 13% while hiring for roles with experience requirement of 13-16 years witnessed a 10% growth. Junior level roles for job seekers with 4-7 years of experience saw 8% growth in October.
Source : 17-11-17   Compiled by
Ms. Meg Whitman steps down at Hewlett Packard Enterprise
Ms. Meg Whitman, one of the most prominent women in Silicon Valley and a onetime candidate for California governor, announced she was stepping down as the Chief Executive of Hewlett Packard Enterprise. HPE president Mr. Antonio Neri will take over as head of the company at the start of February, with Ms. Whitman keeping a seat on the board at HPE, one of the firms created in the 2015 breakup of Hewlett Packard. "I'm incredibly proud of all we've accomplished since I joined HP in 2011," Ms. Whitman said in a release. "Now is the right time for Antonio and a new generation of leaders to take the reins of HPE." Ms. Whitman, 61, was the top executive at eBay from 1998 to 2008 and has been a key figure in the male-dominated tech industry. She is also one of the wealthiest women in tech, with an estimated net worth of USD 3.2 billion. Ms. Whitman was credited with leading a "turnaround strategy" as the computer company strived to adapt to trends in using mobile devices and cloud-based services for personal and work computing. She also engineered a split between of the HP enterprise unit, HPE, and the personal computer and printer business HP Inc. that became a household name but faced increasingly fierce competition. Ms. Whitman has dismantled some of the company in the face of trends that have people less reliant on home or work desktop computers. She ran unsuccessfully for as the Republican nominee for governor of California in 2010, losing to Mr. Jerry Brown.
Source : 22-11-17   Compiled by
Apple's first campus placement in India to start from IIT-Madras
Tech giant Apple is scouting for talent in Indian engineering colleges for the first time and Indian Institute of Technology-Madras (IIT-M) is where it will make one of its first pit stops in December. Also, Unique Identification Authority of India (UIDAI) and Nasdaq will be hiring from IIT-M campus for the first time. IIT students here are gearing up for the first phase of placements, which is expected to happen between December 1 and 10. Among the other institutions lined up for Apple placements are IIT-Bombay and International Institute of Information Management, Hyderabad. IIT-M is not quite sure of the student profile Apple is looking for, though coding could be a natural choice. As many as 270 companies had registered themselves with IIT-M, to recruit students for over 400 job profiles. According to a release by the college management, about 43 percent of the recruiters are from core engineering or research and development sector. A quarter of all recruiters are from finance, analytics, consulting sectors, and 32 percent from IT sector. The institute will host more than 50 start-ups this year. As many as 114 students have already received pre-placement offers (PPO), which come from internships. This is a 56 percent jump from last year, the release said.
Source : 24-11-17   Compiled by
FreshMenu appoints former Snapdeal executive as Biz and Tech Head
Bengaluru-based Foodvista India Pvt. Ltd, which operates online food delivery platform FreshMenu, has appointed former Snapdeal executive Mr. Pradeep Desai as chief business and technology officer. An IIT Madras and University of Texas alumnus, Mr. Desai has served at e-commerce firm Snapdeal as senior vice president for little over a year. In his earlier stints, he had worked as vice president at Nasdaq-listed deals and vouchers site Groupon. He was also a manager at US-based e-commerce behemoth Amazon in multiple verticals such as affiliate marketing, advertising products, transportation, fulfilment and supply chain. Founded in 2014 by IIM Ahmedabad alumna Daga, FreshMenu prepares meals and delivers from its own kitchen facilities. It has so far raised more than $22 million from investors including Zodius Technology Fund, Lightspeed Venture Partners and GrowthStory.
Source : 22-11-17   Compiled by
Boeing to hire 800 direct employees in India over next two years
American plane maker Boeing Co. is looking at hiring around 800 direct employees in India over the next two years, with a view to tap further into the country’s booming aerospace industry. Boeing plans to take new people on board for job functions ranging from core engineering to frontline factory workers, and also support functions such as human resources, top company executives said. The company currently has 1,200 direct employees and 7,000 of those who work on its projects at its partner firms in India. While Boeing’s India operations will likely have 1,500 direct employees by the end of this year, the company also expects its partner firms to increase the number of people working on its projects. “We have 144,000 employees worldwide approximately. The population here has grown very quickly and we have aspirations to add more beyond that (1,500 by year-end),” Ms. Heidi Capozzi, Boeing’s senior vice-president for human resources globally, said in an interview. India’s booming aerospace industry represents a major opportunity for international firms operating in the space. The country is set to become the third-largest aviation market by 2025, a year earlier than expected, according to a report by the International Air Transport Association (IATA) published in October.
