International
Rupee ends 6 paise up against US dollar at 79.52

The Indian rupee ended 6 paise up, at 79.52, against the US dollar on Monday following stronger regional currencies and risk-on sentiments ahead of inflation data.
At the Interbank foreign exchange market, rupee ended at 79.52, as against 79.58 against the US dollar.
“Indian rupee appreciated for the third day in a trot following stronger regional currencies and risk-on sentiments ahead of inflation data. The market is expecting a surge in inflation to 6.9 per cent from the previous 6.7 per cent amid higher commodity prices,” said Dilip Parmar, Research Analyst, HDFC Securities.
The Dollar index, which gauges the the strength of greenback against the basket of six major currencies, was at 107.942.
“Inflation will take centre stage this week as major economies unveil CPI updates. DXY has sharply cooled off from 110.78 to below 109.00 levels with hawkish ECB lifting the euro. But DXY may find support at 108.20 levels,” said Kunal Sodhani, Vice President, Global Trading Center, Shinhan Bank.
“Prices have been taking support near 79.90-80.00 mark strongly and faced resistance near 79.50, which is the 50 dma mark, if prices starts trading higher above 79.50 on rupee then further rise in rupee can be seen which can take price of rupee towards 79.00 levels,” said Jateen Trivedi, VP Research Analyst at LKP Securities.
Brent crude oil prices were at $93.78 a barrel by the closing of Indian market hours.
Meanwhile, Benchmark indices ended sharply up on Monday following firm global cues.
Sensex ends up 321.99 points, or 0.54 per cent, at 60,115.13, and Nifty closed 103.00 points, or 0.58 per cent, up at 17,936.35. As many as 2,189 shares advanced, 1,394 shares declined, and 176 shares remained unchanged.
Titan, Axis Bank, Tech Mahindra, Tata Steel, Infosys were major gainers on the Sensex. BSE LargeCap was 0.64 per cent up, and BSE SmallCap and MidCap closed 1 per cent and 0.89 per cent up.
International
PM Modi to visit Thailand for sixth BIMSTEC Summit

New Delhi, April 1: Prime Minister Narendra Modi will be on a two-day visit to Thailand, beginning Thursday, for the sixth BIMSTEC Summit, during which he will meet his counterpart, Paetongtarn Shinawatra and hold bilateral ties.
During the visit, PM Modi will be enhancing India’s deep civilisational linkages, maritime connectivity, and cross-cultural exchanges with member countries of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Summit.
At the summit, themed ‘BIMSTEC – Prosperous, Resilient and Open’, the leaders are also expected to discuss various institutional and capacity-building measures to augment collaboration within the BIMSTEC framework, the Ministry of External Affairs said last week.
India has been taking several initiatives in BIMSTEC to strengthen regional cooperation and partnership, including in enhancing security; facilitating trade and investment; establishing physical, maritime and digital connectivity; collaborating in food, energy, climate and human security; promoting capacity building and skill development; and enhancing people-to-people ties,” read a statement issued by the MEA.
PM Modi’s visit to the South Asian country at the invitation of the Thai government is expected to strengthen ties and reaffirm India’s commitment to regional cooperation.
This would be the second meeting between PM Modi and his Thai counterpart, Prime Minister Paetongtarn Shinawatra.
Earlier, PM Modi visited Thailand in 2019, and this visit is expected to build on the positive momentum of bilateral relations.
The last BIMSTEC Summit was hosted by Colombo in virtual format.
Established in June 1997, the BIMSTEC regional grouping forms a unique link between South and South-East Asia with five members from South Asia – Bangladesh, Bhutan, India, Nepal and Sri Lanka – and two from South-East Asia, including Myanmar and Thailand.
Thailand is India’s maritime neighbour, a valuable partner in the Act East policy and vision for the Indo-Pacific, and also a highly valued partner in BIMSTEC.
India and Thailand are maritime neighbours with shared civilisational bonds underpinned by cultural, linguistic, and religious ties.
Notably, India recently sent the holy relics of Lord Buddha and two of his main disciples for a 25-day exposition across five different cities of Thailand, and its unprecedented success cemented age-old ties between the two nations.
Business
OpenAI is not for sale, Board tells Elon Musk

