Events & Highlights

San Francisco-based Ankr, founded in 2017 by Chandler Song, Stanley Wu, and Ryan Fang, is a blockchain software tech firm specializing in Web3 infrastructure. Initially, the company functioned as a distributed cloud computing network that utilized surplus power for hosting blockchain nodes. However, it quickly evolved to offer platforms, products, and services that support decentralized applications and Web3 infrastructure. Ankr aims to provide a one-stop solution for all needs related to blockchain infrastructure and Web3 development. Chandler Song currently serves as Ankr’s CEO.

Apple is setting up its biggest iPhone manufacturing unit in India! This unit, which will be built by one of Apple’s global suppliers, Pegatron Corporation, is going to be located near Hosur in Bengaluru, and it’s going to create around 60,000 jobs and that’s not all – Apple has also increased its use of indigenous components from India, like printed circuit boards, camera modules, chargers, batteries, and earphones. This is great news for the domestic manufacturing industry, and it’s creating even more indirect jobs.

For years, Reddit’s Data API served as a training ground for AI language models, collecting a trove of human-to-human conversations dating back 18 years. However, in an interview with The New York Times, Reddit founder Steve Huffman announced that they would be restricting access to this valuable resource. According to Huffman – “We don’t need to give all of that value to some of the largest companies in the world for free”. This decision puts an end to unlimited access by academics, researchers and companies looking to train AI models.

Google Cloud’s popular BigQuery and Cloud Data Loss Prevention have both been updated. Datastream can effectively duplicate data with BigQuery’s change data capture and UPSETR upgrades. Cloud DLP has included templates to automatically analyze and categorize private data across language pairs. Google Cloud is upgrading its cloud architecture and providing clients with enhanced data management and security features.

Climate change, internet connectivity, and anti-terror efforts were all discussed at this year’s BRICS conference. The topics of climate change and emissions of greenhouse gases were widely discussed. The BRICS heads of state addressed plans to improve transportation and infrastructure to increase communication. The summit’s main topic was the fight against terrorism around the world. At the summit, emerging economies worked together to tackle pressing issues and build a more stable and secure future for their countries, the region, and the entire world.

China will be promoting the use of its currency, the yuan, as a global currency to decrease its dependence on the US dollar. It opens its financial markets, incentivizing the use of yuan in cross-border trade and establishing your-based clearing and settlement systems. Simultaneously it’ll promote more yuan-denominated financial instruments to diversify its financial offerings. China works with other countries to promote the use of the yuan and challenge the US dollar’s dominance, which could have significant implications for the global economic order.

According to the Economic Survey 2022-23, foreign corporations adjusting their manufacturing and supply chain strategies for resilience might become India the next global manufacturing hub. Godrej & Boyce Chairman, Jamshyd Naoroji Godrej, says manufacturing has problems. Lack of awareness of manufacturing industry complexity, the necessity for efficient factories, and supplier-manufacturer interdependencies are challenges. Fixing these challenges could make India a more attractive manufacturing hub for foreign enterprises.

The cryptocurrency market remained resilient despite the banking crisis that caused the collapse of SVB, Silvergate Bank, and Signature Bank. Bitcoin and Ethereum saw significant gains in early 2023. However, the U.S. is still working on meaningful regulations and oversight.

Over the past 13 years, the DoE has promoted energy-efficient and cleaner technologies, but progress has been slow. The High Court has often ordered air pollution reduction and brick kiln closures. In 2010, the DoE threatened not to renew kiln licenses after 2012 unless operators adopted greener procedures.

The “green bricks” revolution uses eco-friendly building advances to develop renewable buildings. This includes green building materials and procedures. Green building approaches reduce energy use and environmental impact. As environmental consciousness rises, the construction industry is using more green bricks derived from recycled or sustainable materials. The “green bricks” revolution promotes eco-friendly and sustainable buildings.

The BRICS countries—Brazil, Russia, India, China, and South Africa—want to create an alternative reserve currency and payment system to promote economic sovereignty and reduce reliance on the US-dominated global financial architecture. A unified BRICS currency might diversify trading partners, reduce currency volatility, and boost economic growth.

De-dollarization means abandoning the US dollar as the global currency for trade, finance, and reserves. After the 2008 financial crisis, governments tried to diversify and reduce dollar exposure, strengthening the movement. De-dollarization implies trading in other currencies, supporting regional currencies, increasing gold reserves, and establishing alternative payment mechanisms. Due to this tendency, global economic governance may multi-polarize, fracture, or collaborate.

