Author: Sreelatha M

Categories
Corporate

Airtel raises $1 bn for Nxtra

Bharti Airtel has raised $1 billion in fresh funding for its data centre arm, Nxtra, to expand capacity and strengthen its position in the fast-growing digital infrastructure space.

The investment round is led by Alpha Wave Global, with participation from existing investor Carlyle Group and Anchorage Capital. Airtel will also invest in the business and continue to hold a majority stake, ensuring control over its operations.

The funding values Nxtra at around $3 billion, reflecting strong investor confidence in India’s data centre market. The company plans to use the capital to significantly expand its infrastructure and meet rising demand for cloud services, artificial intelligence, and data storage.

Nxtra currently operates a widespread network of data centres across India, catering to enterprises, government clients, and large technology companies. With digital adoption accelerating, the need for reliable and scalable data infrastructure is growing rapidly.

As part of its expansion strategy, Nxtra aims to increase its capacity from around 300 megawatts to nearly 1 gigawatt over the next few years. This scale-up is expected to support increasing workloads driven by AI applications and data-intensive services.

India’s data centre sector is witnessing strong growth due to rising internet usage, digital payments, and expansion by global cloud providers. This has led to increased investments from both domestic and international players looking to tap into the opportunity.

Also Read: Aluminium stocks rises 5% on Middle East tensions

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Beyond

Anil Ambani sues Arnab Goswami, Republic TV

Industrialist Anil Ambani has filed a defamation case against journalist Arnab Goswami and his news channel Republic TV in the Bombay High Court, claiming that certain broadcasts harmed his personal reputation and business interests. Ambani is seeking ₹10,000 crore in damages, making it one of the largest defamation suits in recent years.

The suit alleges that Republic TV aired multiple reports portraying Ambani and his companies in a negative light, suggesting financial instability and wrongdoing without proper verification. Ambani’s legal team says the coverage went beyond legitimate journalism and caused significant harm to his public image.

The lawsuit names both Arnab Goswami and Republic TV as defendants. Ambani claims the allegedly defamatory content was repeatedly broadcast and reached a wide audience, amplifying its damaging effects. The petition also requests that the court issue orders preventing Republic TV from airing further material deemed defamatory until the matter is resolved.

Ambani’s lawyers contend that the channel violated journalistic standards and ethics by presenting unverified claims as facts. They argue that such reporting amounts to irresponsible media behaviour and undermines the credibility of both the media and the individuals targeted.

Republic TV has not yet filed a formal response in court. Legal experts note that the channel may defend its coverage as fair comment on matters of public interest. Defamation cases involving public figures often balance freedom of the press with the protection of individual reputation, and this case is expected to explore those issues in detail.

In India, courts require plaintiffs in defamation cases to show that statements were false, caused harm, and were made with negligence or malice. Ambani’s substantial claim reflects both alleged financial losses and the importance he places on restoring his public image.

The Bombay High Court will now review the petition and consider interim reliefs, which could limit Republic TV’s reporting on Ambani while the case proceeds. Both sides are expected to debate the limits of media freedom versus individual reputation rights.

Also Read: 12 tonnes of KitKat stolen in Europe transit

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Beyond

12 tonnes of KitKat stolen in Europe transit

In an unusual theft, about 12 tonnes of KitKat chocolate bars were stolen in Europe while being transported from Italy to Poland. The shipment, owned by Nestlé, contained nearly 4.13 lakh chocolate bars and is still missing.

The incident happened when a truck carrying the chocolates left a factory in Italy for delivery. During the journey, the truck disappeared, and both the vehicle and its cargo have not been traced so far. Authorities are investigating the case to find out what happened and recover the stolen goods.

The stolen chocolates were part of a special range of KitKat bars, including limited-edition products. This has made the loss more significant for the company.

Nestlé responded to the incident with a mix of humour and concern. In a light-hearted remark, the company said it “appreciates the criminals’ exceptional taste.” At the same time, it raised a serious issue, pointing out that cargo theft is becoming more common and better organised across transport networks.

Despite the theft, Nestlé has assured customers that there is no risk to consumer safety. The company also said that the overall supply of KitKat chocolates in the market will not be affected by this incident.

To prevent misuse of the stolen products, Nestlé warned that the chocolates could appear in unofficial or illegal markets. Each KitKat bar has a unique batch code, which can help identify whether it belongs to the stolen shipment. The company has advised retailers and consumers to stay alert and report any suspicious products.

Nestlé is working closely with police and supply chain partners to investigate the theft and recover the missing chocolates.

