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Top News Today: ASML’s GIFT City Move, Germany’s Growth Fund 2.0, India’s Labor Overhaul & Upbit Hack Fallout
Good morning, tech & business fans! Here’s your quick update on key global developments:
What’s New Today: ASML preps customer support base in GIFT City for Tata’s Rs 91,000-crore fab; Germany’s €1B growth fund 80% deployed, plans second round; India to complete major labor reform by early 2026; Upbit promises full reimbursement after $30M Lazarus hack.
Fast-Track Insights: ASML may expand beyond support office to full facility as Dholera fab nears production; Germany’s fund focuses on growth-stage startups; India merges 29 laws into 4 codes easing hiring and compliance; Upbit halts deposits, probes breach linked to North Korea.
Here’s your rapid rundown of major industry shifts, from semiconductor manufacturing to venture capital, labor laws, and crypto security, shaping markets worldwide today.
ASML Plans Customer Support Base in GIFT City Linked to Tata's Dholera Fab
ASML, the Dutch major in semiconductor equipment, is getting ready to open a customer support office in GIFT City to service Tata Electronics’ upcoming Dholera chip fab. Its executives have visited the region and may later set up a full facility. The Rs 91,000-crore fab, being built with Taiwan's PSMC, aims to start production by December 2026.
Germany’s €1B Growth Fund Nearly Exhausted, Plans 2026 Follow-Up
Some €825 million has been deployed so far across 41 VC funds backing 360 startups, out of Germany’s €1 billion Growth Fund launched in 2023 to boost late-stage startup capital. With 80% of its corpus already utilised, work on a second fund for 2026 has begun in an effort to get in more private and institutional investors to strengthen Europe's tech ecosystem.
India’s New Labor Codes Aim to Boost Jobs and Cut Compliance Burden
India’s labor secretary, Vandana Gurnani, says the country's biggest labor overhaul since 1947-merging 29 laws into four simplified codes-will be complete early next year. The reforms will make it easier to hire and fire workers, simplify compliance, and extend minimum wages and social security to make it more attractive for businesses and attract investment.
Agentic AI Is Quietly Reshaping Data Science Jobs, Cutting Repetitive Work
Agentic AI is transforming data science in a manner that automates processes such as cleaning data, model tuning, and routine reporting. Systems take autonomous actions, and data scientists focus on problem-framing, oversight, ethics, and business impact. Entry-level roles are shifting to higher-value tasks like human judgment, communication, and strategic thinking over technical grunt work.
Lazarus Tied to Upbit Hack, But That Blame Came After a Mystery Drained $30M
The Upbit breach started by an unknown attacker draining several hot wallets and quietly moving funds across chains was only later attributed to North Korea’s Lazarus Group, when South Korea placed blame on them. Upbit has since frozen transactions, promised full reimbursement, and is investigating how the attacker avoided internal controls.
