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☆ ‘Cabs to get into space’: How this Indian startup wants to revolutionize satellite space travel
▼ + stars: | 2024-04-23 | by ( Amy Gunia | ) edition.cnn.com time to read: +7 min

But its private sector has played a limited role in space exploration, acting mostly as suppliers and vendors for its national space agency, the Indian Space Research Organization (ISRO). “Very few companies globally are able to make it to orbit yet.”Pawan Chandana, the co-founder of Skyroot Aerospace Skyroot Aerospace Pvt. As Indian space startups mature over the coming years, he expects the government to become a customer, enabling further growth. Many private space companies source income from governments, including Space X, which has raked in billions of dollars from US government contracts. In November 2022, Skyroot Aerospace launched India's first privately built rocket, Vikram-S. Skyroot Aerospace Pvt.

Persons: Vikram, ” Pawan Chandana, “, Pawan Chandana, Narendra Modi, ”, Susmita Mohanty, Skyroot, Chandana, ridesharing, Kari Bingen, Modi, Mohanty Organizations: CNN, Indian Space Research Organization, ISRO, Elon, SpaceX, Skyroot Aerospace, Skyroot Aerospace Skyroot Aerospace, . Ltd, McKinsey & Company, Economic, ’, LEO —, Vikram Sarabhai, Aerospace Security, Center for Strategic, International Studies, Deloitte, India’s, NASA Locations: India, United States, Hyderabad, Thiruvananthapuram, Singapore

☆ India general election 2024: Polls open in world’s biggest vote
▼ + stars: | 2024-04-18 | by ( Helen Regan | ) edition.cnn.com time to read: +4 min

CNN —Polls will open Friday for the first phase of India’s marathon general election, kicking off a vote in which Prime Minister Narendra Modi is seeking to win a rare third consecutive term. Challenging the BJP is India’s main opposition party, the Indian National Congress, and its newly formed INDIA alliance of parties. India’s Election Commission has imposed restrictions on media, including CNN, that limits the publication of reporting and analysis in the run-up to and during polling days. Supporters of India's opposition party, Indian National Congress (INC) during the election campaign in Puducherry on April 15, 2024. Among the most politically important states is Uttar Pradesh, home to 240 million people who vote in all seven phases.

Persons: Narendra Modi, Biju Boro, Modi, ”, Satish Babu, Mamata Banerjee, Dravida, Stalin, Altaf Qadri Organizations: CNN, Bharatiya Janata Party, BJP, Indian, Bharatiya Janata, United Nations Security Council, Indian National Congress, Getty, Dravida Munnetra Kazhagam, All, Trinamool, Tamil Locations: India, Guwahati, AFP, India’s, Puducherry, Lok Sabha, Uttar Pradesh, Lok, Tamil Nadu, Chennai, Dravida, INDIA, . West Bengal, Trinamool Congress, Nicobar Islands, Mizoram, Meghalaya, Nagaland, Myanmar, Manipur

☆ How India is challenging China as Asia's tech powerhouse
▼ + stars: | 2024-04-05 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +30 min

New Delhi has sought to woo foreign tech companies and has been increasingly successful, with giants like Apple increasing their presence in the country. Tom Chitty: For years China has been Asia's tech powerhouse where the world's electronics and some of the biggest companies on the planet are located. And I think India is in the very early stages, to put it quite bluntly, of trying to do that. Tom Chitty: India have got an election this year as well, which is going to be interesting to see what happens there. You know, India has aligned itself slightly more to the countries that are currently a bit more anti-China, shall we say?

Persons: Tom Chitty, Arjun Kharpal, It's, Let's, I'm, Arjun, You'll, We're, we've, what's, gunning, Narendra Modi, it's, Tom, Modi, Trump, Apple, COVID, there's, Taiwan's, that's, Karen Tso, China's, Tim Cook, Raghuram Rajan, We've, feasibly, India's, let's, he's, you've, we'll, I've, We'll Organizations: Apple, CNBC, China, India's, Foxconn, Micron, Tata Electronics, Taiwan's Powerchip Semiconductor Manufacturing Corp, Reserve Bank of India, CCP, Samsung, Bain, India, London Locations: China, Tencent, Asia, India, Delhi, Washington, Beijing, American, COVID, U.S, Brazil, Vietnam, Indonesia, Thailand, Taiwan, South Korea, Bangalore, Goa, Kolkata, Mumbai, Europe, Silicon, New York, Germany

☆ Nita Ambani is now the most powerful woman in Indian media
▼ + stars: | 2024-02-29 | by ( Diksha Madhok | ) edition.cnn.com time to read: +5 min

New Delhi CNN —Just a few months ago, Nita Ambani stepped away from frontline business to focus on philanthropy. Now, the wife of Asia’s richest man is back with the biggest job in the ferociously competitive world of India media. Nita Ambani will not be steering the media giant alone. Nita Ambani first stepped into the business limelight 10 years ago, becoming the first woman director on the board of Reliance Industries. With her new job title, Nita Ambani has become the most powerful woman in Indian media and entertainment sector, which is worth over $25 billion and growing rapidly.