ChatGPT can enhance its responses with input. GPT was trained using supervised and unsupervised learning and can adjust its responses based on user input. ChatGPT and other AI chatbots can have natural-sounding interactions with humans because they can learn from feedback.

Search engines and ChatGPT have different aims. Search engines aim to provide accurate results. ChatGPT aims to produce natural language responses to inputs. ChatGPT does not prioritize accuracy. A secondary goal, but not a guarantee.

Google’s Pathways Language Model (PaLM) is a behemoth of a model, trained with 540 billion parameters using the Pathways system. It has been evaluated on hundreds of language understanding and generation tasks, and it appears to excel in many of them. In addition to PaLM, Google has also developed LaMDA, a language model trained on a staggering 137 billion parameters. LaMDA is capable of producing up-to-date responses sourced from high-quality information.

The letter asks “Should we let computers overwhelm our information channels with propaganda and untruth?” Modern AI systems are now human-competitive at general tasks. “Should we lose civilization control?”. The Future of Life Institute urges AI labs to “immediately suspend for at least 6 months the training of AI systems more powerful than GPT-4.”

ChatGPT and GPT-4 scored 73.4 and 83.4 percent, respectively, compared to the user average of 73.7 percent. Multiple-choice questions were single-best.

Yes, Elon Musk and other tech leaders have called for a pause on the development of advanced AI systems that can compete with human-level intelligence. In an open letter from the Future of Life Institute, signed by Musk, Apple co-founder Steve Wozniak and 2020 presidential candidate Andrew Yang, AI labs were urged to cease training models more powerful than GPT-4, the latest version of the large language model software developed by U.S. startup OpenAI.

The RBI’s Weekly Statistical Supplement released Friday showed that foreign currency assets, a major reserve component, rose $4.38 billion to $509.728 billion for the week ended March 24. Foreign currency assets, expressed in dollars, include the effect of euro, pound, and yen appreciation or depreciation in foreign exchange reserves. The RBI reported $45.48 billion in gold reserves, up $1.37 billion.

Indian foreign reserves rose $5.6 billion to $578.778 billion in the week ended March 24, according to RBI data. In March 2023, the central bank bought dollars at reduced rates to stabilize the rupee, increasing reserves by roughly $17 billion.

Since Microsoft launched its new GPT-4-powered internet search chatbot, netizens seem to have shown a greater preference for Bing. This has led to a 15.8 percent increase in its web page visits. Bing was released on February 7 to a waitlist of interested individuals and has since attracted millions of users. Meanwhile, Google has been lagging behind, having just launched Bard last week on Tuesday.

Google’s recent announcement in Paris about the release of Bard as an early preview has finally come to fruition this week. This marks their foray into the ongoing AI-wars that have been the talk of the tech industry this year. However, things have not started off smoothly for Google as Bard appears to be unprepared to go head-to-head with ChatGPT. To make matters worse, Microsoft’s Bing previews seem to be quite impressive, complete with seamless integration with popular apps like Word and Excel.

The Budget Act for 2023 was approved by the Lok Sabha on 24th March. Among these are the establishment of a commission to examine the National Pension System, an increase of up to 25% in the securities transaction tax on the sale of futures and options contracts, and the elimination of the long-term capital gains tax benefit for debt mutual funds. In addition, as of April 1, TDS will be implemented for online gaming.

Dr. Jitendra Singh, the Union Minister of State for Science & Technology, recently declared in the Rajya Sabha that NASA and ISRO have collaborated in the development of an earth science satellite known as NISAR (NASA-ISRO Synthetic Aperture Radar). The main goals of this satellite are to construct, fabricate, and deploy a dual-frequency (L and S band) radar imaging satellite, as well as to investigate novel applications utilizing L & S Band microwave data, notably in studies on surface deformation, biomass structure on land, mapping and monitoring of natural resources, and research on the dynamics of ice-sheets, glaciers, forests, oil slicks, and other topics.

The recent failure of Silicon Valley Bank (SVB) has created instability in the Indian startup talent market because these companies had deposited around $1 billion with SVB. Despite having $209 billion in assets at the end of 2022, regulators shut down SVB on March 10 due to a run on the bank. Despite this, HR and staffing organizations in India are confident that the talent market will be unaffected by the SVB problem.

