Category Archives: economy

economy, environment, international, law, politics

Sri Lankan Navy arrests 47 Indian fishermen for ‘illegal fishing’

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Sri Lankan Navy Arrests 47 Indian Fishermen for ‘Illegal Fishing’

By Rahul | Tue, 14/10/2025 – 00:04

The Sri Lankan Navy apprehended 47 Indian fishermen and seized five boats for ‘illegal fishing’ late Wednesday into early Thursday.

The incidents occurred in the north of Mannar and off Delft Island as the boats trespassed into Sri Lankan waters, according to an official statement from the Sri Lankan Navy. The North Central and Northern Naval commands were deployed to drive away fishing boats and arrest and seize boats of those who continued to engage in illegal fishing activities.

Four fishing boats, along with 30 fishermen, were handed over to the fisheries inspector of Mannar, while the other boat and the remaining 17 fishermen were handed over to the inspector of Malaidi for onward legal proceedings.

According to the Sri Lankan Navy, the arrests were made during regular proactive operations against poaching. “These efforts underscore the collective robust approach and steadfast commitment to safeguarding the nation’s marine ecosystems while ensuring the economic security and wellbeing of its citizens,” the Navy stated.

Fishing rights and maritime boundaries in the Palk Strait have been subject to long-standing tensions, including in the bilateral relations between India and Sri Lanka. Last month, 12 Indian fishermen were arrested and their boat was seized near Delft Island in Jaffna.

The Sri Lankan Navy has repeatedly taken action against Indian fishermen for entering Sri Lankan waters, including seizing boats and arrests. Indian fishermen, particularly from Tamil Nadu, have routinely accused Sri Lankan security forces of harassment, arrests, and even fatal shootings.

http://www.tamilguardian.com/content/sri-lankan-navy-arrests-47-indian-fishermen-illegal-fishing

economy, finance, government, retirement, social welfare

EPFO eases claim rules, allows 100 pc partial withdrawal, check details here

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**EPFO Approves Liberalised Partial Withdrawal Rules to Benefit Over 70 Million Account Holders**

In a significant reform aimed at enhancing the ease of living for more than 70 million account holders, the Employees’ Provident Fund Organisation (EPFO) has approved liberalised partial withdrawal rules. This landmark decision allows members to withdraw up to 100 per cent of their eligible provident fund balance, reported PTI.

The announcement came during the Central Board of Trustees (CBT) meeting chaired by Union Minister Mansukh Mandaviya. The board resolved to simplify the existing 13 complex withdrawal rules into three clear categories:

– **Essential Needs** (such as illness, education, marriage)
– **Housing Needs**
– **Special Circumstances**

### Key Highlights of the New Withdrawal Rules

– **Full withdrawal (100%) allowed:** Both employee and employer contributions can be withdrawn entirely under specified conditions.
– **Increased withdrawal limits:** Education-related withdrawals can be made up to 10 times the previous limits, and marriage withdrawals up to 5 times, a significant jump from the earlier combined limit of 3 times.
– **Reduced minimum service requirement:** Members are now eligible for partial withdrawals after just 12 months of service.
– **Easier claims under Special Circumstances:** Members no longer need to specify reasons, reducing the chance of claim rejections.
– **Minimum balance to retain:** A minimum balance of 25 per cent must be retained in the account to ensure long-term retirement savings are protected.
– **Documentation-free processing:** The new process aims for 100 per cent auto-settlement of claims, making withdrawals faster and hassle-free.

### Revised Final Settlement Rules

The CBT also approved changes to the final settlement timelines:

– The waiting period for full EPF withdrawal has been reduced from 2 months to **12 months** after leaving an employer.
– The timeline for final pension withdrawal has been extended to **36 months** to safeguard pension benefits.

### ‘Vishwas Scheme’ Introduced to Ease Litigation

To minimize litigation, EPFO introduced the ‘Vishwas Scheme’ to resolve pending penalty cases under Section 14B. The scheme offers a flat penalty rate of 1 per cent per month, with reduced rates for shorter defaults. It covers both pending and ongoing litigations and will be operational for 6 months, extendable by another 6 months.