Persons: New Delhi CNN —, Nita Ambani, Mukesh Ambani, Uday Shankar, “, ”, Ambani’s, Nita Mukesh Ambani, Bikas Das, —, Isha, Anant, Akash —, Akash, ” Nita Ambani, National Stock Exchange —, EY, Mihir Shah Organizations: New, New Delhi CNN, Disney’s, Reliance Industries, Disney’s Asia, Disney, Reliance Foundation, Indian Premier League, IPL, Reliance, Music, International Olympic Committee, Metropolitan Museum of Art, National Stock Exchange, Media Partners, Netflix Locations: New Delhi, India, Mumbai, Disney India, New York, Viacom18

☆ Russia wants to topple dollar dominance, but it isn't even able to deliver oil to India with alternative currencies
▼ + stars: | 2023-12-27 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

This delayed six cargoes of Sokol oil the IOC was supposed to receive from late November to December, Reuters reported, citing shipping data. It isn't immediately clear how much Sokol oil is stuck at sea due to the payment issue. AdvertisementIndia has emerged as a major buyer of Russian oil following swathes of Western sanctions against Moscow. This means that dollar trade with Russia is restricted — and this is important since the greenback is the international trade currency of choice. To be able to buy Russian oil, India insisted on settling trades in the rupee earlier this year.

Persons: —, Rosneft, It's Organizations: Service, Russian Sokol, Indian Oil Corp, Reuters, Business, United, UAE dirham, IOC, Business Insider, Sokol, Bloomberg, Moscow Locations: Moscow, Russian, United Arab Emirates, UAE, Sokol, India, Sri Lanka, Russia, Ukraine, China, Delhi, Beijing

[1/2] Apple iPhones are seen inside India's first Apple retail store during a media preview, a day ahead of its launch in Mumbai, India, April 17, 2023. While all manufacturers including Samsung (005930.KS) have agreed to India's plan, Apple is pushing back. Apple, whose India lobbying efforts are being reported for the first time, and India's IT ministry, did not respond to Reuters requests for comment. Renowned Apple analyst Ming-Chi Kuo has estimated 12-14% of iPhone production in 2023 will be from India, with the number set to rise to as much as 25% next year. In terms of market share, Apple accounts for 6% of India's booming smartphone market, compared with just about 2% four years ago.

Persons: Francis Mascarenhas, Apple, Narendra Modi, Ming, Chi Kuo, Prabhu Ram, Aditya Kalra, Susan Fenton Organizations: Apple, REUTERS, DELHI, European Union, Samsung, India's, Reuters, IT, Research, Indian, Consumers, Industry Intelligence, CyberMedia, Thomson Locations: Mumbai, India, New Delhi, U.S, KS, EU, PLI, China

☆ ChatGPT, Oppenheimer and Indian entertainment top the most-viewed Wikipedia pages in 2023
▼ + stars: | 2023-12-05 | by ( Sergio Padilla | ) edition.cnn.com time to read: +7 min

Given its massive surge in popularity, the page about OpenAI’s virtual chatbot ChatGPT was the most viewed page on Wikipedia this year, amassing more than 49.4 million page views. The Wikipedia entry about the series drew more than 38 million page views. Virat Kohli of India bats during the ICC Men's Cricket World Cup India 2023 Final between India and Australia at Narendra Modi Stadium on November 19, 2023 in Ahmedabad, India. The page for the league itself received more than 32 million views and the 2023 season receiving more than 20 million views. Chris Pizzello/APThe Oppenheimer film received more than 28 million page views, the page about real-life physicist J. Robert Oppenheimer himself received 25.6 million views while the Barbie film received 18 million.