San Francisco, Feb 15: Sam Altman-run OpenAI on Saturday rejected billionaire Elon Musk’s offer to buy the nonprofit company for $97.4 billion.
In a statement on X social media platform, Bret Taylor, Board Chair of OpenAI, called Musk’s bid “an attempt to disrupt his competition.”
“OpenAI is not for sale, and the board has unanimously rejected Mr. Musk’s latest attempt to disrupt his competition,” Taylor posted.
“Any potential reorganisation of OpenAI will strengthen our nonprofit and its mission to ensure AGI benefits all of humanity,” said Taylor on behalf of the OpenAI Board of Directors.
According to reports, OpenAI has also sent a letter to Musk’s lawyer, saying that the bid was not in the best interests of its mission.
Earlier this week, Musk’s AI company, xAI, and a group of investors offered to buy OpenAI’s nonprofit for $97.4 billion.
Altman and the company’s board of directors dismissed the unsolicited proposal.
In a statement, Andy Nussbaum, the counsel representing OpenAI’s board, said Musk’s bid “doesn’t set a value for OpenAI’s nonprofit” and the nonprofit is “not for sale.”
Musk was an OpenAI co-founder and brought a lawsuit against the company and Altman, alleging that OpenAI engaged in anticompetitive behaviour and fraud, among other offences.
In October last year, Musk filed for a preliminary injunction against OpenAI for alleged anti-competitive behaviour.
The motion for an injunction accused OpenAI, its CEO Altman, President Greg Brockman, Microsoft, LinkedIn co-founder and former OpenAI board member Reid Hoffman, and former OpenAI board member and Microsoft VP Dee Templeton of “various illicit activities and seeks to halt them”.
The allegations also included converting OpenAI’s governance structure to a for-profit and “transferring any material assets, including intellectual property owned, held, or controlled by OpenAI, Inc., its subsidiaries, or affiliates.”
OpenAI said in a statement that “Elon’s fourth attempt, which again recycles the same baseless complaints, continues to be utterly without merit.”
The AI company had earlier called the lawsuit “blusterous” and baseless.
Business
Aero India 2025: Futuristic warfare tech takes centre stage at Adani’s Defence & Aerospace stall

Bengaluru, Feb 12: The Adani Defence and Aerospace stall, showcasing futuristic technology, has been one of the main attractions at Asia’s largest five-day air show and the 15th edition of the country’s premier aerospace exhibition ‘Aero India 2025’ in Bengaluru.
Focusing on cutting-edge technology, the spacious stall features state-of-the-art weaponry. The highlight of the display is the ‘Vehicle-Mounted Counter-Drone System’, developed in collaboration with the Defence Research and Development Organisation (DRDO).
The stall presents futuristic weaponry across four layers of defence, covering protection, detection, neutralization, and the use of artificial intelligence in safeguarding national borders.
Speaking to media, Ashish Raghuvanshi, CEO of Adani Defence and Aerospace, stated, “All the capabilities we are working on are on display at the show. From drones to small arms, ammunition, missiles, surface-guided missiles, and most importantly, artificial intelligence and advanced machinery, Adani has been working closely with the defence sector.”
Ashok Wadhwan, Head of Land Systems, said, “We aim to become strategic partners of the defence forces. Our focus is on futuristic technology, developing products that go beyond their expectations. If they can imagine a capability, we want to turn it into reality and build those advanced systems in India.”
Providing details about the display, Wadhwan elaborated, “We have structured our technology into four layers. The first layer focuses on protection, which includes unmanned vehicles and unmanned underwater systems designed for initial surveillance and threat detection.”
He continued, “The second layer is detection, which includes aircraft converted into aerial surveillance platforms — our ‘eyes in the sky’. We are focusing on detection across land, air, and underwater domains. The third layer is neutralization, which includes loitering objects, missiles, and other ammunition. The final layer comprises advanced weaponry, including firearms.”
“In addition, we are showcasing artificial intelligence-powered solutions designed to protect forces. Our capabilities are built to detect, neutralize, and safeguard borders,” he said.
“Our primary focus is on the Indian Army, Navy, and Air Force, though exports are also part of our strategy. However, our priority remains our national defence forces,” Wadhwan underlined.
“We are collaborating with Defence Public Sector Units (DPSUs) rather than competing with them. Our aim is to partner with them to enhance national defence capabilities,” he added.
Discussing the partnership with DRDO, he explained, “We work closely with DRDO as a Development cum Production Partner (DcPP) for missiles and counter-drone systems. We have localized these technologies and successfully delivered them to the armed forces.”
Highlighting the significance of the Vehicle-Mounted Counter-Drone System, Ashish Raghuvanshi, CEO of Adani Defence and Aerospace stated, “Electronic warfare is a crucial aspect of future air defence. Drones pose significant threats to both civil and military establishments. The system displayed here can detect drones of all sizes and offers users multiple options for neutralization.”
“Operators can choose between a soft-kill jammer or a hard-kill laser. This innovation is a major advancement for the country, developed under a public-private partnership. We will continue to innovate and improve these solutions,” he added.
Emphasizing the importance of detection in electronic warfare, Raghuvanshi noted, “Detection is a critical component of electronic warfare. Our modular and effective solution can distinguish between a friend and a foe, enhancing operational security.”
On the benefits of partnering with DRDO, he said, “For example, DRDO’s Centre of Excellence for missiles is among the best in the world. Strengthening public-private partnerships will help elevate these technologies to the next level, ensuring India remains at the forefront of defence innovation.”
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