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- Bit by Bit 8th November || Tesla's former India policy chief joins Ather Energy || Automation in Agrifood Systems & More
Bit by Bit 8th November || Tesla's former India policy chief joins Ather Energy || Automation in Agrifood Systems & More
Good Afternoon! “You can write the best column in the world on Monday, and it does you absolutely no good on Tuesday.” ― Lewis Grizzard
Anyways, here are:
"5 amazing stories in 5 minutes to make you future ready"
Happy reading!
MARKET UPDATE
NIFTY 50 : ₹18,202.80 (+0.47%)
BSE SENSEX : ₹61,185.15 (+0.39%)
NIFTY BANK : ₹41,686.70 (+1.04%)
USD/INR : ₹81.89 (-0.08%)
BRENTOIL : $98.39 (-0.18%)
MCXGOLD : ₹50,925 (+0.12%)
FII Net Cashflow : + ₹1948 crores
DII Net Cashflow : - ₹844 crores
(Markets data as of 11:00 PM on 7/11/2022)
ECONOMY
Key Facts
With 8,133 tonnes, or 26% of the total gold holdings, the United States of America (US) tops the list of gold holders ·
Central banks were net sellers of gold from 2002 to 2008 and have been net buyers since 2008
RBI stands 10th in the overall gold holdings and 4th in terms of buying in 2009-22
The Story
The World Gold Council (WGC) estimates that central banks have 31,422 tonnes of gold totaling $1,688 billion. These gold holdings have changed over the past 20 years, according to WGC data. We can observe that, after being net sellers from 2002 to 2008, central banks are now net buyers. In 2022 (from January to November), central banks did purchase 307.9 tonnes of gold, but this has been a continuous trend for almost 15 years.
Since 2008, the global economies and financial markets have been impacted by multiple crises. It started with the 2008 global financial crisis, 2010 Euro area crisis, COVID-19 pandemic and now the 2022 Russia-Ukraine war. This has led to concerns within the central banks, leading to increased buying of gold.
The central banks, who serve as the watchdogs of financial and economic stability, are investing more in gold. Ironically, central bankers frequently advise the public to invest in financial assets rather than gold because doing so increases the amount of money in circulation. Authoritarian countries such as China, Russia are investing in gold to counter the hegemony of the US and Western Europe whereas countries such as India are buying gold to protect themselves against crises.
AUTOMOTIVE
Key Facts
Manuj Khurana will start next week at the firm based in the southern technology hub of Bangalore.
Khurana will join as a vice president, though his specific role there is unclear.
The Story
Tesla Inc.’s former India policy chief is joining homegrown electric scooter startup Ather Energy Pvt, one of the best-funded fledgling firms in a sector attracting record investment.
Manuj Khurana, who quit his post as Tesla’s local head of policy and business development in June, will start next week at the firm based in the southern technology hub of Bangalore, a person with knowledge of the matter told Bloomberg News. Khurana will join as a vice president, though his specific role there is unclear, the person said, declining to be named as the matter is not public.
FMCG
The Story
The report was released by the Food and Agriculture Organization (FAO) of the United Nations.it looked at how automation in our agrifood systems can contribute to achieving sustainable development goals.
Benefits of Agriculture Automation (AA)
Increase labour productivity and profitability in agriculture.
Improve working conditions and income for agricultural workers.
Generate new entrepreneurship opportunities in rural areas.
Reduce food losses and improve product quality and safety.
Challenges
Inaccessibility of automation deepens inequalities thereby affecting small-scale producers and marginalized groups such as youth and women.
Certain technologies – large motorized machinery – can also have negative environmental impacts due to monoculture and soil erosion.
It can lead to unemployment where rural labour is abundant and wages are low agricultural automation.
Wide disparities in adoption of automation between and within countries, with adoption being particularly limited in most of sub-Saharan Africa.
Recommendation
In labour-abundant contexts, policymakers should avoid subsidizing automation, but rather focus on creating an enabling environment for its adoption.
Social protection should be provided to the least skilled workers, who are more likely to lose their jobs during the transition.
TECH
Key Facts
At the bottom of the Lava Blaze 5G is a 3.5mm audio jack.
It has a 6.51-inch HD+ IPS (720x1,600) screen with a refresh rate of 90 Hz.
On the rear of the Lava Blaze 5G is a 50-megapixel main camera.
The Story
Lava has introduced a new 5G-capable smartphone for the general public in India. The recently released Lava Blaze 5G is one of the least expensive 5G gadgets in the nation, costing just Rs 9,999.. The Lava Blaze 5G's 4GB of RAM, 128GB of storage, and 6.51-inch HD+ display are among its standout features. Ashwini Vaishnav, the minister of communications, electronics, and information technology, unveiled the Lava Blaze 5G for the first time in October at the India Mobile Congress 2022 (IMC). Lava claims that the Lava Blaze 5G has a starting price of Rs 9,999 for the only model with 4GB RAM and 128GB storage, while the MRP is yet unknown.. The Lava Blaze 5G's precise release date is still pending announcement.
However, one of the camera sensors is housed inside a square cutout, giving its back camera module a significantly different appearance. On the back of the Lava Blaze 5G, there is a 50-megapixel primary camera and two additional sensors. An 8-megapixel camera sensor for selfies is located on the front. .The Lava Blaze 5G also has a 5000mAh battery, USB-C OTG support, and 5G, among other important features. 8 5G bands, including the n77 and n78 bands, are supported by the Blaze 5G.
Want a BIT More?
Key Facts
A growing issue that experts refer to as the biggest challenge facing the planet is about to be discussed by more than 100 international leaders.
Leaders of countries that have been adversely affected by the world's ravaging climate change will predominate at COP27.
Numerous leaders from the host continent of Africa are participating.
The Story
The majority of the leaders will meet on Monday and Tuesday, which coincides with the United States' potentially consequential midterm elections. A few days later, the 20 richest countries' presidents would meet in Bali, Indonesia, for their exclusive club meeting.
Bhupendra Yadav, India's Minister for Environment, Forests, and Climate Change is attending the international climate summit. India has applauded the COP27's decision to accept the agenda item Loss and Damage, which depicts wealthy nations providing financial aid to impoverished countries to help them deal with the effects of global warming for which they hold little responsibility.
