Month: November 2023

Tech Mahindra’s new sports cloud platform to have immersive experiences, metaverse gamification

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Earlier this week, IT services and consulting firm, Tech Mahindra announced plans to establish a sports cloud cloud platform in partnership with Amazon Web Services (AWS).

In a chat with CNBC-TV18, Jagdish Mitra, Chief Strategy Officer and Head of Growth at Tech Mahindra, said the cloud platform would have capabilities ranging from sports analytics to immersive experiences for sports fans via AR/VR experiences and metaverse gamificiation.

The company also said it had inked deals with top-rung sports teams like Punjab Kings and US-based football team Jacksonville Jaguars, both of whom will use the platform for fan engagement, sports analytics and extending their digital capabilities.

“The collaboration will enable us to offer use cases related to content and community engagement, customer data management and audience segmentation, sports analytics, and deliver immersive stadium-to-home fan experiences by leveraging augmented reality, virtual reality and metaverse gamificiation,” said Mitra.

CNBC-TV18 learns that Tech Mahindra’s role in creating and delivering these immersive and personalised experiences, could concurrently create new revenue streams by adding services tailor-made to specific audience needs.

A large part of this, of course, rests on fan engagement. “The sports cloud platform will enable sports organisations to remote with fans remotely by offering common digital capabilities like video, data and insights, to accelerate their digital transformation journey,” said Mitra, adding that the company would extend its expertise to other sports teams too.

The partnership comes amid a breakthrough era for sports viewing in India. With Jio Cinema’s ‘hype mode’ taking viewers closer to the sporting action, and American streaming service Fubo TV hinting at a foray into India, the sports-viewing market is slowly but surely seeing a marked shift that goes beyond run-of-the-mill sports broadcast.

Concurrently, the Indian Premier League is seeing teams heighten their fan engagement experiences and get more interactive with fans even as fantasy leagues have also begun working on immersive experiences, all of which is expected to fuel the growth of the sports-tech sector. “We believe the cloud platform is positioned to disrupt the sports-tech industry and garner greater growth for organizations as well,” said Mitra.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

JSW to take stake in MG Motor India as China’s SAIC dilutes holding

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Indian conglomerate JSW group will take a 35% holding in SAIC-owned MG Motor India, the companies said on Thursday, as the Chinese automaker seeks to dilute its stake in its Indian entity.

Chinese investments have faced increased scrutiny by the Indian government and SAIC Motor said in May that it planned to drop its ownership of MG Motor India to allow domestic entities to take a majority stake.

The agreement between JSW and SAIC was signed “with the objective of accelerating the growth and transformation of MG Motor in India,” the companies said in a statement.

The partnership will also develop other products and

explore improving charging infrastructure and expanding local sourcing, they said.

MG entered India in 2019 with plans to invest about $650 million. But New Delhi has sought to limit investments from Beijing after a 2020 clash between soldiers from the two countries on their disputed Himalayan border.

Last November, the government asked MG to explain why it made a loss in 2019-2020, its first year of operations.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Nuclear bombs and missiles market to reach $137.3 billion by 2032

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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From $81.7 billion in 2022, the global market for bombs and nuclear missiles will surpass $137.3 billion by 2032, registering a compound annual growth rate (CAGR) of 5.4%, according to a report by Allied Market Research. The Portland-based research firm’s projections may come as music to the ears of the defence sector firms after governments cut their defence spending to augment the budget on healthcare during the pandemic era and delays owing to lockdowns.

The report cites the increase in investments by governments and corporations amid an increase in cross-border conflicts such as the ongoing Russia-Ukraine war as the primary driving factors for market growth. The rise in nuclear testing and technology transfer is also cited as a key driver.

“Elevated geopolitical tensions often result in a heightened demand for advanced military capabilities, which may encompass nuclear weapons and missile systems. Nations directly involved or situated in proximity to the conflict may perceive the necessity of fortifying their defense capabilities, potentially instigating investments in nuclear arsenals and missile technologies,” the report noted.

The Inter-Continental Ballistic Missile (ICBM) segment is projected to post the highest CAGR of 7.1% from 2023 to 2032, as countries aim to fortify national security by acquiring the capability to target distant locations. The demand for modifying the existing warheads will boost the prospects of the 1,000 to 5,000 km segment, which is projected to post the highest CAGR of 14.6% from 2023 to 2032.

The greater than 5,000 km segment held the highest market share in 2022, accounting for more than four-fifths of the global nuclear bombs and missiles market revenue, and is estimated to maintain its leadership status throughout the forecast period.

