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Online hiring activities for white collar jobs declined in April compared to the year-ago period amid a challenging environment for businesses, according to a report. The report also suggested that despite economic uncertainties, hiring activities among startups have significantly increased in April. While there has been a 6 per cent decline in e-recruitment for white collar jobs in April, compared to the same month last year, the market for new and emerging job roles was up, according to foundit <keyword id="15764562" type="General" weightage="100" keywordseo="insights-tracker" source="Orion">Insights Tracker</keyword> (fIT). "The current global economic uncertainties have created a challenging environment for businesses, forcing them to navigate a rapidly changing environment. Although hiring has declined, there are still a plethora of job opportunities in emerging industries for job seekers," foundit (previously Monster APAC and ME), a Quess company, CEO <keyword id="12137505" type="General" weightage="50" keywordseo="sekhar-garisa" source="Orion">Sekhar Garisa</keyword> said. He said the Indian startup ecosystem has taken a turn, exhibiting resilience in hiring intent despite the prevailing job market challenges. "While we expect cautious hiring sentiments to persist, we remain optimistic about job opportunities for candidates, particularly as startups continue to propel the demand for talent and innovation," <keyword id="13638247" type="General" weightage="80" keywordseo="garisa" source="Orion">Garisa</keyword> added. Foundit Insights Tracker is based on data on its platform from April 2022 to April 2023. In the startup ecosystem, while edtech was among the top 5 industries hiring, the sector held a much larger share last year, the report said. Other segments such as BFSI/fintech, and media and entertainment also accounted for considerable demand in the startup hiring space, it stated. On the other hand, healthcare and BPO startups showed a negative hiring intent, it added. Job postings by startups have been driven by increased hiring across metros, and robust hiring has also been noted for remote roles. <keyword id="6354321" type="General" weightage="50" keywordseo="bengaluru" source="Orion">Bengaluru</keyword> (33 per cent) accounted for the highest share of startup jobs, and Delhi, Mumbai and Pune also hosted notable demand trends, it added. Meanwhile, the report revealed that the retail sector has grown 22 per cent Year-on-Year (<keyword id="63194" type="General" weightage="80" keywordseo="yoy" source="Orion">YoY</keyword>), which is encouraging for job seekers in emerging industries. The report noted that e-commerce has contributed significantly to this growth, with India now home to some of the largest online retailers. This expansion has increased demand for skilled professionals on the shop floor, providing ample opportunities for retail job seekers, it said. Furthermore, hiring in travel and tourism has also experienced a growth of 19 per cent YoY, as domestic and international travel spiked this summer, it stated. The telecom sector's job market grew by 14 per cent YoY, putting it among the top three most actively hiring sectors, the report said. It also added that cybersecurity professionals are in high demand attributed to the increasing dependence on technology and digital platforms, which has consequently led to a rise in cyber-attacks and data breaches. Other sectors that have shown growth momentum annually include NGO/social services (11 per cent), advertising, market research and public relations (7 per cent), oil/gas (3 per cent) and shipping/marine (2 per cent). However, on the downside, BFSI (4 per cent) and BPO/ITES (13 per cent) sectors continued to witness a decline in hiring as companies watched their spends on talent acquisition. Other sectors like healthcare, biotechnology and life science (16 per cent), import/export (19 per cent), agro-based industries (20 per cent) and IT-hardware/software (22 per cent) also saw a significant decline in their hiring patterns in April compared to the year-ago period. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/resurgent-kkr-face-struggling-rajasthan-royals-aim-to-break-into-top-4/articleshow/100124037.cms">Resurgent KKR face struggling Rajasthan Royals, aim to break into top 4</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/nclt-admits-go-firsts-plea-to-initiate-insolvency-resolution/articleshow/100123886.cms">NCLT admits Go First's plea to initiate insolvency resolution</a>

Hiring for white collar jobs online declined in April says foundit Insights Tracker

Petrol pumps and LPG retail outlets based in Bengaluru and other urban areas of Karnataka might be mandatorily asked to obtain a No Objection Certificate (NoC) from the oil marketing companies in case they want to switch businesses. 
 
This means that oil companies too will need to approve the changes that the landlord decides in using the land. It was after the ministry of petroleum and natural gas sent a letter to the urban development department, asking it to treat retailing of petrol, diesel and LPG as essential activities that the department sent a circular to this effect to BDA and other state authorities. 
 
The new rule only applies to outlets that are affiliated to public sector oil marketing companies, leaving private retail outlets untouched. 
 However, the new rule has not met the consent of <keyword id="3511610" type="UNKNOWN" weightage="100" keywordseo="IT-Bangalore-Petroleum-Dealers-Association">IT Bangalore Petroleum Dealers Association</keyword>, which has expressed its grief. 
 
Association president BR Ravindranath said that the pumps are closing down because the landlords don't want to renew the lease keeping in mind the poor rentals that these state-run oil firms pay. 
 
