business news

Prime Minister Narendra Modi wrapped up his spiritual pilgrimage to temples with a connection to the Ramayana in southern India, culminating his visit by offering prayers and performing rituals at a Lord Ram shrine near Arichal Munai in Tamil Nadu. This spiritual journey comes just ahead of the consecration of the grand Shri Ram temple in Ayodhya on January 22.

As anticipation builds for the historic 'Pran Pratistha' ceremony at the Ayodhya Ram temple, the iconic 27-storied residence of industrialist Mukesh Ambani, Antilia, has been transformed into a visual spectacle. Lit up with holograms proclaiming 'Jai Shri Ram' in Hindi and adorned with diyas, the opulent landmark building stands as a beacon of celebration.

OpenAI CEO Sam Altman is reportedly in talks to raise billions of dollars to establish a network of Artificial Intelligence (AI) chip factories for semiconductor manufacturing, according to Bloomberg. Altman has engaged in discussions with potential investors, including Abu Dhabi-based G42 and Japan's SoftBank Group. However, the talks are still in the early stages, and a comprehensive list of partners and funders for the venture is yet to be finalized.

In a significant development, Elon Musk's Starlink is on the brink of securing approval from the Indian government to launch its space-based broadband services in the country. Reports suggest that the Department of Telecommunications (DoT) is set to issue a Letter of Intent (LoI) to Starlink, with the approval anticipated in the next few days, potentially by early next week.

In a crucial development for the revival of the cash-strapped Jet Airways, the Supreme Court has issued a directive to the Jalan-Kalrock consortium, the new owners, to deposit ₹150 crore in the State Bank of India's escrow account by January 31. The court emphasized that failure to comply with this deadline would indicate a breach of the terms outlined in the resolution plan for the airline's revival.

IndiGo's CEO, Peter Elbers, has announced plans to conduct a thorough review of the airline's operations to prevent future disruptions, following the chaos passengers faced due to dense fog in northern India. Despite acknowledging challenges arising from the recent weather conditions, Elbers assured that flight operations are expected to return to normalcy by next week.

In a strategic move reflecting its commitment to a dynamic global approach, PepsiCo India has announced a significant leadership transition. Jagrut Kotecha, currently serving as the Chief Commercial Officer of PepsiCo Africa, Middle-East, and South Africa (AMESA), will take on the role of CEO for PepsiCo India. This change comes as part of the company's leadership reshuffling across AMESA, following Ahmed El Sheikh's shift to take on responsibilities for the Middle East branch after his successful seven-year tenure with the India team.

A growing number of U.S. states are suing Meta, alleging that the company's actions have harmed the mental health of young users. The lawsuit demands a court order to stop these practices and seeks civil fines for violations of state and federal laws. Meta, formerly known as Facebook, faces increased scrutiny over its impact on children's well-being.

Suzuki Motors has unveiled the next-generation Swift at the 2023 Japanese Mobility Show. While retaining its iconic design, the new Swift features updates like refreshed front-end styling and an upgraded cabin. The fourth-generation Swift is expected to make its debut in India in 2024.

In response to escalating heat in India, air conditioner ownership has surged, with the number of units per 100 households tripling since 2010, according to the International Energy Agency (IEA). The IEA revealed that the ownership rate currently stands at 24 units per 100 households, and this number is predicted to skyrocket ninefold by 2050. The rise in air conditioner usage has also had a significant impact on electricity consumption, with a 21% increase observed between 2019 and 2022. As a result, nearly 10% of India's electricity demand is now attributed to the cooling requirements of these devices.