Active weapons, however, accounted for the “lion’s share”—nearly three-fourths of the market in 2022, it said, due to evolving geopolitical threats and the need for modernisation to counter emerging challenges.

Among regions, North America is expected to dominate the market during the forecast period as there is an increase in the allocation of defense budgets for nuclear weapons and the rise in the testing of existing nuclear weapons such as missiles to maintain reliability and functionality.

The Asia-Pacific region is expected to witness the fastest CAGR of 14.6% from 2023 to 2032, owing to a rise in the development and testing of nuclear weapons such as missiles by countries in the region to maintain national security.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

India allows export of specified quantity of wheat, broken rice to five countries

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The government has permitted exports of specified quantities of wheat, wheat flour, and broken rice to five countries, including Bhutan, Mali, and Indonesia, a notification said on Thursday.

The quantity notified for Bhutan includes 14,184 tonnes of wheat grain, 5,326 tonnes of atta, 15.226 tonnes of maida/semoline, and 48,804 tonnes of broken rice.

Broken rice shipments are also permitted to Mali (1 lakh tonnes), Senegal (5 lakh tonnes in six months), Gambia (50,000 tonnes in six months), and Indonesia (2 lakh tonnes).

Also Read: Whirlpool Corporation plans to sell up to 24% stake in Indian arm next year

The export is permitted through National Cooperative Exports Ltd (NCEL), the Directorate General of Foreign Trade (DGFT) said in a notification.

NCEL is a company set up with cooperative societies as its promoters. Though exports of wheat and broken rice were banned to boost domestic supply, outbound shipments are allowed on the basis of permission granted by the government to certain countries to meet their food security needs and on request.

“Export of (wheat grain, atta, maida/semolina, and broken rice) food commodities are permitted through National Cooperative Exports Ltd (NCEL),” it said.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Bank of India raises fixed deposit rates across tenors

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Bank of India on Thursday (November 30) announced an increase in the rates of its fixed deposits (FD) for its customers, from ₹2 crore and above to less than ₹10 crore. The changed rates for fixed deposits with a maturity of 46 days to up to a year will come into effect on Friday, December 1.

BOI increased its FD rates for shorter period tenures, raising 46 days to 90 days tenure to 5.25%, 91 days to 179 days tenure to 6%, 180 days to 210 days tenure to 6.25%, 211 days to less than 1-year tenure to 6.50%, and 1-year tenure to 7.25% per annum. 

Earlier on November 1, the bank raised the rate of all deposits for amounts less than ₹2 crore for a two-year tenure. For FDs with 2-year terms for super senior citizens, senior citizens, and others, the bank is offering an interest rate of 7.9%, 7.75%, and 7.25%, respectively.

The bank said that the revised interest rates on FDs are applicable for domestic, Non-Resident (Ordinary) (NRO), and Non-Resident (External) (NRE) rupee term deposits.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

NMC forms panel to look into questions on live broadcast of surgeries

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The National Medical Commission (NMC) has constituted a committee to assess the implications of live broadcast of surgeries, the issue of consent of patients agreeing to undergo such procedures, and the claim that advertisements by corporate hospitals are the main motivation behind it. The various aspects of live surgeries will be debated upon and assessed, Dr Yogendra Malik, Member Ethics and Medical Registration Board of NMC said on Thursday.

The decision was taken during the 12th meeting of the NMC held during the day. He said the NMC has approved the formation of a committee to draft regulations as per NMC Act 2019 to streamline the process of counselling and avoid delays and seat blocking.

The committee will do wider consultations with all stakeholders, including states and state counselling agencies. The Supreme Court in October had sought responses from the Centre and others on a plea raising legal and ethical questions over live broadcast of surgical procedures, with the petitioners likening it to Virat Kohli batting and commentating at the same time.

The bench had said it will leave the issue to be considered by the NMC. Senior advocate Gopal Sankaranarayanan, appearing for the petitioners, said surgeries are being performed live with several people watching and asking questions of the doctors conducting the procedure.

The lawyer said live broadcasts of surgical procedures posed a huge risk to patients under the knife. He referred to a news report about the death of a patient whose surgery was being broadcast live, and said, in some cases, people from the lower economic strata are persuaded to agree to it. The petitioners have claimed advertisements and sponsorships were the main motivations for conducting such procedures.

Also Read:National Medical Commission allows non-biology students to take NEET-UG exam in 2024

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

16th Finance Commission Terms of Reference will not be expanded: Finance Secretary Somanathan

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Finance Secretary TV Somanathan clarified that the Terms of Reference (ToR) for the 16th Finance Commission would not be expanded. Emphasising the Centre’s decision to maintain simplicity in the ToR following feedback from various states, Somanathan highlighted that the announcement of the Chairman and members of the Commission is imminent.

