Business

AI Advancing Faster Than Public Realizes, Says Dario Amodei Dario Amodei, CEO of Anthropic, has cautioned that artificial intelligence is progressing toward human-level capabilities far more rapidly than most people recognize, describing the shift as an approaching “AI tsunami.”Speaking on a podcast with Nikhil Kamath, co-founder of Zerodha, Amodei said societies around the world remain underprepared for the economic and geopolitical transformation that advanced AI systems could trigger.He likened the current moment to a tsunami visible on the horizon, suggesting that while its arrival is apparent, many continue to dismiss its scale and consequences.“It’s as if this tsunami is coming at us. It’s so close, we can see it on the...

TRAI Issues Fresh Recommendations for Upcoming Spectrum Auction New Delhi, February 24: The Telecom Regulatory Authority of India on Tuesday released detailed recommendations for the upcoming auction of radio frequency spectrum identified for International Mobile Telecommunications IMT services.The recommendations follow stakeholder consultations and further regulatory analysis, outlining the framework for auctioning spectrum across multiple frequency bands.TRAI has recommended that the entire available spectrum in the 600 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz, 2500 MHz, 3300 MHz, and 26 GHz bands should be put up for auction in the forthcoming exercise.Reclaiming Spectrum Under Insolvency Process In a significant...

SriLankan Airlines Plans Ahmedabad Entry Within Three Months New Delhi, February 24: SriLankan Airlines is set to strengthen its footprint in India with plans to launch direct flights between Colombo and Ahmedabad within the next three months. The move is part of the carrier’s broader strategy to deepen its presence in its largest international market.Subject to regulatory approvals, the airline intends to operate four weekly services connecting Colombo and Ahmedabad. Once operational, Ahmedabad will become the tenth Indian destination on the airline’s network.Currently, SriLankan Airlines operates 89 weekly flights from Colombo to nine Indian cities. With the addition of Ahmedabad, the total number of weekly services to India will...

Clean Max Enviro Energy Solutions IPO Subscribed 45% on Day 2; QIB Portion Fully Booked New Delhi, February 24: The initial public offering of Clean Max Enviro Energy Solutions, a commercial and industrial renewable energy provider, was subscribed 45 per cent on the second day of bidding on Tuesday, reflecting mixed investor participation across categories.Clean Max IPO Subscription Status According to data available on the NSE, the IPO received bids for 97,59,106 shares against 2,18,23,329 shares on offer.The qualified institutional buyers category was subscribed 1.21 times, indicating strong institutional interest. The non-institutional investors segment was booked 41 per cent, while the retail individual investors portion saw a...

India’s corporate landscape features several long-established enterprises that have chosen to remain privately held despite achieving significant scale. From media and finance to pharmaceuticals and engineering, these companies continue to report strong revenues and profits while avoiding public equity dilution and retaining promoter control.Here is a closer look at some of India’s prominent unlisted businesses and their latest reported financial performance.Bennett, Coleman & Co.: India’s Oldest Private Media Company Founded in 1838, Mumbai-based Bennett, Coleman & Co. remains India’s oldest private company operating without an IPO. The media group runs newspapers, radio networks, and digital platforms across the country.For...

253 Km Pipeline Target Unlikely to Be Met by March Agartala, February 24: The target of laying a 253 kilometre-long gas pipeline in Tripura under the Indradhanush Gas Grid project is unlikely to be achieved by March this year, an official said on Tuesday, citing unavoidable challenges.The pipeline is part of the larger Indradhanush Gas Grid initiative aimed at strengthening gas infrastructure across the Northeast. Once completed, the project is expected to enable the supply of CNG and LPG to various parts of Tripura.170 Km Pipeline Completed Across Five Districts According to the official, 170 kilometres of the gas pipeline have been laid so far in districts including North Tripura, Dhalai, Unakoti, Khowai, and West Tripura.In the...

First Union Cabinet Meeting Held at New Prime Minister’s Office New Delhi, February 24: Prime Minister Narendra Modi on Tuesday said that the newly constructed Seva Teerth, the new Prime Minister’s Office, will serve as a center of national service and citizen empowerment rather than a symbol of authority.In a post on the social media platform X, the Prime Minister announced that the first meeting of the Union Cabinet was held at Seva Teerth on the auspicious occasion of Yugabda 5127, Vikram Samvat 2082, Phalguna Shukla Ashtami.He described the meeting as historic and said several unprecedented decisions were taken in the interest of the country.Seva Teerth Built on Swadeshi Thought and Modern Vision Prime Minister Modi said Seva...