Source : 21-11-17   Compiled by
Relief for Indian IT sector, US H1B visa wage hikes for techies will not get implemented soon
The proposal in the US Congress to increase the wages of the H-1B visa holders from the current level of $60,000 to $90,000 with a view to prevent the outsourcing of American jobs, has to pass several stages before it can become a law. The Protect and Grow American Jobs Act introduced by the Courts, Intellectual Property and the Internet Subcommittee chairman Mr. Darrell Issa is in the Congress. After the discussion, it has to be passed by the House, then the Senate, and finally, it has to get the nod from the President before it becomes law. The Indian IT industry is heavily dependent on H-1B visas to execute their projects in the US and the current Bill, introduced in the US Congress, has the potential to impact companies if it gets enacted as law. “The purpose of this Act is to close a loophole in the H-1B visa programme by requiring H-1B-dependent employers once again to pay sufficiently high wages to ensure the protection of the workforce in the US and to remove other impediments to proper H-1B visa enforcement,” it said. Justifying the need to increase the base level of wages of H-1B visas to $90,000, the Congress proposal states that “the $60,000 figure, when enacted in 1998, was higher than the wage paid to the average American worker in fields, such as computer science. Since the $60,000 level has never been adjusted for inflation, it is now little more than half of what the average American worker makes”. The Bill also prohibits H-1B dependent employers in the US from replacing American workers with H-1B employees while adding that the Bill also strengthens the Department of Labour’s enforcement arsenal to ensure that H-1B dependent employers abide by the rules. Nasscom president Mr. R Chandrashekhar said, “Unfortunately, this legislation is being driven by myths, not reality, and could harm US businesses, imposing an extraordinary amount of bureaucratic red tape, disrupting the marketplace, threaten US jobs and stifle US innovation by unfairly and arbitrarily targeting a handful of companies.”
Source : 21-11-17   Compiled by
Facebook aims to train 5 lakh people on digital skills by 2020
Social networking giant Facebook said it expects to train about five lakh people in India on digital skills by 2020 and has unveiled two programmes designed for individuals and start-ups. The two programmes — Facebook digital training and Facebook start up training hubs — are being rolled out in India before any other country. “India is poised to have a digital economy worth $1 trillion by 2022. We believe the best way to prepare India for this digital economy is by providing tools, knowledge, and skills people need to succeed,” Facebook head of programmes, India and South Asia Mr. Ritesh Mehta said. He added that these tools will help people learn digital skills as well as enable entrepreneurs and small and medium businesses (SMB) in digitising their business. Apart from these two, Facebook also runs offline training programmes as well as Blueprint (free online training for advertising on Facebook). “Through all these initiatives, we hope to train more than half a million people in India by 2020,” he said adding that more than 51,700 SMBs have been trained by Facebook in India, including 12,000 women entrepreneurs, through Boost and SheMeansBusiness. Facebook is working with organisations like Digital Vidya, EDII, DharmaLife and StartupIndia to develop the curriculum that is designed to work in low network strength regions as well.
Source : 22-11-17   Compiled by
Google announces scholarship program to train 1.3 lakh Indian developers in emerging technologies
Back in July this year, Google put forward its plan to train around 2 million developers in India with the aim to help spur innovation and support the growth of India's start-up ecosystem. In line with the same initiative, Google India announced a new scholarship program in partnership with Pluralsight and Udacity to train nearly 130 thousand developers and students and build a highly skilled tech workforce in India. Under the new scholarship program, Google plans to help developers improve their learning on the emerging technologies like Mobile and Web development, Machine Learning, AR/VR, Artificial Intelligence, and Cloud Platforms. Under this new scholarship program, Google is looking forward to provide around 100 thousand scholarships on the Pluralsight technology learning platform and about 30 thousand scholarships on Udacity. With this, the company is basically looking forward to help developers gain access to advanced learning curriculum. Commenting on Google's Skilling initiative in India, Mr. William Florance, Developer Products Group and Skilling Lead of Google India said, "Since we announced our skilling initiative in India, 210,000 students have completed Google developed courses on Udacity, with 117,000 students completing the course this year. To build on this momentum, this scholarship program will make it easy for students and developers to gain the skills they need to be successful in the changing technology landscape." He further added, "In the last one year, we have engaged over half a million students and developers across India through a variety of programs and initiatives."
