A naukri.com initiative
Funding News
Siliconangle
4d
214
Image Credit: Siliconangle
Virtue AI raises $30M in funding for its AI safety tools
- Artificial intelligence safety startup Virtue AI Inc. has raised $30 million in funding to enhance its technology.
- The funding came from two rounds led by Lightspeed Venture Partners and Walden Catalyst Ventures.
- Virtue AI offers software products, including VirtueRed, which automatically performs red-teaming to test AI applications for safety issues.
- Virtue AI's product portfolio also includes VirtueGuard, a firewall-like system, and VirtueAgent, safety-optimized AI agents to perform tasks for security purposes.
Read Full Article
12 Likes
Pymnts
4d
288
Image Credit: Pymnts
LightSource Raises $33 Million to Scale AI-Native Enterprise Procurement Platform
- LightSource Labs has raised $33 million to scale its AI-native enterprise procurement platform.
- The funding will be used to expand the team, enhance the platform's capabilities, and enter new sectors.
- The platform automates processes for buyers, such as identifying suppliers, managing requests for quotes, and facilitating collaboration.
- LightSource has processed over $1 billion in spend and facilitated more than 1,100 sourcing events since 2024.
Read Full Article
16 Likes
Bloomberg Quint
4d
190
Image Credit: Bloomberg Quint
India, Taiwan Requests WTO To Defer ICT Import Duty Dispute Ruling Until October
- India and Chinese Taipei have requested the World Trade Organisation's dispute settlement body not to adopt the ruling against New Delhi's import duties on certain information and technology products till Oct. 24 this year, as both sides are engaged in resolving the matter mutually.
- The dispute settlement body had earlier agreed to six such requests from India and Chinese Taipei to delay consideration of the reports.
- The ruling followed a case filed by the EU, Japan and Taiwan against these duties in the WTO.
- Bilateral consultation is the first step to resolving a dispute. If both sides are not able to resolve the matter through consultation, either of them can approach the establishment of a dispute settlement panel.
Read Full Article
11 Likes
Bloomberg Quint
4d
393
Image Credit: Bloomberg Quint
Google's Android 15 Requires Phones To Have At Least 32 GB Storage: Report
- Google's Android 15 operating system will only run on smartphones with at least 32 GB of storage space.
- The requirement of 32 GB storage is double the size required by Android 14.
- The change aims to optimize user experiences for lower-end smartphones, which make up a significant portion of Android phone sales.
- Android 15 also requires phones to have support for Vulkan 1.3 or higher as their official application programming interface.
Read Full Article
23 Likes
Bloomberg Quint
4d
232
Image Credit: Bloomberg Quint
JSW Steel To Invest Rs 50,000 Crore In Maharashtra For Green Steel Capacity For European Market
- JSW Steel plans to invest over Rs 50,000 crore to create 10 million tonnes per annum of green steel capacity at a plant in Maharashtra.
- The investment is necessitated by a European mandate on green steel, and the new capacity will emit a fifth of the carbon emissions produced by conventional plants.
- JSW Steel also expects the government to impose safeguard duties to protect domestic steel manufacturers from dumping by China and Vietnam.
- The company aims to be the largest steel producer in the world with a capacity of 100 million tonnes per year, up from the present 34.2 million tonnes.
Read Full Article
12 Likes
Bloomberg Quint
4d
285
Image Credit: Bloomberg Quint
Telecom Minister Asks BSNL To Submit Growth And Business Plan
- Union Telecom Minister Jyotiraditya Scindia has asked state-owned Bharat Sanchar Nigam Ltd. to submit circle-level customer growth and business plan for the current fiscal.
- The minister met 27 Chief General Managers and Senior Officials of BSNL and directed them to meet every month.
- The company had reported a net profit of Rs 262 crore in the October-December 2024 quarter.
- BSNL in the last eight to nine months has added around 55 lakh new customers.
Read Full Article
16 Likes
Bloomberg Quint
4d
133
Image Credit: Bloomberg Quint
Dollar’s Link To US Treasury Yields Weakens As Confidence Cracks
- The dollar's link to US Treasury yields has weakened as investors pull out of US assets due to trade war risks weakening the economy.
