Friday, May 03, 2024

Business

PhonePe showcases its services powered by UPI at a special event in Nepal

KATHMANDU: PhonePe India on Friday showcased its services powered by the Unified Payments Interface (UPI) platform at a special event held in Nepal.

Bajaj Auto launches new flagship Pulsar at Rs 1.85 lakh

NEW DELHI: Two-wheeler major Bajaj Auto on Friday launched the highly anticipated 'Pulsar NS400Z' in the country at Rs 1,85,000 (ex-showroom).

'Your first & only warning': Founder gets threat from rival firm

NEW DELHI: Sharing a screenshot of the threat received from a CEO of the rival firm, warning not to "poach" employees, the founder of a US-based marketing and sales company, Simple Strat, said: "Instead of being pitch slapped, now LinkedIn comes with threats."

Apple logs strong double-digit growth in India, to produce more in country: Tim Cook

NEW DELHI: Apple registered strong double-digit growth in India in the March quarter this year and the company will continue to expand its operations, the company’s CEO Tim Cook said on Friday, adding that in order to be competitive, they need to manufacture more in India.

What Awaits Turkish Citizenship-by-Investment Program

The Turkish citizenship-by-investment program has been enjoying a high level of popularity in recent years. However, the immigration authorities try to react to the high demand and control the supply. Let’s find out about some nuances of the Turkish economic citizenship program.

Gautam Adani meets new British envoy to India, wishes her to boost bilateral ties

NEW DELHI: Gautam Adani, Chairman of the Adani Group, on Thursday, met Lindy Cameron, the new British High Commissioner to India, and wished her the best in continuing to enhance relations between the two countries.

Mahindra Auto sells 41,008 SUVs in India in April, registering 18 pc growth

NEW DELHI: Mahindra & Mahindra (M&M) on Thursday announced that it sold a total of 41,008 SUVs in the domestic market in April, registering an 18 per cent (year-on-year) growth compared to the same month of last year when it sold 34,694 SUVs.

Microsoft to invest $2.2 bn to fuel Malaysia's cloud, AI transformation

NEW DELHI: Microsoft on Thursday announced to invest $2.2 billion over the next four years to advance new cloud and artificial intelligence (AI) infrastructure in Malaysia.

SK hynix to mass produce industry-leading AI chips this year: CEO

SEOUL: Kwak Noh-jung, CEO of South Korean chipmaker SK hynix, on Thursday unveiled plans to mass-produce, up-to-date high bandwidth memory (HBM) chips with 12 layers in the third quarter, aiming to solidify the company's leadership in the artificial intelligence (AI) memory market amid surging demand.

Decline in battery costs boosting green energy projects: ICRA

NEW DELHI: The sharp decline in battery costs is expected to boost the share of generation from the renewable energy (RE) capacity, including large hydro, to 40 per cent of the all-India electricity generation by FY2030 from less than 25 per cent currently, driven by the large capacity addition under way, credit rating agency ICRA said on Thursday.

10,000 London cabbies sue Uber for millions over taxi-booking rules

LONDON: A group of more than 10,000 black cab drivers is suing Uber after accusing it of breaching taxi-booking rules in London, in a move which could cost the ride-hailing giant more than $313 million.

Girish Mathrubootham steps down as Freshworks CEO, to spend more time in India

NEW DELHI: Girish Mathrubootham, the CEO of Nasdaq-listed company Freshworks, on Thursday announced to step down from his current position and transition into the role of Executive Chairman.

Godrej family to continue joint biz for Vikhroli real estate project in Mumbai

MUMBAI: Godrej & Boyce, the owner-developer, and Godrej Properties, the development manager, announced on Wednesday that the two companies will continue their association for land development in Vikhroli.

FirstCry CEO’s remuneration drops 49 per cent to Rs 8.6 crore a month

NEW DELHI: Supam Maheshwari, Co-Founder and CEO of mother and child care e-commerce platform FirstCry, has seen his monthly remuneration drop at least 49 per cent to Rs 8.6 crore, as per the company’s revised Draft Red Herring Prospectus (DRHP).

Microsoft announces to open its first regional data centre in Thailand

NEW DELHI: Microsoft on Wednesday announced to build a new cloud and artificial intelligence (AI) infrastructure in Thailand, provide AI skilling opportunities for more than 100,000 people, and support the nation's growing developer community.

The 127-year-old Godrej empire split: How it was resolved amicably

NEW DELHI: In the increasingly contentious world of family business splits, the peaceful division of the 127-year-old Godrej empire worth $5.7 billion is a rare occurrence.

Eager to harness AI to bring societal benefit for 'Bharat': OpenAI's first employee in India

NEW DELHI: Sam Altman-run ChatGPT developer OpenAI is eager to contribute to India's artificial intelligence (AI) mission by collaborating with developers, users and policymakers, Pragya Misra, the company’s Public Policy & Partnerships lead in the country, said on Wednesday.

Elon Musk lays off entire Tesla charging network team

NEW DELHI: Elon Musk has disbanded Tesla's charging team in a new layoff round, a move which was unexpected and "surprising to everyone".

NHPC ropes in Norway's Ocean Sun for floating solar technology

NEW DELHI: Public sector hydropower giant NHPC Ltd has signed a Memorandum of Understanding with Ocean Sun, a Norwegian company operating as a technology provider to the floating solar industry.

Elon Musk sacking senior Tesla staff to further reduce costs: Report

NEW DELHI: Elon Musk is firing more people at his electric car company Tesla, after executing layoffs this month that affected 10 per cent of its global workforce, a media report said on Tuesday.