### Doorstep Digital Life Certificate Service for Pensioners

The board also approved a Memorandum of Understanding (MoU) with India Post Payments Bank (IPPB) to provide doorstep Digital Life Certificate (DLC) services free of charge to EPS 1995 pensioners. This initiative aims to help elderly pensioners, especially in rural areas, continue receiving their pensions smoothly without hassle.

### EPFO 3.0: A Member-Centric Digital Revamp

As part of the EPFO 3.0 digital transformation, a new member-centric digital framework was approved. Key features include:

– Integration with core banking solutions
– Adoption of cloud-native technology
– API-first architecture to enable faster, automated claims
– Payroll-linked contributions
– Multi-language self-service portals

### Investment Strategy and Digital Initiatives

Four fund managers have been selected to manage EPFO’s debt investment portfolio for a five-year term, ensuring safe and effective investment of retirement savings.

Minister Mansukh Mandaviya also launched several key digital initiatives focused on enhancing the efficiency and user-friendliness of EPFO services, reinforcing the organisation’s commitment to delivering seamless experiences to members.

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*With inputs from PTI*
https://www.mid-day.com/news/india-news/article/epfo-simplifies-13-complex-claim-rules-allows-100-per-cent-partial-withdrawal-check-complete-details-here-23598521

culture, economy, finance, holidays

How much gold can Indians own? Know the law

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**How Much Gold Can Indians Own? Know the Law**
*By Dwaipayan Roy | Oct 13, 2025, 05:48 PM*

With Dhanteras and Diwali approaching, many families are considering their gold purchases. Understanding the legal aspects of gold ownership in India is essential before making any investment.

### Historical Background
The Gold Control Act of 1968 once imposed restrictions on gold ownership in India. However, this law was repealed in 1990. Since then, there are no legal limits on how much gold a person can own, provided they can prove the legitimate source of the gold through invoices or inheritance documents.

### Limits on Seizing Gold Jewelry During Raids
The Central Board of Direct Taxes (CBDT) has issued specific guidelines for income tax officials during raids on gold holdings. According to a circular dated May 11, 1994, there are limits on the quantity of gold jewelry that cannot be seized during such raids. These limits are:

– 500 grams for married women
– 250 grams for unmarried women
– 100 grams per male member of the family, regardless of marital status

These measures are intended to protect genuine personal holdings from confiscation.

### Tax Implications on Gold
The tax treatment of gold depends on its form and the holding period:

– Physical gold, Gold Exchange-Traded Funds (ETFs), and other digital gold products are considered capital assets.
– If sold within 12 months of purchase, the gains are treated as short-term capital gains (STCG) and taxed according to the individual’s income tax slab (ranging from 5% to 30%).
– If held for more than 12 months, the gains qualify for long-term capital gains (LTCG) tax at a flat rate of 20% under the current tax regime, without the benefit of indexation.

### Conclusion
There is no restriction on the amount of gold an individual can own in India today. However, it is crucial to maintain proper documentation to prove the source of gold and to be aware of tax liabilities when selling gold assets. As the festive season nears, investors should make informed decisions regarding their gold purchases to stay compliant with the law.
https://www.newsbytesapp.com/news/business/is-there-limit-on-gold-ownership-in-india/story

business, economy, international, science, technology

ノーベル経済学賞に米大教授ら　「技術革新による成長の解明」

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ノーベル経済学賞に米大学教授ら 「技術革新による成長の解明」

（2025年10月13日 19:31 更新）

※この記事は有料会員限定です。

【ストックホルム共同】スウェーデンの王立科学アカデミーは13日、2025年のノーベル経済学賞を米ノースウエスタン大学のジョエル・モキイア教授ら3人に授与すると発表しました。

授賞理由は「イノベーション（技術革新）による経済成長のメカニズムの解明」です。

なお、この記事の続きをご覧いただくには、有料会員登録が必要です。7日間の無料トライアルのほか、1日あたり37円の読み放題プランもご利用いただけます。年払いプランでさらにお得にご利用可能です。

クリップ機能は有料会員限定のサービスです。

https://www.nishinippon.co.jp/item/1410788/

business, economy, immigration, international, technology

Just 500 TCS employees are on H-1B visas in US

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**Just 500 TCS Employees Are on H-1B Visas in the US**

*By Dwaipayan Roy | Oct 13, 2025, 01:33 PM*

**Tata Consultancy Services (TCS)**, India’s largest IT services company, has announced a significant reduction in its reliance on H-1B visas for its workforce in the United States. According to the company, only about 500 of its employees currently hold H-1B work permits to work in the US.

