Industry Odisha Bureau, May 5: US-based Moody’s Ratings today (May 4) reportedly rated India one among the large economies that has efficiently withstood the onslaught of recurrent global shocks, but has not lost ability of market-access in the last five years. Stating that: “Relatively accommodative external market conditions in the wake of recent shocks helped emerging markets absorb successive external shocks since 2020”, the latest report by Moody’s Ratings added, “Countries like India (Baa3 stable) show the most resilience across a range of market indicators”. Notably, “Moody’s rating ‘Baa3 Stable’ signifies the lowest tier of investment-grade credit, indicating moderate credit…
Author: Industry Odisha
Industry Odisha Bureau, May 5: Even though Elon Musk, the Canadian-American business magnate and present owner of world-renowned social media platform X (formerly Twitter), reportedly did not admit to the allegations of US Federal Agency Securities and Exchange Commission (SEC), his attorney’s letter reportedly submitted with the SEC yesterday (May 4) stated that Musk has agreed to pay the $1.5 million penalty slapped on him. As per media reports, a “revocable trust” of Elon Musk would pay the penalty amount in a bid to put an end to the SEC’s lawsuit. Notably, Elon Musk formally acquired Twitter in 2022 and…
Industry Odisha Bureau, May 5: Soon after American professional basketball team ‘Orlando Magic’ got eliminated from the NBA playoffs on Sunday (May3), its coach Jamahl Mosley was reportedly dismissed with immediate effect. Magic’s team president Jeff Weltman announced the dismissal of head coach Mosley the moment they were back in Florida in the wake of the team’s loss at the NBA playoffs in Detriot. Reportedly lauding Mosley’s “leadership and positive contributions as head coach” as well as expressing gratitude to him, Weltman also said sadly, “While this was a difficult decision, we feel it’s time for a new voice and…
Industry Odisha Bureau, May 4: Deputy Chief Minister Pravati Parida on Monday disbursed financial assistance of over Rs 61 crore to more than 79,000 beneficiaries, who had earlier missed receiving the first, second, or third instalments of ‘Subhadra’ scheme due to various issues. Parida released the financial assistance to the beneficiaries through virtual mode from the conference hall of the Women and Child Development Department in Bhubaneswar. The 79,000 women left out from the scheme due issues such as inactive NPCI linkage, e-KYC biometric errors, and pending grievance resolutions. The funds were transferred directly to their bank accounts through the…
Industry Odisha Bureau, May 4: All are agog to watch if both Venu Srinivasan and Vijay Singh could continue to be the incumbent vice-chairmen at the Tata Education and Development Trust (TEDT) or not. Voting of which is likely to be held this week. While Venu Srinivasan is reportedly TVS chairman emeritus, Vijay Singh is reportedly a retired defence secretary. TEDT is said to be the “wealthiest affiliate” of India’s coveted Tata Trusts with a reportedly whopping “corpus of around Rs 6,000 crore”, and also “owns the majority of Tata Sons”. Observers keeping a hawk-eye on the significant development opine…
Industry Odisha Bureau, May 4: Following the reported deaths of at least three passengers on a cruise ship ‘MV Hondius’, the World Health Organisation (WHO) has reportedly initiated an intensive probe into the severe health risk matter as well as providing necessary medical aid to the remaining voyagers. Issuing a press release yesterday, the Netherland-based ‘Oceanwide Expeditions’ informed that it was confronting a severe medical situation on the Hantavirus outbreak. The press release further informed that the severe health risk issue occurred on the polar expedition ship MV Hondius reportedly off the Cape Verde which is an island nation in…
Industry Odisha Bureau, May 3: The Government of Odisha has intensified its push towards universal 24×7 urban drinking water supply, with allocation of Rs 1500 crore to execute SUJALA scheme during the financial year 2026-27. A comprehensive review of the annual action plan of the Public Health Engineering Organisation (PHEO) for 2026–27, 2027–28, and 2028–29 was chaired by Additional Chief Secretary, Housing & Urban Development Department, Usha Padhee here at Kharabela Bhawan yesterday. As per official projections, the population across 86 Urban Local Bodies (ULBs) is expected to reach approximately 31.5 lakh by 2026. At present, these urban areas receive…
Industry Odisha Bureau, May 3: On the one hand, India is reportedly experiencing a massive data centre boom and transforming into a global digital hub, the requisite ‘absorption chillers’ installed there require more consumption of water. On the other hand, not only ‘Super El Nino’ risks looming large over India this year (that is already being bitterly experienced in shape of intense heatwave sweeping across the country), but also IMD’s forecast of below-normal monsoon means acute water scarcity lurking in the face. Owing to a potentially strong ‘Super El Nino’ (warm Pacific Ocean) risks in India, the higher temperatures would…
Industry Odisha Bureau, May 3: While “Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025” was passed in December 2025 as a major reforms in India’s insurance sector, with the seal of approval accorded by the President of India, the Ministry of Finance yesterday (May 3) formally announced cent (100) per cent foreign direct investment (FDI) into the country’s insurance sector with a 20 per cent cap for Life Insurance Corporation of India (LIC). Thus, “full foreign ownership” will now reportedly be “allowed in the insurance firms and intermediaries and brokers via automatic route”, while the earlier limit was…
Industry Odisha Bureau, May 2: While ‘May 1’ is globally celebrated as “International Workers’ Day or May Day, honouring the labour movement and workers’ rights, particularly the 8-hour workday, arising from the 1886 Chicago Haymarket affair”, it is also a memorable day for the two Indian states of Maharashtra and Gujarat as their respective statehood day significantly. The two separate states were formed on this remarkable day in 1960 following the bifurcation of erstwhile Bombay State along linguistic lines since the then Bombay State was a multilingual territory during the British Raj. As per India’s Post-Independent Era’s history, the Bombay…