Author: Sreelatha M

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Beyond

Gold at ₹1,52,720, Silver at ₹2,74,900

Gold and silver prices witnessed a slight decline across major Indian markets on Sunday, offering some relief to buyers after recent sharp gains. According to bullion market data, gold prices slipped marginally, while silver also recorded a modest fall amid subdued trading activity.

The price of 24-carat gold fell by ₹10 per 10 grams to around ₹1,52,720, while 22-carat gold also edged lower across several cities. Silver prices declined by ₹100 per kilogram and were quoted at approximately ₹2,74,900 per kg in the domestic market. Retail rates varied slightly between cities due to local taxes and transportation costs.

In major markets such as Delhi, Mumbai, Kolkata and Chennai, jewellers reported steady demand despite the minor correction in prices. Market experts said the decline was largely influenced by developments in international markets, where gold prices remained under pressure due to expectations that the US Federal Reserve could maintain higher interest rates for a longer period. Rising bond yields and a stronger dollar have reduced the appeal of non-interest-bearing assets such as gold.

Analysts noted that investors are closely monitoring global economic indicators, inflation trends and geopolitical developments, all of which continue to influence precious metal prices. Although gold is traditionally considered a safe-haven investment during uncertain times, expectations of tighter monetary policy have tempered buying interest in recent sessions.

Silver prices have also mirrored global trends, with industrial demand and broader commodity market movements playing an important role in determining price direction. Traders expect volatility to continue during the week as markets react to fresh economic data and international developments.

Also Read: Sensex slumps over 500 points, Nifty ends below 23,250

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Beyond

India plans to bring E85 fuel to cut oil imports

India has introduced E85 fuel, a new blend containing 85% ethanol and 15% petrol, as part of its efforts to reduce crude oil imports and promote cleaner transport. The fuel will be priced around ₹20 per litre cheaper than regular petrol.

The move is part of the government’s broader ethanol blending programme aimed at improving energy security and reducing dependence on fossil fuels. Officials say greater use of ethanol can help lower India’s fuel import bill while supporting farmers and the domestic biofuel industry.

E85 can only be used in flex-fuel vehicles, which are designed to run on higher ethanol blends. Several automobile manufacturers are preparing to launch flex-fuel models in India as the government pushes for alternative fuel options.

The government believes E85 will help reduce vehicle emissions because ethanol is a renewable fuel produced from agricultural feedstock such as sugarcane. Higher ethanol use is expected to lower the transport sector’s carbon footprint compared to conventional petrol.

India has made significant progress in ethanol blending in recent years and has achieved key targets ahead of schedule. The launch of E85 is seen as the next step in expanding the country’s biofuel ecosystem.

The introduction of E85 aligns with India’s wider strategy to diversify energy sources through biofuels, electric vehicles and other cleaner alternatives. The government hopes the new fuel will contribute to lower emissions, reduced fuel costs and greater energy independence in the years ahead.

Experts say the success of E85 will depend on the availability of flex-fuel vehicles and the expansion of fuel distribution infrastructure. Consumer awareness and access to refuelling stations will also play an important role in driving adoption.

Also Read: HDFC, ICICI Prudential impose curbs on large gold ETF investments

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Corporate

Vietnam’s Green SM launches EV taxi service in Delhi-NCR

Vietnamese conglomerate Vingroup has launched its electric taxi service, Green SM, in the Delhi-NCR region, marking its entry into India’s growing electric mobility sector. The service started operations on June 5 and represents Green SM’s expansion into a major international market after establishing its presence in Vietnam and parts of Southeast Asia.

The company has deployed an all-electric fleet across Delhi, Noida, Gurugram and surrounding areas. Passengers can book rides through the Green SM mobile app, available on Android and iOS devices. The service aims to provide a sustainable transportation alternative while contributing to efforts to reduce urban pollution.

Green SM’s fleet consists of electric vehicles produced by VinFast, Vingroup’s electric vehicle subsidiary. The company said the initiative aligns with its broader vision of promoting environmentally friendly transportation solutions and supporting the transition to cleaner mobility.

To ensure service quality, Green SM said its drivers will undergo professional training focused on customer service, road safety and operational standards. The company also highlighted transparent pricing, vehicle cleanliness and a consistent customer experience as key features of its offering.

The launch is part of Vingroup’s wider strategy to expand its presence in India. VinFast is preparing to introduce its electric vehicles in the country and is developing a manufacturing facility in Tamil Nadu. The taxi service is expected to help increase brand visibility ahead of the company’s planned automotive expansion.

India has emerged as an important market for electric vehicles, driven by government support, policy incentives and growing consumer awareness of sustainable transportation. Industry observers say electric taxi services can play a significant role in encouraging EV adoption by familiarising more people with the technology through daily use.

Green SM enters a competitive ride-hailing market currently dominated by established players. However, the company is positioning itself as a dedicated electric mobility platform focused entirely on zero-emission transportation.

