MUMBAI: State Bank of India is preparing to hire nearly 1,000 specialists in wealth management as customers show a growing preference for investment products over plain savings. The recruitment, announced through an advertisement for Specialist Cadre Officers, covers relationship managers and customer relationship executives, across major commercial centres such as Mumbai, Bengaluru, Chennai and Delhi….
Singapore’s Temasek, a global investment firm, has committed $50 billion to India and plans significant expansion in the coming years. Chairman Teo Chee Hean met with Finance Minister Nirmala Sitharaman, outlining focus areas including financial services, consumer markets, healthcare, technology, manufacturing, and renewables. Discussions covered broad investment opportunities across India. NEW DELHI: Temasek, a global…
Intel CEO Lip-Bu Tan met Prime Minister Narendra Modi, pledging the chip giant’s support for India’s Semiconductor Mission. Tan lauded the government’s comprehensive policy for semiconductor design and manufacturing. Prime Minister Modi expressed confidence that Intel’s involvement will foster an innovation-driven future for India’s youth, creating a robust electronic component ecosystem. NEW DELHI: US computer…
Microsoft is injecting a massive $17.5 billion into India, its largest investment in Asia, to bolster cloud and AI infrastructure. This significant commitment, alongside Google’s plans, underscores India’s growing importance as a global AI hub. The investment aims to enhance skilling and operations, positioning India as a frontier AI nation ready for transformative growth. NEW…
A government panel has proposed a ‘hybrid model’ for AI firms, granting them a blanket license to use copyrighted works for training AI systems. This framework mandates royalty payments to intellectual property rights holders, who cannot opt out. A centralized, non-profit entity will manage these payments, simplifying access for developers and ensuring fair compensation for…
The US Federal Reserve is widely expected to lower borrowing costs this week, but deep divisions within the policy-making panel suggest further rate cuts will be harder to secure, analysts say.Policymakers are set to meet on December 9–10 amid a complicated economic backdrop, with inflation still running above the Fed’s 2% target even as hiring…
More than 40,000 passengers were impacted by flight cancellations and another over 2.6 lakh faced long delays at Mumbai airport in the past week as IndiGo grappled with severe operational disruptions, Mumbai International Airport Limited (MIAL) said on Tuesday. According to MIAL, a total of 40,789 passengers were affected due to the cancellation of 905…
Credit provided by India’s capital markets could eventually surpass bank lending, Kotak Mahindra AMC managing director and CEO Nilesh Shah said on Tuesday, underscoring a structural shift in how the economy is financed.Speaking at an event in Mumbai, Shah said credit, which was traditionally dominated by banks, is increasingly being provided by capital markets and…
US job openings showed little movement in October, signalling a cooling labour market at a time when the Federal Reserve is weighing another interest-rate cut amid mixed economic cues.Employers posted 7.67 million vacancies in October, almost unchanged from 7.66 million in September, according to the Job Openings and Labor Turnover Survey (JOLTS) released by the…
Renault and Ford have announced a new partnership aimed at jointly developing small, low-cost electric vehicles and commercial vans for the European market, in an effort to reduce production costs and defend their market share against fast-growing Chinese automakers. Speaking to reporters in Paris on Monday ahead of the announcement, Ford CEO Jim Farley underlined…