BKT Launches On-Highway Tyre Portfolio for Two-Wheelers and Commercial Vehicles Balkrishna Industries Ltd on Tuesday announced its formal entry into India’s domestic consumer tyre market with the launch of its On-Highway tyre portfolio, marking a strategic expansion beyond its established Off-Highway business.As part of this move, the company has committed an investment of ₹3,500 crore, equivalent to USD 400 million, to support manufacturing capacity expansion, advanced research and development capabilities, vertical integration, and the strengthening of its nationwide distribution network.The newly launched On-Highway portfolio includes purpose-built tyres for two-wheelers such as scooters and motorcycles, as well as medium and...

Sensex, Nifty Slide Over 1% as IT Rout Deepens on AI Fears and Trade Uncertainty Mumbai, February 24: Benchmark equity indices Sensex and Nifty tumbled more than 1 percent on Tuesday, weighed down by a sharp selloff in information technology stocks amid rising concerns over artificial intelligence disruption and renewed global trade uncertainties.Weak global cues, escalating US Iran tensions, and firm crude oil prices further dented investor sentiment, triggering broad based declines across sectors.Benchmark Indices End Sharply Lower The 30 share BSE Sensex plunged 1,068.74 points, or 1.28 percent, to settle at 82,225.92. During the session, it dropped as much as 1,359.93 points, or 1.63 percent, to hit an intraday low of 81,934.73...

Mumbai, February 24: India’s outstanding retail loans expanded sharply by 18.1 per cent year on year in the December quarter of FY26, reaching ₹162 lakh crore, driven primarily by a surge in gold-backed lending, festive season demand, and the impact of GST rationalization, according to data released by CRIF High Mark.The data highlights a broad-based rise across key retail loan segments, with gold loans emerging as the fastest-growing category during the quarter.Gold Loans Jump 44.1%, Outpacing Other Segments Loans secured against gold recorded a robust 44.1 per cent increase to ₹16.2 lakh crore, reflecting higher borrowing activity amid rising gold prices. The sharp rise in gold-backed lending played a central role in lifting...

Structural Challenges Emerge in Dhaka’s Global Trade Realignment New Delhi, February 24: Bangladesh, led by newly appointed Prime Minister Tarique Rahman, is navigating complex structural challenges as it seeks to balance its trade and strategic ties between the United States and China, both of which remain critical economic partners, according to a recent Nikkei Asia report.The report highlights that the terms of a proposed trade arrangement with the United States underscore the delicate balancing act Dhaka must perform as Washington and Beijing compete for influence in the country.US Trade Deal Signals Strategic Leverage While Washington is promoting enhanced market access, deeper security cooperation, and regulatory alignment...

New US Tariff Policy Reshapes Asia-Pacific Trade Outlook A uniform 15 percent US tariff announced by US President Donald Trump is expected to benefit several Asia-Pacific economies that were previously subject to higher country-specific duties, according to a report released Tuesday by Moody’s Analytics.The report noted that the impact on Japan, South Korea and Taiwan is likely to be limited, as existing tariffs on these economies already hover around the 15 percent level. However, China and much of Southeast Asia stand to gain under the revised structure, as the uniform rate could reduce the burden compared to earlier, higher levies.Supreme Court Ruling Alters Trade Negotiation Dynamics Moody’s Analytics said a recent US Supreme...

Trilateral AI Cooperation Targets Local Empowerment and Inclusive Growth New Delhi, February 24: A trilateral cooperation agreement on artificial intelligence signed between Italy, India and Kenya at the AI Impact Summit 2026 is set to promote AI-driven development across Africa, with a strong emphasis on local empowerment, sustainability and inclusive innovation, according to a new report.The report by AIBase.ng stated that the initiative is built on co-creation and African-led development. It aims to ensure that artificial intelligence tools reflect the social, economic and cultural contexts of African communities, rather than following externally imposed technology models.Unlike traditional AI partnerships that often rely on...