This move reflects TCS’s strategic shift to localize its workforce in the US and adapt to evolving immigration policies under the Donald Trump administration.

### TCS’s Past Reliance on H-1B Visas

TCS has historically been one of the biggest beneficiaries of the H-1B visa program among Indian IT firms. As of September 2025, the company had received approximately 5,505 H-1B visas, according to data from Moneycontrol.

However, during a recent post-earnings call, TCS’s Chief HR Officer, Sudeep Kunnummal, noted, “We have significantly localized our workforce in the US.” This signals a clear intent to reduce dependence on visa-based employees and increase the presence of local talent.

### Adapting to Changes in Immigration Policy

Kunnummal further emphasized, “We believe our business model will be able to adapt quickly to any changes in immigration policy.” His comments come just a month after the US government announced an increase in the annual H-1B visa fee, a decision that sparked concerns about potential short-term disruptions in workforce deployment for IT companies operating in the US.

### Proposed Overhaul of the H-1B Visa System

In addition to the fee hike, the US Department of Homeland Security has proposed changes to the current lottery-based H-1B visa system. The new proposal aims to implement a wage-based selection process that prioritizes higher-paid and higher-skilled applicants.

This overhaul is part of the US government’s broader effort to ensure that H-1B visas are allocated to the most qualified candidates.

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TCS’s shift toward localizing its US workforce and adapting to these regulatory changes highlights the company’s proactive approach in navigating the evolving landscape of international work visas.
https://www.newsbytesapp.com/news/business/h-1b-visa-tcs-reduces-its-dependence-to-just-500-employees/story

business, economy, environment, international, technology

SDEC 2025: Where AI, chips, and talent converge in Selangor

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**New Partnerships & Initiatives Strengthen R&D and Open Opportunities for Local Talent**
*Event Reinforces Selangor’s Role as Malaysia’s Hub for Semiconductor and AI Innovation*

The Selangor Smart City & Digital Economy Convention (SDEC) took place last week, marking a significant milestone in Malaysia’s drive towards becoming a design-led, innovation-driven nation. Organised by the Selangor Information Technology & Digital Economy Corporation (Sidec), the four-day convention ran from 8 to 11 October 2025 under the theme **“AI × Semiconductor: Blitzscaling Malaysia’s Deep Tech.”**

The officiating ceremony featured the launch of SDEC 2025 by Amirudin Shari, Menteri Besar of Selangor, alongside distinguished guests. The event acknowledged new semiconductor partners, reinforcing Selangor’s role as Malaysia’s data and chip innovation hub.

A key highlight of SDEC 2025 was the announcement of Synopsys’ expansion in Malaysia through Intelligent Circuit Engineering Sdn Bhd. This move represents a significant step towards strengthening the nation’s semiconductor R&D capabilities while opening new career pathways for Malaysian engineers.

Another major development was the signing of a Memorandum of Understanding (MoU) between Cheah Hun Wah, representing Oppstar Berhad, and Dr Simon Hsu, representing AsicAI Co. and serving as executive director of AIRIS Labs. This partnership aims to advance collaborative innovation in IC design, focusing on developing Arm-based AI-RAN chips through Oppstar’s subsidiary, AIRIS Labs Sdn Bhd. This initiative marks another bold stride in Selangor’s mission to build a globally competitive deep-tech ecosystem.

Over the four days, SDEC 2025 featured two flagship summits—**Semiconductor Innovation** and **AI Innovation**—alongside the **Malaysia Semiconductor Recruitment Day** and the **Selangor Twin Accelerator Programme**. Collectively, these events showcased Malaysia’s accelerating transition towards a design-led, innovation-driven digital economy powered by talent, technology, and collaboration.

