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Surge in Copper Demand due to EVs, AI, and Clean Energy

26Apr By PriyankaNo Comments

ANALYSIS, News

Surge in Copper Demand due to EVs, AI, and Clean Energy

The surge in demand for copper, driven by technological advancements such as artificial intelligence, automation, and the shift towards renewable energy and electric vehicles, has been highlighted. Copper cables, which conduct electricity, are particularly in demand. Graeme Train, the head of metals analysis at Trafigura, a Swiss-based company, estimates that a third of the 10 million tonnes of new demand will be generated by the electric vehicle sector. He also noted that another third will be used for electricity generation, transmission, and distribution. The remaining demand will come from areas such as automation, manufacturing capital expenditure, and cooling systems in data centers. The rapid production of electric vehicles and solar panels, along with grid investment in Chin...

Zomato Launches India’s First “Large Order Fleet” for 50 People

18Apr By PriyankaNo Comments

BUSINESS

Zomato Launches India’s First “Large Order Fleet” for 50 People

Bengaluru, 18th April 2024: Zomato India has recently introduced India's first large order fleet to meet the needs of group events such as parties, with the capacity to serve up to 50 people. CEO Deepinder Goyal made the announcement on the microblogging platform X, formerly known as Twitter, revealing that the company will be utilizing an "all-electric fleet" for delivering large orders. This decision was made in response to previous orders being handled by multiple regular fleet partners, resulting in a less than satisfactory customer experience. "We are excited to unveil India's first large order fleet, specifically designed to handle your group, party, or event orders with ease. This fleet is comprised entirely of electric vehicles, designed to efficiently accommodate orders for...

Apple’s iPhone Shipment Decline as Samsung Takes the Lead

15Apr By PriyankaNo Comments

News

Apple’s iPhone Shipment Decline as Samsung Takes the Lead

In the first quarter of 2024, Apple experienced a 10 per cent drop in smartphone shipments, facing tough competition from Android smartphone manufacturers. Data from research firm IDC revealed that global smartphone shipments grew by 7.8 per cent to 289.4 million units in the January-March period. Samsung emerged as the top phonemaker with a 20.8 per cent market share, surpassing Apple. Following a strong performance in the December quarter, where Apple surpassed Samsung to become the world's No.1 phone maker, the iPhone-maker slipped back to the second spot with a 17.3 per cent market share. Chinese brands like Huawei are gaining market share, contributing to Apple's decline. Xiaomi, a leading Chinese smartphone manufacturer, secured the third position with a market share of 14.1 p...

Singapore Government Raises Minimum Wages for Expats

18Mar By PriyankaNo Comments

News

Singapore Government Raises Minimum Wages for Expats

18th March, 2024: Singapore Government has implemented new regulations regarding minimum wages for foreign workers, particularly focusing on the Employment Pass (EP) policy. The Ministry of Manpower (MOM) has announced adjustments to the EP minimum qualifying salary, increasing it from $5,000 to $5,600 per month. This increment will be progressively raised with age, reaching up to $10,700 for individuals in their mid-40s. These changes aim to maintain equitable opportunities for local employees across all age demographics. The EP is a work permit that allows foreign professionals, managers, and executives to be employed in Singapore. The minimum qualifying salary for the EP is based on the top one-third of local PMET1 wages, ensuring that EP holders meet high-quality standards. The...

Tata Motors demerge its businesses into two separate listed companies

5Mar By PriyankaNo Comments

Automobile

Tata Motors demerge its businesses into two separate listed companies

The Board of Directors of Tata Motors Limited has approved the proposal of demerger of Tata Motors Ltd into two separate listed companies housing A) the Commercial Vehicles business and its related investments in one entity and B) the Passenger Vehicles businesses including PV, EV, JLR and its related investments in another entity. The demerger will be implemented through an NCLT scheme of arrangement and all shareholders of TML shall continue to have the identical shareholding in both the listed entities. Over the past few years, the Commercial Vehicles (CV), Passenger Vehicles (PV+EV), and Jaguar Land Rover (JLR) businesses of Tata Motors have delivered a strong performance by successfully implementing distinct strategies. Since 2021, these businesses have been operating independentl...

Tiger Woods Officially Ends 27 Year Old Nike Contract

11Jan By PriyankaNo Comments

News

Tiger Woods Officially Ends 27 Year Old Nike Contract

Jan 10, 2024: In a historic announcement that has sent shockwaves through the world of golf, Tiger Woods has officially called end of his legendary 27-year partnership with the iconic sportswear brand Nike. This significant move not only marks the end of an era but also raises intriguing questions about the future of both Woods and the sport itself. Taking to social media, Woods expressed his heartfelt gratitude to Nike co-founder Phil Knight, acknowledging his "passion and vision" that brought them together when he first turned professional. An exciting journey that began in 1996, shortly after Woods clinched his third consecutive U.S. Amateur Golf Championship, sealing a monumental five-year deal reportedly worth $40 million. Throughout the years, Woods has been the face of Nike, ...

