Business – Page 2 – The News Desk

Delhi-NCR Witnesses Supply of 3,614 Housing Units in January-March 2024, Gurugram Dominates: Report

17Apr

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Delhi-NCR Witnesses Supply of 3,614 Housing Units in January-March 2024, Gurugram Dominates: Report

Delhi-NCR witnessed new supply of 3,614 residential units in the first quarter of 2024. Since 2023 proved to be an exceptional year, setting a high bar, Q1 2024 witnessed a 30 per cent decrease in launches from the preceding quarter and a 54 per cent drop on a y-o-y basis, according to a report by Cushman & Wakefield.However, over the eight quarters of 2021-22, the region typically saw an average of 2,200 units per quarter, which makes Q1 2024’s figure 62 per cent higher than the average.Gurugram dominated supply with 44 per cent share primarily concentrated along the Southern Periphery Road (SPR), Golf Course Extension road, and NH8.Emergence of SPR as Gurgaon’s Coveted Realty HubIn the bustling cityscape of Gurgaon, the Southern Peripheral Road (SPR) stands out as the epitome of rea...

Birla eyes top three slots in financial services business

17Apr

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Birla eyes top three slots in financial services business

MUMBAI: Aditya Birla Group chairman Kumar Mangalam Birla has set an ambitious target for the financial services arm of the conglomerate to be among the top three players in each of its primary businesses - lending, asset management, insurance, and payments. Birla said this during the launch of Aditya Birla Capital Digital's new direct-to-customer app platform.He said that the platform would add three crore new customers in three years, almost doubling the existing customer base from 3.5 crore.Birla said that the group is now focusing on consumer-facing businesses. "The launch of new consumer-facing ventures marks the group's commitment to constructing a growth platform characterised by a unique confluence of strength and breadth. Just last month, we launched our paints business, with an i...

Microsoft invests in Arabic AI firm as U.S. tries to limit China’s sway

17Apr

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Microsoft invests in Arabic AI firm as U.S. tries to limit China’s sway

Microsoft plans to invest $1.5 billion in an Abu Dhabi-based artificial intelligence company, a deal that could limit China’s influence in the Gulf region amid rising technological competition with the United States.In a blog post Tuesday, Brad Smith, Microsoft vice chair and president, said the deal with G42 will deepen international ties for artificial intelligence while ensuring the technology follows “world-leading standards for safe, trusted and responsible AI.”“Our two companies will work together not only in the UAE, but to bring AI and digital infrastructure and services to underserved nations,” wrote Smith, who will join G42’s board of directors.Microsoft negotiated the deal with the governments of the United States and the United Arab Emirates for more than a year to ensure all ...

Transportation Dept. and State Attorneys General Will Look Into Airline Complaints

16Apr

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Transportation Dept. and State Attorneys General Will Look Into Airline Complaints

Transportation Secretary Pete Buttigieg on Tuesday announced a new partnership with more than a dozen state attorneys general to investigate consumer complaints against airlines.The partnership sets up a process for state attorney general’s offices to review complaints from travelers and then pass the baton to the federal Transportation Department, which could take enforcement action against airlines.“The support that’s being offered by state attorney general’s offices means that our capacity to protect airline passengers is expanding,” Mr. Buttigieg said at Denver International Airport, where he appeared with Colorado’s attorney general, Phil Weiser, a Democrat who is among those joining the partnership.The federal-state initiative is Mr. Buttigieg’s latest step aimed at improving protec...

Smartmatic and OAN Settle Defamation Suit

16Apr

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Smartmatic and OAN Settle Defamation Suit

The voting technology company Smartmatic reached a settlement on Tuesday in its defamation lawsuit against One America News Network, a far-right broadcaster, over the amplification of election falsehoods about the 2020 presidential election.The terms of the settlement were confidential.Smartmatic filed the lawsuit in 2021, accusing OAN of airing baseless claims that Smartmatic had been involved in rigging the presidential election through its voting machines.On Tuesday, a filing for a dismissal of the case with prejudice, meaning it cannot be retried, was submitted by Smartmatic’s lawyers to the U.S. District Court for the District of Columbia.Lawyers for Smartmatic and OAN did not immediately respond to requests for comment.OAN was one of several right-wing cable networks that broadcast ...