"They want to pay peanuts for the land they get. Instead of making rentals attractive, they come up with irrational rules such as this infringing upon the fundamental rights of citizens," he told <a href="http://economictimes.indiatimes.com/industry/energy/oil-gas/noc-must-if-fuel-pumps-want-to-switch-business/articleshow/53374645.cms">ET</a>. 
 
"The oil marketing companies are making no efforts to retain the landlords, and as a result, more than a dozen pumps have closed down in the past two years," he added. 
 
<a href="http://blog.sajithm.com/wp-content/uploads/2008/07/20080703_132213.jpg">Image source</a>

Karnataka govt brings new rule for petrol pump owners, mandates NOC for switching businesses

<ul><li>India’s benchmark equity index has a new record high led by <keyword id="82905" type="General" weightage="20" keywordseo="metal-stocks" source="Orion">metal stocks</keyword>, public sector banks and drug makers.</li><li><keyword id="66115" type="General" weightage="20" keywordseo="nifty-50" source="Orion">Nifty 50</keyword> added more than 1,000 points in less than a month. The index reached 17,000 points on Tuesday from 15,855 points on August 2.</li><li>Check out the latest market news and updates on <a href="https://www.businessinsider.in/">Business Insider</a>.</li></ul>It took less than a month for Nifty 50, India’s benchmark equity index, to climb to 17,000 from 16,000. The index of India’s top fifty stocks was at 15,855 on August 2. The biggest gainers on the Nifty were Adani Ports, Bajaj Finserv, and Indian Oil Corporation (IOC), followed by <keyword id="6354287" type="General" weightage="20" keywordseo="bharti-airtel" source="Orion">Bharti Airtel</keyword>, which surged more than 2% as investors cheered the proposed ₹21,000 crore rights issue. Adani Group stocks topped the list of gainers on the Nifty 200. Aside from being a new high, this is also the fastest 1,000 point gain for the index, according to news channel CNBC-TV18. BSE Sensex, too, scaled above 57,143 at 12:30 p.m., on August 31. The latest leg of the rally was fuelled by a fresh wave of buying by foreign portfolio investors after the US Federal Reserve seemed to be less fearful of rising inflation at home. Net buying by foreign institutional investors (FIIs) stood at ₹1,202.81 crore (around $1.6 million at current exchange rates), while domestic institutional investors (DIIs) net bought shares worth ₹688.85 crore, as per provisional data from the National Stock Exchange (NSE) on August 30. This also allowed the rupee to hit its highest level against the dollar today (Aug 31). Information technology (IT), banks, metals and pharmaceutical stocks saw good buying in the month of August. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Top 5 gainers on Nifty 50 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">% change </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Top 5 losers </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">% change </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports and SEZ </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2.59% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-1.28% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bharti Airtel </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2.35% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Nestle India </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-0.85% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Indian Oil Corp </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2.33% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-0.75% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finserv </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2.37% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Reliance Industries </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">0.63% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1.97% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Britannia </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">0.54% </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/bengaluru-based-studio-sirah-develop-india-first-mobile-games-kurukshetra-ascension/articleshow/85787656.cms">Bengaluru based Studio Sirah raises $830,000 to develop India-first mobile games — ‘Kurukshetra: Ascension’ will be the first title</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/ami-organics-wants-to-become-debt-free-post-the-ipo/articleshow/85781458.cms">Ami Organics wants to become debt-free post the IPO, to cut dependence on China in the coming years</a>

Nifty tops 17,000 points to set a new record ⁠— the fastest 1,000 point rally in the history of India’s benchmark index

<ul class="summary-list"><li><keyword id="46107" type="CITY" weightage="60" keywordseo="Exxon-Mobil">Exxon Mobil</keyword> lost $20 billion in the final quarter of 2020, the <keyword id="6359072" type="UNKNOWN" weightage="60" keywordseo="oil">oil</keyword> giant said Tuesday. </li><li>The coronavirus pandemic hammered energy prices around the world. </li><li>It's the company's first-ever loss as a public company. </li></ul>Top US oil producer Exxon Mobil on Tuesday <a href="https://corporate.exxonmobil.com/Investors/Investor-relations/Quarterly-earnings#2020">posted</a> its first annual loss as a public company as the COVID-19 pandemic hammered energy prices and it reduced the value of its shale gas properties by more than $20 billion in the fourth quarter.Exxon cut up to 15% of its workforce and delayed oil and gas projects after accepting oil and gas prices could remain below $60 a barrel for years. It added $22 billion to its debt last year to cover its dividend and project spending.The company reported a net annual loss of $22.44 billion for 2020, compared with a full-year profit of $14.34 billion in 2019."The past year presented the most challenging market conditions ExxonMobil has ever experienced," CEO Darren Woods said in a press release. Structural changes and cost savings should amount to $6 billion per year by 2023, he added. Exxon posted four straight quarters of losses in 2020 and is under fire from activist investors pushing for board changes and a better strategy for a global transition to cleaner fuels.On Tuesday it named former Petronas President Tan Sri Wan Zulkiflee Wan Ariffin to its board of directors, and said it was in discussions with other candidates.(Reporting by Jennifer Hiller in Houston and Shariq Khan in Bengaluru; Editing by Sriraj Kalluvila)

