business news

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.

India's economic growth continues to impress, with predictions by S&P Global Market Intelligence suggesting that it will become the world's third-largest economy by 2030, overtaking Japan. The country's robust growth is attributed to factors such as a burgeoning middle class, digital transformation, and increased foreign investment.

Paytm's CEO, Vijay Shekhar Sharma, introduces the 'VSS Investments Fund,' with a total fund size of Rs 30 crore, focusing on supporting Indian startups in Artificial Intelligence and Electric Vehicles, contributing to India's innovation and entrepreneurship drive.

Adani Total Gas Ltd. experiences an 85% stock valuation decline, confirming the earlier concerns raised by US short seller Hindenburg Research. Despite recent investments in other Adani companies, the city-gas distributor faces headwinds due to New Delhi's EV conversion policy.

In a surprising twist for apartment hunters in Bengaluru, a post about an individual who found a rental flat within a day is making waves on the internet. This "anti-peak Bengaluru moment" has garnered a flurry of reactions, showcasing a rare success story in the city's competitive real estate market.

A 2006 Amazon review of Tuscan milk by Jeff Bezos, the Amazon founder, has gone viral and garnered responses from various quarters, including a humorous reaction from Elon Musk. The unexpected resurgence of the review has captivated the online community.

The Reserve Bank of India (RBI) has fined L&T Finance ₹2.5 crore for failing to comply with specific provisions of non-banking financial company regulations. The penalty addresses deficiencies in compliance without making judgments on transaction validity.

Kotak Mahindra Bank has named Ashok Vaswani as its new CEO, succeeding founder Uday Kotak. Learn five essential facts about the seasoned banker and leader taking the helm of this private lender.

A committee under the Ministry of Electronics and Information Technology (MeitY) has proposed the establishment of the India Semiconductor Research Centre (ISRC) with an investment of $2.5-3 billion, aimed at bolstering India's position as a global semiconductor supplier. The ISRC will focus on semiconductor processes, advanced packaging, compound semiconductors, and Fabless design, with plans to commence operations in collaboration with industry and academia in 2024.

Social media platform X, formerly Twitter, is gearing up to introduce two new premium subscription tiers, one offering a lower cost with ads and the other providing an ad-free experience, as announced by owner Elon Musk.