Latest news with #Saras
Shafaq News
2 days ago
- Business
- Shafaq News
Iraq's exports $2.7B in oil to Italy in 2024
Shafaq News/ Iraq delivered $2.68B in oil shipments to Italy in 2024, maintaining its role as a key energy supplier to the European market, official trade data showed. The exports included 4.32 million tonnes of crude oil worth $2.44B, in addition to 435,532 tonnes of petroleum-based derivatives, which generated $242.57M. The total reflected a modest 1% growth in value compared to 2020, indicating consistent trade volumes over the past five years. Italy imports Iraqi oil through long-term agreements with energy firms such as Eni and Saras, which refine the crude in southern Europe, the country being one of Iraq's top European clients, alongside rising demand from other EU nations seeking to diversify supply amid geopolitical shifts. Iraq, a founding member of OPEC, continues to depend on oil for over 90% of its government revenue. Despite production cuts under the OPEC+ agreement, Baghdad's fuel oil exports are projected to reach record highs in 2024, with total oil shipments surpassing 1.2 billion barrels globally.
Time of India
30-04-2025
- Business
- Time of India
IIT-BHU signs MoU with US institute to advance AI education in India
Varanasi: In a major step towards realising India's ambition to become a global AI powerhouse, the Indian Institute of Technology (IIT), BHU signed an with the Saras AI Institute , the world's first AI-exclusive 100% online degree-granting higher education institute based in the US. Tired of too many ads? go ad free now The collaboration is a significant stride towards bridging the critical industry-education gap in AI, empowering the next generation of Indian innovators, and reinforcing the nation's Viksit Bharat 2047 vision. Signed by IIT-BHU director Prof Amit Patra and COO and Co-Founder of Saras AI Institute Amit Kataria, the MoU marks a strategic collaboration to deliver a curriculum that emphasises applied learning over theory. Prof Patra said that the institute is committed to preparing students for the technological frontiers that will define India's future. "Our partnership with Saras marks a significant step towards integrating cutting-edge AI education across disciplines, ensuring that every student—regardless of their field—is equipped to contribute meaningfully to India's digital and economic transformation," he said. Anil Singh, Founder and President of Saras, said that the collaboration with IIT-BHU is not just about teaching artificial intelligence; it's about empowering every student—across all disciplines—with the tools to shape India's destiny in the AI era. Chief Student Success Officer of Saras AI Institute, Shailesh Kumar, mentioned that through this MoU, Saras will offer its foundational 8-week course 'Powers of AI', as an open elective for IIT BHU students. Tired of too many ads? go ad free now It is open to all undergraduate students of all disciplines, ensuring that the transformative potential of AI reaches everyone, from engineering to humanities. Furthering its vision, IIT-BHU and Saras will also co-develop the innovative 'AI Evaluator', a cutting-edge AI-powered assessment tool. This will allow real-time student progress tracking, deliver deep learning insights, and simplify evaluations—a crucial enabler for scaling quality education in a rapidly digitalising Bharat. The MoU also lays the foundation for flexible learning pathways for students and establishes a credit exchange programme. This will enable all students across all disciplines to pursue a Minor in AI online, explore Associate Degree opportunities, and earn industry-recognised AI certifications through Saras AI Institute's digital campus. The MoU also includes joint research opportunities, guest lectures, AI hackathons, workshops, and representation at IIT BHU-led academic and industry events.
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Business Standard
30-04-2025
- Business
- Business Standard
IIT-BHU signs MoU with Saras institute to offer foundation course in AI
Indian Institute of Technology (Banaras Hindu University), Varanasi, on Wednesday announced the signing of a memorandum of understanding (MoU) with United States (US)-based artificial intelligence firm Saras AI Institute. Through this MoU, Saras will offer its foundational eight-week AI course as an open elective for IIT-BHU students. 'This offering is not limited to computer science or circuit branches. It is open to all undergraduate students of all disciplines, ensuring that the transformative potential of AI reaches everyone, from engineering to humanities,' IIT-BHU and Saras said in a joint statement. The institutes added that the partnership is aligned with the government's IndiaAI Mission and Viksit Bharat 2047 vision to democratise AI education. The Saras and IIT-BHU collaboration will also work on co-developing an AI-powered assessment tool, 'AI Evaluator'. The tool will allow real-time student progress tracking, deliver deep learning insights, and simplify evaluations. Commenting on the partnership, IIT (BHU) Director Professor Amit Patra said that the institute is committed to preparing its students for the technological frontiers that will define India's future. 'Our partnership with Saras marks a significant step towards integrating cutting-edge AI education across disciplines, ensuring that every student, regardless of their field, is equipped to contribute meaningfully to India's digital and economic transformation,' he added. The MoU will also focus on establishing flexible learning pathways for students with credit exchange programmes. 'This will enable all students across all disciplines to pursue a Minor in AI online, explore associate degree opportunities, and earn industry-recognised AI certifications through Saras AI Institute's digital campus,' the institutes added.