Building on Selangor’s emergence as Southeast Asia’s fastest-growing digital hub, SDEC 2025 positions the state at the heart of Malaysia’s semiconductor and AI ecosystems. This year’s programme featured renowned speakers including Prof Jack Sun (former CTO, TSMC), CK Tseng (President, Arm ASEAN), June Paik (CEO, FuriosaAI), Jim Keller (CEO, Tenstorrent), and YH Simon Hsu (Director, NARLabs Taiwan). They shared valuable insights on how AI and semiconductors are transforming global industries.

Complementing these discussions was the Malaysia Semiconductor Recruitment Day 2025, which connected top engineering talent with over 30 semiconductor companies offering 500 career opportunities — making it the country’s largest hiring event for the deep-tech sector.

Highlighting the convention’s mission, Yong Kai Ping, CEO of Sidec, said,
> “SDEC 2025 is more than a conference — it is Malaysia’s bridge to the future of deep technology. By uniting the worlds of artificial intelligence and semiconductors, we are shaping the next decade of innovation made by Malaysia, not just made in Malaysia.”

As the main sponsor, Affin Group played a key role in empowering Malaysia’s digital economy by supporting entrepreneurs and technology-driven SMEs. Syed Mashafuddin, representing Affin Group, expressed:
> “Affin Group is proud to stand alongside Sidec and the Selangor state government in advancing Malaysia’s deep-tech ecosystem. Through strategic collaborations like SDEC 2025, we aim to bridge finance and innovation, fueling growth for startups, SMEs, technology enterprises, and large companies that will define Malaysia’s next decade of digital leadership.”

Marking its tenth anniversary, SDEC 2025 underscored Selangor’s decade-long commitment to advancing the digital economy through landmark initiatives such as the Malaysia Semiconductor IC Design Park and the Selangor Twin Accelerator Programme.

The convention was supported by strategic partners including Xendit (strategic payment partner), Plug and Play APAC (strategic global partner), Arm, Malaysian Investment Development Authority (MIDA), Malaysia Digital Economy Corporation (MDEC), Cradle, Cyberview, Malaysia Semiconductor Industry Association (MSIA), Malaysia Automotive Robotics and IoT Institute (MARii), and Internet Alliance.

As Malaysia’s deep-tech ambitions continue to gain momentum, SDEC 2025 stands as the region’s most comprehensive platform connecting innovation, industry, and investment — cementing Selangor’s position as the launchpad for Southeast Asia’s next wave of digital breakthroughs.
https://www.digitalnewsasia.com/digital-economy/sdec-2025-where-ai-chips-and-talent-converge-selangor

business, economy, food, hospitality, tourism

Expo’s Only Independent Vendor Becomes Big Success Story

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Determined to seize the opportunity, Noguchi and his team even slept inside the Expo grounds rather than commute, allowing them to work around the clock and serve a relentless stream of eager visitors.

Before the Expo, Noguchi’s shop in Osaka’s Nakatsu district had already earned a reputation for premium tonkatsu. For the Expo, he elevated his craft into a full dining experience, aging pork to draw out its natural umami, coating it in ultra-light breadcrumbs, and frying each cutlet at low temperature before finishing it with a crisp, high-heat flash. The result is a melt-in-the-mouth dish that, as Noguchi notes, represents “the cutting edge of Japanese pork cuisine.”

Noguchi’s path to the Expo was far from easy. With approval granted only in late December, just two months before opening, he faced financing challenges as banks hesitated amid public skepticism about the event. Undeterred, he borrowed from friends to cover the 55 million yen needed for construction all out of his own pocket and completed the shop a mere week before opening day.

His motivation came from a childhood memory of attending the 1970 Osaka Expo, which left a deep impression. Later, a visit to Expo Milano revealed the potential for chefs to shine on the global stage, inspiring him to represent Japan at the next world fair. When Osaka was chosen as host, “there was no question I had to be part of it,” he recalled.

