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New Delhi’s big plan to become a chip powerhouse

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global chip shortage

Semiconductor chips are tiny pieces of computer hardware that play a vital role in everything from mobile phones to militaries.

They are also central to Delhi’s plan to turn India into a global technology powerhouse.

Delhi has invested billions of dollars in subsidies and infrastructure projects to create a domestic chip-manufacturing industry. The government also offers incentives to foreign companies that set up chip-making facilities in India. But so far, the country has failed to produce a single world-class chipmaker.

Despite the challenges, Delhi is pressing ahead with its plans.

The government is investing $6 billion in a new National Semiconductor Laboratory, which is due to open in 2021.

Cutting edge tech

The lab will be equipped with cutting-edge facilities for developing and testing chips.

Delhi is also working on a $770 million semiconductor Fab Park, which will provide cleanroom space and other infrastructure for chipmakers.

The first phase of the park is due to open in 2021, with the second phase expected to be completed by 2025.

The government is also subsidizing the construction of new chip-making facilities by Indian companies.

In 2018, it committed $1.6 billion to help Hindustan Semiconductor Manufacturing Corporation build a new factory near Chennai. The facility is expected to be operational by 2022.

Delhi’s ambitious plans have yet to bear fruit, but the government is committed to creating a world-class semiconductor industry in India.

With billions of dollars of investment and a host of incentive programs, it may only be a matter of time before the country produces its first world-class chipmaker.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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France receives lowest credit rating due to crisis

France’s credit rating downgraded to record low amid political and fiscal crisis, raising concerns over debt and stability

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France’s credit rating downgraded to record low amid political and fiscal crisis, raising concerns over debt and stability

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In Short:
– Fitch Ratings downgraded France’s credit rating to A+, citing political instability and fiscal challenges.
– New Prime Minister Lecornu must secure budget approval amidst rising deficit and potential no-confidence vote.
Fitch Ratings has downgraded France’s credit rating from AA- to A+, the lowest ever recorded, amid ongoing political and fiscal challenges.
The decision comes shortly after Prime Minister François Bayrou was removed in a vote of no confidence regarding his €44 billion austerity plan.
President Emmanuel Macron has appointed Sébastien Lecornu as the new prime minister, marking the fifth leadership change in under two years.Banner

Fitch highlighted political instability as a key factor undermining fiscal reforms, with France’s debt now at €3.3 trillion, or 113.9% of GDP.

The budget deficit increased to 5.8% of GDP and is expected to rise, posing challenges ahead.

Political Instability

The new prime minister faces a divided parliament and must secure budget approval by October 7.

The far-left plans a no-confidence vote against Lecornu, complicating further cooperation on legislative reforms, with S&P Global hinting at a potential downgrade.


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Trump moves to fast-track removal of Fed governor Lisa Cook

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The White House is set to fast-track a ruling on firing Federal Reserve Governor Lisa Cook, just days before the crucial FOMC meeting.

The move comes as markets reel from surging inflation, weak jobless data, and global currency shifts, raising questions about the Fed’s independence and the stability of policy decisions.

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ANZ job cuts spark banking clash

ANZ plans to cut 3,500 jobs, sparking debate on the future of Australia’s banking sector and employment dynamics.

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ANZ plans to cut 3,500 jobs, sparking debate on the future of Australia’s banking sector and employment dynamics.


ANZ has announced plans to cut 3,500 staff and 1,000 contractors over the next year, triggering a fierce debate between business leaders, unions, and government about the future of Australia’s banking sector.

The decision raises wider questions about the resilience of the business community and the role of politics, productivity, and technology in shaping employment.

#ANZ #Banking #Jobs #Unions #Australia #Economy #TickerNews


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