Beyond Financial News

Advanced Micro Devices is buying a server company but has no plans to get into the server business. In the booming market for artificial-intelligence systems, that actually makes sense. The chip maker better known as AMD unveiled plans Monday to spend $4.9 billion to acquire ZT Systems, a privately held company that designs and manufactures servers and other types of data-center hardware.

gaming and animation in India is bright and Bengaluru is poised to be at the forefront, said Karnataka Minister Priyank Kharge on Monday. The government is committed to supporting startups and SMEs in the Animation, Visual Effects, Gaming, Comics, and Extended Reality (AVGC-XR) sector and establishing the state as a global hub for AVGC, he said. «Government is ready with funds and is willing to partner with anyone. In fact, I am seeing the AVGC industry as a foot in the door for electronics manufacturing for gaming accessories. So, it has the potential to create a parallel economy with respect to manufacturing as well,» said Kharge, who holds the portfolio of Information Technology. The minister unveiled the theme and poster for GAFX 2025, the 6th edition of one of India's most eagerly awaited gatherings in the gaming, digital media, and entertainment industries, which will be held between February 27 and March 1, 2025.

CW Advisors has unveiled the latest step in its national growth strategy with a landmark acquisition.

market regulator intends to expand the scope of its sustainable finance framework to include more products, a potential boost to ESG-labeled instruments in Asia. The Securities and Exchange Board of India will consult on introducing social bonds, along with sustainable and sustainability-linked bonds, to the current suite of environmental, social and governance debt. Plans also include adding eligible asset-backed securities and a requirement for independent external reviews of all ESG debt, according to a consultation paper released Friday.

incentive schemes even as it weighs various options such as lowering the sops if they’re not allocated more funds. The ministry has moved a note for the approval of the Expenditure Finance Committee (EFC) to extend to the Interest Equalisation scheme by five years, which is available for small businesses and products falling under 401 tariff codes, till August 31. The total outlay of the scheme is capped at Rs 750 crore. Separately, it has also sought that duty remission benefits granted to exporters, under the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme are extended beyond September.

By Joelle Hall

citizen scientists working with NASA's Backyard Worlds: Planet 9 project has discovered a mysterious object, designated CWISE J124909.08+362116.0, speeding out of the Milky Way at about 1 million miles per hour. This object, detected in data from NASA’s Wide-field Infrared Survey Explorer (WISE) mission, presents a unique challenge for classification due to its low mass and metallicity, suggesting it could be one of the oldest objects in our galaxy. This discovery underscores the significance of infrared astronomy and the valuable contributions of amateur astronomers to scientific research. The discovery of CWISE J1249 was made by Martin Kabatnik, Thomas P. Bickle, and Dan Caselden, who were participating in the Backyard Worlds: Planet 9 project. The project utilizes data from NASA's WISE mission, which mapped the sky in infrared light from 2009 to 2011. The citizen scientists spotted a faint, fast-moving object in the WISE images. Subsequent observations with several ground-based telescopes confirmed the object’s rapid movement. It is traveling at a speed of approximately 1 million miles per hour, which is so fast that it will eventually escape the Milky Way’s gravitational pull and enter intergalactic space.

Mint captures some interesting trends for you. India Inc faced headwinds in the June quarter as profits took a beating, growing at their slowest pace in five quarters. A perfect storm of factors, including higher costs, softening demand and a challenging high base dampened corporate India's spirits.

deep tech and space. Investing in such enterprises is not easy as it requires a deep understanding of sciences and a long investment horizon. Some of the companies it has invested in like CynLr, Ultraviolette and Agnikul are moving into the monetisation stage, and Speciale Invest is looking for the next big thing, says Arjun Rao, partner, Speciale Invest, in an interview with ET. Edited excerpts: When you started, there was little institutional money for deep tech in India. Things have changed. Has your approach changed too? Our initial thesis was that there is talent in the country for developing deep tech. From a demand perspective, there are enough problems to be solved, which will require deep tech companies to be built over the next decade and longer.

mpox and that she might be another case in a growing global health emergency. She also has no idea where to go to get medical help. This year's alarming rise in cases, including a new form of the virus identified by scientists in eastern Congo, led the World Health Organization to declare it a global health emergency on Wednesday. It said the new variant could spread beyond the five African countries where it had already been detected — a timely warning that came a day before Sweden reported its first case of the new strain. In the vast central African nation of Congo, which has had more than 96% of the world's roughly 17,000 recorded cases of mpox this year — and some 500 deaths from the disease — many of the most vulnerable seem unaware of its existence or the threat that it poses. «We know nothing about this,» Bagheni's husband, Habumuremyiza Hire, said on Thursday about mpox.