Oil giant Exxon Mobil reported a $20 billion loss to close out its 'most challenging' year ever

<ul><li>Shell, the gas ‘super major', opens its first ever research lab in India. </li><li>This is the first time that Shell is building a team of technical experts in India, though it invests nearly $1 billion on research. </li><li>India is an important market for any oil company since it represents the world's third largest demand for <keyword id="6447139" type="UNKNOWN" weightage="20" keywordseo="Lubricants">lubricants</keyword>. </li></ul>Shell, one of the world's largest oil companies, is opening its first ever lubricants lab in Bengaluru, India. And, the company brought in 15 technical experts to form a team that will work with manufacturers in India and around the world. These scientists will work with Shell's partner to engineer and develop new solutions that increase efficiency. <div type="ExtQuote" text="The lubricants laboratory is an important milestone in our journey to serve our customers better, accurately matching their requirements. In addition to serving OEMs, this laboratory will also enable us in developing performance data of Shell branded products relevant to Indian customers." auname="Mansi Tripathy, Country Head, Shell Lubricants India"></div>

 The new lab will be a key factor in supporting Shell's business development and building on feedback from Indian consumers and manufacturers. Cracking open Shell's India story Despite being a gas ‘super major' and being in India for over 70 years, the company has around 5% market share in lubricants India. By the company's <a href="https://www.shell.in/media/shell-in-the-news/we-are-at-the-top-globally-our-ambition-is-to-become-no-one-in-india.html">own admission</a> one of the main barriers to entry is the price-sensitive nature of regional players, and the dominance of government-owned companies in the field. Globally, Shell invests around $1 billion into <keyword id="73655" type="ORGANIZATION" weightage="20" keywordseo="Research-and-Development">research and development</keyword> and has around 1,300 patents to its name. In India, it wants to build on the 20% CAGR growth that it has seen over the past five years by increasing its research efforts in the country. The plan is for the lab to help Shell's partner manufacturers improve the efficiency and reliability of their products using a combination of data analysis and new technology. <div type="ExtQuote" text="OEM (original equipment manufacturer) partnerships are the main pillars of our technology leadership. At Shell, we are significantly investing in the R&amp;D of lubricants that help us pioneer solutions to support the evolving needs of OEMs and customers." auname="Mansi Tripathy, Country Head, Shell Lubricants India"></div>

 India's an important market for Shell corner since it represents the world's third largest market for lubricants. Opening the lab in India not only ups the ante in India but builds inroads for Shell's other global partners. See also: <a href="https://www.businessinsider.in/indias-government-is-asking-its-largest-oil-company-to-sell-fuel-below-global-prices/articleshow/64300993.cms">India's government is asking its largest oil company to sell fuel below global prices</a> <a href="https://www.businessinsider.in/indians-will-have-to-deal-with-higher-oil-prices-as-polling-ends-and-global-supply-remains-curtailed/articleshow/69410192.cms">Indians will have to deal with higher oil prices as polling ends and global supply remains curtailed</a> <a href="https://www.businessinsider.in/the-worlds-largest-oil-company-is-setting-up-a-refinery-in-india-despite-farmer-protests/articleshow/64745899.cms">The world's largest oil company is setting up a refinery in India, despite farmer protests</a>

Here's why a global oil giant hired 15 Indian scientists

<ul><li>India's Silicon Valley is headed to the polls today and unemployment is one of their main concerns. </li><li>It's not only the IT industry but also the small enterprises that have been hit by demonetisation and India's revamp of its tax system. </li><li>Bengaluru's transformation to an industrial hub hasn't been without its cost with the city's burgeoning environment pollution problem.</li></ul>Bengaluru, known as India’s Silicon Valley and home to two of the biggest IT companies in India — Infosys and <a href="https://www.businessinsider.in/wipro-phishing-attack-computer-system-hacked/articleshow/68918449.cms">Wipro</a> — goes to the polls today representing 17% of Karnataka’s population. Amid the rapid changes in technology and the United States <a href="https://www.businessinsider.in/us-immigration-denial-of-h1-b-visas-raises-legal-questions/articleshow/68844794.cms">tightening</a> immigration laws, the sheen from India’s IT hub has dulled. Between 2016 and 2018, at least five million people lost their jobs in India according to a <a href="https://in.reuters.com/article/india-election-jobs/five-million-lost-jobs-in-india-between-2016-and-2018-report-idINKCN1RT1I3">report</a> by the Azim Premji University reporting unemployment increase in the formal and informal sectors of the economy. India is already looking at the highest unemployment rate in 45 years according to <a href="http://v">reports</a> and its effect is not lost on Bengaluru even with the <a href="https://www.financialexpress.com/industry/here-are-jobs-hiring-rises-by-15-bangalore-tops-check-where-delhi-mumbai-stand/1487202/">highest</a> hiring rate in the country. <a href="https://www.teamleasegroup.com/resources/reports/19">According</a> to TeamLease’s Employment Outlook, Bengaluru has been categorised as an employment ‘laggard’ with its employment outlook falling two percentage points in 2018. Waning job growth after demonetisation and the implementation of the General Goods and Services Tax (GST), Bengaluru is far from the day when it saw job spurts across the board for technical and blue-collar positions — starting from state run companies like India Telephone Industries Limited (ITI), Hindustan Aeronautics Limited (HAL), Bharat Electronic Limited (BHEL), and Bhart Earth Movers Limited (BEML). 
 <div type="ExtQuote" text="One must remember that a significant number of voters come from outside Karnataka. In the IT sector, at best 65% of the people are locals and 35% are from outside. So it is quite possible that they cannot go back to their places to vote, while some may have gone back to vote. So I would not worry too much about voter turnout being only 55%." auname="Indian IT industrialist and co-founder of Infosys, NR Narayana Murthy"></div>

