GLOBAL CONVERSATION
Not as $trong, but $till $ignificant
Recent reports suggest that Saudi Arabia has shifted away from the US dollar in its oil trade agreements, deviating from the petrodollar system. Though these reports lack concrete evidence, they stir speculation in the global financial system. BRICS nations have also signaled intentions to reduce their dependence on the dollar, advocating the use of local currencies in cross-border transactions among member states.
Inclusive healthcare: H.E. Dr. Noura Khamis Al Ghaithi on Abu Dhabi’s vision beyond borders
In conversation with H.E. Dr. Noura Khamis Al Ghaithi, Undersecretary of the Department of Health – Abu Dhabi, who outlines the vision of the Abu Dhabi Global Healthcare Week (ADGHW) positioned to serve as an annual platform for inclusive knowledge-sharing and crafting collaborative strategies aimed at delivering positive patient outcomes.
Singapore is making life tougher for global talent
Singapore's 2022 points-based employment pass system, requiring a salary minimum for overseas employees, may affect its business hub status. It addresses local job concerns, crucial for the People’s Action Party's election prospects. The American Chamber mentions US firms' talent shortage. Ministry of Manpower notes local job growth and non-resident employment drop in 2024.
Koo founders on why the social media app is shutting down
Once considered as a rival of X (previously Twitter), Tiger Global-backed Indian social media app Koo is shutting down operations. the company founder Aprameya Radhakrishna said on social media. "As for us, we are entrepreneurs at heart and you will see us back in the arena one way or another. Till then, thank you for your time, attention, good wishes and love," Radhakrishna posted on LinkedIn.
India’s bid to make GPAI as AI regulator gets global support
India has emerged successful in making the Global Partnership on Artificial Intelligence (GPAI) the leading platform for international cooperation on AI governance. This includes establishing regulations and a unified global framework for responsible AI development and implementation.
India’s trade dependence on China, EU rose in Q1 of 2024, says UNCTAD
The UNCTAD nowcast predicts a stronger positive trend for the second quarter of 2024, projecting an approximate 2% increase for the first half of 2024. This increase is expected to add around $250 billion to goods trade and about $100 billion to services trade in the first half of 2024 compared to the second half of 2023.
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Strong ER&D demand helps IT buck overall soft hiring trend
India's $250 billion IT services industry is facing sluggish hiring, but a bright spot is emerging in Engineering, Research & Development (ER&D). Demand for ER&D services is surging, driving a 15% increase in recruitment for these roles. Staffing firms report that tech companies are ramping up ER&D hiring to stay competitive in the global market.
Premium sneaker stampede sweeps India off its feet and Adidas is game for it
The trend of premiumisation is gaining momentum in the footwear, watches, and gym apparel market, with consumers seeking quality, exclusivity, and a deeper connection with their brands. Adidas and Myntra have seen a 30-40% increase in premium options on their website, reflecting this trend. India's large population aspiring for better products and a natural consumer behavior of constantly seeking improvement are driving this trend.
US fintech platform TIFIN debuts in Indian market with conversational AI assistant MyFi
MyFi is a personalised product created specifically for India, taking inspiration from its successful US counterpart, Magnifi, as explained by Kiram Nambiar, cofounder and CEO of MyFi said. MyFi is compatible with Android and iOS operating systems, it is a subscription-based model with plans starting at Rs 299/month
Want a slice of AI pie? Here's what it will cost stock market investors
Retail investors are now viewing AI as a promising investment frontier, with significant potential for gains by investing in leading companies in this field. Nvidia, a maker of AI chips, has seen its stock surge threefold in the past year, making it one of the most valuable companies in the world with a market capitalisation over $3 trillion.
Sebi plans to cut red tape for global funds buying its bonds
Sebi is keen to eliminate many of its information requirements — such as disclosure of investor group and beneficial ownership — as these serve to regulate equity and corporate debt investors. Information required by the RBI and revenue departments would remain unchanged.
Economic benefits of investing in WASH for corporates
A noteworthy fact in the CSR spends of the past 5 years is the growing emphasis on healthcare, WASH and environment sustainability (JICA Report). This bodes well for achieving India’s net zero goals by 2070.
Oyo to use fresh funds for ‘enhanced business plan’ and global push
Oyo's shareholder approval includes issuing Series G CCCPS shares, as per the scrutiniser's report, to raise funds and increase authorized share capital.
Oyo's funding to finance global expansion, acquisitions: filings
ET reported on June 20 that Oyo has received shareholder approval for raising Rs 416.85 crore through preference shares in an extraordinary general meeting (EGM) held on June 18. The shareholders also gave their nod to increasing Oyo's authorized share capital from Rs 901.14 crore to Rs 1,341.14 crore.
G7 Summit: PM Modi has 'delightful conversation' with leaders of Turkey, UAE, Brazil; also meets Jordan King
Prime Minister Narendra Modi engaged in discussions with leaders from Turkey, the UAE, Brazil, and Jordan on the sidelines of the G7 Summit. PM Modi had a pleasant exchange with Turkish President Recep Tayyip Erdogan, UAE President Mohammed bin Zayed Al Nahyan, and Brazilian President Luiz Inacio Lula da Silva. The four leaders also took a moment to pose for a photo together during the Summit, which PM Modi shared on social media, highlighting the ongoing interactions in Italy.
