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Adobe CEO Shantanu Narayen to step down

Adobe has announced that its chief executive officer, Shantanu Narayen, will step down from the position after leading the global software company for nearly two decades.

The company said Narayen will remain in the role until a new CEO is appointed. After the transition, he will continue as chairman of Adobe’s board and assist the incoming leader during the change in leadership.

Adobe’s board has started the process of finding a successor and has formed a special committee to oversee the search. The company said it will consider both internal and external candidates for the position.

Narayen has been serving as Adobe’s CEO since 2007 and is credited with playing a key role in transforming the company into one of the world’s leading software firms. During his tenure, Adobe moved away from selling traditional packaged software and shifted to a cloud-based subscription model for its popular products.

Under his leadership, services such as Creative Cloud and Document Cloud became central to Adobe’s business. These platforms include widely used tools like Photoshop, Illustrator and Acrobat.

The company also expanded into digital marketing and invested heavily in new technologies, including artificial intelligence, which are now being integrated into many of its products.

In a message to employees, Narayen said he would work closely with the board and leadership team to ensure a smooth transition. He added that the company is well positioned for its next phase of growth.

Following the announcement, several leaders in the technology industry praised Narayen’s contribution to the sector. Microsoft CEO Satya Nadella described his leadership as remarkable and highlighted the impact he had on Adobe’s growth and innovation.

Narayen joined Adobe in 1998 and later became the company’s president and chief operating officer before taking over as CEO.

During his leadership, Adobe grew significantly in market value and strengthened its position as a global leader in creative and digital document software.

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Dr. Rasha Kelej among top 100 impactful voices 2026

Dr. Rasha Kelej, CEO of the Merck Foundation, has been named one of the “100 Most Impactful Voices 2026” by ABCD Africa, highlighting African women leaders who are making a tangible difference in their communities. The announcement, timed ahead of International Women’s Day 2026, celebrates women across all 54 African nations who are driving social change, including heads of state and influential community leaders.

This accolade adds to Dr. Kelej’s long list of recognitions. She was listed among the “100 Most Influential Africans 2025” by New African Magazine and has been acknowledged for seven consecutive years among the “100 Most Influential African Women” by Avance Media. These honours reflect her dedication to expanding healthcare access, promoting girls’ education, and empowering women throughout Africa.

In a statement, Dr. Kelej expressed her gratitude for the recognition and highlighted the foundation’s work over the past 14 years. She spoke of her commitment to strengthening healthcare services, transforming patient care, combating infertility stigma, and supporting education for underprivileged girls. She also congratulated fellow honourees and emphasised the power of collective efforts in creating positive change.

Under her leadership, the Merck Foundation has trained thousands of healthcare providers through scholarships in 44 critical medical fields across 52 countries. In collaboration with African first ladies, the foundation provides annual scholarships to over 1,200 high-achieving but underprivileged girls from 19 countries, helping them complete their education and build careers.

Dr. Kelej is also the founder of the “Merck Foundation More Than a Mother” campaign, a programme supporting infertile and childless women through education, counselling, and healthcare services. Beyond this, she has led initiatives to address child marriage, female genital mutilation, and health awareness on conditions such as diabetes, hypertension, and cancer through media campaigns, storybooks, and community outreach.

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Elon Musk tops Forbes Billionaires list

The 2026 Forbes World’s Billionaires list shows a record number of wealthy people around the world. There are now 3,428 billionaires, the most in the list’s 40-year history. Together, they are worth $20.1 trillion, up from $16.1 trillion last year.

Elon Musk is at the top, becoming the richest person ever with an estimated net worth of $839 billion. His wealth has grown by about $500 billion in one year, thanks to the rising value of Tesla and SpaceX. Musk is the first person to reach more than $800 billion and could become the world’s first trillionaire if this continues.

The next richest are tech leaders Larry Page ($257 billion) and Sergey Brin ($237 billion), co-founders of Google. Jeff Bezos ($224 billion) and Mark Zuckerberg ($222 billion) follow them.

This year’s list also includes 390 newcomers, like musician and entrepreneur Dr. Dre, singer Beyoncé, tennis star Roger Federer, and Kimbal Musk, Elon Musk’s brother. Many of them joined the list because they now own large shares in successful companies.

The United States has the most billionaires with 989 people, followed by China (539) and India (229). Celebrity billionaires are also increasing. There are now 22 athletes and entertainers worth over $48 billion in total, up from 18 last year.

Forbes’ ranking is based on the value of stocks, companies, and other assets as of March 1, 2026. The list shows that most of the world’s wealth is still concentrated in technology and media, with new gains coming from AI and other fast-growing industries.

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Pieter Elbers resigns as IndiGo CEO

IndiGo CEO Pieter Elbers has resigned from his position with immediate effect, the airline confirmed. The leadership change comes a few months after the carrier faced a major operational crisis that led to widespread flight disruptions.

