ACCELERATORS
Must accelerate action for sustainable development goals: UN Secy General
The Sustainable Development Goals face challenges due to the COVID-19 pandemic, conflicts, and climate change. Urgent global cooperation is needed to address rising poverty, conflict casualties, and displacement. Despite progress in renewable energy, more action is crucial for a just energy transition to achieve the SDGs by 2030.
Global tyre makers accelerate make-in-India plans, buoyed by govt's PLI scheme
Global tyre giants Michelin, Bridgestone, and Goodyear, along with potential investors Yokohama and Birla Tyre, are set to invest around Rs 3,000 crore in India's manufacturing sector under a government scheme linking imports to local investment. This initiative, aimed at boosting domestic production, follows the Centre’s import restrictions.
India Accelerator adds 250,000 sq ft in Pune, Gurugram and Noida
India Accelerator has expanded with 250,000 sq ft across 7 centres in Pune, Gurugram, and Noida, adding 3200 seats in Noida, 900 in Gurugram, and 400 in Pune. With over 200 startups, they foster collaboration and innovation, investing USD 4 million to support entrepreneurs nationwide via infrastructure and early-stage investments.
India’s wholesale prices accelerate to 15-month high of 2.61% in May
India's Wholesale Price Index (WPI) surged to a 15-month high of 2.61 percent in May, up from 1.26 percent in April 2023. This increase was notably higher compared to the 3.48 percent decline seen in May 2023. The numbers accelerated significantly, with WPI reaching 7.4 percent in May, up from 5.5 percent in April and 4.82 percent in May 2023. Primary articles inflation rose to 7.2 percent in May from 5.01 percent in April, while fuel and power inflation remained subdued at around 1.4 percent.
Transformative agricultural technologies could accelerate sustainable development in Bihar, finds Cornell University study
The Tata-Cornell Institute for Agriculture and Nutrition (TCI) at Cornell University has found that Bihar can significantly reduce greenhouse gas emissions associated with rice and livestock production while maintaining or even improving productivity. The research, part of TCI's Zero-Hunger, Zero-Carbon Food Systems project, aims to create a roadmap for reducing agricultural emissions in Bihar without sacrificing productivity.
Consumer sector in focus post-election results! D-Mart, Tata Consumer could give 12-18% in 1 year
We believe this rally in staple stocks is driven by not only its ‘defensive sector’ tag but also the underlying excitement, which was triggered by strong post-Q4 management commentary.
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Canada's May job gains exceed forecasts; wage growth accelerates
The unemployment rate ticked up to a 28-month high of 6.2% from 6.1% in April, matching forecasts. The jobless rate, on an uptrend over the past year, has risen 1.1 percentage points since April 2023, Statscan data showed. Economists had said that with no slowdown in population growth seen in the short-term, any job additions below 45,000 people would push the unemployment rate higher.
Renewable industry workforce addition accelerates, attrition slows: Teamlease data
Strong growth in headcount underscores sector's expansion to meet global renewable energy targets and increasing demand for skilled workers
Intel battles AMD with new data center chips
Intel launched sixth generation Xeon server processors to regain data center market share. Gaudi 3 AI chip, priced competitively, provides a cheaper alternative to rivals' chips. Lunar Lake laptop chip, with a powerful AI processor, will ship in Q3.
AMD launches new AI chips to take on leader Nvidia
Advanced Micro Devices unveiled the MI325X accelerator at Computex, aiming to challenge Nvidia with new AI chips by 2026.
Nvidia CEO announces next-gen Rubin AI platform for 2026
The company - now best known for its artificial intelligence data center systems - also introduced new tools and software models on the eve of the Computex trade show in Taiwan. Nvidia sees the rise of generative AI as a new industrial revolution and expects to play a major role, the CEO said in a keynote address at National Taiwan University.
Eye on AI: Tech giants form industry group, Apple-OpenAI deal and other top developments
Google, Microsoft, Intel and other tech companies have come together to take on chipmaking giant Nvidia. Apple partners with OpenAI. The ChatGPT maker is training its new flagship model to succeed GPT-4. Google is putting limits on AI search experience. French unicorn startup Mistral releases generative AI model for coding.
eInfochips joins TSMC Design Center Alliance to accelerate semiconductor innovation
The TSMC DCA program focuses on chip-implementation services and system-level design solutions to help lower design barriers for customers adopting TSMC technology.
