logo
Rupee up by one paise against USD

Rupee up by one paise against USD

Mumbai, June 5 (UNI) Rupee on Monday appreciated by one paise to close at 85.62 tracking muted moves in Asian peers, even as the dollar weakened ahead of closely watched trade talks between the U.S. and China, the trader said
At the interbank foreign exchange, the domestic unit opened at 85.61 against the greenback
The partially convertible rupee recorded intra-day high and low at 85.60 and 85.73, respectively, dealers added.
UNI JS BD

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Trying to seek early resolution to China's curbs on rare earth magnets: MEA
Trying to seek early resolution to China's curbs on rare earth magnets: MEA

Business Standard

time4 hours ago

  • Business Standard

Trying to seek early resolution to China's curbs on rare earth magnets: MEA

India's Ministry of External Affairs (MEA) on Thursday said that the government is in touch with the Chinese side to seek an early resolution to Beijing's 4 April export restrictions on rare earth magnets, to ease the shortage of these critical minerals in India. It emphasised the need to bring predictability to supply chains for trade, consistent with international practices. Addressing the MEA's weekly media briefing, its spokesperson Randhir Jaiswal said that the Chinese Ministry of Commerce and General Administration had announced their decision in early April to implement export controls on certain rare-earth-related items. 'We remain in touch with the Chinese side, in Beijing as well as in Delhi, to bring predictability in the supply chain for trade consistent with international practices,' Jaiswal said. China has a near monopoly on the supply of rare earth elements. Sources here pointed out that, for China, the export of these critical minerals — used in the manufacture of cars and drones — is central to its trade negotiations with the United States, and India has suffered collateral damage in these negotiations. Sun is also slated to land in India for a two-day visit starting Friday. His visit to New Delhi comes six months after Foreign Secretary Vikram Misri visited Beijing, which helped resume the suspended bilateral exchanges between the two Asian neighbours. In Beijing, in response to a question on whether China would lift export restrictions on rare earth metals to India, as it has begun clearing export licences to the US and European Union, Chinese Foreign Ministry spokesperson Lin Jian said on Thursday, 'We are willing to enhance dialogue and cooperation with relevant countries and regions to jointly keep the stability of global industrial and supply chains.' Sun is a former Chinese ambassador to India and arrives as part of the foreign secretary–vice foreign minister mechanism that the two countries agreed upon during Misri's visit to Beijing in January. At the time, the two sides had agreed to resume direct flights, data sharing on transboundary rivers, and the Kailash Mansarovar pilgrimage, all of which were disrupted due to bilateral tensions. On India–Canada relations and Prime Minister Narendra Modi's scheduled visit to Canada to attend the G7 Summit, the MEA said New Delhi believes the forthcoming meeting between the prime ministers of the two countries on the sidelines of the G7 Summit will offer an important opportunity to exchange views and explore pathways to 'reset' bilateral ties.

India's digital businesses are innovating faster with Data + AI, says Databricks founder
India's digital businesses are innovating faster with Data + AI, says Databricks founder

Economic Times

time5 hours ago

  • Economic Times

India's digital businesses are innovating faster with Data + AI, says Databricks founder

Live Events India's digital-native businesses are artificial intelligence (AI)-hungry and ahead of the curve from global peers when it comes to innovation with data and AI , said Ali Ghodsi, founder and chief executive of Databricks 'India's great because when the rest of the world is talking about recession, India is on the upswing. And in the last decade, they've built a lot of digital infrastructure in India, which is a game-changer. India's ahead on digital infrastructure compared to most other countries in the world,' Ghodsi said while addressing the media at the Databricks Data + AI Summit in San Francisco on Silicon Valley's data and AI company Databricks recently committed a $250 million investment in India over the next three years towards local R&D, talent development, and enterprise adoption of AI."We're doubling down on Bangalore. We hired a huge engineering team. We target the IITs," he said, mentioning an instance where the company received 700 applications from IIT graduates for just four open positions in said that the company is extremely bullish on Asian markets, including India, South Korea, Australia and New Zealand, which are moving faster than the rest of the world on AI because of the relaxed regulatory environment.'We're investing ahead of the game there. We're not just looking at how much revenue we get? Is the ROI there? Instead. We're saying, let's put even more there than the numbers justify, because we're so bullish on what's happening in Asia,' he the annual conference on Wednesday, Databricks made a slew of bold announcements challenging traditional players in database management, AI apps and agents. Here's a rundown of key announcements:Taking a fresh approach to agentic AI, Databricks is focusing on the quality and cost of productising agents with 'Agent Bricks', an offering that directly challenges Salesforce's Agent Force and Google's Agent Space.'There are a lot of challenges in the industry around building agents. We can't evaluate the quality of the agents. We don't know how these agents are doing in production,' Ghodsi said, adding that there are no evaluations or benchmarks for judging the performance of Databricks is introducing LLM judges for automated evaluations. Agent Bricks' auto optimisation techniques, such as knowledge extraction and multi-agent supervisor can refine the agent for the best quality output, sometimes at 10 times lower the traditional database platforms like Oracle Database, MySQL, Microsoft SQL Server, and PostgreSQL, Databricks announced Lakebase, a first-of-its-kind fully-managed Postgres database built for AI.'We think that's going to disrupt the existing database market, which has really not changed much in 40 years. But I think now is the time where it's actually under a lot of pressure with agents coming in,' Ghodsi said, adding that the company is targeting a $100 billion total addressable market with last month, announced the acquisition of Neon, a leading serverless Postgres company, which showed that over 30% of the databases at Neon were actually created by agents, not by database administrators. 'So next year, it's probably 99% plus.'Therefore, in the new AI era, enterprises need different types of databases where compute and storage are completely separated, he explained. 'You just store the database on very cheap cloud storage in an open format so you're not locked into anyone (single vendor).'Over 300 Databricks customers are already using Lakebase, and this transition is going to be the most important marathon for the next five years, he close the AI talent gap, Databricks also announced the free edition of its platform, along with a $100 million global investment in data and AI education. This initiative gives students, professionals, and institutions free access to Databricks tools and other notable announcements made was the Lakeflow Designer, a new no-code capability that lets non-technical users create data pipelines using a visual drag-and-drop interface and a natural language GenAI assistant.(The reporter was in San Francisco at the invitation of Databricks)

