Country Financial News

Investing.com-- Oil prices fell slightly in early Asian trade on Tuesday as traders awaited a slew of economic readings from major oil importers this week, while focus also remained on potential supply disruptions from Tropical Storm Idalia.

artificial intelligence (AI) usage gains prominence, countries will need to work on building their own capabilities in large language models and computing infrastructure to support sovereign AI capabilities, said IBM chairman and CEO Arvind Krishna, adding that the government could possibly consider investing in this area that will cost only «millions and not billions». “I am a firm believer that every country ought to have some sovereign capability on artificial intelligence, including large language models for AI,” said Krishna. The government needs to support setting up national AI computing centers and common data sets for specific use cases, he said. The 61-year-old Krishna, in India currently, was speaking during a media roundtable on Monday in the company's India headquarters in Gurgaon.

Glance, a smart lock screen platform from InMobi, is launching in Japan. It will partner with leading telecom carriers and Android smartphone brands in the country, Piyush Shah, president of Glance, told ET. Singapore-headquartered Glance has already expanded in Indonesia and is now eyeing the US market.

Investor appetite for shares of firms supplying equipment to the Railways has picked up in the past two weeks after Prime Minister Narendra Modi announced plans for the redevelopment of 508 railway stations across the country. On Monday, shares of these companies soared as much as 15%. While shares of Railtel Corp of India gained 15% on Monday, Texmaco Rail & Engineering surged 13%.

India has a tremendous opportunity to expand its manufacturing base due to the current supply chain relocation triggered by geopolitical situation, and the country should grab the opportunity with both hands, says Punit Renjen, CEO-emeritus of Deloitte Global and the incoming chairman of SAP. In an interview to ET's Surabhi Agarwal & Bodhisatva Ganguli, he also talks about his «second innings» at SAP, and how the enterprise software major will significantly expand its India base from the current 17-18% of workforce. He believes that this is India's century and AI will help India further bridge the skills and education gap. Edited Excerpts:How has the transition been from an audit/consultancy business to SAP, which is a storied enterprise software company? I'm a big cricket fan.

Exxon Mobil sees the world failing to reduce emissions fast enough to limit global warming to 2C (3.6F) above pre-industrial norms by 2050 due to soaring economic growth, particularly in developing countries.

BRASILIA (Reuters) — Latin America development bank CAF has offered $600 million in assistance to counter-guarantee payments for Brazilian exports to Argentina to secure trade flows, ministers from both countries said on Monday.

Virgin Australia chief executive Jayne Hrdlicka said allowing more competition from Qatar Airways would slash overseas fares by up to 40 per cent.

By Arriana McLymore

The National Sports Day in India is celebrated on 29 August every year. It is celebrated to commemorate the birth anniversary of hockey legend Major Dhyan Chand Singh. The day also serves as a reminder for all of us to recall the contributions, determination and extraordinary achievements of the athletes and their influence in shaping societies.

By Steve Holland and Jarrett Renshaw

By Jamie McGeever

Rising trade barriers

Fish auction prices at a port south of the Fukushima Daiichi nuclear power plant are mixed amid uncertainty about how consumers may respond a day after treated and diluted radioactive wastewater began to be released into the sea

Britain’s air traffic control system says it has fixed a “technical issue” that caused heavy delays and cancellations

China will no longer require a negative COVID-19 test result for incoming travelers, a milestone in its reopening to the rest of the world after an isolation that began with the country's borders closing in 2020

Reliance Jio will launch its fixed wireless access offering — Jio AirFiber — on September 19, Reliance Industries chairman Mukesh Ambani said. While Jio, with 50 million 5G users, is on track to have a pan-India coverage of the next-gen technology by December 2023, the telco will be among the first globally to develop 6G capabilities, he said. The launch of Jio AirFiber — coming shortly after rival Bharti Airtel commercially launched its own device — is expected to help expand Jio's addressable market over the next three years to over 200 million high-paying homes and premises, Ambani said, addressing shareholders of Jio's parent Reliance Industries at a virtual annual general meeting on Monday. «Our extensive optical fibre presence puts us in close proximity to over 200 million premises.

₹50,000 per family in ODF villages. “All these facts demonstrate the positive changes and well-being in rural India," Shekhawat said. India’s remarkable transformation in rural sanitation access—from 39% in 2014 to 100% today—is the world’s largest behavioural change campaign, he said.

NEW DELHI : Oil and Natural Gas Corp. (ONGC) Ltd is in talks with global entities including Malaysia’s Gentari to form a joint venture in energy storage, chairman and chief executive Arun Kumar Singh said, as the energy giant makes strides in its energy-transition journey. ONGC would look at both battery storage and pump storage projects (PSP), Singh said in an interview.

NEW DELHI : The El Nino phenomenon that developed in July has remained weak, but has affected rainfall in August due to changes in atmospheric conditions, India Meteorological Department (IMD) director-general Mrutyunjay Mohapatra said, adding it will turn moderate in September and remain strong till December. Mohapatra said below-normal rainfall is expected in the rest of August as well. In a wide-ranging interview, the IMD chief spoke of rainfall distribution and deficiency, forecast errors and extreme weather events.

NEW DELHI : Swedish furniture retailer Ikea is set to commence e-commerce operations in the national capital region (NCR) ahead of opening two large shopping centres over the next two years. E-commerce operations will begin by the end of 2024, said Susanne Pulverer, chief executive and chief sustainability officer at Ikea India. The Swedish company is now entering the next phase of growth in the country, marking its presence across major metros and scaling up local sourcing.