 Changes in technology As technology gets more complex with the rapid implementation of artificial intelligence (AI) and machine learning (ML), so does the <a href="https://www.nasscom.in/system/files/secure-pdf/the-future-of-me_0.PDF">gap</a> of technical and non-technical skill requirements required for the sector. So, it's not that the jobs don’t exist in Bengaluru — there’s actually an increasing demand for highly skilled technical management jobs that offer <a href="https://timesofindia.indiatimes.com/city/bengaluru/bengaluru-pays-the-highest-salaries-in-india-study/articleshow/66743965.cms">high</a> salaries — but more, that people aren’t equipped with the correct skill sets for employment. The bigger issue boils down to the quality and content of educational institutions where the <a href="https://www.facilities.aicte-india.org/dashboard/pages/dashboardaicte.php">placement rate</a> of engineering and management schools was its highest at 30% between 2012 to 2018, according to AICTE’s online data dashboard. It’s not just Bengaluru that has jobs on its mind. It’s the <a href="https://www.businessinsider.in/lok-sabha-elections-2019-pew-research-report-on-key-election-issues/articleshow/68572903.cms">number one</a> issue for Indian voters as they participate in the world’s largest democratic exercise according to a report by the Pew Research Center (PRC). Lingering effects of demonetisation Demonetisation has been particularly hard for the citizens in Peenya, one of the biggest industrial areas in Asia located in northwest Bengaluru — and primary depends on cash for its transactions. It’s home to more than 6,000 small businesses, employing over 800,000 people and generation ₹120 billion ($1.72 billion) in revenue, according to Peenya Industries Association. Even Bengaluru’s realty market is only just <a href="https://bangaloremirror.indiatimes.com/bangalore/others/realty-market-rises-from-demonetisations-ashes/articleshow/63523111.cms">starting</a> to recover from the effects of demonetisation where property <a href="https://news.housebolo.com/demonetisation-impact-bangalores-property-markets-takes-a-hit/">registrations</a> dipped from 1,800 per day to 200 per day. Startups <a href="https://inc42.com/features/indian-startup-shutdowns-2017/">came</a> under the gun as well, especially the e-commerce segment. Bigger startups like Flipkart and Zomato, both based out of Bengaluru, had to <a href="http://v">figure out</a> how to make up for the fact that 60 to 70% of their orders were cash-on-delivery transactions. Choking on industrial waste While industries in Bengaluru have thrived over the past couple of years, it has not been without its cost. The city’s Bellandur Lake and Vrishabhavathi River have been in the news for all the wrong reasons. The Bellandur Lake was seen spewing a 10-feet high wall of toxic foam that seeped on to the roads and bridges. 
	
 
 
 <div type="image" title="d7bc57be0e0a6a0fb56b45acb0836c51" msid="68930987" hostid="261" caption="&amp;lt;p&amp;gt;The 10 feet of foam on Bellandur Lake in Bengaluru in 2016&amp;lt;/p&amp;gt;"></div>









 Rashmi Mandanna, a south Indian actor, even did an underwater photoshoot at the lake to draw awareness the increasing problem of water pollution. 
	
	
	
	<div type="twitter" handle="iamRashmika" handlename="Rashmika Mandanna" image="http://pbs.twimg.com/profile_images/1048058166737608704/hcxNROBl_normal.jpg" favoritecount="12895" retweetcount="2839" status="This was a photoshoot regarding awareness for the water pollution by this wonderful team Creative Director :… https://t.co/CiRvenS0Ua" createdat="1544704656000" id="1073195228603928577"></div>









