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Ukraine navy chief says Russia is losing Crimean hub in Black Sea
The Ukrainian navy chief reported significant setbacks for the Russian navy's Black Sea Fleet, as combat-ready warships have been relocated from Crimea due to extensive damage inflicted by Ukrainian missile strikes and naval drone attacks. The Sevastopol base, crucial for logistics, repairs, and ammunition storage, has been particularly affected. Despite ongoing military challenges elsewhere, Ukraine has successfully targeted Russian vessels and facilities, including using unmanned boats packed with explosives.
New PPI model in works, govt working on WPI base revision: DPIIT secretary
The industry department has developed a new Producer Price Index (PPI) model to better capture input prices, shared with the IMF, according to DPIIT Secretary Rajesh Kumar Singh. Moving towards PPI, consultations with MoSPI and necessary procedural clearances are ongoing, though no timeline has been provided.
Tesla Vs Tesla: HC orders mediation in trademark dispute between Musk's firm & Gurugram-based company
The Delhi High Court has directed Tesla Inc. and Gurugram-based Tesla Power India to mediate their trademark dispute. Tesla Inc. alleges that Tesla Power India's use of the "Tesla" trademark infringes on its rights, causing consumer confusion and harming its business. Mediation is scheduled for July 18, with a further hearing on September 18.
Reliance Jio & Airtel roll out new mobile tariffs. Here's the updated list of prepaid plans with prices & validity
Industry giants, Reliance Jio and Airtel, lead the charge with revamped tariffs, ensuring access to cutting-edge 5G services. The adjustments aim to align pricing with enhanced network offerings, setting a new standard in the competitive telecom landscape.
Three Theatre Command bases identified, Military Affairs Dept working to integrate forces for future wars
Prime Minister Narendra Modi confirmed progress on creating Theatre Commands as the Defence Ministry selected Lucknow, Jaipur, and Thiruvananthapuram as headquarters locations. The Department of Military Affairs, led by Chief of Defence Staff Genral Anil Chauhan, is working on over 150 integration points among the services for future multi-domain warfare. The plans include setting up Western Theatre in Jaipur, Northern Theatre in Lucknow, and Maritime Theatre in Thiruvananthapuram to address threats and enhance joint culture and work ethic.
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Sebi's levy order likely to erode Rs 2,000 crore from discount brokers' income, hit client base
Several brokerage companies, including IIFL Securities and Motilal Oswal Financial Services, saw share declines of 3% to 7% due to the regulatory order affecting brokerages, potentially leading to adjustments in zero-payment plans or increased rates.
NHAI to do GIS-based land acquisition for upcoming national highway projects
The National Highways Authority of India (NHAI) on Tuesday entered into an MoU with the Survey of India for development and validation of GIS-based land acquisition plan for upcoming national highway projects in the country. As per the agreement, the Survey of India will help develop standard operating procedures and in preparation of terms of reference for consultants preparing a detailed project report for land acquisition.
Airtel, Jio announce mobile tariff hike: Here is the full list of new prepaid and postpaid plans and prices
Mobile Tariff Hike: Airtel and Jio and have announced significant tariff hikes, marking the first major rate increase by a telco since 2021. Jio’s new rates, effective July 3, increase by 12-25%, while Airtel’s hikes start immediately. These adjustments aim to boost average revenue per user (ARPU) due to substantial investments in 5G services.
Amaravati Redevelopment Plan: Based on Singapore, 51% green cover, timeline and the cost
Following the triumph of the TDP in Andhra Pradesh Assembly elections, the Amaravati capital city project, which was shelved by the outgoing YSRCP government, is now being revived. The greenfield capital city is being envisioned to be an environmentally sustainable one, located between Vijayawada and Guntur cities, covering up to 29 villages. The government has said that Amaravati will be developed as one of the top five capital cities in the world. (Image: Foster and Partners website)
Putin ratifies plan to jointly build lunar base with China
Russian President Vladimir Putin has approved a plan to jointly build the International Lunar Research Station (ILRS) with China. The ILRS will include sections on the lunar surface, lunar orbit, and Earth, built in two phases. The first phase aims to establish a basic station by 2035, with expansion completed by 2045. Twelve countries and international organizations have joined the initiative. The project follows Russia and China's 2021 agreement and involves ambitious lunar missions starting in 2026.
MediaTek designs Arm-based chip for Microsoft's AI laptops
Last month, Microsoft unveiled a new generation of laptops that feature chips designed with Arm Holdings tech, which provide enough horsepower to run the artificial intelligence applications that executives said were the future of consumer computing. The MediaTek chip is geared toward this effort.
Meta hit with privacy complaints over AI plans
A Vienna-based privacy group filed complaints against Meta in 11 European countries over unlawful AI data use. Microsoft announced a $3.2 billion AI investment in Sweden over two years, AMD unveiled new AI chips to challenge Nvidia, and Cisco plans a $1 billion investment in AI startups for secure AI services.
