Re rises 21 paise to close at 85.73 against $
MUMBAI: Rupee rose 21 paise to close at 85.73 against dollar on Tuesday on back of a decline in global crude prices and a weaker greenback against major rivals. Easing of foreign fund outflow and firm domestic equity markets further boosted the rupee, according to forex traders.
"Rupee was range bound with chances of US-India (pact) being concluded today (Tuesday), keeping rupee on an upward trend. Closing was slightly higher but a conclusive mini-trade deal could allow rupee to gain again to 85.40 level," Anil Kumar Bhansali, head of treasury and ED, Finrex Treasury, said.
Stay informed with the latest
business
news, updates on
bank holidays
and
public holidays
.
AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
40 minutes ago
- Business Standard
Illinois Tech's Mumbai campus aims for 300-student inaugural batch in 2026
US-based Illinois Institute of Technology (Illinois Tech) is beginning preparations for opening its Mumbai campus in fall next year with an initial intake of around 300 students, Raj Echambadi, president, Illinois Tech, told Business Standard in a video interview. 'The institute is expecting to begin site exploration, and recruitment of faculty and staff in the next two-to-three months, so that active recruitment of students can start for an intake in the next fall,' Echambadi added. Likening its upcoming Mumbai campus to a node in Illinois Tech's overall network, he said that many American students will get opportunities to study in India for a semester or a year, whereas many Indian students can go to the Chicago campus in exchange programmes. Key challenges for the institute could be the US administration's recent rules mandating social media vetting for student visa appointments, and President Donald Trump's recent run-ins with educational institutions. Calling it a short-term speed bump, Echambadi said there are not going to be many impediments, even for Indian students who come and study in the Chicago campus. Almost 20 per cent of the students in Illinois Tech's undergraduate (UG) and graduate programs are foreign students, of which close to 5-8 per cent are from India. 'There is anxiety among students and parents due to word of mouth. While I think there is going to be a very short-term dip in terms of student interest, there is no certainty that it is going to have a major impact in the long term,' he added. While at the Mumbai campus the institute will offer both UG and graduate degrees, most of its courses will focus on science, technology, engineering, and mathematics (STEM). Addressing concerns over fees, the institute said that while its tuition rates are still being finalised, they are looking at a cost range that would be very reasonable for the Indian market. 'Comparing it to the US cost, you are talking about one-third or a little over one-third of the cost that the students would pay at our India campus,' he said. Estimated tuition rates for an UG student at Illinois Tech is $51,648, according to the institution's website. Other additions such as housing, food, books, and transportation can inflate that bill to an estimated range of $64,894-77,624, depending on whether the student is living on or off campus. Echambadi added that the institute is working with its alumni network, and government scholarships to make affordability one of the key factors. 'Owing to the size of our Indian alumni, and because of the CSR (corporate social responsibility) rules in India, we are committed to fundraising in India in order to ensure that no qualified student in the country is ever turned away because of lack of access to resources,' he said. Illinois Tech's entry into India comes two years after the University Grants Commission (UGC) released rules facilitating the entry of foreign higher education institutions (HEIs) into the country as part of the National Education Policy (NEP) 2020 reforms. Under these regulations, foreign institutions seeking to establish campuses in India must rank within the top 500 globally — either overall or in specific subject areas — and demonstrate outstanding expertise in their fields, subject to UGC approval. While around 10-12 foreign HEIs, mostly British and Australian, have got letters of intent (LoIs) from the Union education ministry, Illinois Tech is currently the only American university to announce a campus in India. Speaking on the traction within US HEIs, Echambadi said that there is a lot of interest from American universities to come to India. 'We have had many calls from American universities asking us about the process we followed,' he added.