The airline said its board has accepted Elbers’ resignation. Following his exit, Managing Director and co-founder Rahul Bhatia will temporarily oversee operations until a new chief executive is appointed.

Elbers reportedly stepped down citing personal reasons and requested that the company waive his notice period. In his message, he thanked the airline’s employees and said it had been a privilege to lead the company during his tenure.

His resignation comes around three months after the airline faced one of the biggest operational challenges in its history. In December 2025, thousands of flights were cancelled or delayed after changes in pilot duty and rest regulations disrupted scheduling across the airline’s network. The situation left many passengers stranded and drew criticism from travellers and regulators.

Despite the crisis, IndiGo remains India’s largest airline, with the biggest share of the domestic aviation market and an extensive network of flights across India and international destinations.

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IMF Chief warns Iran conflict surging inflation

The head of the International Monetary Fund has warned that rising tensions in West Asia could push up global inflation if the conflict leads to a sustained increase in oil prices.

Kristalina Georgieva, Managing Director of the International Monetary Fund, said the ongoing crisis in the region is already creating uncertainty in energy markets and could have wider economic consequences. Speaking at an international symposium hosted by Japan’s finance ministry in Tokyo, she urged policymakers to prepare for unexpected developments.

Georgieva cautioned governments and central banks to “think of the unthinkable” as geopolitical tensions remain unpredictable. She said policymakers should remain vigilant and be ready to respond quickly if the situation worsens.

According to the IMF chief, a sharp rise in oil prices could translate into higher inflation globally. She noted that if oil prices increase by about 10 per cent and remain elevated for a prolonged period, it could add roughly 0.4 percentage points to global inflation.

Energy markets have been particularly sensitive to developments in West Asia because the region plays a crucial role in global oil supply. Any disruption to production or shipping routes could quickly affect energy prices worldwide.

One key concern for markets is the Strait of Hormuz, through which a significant portion of the world’s oil shipments pass. Any disruption along this route could lead to further volatility in global energy markets.

Georgieva said the global economy has shown resilience in recent years despite multiple shocks, including the pandemic and geopolitical conflicts. However, she warned that prolonged instability in West Asia could once again challenge economic recovery and complicate efforts to control inflation.

She added that governments and financial institutions should continue monitoring the situation closely and prepare policy responses if needed.

The IMF is currently assessing the possible economic impact of the conflict on different countries. Georgieva said the organisation will provide a clearer analysis in its upcoming global economic assessments, which will examine how the crisis could influence growth, inflation and financial stability in the months ahead.

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RBI clears Anup Kumar Saha for Kotak Board

The Reserve Bank of India has approved the appointment of Anup Kumar Saha as a Whole-time Director at Kotak Mahindra Bank, strengthening the bank’s senior leadership team.

The bank announced that the central bank granted its approval earlier this month, allowing Saha to officially take up the role on the bank’s board. His appointment is part of Kotak Mahindra Bank’s efforts to further strengthen its management team as it continues to expand its retail and digital banking businesses.

Saha brings more than three decades of experience in the financial services sector. Before joining Kotak Mahindra Bank, he worked with Bajaj Finance, where he held several senior positions. He also briefly served as the company’s Managing Director and Chief Executive Officer.

Earlier in his career, Saha spent several years at ICICI Bank, gaining extensive experience in consumer lending, retail banking and financial services. His experience across both banks and non-banking finance companies is expected to help Kotak strengthen its consumer-focused businesses.

At Kotak Mahindra Bank, Saha will oversee key areas including consumer banking, marketing and data analytics. These divisions are central to the bank’s strategy as it focuses on expanding its customer base and improving digital banking services.

Industry experts say leadership changes like this are becoming increasingly important in India’s banking sector as competition grows and financial institutions invest more in technology and data-driven services.

Saha had earlier joined Kotak Mahindra Bank’s senior management team as a Whole-time Director (designate), subject to regulatory approval. With the RBI now giving its formal clearance, the appointment process has been completed.

Kotak Mahindra Bank believes Saha’s experience in building large-scale financial businesses and driving innovation will help the bank strengthen its retail banking operations and improve customer engagement.

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OpenAI robotics head quits over Pentagon AI deal

A senior robotics executive at OpenAI has stepped down after raising concerns about the company’s agreement to provide artificial intelligence technology to the United States Department of Defense.

Caitlin Kalinowski, who led OpenAI’s robotics and consumer hardware division, announced that she was leaving the company following the deal that allows OpenAI’s AI tools to be used within the Pentagon’s secure systems. Her resignation has brought renewed attention to the ethical debate surrounding the use of artificial intelligence in military operations.

In a message explaining her decision, Kalinowski said she believes artificial intelligence can be useful in many areas, including national security. However, she expressed concern about how such powerful technology might be used in warfare or surveillance if strict safeguards are not in place.

