OpenAI has broadened its AI for Impact Accelerator in India, granting $150,000 in technical assistance to 11 nonprofits. These organizations are developing AI tools for healthcare, education, and agriculture. The program, aligned with IndiaAI Mission, aims to democratize AI access and address socio-economic challenges, with plans for further expansion and initiatives in the region.
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India has exempted Saudi Arabia's Public Investment Fund (PIF) from certain foreign portfolio investment rules to attract long-term capital and strengthen financial ties. This move allows PIF's various arms to invest independently in Indian equity markets, bypassing the previous 10% ownership cap. It aims to boost Saudi Arabia's $100 billion investment plan in India, particularly in energy and infrastructure sectors.
Victoria's Secret has postponed its quarterly earnings release following a security breach that disrupted operations and forced its US website offline. The company detected the incident on May 24, initiating response protocols and engaging experts. Preliminary results show $1.35 billion in net sales, exceeding forecasts. The breach, potentially a ransomware attack, impacted in-store services and corporate systems, hindering financial reporting.
A public feud between Trump and Musk triggered a significant drop in Tesla shares, impacting major US indexes like the S&P 500 and Nasdaq 100. Tesla's decline highlighted concerns about index concentration in large-cap stocks, particularly the 'Magnificent Seven,' and its wide market exposure through numerous ETFs, affecting funds like the Consumer Discretionary Select Sector SPDR Fund.
Indian manufacturers, Dixon Technologies and Florence Shoe Company, are rapidly expanding to capitalize on opportunities arising from global companies seeking alternatives to China, especially after Trump's tariffs. Dixon anticipates a $100 billion export potential in the US and EU, while Florence is increasing shoe production for major brands.
Adani Group announced a significant 29% surge in its tax contributions, reaching nearly Rs 75,000 crore in FY2024-25. This substantial contribution, encompassing direct and indirect taxes along with employee social security, underscores the group's commitment to nation-building. Key contributors among the listed companies include Adani Enterprises, Adani Cement, Adani Ports, and Adani Green Energy.
Indian equities experienced a significant surge in May, propelled by strong performances in defence stocks and microcaps. The Nifty 50 rose by 1.71%, while the Nifty Microcap 250 soared by 12.10%. Investor optimism was further fueled in June by a surprise rate cut from the RBI, boosting rate-sensitive sectors.
Donald Trump suggests resuming large-scale trade with Russia after the Ukraine war, but experts cite significant obstacles. Hundreds of foreign companies have exited Russia since the 2022 invasion, facing asset seizures and legal instability. Russia's focus on military production and stringent regulations further deter US firms, making a swift trade revival unlikely despite potential sanction relief.
Indian markets experienced a surge in foreign portfolio investments during May 2025, reaching Rs 19,860 crore, marking the strongest month for inflows this year. Despite a negative cumulative FPI investment of Rs 92,491 crore from January to May, the May inflows signal a potential shift in investor confidence, driven by a declining US dollar and positive market developments.
The Trump administration's doubling of import duties on steel and aluminum is poised to negatively impact India's export demand, compelling companies to explore alternative markets. US importers are slowing orders due to increased costs, potentially hindering American firms' production and reducing input demand. India's steel and aluminum exports to the US, valued at $6.2 billion and $0.
Reliance Infrastructure received a reprieve as the NCLAT stayed insolvency proceedings initiated against it. This followed an appeal against the NCLT Mumbai's order admitting an insolvency plea by IDBI Trusteeship Services. Reliance Infra contended that the full amount of Rs 92.68 crore, related to Dhursar Solar Power's tariff claims, had already been paid.