UBS (UBSG.S) is set to enter talks with Michael Klein to terminate a deal that would have seen the Wall Street dealmaker take control of much of Credit Suisse’s (CSGN.S) investment bank. UBS on Sunday agreed to buy rival Swiss bank Credit Suisse for 3 billion Swiss francs ($3.23 billion) in stock and agreed to assume up to 5 billion francs ($5.4 billion) in losses, in a shotgun merger engineered by Swiss authorities to avoid more market-shaking turmoil in global banking.

According to Hindenburg Research’s report on Block Inc., the company has wildly overstated its genuine user counts and has understated its customer acquisition costs. Former employees estimated that 40%-75% of the accounts they reviewed were fake or involved in fraud.

In response to Hindenburg Research’s report accusing Block Inc. of ignoring extensive fraud, Block has vowed to work with the Securities and Exchange Commission and explore legal action against Hindenburg Research for their factually inaccurate and misleading report.

Hindenburg Research recently published a report accusing Block Inc., formerly known as Square Inc., of ignoring extensive fraud. According to their 2-year investigation, Block has systematically taken advantage of the demographics it claims to be helping by facilitating a fraud against consumers and the government, avoiding regulation and misleading investors with inflated metrics.

The analysis predicts that in 2022, China and the European Union (EU) would each lower emissions by.9%, while India’s emissions will rise by 6% and those in the United States will rise by 1.5%. An increase of 1.7% was predicted for the remaining countries.

According to official data, as of November 22, 2019, the CCS facility had stored 300,000 tonnes of carbon dioxide. By 2050, the Japanese government predicts that the country would have stored between 120 and 240 million tonnes of carbon dioxide annually in underground facilities. Survey results reveal that 16 billion tonnes of carbon dioxide could be stored in Japan’s offshore territory.

Ishikari City, Japan, has established a 100-hectare Renewable Energy Zone in the Ishikari Bay New Port Area, the industrial hub of the Sapporo region, which is home to more than 760 companies and a working population of more than 20,000, with the goals of regional decarbonization and industrial concentration. This district is the first of its kind in all of Japan to run solely on renewable energy.

CEO Andy Jassy announced in a note to employees on Monday that Amazon plans to cut another 9,000 jobs in the coming weeks. Together with the 18,000 positions that were announced to be eliminated in January, this would be the company’s second-greatest round of layoffs.

The petrochemical facility in Mundra, Gujarat, that Adani Group is planning requires investment. Adani Enterprises Ltd (AEL), the group’s flagship company, formed its wholly-owned subsidiary Mundra Petrochem Ltd in 2021 with a capital investment of Rs 34,900 crore to build a greenfield coal-to-PVC plant on land owned by Adani Ports and Special Economic Zone (APSEZ) in the Kutch district of Gujarat.

UBS Group AG, which has been consolidating the Swiss banking industry through the acquisition of Swiss Bank Corp. for the previous quarter century, has swallowed Credit Suisse Group AG. Credit Suisse investors benefit from the protections afforded to senior bondholders.

World Bank defines foreign claims as the sum of cross-border claims and local claims from foreign offices denominated in all currencies. Foreign claims against the United States total $4,345 billion ($4,296.3 billion including guarantor claims) and $4,345 billion ($4,296.3 billion). The UK, meanwhile, has the second-highest level for these kinds of claims. In addition, it was noted that India has a very disciplined banking and financial sector because its ratio of foreign claims to domestic claims is the lowest of any country.

Banks in India must always keep their capital-to-risk assets ratio (CRAR) at or above 9% in accordance with regulations set by the Reserve Bank of India (RBI). Indian banks’ CRAR and CET1 ratios were 16% and 13% as of September 30th, according to the most recent RBI data that was provided in December.

Because of the importance of the banking sector to the Swiss economy, the constitution guarantees privacy for customers and deposits. In an Ordinance issued on March 19, 2023, the government of that country officially announced the merger of Credit Suisse and UBS, which came as no surprise to everyone. Despite the country’s notorious reputation for secrecy and lack of openness, the merger between the two banks was finalized without the approval of the shareholders of either organization.

According to Reuters’ analysis, Indian financial institutions are in a stronger position to weather economic storms than they were a few years ago when big bad loans and inadequate capital plagued them.

It’s been a month since the Bing chatbot was launched, and users have reported erratic behavior, causing discomfort. But, wait, there’s good news! Microsoft has taken action and introduced a new feature that allows users to adjust the bot’s personality tone. In response to unpleasant comments, Microsoft has implemented new rules that have been gradually relaxed over the past week, giving us hope that the bot will become a more pleasant experience for users.