- The traditional relationship between the dollar and Treasury yields is currently the weakest in three years as investors question the dollar's haven status and central role in the global financial system.
- The options market suggests traders are positioning for a weaker dollar over various time spans, indicating growing concerns about the sustainability of the greenback as a reserve currency.
- The dollar-yields correlation is at its lowest since the aftermath of Russia's invasion of Ukraine, reflecting an accelerating exodus from US assets and damage to the US brand.
Read Full Article
8 Likes
Bloomberg Quint
4d
320
Image Credit: Bloomberg Quint
Max India Plans To Raise Rs 125 Crore Via Rights Issue
- Max India plans to raise up to Rs 125 crore through a rights issue of equity shares with a face value of Rs 10 each.
- The detailed terms of the rights issue, such as issue price, entitlement ratio, record date, payment terms, and timing, are yet to be finalized.
- On March 20, Max India's subsidiary, Antara Senior Living Ltd., invested Rs 7.03 crore in Max Estates Noida Pvt. Ltd. to acquire a 10% equity stake.
- Shares of Max India closed 8.21% higher at Rs 200.41 apiece on the BSE, compared to a 2.19% rise in the benchmark Nifty 50.
Read Full Article
19 Likes
Bloomberg Quint
4d
460
Image Credit: Bloomberg Quint
Wipro Q4 Preview: Profit, Revenue Growth Likely To Be Muted; Margins Expected Flat
- Wipro is set to announce its fourth quarter results on Wednesday, nearly a week after domestic rival TCS.
- Wipro's net profit is expected to have grown fractionally, while a 2% uptick in revenue is anticipated.
- Analysts expect Wipro's IT services margins to remain flat and provide a revenue growth guidance of -1% to +1% for the next quarter.
- Key points to watch are discretionary spending trends, realignment of service line, global macros impact, and deal pipeline conversion outlook.
Read Full Article
23 Likes
Pymnts
4d
170
Image Credit: Pymnts
UK’s FCA to Establish Regional Offices in US and Asia-Pacific
- The United Kingdom’s Financial Conduct Authority (FCA) is establishing regional offices in the United States and the Asia-Pacific (APAC) region to provide regulatory guidance and support to firms.
- This move is aimed at improving exports, attracting more inward investment, and strengthening the global network and international reputation of the U.K. financial services industry.
- The FCA has recently established its presence in the U.S. and will set up an APAC office in Australia.
- The new offices will assist international investors in accessing the FCA more easily and will contribute to the growth of the U.K.'s financial services sector.
Read Full Article
10 Likes
Bloomberg Quint
4d
373
Image Credit: Bloomberg Quint
US Envoy Says Iran Can Stop Short Of Scrapping Nuclear Program
- US envoy Steve Witkoff suggests that the US is willing to accept some Iranian uranium enrichment, marking a significant diplomatic step in ongoing nuclear talks.
- The US is focusing on restricting Iran's uranium enrichment and missile capability rather than dismantling its entire nuclear program, as stated by Witkoff.
- Iran and the US have been engaged in nuclear talks mediated by Oman, with a focus on verification processes for enrichment and weaponization.
- There is a shift in the US approach from demanding complete dismantling of Iran's nuclear program to accepting some enrichment, potentially reducing the urgency to restore UN sanctions.
- Iranian President Masoud Pezeshkian has indicated readiness to provide guarantees that Iran won't pursue nuclear weapons and desires a deal similar to the 2015 agreement.
- Iran's Supreme Leader Ayatollah Ali Khamenei has cautiously supported the ongoing negotiations, signaling a tentative optimism.
- Khamenei reluctantly backed the 2015 nuclear deal despite opposition, with Trump's withdrawal from the pact leading to heightened tensions and near-conflict with Iran.
- Iran's uranium enrichment levels have surpassed the original 2015 deal's limits due to Trump's actions, with current levels reaching up to 60% purity.
- The US aims to address Iran's missile capabilities in the talks, while the IRGC has stated that missiles are non-negotiable red lines for Iran.
