Friday, August 28
President Donald Trump signed an executive order Thursday aimed at blocking states from crafting their own regulations for artificial intelligence, saying the burgeoning industry is at risk of being stifled by a patchwork of onerous rules while in a battle with Chinese competitors for supremacy.Members of Congress from both parties, as well as civil liberties and consumer rights groups, have pushed for more regulations on AI, saying there is not enough oversight for the powerful technology.But Trump told reporters in the Oval Office that "there's only going to be one winner" as nations race to dominate artificial intelligence, and China's central government gives its companies a single place to go for government approvals."We have the big investment coming, but if they had to get 50 differ
Global alternative investment major Brookfield Asset Management is planning to invest $1 billion to develop Asia’s largest global capability centre (GCC) on a 6-acre land parcel in Mumbai’s Powai suburb with a total leasable area of 2 million sq ft.The project, to be completed by 2029, is expected to create over 30,000 jobs. It is being undertaken through an agreement between the Mumbai Metropolitan Region Development Authority (MMRDA) and a venture led by Brookfield along with its partner B.S. Sharma.“Maharashtra’s continued focus on talent, infrastructure and a supportive business environment is strengthening the state’s position as a destination for global capability centres. The new GCC Policy we announced earlier this year, builds on this momentum and is designed to attract
Zerodha co-founder and chief executive Nithin Kamath has explained why the company has chosen to limit its lending business to loans against securities and has stayed away from products such as personal loans and credit cards.In a post on X, Kamath said the question came up internally on why Zerodha Capital does not offer unsecured credit products that typically carry much higher interest rates. He said the main reason is that Zerodha cannot compete on funding costs. According to him, Zerodha’s cost of funds is around 8.5%, while banks raise money at roughly 3.5% and large non-banking finance companies at around 7%.Kamath said this makes it difficult to compete on interest rates. He added that in lending, the best borrowers usually go to institutions offering the lowest rates. Without a
Even as the Securities and Exchange Board of India (Sebi) deferred the third phase of its nomination framework following concerns from depositories and other stakeholders over operational hurdles, Zerodha founder and CEO Nithin Kamath flagged that the broker is still struggling to get many of its users to add nominees.He added that users should also inform the individuals they designate as nominees to ensure the funds don’t remain unclaimed."Despite the nomination process being fully online and despite repeated nudges, 62% of @zerodhaonline users with holdings don't have a nominee. If you haven't added any nominees, it takes barely a couple of minutes (check the reply). While adding nominees is a good first step, you still have to inform the nominees. Otherwise, even money and investment
