India’s Ola Electric plans to file regulatory papers for its up to USD 700 million IPO before the end of October as the e-scooter maker fast-tracks its listing move, three people with direct knowledge said. Backed by investors including Singapore’s Temasek and Japan’s SoftBank, Ola Electric was valued at USD 5.4 billion in a recent […]
Microsoft’s product chief, Panos Panay, is set to depart from the technology giant, as announced by Rajesh Jha, the executive vice president, to employees on Monday. Panay is reportedly being hired by Amazon to oversee its hardware business. The move comes after Dave Limp, the longtime Amazon hardware chief, announced his plans to retire from the […]
India’s brick-and-mortar retail universe is bouncing back with strong leasing activity of 3.16 million square feet recorded in the first six months of the current calendar year till June, according to a study released by JLL on day one of the MAPIC India conference, Wednesday. Leasing activity in the retail sector was believed to have […]
Chinese conglomerate Alibaba has announced plans to make its artificial intelligence (AI) model, Tongyi Qianwen, widely available to the public. The Chinese regulatory has approved the plan, according to a news report published on its WeChat account. The report also mentioned that in the near future, an open source version of the large language model […]
Open Network for Digital Commerce (ONDC), an initiative of the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, Government of India and the Transport Department, Government of Kerala signed a Memorandum of Understanding (MoU) to expand the scope of the open mobility network in the State. Under this agreement, what began […]
Daniel Zhang, the former chief of Alibaba Group, has made the decision to step down from his role leading the company’s cloud division, introducing a new layer of uncertainty to China’s largest e-commerce company. This development comes just months after Zhang had agreed to take charge of the cloud division. The news of Zhang’s departure […]
Jio Platforms, a subsidiary of Reliance Industries, has joined forces with NVIDIA, a global leader in AI computing, to unveil an Artificial Intelligence cloud infrastructure to revolutionise India’s AI landscape. According to a media release by Jio Platforms, this collaboration is set to accelerate India’s progress in artificial intelligence, supporting the nation’s competitiveness and addressing […]
Exide Industries has announced a significant investment of over Rs 100 crore in its wholly-owned subsidiary, Exide Energy Solutions Ltd (EESL). The subsidiary specialises in the manufacturing of advanced chemistry battery cells. This announcement was made via a regulatory filing on Thursday. Exide Industries disclosed that the investment was made through a subscription to the […]
Swiss group Bühler is set to make a substantial investment of CHF 21 million (Rs 200 crore) over the next two to three years in India. The investment is part of the company’s strategic plan to enhance its manufacturing capabilities in the country and address the growing demands of a flourishing domestic market and customers […]
The Unified Payments Interface (UPI) has revolutionised India’s digital payment ecosystem and played a pivotal role in driving financial inclusion by bringing millions of unbanked individuals into the formal financial system, said RBI Governor Shaktikanta Das here on Monday. The RBI Governor was delivering the keynote address at the Grand Finale of the G20 TechSprint […]
