Builder.ai—the London-headquartered “no-code, AI-powered” app-building platform once valued at US $1.5 billion—has entered insolvency proceedings barely two years after sealing a high-profile strategic deal with Microsoft. The abrupt filing, confirmed in a U.S. bankruptcy court this week, follows creditor Viola Credit’s decision to seize US $37 million from the company’s bank accounts, a move that…
India is emerging as a key global manufacturing and export hub for Chinese smartphone and electronics companies, marking a major shift in global supply chains. Brands like Oppo, Realme, Lenovo, and Motorola have begun exporting smartphones and electronic devices from their Indian manufacturing bases to regions including West Asia, Africa, and even the United States….
BlackRock Inc., the world’s largest asset manager, reached a historic milestone by closing 2024 with $11.6 trillion in assets under management (AUM), marking a significant increase from $10 trillion at the end of 2023. This growth was propelled by robust market performance and substantial investor inflows, particularly into exchange-traded funds (ETFs) and fixed-income products. Unprecedented…
In a significant move reflecting its evolving global manufacturing strategy, Apple exported approximately 11.5 million iPhones from India to the United States between January and April 2025. This surge underscores Apple’s efforts to diversify its production base beyond China, amid escalating geopolitical tensions and trade challenges.India Briefing According to data from market research firm Canalys,…
In a significant development impacting global tech manufacturing, U.S. President Donald Trump has proposed a 25% tariff on imported iPhones not assembled within the United States. This move aims to incentivize companies like Apple to shift production domestically. However, a recent analysis by the Global Trade Research Initiative (GTRI) suggests that iPhones manufactured in India…
Cognizant Technology Solutions has officially inaugurated its state-of-the-art TechFin Centre at Gujarat International Finance Tec-City (GIFT City) in Gandhinagar. The 60,000-square-foot facility, located in the Pragya II tower, currently employs 600 associates and plans to expand its workforce to 2,000 over the next three years. The centre is poised to serve as a strategic hub…
In a major step toward strengthening its energy security and reducing reliance on foreign shipping, India has announced a $10 billion plan to build 112 domestically manufactured crude oil tankers by 2040. This ambitious initiative falls under the government’s broader ‘Make in India’ campaign, aimed at promoting local manufacturing and self-reliance in critical sectors. The…
The State Bank of India (SBI), the nation’s largest public sector lender, has reported a historic net profit of ₹70,901 crore for the financial year ending March 31, 2025. This marks a 16.08% increase over the previous fiscal’s ₹61,077 crore, establishing the highest-ever annual profit recorded by an Indian bank. ETBFSI.com Operational Excellence and Profitability…
Apple Inc. has agreed to pay $95 million to settle a class-action lawsuit over allegations that its voice assistant, Siri, inadvertently recorded users’ private conversations without their consent. The lawsuit claimed that Apple violated users’ privacy rights by allowing Siri to activate unintentionally and collect sensitive data, which was allegedly used for advertising and product…
In a significant move towards Syria’s economic recovery, Saudi Arabia and Qatar have jointly paid off Syria’s outstanding $15.5 million debt to the World Bank’s International Development Association (IDA). This payment clears the path for Syria to reengage with the World Bank after a 14-year hiatus, enabling access to new loans and technical assistance essential…