India's digital businesses are innovating faster with Data + AI, says Databricks founder
India's digital businesses are innovating faster with Data + AI, says Databricks founder

Time of India

time5 hours ago

  • Time of India

India's digital businesses are innovating faster with Data + AI, says Databricks founder

Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads India's digital-native businesses are artificial intelligence (AI)-hungry and ahead of the curve from global peers when it comes to innovation with data and AI , said Ali Ghodsi, founder and chief executive of Databricks 'India's great because when the rest of the world is talking about recession, India is on the upswing. And in the last decade, they've built a lot of digital infrastructure in India, which is a game-changer. India's ahead on digital infrastructure compared to most other countries in the world,' Ghodsi said while addressing the media at the Databricks Data + AI Summit in San Francisco on Silicon Valley's data and AI company Databricks recently committed a $250 million investment in India over the next three years towards local R&D, talent development, and enterprise adoption of AI."We're doubling down on Bangalore. We hired a huge engineering team. We target the IITs," he said, mentioning an instance where the company received 700 applications from IIT graduates for just four open positions in said that the company is extremely bullish on Asian markets, including India, South Korea, Australia and New Zealand, which are moving faster than the rest of the world on AI because of the relaxed regulatory environment.'We're investing ahead of the game there. We're not just looking at how much revenue we get? Is the ROI there? Instead. We're saying, let's put even more there than the numbers justify, because we're so bullish on what's happening in Asia,' he the annual conference on Wednesday, Databricks made a slew of bold announcements challenging traditional players in database management, AI apps and agents. Here's a rundown of key announcements:Taking a fresh approach to agentic AI, Databricks is focusing on the quality and cost of productising agents with 'Agent Bricks', an offering that directly challenges Salesforce's Agent Force and Google's Agent Space.'There are a lot of challenges in the industry around building agents. We can't evaluate the quality of the agents. We don't know how these agents are doing in production,' Ghodsi said, adding that there are no evaluations or benchmarks for judging the performance of Databricks is introducing LLM judges for automated evaluations. Agent Bricks' auto optimisation techniques, such as knowledge extraction and multi-agent supervisor can refine the agent for the best quality output, sometimes at 10 times lower the traditional database platforms like Oracle Database, MySQL, Microsoft SQL Server, and PostgreSQL, Databricks announced Lakebase, a first-of-its-kind fully-managed Postgres database built for AI.'We think that's going to disrupt the existing database market, which has really not changed much in 40 years. But I think now is the time where it's actually under a lot of pressure with agents coming in,' Ghodsi said, adding that the company is targeting a $100 billion total addressable market with last month, announced the acquisition of Neon, a leading serverless Postgres company, which showed that over 30% of the databases at Neon were actually created by agents, not by database administrators. 'So next year, it's probably 99% plus.'Therefore, in the new AI era, enterprises need different types of databases where compute and storage are completely separated, he explained. 'You just store the database on very cheap cloud storage in an open format so you're not locked into anyone (single vendor).'Over 300 Databricks customers are already using Lakebase, and this transition is going to be the most important marathon for the next five years, he close the AI talent gap, Databricks also announced the free edition of its platform, along with a $100 million global investment in data and AI education. This initiative gives students, professionals, and institutions free access to Databricks tools and other notable announcements made was the Lakeflow Designer, a new no-code capability that lets non-technical users create data pipelines using a visual drag-and-drop interface and a natural language GenAI assistant.(The reporter was in San Francisco at the invitation of Databricks)

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store