Author: News Desk
ISRO is on a new mission. It is developing ‘intelligent’ geostationary communication satellites. Said the space agency chairman Somanath. These will be software-driven high throughput satellites. They can be re-configured by changing frequencies and bandwidth as per requirements. GSATs are the cornerstone of India’s communication requirements. They are important in various sectors such as telecommunications, television broadcasting and satellite news gathering.
Salik, the Emirate’s Road Toll collection system, has decided to sell 20% stake to the public. The share sale will be held from September 13 to 20. Both natives and foreigners can own Salik shares. 150 crore shares are being offered for sale through initial public offering. Salik shares will be available at all major banks in the UAE. Salik aims to raise Rs 8,000 crore through the share sale. However, Salik has not disclosed the share price yet. A 20 percent stake is sold to the public, while the majority stake, 80 percent, is held by the Dubai government.
MeitY Startup Hub(MSH), an initiative of the Ministry of Electronics & Information Technology, and Meta have come together to support XR technology startups across India. The programme will support 40 early-stage startups. Selected startups will receive a grant of Rs 20 lakhs each. The aim of the programme is to equip the startup ecosystem with skills for emerging technologies such as Augmented Reality (AR) and Virtual Reality (CR). Early-stage innovators in sectors such as education, learning and skills, healthcare, agri-tech and climate action, gaming and entertainment, and tourism and sustainability will be the recipients of the arrangement. The innovators will…
A majority of Twitter Inc. shareholders had approved the social media company’s $44 billion sale to Elon Musk. The deadline for the shareholder vote on the merger is Tuesday, but according to the sources, enough investors had already cast their votes by Monday night for the result to be secure. Requests for response from Twitter and Musk’s team were not immediately entertained. Musk informed Twitter that he would not proceed with the acquisition, claiming that the company had deceived him about the platform’s spam accounts and that it had not informed him of a pay settlement it had made with…
Nitin Gadkari, the Union minister for roads and highways, said that the government is planning to build solar-powered electric highways that will make it easier to charge large trucks and buses. In remarks at a gathering hosted by the Indo-American Chamber of Commerce (IACC), Gadkari reaffirmed the government’s intention to build an electric public transportation system in India. In general, an electric highway is a route that provides power to moving cars, including through overhead power lines. According to Gadkari, the government is also promoting toll booths to use solar electricity. The minister claimed that the road ministry had created…
A collaborative mobile robotics firm, Peer Robotics has raised $2.3 million in seed funding, with Kalaari Capital as the lead investor.Existing investors Axilor Ventures, Connecticut Innovations, and Innopact VC took part in the round. Peer robotics is made to operate alongside people, simulating manufacturing operations’ workflows for repetitive jobs in order to save time, boost productivity, and lessen accidents. With a flexible design, out-of-the-box deployment, and cheap maintenance, the company’s robots learn from people in real-time, enabling workers on the shop floor to integrate and deploy solutions alongside them. The STANLEY+Techstars Accelerator programme portfolio includes Peer Robotics. Several industrial facilities…
Air India leases 30 planes to expand operations. It includes 25 Airbus narrow-body aircraft and five Boeing wide-body planes. The planes will enter service in December Wide-body planes will allow longer distances like the India-US route. This is the first significant expansion of Air India under the Tata Group. Tata Group took the airline’s control on January 27, 2022. The lessors will deliver the planes by the end of 2023 Under the new business model, Air India will offer premium economy class too.
Direct-to-consumer (D2C) company Mensa Brands acquired health food startup MyFitness for an undisclosed amount, with the goal of growing it to $1 trillion over the next three to four years. The acquisition will help Mensa Brands launch new categories, expand D2C, invest in brand building and expand into global markets. Founded by Mohammad Patel and Rahil Virani in 2019, MyFitness is popular with fitness enthusiasts, millennials, Gen Z, and athletes. MyFitness was the first company to launch a chocolate version of peanut butter in India and the world’s first chewy peanut butter. They are also the Official Snack Partner of…
Centre to issue new guidelines for social media content creators. This will be applicable to influencers across social media platforms Influencers who receive freebies from firms are subjected to taxes. The new guidelines insist that influencers must declare details of their paid promotions. The government says it’s to protect consumers from fake reviews. Otherwise, heavy penalties would be charged. First offence will be charged with Rs 10 lakhs. Habitual offenders will have to pay Rs 50 lakhs. New guidelines will be announced in the following 15 days.
Alphabet Inc is considering India for some of its Pixel smartphone production. A new report suggests that some production of Pixel phones will be moved to India from China owing to the recent Covid-19 lockdowns and the rising tension between the US and China. Earlier this year, global supply chains were disrupted when China closed key tech hub Shanghai and other cities due to a surge in Covid-19 cases. And, recently, the United States banned exports of some high-end chips to China, causing tension between the US and China. Alphabet is yet to confirm the news. However, the report says that…