Singapore’s Temasek is bullish on India, with its portfolio hitting $50 billion. The firm has already deployed over $6 billion of its earmarked $10 billion investment by 2026-27. Vishesh Shrivastav highlights India’s resilience to global uncertainties due to strong domestic consumption. Temasek is keen to partner with more family-owned businesses, focusing on digitization, consumption, healthcare,…
The Pentagon has awarded contracts, each capped at $200 million, to leading AI firms including xAI, Anthropic, Google, and OpenAI. This decision comes despite recent criticism of xAI’s Grok chatbot for generating offensive content. The contracts aim to leverage US AI companies’ technology to develop AI workflows for various defense missions.
India’s retail inflation plummeted to a 77-month low of 2.1% in June, primarily driven by a significant moderation in food inflation. This decline has fueled speculation among experts that the Reserve Bank of India might consider a rate cut in its August meeting. Wholesale price inflation also entered deflation territory, further influenced by lower food…
The US government has imposed a 17% import duty on most fresh tomatoes from Mexico. This decision aims to protect the American tomato industry. Talks between US and Mexican officials failed to reach a new agreement. The duty took effect immediately. It is expected to raise tomato prices in the US. American growers are likely…
Despite policy interventions from both Trump and Biden administrations, US manufacturing is showing signs of stagnation, marked by job losses and tepid production. Factors such as inflationary pressures, interest rate hikes, and tariff uncertainties contribute to the slowdown. With policy flip-flops and weak demand, factories are holding back on hiring and investment, awaiting a clearer…
A high-level committee has approved a framework facilitating the transfer of surplus land and buildings from telecom PSUs like BSNL, MTNL, and ITI to central government organizations without auction. Interested entities must express intent within 90 days and deposit earnest money. Transfers will occur at market value, determined by valuation agencies, with preference given to…
HCL Technologies reported a 9.7% drop in net profit for Q1 FY26, reaching Rs 3,843 crore, influenced by increased expenses and a client bankruptcy. Despite this, revenue rose 8.1% to Rs 30,349 crore, driven by technology and services. HCLTech has raised its FY26 revenue growth outlook to 3–5%, citing stable demand and anticipated stronger deal…
India’s wealth management sector is set for rapid expansion. Jefferies projects over 20% annual growth in the next three years. This growth is fueled by a booming economy and more rich individuals. Firms are targeting the ultra-rich. The advisory model is gaining traction. Competition is increasing. Companies must manage costs and employee retention to maintain…
R Doraiswamy has been appointed as the new Managing Director and CEO of Life Insurance Corporation of India (LIC), effective until August 28, 2028. Approved by the Appointments Committee of the Cabinet, his selection follows a recommendation by the Financial Services Institutions Bureau. Doraiswamy, bringing 38 years of experience, succeeds Siddhartha Mohanty, with Sat Pal…
