Author: News Desk
Flipkart co-founder Binny Bansal is all set to capitalize on the demand for artificial intelligence and start his own AI company to serve corporate clients around the world, according to a Bloomberg report, citing sources. Bansal, who co-founded online retailer Flipkart and sold it to Walmart Inc., wants to offer AI talent, products and services to corporate customers, emulating the business model of outsourcing providers like TCS and Infosys. As per the report, the team has hired 15 people, mostly AI scientists, and plans to add more staff to roll out offerings within the next few months. The 40-year-old billionaire is reportedly looking to…
In a proactive effort to alleviate the burden of food inflation on its citizens, the central government of India has introduced the ‘Bharat Atta’ scheme. Under this initiative, wheat flour, commonly known as atta, will be made available to the public at a subsidised price of Rs 27.50 per kilogram, a significant reduction compared to the prevailing market prices of Rs 40-45 per kilogram. Union Minister Piyush Goyal Launches ‘Bharat Atta’ Union Minister Piyush Goyal marked the official commencement of the ‘Bharat Atta’ scheme by flagging off 130 mobile vans that will facilitate the distribution of the subsidised atta. During…
India is making an earnest effort to entice Tesla, the electric vehicle (EV) giant led by Elon Musk, to set up shop in the country. Government departments are working tirelessly to provide the necessary approvals by January 2024, signalling their commitment to welcoming the American automaker. PMO Takes Stock of Electric Vehicle Manufacturing The Prime Minister’s Office (PMO) recently conducted a high-level meeting, with top officials in attendance, to assess the next phase of electric vehicle manufacturing in India. Among the key discussions was Tesla’s investment proposal, a topic that has garnered significant attention. Fast-Tracking Approvals Tops the Agenda While…
Co-working space provider WeWork has taken the drastic step of filing for bankruptcy. This move comes as the company grapples with the current economic situation and a slew of financial challenges. Warning Signs in Earnings Report During its second-quarter earnings report in August of this year, WeWork issued a warning, indicating its financial instability and the potential inability to sustain its operations in the coming year. The company found itself in a precarious position amidst the economic turmoil. Impact on Tech Giants and Businesses WeWork, once the most valued startup in the United States, has faced significant setbacks. The co-working…
Saudi Arabia has expressed interest in buying a multibillion-dollar stake in the Indian Premier League (IPL), the world’s richest cricket league, according to a Bloomberg News report, citing people familiar with the matter. Saudi Arabia reportedly proposed investing as much as $5 billion into the league and help lead an expansion into other countries. As per earlier reports, the IPL ecosystem value has risen from INR 87,000 crore to INR 92,500 crore, marking an increase of around 6.3%, as per a report by D&P India Advisory Services. The kingdom proposed investing as much as $5 billion and help lead an expansion…
Dubai’s Crown Prince, H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, has unveiled an ambitious plan to propel the city into the forefront of the global gaming industry. The “Dubai Program for Gaming 2033” aims to not only establish Dubai as a hub for gaming but also generate 30,000 job opportunities within the sector. The program will play a pivotal role in advancing the emirate’s digital economy and was announced during a meeting chaired by Sheikh Hamdan. Positioning Dubai in the Global Gaming Industry: Under the visionary leadership of Sheikh Hamdan, the “Dubai Program for Gaming 2033” has been…
Are you dreaming of breaking free from the traditional 9-to-5 grind and embarking on an exciting entrepreneurial journey? Starting your own business can be a thrilling and rewarding endeavour, but it’s not without its challenges. To help you launch your entrepreneurial journey on the right foot, here are some essential tips to consider: Identify Your Passion and Purpose The foundation of a successful business often begins with your passion and a clear sense of purpose. What do you love to do, and how can you turn that passion into a viable business idea? Identifying your “why” will help you stay…
Indian refiners are likely to import crude oil from Venezuela at a discounted rate after the US eased sanctions on oil from the Latin American country, according to a report by S&P Global Commodity Insights. India, the world’s third biggest oil importer and consumer, reportedly ships over 80% of its oil needs from overseas and wants to cut its crude import bill. “It is always good when more supplies come to market,” Oil Minister Hardeep Singh Puri said at an industry event, speaking about Venezuelan oil, and added: “We will buy from wherever we can get cheaper oil.” “Coker complexes…
The Ministry of Electronics and Information Technology (MeitY) on Sunday said that it had issued blocking orders against 22 “illegal betting apps and websites”, including Mahadev Book Online and Reddyannaprestopro at the Enforcement Directorate’s (ED) request. As per the union government, “The action follows investigations conducted by the ED against an illegal betting app syndicate and subsequent raids on Mahadev Book in Chhattisgarh, revealing the app’s unlawful operations.” In a recent interview with TOI, Chattisgarh CM Bhupesh Baghel had questioned the government on why they are not issuing a ban on Mahadev app. Later, on Friday, the ED is probing…
The surge in cyber fraud cases linked to illegal digital lending apps has raised concerns among consumers in India. In response to the growing number of complaints against these apps, Google has partnered with the Fintech Association for Consumer Empowerment (FACE) to tackle this issue head-on. This collaboration aims to create a safer digital environment for internet users and protect them from scams perpetuated by predatory digital lending apps. Safeguarding Against Online Fraud: In October 2023, Google announced its partnership with FACE, a crucial move to safeguard consumers from online fraud and create a reliable digital ecosystem. FACE will now…