Author: TheSpuzz Desk

The mayhem in Adani Groups’ shares in the last two trading sessions has eroded nearly Rs 24,000 crore of value for state-owned Life Insurance Corporation (LIC) and mutual funds (MFs). This is an indirect hit for small investors channeling their investments through LIC and MFs. Overall, the Adani group stocks have seen an erosion of Rs 4.18 trillion (around $50 billion) of market value . LIC is the biggest domestic institutional investor in the Adani group. It has more than 5 per cent stake in four listed Adani group stocks. By…

Chinese travel has picked up with the arrival of the Lunar New Year. (File) Beijing: Almost a quarter more domestic Chinese tourism trips have been made during this year’s Lunar New Year holiday, while cross-border travel more than doubled in the first six days of the week-long break following the end of strict COVID-19 curbs. A total of 308 million tourism trips within China have been made during the current holiday period, up 23.1% from 2022’s Lunar New Year break and marking a recovery to 88.6% of the number in 2019, data from the culture and tourism ministry showed on…

A viral Twitter thread depicts portraits of 21 emperors imagined using artificial intelligence. All of us have read about great rulers in Indian history during our school days. We mostly remember them through the paintings shown in our textbooks or sculptures seen when visiting any historical site. However, one artist went a step ahead and reimagined how these rulers belonging to different dynasties would look like using artificial intelligence. A viral Twitter thread depicts portraits of 21 emperors including Bindusara, Prithviraj Chauhan, Ashoka, Chhatrapati Shivaji, Ranjit Singh, Shah Jahan, and Sikandar Lodi. Although some users said that the thread brought…

Representative Jake Auchincloss speaks to reporters in 2020. | Photo by Jessica Rinaldi/The Boston Globe via Getty Images We’ve reached the political stunt stage of AI-generated text, it seems. As reported by WBZ NewsRadio, CBS Boston, and others, the Democratic Representative for Massachusetts, Jake Auchincloss, has become the first member of congress to deliver an AI-written speech on the floor of the House of Representatives. Appropriately enough, the speech was in support of a bill that would establish a joint AI research center run by the US and Israel. The speech was written using ChatGPT, and is as dull and…

Web3 and the metaverse were handed a seat at the table of the World Economic Forum in 2023 as the ecosystem continues to drive innovation across industries. As Cointelegraph continues to explore, the presence of the cryptocurrency and blockchain ecosystem was mainly found outside the walls of the WEF. Blockchain Hub Davos and GBBC’s Blockchain Central were two central events in town that brought together the wider crypto community that has been somewhat left out of the WEF’s discourse on the sector. The metaverse is a notable exception to this trend. Although some metaverse applications do not operate on decentralized…

India bond traders pricing in a rate cut this year may be disappointed, with local growth good and the US unlikely to go through a recession, according to a top official at Bank of America Corp. “In the last quarter, the swaps market is pricing a cut in India, which I find very hard to believe,” said Jayesh Mehta, India country treasurer at the US bank said in an interview last week. “Our domestic demand is good, backed up by equally good local growth.” While the country’s current account deficit may…

South Africa’s Eskom imposes blackouts, called load-shedding, when supply fails to meet demand Johannesburg: From dairy farms failing to keep milk refrigerated to chickens suffocating en masse due to failing ventilators and undertakers struggling to preserve bodies, South Africa is buckling under its worst power crisis in years. Africa’s most industrialised nation has been hit by crippling blackouts, pushing thousands of consumers to take to the streets in protest this week. Here’s what you need to know about the crisis: Eight levels of misery The state-owned utility Eskom imposes blackouts, called load-shedding, when supply fails to meet demand. There are…

Private equity and venture capital (PE/VC) investments were down 29 per cent year-on-year (YoY) in 2022, to $54.2 billion across 1,211 deals, including 129 large ones (worth over $100 million, totalling $36.7 billion). This compares with $75.9 billion in investments across 1,269 deals the previous year, according to the IVCA-EY monthly PE/VC roundup. Despite this decline, 2022 marks the second-best year for PE/VC investments in India to date. “This (decline) was primarily due to a fall in deal sizes as the volume of deals remained fairly flat,” said Vivek Soni, Partner and…

The tragedy of FTX appears to be becoming more personal, as the bankrupt exchange’s legal counsels are now seeking to drag the founder’s family members and grill them about how they established their affluence. In a court filing, FTX attorneys requested that Sam Bankman-Fried’s parents, Joseph Bankman and Barbara Fried, testify under oath and produce financial papers regarding their personal fortune as part of the company’s effort to reclaim funds that may be used to repay creditors. Gabriel, the brother of former FTX CEO Bankman-Fried, will also be questioned in court over any financial benefits he may have gotten from the company.…

On this week’s episode of NFT Steez, hosts Alyssa Exposito and Ray Salmond meet with Web3 content writer Julie Plavnik to discuss the importance of self-sovereignty while building a digital identity in Web3.  Plavnik referenced author Gavin Wood when describing Web3 and said that “communication” is a core tenant in the subsequent iteration of the internet. “Web3 is the communication of encrypted channels between decentralized identities,” Plavnik affirmed. According to Plavnik, the emerging concept of Web3 has placed a magnifying glass over user data and ownership, especially concerning the creator economy, which Plavnik described as a place with “no entry…