Microsoft’s 100 million user record makes sense in the context of its fight with Google, which has more than 1 billion daily active users. Google is also responsible for 90% of the website traffic generated

It only took a few weeks for Microsoft’s Bing search engine to reach 100 million DAUs, following the introduction of the company’s artificial intelligence–powered Bing Chat. The number of individuals using Bing has increased annually, and the new Bing Chat function appears to be assisting Microsoft in expanding Bing’s user base to include people who have never used Bing before.

Microsoft has revealed that its Microsoft 365 subscription will soon include a new feature called “Copilot” that would bring an artificial intelligence layer to the company’s word processing, presentation, email, and team collaboration programs like Viva. Each app’s features will be slightly different, but they typically contain things like meeting reminders, document draughts that incorporate information scanning from other documents, spreadsheet analysis, email draughts, and transcript scanning to summarize meetings.

Losses on investments in failed supply chain finance group Greensill and hedge fund Archegos, whose founder Bill Hwang and three others have been charged with racketeering and fraud by US authorities following the fund’s collapse, drove the bank’s loss of 1.65 billion Swiss francs in 2020 to a loss of 2.7 billion in 2020.

Eleven of the largest banks in the United States, including Bank of America, Citigroup, JPMorgan Chase, and Wells Fargo, invested $30 billion in First Republic Bank. The financial institutions- namely Bank of America, Citigroup, JPMorgan Chase and Wells Fargo have agreed to give $5 billion each while BNY Mellon, PNC Bank, State Street, Truist, and U.S. Bank, have each pledged $1 billion. Goldman Sachs and Morgan Stanley have agreed to give away $2.5 billion.

A very few hours before the announcement from the European Central Bank, the banking behemoth Credit Suisse received a $54 billion bailout from Switzerland’s national bank. Credit Suisse has lost two CEOs in the past three years due to the company’s history of missteps and scandals.

In a shotgun merger arranged by Swiss authorities to avoid additional market-shaking instability in global banking, UBS agreed to buy rival Swiss bank Credit Suisse for 3 billion Swiss francs ($3.23 billion) in stock and agreed to bear up to 5 billion francs ($5.4 billion) in losses. As part of the agreement, the Swiss central bank would provide UBS and Credit Suisse with 100 billion Swiss francs in liquidity assistance, or around $108 billion.

For bottom-fishing long-term positional investors, the recent decline in quality equities may present a favorable buying opportunity. Recent analysts have claimed that the decline in Indian stock prices is largely due to emotional factors rather than underlying economic factors. As Indian banks are in good financial shape thanks to the oversight of the Reserve Bank of India, experts have advocated bottom fishing and purchasing quality auto, electricity and banking stocks (RBI).

The Financial Stability Board, an organization that keeps tabs on the world economy, has recognized Credit Suisse as a leading financial institution. This means that authorities fear its collapse might have far-reaching effects on the economy, similar to those caused by the 2008 Lehman Brothers bankruptcy. In the past 15 years.

According to a new analysis, approximately 200 banks in the United States could suffer the same fate as Silicon Valley Bank under certain market conditions (SVB). According to recent research by the Social Science Research Network, if half of all bank depositors suddenly withdrew their money, 186 American banks would likely fail.

According to OpenAI, GPT-4 is superior to its forerunners in three crucial areas: creativity, visual comprehension, and context handling. Proponents of GPT-4 claim that it vastly improves upon its predecessor in terms of user cooperation and the development of new ideas. It might be an imitation of the user’s writing style, a parody of their music, a screenplay, or a technical manual.

China’s central bank cut the amount of cash, which banks must keep in reserve in an effort to stimulate the economy as it gradually recovers from pandemic restrictions and a property market slump. The People’s Bank of China reduced the RRR for almost all banks by 0.25 percentage points, effective from March 27. The PBOC last cut the RRR in December by the same percentage.

Samsung Electronics said it will invest around 300 trillion won ($230 billion) by 2042 to create the world’s largest chipmaking base in South Korea. The project is part of a 550 trillion won private-sector investment plan revealed by the government. South Korea is reportedly seeking to improve supply-chain stability to become a major player in the non-memory chip field.

Data entry clerk, customer service rep, proofreader, paralegal, bookkeeper, translator, copywriter, market research analyst, social media manager, appointment scheduler, telemarketer, virtual assistant, transcriptionist, tutor, technical support analyst, email marketer, content marketer, recruiter are just some of the jobs that can be done by GPT-4.