Persons: New York CNN —, ChatGPT, ”, Anusha Alikhan, Alikhan, It’s, “ Oppenheimer, Virat Kohli, Narendra Modi, Gareth Copley, Jawan, Pathaan ”, Barbie ”, ” Barbie, Oppenheimer, Chris Pizzello, J, Robert Oppenheimer, Taylor Swift, Elon Musk, Lionel Messi, Andrew Tate, misogynist influencer, Tate, Barbie, Cristiano Ronaldo, Matthew Perry, Lisa Marie Presley Organizations: New, New York CNN, New York CNN — Wikipedia’s, Wikimedia Foundation, CNN, Indian Premier League, Cricket, ”, United Nations, Internet, Mobile Association of India, eventual, Australia, ICC Men's Cricket, Narendra, Getty, Men’s Cricket, Warner Bros, Los Feliz Theatre, Major League Soccer, Inter Miami, Premier League Locations: New York, ” India, India, United States, United Kingdom, China, Australia, Ahmedabad, Wikipedia’s, Los Angeles, Gaza, Ukraine, Hamas, Israel, Romania, ChatGPT, Water

☆ Russia's fraught rupee oil trade is a warning for countries trying to abandon the dollar
▼ + stars: | 2023-11-28 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

But trading in alternative currencies like the Indian rupee and the Chinese yuan has its own issues. Russia's oil trade best exemplifies the problems it has with alternative currency trade, as it accounts for about a quarter of Russia's budget. AdvertisementThe international oil trade is typically denominated in the dollar, but due to sanctions, less than 10% of Russia's daily oil trade is sold in the dollar and the euro, five traders told Reuters on Monday. Risks and complications of alternative currenciesRussia's oil trade with India is particularly problematic. To be able to buy Russian oil, India insisted on settling trades in the rupee earlier this year.

Persons: —, hasn't, Vladimir Putin, It's, Sergey Ivanov Organizations: Service, Reuters, United, United Arab Emirates Locations: Russia, Ukraine, Europe, India, China, Africa, Turkey, Delhi, Beijing, United Arab, UAE, Russian

HANGZHOU, China (AP) — The Asian Games offer a preview of what could soon be coming to the Olympics. India's women won the gold medal on Monday at the Asian Games, defeating Sri Lanka in the 20-overs format. WORLD RECORDIndia set the first world record of the Asian Games in the 10-meter team rifle event. NORTH KOREA MEDALNorth Korea, appearing in its first international multi-sport event since the 2018 Asian Games, took bronze on Sunday in judo. The Asian Games involves about 12,400 competitors from 45 nations and territories with 481 gold medals on the line.

Persons: That's, Sri Lankans, Minnu Mani, Hashan Tillakaratne, Cricket's, Rudrankksh Patil, Divyansh, Aishwary Pratap Singh Tomar, Chae Kwanglin, ___ Organizations: Games, Los Angeles Games, Brisbane, Asian Games, Sri, Bangladesh, ”, Asian, Cricket, Olympic, IOC, Olympics, Paris Games, WORLD, Indian, NORTH KOREA, China Locations: HANGZHOU, China, Sri Lanka, India, Pakistan, ” Bangladesh, North Korea, CHINA, Japan, South Korea, Indonesia

The India-led International Solar Alliance launched the Green Hydrogen Innovation Centre earlier this year, and India itself approved $2.3 billion for the production, use and export of green hydrogen. Global cooperation on green hydrogen manufacturing and supply is expected to be discussed by G-20 leaders at this week's summit in New Delhi. WHAT IS GREEN HYDROGEN? Boshell said just replacing this so-called gray hydrogen — hydrogen produced from fossil fuels — would ensure a long-term market for green hydrogen. And then we can add additional demand and applications of green hydrogen as a fuel for industries, shipping and aviation,” he said.

Persons: Francisco Boshell, Robert Howarth, Boshell, ” Organizations: Solar Alliance, Hydrogen Innovation, International Renewable Energy Agency, Energy, Commission, Cornell University, Action, International Energy Agency, AP Locations: BENGALURU, India, New Delhi, Abu Dhabi, Ithaca , New York

☆ Here are Wednesday's biggest analyst calls: Netflix, Apple, Dick's, Meta, Amazon, Charles Schwab & more
▼ + stars: | 2023-08-23 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Wednesday's biggest calls on Wall Street: Deutsche Bank reiterates Charles Schwab as buy Deutsche said it sees an even "more" attractive risk/reward for Schwab shares after Tuesday's sell-off. Morgan Stanley reiterates Apple as overweight Morgan Stanley said Apple has "surpassed MSFT as the most under-owned large-cap tech stock exiting the second-quarter." Bank of America reiterates Meta as buy Bank of America said it sees more upside for shares of Meta. Bank of America reiterates Five Below as buy Bank of America said it's standing by shares of the discount retailer. Bank of America downgrades Dick's to neutral from buy Bank of America downgraded the stock after its disappointing earnings report Tuesday.