‘I am bored’ need not make parents recoil in horror Take, for instance, the Arthshila centres, run by the Takshila Foundation, which is helmed by the father-daughter duo of Sanjiv Kumar and Setika Singh. Envisaged as an immersive platform for artistic expression and creative experiences for people of all age groups, Arthshila has centres in Ahmedabad and Santiniketan, launched in 2021 and 2022, respectively, besides one other in Delhi, which was launched in January. These are open spaces, with curated programmes across disciplines, that hope to democratise art.

Taiwan tracked 13 Chinese aircraft and seven Chinese vessels around its territory until 6 am on Saturday. According to Taiwan's Ministry of National Defence (MND), 12 of the aircraft crossed the median line and entered Taiwan's northern, south-western, and eastern air defence identification zone (ADIZ). It added that Taipei has monitored the situation and «responded accordingly.»

NEW DELHI : Indian business over the years has had very few mavericks with the mix of audacity and controversy that Ramakrishna Dalmia, the founder of the Dalmia group, did. As much a product of his times as an architect of his destiny, he was a defiant and towering figure, his life a potent cocktail of outsized personality, political ambition and shrewd financial dealings. To that, he added strategic alliances, including his little-known piquant friendship with his neighbour Muhammad Ali Jinnah.

(This story originally appeared in on Aug 17, 2024)

Nemo Sum ($NEMO) is the newest meme token to hit the Ethereum chain, giving way to sweeping changes that are expected to underline decentralized finance (DeFi) in an unapologetically bold fashion. With the legendary team behind it that has introduced you to Shiba Inu, Nemo Sum becomes much more than just another Meme Token. It’s a movement; it’s a revolution ready to storm the crypto market. If you were too late for Shiba Inu’s meteoric rise, then Nemo Sum might just be your opportunity to tame the next storm in this bottle.

Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in...

Public spaces like hospitals have been found to be unsafe for women. What's more, the authorities' ability/willingness to go beyond lip-service and the motions has been brought into question.

Samir Arora, Founder, Helios Capital, says we cannot let go of pockets of flow by just believing that we are getting Rs 20,000 crore a month. The SIP numbers are good, but they are not what you think are. The actual net flows are not Rs 20,000 crore or more per month, they are only Rs 10,000 crore. For some reason, we are only talking about gross flows. When things go bad, things will become very bad if we ignore one big pool of money and more than that, ignore valuations and ignore bad news beyond a point. So one has to balance it. We have done it. I am sure fund managers are doing it. Everybody is saying valuations are expensive, and the markets are due for a correction but look at the ability of the market to shrug off bad news, what it did on election day, the Budget day, and what it has done post that black Monday 10 days ago. Samir Arora: Correct. One of course is flows, but it would look out of place if we were doing it independent of the world. So, basically, the mothership which is the US is also doing the same, not related to the budget or elections, but in general reacting to any bad phases and so it has recovered so well, Japan has recovered. But the FII flows have been quite negative and I think that is because these tax hikes have become untenable. Just to give you one number, the MSCI India Index in dollar terms is up over 17 percent year to date, whereas a $10 billion index is up 13%. So, over time, this is going to hurt and there will be some loss of FII investments in India.

Harvey Hunter is a Junior Content Creator at Cryptonews.com. With a background in Computer Science, IT, and Mathematics, he seamlessly transitioned from tech geek to crypto journalist.

Grab Holdings missed second-quarter revenue estimates due to slower growth in its mainstay food-delivery business and foreign exchange headwinds, sending its U.S.-listed shares down 5% on Thursday. Growth has been slowing at the Southeast Asian tech company after the pandemic-era surge in food-delivery demand, with Grab laying off 11% of its workforce last year in a major restructuring aimed at narrowing losses. Sales from the deliveries business — its largest — grew 11% to $356 million, lower than Visible Alpha estimates of $362.1 million. That compares to growth of 19% in the first quarter, and a doubling of the business in certain quarters of 2023 and 2022.

Ola group of companies made a slew of product announcements, including electric bikes, quick commerce dark stores and computing chips, during their annual event “Sankalp” on Thursday. Listed electric scooter maker Ola Electric announced its first-ever range of electric motorcycles, called the Roadster. The Roadster has been launched in three different variations — Roadster Pro, Roadster and Roadster X — at introductory prices of between Rs 74,999 to Rs 2,49,999. All three models are open for registration. The cheaper Roadster X and Roadster models, with battery power ranging between 2.5 KwH (kilowatt hour) and 6 Kwh, will begin deliveries in the final quarter of the fiscal year 2025. The premium Roadster Pro, with 8 KwH and 16 KwH variants, will be available from Diwali 2025, i.e. around November 2025, founder Bhavish Aggarwal said.