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.
Business
‘Its Prime Real Estate’: Anand Mahindra Expresses Awe At Grandiose Of Brabus Big Boy 1200
In the City of Dreams that is Mumbai, one of the biggest ‘dreams’ of most who live in the metropolis is to find an abode, that they can call it their own. Real estate in Mumbai is known for its sky-high pricing, with figures of Rs 10-15 crore not surprising anyone.
The Motorhome
Space is a major issue in city, given the paucity of it, in a region that encompasses millions. However, what happens when the space is not only available but also mobile? That is precisely what a ‘motorhome’.
It may not been the most commonly seen or discussed avenue in this part of the world, but in other parts of the world, particularly in the US, an RV or recreational vehicle is the way of life, either by choice or by circumstance.
Mahindra Group chairman, Anand Mahindra recently reacted to one such motorhome. In a post on X, he shared a minute-long clipping of the Brabus Big Boy 1200. This is an uber-luxe, profligate motorhome manufactured by the German automobile company Brabus.
Mahindra, while reacting to the video of a person showing around the bus said, That’s not transport. It’s prime real estate.”
And one may arguably agree with Mahindra on this. The vehicle is extravagant and has a length of 12 meters or 39.4 ft and over 30 square meters or 320 sq ft. For context, the average size of homes in city of Mumbai hovers around 400-700 sq ft.
What Are The Features Of This Motorhome?
In addition, the vehicle also has two electrically extendable slide-outs on each side. These slide-outs can extend the bedroom and saloon to a width of 4.50 meters.
In addition, the motorhome also consists of a double bed measuring 160 x 200 centimeters.
A closet is integrated into the rear wall of the vehicle.
For amusement, the vehicle also has a desk and a 43-inch 4K television. Here one could watch TV programs that have been made available on the system play games on the integrated Playstation 5 system.
In addition, one can also connect to the internet through the Starlink system.
When it comes to the vehicle, it runs on a12.8-liter six-cylinder turbodiesel engine. This engine can deliver 390 kW / 530 hp and can generate a maximum torque of 2,600 Nm.
The vehicle is priced at around USD 1.5 million or a whopping Rs 12 crore.
Business
‘If They Tax Us We Tax Them’: Donald Trump Gives Fresh Warning To India
US President-Elect Donald Trump has issued a fresh warning to India saying that if it taxes American products, the US will do the same. Trump’s words came during his interaction with journalists at his Mar-a-Lago resort Since his first term, Trump has been hawkish about taxing foreign products but has not fully implemented what he has said. However, Trump’s warnings are taken seriously as markets move according to what a US president says.
“If they tax us, we tax them the same amount,” Trump told reporters.
Other than about India, Trump has been vocal about taxes imposed on American products by Brazil, Mexico and China.
“The word reciprocal is important because if somebody charges us – India, we don’t have to talk about our own – if India charges us 100 per cent, do we charge them nothing for the same? You know, they send in a bicycle, and we send them a bicycle. They charge us 100 and 200. India charges a lot,” said Trump.
“India charges a lot. Brazil charges a lot. If they want to charge us, that’s fine, but we’re going to charge them the same thing,” he added.
The outgoing administration of US President Joe Biden has sounded upbeat about India-US ties. On Tuesday, Biden administration said that it was leaving India-US relations “in a very strong place”
“We continue to be very ambitious about the US-India relationship. We’ve had very high-level engagement over the course of the last several months with the QUAD summit in Delaware, and we are anticipating a high-level engagement in the last few weeks of the Biden administration,” said US Deputy Secretary of State Kurt Campbell on Tuesday.
Business
Who Was Suchir Balaji? OpenAI Whistleblower Found Dead Allegedly By Suicide In San Francisco
Suchir Balaji, a former researcher at OpenAI, allegedly took his own life in his apartment in San Francisco, according to the San Francisco Office of the Chief Medical Examiner. In an interview with The New York Times in October, the 26-year-old Indian American man expressed worries about OpenAI violating copyright law.
Found Dead In His Apartment
A representative from the San Francisco Police Department verified that the young researcher was discovered deceased in his Buchanan Street apartment on November 26. After officers and medics were summoned to his home in the city’s Lower Haight district for a wellness check after concerns were raised by his friends and colleagues. Officers discovered Suchir Balaji deceased. Police have reported that no signs of foul play have been discovered and ruled possibility of suicide.
A TechCrunch report states that the Office of the Chief Medical Examiner (OCME) has recognized the deceased as Suchir Balaji, 26, from San Francisco. The cause of death has been established as suicide. The OCME has informed his relatives.
Who was Suchir Balaji?
Suchir Balaji was a 26 year old AI researcher who studied computer science at the University of California, Berkeley, before working at OpenAI. He interned at OpenAI and Scale AI while in college.
During his early days at OpenAI, Balaji worked on WebGPT, and later went on to work on the pretraining team for GPT-4, reasoning team with o1, and post-training for ChatGPT, his LinkedIn states.
Balaji quit OpenAI after working at the company for four years. He told The New York Times that he realised the technology would bring more harm than good to society, his main concern being how OpenAI allegedly used copyright data.
Balaji expressed his concerns in an X post in October, saying, “ initially didn’t know much about copyright, fair use, etc. but became curious after seeing all the lawsuits filed against GenAI companies. When I tried to understand the issue better, I eventually came to the conclusion that fair use seems like a pretty implausible defense for a lot of generative AI products, for the basic reason that they can create substitutes that compete with the data they’re trained on.”
The day prior to the discovery of the OpenAI whistleblower’s death, a court document allegedly identified him in a copyright case filed against the company. OpenAI, in a gesture of good faith, stated that it would review Balaji’s custodial file concerning the copyright issues he raised.
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