Also Read: Vedanta plans major split into five firms

Categories
Corporate

Airtel, Tata told to clear AGR dues

The Indian government has asked Bharti Airtel and Tata Teleservices to clear around ₹10,000 crore in adjusted gross revenue (AGR) dues by March 31, 2026, making it clear that no special relief will be provided.

The Department of Telecommunications (DoT) has rejected requests from both companies seeking concessions similar to those granted to Vodafone Idea. Officials stated that the dues must be paid within the deadline in line with the Supreme Court of India ruling on AGR payments.

If the companies fail to meet the deadline, they could face legal consequences, including possible contempt of court proceedings. The government has emphasized that it is bound to follow the court’s order and cannot make exceptions in this case.

Out of the total dues, Airtel is expected to pay more than ₹5,000 crore, while Tata Teleservices may have to pay over ₹4,000 crore. The final amount could increase further due to accumulated interest.

The AGR issue has been a major challenge for telecom operators in India for several years. It relates to how revenue is calculated for the purpose of paying licence fees and spectrum usage charges to the government. The Supreme Court’s decision had widened the definition of revenue, significantly increasing the dues payable by telecom companies.

While Vodafone Idea recently received relief in the form of extended payment timelines and financial support, the government clarified that the move was specific to that company’s financial situation and does not set a general precedent.

Also Read: India tightens CCTV rules, edges out Chinese firms

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Corporate

Vedanta plans major split into five firms

Vedanta is preparing for a major overhaul as it plans to split its business into five separate companies next month, in what could become one of India’s biggest corporate restructurings in recent years.

The move is part of the company’s broader effort to simplify its structure, reduce debt, and make each business more focused and easier to manage. The plan has already received key approvals and is expected to be rolled out in April, with the new companies likely to be listed soon after.

Once completed, Vedanta’s operations will be divided into five distinct entities, each handling a specific sector such as aluminium, power, steel, and iron. This will allow investors to clearly understand and invest in individual parts of the business rather than the group as a whole.

Chairman Anil Agarwal believes the split will help unlock greater value for shareholders. He has suggested that the combined worth of the five companies could be higher than Vedanta’s current overall valuation.

The restructuring also comes as the company looks to manage its debt more effectively. By breaking into smaller, specialised units, Vedanta hopes to improve efficiency, attract targeted investments, and give each business more room to grow independently.

Despite moving forward, the plan had earlier raised concerns, particularly from the government, over how pending dues would be handled after the split. However, with approvals now in place from regulators, creditors, and shareholders, the process is set to go ahead.

Vedanta’s parent group is expected to retain significant stakes in each of the new companies, ensuring it continues to have control while allowing the businesses to operate more independently.

Also Read: Anil Agarwal flags Jaypee bid reversal

 

 

 

 

 

 

Categories
Technology

Google restricts ‘Agent Smith’ AI tool after internal surge

Google has limited access to its internal AI tool “Agent Smith” after it quickly gained popularity among employees. The tool is designed to automate coding and handle routine work tasks with minimal human involvement.

Agent Smith stands out for its ability to perform multi-step tasks independently. Employees can assign work from their smartphones, and the AI continues processing in the background, allowing greater flexibility and efficiency.

The system also connects with Google’s internal platforms to retrieve documents and relevant data, reducing manual effort and speeding up workflows. Its growing use reflects a shift from basic AI assistants to more advanced, autonomous agents.

The rise of the tool aligns with CEO Sundar Pichai’s focus on integrating AI into daily operations. Sergey Brin has also emphasized that such AI agents will play a key role in the company’s future.

While details remain limited, Agent Smith’s rapid adoption signals how AI is increasingly transforming workplace productivity.

Also Read: Anthropic plans $60 billion IPO amid AI boom

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Beyond

Centre to borrow ₹8.2 lakh cr in 1st half of FY27

The Government of India will borrow ₹8.2 lakh crore from the market during the first half of the 2026‑27 fiscal year (April–September) to meet its fiscal needs. This accounts for roughly half of the total annual borrowing target of ₹16 lakh crore announced in the Budget.

The funds will be raised through government bonds of varying maturities, issued via 26 weekly auctions conducted with the Reserve Bank of India (RBI). Spreading borrowings across weekly auctions is intended to maintain stability in the debt market and reduce pressure on interest rates.

About 25 percent of the borrowing will come from long-term bonds, with maturities ranging up to 30–50 years. This approach is designed to secure long-term funding at stable rates and manage debt repayment schedules effectively.

In addition to traditional bonds, the government plans to raise ₹15,000 crore through Sovereign Green Bonds. These bonds will finance environmentally sustainable projects and support India’s climate action and green infrastructure initiatives.

The borrowing plan is part of the government’s broader fiscal framework for FY27, aimed at balancing the fiscal deficit while funding essential public services, infrastructure, and other budget priorities. Borrowings are necessary even after accounting for revenues, small savings contributions, and other financing sources.

