Business

Users of several Banks and UPI-enabled apps face payment failures; netizens complain-Telangana Today

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Many took to social media to report that they have been facing issues while making payment via UPI apps like Google Pay, PhonePe and BHIM.

Published Date – 6 February 2024, 09:04 PM


Users of several Banks and UPI-enabled apps face payment failures; netizens complain


Hyderabad: Various banks and Unified Payment Interface (UPI) appears to be facing outage across the country on Tuesday, even as several users reported failure of payments. Many took to social media to report that they have been facing issues while making payment via UPI apps like Google Pay, PhonePe and BHIM.

With this, social media platforms were flooded with complaints of disruptions which persisted over several hours. The number of people taking to social media suggests that there is a widespread outage affecting the functionality of UPI.

Neither banks nor National Payments Corporation of India (NPCI) have acknowledged the outage despite several reports on payment failure.

Business

T-Hub launches new cohort for Healthcare Innovation Program-Telangana Today

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The selected startups in the upcoming cohort will be addressing critical challenges in Digital Health, Wearables, and Hospital Systems.

Published Date – 6 February 2024, 05:19 PM


T-Hub launches new cohort for Healthcare Innovation Program


Hyderabad: Start-up incubator T-Hub on Tuesday announced the launch of the new cohort of the AIC T-Hub Healthcare program, aimed at fostering technological advancements and innovations within the healthcare sector across India. The program will host 20 startups carefully selected for their groundbreaking solutions in the healthcare ecosystem.

The selected startups in the upcoming cohort will be addressing critical challenges in Digital Health, Wearables, and Hospital Systems.

The program’s structure involves a 12-week intensive curriculum with mentorship from healthcare thought leaders, doctors, and industry experts. The program offers a range of benefits to startups, including support for product development, assistance with commercialization plans, market understanding, business plan refinement, and access to resources essential for growth. The program also provides access to a prototyping lab equipped with healthcare sensors.

Startups were shortlisted based on criteria such as MVP, founder experience, and business model viability. Amongst the selected startups are Exsegen Genomics Research Pvt Ltd, Pratibha Healthkon Private Limited, RudrastraApptech Pvt Ltd, Medstown, Dognosis, MolVerse Pvt Ltd – Accelerating Molecular Discoveries, MicroHeal Wellness Pvt Ltd, Medicoinnovex Technologies LLP, Aspire Health and Medicare Pvt Ltd, Swarupa Narsimha Healthcare (OPC) Pvt Ltd, Cliniv Health Tech, SC Health care logistics Pvt Ltd, Incra Soft Private Limited, LIV Emergency Healthcare, Terrablue, Medaid, Aarogya ID, Neordent Healthcare Solutions Pvt Ltd.

Mahankali Srinivas Rao, CEO, T-Hub, said, ” With the launch of our fourth AIC T-Hub Healthcare cohort, we are taking another significant step towards advancing healthcare innovation in India. The startups selected for this program represent the future of healthcare technology”.

Rajesh Adla, CEO, AIC T-Hub Foundation said that T-Hub will not onlu support the startups but also empower them to think beyond boundaries. “This cohort marks a pivotal moment for healthcare innovation in India. Our startups have an unprecedented opportunity to redefine the healthcare landscape, and the AIC T-Hub Healthcare program is the catalyst for that transformation”.

Throughout the program, AIC T-Hub will also support selected startups with investment opportunities, grants, customer pilots with hospitals, clinical validation, and access to a prototyping lab with healthcare sensors. Over the past three cohorts, the AIC T-Hub Healthcare program has played a pivotal role in supporting 45 startups, enabling them to secure approximately 10 Crores in investments and facilitating 21 market pilots with various hospitals. The program’s impact is underscored by the success stories of startups achieving USFDA approvals and raising multiple rounds of funds.

Business

Gold and silver prices fall in India-Telangana Today

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In the previous trade, the precious metal had ended at Rs 63,500 per 10 grams

Published Date – 5 February 2024, 05:09 PM


Gold and silver prices fall in India


New Delhi: Gold prices declined Rs 150 to Rs 63,350 per 10 grams in the national capital on Monday amid weak global cues, according to HDFC Securities.

In the previous trade, the precious metal had ended at Rs 63,500 per 10 grams.

Silver also plunged Rs 400 to Rs 75,500 per kilogram, while it had closed at Rs 75,900 per kg in the previous trade.