 The Peenya Industrial Belt, with more than 7,500 industries — including the Peenya, Yeshwanthpura, Rajajinagar, Jalahalli, Goraguntepalya and Dasarahalli industrial areas — has also been called into question for polluting the Vrishabhavathi River and the lakes within its catchment area. One of lakes, Nelagadaranahalli Lake, is even <a href="https://www.thenewsminute.com/article/how-bengaluru-s-peenya-industrial-area-has-choked-and-killed-its-surrounding-lakes-90116">speculated</a> to be more toxic than Bellandur Lake. The problem seems to be on the rise despite corporates facing penalties <a href="https://www.downtoearth.org.in/news/pollution/ngt-makes-polluters-pay-nearly-double-so-far-this-year-than-whole-of-2018-63927">amounting</a> to ₹750 million ($10.8 million) within the first quarter of 2019 for water pollution in Karnataka from National Green Tribunal (NGT). The issue of the city’s lakes being polluted also fuels the resultant water crisis in the city. Citizens <a href="http://www.newindianexpress.com/cities/bengaluru/2019/mar/26/water-and-traffic-issues-bog-down-it-showcase-of-bengaluru-1955879.html">claim</a> that the water was crystal clear and used for drinking and agricultural activities. But despite these issues, the biggest <a href="https://economictimes.indiatimes.com/news/elections/lok-sabha/india/decoded-the-concerns-and-aspirations-of-the-urban-electorate-in-seven-indian-cities/articleshow/68868018.cms">challenge</a> is going to be getting voters to come out and participate in a city that has consistently recorded a low voter turnout. The Bharatiya Janata Party (BJP already paid the price for some of these issues by losing its opportunity to win during the Karnataka’s State Assembly Elections in 2018. But, the Janata Dal (Secular) and Congress alliance that replaced the government has been <a href="https://www.news18.com/news/politics/dissidence-in-some-lok-sabha-seats-over-jds-alliance-says-congress-2078551.html">facing dissidence</a> in certain constituencies, hampering their prospects. See also: <a href="https://www.businessinsider.in/lok-sabha-elections-2019-pew-research-report-on-key-election-issues/articleshow/68572903.cms">5 charts that tell you what India cares about ahead of 2019 elections</a> <a href="https://www.businessinsider.in/lok-sabha-election-2019-second-phase-political-strategy-for-reserved-seats/articleshow/68925204.cms">Nearly a quarter of the seats in the Lok Sabha are “reserved” and they matter a lot in this election</a> <a href="https://www.businessinsider.in/politics/elections/lok-sabha-elections-2019-second-phase-of-polling-in-tamil-nadu-voters-issues/articleshow/68930595.cms">Tamil Nadu’s angry voters have a small oil field, a big highway, a medical entrance test, and a police shootout in mind</a>

Job losses will haunt Bengaluru, India’s Silicon Valley, as it goes to polls today

<ul><li><keyword id="1185141" type="COMPANY" weightage="20" keywordseo="Hardcastle-Restaurants">Hardcastle Restaurants</keyword>, the company that owns and operates McDonald's franchises in western and southern India, announced that they will recycle used cooking oil to produce <keyword id="824755" type="PERSON" weightage="20" keywordseo="Biodiesel">biodiesel</keyword> that will fuel its supply delivery trucks.</li><li> 85 restaurants in <keyword id="6358070" type="DEFINITION" weightage="20" keywordseo="mumbai">Mumbai</keyword> are already converting 35,000 litres of regular oil into biodiesel every month. </li><li>The company plans to bring all their 277 outlets under the recycling programme.</li></ul> Hardcastle Restaurants, the company that owns and operates McDonald's franchises in western and southern India, has <a href="https://economictimes.indiatimes.com/industry/services/hotels-/-restaurants/mcdonalds-to-power-its-trucks-by-recycling-used-cooking-oil/articleshow/65102541.cms">initiated</a> a novel project to help reduce the company’s <keyword id="6404408" type="UNKNOWN" weightage="20" keywordseo="Carbon-footprint">carbon footprint</keyword> in India. The company announced on Monday that they will recycle the cooking oil used in making its food items to produce biodiesel that will fuel its supply delivery trucks. Last year, Hardcastle Restaurants along with Unicon Biofuels, piloted the project in Mumbai. In fact, 85 restaurants in Mumbai are already converting 35,000 litres of regular oil into biodiesel every month. Next, it plans to replicate this in Bengaluru and eventually, according to Vikram Ogale, director, supply chain and quality assurance, Hardcastle Restaurants (HRPL), the company plans to bring all their 277 outlets under the recycling programme. Ogale claims that the fuel generated by converting cooking oil is believed to have 75% lower carbon emissions than diesel over its entire lifecycle. Sandeep Chaturvedi, president of the Biodiesel Association of India, said that this conversion of used cooking oil to biodiesel has been done in adherence with the Bureau of Indian Standards (BIS). He also urged other companies to follow suit and help reduce the burden on the environment. This initiative is, however, not unique to India. In fact, McDonald's UAE launched the first such project way back in 2011. And in June 2018, seven years after the launch, <keyword id="25643" type="PERSON" weightage="20" keywordseo="McDonalds">McDonald’s</keyword> UAE announced that its logistics fleet of biodiesel delivery trucks had clocked a staggering <a href="https://www.zawya.com/mena/en/story/Recycled_frying_oil_fuels_10millionkm_journey_to_improve_local_air_quality__McDonalds_UAE-ZAWYA20180627092936/">10,000,000 kilometres</a> since the launch of the project. Thereby significantly reducing the company’s carbon footprint. In fact, using this fuel is believed to have saved 8,563 tonnes of carbon dioxide.

