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75% Indians feel working for one boss 'old-fashioned'

Agencies
September 18, 2019

New Delhi, Sept 18: Over 75% Indians believe that the notion of working for one employer your entire career is "old-fashioned" and so is the traditional retirement, according to a survey.

Twenty-five per cent Indians would want a second innings post-retirement in a career they love, it said.

The survey also pointed out that 84% Indians ended up choosing a career based on what they majored in but 31 per cent ended up switching careers eventually.

According to the survey, 78% Indians believe that students today have technology to support their learning and make it easier and more fun.

There is a strong belief (74-79%) that smart devices will play a greater role in learning, virtual learning will become more common, print textbooks will become obsolete and YouTube will become a primary learning tool.

More than 11,000 people from across 19 countries, including over 1,000 Indians in the age group of 16 to 70, participated in the Pearson Global Survey.

At least 22% indicated that a formal education is good, but not necessary; 22% said formal education is not relevant today as one can be successful without it, the survey report said.

Of those who went to college, 39% said if they had to choose again, they would get some kind of trade or vocational training instead of going to college while 15 per cent said they would go straight to work after leaving high school, the report stated.

Fifty-nine per cent Indians believe that the country's education system works well for the current generation, it added.

Around 25% said that when they retire, they would want to start their own business. Twenty per cent would like a second innings doing something they love and 15% would like to take up a part-time job, the survey data showed.

The report stated that 76% Indians, in the last two years, found themselves in need of pursuing further education for their jobs.

Their jobs have changed and the new skills required involve learning new technology or software (44%) or accounting for skills they did not learn in college (45%), it said.

"This tended to be accomplished by finding things on the Internet and being self-taught (50 per cent), or taking a short course offered by employer, association or boot camp (48%)," the report said.

Seventy-eight per cent of the respondents said there was need to do more to develop their soft skills, it said.

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Agencies
July 29,2020

If everything goes as Russia’s expectation, it will be world’s first country to approve a coronavirus vaccine for widespread in the second week of August despite safety and efficacy concerns, according to a report. The adenoviral vector-based vaccine developed by Russian military and government researchers is currently in phase 2 trials.

According to a report from CNN, Russian officials are hoping to get approval for the COVID-19 vaccine developed by the Moscow-based Gamaleya Institute on Agust 10 or even before that. The officials told the outlet that the vaccine will be approved for public use with frontline healthcare workers receiving it first.

“It’s a Sputnik moment,” said Kirill Dmitriev, head of Russia’s sovereign wealth fund, which is financing Russian vaccine research, referring to the successful 1957 launch of the world’s first satellite by the Soviet Union, according to CNN.

“Americans were surprised when they heard Sputnik’s beeping. It’s the same with this vaccine. Russia will have got there first,” he was quoted as saying.

However, Russia is yet to release the scientific data on its coronavirus vaccine trials, hence, questions remain about the safety and efficacy of the vaccine, said the report. The vaccine is in the second phase of testing with developers planning to launch the phase 3 trials sometime after August 3.

Earlier, Interfax reported, citing Health Minister Mikhail Murashko, that the vaccine will be widely used in parallel with phase 3 trials. He said the country plans to vaccinate medics who are at high-risk for COVID-19 next month before clinical trials are completed.

Murashko added that individuals at higher risk of getting infected with the coronavirus such as older people or those with health conditions will also be prioritised for the vaccine, although he did not estimate or reveal when that would happen. The minister added 800 people will be recruited for the phase 3 trials.

Meanwhile, health officials were more cautious considering the fact that human testing of the vaccine is incomplete, and the state registration is expected to begin after August 3, reported The Moscow Times.

On Monday, Moderna and Pfizer announced the commencement of the final phase 3 trials of their candidate vaccines against the SARS-CoV-2 virus, which has so far claimed at least 654,477 lives and infected 16,514,500 people worldwide. 

Researchers will recruit up to 30,000 volunteers in separate trials both backed by the US government. India's first indigenous coronavirus vaccine, COVAXIN, is undergoing phase 1 human clinical trials across the country. More than 150 COVID-19 vaccines are being developed all over the world with at least six candidates already in late-stage clinical trials.

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Agencies
January 15,2020

Mumbai, Jan 15: Michael Debabrata Patra took over as Deputy Governor of the Reserve Bank of India (RBI) on Wednesday.

He was an Executive Director of India's central bank before being elevated to the post of Deputy Governor.

An RBI release said that as Deputy Governor, Patra will look after Monetary Policy Department including Forecasting and Modelling Unit (MPD/MU), Financial Markets Operations Department (FMOD), Financial Markets Regulation Department.

He will also look after Market Intelligence (FMRD/MI), International Department (Intl. D), Department of Economic and Policy Research (DEPR), Department of Statistics and Information Management (including Data and Information Management Unit) (DSIM/DIMU), Corporate Strategy and Budget Department (CSBD) and Financial Stability Unit.

Patra, a career central banker since 1985, has worked in various positions in the Reserve Bank of India.

As Executive Director, he was a member of the Monetary Policy Committee (MPC) of RBI, which is invested with the responsibility of monetary policy decision making in India. He will continue to be an ex-officio member of the MPC as Deputy Governor.

Prior to this, he was Principal Adviser of the Monetary Policy Department, Reserve Bank of India between July 2012 and October 2014.

He has worked in the International Monetary Fund (IMF) as Senior Adviser to Executive Director (India) during December 2008 to June 2012, when he actively engaged in the work of the IMF's Executive Board through the period of the global financial crisis and the ongoing Euro area sovereign debt crisis.

The release said that his book "The Global Economic Crisis through an Indian Looking Glass" vividly captures this experience.

He has also published papers in the areas of inflation, monetary policy, international trade and finance, including exchange rates and the balance of payments.

A fellow of the Harvard University where he undertook post-doctoral research in the area of financial stability, he has a PhD in Economics from the Indian Institute of Technology, Mumbai.

He will hold the post for three years or until further orders. The post fell vacant after Viral Acharya resigned on July 23 last year.

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News Network
January 8,2020

Dubai, Jan 8: Iranian state television said on Wednesday that at least 80 "American terrorists" were killed in attacks involving 15 missiles Tehran launched on US targets in Iraq, adding that none of the missiles were intercepted.

State TV, citing a senior Revolutionary Guards source, also said Iran had 100 other targets in the region in its sights if Washington took any retaliatory measures. It also said US helicopters and military equipment were "severely damaged".

Iran launched missile attacks on US-led forces in Iraq in the early hours of Wednesday in retaliation for the US drone strike on an Iranian commander whose killing has raised fears of a wider war in the Middle East.

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