The partnership between OpenAI and the Pentagon is intended to help the US military use advanced AI systems for tasks such as analysing large amounts of data, improving decision-making and supporting defence operations. Supporters of the agreement say such technology can help the military respond more effectively to security challenges.

However, the deal has also sparked debate within the technology community. Some experts and industry professionals worry that partnerships between major AI companies and defence organisations could lead to the development of systems that may be used for surveillance or autonomous weapons in the future.

OpenAI has said that its agreement with the Pentagon includes clear restrictions. The company stated that its technology will not be used for domestic surveillance or to create fully autonomous weapons. It also said it remains committed to developing AI responsibly and ensuring that its systems are used safely.

Kalinowski joined OpenAI in 2024 after previously working at Meta Platforms, where she was involved in hardware development for augmented reality projects.

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Sundar Pichai’s pay package may reach $630 mn

Google CEO Sundar Pichai could earn as much as $692 million over the next three years after parent company Alphabet Inc. approved a new compensation package linked largely to company performance.

The pay package places Pichai among the highest-paid executives in the global technology industry. However, most of the amount is not a fixed salary. Instead, it comes in the form of stock awards that depend on how well the company performs in the coming years.

Pichai’s base salary will remain $2 million per year, which is relatively modest compared to the overall compensation. The bulk of the package will come through performance-based shares that could increase in value if Alphabet continues to grow.

Reports say the deal includes performance stock units worth around $126 million, which could rise to about $252 million if the company significantly outperforms other large firms in the S&P 100 index. In addition, he will receive restricted stock worth about $84 million, which will be granted gradually over three years as long as he remains with the company.

The company has also linked part of the incentives to the growth of some of its future-focused businesses. These include self-driving car project Waymo and drone delivery service Wing. If these businesses perform well, Pichai could receive additional stock rewards.

Alphabet’s board said the compensation structure is meant to reward long-term leadership and align the CEO’s pay with the company’s success. In other words, Pichai will benefit the most only if the company performs strongly in the coming years.

Pichai has led Google since 2015 and became CEO of Alphabet in 2019. Under his leadership, the company has expanded rapidly in areas such as cloud computing, artificial intelligence, hardware and digital services.

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US to raise global tariff to 15%, says Scott Bessent

The United States plans to increase a global tariff on imports to 15% starting this week, as the government looks for ways to maintain its trade policy while dealing with legal challenges.

US Treasury Secretary Scott Bessent said the higher tariff will be introduced as a temporary step after a court decision blocked parts of the tariff programme earlier introduced by former president Donald Trump.

Earlier, the US had imposed a 10% tariff on imports from many countries after the court ruling created uncertainty around the previous tariff structure. The new 15% rate will replace that temporary level while the government works on restoring its earlier trade measures.

Bessent said the administration is using a trade law that allows the US president to impose tariffs of up to 15% for a limited period without full congressional approval. This provision can be used for up to 150 days. According to him, the government expects the higher tariff to remain in place for about five months.

During this period, the administration will work on bringing back the earlier tariff system through other legal mechanisms. Bessent said the goal is to ensure that the US can continue applying trade pressure where needed while also complying with legal requirements.

The tariff move is part of broader efforts by the US to reshape global trade relations and encourage domestic manufacturing. Tariffs are often used by governments to make imported goods more expensive, which can help protect local industries.

Bessent indicated that the administration expects the tariff situation to stabilise later this year once the earlier trade measures are reinstated through the proper legal process.

For now, the temporary 15% tariff is expected to remain in place while the government works to restore its broader trade policy framework.

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Jio Platforms CEO bets on AI tokens for telecom’s future

Jio Platforms is positioning itself for a new phase in the telecom industry, where artificial intelligence rather than basic connectivity will drive growth. Speaking at Mobile World Congress 2026 in Barcelona, Group CEO Mathew Oommen said the technology landscape is undergoing a major transformation as AI becomes central to digital services.

Oommen said the telecom industry is moving beyond simply connecting people and devices. Instead, networks will increasingly function as intelligent digital infrastructure capable of powering AI applications across sectors. According to him, this shift represents a structural change in how technology platforms operate and generate value.

To prepare for this transition, Jio is working on what it describes as an “Intelligence Grid.” The idea is to combine connectivity, computing power and artificial intelligence into a single ecosystem that can support large-scale AI services. This infrastructure, the company believes, will help businesses, developers and consumers access AI capabilities more easily.

A key concept in Jio’s strategy is the use of “AI tokens.” These tokens represent the units used by AI systems to process data and generate responses. Oommen explained that in the emerging AI economy, tokens could function much like voice minutes and mobile data once did in telecom, as a way to measure and price usage.

Jio plans to make AI tokens significantly cheaper, following a strategy similar to the one it used when it disrupted India’s telecom market by drastically lowering the cost of mobile data. By reducing the cost of AI computing, the company hopes to accelerate adoption of AI technologies across industries.

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