16Apr

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Business

Attend Women at Work Live May 16

April 16, 2024 We’ve planned a half-day of learning, guidance, and inspiration—all virtual. Here’s the agenda: Executive coach Dorie Clark on working with the ambition you’ve got right now, whether you’re making every effort to get promoted or are taking a break from striving. She’ll help you recognize when it’s best to slow down or ramp up. Organizational psychologist Ruchi Sinha’s latest research findings on trust: how to measure the amount felt between team members, and what to do if it’s imbalanced. Plus, she’ll explain the upsides of switching between different kinds of leadership styles, and she’ll illustrate how to do that. DEI strategist Lily Zheng on the power of data to correct discrimination, design fair processes, and demonstrate a company’s pro...

IMF raises India’s GDP growth forecast by 30 bps to 6.8% for FY25 | Economy & Policy News

16Apr

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IMF raises India’s GDP growth forecast by 30 bps to 6.8% for FY25 | Economy & Policy News

4 min read Last Updated : Apr 16 2024 | 11:34 PM IST The International Monetary Fund (IMF) on Tuesday raised India’s GDP growth projection for 2024-25 by 30 basis points to 6.8 per cent in its update to the World Economic Outlook (WEO), citing buoyant domestic demand. However, the fund’s estimate is below the 7 per cent growth projection by the government. “Growth in India is projected to remain strong at 6.8 per cent in 2024 (FY25) and 6.5 per cent in 2025 (FY26), with the robustness reflecting continuing strength in domestic demand and a rising working-age population,” the IMF said in its report. For India, according to the report, data and forecasts are presented on a financial year basis. For FY24, the IMF raised India’s GDP growth projection to 7.8 per cent, comp...

Crisil Q1 Profit Slips 5% to Rs 138 Crore

16Apr

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Crisil Q1 Profit Slips 5% to Rs 138 Crore

Last Updated: April 16, 2024, 18:15 ISTCrisil's expenses increased to Rs 563 crore during the quarter against Rs 539 crore in the year-ago period.Crisil's consolidated total income rises to Rs 751 crore for the quarter ended March 31, 2024, from Rs 732 crore a year agoRatings firms Crisil on Tuesday reported a 5.4 per cent drop in consolidated net profit to Rs 138 crore for the first quarter ended March 31. The company had posted a net profit of Rs 146 crore in the same period last year.Crisil’s consolidated total income rose to Rs 751 crore for the quarter ended March 31, 2024, from Rs 732 crore a year ago, the company said in a regulatory filing. At the same time, expenses increased to Rs 563 crore during the quarter against Rs 539 crore in the year-ago period.Its board has also approve...

Tomorrow Capital invests in kidney start-up VitusCare

16Apr

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Tomorrow Capital invests in kidney start-up VitusCare

NEW DELHI: Tomorrow Capital, a $100 million VC fund, is investing $2.7 million in VitusCare as part of its Series A funding round. VitusCare, a kidney care start-up founded in 2017, has emerged as a player of quality dialysis care, particularly in regions where access to such services is limited, a company statement said. The fresh capital injection will empower VitusCare to aggressively expand its operations, with a targeted focus on deeper penetration into the hinterland. In addition, the funding round saw participation from existing investor 1Crowd, alongside support from 3i Partners and a consortium of angel investors, totalling approximately $5 million in funding across all the funding rounds. Tomorrow Capital, part of Lodha Ventures, has investments in healthcare, fitness and educat...

Ex-financial counselor pleads guilty in Army life-insurance scheme

16Apr

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Ex-financial counselor pleads guilty in Army life-insurance scheme

A former Army financial counselor accused of siphoning millions of dollars from deceased soldiers’ life insurance funds pleaded guilty in federal court Tuesday, accepting a deal with prosecutors that could put him in jail for years.After publication of a Washington Post investigation, federal investigators last year charged Caz Craffy, whose duties included providing basic financial guidance for Army families facing the loss of loved ones, with illegally exploiting his government job to produce clients for a brokerage firm where he moonlighted. With control over the accounts belonging to two dozen grieving families, authorities alleged, Craffy oversaw cumulative losses of $3.4 million stemming from shady trades that net him about $1.4 million in commissions.Craffy, 41, was charged with 10...