“Spot gold prices (24 carats) in the Delhi markets are trading at Rs 63,350 per 10 grams, down by Rs 150, taking bearish cues from the overseas markets,” Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.

In the international markets, spot gold at Comex was trading at USD 2,024 per ounce, down by USD 15 from the previous close.

Also, silver was trading lower at USD 22.45 per ounce.

Gold traded lower as the dollar and yields jumped after a strong US non-farm payrolls data which created some uncertainty about the US Federal Reserve’s monetary policy path this year, Navneet Damani, Senior VP of Commodity Research at Motilal Oswal Financial Services, said.

Business

MeitY transfers SMART food storage tech to Paras Defense for digital innovation-Telangana Today

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According to a press release by the Ministry of Electronics and IT, the momentous occasion took place during the launch event of the “Digital India FutureLABS Summit 2024” held at IIIT-Delhi.

Published Date – 5 February 2024, 02:35 PM


MeitY transfers SMART food storage tech to Paras Defense for digital innovation


New Delhi: In a move towards fostering innovation and advancing technology, the Ministry of Electronics & IT (MeitY) has successfully transferred the Smart Food Grain Storage System (SAFEETY) technology to M/s Paras Defense and Space Technology Ltd.

According to a press release by the Ministry of Electronics and IT, the momentous occasion took place during the launch event of the “Digital India FutureLABS Summit 2024” held at IIIT-Delhi.
SAFEETY, developed by Society for Applied Microwave Electronics Engineering and Research (SAMEER) under MeitY’s guidance, boasts cutting-edge features such as conveyorized loading and unloading of grain bags with RFID for traceability, online weight and moisture measurement, and Radio Frequency Based Removal of Moisture from Grain.

This state-of-the-art system has a remarkable capacity, efficiently handling almost one truckload (approximately 28 tons) of grains in just 40 minutes.

The exchange of technology transfer documents took place in the presence of key dignitaries, including Rajeev Chandrasekhar, Minister of State for Electronics & Information Technology, Skill Development & Entrepreneurship, and Jal Shakti; Sunita Verma, GC R&D in E⁢ Dr P. H. Rao, DG-SAMEER; Rajesh Harsh, CI, SAMEER, Mumbai; Dr Om Krishan Singh, Scientist ‘D’, MeitY; Amit Mahajan, Director Paras Defense and Space Technologies Ltd; and senior officials from the government.

The transfer of SAFEETY technology to Paras Defense and Space Technology Ltd signifies a step towards realizing the Innovation, Science, and Technology theme of Vikshit Bharat @2047.
The collaboration between government entities and private industry highlights the commitment to leverage technology for the nation’s progress and development.

Business

Hyundai, Kia’s EV sales surpass 1.5 mn units-Telangana Today

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Hyundai launched its first EV model, the BlueOn, which was based on the i10 mini car, in the domestic market in July 2011.

Published Date – 4 February 2024, 02:22 PM


Hyundai, Kia’s EV sales surpass 1.5 mn units

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Seoul: South Korea’s Hyundai Motor and its smaller affiliate Kia on Sunday said their combined electric vehicle sales exceeded 1.5 million units as of December, 12 years after Hyundai debuted its first EV model.

Hyundai launched its first EV model, the BlueOn, which was based on the i10 mini car, in the domestic market in July 2011.

Hyundai and Kia sold 516,441 EVs in 2023, bringing their accumulated EV sales to 1.53 million units at the end of last year, the companies’ data showed, reports Yonhap news agency.

Eight out of 10 Hyundai and Kia EVs were sold overseas last year. Best-selling models include Hyundai’s Kona Electric and IONIQ 5, and Kia’s Niro and EV6.

Despite a slowdown in EV sales, Hyundai plans to launch the electrified version of the Casper mini car later this year, and Kia will start production of the EV3 compact EV model at its domestic plant in the second quarter.

In 2024, Hyundai aims to sell 4.24 million autos, slightly higher than the 4.21 million last year, and Kia aims to sell 3.2 million units, up 3.6 percent from 3.08 million.

The two together form the world’s third-largest carmaker by sales after Toyota Motor Corp. and Volkswagen Group.

Business

After Ayodhya, SpiceJet plans to connect more tourist, religious places-Telangana Today

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On February 1, Uttar Pradesh Chief Minister Yogi Adityanath, Union Civil Aviation Minister Jyotiraditya Scindia, and Minister of State V K Singh jointly inaugurated SpiceJet’s direct flight service connecting Ayodhya with eight cities.

