Industry Odisha Bureau, Aug 23: While the consultations with the central government employees, pensioners and other stakeholders from across the country are underway by the ‘8th Central Pay Commission (CPC)’ constituted in November 2025, financial experts are reportedly expecting that a relatively high multiplier ‘2.0 fitment factor’ could double the basic pay of the central government employees, but might not double their gross salary. Citing opinions and contentions of the financial experts, media reports have stated that, “Even though the ‘8th CPC’ has not yet formally announced a fitment factor, a relatively high multiplier ‘2.0 fitment factor’ is being said…
Author: Industry Odisha
Industry Odisha Bureau, Aug 23: Since the introduction of the scheme named Foreign Currency Non-Resident (Bank), in short FCNR(B), by the a (RBI) a few months ago this year in a bid to encourage foreign currency inflows to mitigate the mounting pressure on Indian currency -‘Rupee (INR)’, the RBI data has revealed that the country has reportedly mobilised forex inflows to a tune of $72.85 billion, while the FCNR(B) deposits have reportedly been $65.397 billion as of August 21. Media reports stated that, “Such am overwhelming development has taken place when the RBI’s amibitious FCNR(B) scheme’s deadline has officially been…
Industry Odisha Bureau, Aug 22: Cristiano Ronaldo scored for Al Nassr in their commanding 4-0 Saudi Pro League victory over Al Riyadh on Friday evening. The goal extended his extraordinary scoring sequence to 25 consecutive league seasons, becoming the first footballer ever to achieve this remarkable longevity benchmark. Ronaldo now stands at 977 official career goals, positioning himself 23 goals short of the historic 1,000-goal milestone as he enters what could be his final professional campaign. The 41-year-old forward began Al Nassr’s second match of the 2026-27 Saudi Pro League season on the substitutes’ bench. He entered the contest in…
Industry Odisha Bureau, Aug 22: Major League Soccer has fined Lionel Messi after an altercation with Philadelphia Union midfielder Quinn Sullivan during Inter Miami’s 2-2 draw. The Argentina captain made contact with Sullivan’s head and neck area during stoppage-time confrontation on Wednesday evening. MLS conducted a video review of the incident after the final whistle and determined a violation of conduct regulations had occurred. Messi escaped suspension despite the contact, receiving only a financial penalty instead. The confrontation between Messi and Sullivan unfolded deep into stoppage time near midfield. Messi exchanged words with the Philadelphia midfielder before appearing to slap…
Industry Odisha Bureau, Aug 22: Retail sugar prices in India have accelerated sharply, reaching ₹55.7 per kilogram by mid-August. The increase reflects mounting expectations of tighter domestic supplies driven largely by weak rainfall patterns. Crop damage across major sugarcane-growing states is compounding the supply pressure substantially. These developments signal that India’s sugar market is becoming increasingly sensitive to production shocks. The progression of retail prices reveals a marked acceleration in recent weeks. Prices stood at ₹46.3 per kilogram one year ago, rising to ₹48.2 per kilogram one month earlier. By mid-August, they had climbed to ₹55.7 per kilogram, representing approximately…
Industry Odisha Bureau, Aug 22: International flyers departing from India airports will not require physical boarding pass stamping from September 1. The Bureau of Immigration has determined that e-boarding passes are acceptable at immigration counters. However, physical boarding passes will continue to be accepted without receiving immigration stamps necessarily. The change is intended to simplify the immigration clearance process for international passengers overall. The decision reflects concerns about the earlier physical boarding-pass procedure at immigration counters. The process required international flyers to present physical documents for stamping by immigration officers. Reports indicated that improper or incorrect stamping of physical boarding…
Bhubaneswar,August 22: India has reported 29 foreign direct investment proposals worth ₹4,895.65 crore under its revised framework. The government amended Press Note 3 of 2020 during March 2026 to clarify procedures specifically. Under the revised policy, companies with up to 10 per cent ownership by entities based in land-border countries can now access the automatic route. This change eliminates the requirement for prior government approval in qualifying cases substantially. The Commerce Ministry announced the figures on Friday regarding FDI reported through 20 August 2026. The framework does not specifically name China, though it remains India’s largest land-border neighbour. These proposals…
Industry Odisha Bureau, Aug 22: India’s companies are aggressively expanding festive-season hiring into smaller cities for gig workers. Retail, e-commerce, logistics and quick-commerce firms increasingly depend on tier-2, tier-3 and tier-4 markets. However, gig workers beyond major metropolitan areas still face significant earnings disadvantages consistently. The payment gap between metro and non-metro gig workers persists despite narrowing somewhat substantially. Estimates suggest smaller-city workers earn approximately 25–30% less than their metro counterparts today. Yet recruitment data shows gig job postings in smaller cities are rising sharply. This expansion reflects both growing consumer demand and increasingly severe labour shortages outside metros. The…
Industry Odisha Bureau, Aug 22: India’s economy displayed distinctly mixed signals this week across multiple economic sectors. Export momentum remained strong while the RBI expressed persistent inflation concerns. However, monsoon forecasters have sharply downgraded rainfall expectations, raising drought risks considerably. This combination of divergent economic developments complicates the near-term macroeconomic outlook significantly. The Reserve Bank of India kept its policy repo rate unchanged at 5.25% during August’s monetary policy meeting. The central bank maintained a neutral policy stance even as its internal minutes struck a notably hawkish tone. RBI policymakers remained focused on inflation risks despite limited evidence of broad-based…
Industry Odisha Bureau, Aug 22: Apple is cutting more than 200 positions across its Siri and Vision Pro divisions today. The restructuring reflects the company’s strategic pivot toward artificial intelligence and emerging consumer devices. Roughly 100 positions will be eliminated from the Vision Pro organisation specifically. Another 100 positions are affected across Siri and Apple’s broader software engineering teams. Apple’s statement emphasised that it will also create new roles simultaneously during this transition. The company said the changes were necessary to evolve its business strategically. Apple’s Siri overhaul represents the core driver of this workforce reallocation, not conventional layoffs. The…