Author: News Desk

The oil prices on Friday experienced a more than 2% increase following the United States and Britain conducting strikes against Houthi military targets in Yemen. This action was a retaliation for the Iran-backed group’s attacks on shipping in the Red Sea since late last year. Brent crude futures rose by $1.81, or 2.3%, reaching $79.22 a barrel, while U.S. West Texas Intermediate crude futures increased by $1.80, or 2.5%, trading at $73.82 at 0154 GMT. The U.S. and British strikes signify a significant escalation in the Israel-Hamas conflict in the Middle East since it erupted in October. Witnesses in Yemen…

Tata Consumer Products Limited (TCPL) is set to acquire Organic India, backed by Fabindia, and Capital Foods, renowned for its brand Ching’s Secret, according to sources cited by ET. The formal announcement is anticipated next week. Under the deal, TCPL will secure a controlling stake in Organic India from Fabindia at a valuation of INR 1,800 crore. Simultaneously, it will purchase a 75% stake in Capital Foods from Invus Group and General Atlantic at a valuation of INR 5,100 crore. The remaining 25% stake will initially be retained by former Capital Foods chairman Ajay Gupta, with TCPL planning to acquire…

According to a statement from the firm, Maruti Suzuki India Ltd. would invest over INR 32,000 crore to build an auto facility in Gujarat that will eventually produce about 1 million vehicles annually. It is anticipated that the plant will start up in FY2028–2029. In order to increase the production of electric vehicles, Maruti Suzuki plans to invest an additional INR 3,200 crore to establish a fourth production line at its fully owned subsidiary Suzuki Motor Gujarat Pvt. Ltd. “The investment of INR 3,200 crore will add a new production line which can produce 2.5 lakh (250,000) units per year. It…

India is rapidly emerging as a dominant force in the field of artificial intelligence (AI) and analytics, fuelled by a burgeoning pool of tech and digital talent and substantial government support. Both the central and various state governments have rolled out initiatives to drive AI adoption in the country. Notable programs include “AI for All” by Niti Ayog, and India’s leadership role at the G20 summit’s Chair at GPAI. Additionally, the Ministry of Electronics and Information Technology (MeitY) is set to launch initiatives like IndiaAI, Bhasini Programme, and YuvAI to skill the Indian youth. Multiple states, particularly Tamil Nadu, Telangana,…

The U.S. Securities and Exchange Commission (SEC) marked a historic moment by approving the first U.S.-listed exchange-traded funds (ETFs) designed to track bitcoin, a significant development for the cryptocurrency industry. The green light was given to 11 applications, with notable players like BlackRock, Ark Investments/21Shares, Fidelity, Invesco, and VanEck securing approval. Despite concerns raised by some officials and investor advocates regarding potential risks, the SEC’s decision sets the stage for a new era in the crypto market. Expected to commence trading on Thursday, the approved ETFs will likely spark intense competition among issuers for market dominance. A decade in the…

The Board of Directors of NEOM has introduced Aquellum, an avant-garde luxury and experiential space nestled within the mountains, marking a significant addition to the ongoing regional development in northwest Saudi Arabia. Rooted in cutting-edge technology, innovative architecture, and forward-thinking concepts, Aquellum promises guests a glimpse into futuristic living through its groundbreaking experiences. Nestled discreetly along the Gulf of Aqaba coastline and concealed within a breathtaking 450-meter-high mountain range, Aquellum forms a futuristic ecosystem seamlessly integrated into its natural surroundings. Crafted to ignite originality and imagination, Aquellum aims to redefine conventional design and construction boundaries. Accessing Aquellum is an extraordinary…

Mark Zuckerberg’s foray into the world of high-quality beef cattle at his Ko’olau ranch on Kauai, Hawaii, is facing criticism for being perceived as out of touch and environmentally irresponsible. The Meta billionaire’s ranch, where cows are fed macadamia nuts and beer, has raised eyebrows and stirred controversy. A Billionaire’s Unusual Ranching Methods Critics are labelling Zuckerberg’s cattle-raising project as “a billionaire’s strange sideshow,” emphasising concerns about its environmental impact. The ranch, spanning 1,400 acres and valued at $100 million, not only houses cattle but also features an underground bunker and various energy projects, according to recent investigations. Environmentalists Slam…

In a significant development, six countries—France, Germany, Italy, Spain, Japan, and Singapore—have claimed the top position in the 2024 Henley Passport Index. This achievement grants their citizens visa-free access to an unprecedented 194 destinations out of a total of 227 across the globe, according to data from the International Air Transport Association (IATA). Dr. Christian H. Kaelin, Chairman of Henley & Partners, emphasised the widening global mobility gap, pointing out that the top-ranked countries now enjoy a remarkable 166 more visa-free destinations than Afghanistan, which ranks at the bottom with access to only 28 countries without a visa. The global…

The upcoming community reception, titled ‘Ahlan Modi,’ where Indian Prime Minister Narendra Modi is set to address the expatriate community in Abu Dhabi, has garnered an exceptional response, with as many as 20,000 registrations to date. The event is scheduled to take place at Zayed Sports City Stadium on February 13. Largest Community Reception in the Making Organised as the largest community reception for Prime Minister Modi, the event has generated immense interest, as highlighted by a key member of the organising committee. The venue, chosen strategically at the Zayed Sports City Stadium, is expected to be filled to its…

During the inauguration of the Vibrant Gujarat Global Summit, Nepal’s Finance Minister, Prakash Sharan Mahat, announced a historic long-term power purchase agreement with India. The agreement signifies a substantial leap in energy cooperation between the two neighboring nations, aiming to export a colossal 10,000 megawatts (MW) of electricity to India over the next decade. Transformative Impacts on Nepal’s Hydropower Sector and Investment Landscape Minister Mahat emphasised the potential of the power purchase agreement to unlock significant investment opportunities in Nepal’s hydropower sector. By exporting a massive amount of electricity to India, Nepal foresees an economic boost and a pivotal role…