Kedaara-backed Ajax Engineering is said to plan India IPO
The concrete equipment maker is planning its IPO in Mumbai in the fourth quarter, said sources A listing could value the company at $1.2 billion, and the company aims to file a prospectus for the share sale by August.
How vegans can get enough protein? What ICMR says
Proteins are crucial for our body's growth and repair, and they come from both plant and animal sources. While animal-based proteins like meat, poultry, fish, eggs, and milk contain all essential amino acids, plant-based proteins are found in pulses like lentils, green gram, chickpeas, and soybeans. Additionally, nuts and seeds such as almonds, pistachios, and chia seeds also contribute significantly to protein intake.
Turkish inflation exceeds 75% but peak in sight
Turkish inflation jumped above 75 percent in May, official data showed Monday, but officials expect consumer prices to have finally peaked in a cost-of-living crisis that has dogged President Recep Tayyip Erdogan. Turkey has been battling soaring consumer prices that prompted Erdogan to drop his opposition to interest-rate hikes to combat inflation.
US-based Zeda plans to raise up to $200 million for India foray
US-based Zeda Holdings plans to raise $200 million for its India expansion, led by CEO Shri Shetty. The company uses 3D printing for orthopaedic implants.
SaaS company AiDash launches first ESOP buyback plan for employees
The company says the buyback, which comes on the back of its $58.5 million series C funding round, underscores its commitment to shared wealth creation.
Urban Company announces fifth Esop sale programme worth Rs 203 crore
Existing investors Vy Capital and Prosus Ventures, and Dharana Capital, an offshoot of Vy Capital, will be purchasing a majority of these shares from both current and former employees
NHAI's infra trust got $217.13 mn in FY24 from Canada Pension Plan Investment Board
Canada Pension Plan Investment Board (CPP Investments) announced investments totaling USD 217.13 million in the National Highways Infra Trust and USD 394.78 million in Interise Trust for road concessions acquisition. Additionally, they committed USD 100 million to Kedaara Capital Fund IV and USD 300 million to an India-based asset manager focusing on credit opportunities. The organization manages funds for over 22 million contributors and beneficiaries of the Canada Pension Plan, investing globally in various asset classes.
Hero MotoCorp plans to expand electric model range to increase customer base
Hero MotoCorp expands its electric two-wheeler segment presence with new models and plans for significant growth. The company aims to enter European and UK markets, launch new scooters, and accelerate growth for FY25 and beyond.
Vi mulls rolling out 5G on large scale in 6 months, plans up to Rs 55,000 cr investment in 3 yrs
Vi CEO Akshaya Moondra said the company's investment will focus on expanding and strengthening coverage in 17 priority circles to be competitive.
DXC Technology tumbles 18% as investors fret over latest restructuring plan
Shares of DXC Technology slumped 18% on Friday, after the IT services provider unveiled a new revamp and forecast fiscal 2025 revenue and profit below estimates.
M&M's Rs 12,000 crore electric plan has charged up Dalal Street
Mahindra & Mahindra's stocks surged on the back of surpassing estimates, unveiling ambitious electric vehicle plans, and a prospective target price upgrade. The company greenlit a hefty Rs 12,000 crore investment into its electric division over three years. It's advancing with producing its Born Electric lineup, aiming to launch six battery-powered SUVs by early 2027.
Govt looks to change base year for major economic gauges to FY23, revamp of key datasets also being planned
The base year provides a reference point for measuring changes in economic variables and comparing relative performances of indicators over time. For instance, real gross domestic product (GDP) growth is currently calculated with reference to FY12 prices.
British newspaper groups warn Apple over ad-blocking plans: report
British newspaper groups caution Apple about the 'web eraser' tool, expressing concerns over its impact on journalism's financial sustainability. NMA requests a meeting to address potential implications on editorial integrity.
Here's how China's Fujian aircraft carrier poses new challenges for Indian Navy
China's first domestically designed aircraft carrier, the Fujian, has completed its sea trials, showcasing advanced features like an integrated propulsion system and electromagnetic catapults. This development marks a significant stride in China's naval capabilities and underscores its efforts to enhance influence in the Indo-Pacific region. The Fujian's success paves the way for testing carrier-borne aircraft, including the J-35 stealth fighter, aimed for use on the Fujian. India, which operates two aircraft carriers, faces challenges in acquiring a larger carrier like the Fujian due to cost concerns, opting instead for a smaller carrier and considering new fighter aircraft acquisitions.
Mytek launches new AI-based platform to help contractors deliver infra projects on time
In a bid to revolutionise project planning in the construction industry, Mytek Innovations has introduced a groundbreaking digital platform utilizing open AI tools. This innovative system streamlines project completion, reduces costs, and facilitates funding applications for contractors and subcontractors, aiming to enhance efficiency and productivity in India's construction sector.
2024 forecast to set new record for electric car sales: IEA
IEA foresees 2024 as a groundbreaking year for electric car sales, especially in China. The global electric vehicle sector is poised for significant growth, driven by increasing investments in battery manufacturing and ambitious expansion plans by automakers.
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