The Finance Secretary elaborated on the states’ feedback, indicating that the consensus was that the Commission itself would provide the necessary discipline rather than an exhaustive set of Terms of Reference. Somanathan stressed that delving excessively into defining the Commission’s functions in detail was unnecessary.

“Nothing more will come on the FinComm ToR,” stated Somanathan, underscoring the consultations held with states and Union Territories (UTs) that led to the development of shorter Terms of Reference. The principle of “less is more” has been adopted to grant the Commission greater leeway and flexibility in its operations.

Somanathan highlighted the neutrality of the ToR, noting that they offer sufficient space for states to operate within. This approach aims to empower the panel to function more effectively without being bound by overly prescriptive parameters.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Tripura to bring 7000 hectares under palm oil cultivation by 2026-27

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Tripura government has set a target of bringing 7000 hectares of land under palm oil cultivation by 2026-27 financial year, a senior minister has said.

At present, palm oil plants are cultivated in 56.35 hectares of land in the northeastern state.

“To expand palm oil cultivation in the state, digital mapping was done in 2020 by the Indian Council of Agricultural Research (ICAR) and the Indian Institute of Oil Palm Research. In the process, 1,46,364 hectares of land were identified in the state.

“Of that, 7000 hectares of land would be brought under palm oil cultivation by 2026-27,” Agriculture Minister Ratan Lal Nath said.

To tap the potential, the Agriculture department has signed MoUs with Godrej Agrovet Ltd and Patanjali Food Private Ltd under the National Mission on Edible Oil, he said.

Nath said Godrej Agrovet Ltd has set up a nursery at Nalkata in Unakoti district.

“Godrej Agrovet has also brought palm plants from Andhra Pradesh and planted them on 52.01 hectares of land. The Patanjali Food Pvt Ltd has also planted palm plants in 56.35 hectares,” he said.

Claiming that the state has good potential in palm oil cultivation, the minister said the state has already sent 18 officers to Andhra Pradesh to impart training on palm oil cultivation.

“The department has already imparted training to 2123 farmers. Of them, 1076 have expressed interest in raising palm oil plants for better return,” he said.

The oil seed is found from a palm tree four years after plantation and farmers get it for 30 years.

“Since palm oil cultivation has potential in the hilly state, the Agriculture department will leave no stone unturned to explore the possibility. If the plan is successful, the farmers will be benefited in future,” he said.

The major oil palm growing states include Andhra Pradesh, Telangana, Tamil Nadu, Odisha, Karnataka, Goa, Assam, Tripura, Nagaland, Mizoram, and Arunachal Pradesh.

Countries like Indonesia, Malaysia, Nigeria, Cambodia and Thailand produce 90% of palm oil in the world, Nath added.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

FibreNet case: Supreme Court adjourns hearing on Chandrababu Naidu’s plea

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Supreme Court on Thursday adjourned until December 12 the hearing of TDP chief N Chandrababu Naidu’s plea seeking anticipatory bail in the FibreNet case. A bench of justices Aniruddha Bose and Bela M Trivedi deferred the matter, saying the judgement in another petition filed by Naidu seeking quashing of the FIR in the ₹371 crore skill development scam case is likely to be delivered soon.

During the brief hearing, senior advocate Siddharth Luthra, appearing for Naidu, a former Andhra Pradesh chief minister, said the initial arrangement against his arrest by the state police should continue. Senior advocate Mukul Rohatgi, representing the Andhra Pradesh government, assured the court that the arrangement will continue.

The top court had earlier asked the Andhra Pradesh Police not to arrest Naidu in the FibreNet case until it has delivered its verdict on the TDP supremo’s plea in the skill development scam case.

The state police had told the apex court on October 13 they will not take Naidu into custody.

The FiberNet case relates to alleged tender manipulation for allotting a work order under Phase-1 of the AP FiberNet Project involving ₹330 crore to a favoured company.

The Criminal Investigation Department (CID) of the Andhra Pradesh Police has alleged irregularities in the project right from awarding the tender to completion of the work, causing a huge loss to the state exchequer.

Naidu, 73, was arrested on September 9 for allegedly misappropriating funds from the skill development corporation when he was the chief minister in 2015, causing a purported loss of ₹371 crore to the state exchequer.

Also Read:Andhra Pradesh govt moves SC against bail to TDP chief Chandrababu Naidu in the corruption case

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow