1. Wipro the first Indian company to set up European Work Council
Tags: Economy/Finance International News
The Indian IT giant company Wipro has reached an agreement with its employee representative to set up a European Works Council (EWC). It has become the first Indian company to set up an European works councils for its workers in Europe.
The 27 member European Union has mandated the companies which have more than 1000 employees across the European Union countries to set up EWC. Wipro which is in the business of IT (Information Technology)outsourcing has more than 1000 employees in the 13 European Union member countries.
European works councils (EWCs) are standing bodies that facilitate the information and consultation of employees in Europe. It provides an opportunity to employees of the company to be informed and consulted on the transnational companies’ strategy and status.
The first meeting of the Wipro EWC will take place in the first quarter of 2024 where the EWC will elect its chairman and select committee members.
WIPRO
It is a diversified Indian multinational company.
It was set up as Western India Vegetable Products limited company by Mohamedhusain Hasham Premji in 1945. It later changed its name to WIPRO and diversified in the business of Information Technology under Azim Premji.
It is now one of the top IT companies of India which is present in more than 100 countries of the world.
Chairman: Rishad Premji
Headquarters: Mumbai
2. G-7,EU,NATO holds emergency meeting on Russia Ukraine Conflict
Tags: International News
In an unprecedented move the Western countries leader held an extraordinary summit meeting in Brussels, Belgium on 24 March 2022 to put pressure on the Russian President Vladimir Putin to end the war in Ukraine.
The Group of 7 or G-7 ,European Union (EU) and North Atlantic Treaty Organisation (NATO ) was held back to back on 24 March 2022.
The three back to back summit meeting which was attended by the President of Joe Biden is an attempt by the western countries to show solidarity to Ukraine and to present a united stand against Russia.
Highlights of the meeting
NATO leaders agreed to help Ukraine protect itself against any chemical, biological or nuclear attacks by Russia.
NATO, which has already increased its troop deployment to 40,000 along the eastern border of Russia from the Baltic to the Black Sea, has agreed to set up new combat units in Bulgaria, Romania, Hungary and Slovakia.
The alliance also warned China not to support Russia’s war effort or to take any actions that will help Russia circumvent the western sanctions on Russia.
NATO turned down Ukrainian requests to defend Ukraine's skies by imposing a no-fly zone and said again, it will not send troops to Ukraine for fear of being dragged into a full-on military confrontation with nuclear-armed Russia.
EU Meeting
At the European Union summit meeting ,the United States promised to supply the EU with 15 billion cubic metres more of liquefied natural gas this year than had been planned before so as to curb the European bloc's reliance on Russian gas.
Russia supplies 40% of the EU's gas needs and more than a quarter of its oil imports. Those most dependent on this supply - in particular Germany - are reluctant to take a step that would have a major economic impact.
President of Ukraine, Volodymyr Zelenskyy also addressed the leaders via videoconference.
Russia does not want Ukraine to become a member of either the European Union or NATO. It fears if Ukraine joins these western blocs then the security of Russia will be compromised.
Important for Exam
European Union
It is a political and Economic group of 27 European countries .
The European Economic Community was launched in 1957 and it became the European Union in 1993 with the adoption of the Maastricht Treaty.
Member countries of EU : Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain and Sweden.
Headquarters of the European Union : Brussels
G-7 or Group of Seven countries
The G7 (Group of Seven) is an organisation of the world's seven largest advanced economies, which dominate global trade and the international financial system.
They are Canada, France, Germany, Italy, Japan, the United Kingdom and the United States.
Russia joined in 1998, creating the G8, but was excluded in 2014 for its annexation of the Crimea region of Ukraine .
It has no permanent secretariat .
The 2021 summit meeting was held in England
The 2022 summit meeting will be held in Germany .
