🚅 AI Metro

Good morning.

The Emmys 2024 nominee list was revealed yesterday, with Shogun and The Bear leading the nominations.

If you're looking for entertainment, browse the list of noms for inspiration. Also, if you haven’t watched The Bear yet, what are you doing? 🐻🧑‍🍳

- Ruchirr Sharma & Shatakshi Sharmaa

TABLE OF CONTENTS

• 🚅 AI Metro

• 📜 Karnataka's controversial job reservation bill

• 🗞️ Bite-sized summaries

  • 🛍️ Y’all shop too much, and Amazon loves it

  • 💰️ Taxing India

  • 🏏 SKY’s the limit

• 🧑‍🍳 What else is cookin’?

• 🍿 Entertainment, Entertainment, Entertainment

MARKETS

🇮🇳 India

• No changes since yesterday, as the market was closed on account of Muharram.

🌍️ International

• The U.S. stock market shifted Wednesday, with Nasdaq down 2.8%, S&P 500 down 1.4%, and the Dow up 0.5% due to UnitedHealth. Tech and semiconductor stocks like Meta, Apple, Netflix, Microsoft, and Nvidia fell. Interest rate cut optimism helped small caps and firms with higher financing costs, indicating a broader rally beyond tech.

DELHI METRO

🚅AI Metro

The Delhi Metro Rail Corporation (DMRC) is looking to revolutionise its operations by integrating artificial intelligence in its Phase-4 project.

Their goal? To enhance crowd management and train maintenance, boosting overall efficiency.

Here’s the TL;DR: 

1. Flexible train compositions: Phase-4 will feature variable train compositions (3 to 6 coaches) to match real-time passenger demand, ensuring operational efficiency and cost-effectiveness.

2. AI-powered decision-making: DMRC plans to implement AI for predictive maintenance, optimising schedules, and minimising disruptions.

3. Advanced crowd control: Upcoming technologies include CCTV monitoring and facial recognition for improved crowd management.

4. Driverless operations: 312 new coaches compatible with driverless technology will be procured for Phase-4, expanding on the success of existing Magenta and Pink lines.

DMRC Managing Director Vikas Kumar emphasised the organisation's commitment to adopting innovative technologies, citing driverless metro trains as a prime example of disruptive advancement in the sector.

Overall: While acknowledging temporary losses during the COVID-19 pandemic, Kumar assured that DMRC remains operationally profitable through various revenue streams, including ticketing and non-fare box sources.

As DMRC continues to evolve, the focus remains on enhancing operational efficiency, passenger experience, and financial sustainability in Delhi's expanding metro network.

Read more: Financial Express

STATE POLITICS

📜Karnataka's controversial job reservation bill

Karnataka's Congress government recently approved a bill mandating job reservations for Kannadigas in the private sector, sparking criticism from prominent industry leaders.

The bill proposed 50% reservation for locals in management jobs, 75% in non-management roles, and 100% in "C&D" grade government jobs.

Here’s the tea:

1. Industry reaction: Leaders like Kiran Mazumdar-Shaw and Mohandas Pai called the move discriminatory and potentially harmful to Bengaluru's status as a tech hub.

2. Constitutional concerns: Pai argued that the bill is against India's Constitution and should be "junked."

3. Implementation worries: The proposal to have government officers monitor private companies' recruitment raised alarm among business leaders.

4. Government's stance: CM Siddaramaiah initially defended the bill, stating it prioritised the welfare of Kannadigas.

5. Temporary pause: Following backlash, the CM announced that the bill has been put on hold for review.

6. Clarification attempt: Labour Minister Santosh S explained that the bill aims to give preference to locally available skills, with flexibility for outsourcing if needed.

Overall: This entire situation highlights the need for a delicate balance between promoting local employment and maintaining a competitive business environment.

As the government reviews the bill, stakeholders await a resolution that addresses both economic growth and local interests.

Read more: Economic Times

GENERAL OVERVIEW

🗞️ Bite-sized summaries

🛍️Y’all shop too much, and Amazon loves it - Amazon's Prime Day 2024 is expected to hit $14B in sales, a 10.5% increase from 2023, according to Adobe Analytics. The event on July 16-17 has turned July into a major shopping season, especially for back-to-school items. Competitors like Walmart and Target are also offering discounts to capture part of the $38.8B back-to-school market. Despite inflation, shoppers are more willing to spend during Prime Day. Adobe predicts significant discounts, with electronics seeing the highest markdown at 22%.

💰️Taxing India - The EU's Carbon Border Adjustment Mechanism (CBAM) is set to impose a 25% tax on Indian energy-intensive goods, potentially affecting 0.05% of India's GDP, according to the Centre for Science and Environment (CSE). The tax targets iron, steel, cement, fertilizers, and aluminium, which in 2022-23 made up 9.91% of India's exports to the EU. These exports represent one-fourth of India's global exports in these sectors but only 1.64% of total exports. The EU argues CBAM levels the playing field and cuts emissions, but India worries about its economic impact and possible UN climate rule violations.

🏏SKY’s the limit - The BCCI is poised to usher in a new era of T20I leadership by appointing Suryakumar Yadav as captain, succeeding the recently retired Rohit Sharma. This decision comes in the wake of India's T20 World Cup triumph, which saw the departures of veterans Rohit, Virat Kohli, and Ravindra Jadeja from the format. Despite vice-captain Hardik Pandya's experience, concerns over his fitness led newly appointed coach Gautam Gambhir and chief selector Ajit Agarkar to favour Suryakumar for the role. Suryakumar's recent captaincy stints and consistent presence in the team made him the preferred choice.

HEADLINES

🧑‍🍳 What else is cookin’?

What’s happening in India (and around the world 🌍️)

• Unicorn India Ventures announces partial exit from medtech startup Sascan with 6X returns.

• Anthropic launches $100M AI fund with Menlo Ventures, ramping up competition with OpenAI.

• South India's first double-decker rail/road flyover opens for trial run today.

• Gram Unnati partners with Coco-Cola India for a project to boost mango yields in Karnataka.

• Fidelity-backed Colt DCS to invest ₹8,500 Cr. in Navi Mumbai hyperscale data centre.

CULTURE

🍿 Entertainment, Entertainment, Entertainment

• Emmys 2024 nominee list revealed: Shogun leads the list with 25 noms, followed by The Bear, Only Murders in the Building, True Detective: NIgh Country and The Crown.

• Adele plans to take an extended break from music after her current run of concerts.

• Housefull 5: Sanjay Dutt joins Akshay Kumar, Abhishek Bachchan, and Riteish Deshmukh's laugh riot.

• Phir Aayi Hasseen Dillruba starring Taapsee Pannu, Vikrant Massey And Sunny Kaushal reveal new posters.

• Modric signs a one-year extension with Real Madrid.