Gujarat’s space tech industry, concentrated in Sanand and Ahmedabad, supports startups like Om Space and PierSight, backed by ISRO, PRL, SAC, and IN-SPACe. With Micron’s semiconductor plant enhancing the ecosystem, MSMEs and IIMA Ventures also provide significant support. Notable startups work on innovations such as Om Space’s sounding rockets and PierSight’s advanced payloads.
Cyprus Startups Lead Technology Revolution at Major Athens Conference
Cyprus was cited as an example to follow regarding its startups environment that is second only to tourism in contribution in the island’s economy. John Georgoulas, independent director of Nicosia-based digital banking platform ECOMMBX, emphasized the importance of technology in shaping the future and promoting transparency. He highlighted Cyprus as a model at The Economist’s 28th Annual Government Roundtable, noting the country’s technology sector contributes 13% to GDP, second only to tourism. The sector attracts new companies and human resources, with over 300 fintech companies operating in Cyprus.
Georgoulas identified challenges in promoting innovation in Europe, including the lack of capital markets integration as a significant barrier. He mentioned that this hurdle leads startups to explore opportunities in the US market. While acknowledging the necessity of regulations, Georgoulas cautioned against over-regulation that could raise costs to unsustainable levels for businesses.
The tech sector in Cyprus is thriving, playing a vital role in the economy and attracting a diverse range of companies. With ongoing efforts to foster innovation and growth, Cyprus continues to establish itself as a hub for startups in the region.
Euro slips as French election results point to hung parliament, France
The euro slipped and French bond futures fell after French elections pointed to a hung parliament, casting fresh uncertainty over markets as a period of gridlock looms.
The euro dropped around 0.2% in Asia trade to $1.0819 and long-term French bond futures dipped 20 ticks for an implied yield of 3.13%.
Analysts said markets would likely be relieved that Marine Le Pen’s far-right National Rally (RN) was forecast to come third, instead of winning the second-round ballot as had been predicted by opinion polls.
Yet investors also have concerns that the left’s plans could unwind many of President Emmanuel Macron’s pro-market reforms and believe a gridlock could end attempts to rein in France’s debt, which stood at 110.6% of gross domestic product in 2023.
It looks like the anti-far right parties really got a lot of support, said Simon Harvey, head of FX analysis at Monex Europe.
Cash trading in French bonds and stocks will begin on Monday morning in Europe. Moves in broader financial markets were modest.
The election leaves France’s 577-seat assembly divided in three big groups – the left, centrists, and the far right – with hugely different platforms and no tradition at all of working together.
Markets had tumbled when Macron in a shock move in June called for parliamentary elections following a trouncing at the hands of the RN in European Parliament elections.
French stocks, led by banks, dropped as investors worried about their holdings of government debt, new regulation and economic uncertainty in the euro zone’s second biggest economy.
While the prospect of a far-right prime minister has dimmed and there has been some market rebound, the left has some expensive proposals and is also likely to shake up relations with Europe, leaving the outlook for French assets bumpy.
The leftist New Popular Front alliance, which wishes to govern, says its first moves would include a 10% civil servant pay hike, providing free school lunches, supplies and transport while raising housing subsidies by 10%.
The risk premium investors demand to hold the country’s debt has touched its highest level since the euro zone crisis in 2012 as the country headed for the polls and even though there has been some recovery, a period of volatility is likely ahead.
It’s going to be very hard to actually go ahead and pass any policy and bring about any progressive reforms because each party’s vote is split and no one has an absolute majority, said Aneeka Gupta, director of macroeconomic research at WisdomTree.
Yet she added: I think the markets will be happy we’re avoiding this extreme situation with the far right.
(Reporting by Harry Robertson and Dhara Ranasinghe; Additional reporting by Tom Westbrook in Singapore; Editing by Elisa Martinuzzi, Frances Kerry and Himani Sarkar)
France Faces Uncertainty as Left-Wing Coalition Emerges Victorious in Parliamentary Elections
A left-wing coalition has emerged victorious in the French legislative elections, garnering the most seats but falling short of a majority. This outcome has set France on a new path, with no dominant party in the parliament. The future largely hinges on the unpopular President Emmanuel Macron’s next steps after suffering a significant defeat in these elections.
The New Popular Front alliance, a recently formed coalition, secured 182 seats, edging out Macron’s centrist Ensemble coalition with 168 seats and the far-right National Rally with 143 seats. While the results marked a setback for the National Rally, its leaders expressed dissatisfaction with what they labeled an alliance of dishonor, accusing Macron of leading France toward uncertainty and instability.