Updated On – 4 February 2024, 11:44 AM


After Ayodhya, SpiceJet plans to connect more tourist, religious places


New Delhi: After Ayodhya, SpiceJet plans to expand its business over the next two years and increase connectivity between various tourist and religious destinations including Lakshadweep, the airline’s chief Ajay Singh said.

The domestic carrier has also plans to operate seaplanes and is awaiting infrastructure development for water ports, the CMD told PTI in an interaction.

“I think this is the time to expand. SpiceJet will do its utmost to expand its business over the next two years. We want to connect many tourist destinations, religious tourism, medical tourism, places like Lakshadweep,” Singh said in reply to a question on company’s expansion plan.

According to Sing, the airline already has the licence to operate seaplanes and plans are in the works to connect several locations through seaplane services.

On February 1, Uttar Pradesh Chief Minister Yogi Adityanath, Union Civil Aviation Minister Jyotiraditya Scindia, and Minister of State V K Singh jointly inaugurated SpiceJet’s direct flight service connecting Ayodhya with eight cities.

Asked about the company’s plan to connect Ayodhya with more locations through its network, Singh said every large and small city today wants connectivity with Ayodhya. So the plans are in the works.

“I think every airline wants to connect with Ayodhya today with more and more flights. I think soon enough the government will have to expand the airport at Ayodhya.

“There is no doubt that Ayodhya will be one of the leading tourism destination in the world. Just like you hear Vatican or Mecca, I have no doubt that Ayodhya will become the largest tourist destination in the world,” he said.

Singh further said the air cargo segment sees growth in a very big way and SpiceJet hopes to start air cargo services using wide-body aircraft not just within the country but also overseas, including large commercial centres across the globe.

The company also aims to complete the listing process on NSE soon, he said.

“We have applied already. We are pushing to just as soon as possible. We have a few meetings over the next two-three days to ensure we shorten the process of listing as soon as possible,” Singh said.

Business

Deutsche Bank will cut 3,500 jobs even as it records $4.5 billion profit last year-Telangana Today

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The announcement came alongside the release of annual profit figures showing the bank made 4.2 billion euros (USD 4.5 billion) last year, a decline of 16 per cent compared with 2022.

Updated On – 3 February 2024, 01:35 PM


Deutsche Bank will cut 3,500 jobs even as it records $4.5 billion profit last year

Representational Image.

Frankfurt: Deutsche Bank said on Thursday that it would cut 3,500 jobs as part of efforts to slash costs by 2.5 billion euros (USD 2.7 billion) through next year and boost profits even as Germany’s largest lender benefits from higher global interest rates.

The bank said it would seek to streamline its marketing network and computer systems and software as it seeks to cut costs. It said the reduction in the number of positions would mostly be for jobs that don’t involve directly dealing with customers.

The announcement came alongside the release of annual profit figures showing the bank made 4.2 billion euros (USD 4.5 billion) last year, a decline of 16 per cent compared with 2022. It was, however, the fourth straight year in which the bank made a profit.

The bank has benefited along with its peers from the global rise in interest rates, which can increase the profit margin between what the bank pays out in interest and what it can earn.

CEO Christian Sewing said the results “demonstrated impressive resilience in a difficult environment, expanded our business and shown everyone our bank is sustainably profitable.” Revenue grew 6.8 per cent, to 28.9 billion euros. The company announced it was raising its dividend to 45 euro cents per share from 30 cents per share and would put more cash in shareholders’ hands by buying back 675 million euros in shares by the end of June.

Business

Zoom lays off 150 employees, Okta slashes 400 jobs-Telangana Today

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Zoom said the layoffs are not company-wide and it will continue to hire for roles in artificial intelligence, sales, product and across operations in 2024.

Published Date – 3 February 2024, 11:31 AM


Zoom lays off 150 employees, Okta slashes 400 jobs


New Delhi: Video communication platform Zoom is laying off nearly 150 employees, or less than 2 per cent of the company’s workforce.

Zoom said the layoffs are not company-wide and it will continue to hire for roles in artificial intelligence, sales, product and across operations in 2024.

“We regularly evaluate our teams to ensure alignment with our strategy,” a Zoom spokesperson told CNBC in a statement.

“As part of this effort, we are rescoping roles to add capabilities and continue to hire in critical areas for the future,” the spokesperson added.