Persons: Charles Schwab, Schwab, SCHW, Wells Fargo, Wells, Morgan Stanley, Apple, Oppenheimer, Brown, Forman, GM headwinds, Edward Jones, DUK, Avery Dennison, Davidson, Goldman Sachs, Goldman, Susquehanna, Marvell Organizations: Deutsche Bank, Deutsche, Signet, Netflix, GM, Edward, Bank of America, Meta, Barclays, Duke Energy, JPMorgan, UBS, " Bank of America, Infosys, India IT, Marvell Locations: AAPL, 4Q23, Louisiana, Pacific, LPX, India

☆ IndiGo shares surge after smaller rival Go First files for bankruptcy
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, May 3 (Reuters) - Shares of India's largest airline IndiGo (INGL.NS) surged over 8% on Wednesday as smaller rival Go First's bankruptcy filing raised hopes of market share gains and improved yields. Cash-strapped airline Go First filed for bankruptcy on Tuesday, blaming "faulty" Pratt & Whitney engines for the grounding of about half its fleet and taking lenders by surprise. Lenders to Go First, including Central Bank of India (CBI.NS), Bank of Baroda (BOB.NS), IDBI Bank (IDBI.NS) and Axis Bank (AXBK.NS) dropped 1.1% to 6.8% on Wednesday. Go First owes financial creditors 65.21 billion rupees ($798 million), its bankruptcy filing showed. Bombay Burmah Trading (BBRM.NS), which is also owned by Wadia and has given loans to Go First in the form of inter-corporate deposits, slid 10%.

[1/2] An Air India Airbus A320neo passenger plane moves on the runway after landing at Sardar Vallabhbhai Patel International Airport, in Ahmedabad, India, October 22, 2021. In another sign of the formerly government-owned carrier's whirlwind transformation under its new owner Tata Group, Air India is testing ChatGPT, OpenAI's popular chatbot, to replace paper-based practices. Air India is not only reworking every aspect of operations - from systems to supply chains - but integrating four Tata-related airlines, with Air India due to merge with Vistara while low-cost Air India Express and AirAsia India also converge. Airline mergers in India have had little success with Air India still hobbled by the botched integration of Indian Airlines in 2007. Air India's planes are already a mix of Airbus (AIR.PA) and Boeing (BA.N) jets with multiple cabin configurations.

☆ Eli Lilly, Apple and Salesforce each made news on Thursday — our Club takes
▼ + stars: | 2023-03-09 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +7 min

A trio of Club stocks — Eli Lilly (LLY), Apple (AAPL) and Salesforce (CRM) — are in the news Thursday. The news: Eli Lilly is ending clinical development for one of its older Alzheimer's drugs — known as solanezumab — following another failed trial. Eli Lilly shares have struggled so far this year, falling more than 13%. In a note to clients, the firm said Eli Lilly "remains one of our favorite names" in the industry. The Eli Lilly logo is shown on one of the company's offices in San Diego, California, September 17, 2020.

China's population is shrinking. This shocking statistic is only the start of China's population decline. This year India is set to surpass China's population, and in a few years it will surpass China's working-age population — people 20 to 69. Because of its manufacturing prowess and importance to supply chains, China's shrinking working-age population has enormous, direct effects on the global economy. Among today's largest economies, only the US has a projection of positive population growth, though at very low levels.

☆ Adani vs Hindenburg: India’s top businessman faces biggest test
▼ + stars: | 2023-01-31 | by ( Diksha Madhok | ) edition.cnn.com time to read: +9 min

So, how did a relatively young and small New York financial research firm manage to bring the Adani juggernaut to a juddering halt? Much of his fortune is tied up in the sprawling Adani Group, which he founded over 30 years ago. This is not the first time analysts have expressed fear that the rapid expansion of Adani businesses comes with huge risk. In its response, Adani Group said that the “leverage ratios” of its companies “continue to be healthy and are in line with the industry benchmarks in the respective sectors. Adani Group “is not going anywhere,” said Rajat Sharma, founder of financial advisory firm Sana Securities.