Chinese lucky number behind decision to launch Tesla robotaxi on Aug 8: Musk

NEW DELHI: Elon Musk, who just visited China, said on Tuesday that he chose August 8 as the date to launch the robotaxi because 8/8 is a lucky number in that country.

Indian EV firm BluSmart crosses Rs 500 crore in annual run rate in FY24

NEW DELHI: Homegrown electric vehicle (EV) company BluSmart on Tuesday said it has crossed Rs 500 crore in annual run rate (ARR) in FY24, achieving 102 per cent growth over the previous fiscal year.

Govt to auction another 20 critical mineral blocks soon

NEW DELHI: The government plans to put up another 20-odd critical mineral blocks for auction in the next round by the end of June, Secretary of the Ministry of Mines VL Kantha Rao said on Monday.

I'm a big fan of China, have lots of fans there: Elon Musk

NEW DELHI: Tesla CEO Elon Musk, on his ongoing visit to China, said that he is a big fan of the country and that many people are his admirers there.

With April series having expired, expect markets to turn volatile

NEW DELHI: Markets have a mind of their own and the five trading sessions last week were of a different kind. How markets change colour almost every day, just beats me.

Markets to consolidate in near term

NEW DELHI: Markets are expected to consolidate in the near term as investors focus on Q4 earnings season.

Hyundai, Kia join China's Baidu to develop connected cars

SEOUL: South Korea's top carmaker Hyundai Motor and its affiliate Kia said on Sunday that they have inked an agreement with China's tech giant Baidu to develop technologies for connected cars.

AdaniConneX establishes India's largest sustainability linked financing to raise up to $1.44 billion

AHMEDABAD: In a bid to accelerate digital infrastructure growth in India, AdaniConneX, a JV between Adani Enterprises and EdgeConneX, on Sunday said it has established the country’s largest sustainability-linked financing to raise up to $1.44 billion.

The Third Eye: Efficiency is the new mantra of business

NEW DELHI: Efficiency is classically defined as the measure of productivity per unit of time and is therefore traditionally linked to the ‘work attitude’ of the employee, the quality of management that provides for a strong ‘supervision’, and the system of ‘performance evaluation’ that was expected to be free of personal bias or favouritism.

Generative AI to transform legal tech market with automation

NEW DELHI: Generative AI (GenAI) has tremendous potential for bringing more automation to the global legal technology sector that is likely to reach $50 billion (in value) by 2027, albeit with some riders.

Yes Bank net profit doubles to Rs 452 crore in Jan-March quarter

MUMBAI: Yes Bank on Saturday reported a more than two-fold jump in net profit to Rs 452 crore for the January-March quarter of the financial year 2023-24, compared to Rs 202.43 crore in the same quarter of 2022-23.

Leading IT firms in India lost close to 70K employees in last fiscal year

NEW DELHI: Amid the muted revenue growth in the Indian IT services sector due to global macroeconomic headwinds, leading IT companies saw a drop of nearly 70,000 employees in the last fiscal year (FY24).

We need time in life to stop & smell the roses: Anand Mahindra

NEW DELHI: Sharing a video showing scenic views from Kalsubai Peak (a mountain in Maharashtra), Mahindra Group Chairman Anand Mahindra on Saturday said that one should definitely take the time out of their busy schedule to enjoy or appreciate the beauty of life.

Foreign e-commerce players circumventing rules to capture Indian market: CAIT

NEW DELHI: Foreign e-commerce players like Amazon and Walmart-owned Flipkart are circumventing rules and laws in their relentless pursuit of capturing the Indian market, often resorting to unethical business practices, Praveen Khandelwal, Secretary General, Confederation of All India Traders (CAIT) and a BJP candidate for Lok Sabha, said on Saturday.

Will pause ad sharing for creators using bots to earn more on X: Musk

NEW DELHI: Elon Musk on Saturday threatened that advertisement revenue sharing will be paused for some creators “pending investigation into use of bots to spam likes, replies and direct messages (DMs)."

Indian startups file 83,000 patents in FY23; AI, neurotechnology lead

NEW DELHI: Led by artificial intelligence (AI), Internet of Things (IoT) and neuro-technology, India witnessed 83,000 patents being filed by deep-tech startups in FY2023, marking an annual growth rate of 24.6 per cent which is highest since the last two decades, a Nasscom report showed on Friday.

DoT warns people against scammers posing as MS Dhoni

NEW DELHI: Amid the ongoing cricket fever in the country, scamsters have been posing as Mahendra Singh Dhoni to con people on social media, the Department of Telecom (DoT) said on Friday, warning people against falling into the trap.

Homegrown Boult aims Rs 1,000 crore in revenue this fiscal year: Co-founder

NEW DELHI: Homegrown wearable brand Boult has clocked a turnover of Rs 750 crore in FY24 and audio products accounted for 75 per cent of its revenue, the company’s co-founder Varun Gupta said on Friday.

US awards $13.6 billion to Micron which has a chip plant in progress in India

WASHINGTON: The US government has announced a plan to award Micron Technology up to $6.14 billion in grants and $7.5 billion in loans to support the US chipmaker's plan to build new factories, as it strives to bolster domestic semiconductor production.

India highlights PM-KUSUM solar scheme for farmers at World Energy Congress

ROTTERDAM: India's Power Secretary Pankaj Agarwal highlighted the steps that the Narendra Modi government was taking to promote solar power in the country to help convergence towards the COP28 renewable energy and energy efficiency commitments at the ongoing 26th edition of World Energy Congress.

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