New Delhi, May 17 (IANS) Hindustan Petroleum Corporation Ltd. (HPCL) is fueling the Indian startup ecosystem, and has invested Rs 27 crore to empower 28 startups to date, Hardeep Singh Puri, Union Minister for Petroleum and Natural Gas, said on Saturday.HPCL’s ‘Udgam’ initiative has raised Rs 35 crore so far to support startups in the field of clean and green energy.“India’s energy future is being shaped by innovation. HPCL’s ‘Udgam’ initiative is empowering startups working on green hydrogen and ethanol, smart LPG cylinders and emission control, IoT solutions and cashless technologies and waste-to-energy and carbon capture,” Puri posted on X social media platform.“Rs 35 crore fund raised. Rs 27 crore invested. 28 startups supported. HPCL is helping build a clean, self-sufficient energy economy,” the minister further stated.“Thanks to Prime Minister Narendra Modi’s Startup India initiative, which continues to fuel innovation across the country,” he added.Towards this goal, Oil India Limited is also supporting 15 startups related to various fields like design of hydrogen fuel cell-based e-bus and design of wireless robot for oil well inspection and multi-functional oil and gas operations with a startup fund of Rs 50 crore, the Union Minister informed.“By giving them wings, Oil India Limited is helping them to turn their dreams into reality. Opening new doors of jobs,” Puri added in a separate X post.Meanwhile, HPCL reported a standalone net profit of Rs 3,355 crore in for the January-March quarter of financial year 2024-25, which represents an 18 per cent increase over the corresponding figure for the same quarter of 2023-24.The government-owned oil refining and marketing major’s total income during the fourth quarter came in at Rs 1.19 lakh crore. The company plans to increase the capacity of its Vizag oil refinery in southern India by as much as 20 per cent to meet growing local fuel demand.—IANSna/

Seoul, May 17 (IANS) South Korea has discussed ways of enhancing bilateral economic and trade cooperation with the United States, China, Japan and several other partner nations on the sidelines of the Asia-Pacific Economic Cooperation (APEC) meeting amid heightened uncertainties in the global economic and trade landscape, the industry ministry said.The two-day APEC Ministers Responsible for Trade Meeting took place on South Korea’s southern resort island of Jeju from Thursday, providing an opportunity for trade ministers of regional economies to engage in one-on-one discussions, according the Seoul’s Ministry of Trade, Industry and Energy, reports Yonhap news agency.On the sidelines of the meeting, South Korean trade and industry officials held high-level bilateral talks with representatives from 14 of the 20 other APEC member economies, as well as with the director-general of the World Trade Organisation (WTO), to explore avenues for trade cooperation and coordination.”During my meeting with U.S. Trade Representative Jamieson Greer yesterday, I explained the current political situation and other domestic issues ahead of the upcoming presidential election. We also reviewed the procedures necessary to conclude the negotiations,” Trade Minister Cheong In-kyo said during a press briefing.Industry Minister Ahn Duk-geun is scheduled to meet with Greer later in the day, which “is expected to be a chance for the two sides to understand each other’s positions during these two rounds of tariff talks,” he added.Last month, the Donald Trump administration began imposing reciprocal tariffs on partner nations, including 25 percent duties on South Korea, only to pause them shortly afterward to allow for one-on-one negotiations.Seoul and Washington subsequently agreed to work toward a “July package” deal on trade and other related issues before July 8, when Trump’s 90-day pause on reciprocal tariffs is to expire.Cheong met with senior officials from Japan’s economic and foreign ministries on Jeju, where the two countries agreed to enhance cooperation in advanced industries, hydrogen and other new energy sectors, and supply chains, according to the ministry.In a separate meeting with his Indonesian counterpart, Cheong requested active support for South Korean companies operating in the Southeast Asian nation.”The government will make every effort to mitigate uncertainties in the trade environment and external risks by further strengthening the foundation for cooperation with the Asia-Pacific region,” the ministry said in a statement.—IANSna/