G7 Summit: India to encourage peaceful resolution through dialogue, says PM Modi to Ukrainian President Zelenskyy
Prime Minister Narendra Modi met with President Volodymyr Zelenskyy of Ukraine at the G7 summit in Italy, discussing ways to strengthen bilateral relations and addressing the ongoing Russia-Ukraine conflict. PM Modi reiterated India's commitment to a peaceful resolution through dialogue and diplomacy. This marks their second meeting at a G7 summit, emphasizing India's role in global peace efforts. The summit, attended by leaders from major economies, focuses on key global issues and partnerships, highlighting India's active engagement on the world stage.
Nikhil Kamath to launch new segment on his podcast with Bill Gates as its first guest
India’s popular podcast "WTF is with Nikhil Kamath" announced a new segment, "People By WTF," featuring Microsoft co-founder Bill Gates as its first guest. Gates' episode, set to stream on June 14, 2024, will cover his technology experience, global health insights, and philanthropic efforts through the Bill & Melinda Gates Foundation. Gates and host Nikhil Kamath share a philanthropic bond, with Kamath committing 50% of his wealth to 'The Giving Pledge.'
Learn with ETMarkets: How inflation impacts INR & what currency traders should do?
The Indian Rupee (INR) is influenced by global economic trends, inflation, recession fears, and geopolitical tensions. Traders should monitor inflation, anticipate capital flows, and use hedging strategies in the forex market.
Will use AI tools to tackle growing instances of spam on WhatsApp: Meta’s Nikila Srinivasan
“From WhatsApp’s perspective, a core principle we follow is that anything has to be reliable and private. Anything that invades our privacy does not have any space on the platform. Our expectation from the businesses is that they have explicit permission before they reach out (to users),” Nikila Srinivasan, the company’s vice president of business messaging, told ET.
Vodafone Idea shares get big upgrade from UBS; stock up 5%
Global brokerage UBS upgrades Vodafone Idea to buy, setting target at Rs 18, citing potential relief on government dues and expected mobile price increase. Stock jumps over 5% to Rs 14.82.
What is 'Net Zero', anyway? A short history of a monumental concept
The G7 leaders recently committed to achieving net zero emissions by 2050, with the Albanese government in Australia introducing legislation to create a Net Zero Economy Authority to drive investment in clean energy. The concept of net zero, aiming to balance carbon emissions with carbon sinks, emerged from early climate negotiations in the 1990s. It gained traction in the late 2000s as a metric for assessing mitigation efforts and became a key goal of the 2015 Paris Agreement. However, challenges remain in ensuring fairness and equity between developed and developing nations, and in avoiding greenwashing by corporations.
Humans have been utilising natural resources to create a sustainable future since antiquity
Notre Dame is nearly 1,000 years old and has been damaged and repaired many times. Its last major renovation was in the mid-1800s. The massive beams that framed the structure were fashioned from European oak trees harvested 300 to 400 years ago.
Lecturing India on human rights would not work; conversation will: Indian-American lawmakers
Indian-American lawmakers, including Congressman Ro Khanna, Shri Thanedar, Pramila Jayapal, and Dr Ami Bera, have emphasized the importance of having a conversation with India's leadership to raise concerns about human rights. Khanna argued that lecturing India on the issue of human rights is not productive and that a Trump presidency is not the same as Prime Minister Modi being in power. He also emphasized the need for a vibrant democracy with freedom of speech, press, and the ability to push back.
GPT-4o set to disrupt conversational AI, edtech and call centre business
ChatGPT creator OpenAI announced the launch of GPT-4o, its newest flagship model, during a livestream on Monday. Chief technology officer Mira Murati described GPT-4o as "much faster" and "improves capabilities across text, vision, and audio".
Hygiene brand Pee Safe launches chatbot to increase awareness and help shoppers
Pee Safe introduces PeePal, an AI-driven chatbot, to enhance personal hygiene shopping and educate consumers. With the global conversational AI market projected to reach $14 billion by 2025, PeePal aims to personalize the shopping experience and empower users with hygiene knowledge. The initiative reflects Pee Safe's evolution from a single product to a comprehensive personal hygiene brand, addressing diverse consumer needs.
India and Germany fighting climate change together as they are facing challenging weather patterns, says Germany Consul General
India and Germany collaborate to address climate change effects, emphasizing the need for sustainable food systems. The Green and Sustainable Development Partnership focuses on aligning with the 2030 Agenda and the Paris Agreement to combat climate challenges.
MHA cancels FCRA licences of several prominent NGOs
The home ministry had granted a six-month extension to several NGOs listed above in September last year. The licences were cancelled on March 30 this year and they will neither receive nor utilise the foreign contribution until the certificate is renewed, officials added.
Modi-Putin hold telephone conversation on strategic partnership following Russian leader's reelection
Modi also spoke with the Ukrainian President Volodymyr Zelenskyy and reiterated India’s people-centric approach and called for dialogue and diplomacy as the way forward. Zelenskyy appreciated India's humanitarian approach. There are reports that the Ukrainian Foreign Minister might visit India at the end of this month.
Yellow.ai deploys 30% of global generative AI bots domestically
While markets like the US are mostly using GenAI for customer support in a bid to cut costs, India Inc. is using them as an opportunity to grow revenues, generate business leads and sales support, Yellow.ai cofounder and chief executive Raghu Ravinutala told ET.
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