Energy expert Narendra Taneja has said that current crude oil prices are being supported largely by geopolitical tensions involving Iran rather than pure supply and demand dynamics.Speaking on the movement in Brent crude benchmarks, Taneja noted that if oil markets were guided strictly by economic fundamentals, prices would be significantly lower. “If you strictly adhere to supply and demand fundamentals, I see no reason for oil to be anything more than 58 dollars per barrel,” he said.Oil Prices Carrying a Geopolitical Premium According to Taneja, any price above 58 dollars to 60 dollars per barrel reflects a geopolitical premium linked to uncertainty surrounding Iran.He explained that ongoing discussions between the United States...

The Small Industries Development Bank of India has released the fifth edition of its MSME Outlook Survey for October to December 2025, highlighting stable business confidence across the micro, small and medium enterprises segment despite prevailing external risks.Composite MSME Business Conditions Index Holds Above Expansion Threshold The Composite MSME Business Conditions Index stood at 60.8 in Q3 FY26, marginally lower than 61.6 in the previous quarter. An index reading above 50 indicates an expansionary outlook, signalling that MSMEs continue to operate in growth territory even as certain sectors witness moderation.On a year-on-year basis, the M-BCI recorded improvement across both composite and sectoral levels, supported by a...

Leadership Reshuffle Signals Strategic Reset Suzlon Group has announced a major strategic repositioning under its new roadmap titled “Suzlon 2.0,” marking its transition from a wind turbine manufacturer to a comprehensive renewable energy solutions provider.As part of this shift, the company has appointed Ajay Kapoor as Chief Executive Officer. Co-Founder and Vice Chairman Girish Tanti said the renewable energy landscape has evolved significantly.“The market has shifted from a single source, whether it is wind or solar, to firm, dispatchable renewable energy hybrid projects,” Tanti stated, underscoring the company’s intent to align with changing demand dynamics.India’s Energy Transition at the Core of Growth Plans India’s...

Mumbai, February 24: Indian benchmark equity indices ended sharply lower on Tuesday, with the Sensex and Nifty falling over 1 per cent each, weighed down by heavy selling in information technology stocks amid concerns over artificial intelligence-led disruption and renewed global trade uncertainties.Investor sentiment was further dampened by rising global crude oil prices, escalating US-Iran tensions, and subdued global cues.Sensex Falls Over 1,000 Points, Nifty Drops Below 25,500 The 30-share BSE Sensex plunged 1,068.74 points, or 1.28 per cent, to close at 82,225.92. During the session, the benchmark tumbled as much as 1,359.93 points, or 1.63 per cent, to hit an intraday low of 81,934.73.The 50-share NSE Nifty declined 288.35...

Centum Electronics Ltd has secured a major defence contract from Hindustan Aeronautics Ltd for the design and development of Active Electronically Scanned Array radar systems for the Utility Helicopter Maritime platform, according to an exchange filing.The order marks a significant milestone for the defence electronics manufacturer and reinforces its growing role in indigenous aerospace and defence system development.Phase 1 Order Valued at ₹66 Crore Under Phase 1, Centum Electronics will undertake the design and development of AESA radar systems for the UH M platform over the next two financial years.The Phase 1 purchase order carries a base value of ₹66 crore, with a gross value of ₹78 crore inclusive of GST.The radar system...

Graphite electrode manufacturer HEG Ltd on Tuesday announced that its wholly-owned subsidiary TACC Ltd has entered into a long-term partnership with INOX Air Products Private Ltd for the supply of nitrogen to its upcoming manufacturing facility in Madhya Pradesh.Dedicated Nitrogen Plant to Be Set Up at Dewas Greenfield Facility Under the agreement, INOX Air Products Private Ltd will establish a dedicated on-site nitrogen plant at TACC’s greenfield manufacturing facility in Dewas. The facility is being developed to produce lithium-ion battery-grade graphite anode material.The nitrogen plant will be set up on a Build, Own and Operate model. The arrangement is designed to ensure a consistent, safe, and high-purity nitrogen supply...

Global financial markets opened the week on a guarded note as investors assessed fresh uncertainty around US trade tariffs and braced for a critical earnings report from semiconductor heavyweight Nvidia. The dollar slipped in Asian trading, while oil prices eased ahead of renewed US Iran negotiations scheduled for Thursday in Geneva.Tariff Confusion Clouds Market Sentiment Investor sentiment remained fragile after the US Supreme Court struck down President Donald Trump's emergency tariffs. In response, Trump announced a new 10 percent tariff on the rest of the world, which was subsequently lifted to 15 percent. The rapid sequence of decisions created confusion across global markets.Uncertainty persists over when the revised tariffs...