Business

Business

AI: July-born startup Sarvam raises $41 mn to work across multiple Indian languages

December 7, 2023 Vinayak Barot

Virendra Pandit New Delhi: Bengaluru-based, four-month-old startup Sarvam AI has raised USD 41 million (INR 3,417 crores), the largest such round by an early-stage Artificial Intelligence contender, in fresh funding to tap growth in the multilingual Indian market. Sarvam AI is building large language models targeted at unique uses in Indian languages, aimed at […]

Business

Technology: Digital economy to contribute 20% of India’s GDP by 2026

December 7, 2023 Vinayak Barot

Virendra Pandit New Delhi: Union Minister of State for Electronics, Information Technology, Skill Development, and Entrepreneurship Rajeev Chandrasekhar on Thursday said the digital economy will contribute one-fifth—or 20 percent—to India’s Gross Domestic Product (GDP) by 2026 itself. In 2014, the digital economy contributed only 4.5 percent to the country’s GDP and it is 11 […]

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Assassination: Iran court orders the US to pay $50 bn for killing top general

December 6, 2023 Vinayak Barot

Virendra Pandit New Delhi: An Iranian court has ordered the United States to pay USD 50 billion for “assassinating” top General Qasem Suleimani in 2020. Iran and Washington have had no diplomatic relations since the aftermath of the 1979 revolution. Ever since the two countries have been at loggerheads on diverse issues and vowed […]

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Roving Periscope: After China and Russia, N. Korea also wants women to have more kids!

December 6, 2023 Vinayak Barot

Virendra Pandit New Delhi: Facing critically declining birth rates and workforce, and ballooning pension and health bills for the longer-living elderly, North Korea became the third dictatorship in Asia after China and Russia to ask its women to produce more children. North Korean leader Kim Jong Un, while appealing to women to have more […]

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New economy: India recognized nearly 1.15 lakh entities as startups until Oct

December 6, 2023 Vinayak Barot

Virendra Pandit New Delhi: Union Minister for Commerce and Industry Piyush Goyal on Wednesday said the government has recognized 114,902 startups in the country as of October 31, 2023. These eligible firms can seek fiscal incentives under the Startup India Action Plan, launched in January 2016, which includes income tax exemption for three years, […]

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Adani Green Energy Ranks Among Top 3 Global Solar PV Developer

December 6, 2023 Vinayak Barot

Ahmedabad, 6 December 2023 – Adani Green Energy Limited (AGEL), India’s largest and one of the world’s leading renewable energy solutions partner, has attained the remarkable position of the second-largest global solar PV developer, in Mercom Capital Group’s latest Annual Global Report. According to the report, AGEL’s outstanding performance and contribution to the renewable energy […]

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The Gaza War: Israel strikes Hezbollah in Lebanon, may flood Hamas tunnels

December 5, 2023 Vinayak Barot

Virendra Pandit New Delhi: Nearly two months into the raging conflict, and after a seven-day pause ended, Israel intensified air strikes in the southern Gaza city of Khan Younis, attacked Hezbollah sites in Lebanon, and considered flooding Hamas tunnels in the Gaza Strip where the Sunni terror group still reportedly holds nearly 140 hostages […]

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PMLA: With ED’s actions, PSBs get back over Rs.15k crore, says Sitharaman

December 5, 2023 Vinayak Barot

Virendra Pandit New Delhi: Finance Minister Nirmala Sitharaman on Tuesday said the Enforcement Directorate (ED) has confiscated assets worth Rs 15,186.64 crore under the stringent Prevention of Money Laundering Act (PMLA) and almost all of these have been restituted to public sector banks (PSBs). Replying to supplementary questions in the Rajya Sabha, she said […]

Business

Roving Periscope: In economic growth, India’s rating goes up, China’s down

December 5, 2023 Vinayak Barot

Virendra Pandit New Delhi: On a day S&P Global Ratings said India is set to become the third-largest economy worldwide by 2030, Moody’s cut its outlook on the second-largest economy China’s sovereign bonds to negative on its rising debt crisis, the Dragon’s second debt downgrade since 1989, the first being in 2017. In its […]

Business

US Examined Hindenburg Allegations Before Giving Loan to Adani

December 5, 2023 Vinayak Barot

The US government concluded that short-seller Hindenburg Research’s allegations of corporate fraud against Indian billionaire Gautam Adani weren’t relevant before extending his conglomerate as much as $553 million for a container terminal in Sri Lanka, a senior US official said. Allegations in a scathing report by US-based Hindenburg Research, which erased around $100 billion from […]