NewsBytes

The Union Cabinet on Wednesday approved a scheme to promote manufacturing of rare earth permanent magnets with an outlay of Rs 7,280 crore. The 'Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnets' was approved at a Cabinet meeting chaired by Prime Minister Narendra Modi. "The scheme will promote manufacturing of rare earth permanent magnets.  The aim is to create capacity of 6,000 MTPA (metric tonne per annum)," Information and Broadcasting Minister Ashwini Vaishnaw told reporters. Rare earth magnets are used in major industries including electric vehicles, aerospace, electronics, medical devices and defence. The scheme envisions allocating the total capacity to five beneficiaries through a global competitive bidding process. Each beneficiary will be allotted up to 1,200 MTPA of capacity. The total duration of the scheme will be 7 years from the date of award, including a 2-year gestation period for setting up an integrated Rare Earth Permanent Magnets (REPM) manufacturing facility, and 5 years for incentive disbursement on the sale of REPM.

The Australian government said young children will be banned from social media next month as scheduled despite a rights advocacy group on Wednesday challenging the world-first legislation in court. The Sydney-based Digital Freedom Project said it had filed a constitutional challenge in the High Court on Wednesday to a law due to take effect on December 10 banning Australian children younger than 16 from holding accounts on specified platforms. Communications Minister Anika Wells referred to the challenge when she later told Parliament her government remained committed to the ban taking effect on schedule. “We will not be intimidated by legal challenges. We will not be intimidated by Big Tech. On behalf of Australian parents, we stand firm,” Wells told Parliament. Digital Freedom Project president John Ruddick is a New South Wales state lawmaker for the minor Libertarian Party.

Chief Election Commissioner Gyanesh Kumar is all set to assume the Chair of the International Institute for Democracy and Electoral Assistance (International IDEA) for the year 2026, the Election Commission said on Wednesday. Kumar will take over as the chair of IIDEA on December 3 in the meeting of the council of member states of International IDEA to be held in Stockholm. As Chair, he will be presiding over all council meetings during 2026. International IDEA, established in 1995, is an inter-governmental organisation committed to strengthening democratic institutions and processes across the world. With a current membership of 35 countries and the United States and Japan as observers, the organisation promotes inclusive, resilient and accountable democracies. India, a founding member of IIDEA, has consistently contributed to the organisation's governance, democratic discourse and institutional initiatives. So far, IIDEA has signed MoUs with 28 countries and has also trained 3,169 officials from nearly 142 countries.

The definition of loyalty has evolved with the workforce and today's professionals seek purpose, flexibility and consistent growth over long-term stability, says a report. According to a report by staffing and HR solutions provider Genius HRTech (formerly known as Genius Consultants), a significant percentage of professionals said loyalty is outdated and adaptability matters more when asked to define 'career loyalty'. The Genius HRTech report is based on a survey among 1,607 professionals across sectors in October. "Today's professionals seek purpose, flexibility, and consistent growth rather than longevity alone. For employers, this means reimagining retention strategies; focusing less on tenure and more on trust, recognition, and career progression," Genius HRTech chairman and managing director R P Yadav added. Regarding switching jobs for a slightly higher pay but a similar role, the report found that a large majority (67 per cent) of respondents said they would evaluate the move based on learning and workplace culture. Around 24 per cent admitted they would switch immediately for better pay, while only 9 per cent said they would stay loyal, insisting money alone wouldn't make them move, the report added.