Also Read: Apple to invest $400 million to boost US manufacturing

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Beyond

Trump’s signature to appear on US currency

In a notable policy shift, the United States Treasury has approved a change in currency design that will introduce Donald Trump’s signature on new US banknotes, replacing the long-standing inclusion of the US Treasurer’s signature.

The decision marks the end of a 165-year-old convention, under which US currency carried the signatures of both the Treasury Secretary and the Treasurer. Going forward, new notes will feature the signature of the President alongside that of the Treasury Secretary, reflecting a significant departure from established practice.

The rollout is expected to begin with the $100 bill from June 2026, with other denominations to follow in phases. Existing currency will continue to remain legal tender and circulate alongside the newly issued notes, ensuring no immediate disruption to the financial system.

Officials have positioned the move as part of a broader symbolic refresh tied to the 250th anniversary of US independence, framing it as a design evolution rather than a structural change. Importantly, the update does not alter any functional or security features of the currency.

From a market and institutional perspective, the impact is expected to be limited. Analysts note that the change is largely cosmetic and does not affect monetary policy, currency valuation, or the role of the US dollar in global markets. However, it does signal a shift in how national identity is reflected in financial instruments.

The decision has generated mixed reactions. Supporters view it as a modernisation step aligned with national milestones, while critics argue it breaks with long-standing institutional norms designed to keep currency design politically neutral.

Also Read: Petrol duty reduced to ₹3, diesel to zero

 

 

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Beyond

India sets 47% cut, 60% clean power by 2035

India has announced a more ambitious set of climate targets for 2035, reinforcing its commitment to tackle climate change while sustaining economic growth. The updated goals, approved by the Union Cabinet, form part of India’s revised Nationally Determined Contributions (NDCs) under the Paris Agreement framework.

A key highlight of the new plan is the target to reduce emissions intensity by 47% from 2005 levels by 2035. Emissions intensity measures the amount of greenhouse gases produced per unit of GDP, and lowering it reflects a shift toward cleaner and more efficient economic activity.

India has also raised its clean energy ambition significantly. The country now aims to achieve 60% of its installed electricity capacity from non-fossil fuel sources by 2035. This is an increase from the earlier 50% target set for 2030, which India has already met ahead of time. The move signals rapid progress in renewable energy sectors such as solar and wind power.

Another important component of the updated targets is the expansion of carbon sinks. India plans to increase its forest and tree cover to absorb between 3.5 and 4 billion tonnes of carbon dioxide equivalent by 2035. This highlights the role of forests and ecosystems in offsetting emissions and supporting climate resilience.

The government stated that these revised targets are designed to balance environmental responsibility with development needs. India, as a developing country, continues to emphasize the importance of equitable climate action, noting that developed nations must take the lead in reducing global emissions.

India has already made notable progress in recent years, achieving a significant reduction in emissions intensity and expanding its renewable energy capacity. However, challenges remain, including rising energy demand and dependence on coal.

Also Read: CCPA bans extra charges in restaurant bills

 

 

 

 

Categories
Leaders

OpenAI hires former JioStar CEO for Asia-Pacific

OpenAI has appointed Kiran Mani, former CEO of JioStar, to head its Asia-Pacific (APAC) operations, underlining the company’s growing focus on the region, especially India, as demand for artificial intelligence continues to rise.

Mani will join OpenAI as Managing Director for APAC in June and will be based in Singapore. In this role, he will oversee the company’s business growth, partnerships, and overall strategy across key Asian markets. His appointment reflects OpenAI’s intent to strengthen its presence closer to one of the fastest-growing digital user bases in the world.

With Asia emerging as a major battleground for AI companies, OpenAI is looking to expand beyond its stronghold in the United States. Countries like India, with a large and tech-savvy population, are becoming increasingly important for the adoption of AI tools across businesses and consumers.

Mani brings more than 20 years of experience in the technology and digital ecosystem. At JioStar, a joint venture between Reliance Industries and Disney, he played a key role in scaling the company’s streaming platform and expanding its reach to hundreds of millions of users. His work focused on building digital products and driving user engagement at scale.

Before that, Mani held senior roles at Google, where he worked on expanding Android and Google Play services across Asia-Pacific. He has also been associated with Microsoft and IBM earlier in his career, giving him a strong background in both enterprise and consumer technology.

OpenAI has been steadily building its footprint in Asia, setting up offices and teams in markets such as Japan, South Korea, Australia, and India. The company has also been exploring partnerships and investments in the region to support AI infrastructure and adoption.

Also Read: Infosys to buy Optimum Healthcare IT for $465 mn