INDIA DATA MANAGEMENT OFFICE
Thirst Trap: Water sustainability issues loom over India's booming data centre industry
India's data centre industry is booming, driven by significant investments from companies like Adani Enterprises. However, this growth raises concerns about the substantial water consumption needed for cooling in water-scarce cities. Operators are adopting alternative cooling technologies like air-cooled chillers to reduce water use. Despite these efforts, India lacks a national policy on data centre water usage. Experts call for sustainable practices to balance industry growth with water conservation.
India's forex reserves hit an all-time high of $657.16 bn
India's foreign exchange reserves reached a record high of $657.16 billion as of July 5, marking a significant increase of $5.16 billion from the previous week. This surge was driven by a rise in Foreign Currency Assets (FCAs), which grew by $42.29 billion to $577.11 billion. FCAs include holdings in currencies like the euro, pound, and yen, adjusted for their exchange rate fluctuations against the US dollar.
South India's data centre market to witness 65% capacity growth by 2030
South India's data center market is experiencing significant growth, particularly in key cities like Chennai, Bangalore, and Hyderabad. The region is expected to significantly impact the global data centre landscape with an anticipated 65% increase in capacity by 2030. The combined installed data center capacity in these cities is around 200 MW, with 190 MW currently under construction and 170 MW in the planning stages.
Eton Solutions onboards NR Narayana Murthy’s family office as first client
Eton Solutions announced Catamaran Ventures, associated with NR Narayana Murthy, as the first Indian user of its AtlasFive platform, managing $781 billion for 665 families globally. Deepak Padaki praised AtlasFive's efficiency. Eton, with 300 Bengaluru employees, plans a new GIFT City tech center. Satyen Patel cited India's financial emergence. Founded by Robert Mallernee, its international HQ is in Singapore.
RBI job data matches with govt's: SBI Report
The latest SBI Research Ecowrap report highlights that the Reserve Bank of India's KLEMS data and the Annual Survey of Unincorporated Sector Enterprises (ASUSE) employment numbers from the government closely align. According to the report, the RBI's KLEMS data estimates India's total labour force at 597 million, whereas the ASUSE survey by MoSPI puts it at 568 million, indicating a negligible difference.
Bengaluru office stock set to touch 330-340 mn. sq. ft. by 2030, highest in India
Bengaluru, leading India's office space to 330-340 million sq. ft. by 2030, shows a 41% GCC leasing share. Main areas include ORR, Whitefield, and North Bengaluru, with 15-16 mn sq. ft. annual absorption and competitive rents. The city’s ease of doing business and sector diversification like retail and aerospace boost its growth.
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India's forex reserves dip by $1.71 bn to $652 bn
India's foreign exchange reserves decreased by $1.71 billion to reach $652 billion as of June 28, according to data released by the Reserve Bank of India (RBI). The previous week had seen an increase in reserves by $816 million to $653.7 billion as of June 21.
Martech jobs on the rise as digital avenues become prominent in marketing
Digitalization has permeated all sectors, including marketing, which is now adapting to significant shifts in consumer behavior through the rise of marketing technology (martech). Martech blends marketing with advanced software tools to gain consumer insights and track marketing performance, ensuring organizational growth.
ICICI Prudential AMC buys office tower from Kalpataru in Mumbai for Rs 315 cr
ICICI Prudential Asset Management Company has acquired a commercial tower in Santacruz, Mumbai, for over Rs 315 crore from realty developer Kalpataru's subsidiary Ixora Properties. The tower, built on one-third of an acre, is expected to house the company's new head office. The deal is significant in the ongoing trend of leasing office space rather than buying it outright.
WeWork India appoints Janak Malkani to drive expansion in managed office business
WeWork India has appointed Janak Malkani as the head of managed office and sales for the West region. Malkani's extensive real estate experience will enhance WeWork India's managed office offerings, with a focus on innovative and efficient workspace solutions. WeWork India's flexible workspace market has seen significant growth, with a third of its business driven by the Managed Office portfolio, serving notable enterprise members.
Allied Blenders and Distillers IPO opens for subscription. Should you bid?
Allied Blenders and Distillers IPO, featuring Officer's Choice whiskey, will open for subscription with a price band of Rs 267-281 per share. Promoters will offload part of their stakes, and analysts caution against investing due to high valuation and financial risks.
US PMI data triggers sharp decline in gold prices
Gold prices surged to a two-week high of $2,366 following a second rate cut by the Swiss National Bank and weaker US data. Traders anticipate a move by the US Federal Reserve, especially after the European Central Bank's rate cut.
$8 trillion & counting! How Family Offices have grown and their impact on the investment world
The history of Family Offices dates back to ancient Rome, evolving into a modern-day necessity for managing wealth and ensuring smooth transitions across generations.
SLCM Group secures second Agri Reach application patent for real-time quality control monitoring in warehouses
SLCM acquires second Agri Reach patent for real-time quality control data monitoring in warehouses, bolstering agricultural ecosystem self-reliance.