5Jan By PriyankaNo Comments

CHINA

Tesla Recalls 1,617,643 Vehicles in China Over Safety Concerns

Beijing, 5th Jan 2024: In a recent announcement, the government regulator has mandated a recall of 1,617,643 Tesla vehicles, comprising both imported and domestically produced models. This recall affects various popular Tesla models, including the Model S, Model X, Model 3, and Model Y, manufactured between August 26, 2014, and December 20, 2023. Notably, this recall covers a significant portion of the vehicles Tesla has sold in China. The recall has been initiated due to two critical safety concerns identified by China's State Administration for Market Regulation. The first issue affects 7,538 vehicles and involves a problem with the door unlock logic control. Specifically, in the event of a collision, the non-collision side door latch may detach from the latch mechanism, leaving the ...

Nestle India set first stock split date; Big Opportunity for Investors

21Dec By PriyankaNo Comments

Market

Nestle India set first stock split date; Big Opportunity for Investors

Mumbai, 21st December, 2023: Nestle India, the owner of popular brands like Nescafe, Maggi, and Kit Kat, is set to proposed stock split. The board of directors of this leading FMCG company has announced that January 5, 2024, will serve as the record date for the previously announced stock split. On October 19, Nestle's board granted approval for a stock split in the ratio of 1:10. This means that each equity share with a face value of ₹10 will be divided into 10 shares, each with a face value of ₹1. The stock split will result in an increased number of outstanding shares, thereby enhancing the liquidity of the share. Taking into account the most recent shareholding pattern available on the BSE, promoter entities presently hold a 62.8% stake in the company. Foreign institutional investo...

24Nov By PriyankaNo Comments

ACQUISITION

Adobe acquired Rephrase.ai, AI-driven video creation startup

Adobe, the renowned software company, has recently acquired Rephrase.ai, an AI-driven video creation startup based in Bengaluru, making it their first generative AI acquisition in India. According to the Economic Times, Adobe plans to integrate Rephrase's technology stack and generative AI video capabilities into their native video-editing platform, Creative Cloud. This strategic move aims to enhance and expand Adobe's range of services. The acquisition of Rephrase.ai will empower Adobe to seamlessly incorporate AI-driven video content tools across their software suite. This comes at a time when corporations are actively seeking AI-powered solutions to complement their daily work processes. Rephrase.ai, founded in 2019 by Ashray Malhotra, Nisheeth Lahoti, and Shivam Mangla, all g...

Nepal Bans TikTok, Citing Disruption of Social Harmony

17Nov By PriyankaNo Comments

News

Nepal Bans TikTok, Citing Disruption of Social Harmony

In a recently held meeting, Nepal banned the immensely popular social media application, TikTok. The move comes in response to concerns regarding the app's impact on "social harmony" within the country. Foreign Minister Narayan Prakash Saud has announced the immediate enforcement of the ban. Minister Saud emphasized that the decision was crucial in order to regulate the usage of the social media platform, which had been causing disruptions to social order, goodwill, and the dissemination of indecent content. To foster accountability, the government has demanded that social media companies register and establish liaison offices in Nepal, fulfill tax obligations, and adhere to the nation's laws and regulations. While it remains unclear what specifically prompted this ban, speculation ...

India’s leading escooter player Ola Electric raises $385 Mn

27Oct By PriyankaNo Comments

FUNDING

India’s leading escooter player Ola Electric raises $385 Mn

Bengaluru, 27th Oct 2023: Ola Electric, a leading player in the electric vehicle (EV) industry, has recently secured an impressive funding amount of Rs 3,200 crore. This substantial investment comes from prominent investors, including Temasek and State Bank of India (SBI). In an official statement, Ola Electric proudly announced the successful conclusion of this funding round, led by Temasek and SBI. The company plans to allocate these funds towards the expansion of its EV business, as well as the establishment of India's inaugural lithium-ion cell manufacturing facility. This facility will be situated in Krishnagiri, Tamil Nadu. Looking forward, the Bangalore-based firm is eager to accelerate its growth trajectory in the EV market. Ola Electric aims to achieve this by ramping up it...

The Secrets Behind DMart’s Low Price Strategy

4Oct By PriyankaNo Comments

BUSINESS

The Secrets Behind DMart’s Low Price Strategy

Founded in the bustling city of Mumbai in 2002 by the visionary leader and investor R K Damani, DMart has emerged as a leading supermarket chain in India. With a humble beginning of stores limited to four states during its initial 15 years, the company has now expanded exponentially to encompass an impressive network of 336 stores across 72 cities in 11 states. In this article will find out the Secrets Behind DMart's Low Price Strategy which sets apart from its competitors like Reliance retail, Spencer, Star market etc. First Lets Understand DMart's Philosophy When it comes to retail giants, DMart has made a name for itself with its low price strategy. Shoppers flock to DMart stores, eager to snag great deals on a wide range of products. But what exactly is the secret behind DMart's...