- Witkoff emphasized the goal of avoiding military conflict with Iran and described the initial talks as positive and constructive.
Read Full Article
22 Likes
Bloomberg Quint
4d
170
Image Credit: Bloomberg Quint
Ex-Finance Secretary Ajay Bhushan Pandey Becomes Vice President At Asian Infrastructure Investment Bank
- Ajay Bhushan Pandey, former Finance Secretary and NFRA Chairperson, has taken charge as Vice President of Investment Solutions at the Asian Infrastructure Investment Bank (AIIB).
- Pandey will oversee key departments, including the Sectors, Themes, and Finance Solutions Department (STF), the Sustainability and Fiduciary Solutions Department (SFD), and the Portfolio Management Department (PMD).
- He retired as the Chairperson of the National Financial Reporting Authority last month after serving in prominent leadership roles within the Indian government for over three decades.
- Pandey played a significant role in shaping India's digital and financial infrastructure through initiatives like Aadhaar, UPI, GSTN, and the National Infrastructure Pipeline.
Read Full Article
10 Likes
Bloomberg Quint
4d
156
Image Credit: Bloomberg Quint
Government Wheat Procurement Reaches Six Million Tonne So Far In 2025
- The government has purchased about 6 million tonne of wheat so far in the 2025-26 marketing season.
- The government has set a procurement target of 31 million tonne for the current season.
- Approximately 20 million tonne are expected to come from major producing states Punjab and Haryana.
- Wheat procurement is a critical government operation aimed at ensuring food security and supporting farmers.
Read Full Article
9 Likes
Bloomberg Quint
4d
381
Image Credit: Bloomberg Quint
Reliance-BP-ONGC Trio Strikes Big On Debut; ONGC Corners Most Offshore Oil Blocks
- In the OALP-IX bid round, Reliance, BP, and ONGC consortium won the GS-OSHP-2022/2 block in Gujarat offshore, while ONGC secured the most offshore oil blocks.
- ONGC and its partners won a total of 15 blocks, with ONGC alone winning 11 and the remaining four with partners. Vedanta Ltd. secured seven blocks out of the 28 on offer.
- Reliance, BP, and ONGC consortium signed a contract for a new exploration license for block GS-OSHP-2022/2 under the OALP IX bidding round.
- Contracts for the OALP-IX blocks were signed in the presence of Oil Minister Hardeep Singh Puri, with a total of 28 blocks spread over 1.36 lakh square kilometers in the bid round.
- ONGC bid for 19 out of the 28 blocks on offer, along with partners like Oil India and Indian Oil Corp., while Vedanta bid for all 28 blocks.
- The government has opened the OALP-X bid round, offering 25 blocks with an area of approximately 1,91,986.21 sq km, with bidding closing on July 31.
- The OALP aims to boost India's oil and gas production by attracting firms to develop the upstream sector through a revenue-sharing model and reduced royalty rates.
- Reliance and BP have a longstanding partnership and are partners in the KG deepsea block KG-D6, contributing significantly to gas production.
- The open acreage policy introduced in 2016 allows explorers the freedom to identify areas for oil and gas prospecting, aiming to reduce India's oil import bill.
- While private sector participation has been limited in subsequent OALP rounds, Vedanta dominated the first round by winning 41 blocks, with other rounds being led by state-owned firms.
Read Full Article
22 Likes
Bloomberg Quint
4d
117
Image Credit: Bloomberg Quint
Manufacturing Cluster Worth Rs 4,680 Crore To Be Developed In Haryana's Hisar
- A manufacturing cluster worth Rs 4,680 crore will be developed in Haryana's Hisar near Maharaja Agrasen Airport.
- The industrial manufacturing cluster will be developed jointly by the Haryana government and the National Industrial Corridor Development Corporation.
- The project is part of the Amritsar-Kolkata Industrial Corridor and will cover nearly 3,000 acres in two phases.
- The cluster is expected to attract investments of around Rs 32,000 crore and generate over 10,000 employment opportunities.
Read Full Article
7 Likes
For uninterrupted reading, download the app