Author: News Desk
Bain Capital to acquire Gautam Adani’s 90% stake in Adani Capital and Adani Housing Finance. The move comes as Adani seeks to concentrate on core businesses after facing a damaging short-selling attack earlier this year. Adani Capital specializes in providing loans to small and medium-sized businesses, while Adani Housing Finance focuses on home loans. Former Macquarie investment banker Gaurav Gupta, who will continue as CEO and Managing Director, retains his 10% stake in the businesses.Adani Group’s extensive business empire, spanning coal mining to data centers and TV channels, has been recovering since the short-seller attack resulted in significant losses in market value. To…
Threads, touted as a potential “Twitter-killer” during its launch, has seen a significant decline in active users and engagement, according to data from app tracking firm Sensor Tower. After amassing a staggering 100 million sign-ups within days of its debut, the app has witnessed a 20% decrease in active users and a 50% reduction in time spent on the platform, dropping from 20 minutes to 10 minutes. Threads isn’t the only Twitter alternative to struggle with waning interest. Mastodon, which saw a surge in sign-ups after Elon Musk’s acquisition of Twitter, has also failed to sustain user engagement since late last year. Bluesky, backed by Twitter’s co-founder Jack Dorsey, hasn’t made substantial progress either. Unlike Twitter, Threads lacks the feature of operating anonymously, affecting…
Twitter, the popular social media platform, has recently faced significant scrutiny in India due to its alleged non-compliance with the new IT rules that took effect on May 26. Reports emerged on June 16, indicating that Twitter had lost its intermediary status in the country. This development has raised numerous questions about the consequences of losing such status, the impact on users, and the scope for self-censorship. In this article, we delve into the implications of this incident and attempt to answer some of the pressing questions surrounding it. 1. Understanding the Loss of Intermediary Status The intermediary status granted…
Twitter’s owner, Elon Musk, signalled his plans to revolutionize the social media platform through a complete rebranding. The iconic blue bird logo, synonymous with Twitter, will soon be replaced by a new symbol, likely an “X” representing Musk’s vision for the future. Additionally, tweets will be renamed to “X” in line with the transformation. The move comes amid financial challenges and a decline in advertising revenue for Twitter. Furthermore, Musk conducted a poll among his millions of followers, seeking their opinion on changing the platform’s color scheme from blue to black. He shared an image of a stylized “X” set…
The Ministry of Hajj and Umrah in Saudi Arabia announced that citizens can now invite their Muslim friends from abroad to perform Umrah on a “personal visit visa.”These personal visas, available online, come in two types: single entry and multiple entry. In addition to performing Umrah rituals in Makkah and visiting the Prophet’s Mosque in Madinah, visitors can explore various tourism destinations within the Kingdom. Interested individuals can apply for the personal visit visa through the Saudi Ministry of Foreign Affairs’ visa platform. The single entry visa is valid for 90 days, while the multiple entry visa allows visitors to…
The Importance of a Well-Thought-Out Decision Feeling frustrated and discontented at work can lead to a strong desire to quit your job, but rushing into such a decision may have serious repercussions. Take a moment to reflect on Business News Daily’s list of 10 reasons why leaving might not be the best course of action. A Plan is Key Before taking the leap, ensure you have a well-structured plan in place. Securing a new job or assessing your financial safety net is crucial for a smooth transition. Quitting without a backup plan may lead to a more challenging predicament, leaving you without steady…
We are living at a time when India is endorsing the adoption of e-rickshaws to reduce carbon footprint. Autorickshaws form an integral part of transportation as the majority of Indians rely on autos for moving around. Delhi-headquartered startup ‘Oye! Rickshaw’ intends to cash in on this growing trend. The startup’s eco-friendly rickshaws run on swappable batteries and emit no carbon. It has 120 battery-swapping stations across four cities and provides quick services due to zero charging time. Mohit Sarma and Akashdeep Singh, two childhood friends who are mechanical engineering graduates, started Oye! Rickshaw in 2017. Before launching Oye, Sharma had run the startup Jangid Motors along with his uncle. Jangid Motors produced India’s…
Ajay Devgn Leads the Pack with a Whopping Rs 125 Crore Fee The advent of OTT platforms has revolutionised content consumption for the Indian audience, providing an alternative space for actors in the industry to showcase their work. From A-list actors to fresh talents, bagging a role in leading OTT series has become a coveted goal for many stars. Among them, Ajay Devgn takes the top spot as the highest-paid OTT actor of 2023. Making his OTT debut with ‘Rudra: The Edge of Darkness’ on Disney+ Hotstar, Ajay Devgn charged a massive fee of Rs 125 crore for his role in this philosophical crime thriller. The series is an Indian remake of the acclaimed British show ‘Luther,’…
Striking Actors Restricting Traditional Marketing Efforts The ongoing strike by actors, which prohibits them from participating in red carpets and press tours, has left Hollywood studios seeking alternative ways to promote their big-budget releases. Shift Towards Paid Advertising and Influencer Marketing Film and TV studios, accustomed to leveraging actors’ presence at premieres and interviews, are now compelled to focus on paid advertising, influencer marketing, attention-grabbing stunts, and collaborations with consumer brands, as suggested by industry experts. Conflicts Arise Over Influencers and Talent Involvement As the strike affects actors’ ability to connect emotionally with audiences, studios must adopt a more fan-centric marketing approach.…
Revolutionising AI Model Training Time Cerebras Systems and G42, a UAE-based technology holding group, have jointly launched Condor Galaxy, an innovative network of nine interconnected supercomputers. This cutting-edge initiative aims to revolutionise AI computing by significantly reducing AI model training time. A Leap Towards Advancements in AI The first supercomputer, Condor Galaxy 1 (CG-1), features a staggering 4 exaFLOPs capacity and 54 million cores. The collaboration plans to deploy two more AI supercomputers, CG-2 and CG-3, in the United States by early 2024, totaling 36 exaFLOPs. The interconnected network is set to drive groundbreaking advancements in AI on a global scale. Addressing Societal Challenges Condor Galaxy’s purpose goes beyond AI capabilities. G42 and Cerebras envision utilizing the supercomputing network to tackle pressing challenges in healthcare, energy, climate action, and more.…