🛢️ Russian oil

Good morning. It’s a great day to be alive, go after it 💪 

- Ruchirr Sharma & Shatakshi Sharmaa  

TABLE OF CONTENTS

• 🛢️ Russian oil

• 🪰 Adobe’s new AI video tool

• 🗞️ Bite-sized summaries

  • 💻️ Practically useful quantum computers

  • 🇮🇳 India’s trade ties with the use

• 🧑‍🍳 What else is cookin’?

• 🍿 Entertainment, Entertainment, Entertainment

MARKETS

🇮🇳 India

• Indian stock markets closed mixed with Nifty 50 and BSE Sensex declining for the sixth consecutive session. Investor sentiment remained cautious due to global trade war concerns and upcoming US inflation data. Most sectors ended in red, with realty down nearly 3%, while PSU Bank and metal were the only gainers.

🇮🇳 International

• U.S. stocks closed mixed following higher-than-expected January inflation data. Rising Treasury yields and inflation concerns dampened hopes for further Federal Reserve rate cuts this year, while oil prices eased amid geopolitical developments

COMMODITIES

🛢️ Russian oil

Since the onset of the Ukraine conflict, Indian refiners have significantly increased their imports of Russian oil, driven by the steep discounts offered on Russian crude. As a result, Russian oil now accounts for about a third of India’s total oil imports, making it a vital source for the country’s energy needs.

As global energy markets face disruptions, India is needing to adopt strategic measures to create a sanctions-proof oil supply chain:

Building alternative networks

To circumvent U.S. sanctions targeting Russian oil, India is forging alternative networks with suppliers, ship owners, and insurers not aligned with Western sanctions. This network ensures that oil deliveries can continue without interruption, even as more companies face blacklisting due to their connections with Russia.

Utilising Indian refiners

Major Indian refiners like Indian Oil Corp (IOC) and Reliance Industries are at the forefront of this strategy. These companies are collaborating with global traders and partners to build flexible supply chains that can adapt to the ever-changing geopolitical landscape.

Strategic partnerships

Indian refiners have established partnerships with traders and other entities operating outside the scope of Western regulatory oversight. These alliances allow them to secure shipments of Russian crude without relying on Western shipping and insurance providers, many of whom have distanced themselves from Russian oil due to sanctions.

Ties with Russia

Despite international pressure, India has continued to engage in Russian oil imports. The country’s strong economic ties with Russia and its need for affordable crude oil are central to these ongoing efforts, enabling India to weather sanctions and maintain energy security.

Overall: Through these strategic efforts, India is positioning itself to safeguard its energy supply while navigating the complexities of international sanctions and geopolitical tensions. By building a robust, sanctions-resistant oil supply chain, India aims to ensure its energy security and maintain stability in a turbulent global market.

Read more: Economic Times

TECH

🪰 Adobe’s new AI video tool

Adobe has launched its AI-powered video tool, Firefly Video Model, marking a significant entry into the AI video generation market. This launch positions Adobe to compete with existing services from companies like OpenAI and Meta, while offering unique features tailored for professional film and TV production environments.

Key Features and pricing

The Firefly Video Model is designed to integrate seamlessly with Adobe's flagship video editing software, Premiere Pro. It generates five-second clips at 1080p resolution, which is suitable for most video productions that typically require short clips. Adobe offers two main subscription tiers:

1. Firefly Standard: $9.99/month, allowing up to 20 five-second 1080p video generations.

2. Firefly Pro: $29.99/month, providing up to 70 five-second 1080p video generations.

These pricing options are competitive when compared to OpenAI's offering, which provides lower resolution videos at $20 per month for 50 clips and $200 for longer, higher-resolution videos.

Unique approach and target audience

Unlike its rivals, Adobe's model focuses on generating clips to enhance or correct shots from real production sets, addressing issues like imperfect footage. This approach is specifically tailored for professionals in the media industry, offering tools that align closely with how professionals use Premiere Pro.

Also, Adobe emphasises that Firefly is the only "IP-friendly and commercially safe" generative AI model currently available, addressing potential copyright concerns that plague other AI platforms.

The Firefly Video Model offers several innovative features:

1. Generate video: Users can create video clips from text prompts or images.

2. Expanded creative controls: Fine-tuning of video details, including camera angles and motion.

3. Scene to image: Generates professional-quality images from 3D sketches.

4. Translate audio and video: Offers subtitle translations in over 20 languages while maintaining natural voice characteristics.

Future developments

Adobe has announced plans for a Firefly Premium plan, aimed at professionals who need to generate video content regularly. Additionally, a 4K resolution option is in development and "coming soon", which will further enhance the tool's capabilities for high-end production needs.

High level: This launch sets Adobe on a competitive path with other major players in AI video generation, offering affordable, specialised solutions for the video editing industry while leveraging its established position in the creative software market.

Read more: Economic Times

GENERAL OVERVIEW

🗞️ Bite-sized summaries

💻️ Practically useful quantum computers - Google CEO Sundar Pichai predicts that "practically useful" quantum computers will emerge within 5 to 10 years, likening their development to AI's progress in the 2010s. Speaking at the World Governments Summit, he highlighted a breakthrough where Google researchers solved a problem in five minutes that would take supercomputers far longer. Governments and corporations heavily invest in quantum computing to revolutionize data processing, complex modelling, and encryption. However, opinions vary on its timeline, with Nvidia's CEO suggesting practical applications remain decades away. Pichai remains optimistic, calling quantum computing’s progress “palpably exciting.”

🇮🇳 India’s trade ties with the use - India's electronics industry is pushing for stronger trade ties with the US, targeting $750 billion in bilateral trade by 2032, including $100 billion in electronics. Ahead of PM Modi’s meeting with President Trump, industry leaders highlight opportunities from India’s Production Linked Incentive (PLI) scheme and seek favourable trade concessions, technology partnerships, and increased US imports. With India shifting away from Chinese supply chains, it aims to expand semiconductor imports while boosting electronics exports. The industry emphasizes India as a viable alternative to China, reducing US reliance on indirect Chinese supply routes through Vietnam, Taiwan, and Mexico.

HEADLINES

🧑‍🍳 What else is cookin’?

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

• Microsoft, Google, Airtel & other tech titans form a coalition to curb cyber frauds.

• Quick commerce now 7-8% of Honasa Consumer's business: CEO Varun Alagh.

• Temasek’s Vertex Ventures to lead $50-60 million funding in SpotDraft.

• The strategic evolution of Global Capability Centres.

CULTURE

🍿 Entertainment, Entertainment, Entertainment

• Aashram season 3 part 2 teaser: Bobby Deol all set to rule again as Baba Nirala.

• Two cases filed against YouTuber Ranveer Allahbadia for obscene family comments on India’s Got Lalent. 

• Shubman Gill shines as India crush England to complete 3-0 series sweep.