Also Read: Google signs $920 mn-a-month AI deal with SpaceX

Categories
Technology

Google signs $920 mn-a-month AI deal with SpaceX

Google has signed a major cloud computing agreement with SpaceX, committing to pay about $920 million every month for AI computing capacity in one of the largest technology infrastructure deals announced this year. The agreement was disclosed in regulatory filings ahead of SpaceX’s planned stock market debut.

Under the deal, Google will gain access to approximately 110,000 Nvidia graphics processing units (GPUs), along with related computing infrastructure such as CPUs, memory, and networking resources. The contract is scheduled to run from October 2026 through June 2029, with a lower-priced ramp-up period before full capacity becomes available.

The computing power will help Google meet growing demand for its AI products and services, including its Gemini Enterprise platform. As companies race to develop and deploy advanced artificial intelligence systems, access to large-scale computing resources has become a critical competitive advantage.

The agreement also includes performance guarantees. SpaceX must deliver the promised GPU capacity by the end of September 2026. If those commitments are not met, Google will have the option to terminate the contract after a short grace period. Beginning in 2027, either company can end the agreement by providing 90 days’ notice.

The deal further strengthens SpaceX’s growing presence in the AI infrastructure market. Earlier this year, the company secured another large computing agreement with AI startup Anthropic. Together, the contracts are expected to generate tens of billions of dollars in revenue and create a significant new business line beyond SpaceX’s traditional space and satellite operations.

The announcement comes just days before SpaceX’s highly anticipated initial public offering (IPO). Investors are closely watching the company’s efforts to expand beyond rockets and satellite services into AI computing, a sector experiencing rapid growth as demand for advanced AI models continues to rise worldwide.

Also Read: Cloudflare acquires VoidZero to strengthen AI web development

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Corporate

Cloudflare acquires VoidZero to strengthen AI web development

Cloudflare has acquired VoidZero, the company behind the popular Vite JavaScript toolchain, in a move aimed at advancing the development of the AI-native web. The acquisition is expected to strengthen Cloudflare’s position in web infrastructure and developer tools as artificial intelligence becomes increasingly integrated into online applications.

VoidZero was founded to improve the JavaScript development ecosystem and is best known for supporting Vite, a widely used tool that helps developers build modern web applications more efficiently. Vite has gained significant popularity among software developers because it enables faster application development and improved performance.

Cloudflare said the acquisition aligns with its vision of creating a more powerful internet infrastructure for the next generation of AI-driven applications. As businesses increasingly adopt AI technologies, developers require tools that can support rapid deployment, scalability and real-time performance.

The company believes combining Cloudflare’s global network and computing platform with VoidZero’s expertise in developer tools will help simplify the process of building and deploying modern web applications. The partnership is expected to benefit developers by providing faster workflows and improved support for AI-powered services.

Cloudflare emphasized that the acquisition is not only about software development tools but also about preparing the internet for a future in which AI plays a central role in how applications are created and used. The company has been investing heavily in technologies that support edge computing, serverless development and artificial intelligence.

The acquisition also highlights the growing importance of open-source developer communities in shaping the future of web technology. Vite has become one of the most widely adopted tools in modern web development, making VoidZero an attractive addition to Cloudflare’s technology portfolio.

As demand grows for applications powered by large language models and AI agents, infrastructure providers are increasingly focusing on tools that make development easier and more efficient.

Also Read: Wipro shares fall upto 8% after buyback record date

Categories
Corporate

Wipro shares fall upto 8% after buyback record date

Wipro shares declined about 8% on June 5, making the IT company one of the biggest losers on the Nifty index even as Indian equity markets rallied. The fall came after the stock turned ex-buyback following the company’s share buyback record date.

The decline was largely driven by a technical adjustment in the share price rather than any negative development in the company’s operations. Market analysts said such movements are common when stocks trade ex-buyback, as investors who purchase shares after the record date are no longer eligible to participate in the buyback offer.

Wipro recently announced a share buyback programme under which eligible shareholders can tender their shares at a price higher than the prevailing market rate. Investors holding shares on the record date qualify for the buyback, while those buying afterward do not receive that benefit.

As a result, the stock witnessed selling pressure, leading to a noticeable drop in its market value. Experts noted that similar price corrections are often seen around corporate actions such as buybacks, dividends and bonus issues.

The weakness in Wipro shares contrasted with the broader market’s positive performance. Benchmark indices Sensex and Nifty gained strongly after the Reserve Bank of India announced supportive policy measures, including a larger-than-expected interest rate cut. Banking and financial stocks led the market rally, helping lift overall investor sentiment.

Despite the sharp fall, analysts emphasized that Wipro’s business fundamentals remain unchanged. They said the company’s long-term performance will continue to depend on factors such as global demand for IT services, digital transformation spending and its ability to secure new contracts.

Also Read: Google brings Search profiles to boost creator visibility

Categories
Technology

Google brings Search profiles to boost creator visibility

Google has launched a new feature called Search Profiles, giving content creators and publishers a dedicated space to showcase their work directly in Google Search. The initiative aims to help users discover creators more easily while allowing creators to highlight content from multiple platforms in one place.