Tata Motors embracing structural shifts from a position of strength and confidence: N Chandrasekaran
With the turnaround the company is embracing the structural shifts which includes an irreversible move to green mobility, rebalancing of supply chains to achieve resiliency digital acceleration with Artificial Intelligence and Machine Learning becoming mainstream, from a position of strength and confidence.
US is slowing AI chip exports to Middle East by Nvidia, AMD
In October, the Commerce Department added much of the Middle East to chip export restrictions that originally focused on China and a handful of other foreign adversaries. That meant companies needed a special US government license to ship cutting-edge semiconductors and chipmaking tools to countries such as Saudi Arabia and the UAE.
Google Cloud, EkStep Foundation partner to accelerate adoptions of Digital Public Infrastructure
The company statement said this will enable proof of concepts for creating and enhancing DPGs and DPIs, and identify Google Cloud products relevant to DPI adoption.
India Accelerator launches vertical to focus on robotics, unmanned aerial systems
India Accelerator launches RUMS (Robotics, Unmanned & Space) to support startups in robotics and unmanned sectors. Lt. Gen Anil Chait, a former Indian Army veteran, leads RUMS to foster innovation and growth in defense and other critical industries.
Finvolve closes maiden funds at Rs 100 crore
Gurugram-based angel investment firm Finvolve will look to back about 25-35 sector-agnostic startups with a minimum investment of Rs 25 lakh.
India May business growth robust as exports rise at record pace, PMI shows
HSBC's flash India Composite purchasing managers' Index , compiled by S&P Global, rose slightly to 61.7 this month from April's final reading of 61.5, marking the 34th month above the 50-level separating growth from contraction.
SanchiConnect, YourNest Venture Capital launch accelerator for deeptech hardware and software startups with Core IP
The program is open to startups in a wide range of sectors including agritech, adtech, biotech, consumer/retail, energy, martech, manufacturing, and foodtech.
Acceleration of biosimilar business, debt reduction to be key priorties in FY25: Biocon Chief
Kiran Mazumdar-Shaw of Biocon aims to consolidate, accelerate biosimilar business, and reduce debt after Viatris acquisition in FY25. Mazumdar-Shaw anticipates expanding its market share for biosimilar products across the US, Europe, and emerging markets, coupled with the possibility of introducing new products in the fiscal year 2025.
China April industrial output rises 6.7 y/y, beats expectations
China's industrial output grew 6.7% in April, surpassing expectations, with retail sales and fixed asset investment showing mixed results. Official data released on Friday by the National Bureau of Statistics (NBS) came above expectations for a 5.5% increase in a Reuters poll of analysts.
Q4 results today: Vodafone Idea, M&M among 94 companies to announce earnings on Thursday
Q4 results today: 94 companies, including M&M and Vodafone Idea, to announce Q4 results for Jan-Mar 2024. M&M expected to report net profit between Rs 1,777-2,079 crore with revenue at Rs 24,051 crore. Vodafone Idea's Q4 net loss to widen between Rs 7,307-7,680 crore with revenue around Rs 10,690.
Amazon announces fourth season of Propel for startups; aims to launch 50 Indian startups in global markets in 2024
The program brings together key stakeholders like VC partners, revenue-based financing partners, cross-border logistics & payments players and Amazon leaders to provide guidance and mentorship to Indian startups.
SP Jain Institute launches Wise Innovation Studio for Emerging Technologies
SPJIMR's WISE Tech fosters societal advancement through wise innovation with initiatives like accelerators, Entrepreneurship Fellowship, and Wise Innovation Conclave. Manoj Mohan leads the executive team, supported by R. Ramanan and Haresh Chawla from True North.
Vande Metro trial runs to begin in July 2024
The trains will focus on carrying passengers between large urban centres and satellite cities, running on existing tracks of Indian Railways. "Vande Metro trains are oriented towards high acceleration with frequent stoppages. These trains will have 12 coaches each, large automatic doors with side seats," an official working on the project told ET.
Flipkart Ventures to fund, mentor GenAI-based early stage startups
Flipkart Ventures' Flipkart Leap Ahead (FLA) programme accelerates early-stage startups with USD 200,000 to USD 500,000 equity investments, mentorship from industry veterans, and a focus on GenAI solutions for hyper-growth.
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