Reuters
17-04-2025
- Business
- Reuters
Commodity traders expected to submit bids for Italy's IP by May, sources say
MILAN/LONDON, April 17 (Reuters) - Global commodity traders including Glencore (GLEN.L), opens new tab and Gunvor are looking at the possibility to buy oil refiner Italiana Petroli (IP) API group, two sources said on Thursday, adding that binding bids for the company are due by the end of May. State Oil Company of Azerbaijan (SOCAR) is also looking at the asset, the two sources and an additional person with knowledge of the deal told Reuters. IP, which is advised by UniCredit on the potential sale, is owned by the Italian family of Brachetti Peretti and has a total refining capacity of around 200,000 barrels per day (bpd). It also holds a network of 4,600 fuel stations. After the Moratti family sold oil refiner Saras to Vitol last year, a potential deal on IP would give international commodity groups an increasing role in the refining sector in Italy, while private investors retreat as volatility on profits margin increases. In addition to Vitol's purchase of Saras, which operates the 300,000 bpd capacity Sarroch refinery on Sardinia, global commodity trader Trafigura is part of the consortium that bought the 320,000 bpd ISAB refinery on Sicily from Russia's Lukoil in 2023. Swiss trading house Petraco also has a stake in Iplom, which operates the circa 40,000 bpd Busalla refinery near Genoa. It fits into a wider picture of major trading houses snapping up assets in Europe from oil majors and independent firms alike, which might otherwise be looking to close or convert to biorefining their conventional refining assets. IP owns Ancona refinery and the SARPOM refinery in Trecate, near Novara, and has a tolling contract for the Alma refinery in Ravenna. Trecate mainly deals with the production of fuels while the other two plants are producing bitumen. Italian media first reported that the owners of IP were considering the sale of the company, but did not provide details on the timeline for the sale process.
Associated Press
04-03-2025
- Business
- Associated Press
Saras Micro Devices Announces Participation in CHIPS National Advanced Packaging Manufacturing Program Initiatives
CHANDLER, Ariz., March 04, 2025 (GLOBE NEWSWIRE) -- Saras Micro Devices (Saras), an emerging leader in cutting-edge system power performance solutions leveraging integrated packaging design, today announced its participation in two significant projects funded by the U.S. Department of Commerce CHIPS National Advanced Packaging Manufacturing Program (NAPMP). Each project was awarded $100 million in government funding. The first initiative is the Substrate-based Heterogeneous Integration Enabling Leadership Demonstration for the USA (SHIELD USA) project, led by Arizona State University (ASU) and Deca Technologies, Inc. The second is the Substrate and Materials Advanced Research and Technology (SMART) Packaging Program, led by Absolics, Inc. Saras will contribute its STILE™ product technology to both projects to enhance device package integration of advanced power delivery solutions for high-performance computing (HPC) and artificial intelligence (AI) applications. 'Saras' STILE technology enhances our substrate efforts,' said Jason Conrad, chief operating officer of ASU's Southwest Advanced Prototyping (SWAP) Hub and site lead for MacroTechnology Works. 'It adds functionality that complements our core development goals, helping to further elevate the capabilities of the advanced packaging solutions we're developing.' Over the past year, Saras has secured seven foundational patents for its capacitor and STILE technologies from the United States Patent Trademark Office. This achievement underscores the company's commitment to innovating critical solutions in power delivery for next-generation AI and HPC devices. 'The power delivery challenges posed by AI require innovative solutions,' said Ron Huemoeller, CEO of Saras. 'Our STILE technology addresses these challenges by enabling in-package power delivery close to the source, improving both efficiency and performance while opening up package real estate for higher levels of chiplet integration. By collaborating on the SHIELD USA and SMART projects, we're able to contribute critical AI power delivery elements and, consequently, significantly advance U.S. semiconductor manufacturing capabilities.' STILE introduces a multi-domain, integrated passive module that embeds directly into the substrate core of device packages. This approach reduces the need for multiple function-specific devices, maximizes packaging real estate by optimizing space, and supports higher levels of chiplet integration—essential for the demands of AI workloads. The technology aligns with the goals of the NAPMP projects and will extend the advanced substrate technology solutions that the SHIELD USA project and SMART Packaging Program are focused on delivering. 'This joint effort exemplifies how integrating complementary innovations can drive advancements in semiconductor packaging and address the performance demands of AI and HPC applications,' stated Craig Bishop, CTO of Deca Technologies. 'SHIELD is truly a collaborative effort, combining Saras' embedded passive technology with Deca's novel interconnects at ASU's research fab to demonstrate leap-ahead organic substrates.' The collaborations under the NAPMP advanced substrate and material projects highlight the importance of innovative power delivery solutions in maintaining U.S. leadership in semiconductor technology. By developing and scaling advanced packaging processes, materials, and equipment, these initiatives aim to create a robust foundation for high-volume semiconductor packaging production in the United States, enhancing national security and economic resilience. About Saras Micro Devices Established in 2021, Saras Micro Devices is revolutionizing the way power is delivered to advanced semiconductor devices. The company is developing custom and standard integrated passive modules that will significantly improve power performance and efficiency, addressing the challenges faced by the high-performance computing devices serving the growing demand for AI, ML, AR/VR, 5G/6G, and more. Instituted by an impressive team of advanced packaging experts with a combined 150+ years of experience in the microelectronics industry, Saras introduces an innovative embedded, 3D-integrated, vertical power delivery solution that enables higher per-watt performance, minimized routing losses, and greater overall efficiency while reducing the power management impact on the package footprint. Saras Micro Devices has simplified a currently complex solution for managing and optimizing power delivery. Uncover and explore further insights at