In the wake of the election results, political leaders weighed in on the situation, with Marine Le Pen of the National Rally lamenting a potential deadlock in the country. Jean-Luc Mélenchon of France Unbowed called for Macron to accept the defeat graciously and consider the New Popular Front to lead the government, emphasizing the need for change and new leadership.
With Macron’s government facing challenges and calls for him to step aside, Prime Minister Gabriel Attal announced his resignation to pave the way for a new era in French politics. As the country navigates uncharted waters without a dominant party in power, the possibility of a coalition government or an expert-led administration looms.
The next steps post-election remain crucial, with Macron’s decisions shaping the political landscape in France. The absence of a clear figure for the prime ministerial role adds to the uncertainty, awaiting the formation of the National Assembly on July 18. As Macron grapples with the aftermath of the elections, the future governance of France hangs in the balance, poised for potential shifts and collaborations amidst a fractured political landscape.
New UK PM Keir Starmer Axes Rwanda Deportation Plan, Focuses on Growth
Newly elected UK Prime Minister Keir Starmer has swiftly taken charge by denouncing the ousted Tories’ Rwanda migrant deportation plan. Pledging a focus on growth as his government’s central mission, Starmer signaled a significant shift in policy direction. The Labour leader expressed his commitment to change and a new approach to politics following a resounding election victory. Starmer’s immediate actions included assembling a diverse cabinet, emphasizing the importance of driving growth and setting high standards for his ministers. Internationally, he reaffirmed the UK’s support for NATO and engaged with world leaders, with a visit to Washington for a summit on the horizon. As Starmer’s leadership takes shape, the UK faces challenges on multiple fronts, including economic stagnation and strained public services. The political landscape also saw significant shifts with the Conservative Party’s dramatic defeat and the emergence of various other parties in the electoral mix. Starmer’s agenda promises significant changes, setting a new course for the future of the UK under his leadership.
Unlocking the Brain’s Proprioceptive Mysteries in Primates, US
In a recent study published in Cell, Marin Vargas and Bisi et al. present an innovative approach to unravel the computational principles underlying proprioceptive processing in non-human primates. Their findings showcase the utility of task-driven modeling in advancing neuroscience and offer translational potential by providing seminal insights into the goals and mechanisms by which the brain encodes body position and movements.
Proprioception allows us to perceive the position and movement of our body parts and is crucial for motor control and coordination, such as when reaching for a light switch in the dark. Proprioceptive signals originate from specialized mechanoreceptors in muscles, tendons, and joints, and travel through the dorsal column-medial lemniscus pathway. Within this pathway, the cuneate nucleus plays a pivotal role in processing sensory information from the upper limbs and trunk. It then directs this information through the thalamus to reach both the primary and secondary somatosensory cortices. In these cortical areas, proprioceptive signals are integrated with other sensory information, typically shaping our perception of body position and movement unconsciously. Despite this understanding, the precise mechanisms involved in proprioception are still unclear.
Stay tuned for more updates on this groundbreaking study and how it sheds light on the intricate workings of the brain and body.
South Florida Driver Faces DUI and Vehicular Homicide Charges in Fatal Crash near Fort Lauderdale, US
NEAR FORT LAUDERDALE, Fla. — A South Florida driver is facing serious charges one day after he was involved in a violent crash that left his passenger dead and his car split into pieces.
Ivan Billie Jr. was released from the hospital on Sunday morning, but shortly after, he was arrested by Broward Sheriff’s Office deputies.
The 26-year-old later appeared before a Broward circuit judge.
Real cause is found on all counts, one through six, said the judge.
Billie faces a list of charges, including driving under the influence and vehicular homicide.
According to the BSO report, the suspect was traveling westbound on Sheridan Street in a white Chevrolet with another man.
A witness told investigators that the car was speeding. The arrest report states Billie tried to swerve around another car, but then lost control and slammed into a pole at the intersection of University Drive and Sheridan Street.
Detectives said the passenger in the Chevrolet died at the scene.
The wreck shut down the busy intersection for hours on Saturday, as BSO’s Traffic Homicide Unit and detectives investigated the cause of the crash.
Billie is being held without bond.
British Firms Ease Price Hikes in BoE Rate Cut Anticipation, UK
LONDON – Fewer British firms plan to raise their prices in the coming months, according to a survey that will give reassurance to the Bank of England as it considers the possibility of cutting interest rates as soon as next month. In a latest sign of the improving economic picture inherited by new Prime Minister Keir Starmer, the British Chambers of Commerce said 39% of member companies it surveyed expected to raise prices over the next three months, down from 46% in its previous survey published in April.
