Author: News Desk

Union Minister Nitin Gadkari recently embarked on a journey of exploration, visiting innovative urban mobility solutions in both Sharjah, UAE, and Prague, Czech Republic. His visit to the pilot certification and experience centre of uSky Technology in Sharjah left him enthralled by the Sky Bus, an elevated rail cable system designed to revolutionize urban transportation. Here’s a closer look at his experiences and the potential impact of this groundbreaking mobility solution. Sky Bus in Sharjah: A Game-Changer for India’s Urban Mobility During his stopover in Sharjah, Gadkari took a test ride of the Sky Bus and witnessed a safety and…

In a significant stride towards the ‘Make in India’ initiative, Hindustan Aeronautics Limited (HAL) marked a historic moment on Wednesday as it handed over the first LCA Tejas twin-seater aircraft to the Indian Air Force (IAF). This landmark delivery underscores India’s growing prowess in indigenous defence manufacturing. Stepping Up Production HAL has a substantial order of 18 twin-seater LCA Tejas aircraft from the Indian Air Force and is poised to deliver eight of them during the 2023-24 fiscal year. The remaining ten aircraft will follow suit progressively and are expected to be in the IAF’s possession by 2026-27, solidifying HAL’s…

In the fast-paced world of technological innovation, two teenage entrepreneurs have caught the attention of industry heavyweights, including Sam Altman, with their groundbreaking AI startup. Founded this year, Induced AI is on a mission to transform businesses by automating a wide range of workflows in unprecedented ways. In this article, we delve into the remarkable journey of Induced AI, with a particular focus on its influential backers, Sam Altman and Peak XV, as well as its innovative approach to workflow automation. The Visionaries Behind Induced AI At the helm of Induced AI are two prodigious teenagers, Aryan Sharma and Ayush…

On October 1, 2023, S.N. Subrahmanyan stepped into his new role as the Chairman and Managing Director of Larsen & Toubro (L&T), marking a significant milestone in his illustrious journey within the company. Having joined L&T’s ECC Division in 1984, Subrahmanyan ascended the corporate ladder, acquiring invaluable experience and expertise along the way. In this article, we delve into his vision for the company and the steps he plans to take to steer L&T into a promising future. A Visionary Leader’s Inaugural Address In his first address to L&T employees as the Chairman and Managing Director, Subrahmanyan wasted no time…

Ahead of the ICC World Cup 2023, Disney Star, the official broadcaster which has exclusive broadcast and media rights for linear and digital platforms, on Wednesday unveiled the list of 26 sponsors featuring the top brands. Out of these 26 sponsors, a notable trend observed a relatively conspicuous absence of several startups and new-age companies from the list of sponsors last year. Making this factual, the newly released list has the presence of few startups out of its 26 sponsors. Those startups are PhonePe, a digital platform for financial services; Dream11, an Indian fantasy sports platform; LendingKart, a digital lending platform. Moreover, the forthcoming…

Distributed Technologies Research Limited (DTR), an Abu Dhabi Global Market (ADGM) – based decentralised finance (DeFi) startup, has launched an UAE dirham-backed stablecoin called DRAM. The aim of issuing a dirham-backed stablecoin was to establish a foothold in the $130 billion market, currently dominated by US dollar-backed stablecoins, adding that it is attempting to leverage the more liberal approach of the UAE to cryptocurrencies and the Web3 ecosystem compared to other jurisdiction. Akshay Naheta DTR will licence its stablecoin technology to Hong Kong-based DRAM Trust, which will hold the reserves backing the tokens. Every DRAM token will be backed by…

In a significant development, the Reserve Bank of India’s core banking solution for the government, known as E-Kuber, is set to become fully functional on March 31, 2024, which coincidentally falls on a Sunday. E-Kuber plays a pivotal role in handling government transactions, and this move to include Sundays as working days for the system highlights its importance in streamlining financial operations. In this article, we will explore what E-Kuber is and delve into its expanded functionality in the context of government financial transactions. Understanding E-Kuber E-Kuber is the Reserve Bank of India’s (RBI) core banking solution designed to facilitate…

With the excitement of cricket taking hold of the nation, Disney Star is poised to generate a staggering ₹3,500 crores in advertising revenues from the 2023 Cricket World Cup, say industry insiders. The ICC Men’s Cricket World Cup is all set to commence this Thursday, starting with the opening clash between England and New Zealand. Disney Star has labeled this tournament as a harbinger of “the highest viewership and the largest number of advertisers.” Akin to the IPL’s Ad Success: If Disney Star manages to meet the revenue projections, it will mirror the advertising revenues of the recent Indian Premier…

The data analytics and consulting firm GlobalData has recently revealed that Indian startups witnessed a massive fall in venture capital (VC) funding in the first eight months of 2023. The report noted that from January to August 2023, the startup-focused VC funding in India plunged 71.5%, compared to the same period a year ago. The first eight months of 2023 saw $4.9 billion raised in funding, compared to the $17.1 billion funding raised during the same period last year. An analysis of GlobalData’s Financial Deals Database also revealed that VC funding deal volume recorded a 42% YoY decline over 1,266 VC funding…

Meta reportedly announced its planning to lay off employees on Wednesday in the unit of its Metaverse-oriented Reality Labs division focused on creating custom silicon. Employees were informed of the layoffs in a post on Meta’s internal discussion forum Workplace on Tuesday. The post said they would be notified about their status with the company by early Wednesday morning, as per reports citing the close sources aware of the matter. According to available sources, roughly around 600 employees are laid off in this round. Take on Lay Off Meta has already undergone a significant reduction in its workforce. Few months back, post…