Here are the top 11 news stories across business, global events, tech, and more.
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Elon Musk’s 2-Day India Trip: Engaging with space startups, addressing business leaders, and exploring Agra
Elon Musk is all set to visit India for a series of meetings and extensive interactions with government officials, startups and business leaders. The Tesla CEO is expected to spend at least 48 hours in India.
Musk is likely to meet the Prime Minister Narendra Modi on April 22 morning. Following the meeting, Musk could make an announcement on Tesla’s plans to enter the India market.The Indian government has been urging Tesla to invest and make electric cars in India not just for domestic market but for exports as well. Tesla, which has signed a deal with Tata Electronics for components, is likely to increase component sourcing from India for plants in Germany and Freemont.
Jubilant Pharmova to get its US generics business back to profitability through these measures
Jubilant Pharmova Ltd., has decided to shut operations of its subsidiary Jubilant Cadista Pharmaceuticals Inc., USA, due to mounting losses. The unit is likely to cease manufacturing operations on June 17, 2024, it said in an exchange filing.
The subsidiary is involved in the manufacturing of tablets and capsules for the US market and has the capacity to serve 1.5 billion doses. Jubilant Pharmova attributed the decision to significant pricing pressure in the US generics market, that led to losses at Jubilant Cadista since financial year 2022. The company did not disclose the quantum of the losses.
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Samsung launches AI-powered televisions starting at âč1.35 lakh
South Korean electronics giant Samsung has launched its latest line of AI-powered televisions at the ‘Unbox & Discover’ event held at the Samsung Opera House in Bengaluru on Wednesday, April 17. The 2024 lineup comprises the Neo QLED 8K, Neo QLED 4K, and OLED TVs.
JB Park, President and CEO of Samsung Southwest Asia, said, “Samsung is committed to integrating Artificial Intelligence across various product categories to enhance consumers’ lifestyles. By infusing AI into home entertainment, we aim to deliver exceptional viewing experiences to our customers.”
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#ExpertEdgeđĄ
Why inclusivity is still a mainstream conversation
In recent years, the concept of inclusivity has taken centre stage in discussions about workplace diversity and dynamics. This change in perception can be attributed to changing demographics and cultural shifts, the opportunities associated with meaningful change and the growing recognition of corporate responsibility and its impact on company reputation.
Diversity, Equity and InclusivityA recent survey conducted by Talent500 found that 70% of women in technology believe that the diversity, equity and inclusivity (DEI) measures undertaken by the industry are token gestures. Societal shifts have led to a more diverse workforce, with individuals from various backgrounds contributing their unique perspectives to achieving an organisationâs vision.
Bottomline: Why you should invest in gold
Gold does glitter. And returns from the yellow metal historically havenât been the kind to scoff at. So, while equities and debt are good assets to consider while building a portfolio, gold too deserves some allocation not just from a diversification perspective, but also from a currency risk mitigation point of view.
But letâs first look at a few key characteristics of gold as an asset class.Gold and inflation don’t sync we ran the numbers to check if the value of gold bears any correlation with consumer price inflation in the long run. It doesnât. Gold spot returns in USD when compared to Consumer Price Inflation (CPI) data in the U.S. show low correlation with a reading of 0.4, while gold spot prices in INR display an even lower correlation with our CPI data at 0.1. So, to suggest that gold prices go up when inflation goes up and vice versa may not be correct.
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Adverse weather hits Dubai flights; Air India, IndiGo, SpiceJet flights affected
Flights from India to Dubai have been disrupted significantly as heavy rains resulted in flooding of the emirate’s airport, also one of the world’s busiest airports. Air India, which operates 72 weekly flights from various cities to Dubai, and IndiGo cancelled their services on Wednesday.
Apart from Air India, Air India Express, Vistara, IndiGo and SpiceJet also operate flights from various Indian cities to Dubai, which is also home to a large number of Indian diaspora. An Air India spokesperson said due to the impact of adverse weather in Dubai, it had to cancel flights to and from the
Gulf nation on Tuesday and Wednesday.
#PersonalFinanceđ°
Women’s participation in investment assets grows, but gender gap persists
The participation of women in investment assets has been steadily increasing, according to data from the Association of Mutual Funds in India (AMFI). However, despite this growth, women’s involvement in financial assets remains relatively low compared to their male counterparts.
Several key factors contribute to this phenomenon, including fear, lack of support, and financial literacy. Ridhi Doongursee, co-founder of LXME, highlights the prevalent fear among women regarding investing in capital markets, often stemming from past negative experiences or perceptions of risk. Additionally, societal judgments and the absence of supportive environments further deter women from actively managing their finances. Moreover, time constraints due to familial responsibilities exacerbate the issue, leaving women with limited opportunities to educate themselves about financial matters.
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Curefoods and Rakul Preet Singh serve up a culinary delight with ‘Arambam’ restaurant launch
Renowned Bollywood actress Rakul Preet Singh has ventured into the culinary world with the launch of her first dine-in restaurant, ‘Arambam,’ in collaboration with F&B and cloud kitchen operator Curefoods. Situated in Madhapur, Hyderabad, Arambam promises a unique dining experience centered around millet cuisine and aims to promote healthy dietary practices and overall well-being.Ankit Nagori, the Founder of Curefoods, emphasised that they aspire to establish Arambam across 50 locations by end of 2025.
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