☆ Adani accuses short-seller Hindenburg of attacking India
▼ + stars: | 2023-01-30 | by ( Associated Press | ) www.nbcnews.com time to read: +1 min

On Monday, shares in some Adani companies recovered some lost ground. The flagship company, Adani Enterprises, gained 3.2% and Adani Ports & Special Economic Zone Ltd. added 3.3%. Adani’s 400-page rebuttal issued late Sunday accused Hindenburg of attacking India and its institutions and of breaking securities and foreign exchange laws. “We believe India is a vibrant democracy and emerging superpower with an exciting future. We also believe India’s future is being held back by the Adani Group,” Hindenburg said in a statement.

☆ India's Adani Group CFO says stocks rout similar to colonial-era massacre
▼ + stars: | 2023-01-30 | by ( Krishna N. Das | ) www.reuters.com time to read: +2 min

REUTERS/Francis MascarenhasNEW DELHI, Jan 30 (Reuters) - India's Adani Group has said a U.S. short-seller's report on the business house was a "calculated attack" on the country and its institutions while a senior executive has compared a rout of its stocks with a colonial-era massacre. Adani's finance chief, Jugeshinder Singh, likened the behaviour of Indian investors participating in the sell-off to the colonial-era Jallianwala Bagh massacre in Amritsar city. Hindenburg said in a statement on Monday that the Adani Group was trying to "lead the focus away from substantive issues and instead stoked a nationalist narrative". "In short, the Adani Group has attempted to conflate its meteoric rise and the wealth of its chairman, Gautam Adani, with the success of India itself," it said. Jawhar Sircar, a lawmaker from the opposition Trinamool Congress, posted on Twitter: "Since when is Adani = India?"

☆ Adani Group slams US short seller Hindenburg over fraud allegations
▼ + stars: | 2023-01-30 | by ( Diksha Madhok | ) edition.cnn.com time to read: +4 min

Since the release of Hindenburg’s report, Adani’s business empire has lost more than $70 billion of its stock market value. Fast expansionThe 60-year-old tycoon founded the Adani Group over 30 years ago, and is seen as a close ally of India’s current prime minister, Narendra Modi. In its response, the Adani Group portrayed the US short seller’s report as an “attack” on India and its investors. Hidenburg had concluded its report last week with 88 questions for the Adani Group. Adani Enterprises is aiming to raise 200 billion rupees ($2.5 billion) by issuing new shares this month.

☆ Citi has six reasons to buy Apple into the new year
▼ + stars: | 2022-12-21 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Apple has lost more than 20% this year, but Citi has six reasons to think the tech giant's stock will rise in 2023. Such headlines could provide a near-term stock pullback which we would view as a buying opportunity for Apple shares." The popular tech stock, which outperformed the S & P 500 from 2019-2021, has been pressure by this year's challenging macro environment. The note also highlighted regulatory risk, specifically recent reports that Europe may soon require Apple to allow alternative app stores on its iPhones and iPads. "Bears believe this would dramatically reduce app store revenues in Europe (~25% of total revenues) as customers will choose cheaper versions of the same app," Suva said.

☆ What do Indians think about Rishi Sunak’s rise? Like UK-India relations, it’s complicated
▼ + stars: | 2022-10-26 | by ( Rhea Mogul | ) edition.cnn.com time to read: +13 min

Now, an Indian-origin man has become the Prime Minister of England,” a Zee News anchor said. Leon Neal/Getty Images Sunak and Boris Johnson watch as a sheep is sheared during a visit to a farm in North Yorkshire, England, in July 2019. Danny Lawson/PA Images/Getty Images Sunak speaks during a general election debate in Cardiff, Wales, in November 2019. Hollie Adams/Bloomberg/Getty Images Sunak and Murty are seen with their daughters, Krishna and Anoushka, while campaigning in Grantham, England, in July 2022. Indian Prime Minister Narendra Modi suggested as much in a tweet welcoming Sunak’s appointment.

☆ Tata’s Potential—and Problems—Are Symbolic of India Itself
▼ + stars: | 2022-09-26 | by ( Megha Mandavia | ) www.wsj.com time to read: 1 min

On Friday, Tata Steel said it is merging seven smaller metal units with itself in a bid to reduce costs, simplify corporate structure and strengthen its balance sheet. One of India’s oldest businesses, Tata is getting into shape—an ambitious task given its unwieldy scale. Both the ambition and the monumental size of the undertaking are a reflection of the Indian business environment itself. On Friday, Tata Steel said it is merging seven smaller metal units with itself in a bid to reduce costs, simplify corporate structure and strengthen its balance sheet. Four are publicly listed.

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