India has one of the fastest rollouts in the world of 5G and by 2023-end, India will be ahead of most countries, said Ericsson CEO Borje Ekholm. Talking about India as a business destination, Ekholm said that India has strong pool of good software engineers. “That’s going to drive the next level of growth in India,” he further stated.

For years, Sweden has been warned that its dysfunctional housing market, plagued by under-supply and kept aloft by low rates and generous tax benefits was a risk to the wider economy. Now those risks are becoming reality. Households with big mortgages are reining in spending as interest rates rise and house-builders are pulling the plug on investment, tipping Sweden into recession. The country is set to be the only EU economy experiencing outright recession this year.

Eastern Libyan forces said that they have found about 2.5 tons of uranium declared missing by the International Atomic Energy Agency (IAEA). The 10 missing drums containing the natural uranium were recovered near the border with Chad, Libya’s self-declared Eastern Army which controls the eastern parts of the country.

Microsoft unveiled the Al-powered ‘Copilot’ system for its Microsoft 365 suite which consists of apps like Word, Excel, PowerPoint and Teams. Copilot will help users create presentations based on prompts, summarize key points discussed in a meeting, and draft emails, among other things. Microsoft said it’s currently testing Copilot with some customers but will expand it to more soon.

Volkswagen plans to invest in mines to bring down the cost of battery cells, meet half of its own demand and sell to third-party customers. The strategy aligns with a wider trend of carmakers seeking greater control over parts of the supply chain traditionally left to third parties, from energy generation to raw material sourcing, as they compete for scarce resources, they urgently need to meet electrification targets.

Every year, nations across the globe produce about 350 million metric tons of plastic waste equivalent to over 10 million fully loaded garbage trucks. Most of this plastic waste is either incinerated or sent to landfills whereas only a fraction of this waste is recycled and only 2% is traded internationally. Exporting spare waste helps to manage a part of the plastic emissions more cheaply and reduces pressure on local recycling facilities and landfills. Repurposing recycled plastics into goods is a far cheaper option for industries that rely on buying newly manufactured expensive plastics.

In 2023, the state of the global economy is expected to be no better than it is now. Russia’s invasion of Ukraine, supply chain disruptions, the precipitous rise in prices and tighter monetary policy around the world have all contributed to an unprecedented level of uncertainty. And certain economies including the US may be vulnerable to a mild recession or stagflation.

The gaming industry is set for expansion as cloud gaming, augmented reality and the metaverse become increasingly popular. These technologies will appeal to a broad range of demographics as they offer immersive and accessible experiences that can be enjoyed on various devices. Cloud gaming allows gamers to play high-end games on any device with an internet connection, while augmented reality enhances the real world with digital elements. The metaverse is a virtual world that brings together elements of gaming, social media and e-commerce.

As we approach 2023, global macroeconomic and geopolitical variables are emerging as the primary forces molding the semiconductor sector. The market worth of the top 10 global chip companies has dropped by 34% from US$2.9 trillion in November 2021 to US$1.9 trillion in November 2022 due to rising interest rates, high inflation, decreasing consumer confidence and tech-led stock market retreats.

In the coming years, sustainable infrastructure expansion will be essential to support the growing population and address the challenges posed by climate change. Balancing urbanization and climate change will require prioritizing public transport, and green spaces. New approaches to infrastructure development i.e., circular economy principles and public-private partnerships will be crucial for creating sustainable and resilient infrastructure for the future.

Research from ACI Worldwide for 2019 found that consumers in India have a lot of faith in online payment methods. It was observed in the study that 83% of Indian consumers would rather pay their bills digitally (online or via a mobile app) and that 64% of Indians actually do so. While only 32% of Indian clients have faith in traditional banks for digital transactions, 67% have faith in digital wallets, as shown by the report. Based on these numbers, it’s clear that digital payment systems have gained widespread acceptance among Indian consumers.

Climate change has significant impacts on agriculture. Reduced crop yield due to the adverse effects of increasing temperatures, changes in precipitation patterns, and extreme weather events such as droughts and floods can lead to food scarcity and a food security crisis. The negative effects of climate change on agriculture highlight the need for sustainable and resilient agricultural practices to ensure food security for future generations.

The demand for electricity in India increased by almost 8 percent in 2022, reaching more than 149.7 terawatt-hours (TWh). This was roughly double the rate of growth seen throughout the Asia Pacific region. Industries and businesses in India account for more than half of the country’s total yearly electricity usage.