Kochi, May 16 (IANS) The ICAR-Central Marine Fisheries Research Institute (CMFRI) will host the fourth International Symposium on Marine Ecosystems: Challenges and Opportunities (MECOS 4) on November 4-6 this year. Organised by the Marine Biological Association of India (MBAI) in association with the CMFRI, the symposium will specially focus on research and collaborative works on climate change amid a series of emerging threats to the marine ecosystems, including rising sea temperatures and extreme weather events.The three-day event will bring together a global community of marine scientists, researchers, policymakers and industry experts to address the mounting challenges facing the marine fisheries and aquaculture.CMFRI Director and MBAI President, Dr Grinson George, said the conference will develop a comprehensive roadmap for sustainable marine fisheries and innovative aquaculture methods, to meet growing seafood demand and to protect the livelihoods of coastal communities who depend on the ocean for their sustenance and income.”The increasing threat to marine ecosystems following global warming demands urgent attention and united actions. Rising sea surface temperatures, ocean acidification, and extreme weather events threaten marine biodiversity and disrupt ecological processes,” he said, adding that MECOS-4 would discuss all these issues, among other critical challenges and opportunities.The discussions would centre around ecosystem and biodiversity conservation, sustainable fisheries and mariculture, climate and environment resilience, and products, value chain, and livelihood.Research on marine mammals and sea birds will also get special attention at the conference.The meet will offer a big platform for emerging marine researchers and students from India to showcase their innovative works, providing them with crucial opportunities for visibility and engagement. Researchers below the age of 35 years have the opportunity to win five Young Marine Biologist Awards for presentation of their research in the event.MECOS 4 has also instituted five memorial awards named in honour of luminaries in marine fisheries research: Dr S. Jones, Dr M. Devaraj, Dr N.R. Menon, Dr R. Reghuprasad and Dr P.S.B.R. James.”It is expected to generate recommendations for policymakers and industry leaders to promote sustainable ocean management and conservation for future generations. The event will also feature a fish, agri, and marine expo where research institutions and industries will exhibit their innovations and products,” Dr George added.–IANSsg/vd

Aizawl, May 16 (IANS) Mizoram Chief Minister Lalduhoma on Friday announced that digital services would be further expanded across all parts of the state for public benefit and smart governance. Addressing the 17th Digital Transformation Conclave in Aizawl, the Chief Minister highlighted the importance of affordable and accessible digital services for the public. He noted that digital governance is not only convenient but also cost-effective for both citizens and the government.”Mizoram’s commitment to this cause has been demonstrated through the launch and implementation of various digital platforms.”The Chief Minister, in his speech, mentioned some key initiatives which included the Mizoram State Public Grievances Redressal & Monitoring System, Kai Apps, RAMP – MSME Facilitation Cell and Portals, the SDG Dashboard for tracking all villages’ Sustainable Development Goals, the MPLAN-Mizoram State Project Monitoring Dashboard, e-RAM for online tax and revenue services, online Inner Line Permit system, and Aizawl Civil Hospital’s online OPD registration.He also hinted at several other upcoming initiatives, like government e-offices and others.Lalduhoma affirmed that the collaboration between Mizoram and the rest of India in the field of digital services would bring continued progress and benefits. He expressed gratitude to all individuals, companies, and senior government officials who took the time to participate in the 17th Digital Transformation Conclave, which was jointly organised by the Department of ICT and several other all-India organisations.Referring to the recent hacking of a Mizoram government website, the Chief Minister assured the public that the site has been swiftly and securely restored. He called for vigilance among all users, especially those managing government sites, and stressed the importance of cybersecurity awareness.Mizoram’s ICT Minister Vanlalthlana, acknowledging the transformative role of Artificial Intelligence in today’s world, emphasised that it is becoming a necessity not only for businesses but also for families concerned about their children’s safety. He called for robust and inclusive internet services and secure data storage through cloud technology to ensure access for all. The Minister reiterated that digital development is a key component of the Viksit Bharat 2047 vision and is crucial for India’s progress, including that of Mizoram.The conclave served as a platform for dialogue and presentations on digital advancements. Both government and private sector experts held discussions and presentations on how digital services can drive development across the state. Chief Secretary Khilli Ram Meena and Director General of Police Anil Shukla, among other officials, also spoke at the event.–IANSsc/vd

Mumbai, May 16 (IANS) FMCG major Emami Limited on Friday reported a 41.9 per cent decline in its net profit to Rs 162.17 crore on a sequential basis for the January-March quarter (Q4) of FY25, compared to Rs 278.98 crore in previous quarter (Q3).The company’s revenue dropped 8.3 per cent during the same period — to Rs 963.05 crore from Rs 1,049.48 crore in Q3 FY25.Total expenses also rose by approximately 4.62 per cent to Rs 743.61 crore in Q4, compared to Rs 710.79 crore from the previous quarter.However, Emami posted an 8.9 per cent year-on-year (YoY) increase in its consolidated net profit, which stood at Rs 162.17 crore in Q4, up from Rs 148.90 crore in the same quarter last fiscal.The company’s consolidated revenue also grew 8.1 per cent YoY to Rs 963.05 crore in the last quarter of FY25.For the full financial year FY25, Emami reported a revenue of Rs 3,809.19 crore, a rise of 6.5 per cent compared to the previous financial year.Net profit for the full financial year 2024-25 rose 11.5 per cent to Rs 806.46 crore.Emami’s global operations recorded a 6 per cent increase in Q4, with solid performance in SAARC, Southeast Asia, the CIS region, and Africa.Organised trade channels such as modern trade, e-commerce, and institutional sales contributed significantly, accounting for 27.6 per cent of domestic revenue.These channels grew 13 per cent YoY, outpacing the overall domestic business.Harsha V Agarwal, Vice-Chairman and Managing Director, said the company’s domestic business grew by 11 per cent in Q4, driven by a 7 per cent increase in volume.He added that input costs remained under control, and Emami will continue to focus on strengthening its core brands and introducing new premium products.Mohan Goenka, Vice-Chairman and Whole-Time Director, said the company launched over 25 new products during the year and expects strong growth in FY26, especially in its international and strategic business segments.The board approved a special dividend of Rs 2 per share, taking the total dividend payout for FY25 to Rs 10 per share, or 54 per cent of the company’s profit after tax.–IANSpk/na