McDonald’s is to fuel its delivery trucks with biodiesel made from used cooking oil

Global energy giant <keyword id="46532" type="COMPANY" weightage="80" keywordseo="Shell">Shell</keyword> has chosen <keyword id="6354321" type="CITY" weightage="80" keywordseo="Bengaluru">Bengaluru</keyword> for setting up its largest captive unit or global offshore delivery centre. The unit would provide more than 5,000 jobs in the Silicon Valley. 
 

	As per an Economic Times report, the new in-house global information technology centre, The Shell IT Centre Bengaluru, would be used to provide IT services to Shell's businesses including upstream oil and gas production, marketing and other projects. 
	 

	"The company has a large IT set-up in Malaysia, US and UK and will be moving all its global IT jobs to Bengaluru," said two people in direct knowledge of the development. 
	 

	In an email response the company confirmed the move and said: "We believe that India's significant IT talent will improve our ability to provide top-quality IT project delivery and selected operations support around the world.” 
	 

	Shell further added: "We anticipate no direct impact to Shell staff in 2015 as a result of this proposed change. Beyond then, given our strategic intent, it is expected that some impact on staff is likely as a result of this activity. We do not yet know the extent of this impact." Shell would acquire a 3, 50,000 sq. ft. space in <keyword id="1083300" type="ORGANIZATION" weightage="80" keywordseo="RMZ">RMZ</keyword> Eco World in the first phase. Finally, the energy giant plans take up 8, 00,000 sq. ft by 2018 to provide IT support to all its business verticals. "The deal between RMZ and Shell was closed on Thursday, <keyword id="6354553" type="COMPANY" weightage="60" keywordseo="real-estate">real estate</keyword> services firm, <keyword id="6376943" type="COMPANY" weightage="80" keywordseo="CBRE">CBRE</keyword>, was running the transaction. The proposed special economic zone building is currently under construction," said one of the persons. RMZ Eco World houses multinational companies like <keyword id="50041" type="CITY" weightage="80" keywordseo="KPMG">KPMG</keyword>, SAP, <keyword id="48670" type="CITY" weightage="80" keywordseo="Morgan-Stanley">Morgan Stanley</keyword>, ANZ and <keyword id="43706" type="COMPANY" weightage="80" keywordseo="Honeywell">Honeywell</keyword>, among others. It is located on Bengaluru's Sarjapur outer ring road. 
	 

	Meanwhile, the offshore delivery centers of multinational companies (MNCs) act as technology and business process centers for their global operations. 
	 

	Shell, the largest oil &amp; gas company in the world also operates a Business Operations Centre in Chennai that provide financial and business support to its companies worldwide. It has over 2,000 people working in Chennai. According to experts, Bengaluru has become the favourable center for global in-house centres (GIC) or captive centers for brands like Victoria's Secret lingerie, Lowe and <keyword id="159044" type="COMPANY" weightage="80" keywordseo="Baxter-International">Baxter International</keyword>. The city recorded highest increase in absorption of office space at 3.2 million ft, a 510% increase year-on-year for January to March quarter of 2015. 
	(Image: Reuters)

Coming up! The Shell IT Centre Bengaluru

<p class="headline ellipsify" dir="auto" title="Schlumberger to buy Cameron in $14.8 billion deal" data-text="Schlumberger to buy Cameron in $14.8 billion deal" data-reactid=".1.1.0.1.4.$tag=2reuters=1com,2015=2newsml_KCN0QV12E=21.1.0.0.1"><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><a href="http://investorcenter.slb.com/phoenix.zhtml?c=97513&amp;p=irol-reportsAnnual">Schlumberger</a></div></div></div>(Reuters) - Schlumberger Ltd, the world's No.1 oilfield services company, said it will acquire oilfield equipment maker Cameron International Corp in a deal valued at $14.8 billion.<div class="story" dir="auto" data-reactid=".1.1.0.1.4.$tag=2reuters=1com,2015=2newsml_KCN0QV12E=21.1.0.0.2">Cameron shareholders will get $66.36 - $14.44 in cash and 0.716 of a Schlumberger share - for each share held.The offer represents a premium of 56.3 percent to Cameron's Tuesday close.(Reporting by Sneha Banerjee in Bengaluru; Editing by Savio D'Souza)</div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/sit-work-posture-sitting-desk-standing-health-2015-8">How you sit at work can have a huge impact on your health</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="RwMHFwdjrf1BQAnSxhWeRDL7suDe4B9z" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

It's a $15 billion oil mega-merger

As the banks have levied a 1% transaction fee on card payments at petrol pumps, the dealers are planning to stop accepting plastic money from Monday, which could inconvenience consumers in times of cash shortage and affect the government's move to encourage cashless transactions. 
 
In Delhi, ministry officials said they were unaware of the move by the banks and have asked them to put off the levy till a system of compensating the petrol pump dealers is discussed by all stakeholders- state-run fuel retailers, banks and petrol pump owners. The banks' move wills not target citizens directly as no new charges will be levied on customers using cards, according to a news report by The Times of India. 
 
