After Moon And Sun Missions, Here's What ISRO Plans To Launch Next
India's first dedicated polarimetry mission, XPoSat (X-ray Polarimeter Satellite), aims to study bright astronomical X-ray sources in extreme conditions. Its primary payload, POLIX (Polarimeter Instrument in X-rays), will measure polarization parameters in the medium X-ray energy range of 8-30 keV photons. Additionally, the XSPECT (X-ray Spectroscopy and Timing) payload will provide spectroscopic information in the energy range of 0.8-15 keV. ISRO has announced that XPoSat is ready for launch, and it aims to better understand the complex emission mechanisms of astronomical sources like black holes, neutron stars, active galactic nuclei, and pulsar wind nebulae.
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IKEA's new Strategies for expansion
Ikea is planning a significant expansion in the Indian market. The CEO, Susanne Pulverer, has outlined their second phase of expansion, which includes:
1. Starting online operations in Delhi-NCR by the end of 2024.
2. Opening physical stores in new locations like Pune and Chennai.
3. A total investment of Rs 10,500 crore for more brick-and-mortar locations.
4. Increasing the employee count from 3,000 to 10,000 in the coming years.
Ikea has been sourcing from India for 40 years and currently works with 65 suppliers in the country. Their first flagship store in India opened in Hyderabad in August 2018.
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REA India Reports 46% Revenue Growth in Fiscal Year with Housing.com Leading the Way
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REA India, the parent company of Housing.com and PropTiger, reported a 46% increase in revenue to over Rs 430 crore in the last fiscal year. CEO Dhruv Agarwala attributes this success to investments in improving the online user experience, with Housing.com serving over 20 million users per month. The company has expanded its services to tier-2 cities. REA Group acquired a controlling stake in Elara Technologies in December 2020, rebranding it as REA India, and also operates PropTiger and Makaan.com, showing confidence in India's long-term housing market growth.
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Indian Railway Increases Budget for Passenger Safety Amidst Safety Concerns
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The Indian Railway has faced safety concerns following a deadly rail crash in June, prompting increased focus on passenger safety. They allocated 54% more budget in the last five months compared to the previous year for safety improvements. However, overcrowding remains a top concern for passengers, suggesting that addressing passenger habits is essential alongside increased investment. The railway also invested in additional projects and earned around Rs 1 lakh crore in revenue during the last five months, with growth in container services and petroleum, oil, and lubricant product loading.
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India Increases Coal Imports to Meet Surging Electricity Demand During Dry Summer
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India has issued a mandate for local power plants to increase coal imports due to surging electricity demand during an exceptionally dry summer. Dry weather has a significant impact on India's electric grid for several reasons:
1. Farm Irrigation: Farmers rely on electric irrigation pumps during dry seasons, as agriculture is a major industry in India, increasing the grid's sensitivity to agricultural power usage.
2. Power plants are required to increase coal imports by 4% until March 2024 to prevent power outages, with the mandate extended after an initial one-month period.
3. Peak Demand: India has experienced record-breaking electricity demand, partly due to increased use of cooling appliances like air conditioners in households.
4. Coal Stockpile: Power stations had lower coal reserves than usual, with around 11 days' worth of inventories instead of the typical 14 days.
These factors highlight the strain on India's electric grid during dry weather and increased demand.
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Arm Holdings Plans IPO Valuing the Company at Up to $54 Billion
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Arm Holdings Ltd, a SoftBank Group subsidiary, plans to price its shares at $47 to $51 before its upcoming initial public offering (IPO), potentially valuing the company at $50 billion to $54 billion, making it the most valuable listing in New York since Rivian Automotive in 2021.
Key Points:
1. Arm's semiconductor designs are used by over 260 tech manufacturers globally, with over 30 billion semiconductor chips based on Arm's designs.
2. The IPO has the potential to help SoftBank's Masayoshi Son recover from a $30 billion loss incurred by his Vision Fund in the previous year, as SoftBank acquired stakes in Arm Holdings.
3. This IPO could provide a boost to the struggling IPO market, which saw a 36% YoY decrease in fundraising in 2023.
Arm's IPO holds significance not only for the company but also for SoftBank and the broader IPO landscape.
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