Source : 23-11-17   Compiled by
Good news! EPFO subscribers pensions may rise 10 times, but there’s a big catch
The Supreme Court ruling over hike in pension may benefit crores of private sector employees, but only if EPFO agrees to it. In fact, the apex court in a case filed by a private sector employee had ruled in 2016 that pension of the filing parties under EPF should be revised as per the amendment done in 1996 by EPFO. “As per this amendment, EPFO members were allowed to raise pension contribution to 8.33% of full salary (basic + DA) irrespective of what the salary was. However, EPFO didn’t implement this even when the private sector employers approached it, and said that response from the concerned parties should have arrived within six months of the said amendment. Then 12 private sector employees approached the Supreme Court and the court directed EPFO to change their pension scheme as per the amendment,” says Jitendra P S Solanki, MCSI, CTEP, CFP and Financial Planner for Special Needs Dependent Families. Thankfully, the court ruling has already resulted in a windfall for some of the pensioners as their pension has increased by more than 10 times. The question, however, is: What will be the impact of the SC ruling and will it benefit all the private sector employees? However, let us first take a look at EPS, EPF and what salaried people are entitled to.
Source : 24-11-17   Compiled by
Renewable energy sector may generate over 330,000 jobs in five years: Report
India’s renewable energy sector is expected to generate more than 330,000 new jobs over the next five years (2017-2022), a report said, adding that it would also improve energy security, enhance energy access and help mitigate climate change. The report stressed that India’s clean energy initiatives can also help address poverty in rural communities by providing steady incomes, healthcare benefits and skill-building opportunities to unskilled and semi-skilled workers. It said that apart from creating new jobs in the sector, India’s clean energy push can improve energy access in India’s poorest rural communities, thereby allowing more time for children to study after school, greater productivity and income for families, and improved health outcomes. The report— Can renewable energy jobs help reduce poverty in India?—was released by the World Resources Institute (WRI), an international research organization. It emphasized that these opportunities can support India’s rural poor by offering an alternative to subsistence farming. Prior to the Paris Climate Agreement, the central government announced that India will install 175 gigawatt (GW) of renewable power by 2022 of which 100GW will be from solar power and 60GW from wind power.
Source : 23-11-17   Compiled by
Uber rival Grab appoints Paytm executive as CTO of payments arm
Southeast Asian cab-hailing major Grab has appointed Mr. Vikas Agrawal as the chief technology officer of its mobile payments wing, GrabPay, the company said in a statement. Mr. Agrawal is moving from Indian e-wallet firm Paytm, where he led the engineering division. He will be based in Bangalore. Prior to Paytm, Mr. Agrawal— an IIM-Bangalore alumnus—was the founding member and CTO at Fashionara, an e-commerce startup. He also previously served as vice president of engineering at software solutions firm Tavant Technologies and as a technical architect at e-payments firm CyberCash. “Vikas (Agrawal) has steered some of the world’s largest e-payments platforms through rapid growth, including during the critical time of 2016’s demonetisation of higher value banknotes in India. We believe Southeast Asia has the same potential for e-payments in the next 12 months,” said Mr. Theo Vassilakis, group CTO at Grab. Grab claims to have had more than 3.5 million transactions daily and claims to be on track for 1 billion transactions per year. A year ago, Grab launched GrabPay Credits, its top-up service, and later released GrabRewards, a loyalty programme, for which it signed up more than 300 merchants. In Singapore, the platform recently launched its peer-to-peer payments services as well as in-store and in-restaurant payments services.
Source : 23-11-17   Compiled by
SC, HC judges to get salary hike, will get arrears from Jan 2016
The judges of the Supreme Court and the 24 high courts are set to get a salary hike as the Union cabinet approved a proposal in this regard. Law minister Mr. Ravi Shankar Prasad said that a bill would be introduced in Parliament to effect the pay hike. Salaries of the lower judiciary are decided by the respective states, but those of SC and HC judges need Parliament nod. The pay revision that will benefit 31 Supreme Court, 1079 high court and 2500 retired judges will be effective retrospectively from January 1, 2016. Apart from getting Rs 1.5 lakh a month after deductions plus allowances, a Supreme Court judge is also entitled to a rent-free accommodation while in service. The then Chief Justice of India T S Thakur had written to the government in 2016 seeking a hike in salaries of judges. Their salaries were last hiked in 2009, with retrospective effect from 2006.