Stopping card payments and accepting only cash at petrol stations comes at a time when the Centre is pushing for increased non-cash transactions and announced a 0.75% cashback offer on purchase of petrol using plastic money. 
 <keyword id="6653" type="CITY" weightage="20" keywordseo="ICICI-bank">ICICI Bank</keyword>, <keyword id="6357149" type="CITY" weightage="20" keywordseo="HDFC-bank">HDFC Bank</keyword> and <keyword id="6355975" type="CITY" weightage="20" keywordseo="Axis-Bank">Axis Bank</keyword> sent notices to dealers on Saturday night to inform them about the surcharge. ICICI Bank and HDFC Bank account for some 60% of card swipe machines deployed at 52,000 petrol pumps out of the 53,842 public sector fuel retail outlets across the country. There are 56,190 petrol pumps in the country, including those run by private oil companies. 
 Following the notice, pump owners took the decision to stop accepting card payments at a meeting of all petrol pump dealers' associations in <keyword id="6354321" type="CITY" weightage="20" keywordseo="Bengaluru">Bengaluru</keyword> on Sunday. All <keyword id="4041744" type="UNKNOWN" weightage="20" keywordseo="india-petroleum-dealers-association">India Petroleum Dealers Association</keyword> (<keyword id="3198116" type="UNKNOWN" weightage="20" keywordseo="AIPDA">AIPDA</keyword>) president <keyword id="267028" type="PERSON" weightage="20" keywordseo="Ajay-Bansal">Ajay Bansal</keyword> told <keyword id="6371459" type="ORGANIZATION" weightage="20" keywordseo="toi">TOI</keyword> from Bengaluru that all pump owners are firm in their decision to withdraw card swipe machines from intervening midnight of Sunday and Monday. 
 "They (banks) must apologise to the public," B R <keyword id="238043" type="PERSON" weightage="20" keywordseo="Ravindranath">Ravindranath</keyword>, president, Akhila Karnataka Federation of Petroleum Traders and Bangalore Petroleum Dealers Association, told TOI in Bengaluru. 
 
Dealers say the transaction fee by banks will wipe out their profit, which is set by the state-run fuel retailers. Ravindranath claimed the net profit, after deducting all operational costs, stands at at 0.3% to 0.5%. "If the banks straight away levy a 1% transaction fee, where do they expect us to go. It becomes extremely difficult to survive in such circumstances," Ravindranath told TOI.

Petrol pumps may stop accepting
debit and credit card payments from tomorrow

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Courtesy Graviky LabsA mural painted with Air Ink in Hong Kong</div></div></div>For the past few years, teams of researchers have been figuring out how to transform carbon dioxide emissions into <a href="http://www.businessinsider.com/scientist-turned-co2-into-valuable-material-2015-8">diamonds</a>, <a href="http://www.businessinsider.com/scientists-can-now-turn-co2-into-rock-iceland-2016-6">solid rocks</a>, and <a href="http://www.businessinsider.com/promising-new-material-can-convert-carbon-dioxide-into-clean-energy-2016-1">clean energy</a>.Turns out they can also create art from it. <a href="http://www.graviky.com">Graviky Labs</a>, a spinoff group from the MIT Media Lab, developed a way to capture air pollution and make art supplies - pens, oil-based paints and spray paints - from the carbon soot.Appropriately dubbed Air Ink, the materials are created by attaching cylindrical devices to the tailpipes of cars, trucks, and motorcycles and capturing the emissions. A device the company calls Kaalink then separates out the carbon as soot, leaving out other polluting agents like heavy metals and carcinogens. The carbon can then be retrieved from the Kaalink to be mixed with oils and water to make paints, inks, and so on. Just 30-50 minutes of car pollution can generate enough purified carbon to fill an Air Ink pen, <a href="http://www.graviky.com/air-ink.html">Graviky Labs claims</a>.The company, which is based Bengaluru, India, partnered with Tiger Beer to commission street artists to create murals using Air Ink in Hong Kong's Sheung Wan district. The collection of inky black-and-white art went up on buildings and malls June 17 - <a href="http://www.air-ink.com/gallery/#story">you can see more</a> images of them on Air Ink's website.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Courtesy Graviky Labs</div></div></div>Anirudh Sharma, one of Graviky Labs' founders, got the idea to create the ink when he noticed his clothes were getting stained from the heavy air pollution in India, according to the <a href="https://spectrum.mit.edu/continuum/an-artful-solution-for-capturing-pollution/">MIT Spectrum</a>. <div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Courtesy Graviky Labs</div></div></div>In February, research from Greenpeace, which used NASA satellite readings of air quality, revealed that <a href="http://www.businessinsider.com/air-pollution-levels-in-india-are-now-higher-than-in-china-2016-2?r=UK&amp;IR=T">India's pollution concentrations overtook Beijing's</a> in 2015. In May, the World Health Organization found that six of the <a href="http://www.businessinsider.com/the-cities-with-the-worlds-worst-air-pollution-who-2016-5/#15-kanpur-india-115-gm3-of-pm-25-1">top 15 most polluted cities</a> in the world were in India.So the country's pollution problem is, of course, too big and complicated to solve by sticking cylinders onto tailpipes and turning all C02 emissions into art materials.But highlighting the issue through artistic expression could at least become one of many ways to work towards a solution. Sharma <a href="http://www.huffingtonpost.in/2016/08/21/this-start-up-claims-to-be-recycling-polluted-air-to-make-ink-an/">tells Huffington Post India</a> that he's planning to bring the inks to market by the end of 2016, after receiving certification for the Kaalink device. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/time-lapse-los-angeles-without-light-pollution-2015-4">Stunning time-lapse shows what LA skies would look like without pollution</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="10YjVsdDpaf94gvfsX1gAY7aRgo4_zkV" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