India Today
an hour ago
- India Today
Musk's AI chatbot Grok sparks outrage with antisemitic posts, X removes content
Elon Musk's AI chatbot Grok sparked outrage after its X account posted messages with antisemitic content and positive references to Adolf Hitler. The posts were later removed following complaints from users and the Anti-Defamation post from Grok said Hitler would be the best person to handle "anti-white hatred" and called him "history's mustache man." Another post claimed people with Jewish last names were responsible for extreme anti-white activism. These comments caused outrage among many users and human rights ADL, a well-known organisation that fights antisemitism, responded strongly. "What we are seeing from Grok LLM right now is irresponsible, dangerous and antisemitic, plain and simple," the group said. "This supercharging of extremist rhetoric will only amplify and encourage the antisemitism that is already surging on X and many other platforms." In response, a message from Grok's account on X said, "We are aware of recent posts made by Grok and are actively working to remove the inappropriate posts." The message also said, "xAI has taken action to ban hate speech before Grok posts on X. xAI is training only truth-seeking, and thanks to the millions of users on X, we are able to quickly identify and update the model where training could be improved."TROUBLES GROW FOR X AND ELON MUSK'S AI PROJECTThis is not the only separate incident where Grok made controversial statements. In May, users noticed that Grok mentioned "white genocide" in South Africa, even in conversations where it wasn't relevant. At the time, xAI said the problem happened due to an unauthorized change in the again came under fire when it interacted with a fake X account that had a Jewish-sounding name. Later, Grok's account explained the chatbot made a "slip-up" and claimed the fake account was part of a "troll hoax to fuel division."CNN discovered that Grok cited 4chan -- a website renowned for its racist and extremist content -- as one of its sources when testing the chatbot. This sparked additional questions about the chatbot's information selection Musk has significantly reduced the platform's content moderation since purchasing X in 2022. Many people think that this has caused hateful and extremist content to increase. For this reason, a number of advertisers have withdrawn from the has been addressing the issue with AI training data. Last month, he said the company would upgrade Grok's model, admitting there was "far too much garbage in any foundation model trained on uncorrected data."The controversy came just before another major change — on Wednesday, X's CEO Linda Yaccarino stepped down.- EndsWith inputs from Agencies Tune InMust Watch
Time of India
an hour ago
- Time of India
What Pakistan government said on Microsoft closing operations in the country: Full Statement
Microsoft recently completely shut down its operations in Pakistan. Microsoft had set up its operations in Pakistan in June 2000. Shutting down of Microsoft Pakistan after 25 years 'marked end of an era' as the company's first country head Jawwad Rehman said in a post on LinkedIn. 'This is more than a corporate exit. It's a sobering signal of the environment our country has created … one where even global giants like Microsoft find it unsustainable to stay. It also reflects on what was done (or not done) with the strong foundation we left behind by the subsequent team and regional management of Microsoft,' Rehman wrote in the post. The Redmond-based too has confirmed closing down its office in Pakistan. 'Our customer agreements and service will not be affected by this change,' a Microsoft spokesperson said in a statement to TechCrunch. 'We follow this model successfully in a number of other countries around the world. Our customers remain our top priority and can expect the same high level of service going forward,' the spokesperson added. The Pakistan government issued a statement on Microsoft closing operations in the country. The release titled, 'Microsoft's Operational Restructuring: Ensure Continued Commitment to Pakistan', termed Microsoft's decision part of a wider global restructuring. Here's is the full statement. 'Microsoft's Operational Restructuring: Ensure Continued Commitment to Pakistan' The global pivot from on-premise software (transactional deals) to Software-as-a-Service (SaaS) (recurring revenue) continues to reshape how technology firms structure their international operations. Microsoft is no exception. Over the past few years the company has shifted licensing and commercial-contract management for Pakistan to its European hub in Ireland, while day-to-day service delivery here has been handled entirely by its certified local partners. Against that backdrop, we understand Microsoft is now reviewing the future of its liaison office in Pakistan as part of a wider workforce-optimisation programme. This would reflect a long-signalled strategy, consolidating direct headcount and moving toward a partner-led, cloud-based delivery model, rather than a retreat from the Pakistani market. Pakistan's Ministry of IT & Telecom recognises the strategic value of having leading global technology providers active in the country. We will continue to engage Microsoft's regional and global leadership to ensure that any structural changes strengthen, rather than diminish, Microsoft's long term commitment to Pakistani customers, developers and channel partners. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