Source : 22-11-17   Compiled by
Walmart to expand wholesale stores; to add one lakh jobs in three years in India
While Walmart is still restricted by laws that bar multi-brand retail in India, the company is set to aggressively expand its cash-and-carry (wholesale) stores across key locations. The global retail major plans to open seven stores next year, add another 10 in the subsequent year and take the number to 71 by 2021, Mr. Rajneesh Kumar, senior vice-president and head-corporate affairs, Walmart India said. This, according to Mr. Kumar, would over 1 lakh jobs in a couple of years. Typically, each retail store adds around 2,000-2,500 direct and indirect jobs. “This year, India was made a priority market for Walmart besides China. That said, we are getting more resources to build capacity, more talent and so on. While there are plenty of job seekers, acquiring the right talent remains a challenge,” Mr. Kumar said. He said the company is focused on skilling the job seekers and transforming them to be job creators. Also on the agenda are developing local medium-sized enterprises suppliers, diversifying the supply chain and enhancing women’s economic empowerment. Walmart sees substantial opportunities in tier-2 and tier-3 cities. After Mumbai, the company is on track to opening another fulfilment centre in Lucknow. “The distribution reach in tier-2 and tier-3 cities are not as good as metros. Our ability to serve the under-served market is huge and that is where we add most value to our suppliers. We are working with our suppliers to co-create the distribution system in the country,” he said. The company will continue to focus on three clusters — one in the North, covering Punjab, Haryana, UP and Uttarakhand, the second is in Andhra Pradesh and Telangana and the third is Maharashtra.
Source : 18-11-17   Compiled by
Mr. Anand Rajeshwar Baiwar takes charge as Sebi Executive Director
Markets regulator Sebi said Mr. Anand Rajeshwar Baiwar has taken charge as an executive director. An Indian Revenue Service (IRS) officer of the 1990 batch, Mr. Baiwar assumed office on November 16. "He (Baiwar) will look after the investigation department and division of foreign portfolio investors and custodians," Sebi said in a release. Prior to this assignment, he was working as an income tax commissioner in Kolkata. A graduate in engineering as well as law, Mr. Baiwar holds Post Graduate Diploma in Management from IIM, Bangalore and is also a chartered financial analyst from ICFAI, Hyderabad. In October, Mr. Sujit Prasad took charge as an executive director. The Securities and Exchange Board of India (Sebi) had also promoted two senior employees – Mr. Amarjeet Singh and Mr. Nagendraa Parakh -- as executive directors in July.
Source : 17-11-17   Compiled by
7th Pay Commission: Confusion prevails over hike in minimum pay, fitment factor demand
As many as 48 lakh Central government employees are still in confusion whether the government has actually considered their minimum pay and fitment factor demand beyond the recommendation of 7th Pay Commission or not. Earlier reports have been continuously mentioning that minimum pay and fitment factor beyond 7th Pay Commission recommendation is under serious consideration, and the 22-member National Anomaly Committee (NAC) will present the issue before Union Cabinet on December 15, 2017, and once approved, the changes will be implemented from April 2018. Assurances were provided by a group of ministers including Home Minister Rajnath Singh, Finance Minister Arun Jaitley on June 30, 2016, that the high level committee will be increasing minimum pay and fitment formula. Besides, there were reports saying the NDA government has already given a green signal to pay scale hike last month. Jaitley in Rajya Sabha on July 19, 2016 said, "The assurance given to the NJCA leaders by the Group of Ministers (including Finance Minister) on 30-06-2016 is that enhancement in minimum pay and fitment factor (multiplication factor) will be considered favourably by the government, once the proposal in this regard is submitted to government by the proposed “High Level Committee” within four months. Hence, the matter will come for the “consideration” of the government only after submission of the report by the High Level Committee." Further, reports said that the NAC will recommend minimum pay hike to Rs 21,000 from existing recommendation of Rs 18,000 and fitment factor to 3.00 times from existing 2.57 times. But the inputs coming in now hint that the government may not accept this demand.
Source : 21-11-17   Compiled by

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