Since opening, Noguchi’s restaurant has been fully booked daily, and reservations have become difficult to secure. The team’s days begin at 6 a.m. with prep work, followed by four lunch seatings, take-out service, and three dinner seatings that run until 10 p.m., with cleanup and prep continuing past midnight.

Despite the grueling schedule, Noguchi describes the experience as “immensely enjoyable,” with visitors’ energy and enthusiasm fueling his passion. The hard work has paid off: sales have soared tenfold, reaching roughly 150 million yen in just six months.

Noguchi has also used the Expo as a platform for innovation, collaborating with local producers to create new menu items such as rice croquettes wrapped in pork sourced from nearby farms. He sees such projects as a way to promote Japanese agriculture and elevate tonkatsu to a global culinary art form. “This is Japan’s culture,” he said, “and I want to show it to the world.”

The Expo’s economic impact extends beyond its gates. At Bentencho Station, a key transfer point for visitors, a retro izakaya has seen its monthly revenue jump by as much as 50 percent. The influx of younger customers—particularly women—has been striking, with many choosing to dine there before entering the Expo grounds to avoid long food queues inside.

Although the owner expects business to return to normal once the event ends, he says the surge has been a welcome boost amid rising costs. “The Expo’s effect has been significant,” he said. “It’s brought in new customers and reminded people we’re part of the Expo experience too.”

As the Osaka-Kansai Expo approaches its final day, the story of Noguchi and his small team captures the spirit of entrepreneurship, determination, and creativity that global events can spark—proving that with enough passion and perseverance, even a single restaurant can become one of the stars of a world stage.
https://newsonjapan.com/article/147259.php

economy, international, military, politics, technology

トマホークで民間攻撃せず　軍事限定とゼレンスキー氏

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トマホークで民間攻撃せず 軍事限定とゼレンスキー氏

2025年10月13日 6:01（2025年10月13日 6:03 更新） [有料会員限定記事]

【ワシントン、キーウ共同】ウクライナのゼレンスキー大統領は12日、放送されたFOXニュースのインタビューで、米国がウクライナへの間接供与を検討している巡航ミサイル「トマホーク」について言及しました。

ゼレンスキー氏は、トマホークを使った攻撃はあくまで軍事施設などに限定し、民間施設や一般市民を攻撃することはないと強調しました。

この記事の全文は有料会員限定となっております。残りの本文（約431文字）については、7日間無料トライアル（一日37円で読み放題）または年払いプランでご覧いただけます。

https://www.nishinippon.co.jp/item/1410652/

business, culture, economy, international, tourism

13日閉幕の万博、分かれた恩恵　各地で参加国と交流の一方、誘客は大阪に集中

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2025年10月13日 6:00
【有料会員限定記事】

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### 大阪・関西万博の一般来場者数

158カ国・地域が参加した大阪・関西万博は、日本各地の自治体にとって、なじみの薄い国と交流するきっかけとなりました。新たな絆が次々と生まれ、万博を契機に観光客誘致や経済活性化につながることへの期待も高まっています。

▶ 【関連記事】大阪・関西万博、13日閉幕へ 来場者、半年で2500万人

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※この記事は有料会員限定です。
残り1251文字を読むには、7日間無料トライアル（1日37円で読み放題）をご利用ください。年払いならさらにお得です。

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※クリップ機能は有料会員の方のみご利用いただけます。

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【西日本新聞meとは？】
（ここに西日本新聞meのサービス説明などを挿入してください）

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https://www.nishinippon.co.jp/item/1410624/

banking, business, economy, finance, international

Bad bank loans climbed to nine-month high in August

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Bad loans in the Philippine banking system climbed to a nine-month high in August. This rise comes as lenders, squeezed by narrower margins due to falling interest rates, may have turned to riskier retail borrowers in search of higher returns.

Latest data from the Bangko Sentral ng Pilipinas showed an increase in nonperforming loans (NPLs), which are defined as debts overdue by at least 90 days. This trend highlights growing concerns about credit quality amid changing market conditions.
https://business.inquirer.net/552316/bad-bank-loans-climbed-to-nine-month-high-in-august