OneWeb's story is similar to its predecessors: The company began by touting bold plans to deliver low-cost service to billions of people around the globe that still lack reliable Internet access. But as it faced mounting costs and delays while developing its technology, OneWeb shifted its focus to corporate customers, with plans to beam Internet to ships and airplanes. … [Read more...] about Softbank-backed satellite startup OneWeb files for bankruptcy
Startups with social impact
Govinda Rao: This is the mother of all challenges in recent memory. The International Monetary Fund (IMF) says that the 2008 financial crisis comes close, but I think this is much bigger than that. Possibly, one has to go to the times of the Great Depression. Even qualitatively, it’s a very different challenge, because first you have to save lives, then you have to save livelihoods, then you have to meet with other costs like loss of jobs and production, and supply chain disruptions. It’s not just confined to one sector or country; it encompasses the entire economy and the world. So, I think there is no immediate policy instrument that you can put in place because you don’t even know how long the problem will last. The depth of the problem that you are going to face is dependent on the length of the period for which you are going to close down and the extent to which the virus spreads. … [Read more...] about How can India contain the economic impact of COVID-19?
NEW DELHI: As the city remains under preventive lockdown, Delhi discoms have stopped meter reading and physical distribution of electricity bills, the distribution companies under BSES said in a statement on Friday.“On account of the enhanced containment measures and on account of the safety of our consumers and employees, all physical distribution of bills and meter reading is being stopped till further notice. Consumers will be given provisional bills, on the basis of the DERC’s laid down criteria,” a BSES spokesperson said on Friday.The company, which has two discoms BYPL and BRPL under it, has also stalled some services in the wake of the preventive lockdown due to the coronavirus pandemic.“In support of the government’s measures to contain the spread of the COVID 19, some of our services have been curtailed. We would not be registering requests for new connections till further orders. All existing appointments are also being postponed till further … [Read more...] about Lockdown impact: Delhi discoms stop meter reading, physical distribution of electricity bills
Mayor Susan Rennie said the package would focus on the most vulnerable in the community "including those at risk of experiencing homelessness, domestic violence, and people from diverse backgrounds, Aboriginal community members and older people living alone without support". … [Read more...] about Victoria Police to issue fines for breaking coronavirus social distancing rules as cases climb to 685
Provident Fund Nasscom suggested that payment of provident fund and gratuity deposits should be deferred for the duration of the lockdown, and provide an option to employees for a one-time PF opt-out option for the next financial year 2020-21 given that startups are unlikely to be able to provide any salary increments due to subdued business environment. … [Read more...] about COVID-19: Nasscom urges government to defer tax payment, return filing for startups, MSMEs