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Crafting quality culinary experiences; BharatPe slashes EBITDA losses
- The world is nearing the 'age of electricity' with fossil fuel demands expected to peak by the end of the decade, the International Energy Agency said. Clean energy projects are on the rise in China, which accounted for 60% of new renewable energy in 2023. India is also stepping up its clean energy plans with a $109 billion investment in the electricity grid to incorporate new renewable sources. Silicon Valley is looking at nuclear power for its clean energy requirements, with Google and Amazon investing in small nuclear reactors. BharatPe Group reduced its EBITDA loss before share-based payment expense by 75% to Rs 209 crore in FY24. Catering services firm CaterNinja handles menu customisation for events based on event size and cuisine preferences using its proprietary algorithm. It has cloud kitchens in several Indian cities and has offered services in over 25,000 events so far. IBM is using GenAI to refactor older computer languages into more modern applications.
- BharatPe grew its merchant lending portfolio by 40% and introduced Android POS systems for merchants. It also continued to see strong adoption of its soundbox devices. The company plans to focus on growing its lending vertical, launching new products in POS and soundbox, and scaling its consumer business in the future.
- GenAI is being used to understand code as a starting point for refactoring legacy systems into more modern applications. IBM believes that AI has a role to play in augmenting existing technology systems and people, rather than replacing them.
- Luxury fashion house Prada and commercial space company Axiom Space have unveiled the designs for a spacesuit that will be worn for NASA’s Artemis III moon mission. The Grand Egyptian Museum near the pyramids of Giza has opened its doors to some of its galleries, showcasing over 100,000 objects, including treasures from the tomb of King Tutankhamun. Amazon has announced its first colour Kindle e-reader carrying a $280 price tag.
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