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For Indian IT, Japan May Be The New US

200,000

What is it? The number of Indian IT (Information Technology) professionals Japan is looking to recruit.

Why is it important? This comes at a time when the Indian IT industry is facing headwinds in the US, which recently made it tougher for professionals to get the coveted H-1B visas, given its President Donald Trump’s poll promises of hiring Americans. At home, the job prospects in this industry are not bright either, given that in 2017-18, net employee addition has been about 100,000 against the earlier projection of 150,000.

Tell me more: Japan is looking for highly-skilled professionals, especially in life sciences, finance, services and agriculture. It will issue green cards to recruits to help them receive permanent resident status within a year.

 

$4.8 billion

What is it?  The net worth of Travis Kalanick, former CEO of ride-hailing company Uber, according to Forbes.

Why is it important? Kalanick, who was forced to resign as CEO of Uber last year, on Thursday said he was launching his venture investment fund by the name of 10100 (pronounced ten one hundred) to oversee both his for-profit investments and his non-profit work. In the investments space, its big theme is “large-scale job creation”, with investments in real estate, e-commerce and emerging innovation in India and China. On the non-profit side, its initial focus will be on education and future of cities.

 Tell me more: Kalanick was reportedly looking to sell $1.4 billion worth of his Uber shares to SoftBank. He still holds a seat on the Uber board.

 

Rs 85,300 crore

What is it? The amount for which the Indian government on Thursday sought the Parliament’s approval for net additional spending in 2017-18.

Why is it important? The net additional spending request comes as the ruling government looks to boost its prospects in the 2019 general elections by spending more on rural infrastructure and sectors that would generate employment. This is, however, unlikely to affect India’s fiscal deficit target for 2017-18, which was raised to 3.5% of the GDP (gross domestic product), from 3.2% earlier, to boost spending.

Tell me more: This includes Rs 62,700 crore as goods and services tax compensation to state governments and union territories and Rs 9,260 crore for pension payments to armed forces.

 

9

What is it? The number of months after which the Supreme Court has scrapped the Kerala High Court order to restore the marriage of Hadiya, an alleged victim of ‘love jihad’.

Why is it important? The top court on Thursday said Hadiya’s marriage to Shafin Jahan is legal and valid, and that the former entered the relationship by her free will and consent. However, it also said the National Investigation Agency can continue to probe the ‘love jihad’ angle in accordance with the law. The term ‘love jihad’ refers to Muslim men allegedly getting into a conspiracy to lure Hindu women by marrying them to get them to embrace Islam.

Tell me more: Hadiya’s father said it is painful to send her with an ‘extremist’ and that he would consider filing a review petition in the Supreme Court.

 

25%

What is it? The duty to be levied on steel imported into the US, along with 10% on aluminium imports. US president Donald Trump signed the order yesterday and the tariffs will kick in within 15 days.

Why is it important? It’s the first salvo fired by Trump in the name of protecting American jobs and he warned more such “reciprocal tariffs” were coming against countries whose tariffs were higher than the US. For a country that led the way to open world markets, this is a step in the other direction, and some have raised fears of tit-for-tat actions unsettling the global trade balance.

Tell me more: American steel and aluminium stocks fell on Thursday: Nucor, the largest American steel producer, fell 2.7%. Alcoa, the biggest US aluminium producer, ended down 0.9%.

 

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News in Numbers, Dec 8, 2016: The surprise decision…

6.25%

What is it? The repo rate, the rate at which the central bank lends to commercial banks.

Why is it important? It has been left unchanged by the Reserve Bank of India’s monetary policy committee, a unanimous decision by the six-member team. This decision has been widely perceived to be a surprise even as many analysts had predicted a rate cut after the cash crunch brought on by the government’s move to replace high-value currency notes, which threatens to slow down the economy. The rates were held steady amidst concerns about the re-emergence of food inflation pressures, a likely increase in crude oil prices and the expected increase in interest rates by the US Federal Reserve.

Tell me more: The central bank has lowered its growth forecast to 7.1% from the earlier projection of 7.6% due to demonetisation.

 

Rs 35,170 crore

What is it? The increase in net spending for which Finance Minister Arun Jaitley has sought Parliamentary approval in the current fiscal.

Why is it important? This is the second time that additional funding is being sought. In August, extra funds of $3.1 billion was approved for spending in 2016-17. The recent request comes after the Indian economy grew by 7.3% in the July-September quarter, mainly driven by government spending as private investment activity showed no signs of gaining pace.

Tell me more: The additional spending includes Rs 4,000 crore for a rural jobs programme, Rs 3,100 crore for the farm ministry and Rs 1,100 crore to cover a higher pensions bill.

 

5.5%

What is it? The percentage of customer acquisition forms (of a total of 7.84 crore audited) that were found to be non-compliant as of September 2016 during verification of such forms used to enrol customers by telecom operators.

Why is it important? Indicates that a significant share of users are not verified (as mandated) before providing them with mobile connections. A total of Rs 2,335.9 crore penalty has been levied on telecom service providers as on the last day of September. It remains to be seen if the telecom ministry’s recent circular notifying the use of Aadhaar e-KYC (know your customer) service of the Unique Identity Authority of India for issuing mobile connections to users is likely to bring down the number of such violations.

Tell me more: The Telecom Enforcement, Resource and Monitoring Cells carry out the verification exercise of customer acquisition forms of 0.1% of users at the end of every month.

 

£1 billion

What is it? The amount Tata Steel plans to invest in UK over the next 10 years.

Why is it important? This is part of the deal that Britain’s largest steelmaker has offered to unions and in return, it expects them to move to a defined contribution scheme from the existing expensive pension scheme. This deal brings Tata Steel a step closer to merging its European assets with Germany’s Thyssenkrupp, which does not want to take on the former’s pension liabilities in case a merger happens. The unions would decide on the deal in January next year.

Tell me more: The deal also includes Tata Steel offering to keep both the furnaces operational at Port Talbot in South Wales for five years at least with no compulsory redundancies during that period. Tata Steel employs 4,000 people at the Welsh plant and 11,000 in the UK.

 

36

What is it? The number of cases where the baby cannot fit down the birth canal per 1,000 births compared to 30 in 1,000 in the 1960s, according to a research.

Why is it important? The research suggests that the regular use of caesarean sections is affecting human evolution. Increasingly, more mothers require surgery to deliver babies due to their narrow pelvis size. Earlier, women with a very narrow pelvis would not have survived birth but now due to medical interventions, they do and pass on their genes to their girl children. The question of why the human pelvis has not grown wider over the years despite the fact that the head of a human baby is larger than that of other primates, still remains unanswered.

Tell me more: The research published in the journal ‘Proceedings of the National Academy of Sciences’ says that the study points towards the trend of larger newborns (which are more healthy) and that the trend towards smaller newborns has disappeared.

 

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