Despite the potential growth of this industry, Women face unique challenges in the Web 3.0 realm. Lack of diversity in the sector and gender discrimination in funding are just two of the many obstacles women encounter that can make it harder for them to succeed in the decentralized web. It was noted that women make up only women 12.7% of the Web3 workforce, suggesting the need for greater diversity within the industry.

Metaverse is a platform where players can interact with each other and the game environment in real time. As technology continues to advance, it is bound that the gaming industry would also simultaneously grow. The global VR market is apparently increasing due to the expansion of the metaverse.

After the Indian government launched its Digital India program, back in 2015, with the objective of achieving a “faceless, paperless, and cashless” status. This led to a surge in the use of digital payments for every citizen which were affordable, convenient and secure.According to a recent study by PhonePe and Boston Consulting Group, the digital payments market in India is projected to grow more than triple from $3 trillion to $10 trillion by 2026.

A “Metaverse” is a computer-generated alternative reality. Virtual reality (VR) social spaces allow users to communicate with one another, discover new interests, and try out novel activities all in the same spot. When it comes to metaverse technology, India is swiftly becoming a world leader. One of the fastest-growing markets, the value of India’s virtual and augmented reality market is expected to reach $1.38 billion by 2025.

The Gulf is showing an increasing inclination towards sustainability. This is growing due to governments and companies investing in numerous renewables and sustainability programs.The 2040 Vision for Renewable Energy in Oman aims to increase consumption to 20 percent by 2030 and 35 percent – 39 percent by 2040; the Saudi Industrial Development Fund (SIDF) is funding renewable energy projects in the kingdom; and the United Arab Emirates (UAE) Net Zero by 2050 strategic initiative is a national drive to achieve net-zero emissions by 2050.

The industrial sector is one of the largest emitters worldwide, responsible for 20% of all carbon emissions and 54% of all energy used, as reported by the World Economic Forum.

Soon, collaboration with AI will be the standard rather than the exception. While AI may make some occupations obsolete, there are many systems that would be useless without human intervention. According to Gartner, by 2030, 80% of employees will routinely utilize clever AI technologies which are at 10% currently.

OpenAI’s GPT-3 uses 175 billion parameters, or variables, that the AI system has learned through its training and retraining. Its predecessor used just 1.5 billion. However, OpenAI’s GPT-4 has alleged that it will be far more powerful and capable than GPT-3. It has been claimed that its parameter count has been upped to the region of 100 trillion.

During its investigation, Hindenburg alleged that it was able to easily create fake Cash App accounts under the names of high-profile individuals such as Donald Trump and Elon Musk. It also made public records requests and claimed to have found evidence that Cash App was used to facilitate millions of dollars in fraudulent pandemic relief payments from the government. Hindenburg stated that these findings highlighted significant shortcomings in the company’s compliance processes.

Just focusing on chat GPT-3, took nearly 1.3GWh or about as much electricity as 120 US homes would consume in a year. Training this AI-generated 502 tons of carbon emissions or about as much as 110 US cars emit in a year. Google released its analytics on how much consumption is their AI segment leading to. It showed that Each year, Google’s AI consumes around 2.3TWh—enough energy to power a city the size of Atlanta for an entire year.

One AI model’s training can require as much energy as a hundred developed-world homes use in a year. The rapid growth of the AI business, however, has left researchers wondering how big of a role the technology actually plays in the world’s overall electricity usage and carbon emissions.

Global market researcher International Data Corporation (IDC) India projected that the value of public cloud services in India will reach $2.8 billion by the first half of 2022. Earnings from all SaaS (software as a service), PaaS (platform as a service), and IaaS (infrastructure as a service) suppliers are included (SaaS). Market value is predicted to increase by 23.1% annually over the following three years, reaching $13 billion by 2026.

Based on a survey by domestic information technology (IT) services firm Infosys’ Digital Radar 2023 report mentioned that around 23% of individuals, in comparison to 20%, preferred cloud services over Business intelligence platforms, artificial intelligence, and machine learning and automation.

Adani shares increased after Florida- and Australia-based boutique investment firm GQG Partners Inc. purchased Rs 15,446 crore worth of shares in four Adani Group firms, including Adani Enterprises Ltd. The loan repayment strategy of using cash balances and generating funds from business operations to repay its short-term debt and avoid any further damage to the group’s image. 

In tries to reel from the losses and allegations posed by Hindenburg research, a US short seller, Adani aims to sell a stake of 4-5%, worth $450 million, in Ambuja cement. This process is carried out by Adani in order to restore investors’ confidence in the conglomerate.