The new profiles act as a digital hub where eligible creators can display links to their websites, social media accounts, videos, articles and other online content. When users search for a creator’s name, they can access a profile that presents a consolidated view of the creator’s online presence.

Google said the feature is designed to improve content discovery and help creators reach wider audiences. By bringing content together under a single profile, users can find verified information and explore a creator’s work without having to search across multiple websites.

The rollout is currently targeted at creators and publishers with established online audiences. Reports suggest that eligibility may require creators to have at least 100,000 followers on supported platforms. Google is expected to expand access gradually as the feature develops.

The launch comes as the creator economy continues to grow rapidly worldwide. Digital creators are increasingly using multiple platforms to engage audiences, making it challenging for followers to keep track of all their content. Search Profiles seeks to address this issue by creating a central and easily accessible online identity.

Industry observers believe the feature could help creators strengthen their personal brands and improve audience engagement. Publishers may also benefit through increased visibility and traffic to their original content.

Google has been introducing several tools aimed at supporting creators, businesses and publishers as competition for online attention intensifies. Search Profiles represents another step in making search results more useful and personalized for users.

The company says the feature will continue to evolve based on user feedback and creator participation. As more creators join the platform, Search Profiles could become an important tool for content discovery, helping audiences connect with creators and publishers more efficiently across the web.

Also Read: Amazon expands in Europe with AI robots

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1 Minute-Read

Wockhardt’s Zaynich becomes India’s first novel antibiotic

Indian drugmaker Wockhardt has achieved a significant milestone with the launch of Zaynich, India’s first fully homegrown novel antibiotic. Developed after years of research, the drug has received approval from the US Food and Drug Administration (FDA), making it the first Indian-discovered and developed medicine to earn such recognition.

Zaynich is designed to combat multidrug-resistant bacterial infections, a growing global health concern. Experts say the new antibiotic could help treat serious infections that no longer respond to existing medicines. The achievement is being seen as a major boost for India’s pharmaceutical innovation, highlighting the country’s ability to move beyond generic drug manufacturing into original drug discovery.

Categories
Corporate

Sensex slides by 200 points, Nifty below 23,400

Indian equity markets ended lower on Friday, with the benchmark Sensex closing 117 points down and the Nifty slipping below the 23,400 mark. Investors remained cautious amid mixed global cues and profit-booking in select heavyweight stocks.

The BSE Sensex settled 117 points lower, while the NSE Nifty ended below the key 23,400 level. Market sentiment remained subdued despite positive developments on the domestic front, as traders booked profits after recent gains.

Among sectoral performers, IT and FMCG stocks emerged as the top gainers, supported by buying interest in select large-cap companies. Defensive sectors attracted investors seeking stability amid market volatility.

On the losing side, banking and metal stocks witnessed selling pressure and weighed on the broader indices. Several financial stocks declined as investors remained cautious ahead of key economic data and global market developments.

Market participants also tracked movements in the rupee, crude oil prices and foreign institutional investor activity. Global uncertainties and concerns over economic growth in major economies continued to influence investor sentiment.

Analysts said the market witnessed a consolidation phase after recent fluctuations, with investors adopting a stock-specific approach. While some sectors attracted buying, weakness in heavyweight banking and metal counters limited overall market gains.

Broader markets showed mixed trends, with select mid-cap and small-cap stocks witnessing buying interest. Traders remained focused on corporate earnings, economic indicators and policy developments for further market direction.

Also Read: L&T signs ₹18,600 cr Tamil Nadu investment deal

Categories
Leaders

Airbnb chief Brian Chesky set to start an AI startup

Airbnb Chief Executive Officer Brian Chesky is reportedly planning to launch a new artificial intelligence company, marking his most significant move into the rapidly growing AI sector. Despite the new venture, Chesky is expected to continue leading Airbnb and will remain actively involved in the company’s operations.

According to reports, the proposed AI venture is still in its early stages and is focused on developing advanced artificial intelligence models. The company may place particular emphasis on improving user interaction, product design and the overall experience people have while using AI-powered tools. Sources familiar with the plans said details of the project are still being finalized and could change as development progresses.

The new venture is reportedly being established as an independent AI lab, with Chesky backing the initiative while continuing in his role as Airbnb’s CEO. Reports indicate that he is not expected to serve as chief executive of the new company, although he will play a key role in its creation and direction.

Chesky has been a vocal supporter of AI’s potential. Under his leadership, Airbnb has expanded its use of artificial intelligence across several areas of its business, including software development and customer support. The company has previously disclosed that AI is playing an increasingly important role in improving productivity and enhancing user experiences.

The plan comes at a time when competition in artificial intelligence is intensifying, with major technology firms and startups investing heavily in new AI models and applications. Industry observers view Chesky’s decision as a sign that technology leaders are increasingly looking to shape the next phase of AI development rather than simply adopting existing tools.

Also Read: Kuku files confidential IPO papers to raise ₹3,500 cr