Concern about inflation among businesses has dropped to levels last seen in 2021, David Bharier, head of research at the BCC, said. A Bank Rate cut later this year will help bring down borrowing costs.
The chance of the BoE cutting its benchmark Bank Rate to 5.0% from 5.25% on Aug. 1 is seen as more than 50-50 by investors after headline inflation recently fell to the central bank’s 2% target and measures of inflation pressure also eased.
The BCC survey showed sales and cashflow improved in the second quarter of 2024 to pre-pandemic levels and the share of firms expecting an increase in turnover in the next 12 months rose to 58% from 56% in the April survey.
However, 75% of respondent firms were still not increasing investment, albeit with wide variations between sectors – 42% of transport and logistics firms said they had increased investment levels compared with only 19% of retail companies.
Starmer has said he hopes the prospect of political stability after 14 often turbulent years under the Conservatives will encourage companies to invest more.
The BCC survey was based on responses from 4,967 companies – 91% of them with under 250 employees – polled between May 13 and June 10.
Samsung Galaxy A55 5G: The Affordable Successor to the Popular Galaxy A54 Model, South Korea
Google continues to impress with its affordable yet powerful smartphone series, the latest being the Pixel 7. Samsung is not one to be left behind, introducing the new Galaxy Buds2 Pro, showcasing their top-tier wireless headphone technology. Nvidia also steps up the game with the GeForce RTX 4070 Super, offering enhanced performance at a lower price. Samsung aims to dominate the mid-range market with the Galaxy A55 5G, designed to rival the Galaxy S series without breaking the bank. In the realm of tech deals, these offerings are sure to catch the attention of savvy consumers looking for quality and value.
Plateau State Governor Focuses on Transforming Healthcare for Economic Growth, Nigeria
Plateau Hospital: No more mere consulting clinic | TheNewsGuru
It is a common saying that health is wealth; only a healthy person can work, create wealth, and contribute to the economy at all levels. A healthy population is key to economic development, any government that wants to build a virile economy has to pay attention to the health of its citizens, and this is what the Plateau State Governor, Caleb Mutfwang has been doing since he came on board a year ago.
During his campaigns, the Governor had anticipated a healthy citizenry hence he listed the health sector as one of the key areas his administration would give attention to. He stated the agenda would involve the rehabilitation, re-equipment, and staffing of government health institutions; provide a referral hospital in the State, and ensure proper regulation of private health facilities for the good of citizens.
On coming on board, the Governor among other interventions in the sector, appointed a seasoned Paediatrician, and a former Plateau State Nigerian Medical Association, NMA Chairman, Professor Christopher Yilgwan as the Chief Medical Director, CMD of the Plateau State Specialist Hospital Jos to reposition the hospital for improved healthcare delivery.
The Governor met some unfinished projects in the hospital that were commissioned by the previous administration, he had directed that they be completed for optimum value addition.
He said, Before we came on board, there were only two specialists in the Plateau Specialist Hospital. They were doing O&G and Family Medicine but we have approved four additional specialists – Paediatrics, Surgery, Internal Medicine, and another.
We are in the process of recruiting 22 Consultants to improve the services in the hospital…
He added, We are looking at reviving the contracts so that the hospitals can come back to life. We are making ad hoc interventions, in some of the services at the Plateau Specialist Hospital we had to bring in the private sector to manage because of the lack of personnel.
The CMD of State Specialists Hospital, Professor Yilgwan who has barely spent a year in office noted that the Governor is laying a solid foundation for healthcare delivery.
These and other achievements demonstrate the importance the Governor attaches to the healthcare sector. These have motivated us more as we pledge our unflinching support for the Time is Now administration.
He said, The Governor also approved the award of a contract for the supply and installation of Main Laboratory equipment of the newly constructed Laboratory complex, payment of outstanding funds for the Radio-diagnostic center, approved the deployment and installation of Electronic Medical Records, EMR project which is ongoing.
These and other achievements demonstrate the importance the Governor attaches to the healthcare sector. These have motivated us more as we pledge our unflinching support for the Time is Now administration.
A patient, Stella Obiakor who came for a scan at the Specialists’ hospital expressed delight at the improvement and said, I was taken aback to see the improvement, the environment is very clean and the service has improved. I like what I am seeing and I pray they maintain it.