Last February, Zoom slashed around 1,300 jobs, or about 15 per cent of its workforce.

In addition to Zoom, cloud software vendor Okta also announced to lay off about 400 employees, or about 7 per cent of its workforce.

Okta CEO Todd McKinnon said that the “reality is that costs are still too high”.

Okta shares rose around 3.6 per cent in premarket trading on the news, according to reports.

McKinnon said the firm needed to be more “thoughtful” about where it was investing to achieve “long-term success.”

“In order to grow profitably, we need to run the business with greater efficiency. While we’ve taken steps in the right direction, the reality is that costs are still too high. We need to be mindful of our overall spend so we can continue to invest in the areas, products, and routes to market with the most opportunity,” said the CEO.

Business

Jeff Bezos plans to offload 50 million Amazon shares in next year-Telangana Today

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“Sales will take place ‘over a period,’ concluding by January 25 next year, contingent upon specific conditions, according to the filing reported by Fox Business.”



Published Date – 3 February 2024, 10:50 AM


Jeff Bezos plans to offload 50 million Amazon shares in next year


San Francisco: Amazon founder Jeff Bezos is planning to sell at least 50 million company shares in the next year, the media reported.

According to a filing with the US Securities and Exchange Commission (SEC), Amazon, where Bezos currently serves as executive chair, said its billionaire founder had a trading plan for selling a maximum of 50 million shares.

The sales will occur “over a period” ending January 25 of next year “subject to certain conditions,” the filing read, reports Fox Business.

Bezos, who recently turned 60, owns nearly one billion shares of Amazon stock. Seven other top Amazon insiders took up trading plans for offloading Amazon shares, according to the SEC filing.

However, Bezos’ involved the largest amount of shares. Bezos’ stake in Amazon stocks make up a major portion of his $193.3 billion personal fortune.

Net sales for Amazon increased 14 per cent to $170 billion in the holiday quarter that ended December 31, 2023, compared with $149.2 billion in the fourth quarter of 2022.

Net income increased to $10.6 billion in the fourth quarter of 2023, compared with $0.3 billion in the fourth quarter of 2022. Amazon Web Services (AWS) segment sales increased 13 per cent year-over-year to $24.2 billion.

Amazon CEO Andy Jassy said the past holiday season was “record-breaking.” “This Q4 was a record-breaking Holiday shopping season and closed out a robust 2023 for Amazon,” said Jassy. “As we enter 2024, our teams are delivering at a rapid clip, and we have a lot in front of us to be excited about,” he added.

Business

Zomato CEO Deepinder Goyal buys 2 plots worth Rs 79 cr in New Delhi-Telangana Today

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EaseMyTrip Co-founder Rikant Pitti recently bought a commercial property worth about Rs 99.34 crore in Gurugram.

Published Date – 3 February 2024, 08:36 AM


Zomato CEO Deepinder Goyal buys 2 plots worth Rs 79 cr in New Delhi

Zomato co-founder and CEO Deepinder Goyal

New Delhi: Zomato co-founder and CEO Deepinder Goyal has reportedly bought two plots of land (about 5 acres each) worth Rs 79 crore in Mehrauli area of the national capital.

Goyal apparently paid stamp duty worth Rs 5.24 crore for the two plots he purchased from separate sets of owners, according to the property registration paperwork accessed by CRE Matrix.

Zomato or Goyal did not immediately comment on the reports.

In the first transaction, Goyal reportedly paid Rs 1.74 crore in stamp duty and Rs 29 crore for 2.5 acres of land.

In the second transaction, he paid Rs 3.50 crore in stamp duty and bought 2.53 acres of land for Rs 50 crore.

Both the land deals were executed last year.

According to the documents, the two plots are located in the village Dera Mandi of Chhatarpur area.

EaseMyTrip Co-founder Rikant Pitti recently bought a commercial property worth about Rs 99.34 crore in Gurugram. According to documents seen by real estate data analytics firm CRE Matrix, the sale deed was executed on November 24, 2023 and Pitti paid a stamp duty of Rs 6.95 crore for the deal.

The 4,050 sq metre commercial property is located near Rajiv Chowk in Gurugram’s Sector 32, according to reports.

In October last year, MakeMyTrip group CEO Rajesh Magow reportedly purchased a 6,428 sq ft apartment in DLF Magnolias for about Rs 33 crore.