Inflation, Fed meeting to give clues for US market direction
Investors await next week's inflation data and Fed meeting for signals on stock market trajectory amid conflicting economic signals. S&P 500's 12% YTD rise hinges on Fed's ability to manage inflation without hampering growth.
Wall St Week Ahead-Inflation, Fed meeting to give clues for US market direction
Political uncertainty may impact market stability. Early presidential debate raises concerns about 2024 election influence. Market attention shifts from economic data to political landscape.
Air India announces launch of non-stop services between Bengaluru and London Gatwick from August
With Bengaluru becoming the fifth Indian city to be connected to the UK's second-largest airport, Air India has announced that it will start non-stop services between Bengaluru's Kempegowda International Airport and London Gatwick (LGW), starting August 18 this year.
SAS India business to grow faster than other markets, top executive says
The company aims to upgrade its 400-odd customers to its generative AI platform SAS Viya over the next one year, Riad Gydien, executive VP and chief sales officer at SAS, told ET.
Lunar Timekeeping: How Nasa plans to synchronize moon missions
NASA and the European Space Agency (ESA) are working together to create a standardized time system for the moon. This initiative, part of the Artemis program, aims to coordinate lunar missions from various countries and private entities. The lack of a unified time zone on the moon presents logistical challenges, which this effort seeks to address by potentially using Coordinated Universal Time (UTC) or developing a new time scale tailored to the moon's unique environment.
India’s forex reserves down $2 bn to come off all-time record high
India's forex reserves fell by $2 billion to $646.67 billion as of May 24, according to the Reserve Bank of India (RBI). This decline follows a previous increase of $4.54 billion, reaching an all-time high of $648.7 billion on May 17. The reduction includes a $1.51 billion decrease in foreign currency assets, a $482 million drop in gold reserves, a $33 million dip in SDRs, and a $1 million decline in IMF reserves.
RBI going Hi-tech in regulation, risk management
The Reserve Bank of India is on a drive to raise the use of technology in key areas like supervision and risk management but flagged the downside risks and how widespread the challenges could be in the adoption of Artificial Intelligence and Machine Learning.
The rising importance of the chief trust officer
Businesses are emphasizing trust by appointing a Chief Trust Officer (CTrO) to oversee trust-building initiatives. This role involves assessing trust levels within and outside the organisation, focusing on domains like corporate culture, compliance, and customer experience.
Free food? Modi makes sure every Indian knows whom to thank for it
India's welfare programs are vast in reach and scope. Under the biggest, 821 million Indians are entitled to 5-kilogram (11-pound) sacks of free rice or wheat every month. The government started doling out grain to prevent hunger early in the pandemic and has since committed $142 billion to the program. Modi's face began appearing on the sacks in January.
Cyclone brewing in Bay of Bengal; moderate rainfall expected across Kerala
The Kerala Disaster Management Authority has forecasted moderate rainfall in several districts. Thiruvananthapuram is experiencing heavy rainfall, prompting alerts for various districts, and residents are advised to be cautious due to potential hazards like flash floods and landslides. A well-marked low pressure system intensifying into a depression in the central Bay of Bengal is likely to develop into a cyclone and cross the Bangladesh and West Bengal coasts.
US inflation data was accidentally released 30 minutes early
The US Bureau of Labor Statistics released Consumer Price Index data early, impacting Wall Street investors and central bank officials. The BLS statement mentioned the incident, raising questions about equitable data access. A month ago, an economist from BLS corresponded on key US inflation gauge data with major firms.
CapitaLand India Trust (CLINT) appoints Gauri Shankar Nagabhushanam as Chief Executive Officer-Designate.
Gauri Shankar Nagabhushanam is set to become the Chief Executive Officer of CapitaLand India Trust (CLINT) in August 2024. He brings over 20 years of experience in real estate private equity, fund management, and corporate finance. Previously, he served as CEO of India Business Park at CapitaLand Investment, overseeing the growth of business parks in India. Gauri holds a Master's in Finance from the London Business School and has worked with companies like Ascendas-Firstspace, Deloitte, TAIB Bank, and Samba Financial Group.
10 Best Paper Shredders in India: Comprehensive Shredding Solutions
Delve into the world of document security with our curated list of the top 10 paper shredders. From compact home office solutions to heavy-duty machines for corporate environments, we explore the features, capacities, and durability of each model. Discover the perfect balance of efficiency and reliability to safeguard your sensitive information effectively.
LS polls: Final voter turnout in Gujarat at 60.13 pc; down 4 pc from 2019
Gujarat's voter turnout for 25 Lok Sabha seats was 60.13%, down 4% from 2019. Valsad had the highest turnout at 72.71%, while Amreli had the lowest at 50.29%. The Bharuch and Banaskantha seats saw close battles.
LS polls: EC puts Gujarat voter turnout at 59.51 pc, says final figure likely to be more
According to Gujarat's Chief Electoral Officer (CEO) P Bharathi, the final voter turnout figures would be available by evening after the addition of postal ballot data. "Polling station-wise data is now being fed into the system and postal ballots are yet to be counted. So there will be a slight increase in the final figure, not much. This 59.51 per cent turnout is almost final," said Bharathi.
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