This company is turning car exhaust into inks and paints

Potholed roads, traffic jams and water crisis are not deterring companies and people to move to Bengaluru. 
 
World’s big brands are eyeing the IT hub due to availability of young, technologically skilled population and Bengaluru has attracted of over $1 billion investment in the past 18 months. 
 
Moreover, India's tech-based startups have either moved or expanded into Bengaluru and the trend is accelerating as the world gets redefined by new technological phenomena such as smartphones, social media, artificial intelligence, et al. 
 
Economic Times reported that Bengaluru accounted for more than a third of the over 1,000 global in-house centres (GICs) -facilities that combine technology development with back-office functions -of MNCs in India. But the spate of new announcements of GICs over the past 18 months suggests a fresh urgency. Some of the proposed investments are massive. 
 
One of the world's biggest companies, US oil and gas major Exxon Mobi, is making a $400-500 million (Rs 2,500 crore-Rs 3,150 crore) investment in Bengaluru to establish a technical and business support services centre. 
 
The financial daily reported that derivatives marketplace CME Group, which handles 3 billion contracts worth approximately $1 quadrillion (that's 1 followed by 15 zeros) annually, is said to be setting up a GIC in Bengaluru. 
 
JCPenny, the American apparel and home furnishing retailer, L Brands, makers of lingerie brand Victoria's Secret, and Lowe's, the US-based home improvement and appliance store chain, have established technology captive centres here recently. 
 
(Image: Indiatimes)

Look what’s driving investors to India’s IT hub, Bengaluru

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>LOS ANGELES (Reuters) - A pipeline ruptured along the scenic California coastline on Tuesday, spilling some 21,000 gallons (79,000 liters) of oil into the ocean and on beaches before it could be secured, a U.S. Coast Guardspokeswoman said.The pipeline, which runs parallel to Highway 101 near Santa Barbara, left a slick extending about four miles (6.4 km) along Refugio State Beach, extending about 50 yards (46 meters) into the water, Petty Officer Andrea Anderson of the Coast Guard said.Anderson said the company responsible for the 24-inch (61- cm) pipeline was identified as Plains All American Pipeline, which had brought in a company to begin cleaning up the spill. Refugio State Beach was closed.The cause of the rupture had not been determined, Anderson said.Richard Abrams, emergency manager for Santa Barbara County, said the Coast Guard, Department of Fish and Wildlife and Santa Barbara County were assisting on the clean-up."We haven't seen any reports of impacts on wildlife but it is in the water so it is impacting the environment," Abrams said.Representatives for Plains All American were not immediately available for comments.(Reporting by Rory Carroll in San Francisco, Nallur Sethuraman in Bengaluru and Dan Whitcomb in Los Angeles; Editing by Lisa Shumaker and Eric Walsh) <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/magma-discovered-yellowstone-national-lava-supervolcano-park-2015-5">Scientists have discovered more magma under Yellowstone's supervolcano</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="plNzN1dDo3WmgskBwS-DzJ0U62Zz19U-" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

You Searched For "bengaluru oil companies" and got 13 results

Hiring for white collar jobs online declined in April says foundit Insights Tracker

PTI

Karnataka govt brings new rule for petrol pump owners, mandates NOC for switching businesses

BI India Bureau

Nifty tops 17,000 points to set a new record ⁠— the fastest 1,000 point rally in the history of India’s benchmark index

Bhakti Makwana

Oil giant Exxon Mobil reported a $20 billion loss to close out its 'most challenging' year ever

Reuters,Graham Rapier

Here's why a global oil giant hired 15 Indian scientists

Prabhjote Gill

Job losses will haunt Bengaluru, India’s Silicon Valley, as it goes to polls today

Prabhjote Gill

McDonald’s is to fuel its delivery trucks with biodiesel made from used cooking oil

Kavita Majumdar

Coming up! The Shell IT Centre Bengaluru

BI India Bureau

It's a $15 billion oil mega-merger

Reuters

Petrol pumps may stop accepting debit and credit card payments from tomorrow

BI India Bureau

This company is turning car exhaust into inks and paints

Clinton Nguyen

Look what’s driving investors to India’s IT hub, Bengaluru

BI India Bureau

A pipeline ruptured on the California coastline and leaked 21,000 gallons of oil into the ocean

Reuters

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