Mumbai, May 16 (IANS) Apparel manufacturer Cantabil Retail India Ltd on Friday reported a sharp decline in its net profit and revenue for the fourth quarter (Q4) of FY25.The company’s net profit for Q4 stood at Rs 22.51 crore, down from Rs 34.38 crore in the previous quarter, marking a drop of approximately 34.54 per cent, according to its stock exchange filing.The company also saw a slight decline in revenue from operations during the quarter.Revenue slipped to Rs 219.02 crore in Q4, compared to Rs 222.91 crore in Q3, showing a decrease of about 1.75 per cent.Profit before tax (PBT) also took a hit, falling nearly 33.78 per cent quarter-on-quarter (QoQ) to Rs 29.92 crore.However, on an annual basis, Cantabil delivered a strong performance. For the full financial year FY25, the company’s net profit rose by 20.31 per cent to Rs 74.86 crore from Rs 62.22 crore in FY24.Revenue from operations increased by 17.61 per cent to Rs 729.51 crore, compared to Rs 620.28 crore in the previous fiscal.The company’s Chairman and Managing Director, Vijay Bansal, expressed satisfaction with the company’s full-year results despite a challenging retail environment.He noted that robust volume growth of over 15 per cent and a customer-centric strategy helped the company reach record revenue and profit levels in FY25.“We are pleased to report a historical full year performance for FY25. The robust volume growth of over 15 per cent during the year underscores the robustness of our brand,” Bansal mentioned.He added that signs of a demand recovery and the prediction of an above-normal monsoon are likely to support improved consumer sentiment going forward.Bansal also said that Cantabil remains focused on strengthening its brand, expanding its market reach, and enhancing customer convenience.During FY25, the company accelerated its store expansion strategy by opening 66 new outlets on a net basis.It launched its first store in 2000 in New Delhi and has since expand presence in the fashion apparel sector.–IANSpk/na

Mumbai, May 16 (IANS) Hyundai Motor India on Friday reported a slight decline in its…

Tirupati, May 16 (IANS) In a landmark move poised to redefine higher education opportunities for Indian students, Mohan Babu University (MBU) has partnered with Pennsylvania State University (Penn State), US, to launch India’s first-ever joint degree programme with a QS top 100 ranked global university.Ranked 89th in the QS World University Rankings 2025, Penn State is one of the most prestigious public research universities in the world. This partnership offers Indian students global exposure and a top-ranked US degree at nearly half the cost, along with access to world-class academics, research, and career opportunities.The Memorandum of Agreement (MoA) between the two institutions was signed at the MBU campus in Tirupati in the presence of Dr. M. Mohan Babu, Chancellor, MBU; Vishnu Manchu, Pro-Chancellor; and Vinay Maheshwari, Executive Director. Representing Penn State were Dr. David M. Callejo Pérez, Chancellor, and Dr. Vahid Motevalli, Interim Vice Chancellor for Academic Affairs. The collaboration will enable Indian students to pursue an integrated international academic journey.“This collaboration empowers our students by providing access to exceptional global education at a fraction of the typical cost. It brings the best of international academic practices to Tirupati while opening up life-changing career possibilities for Indian students,” said Vishnu Manchu, Pro-Chancellor of MBU.“We are proud to collaborate with Mohan Babu University, an institution that shares our commitment to academic innovation and inclusive excellence. This joint degree is more than a partnership; it’s a shared mission to prepare globally aware and professionally agile graduates,” added Dr. David M. Callejo Perez, Chancellor, of Penn State University.Under the undergraduate 2+2 structure, students will complete their first two years at MBU and the remaining two years at Penn State, earning a joint degree from both Penn State and MBU.For postgraduate aspirants, the collaboration offers two formats; a 4+1 programme (four years at MBU followed by one year at Penn State) and a 1+1 programme (one year at each institution).The partnership offers Indian students access to world-class faculty, advanced research infrastructure, and an internationally benchmarked curriculum.Beyond academics, students gain exposure to diverse learning environments and global industry standards, significantly enhancing their professional agility and employability in India and abroad.The programme is also designed with accessibility and affordability at its core. Students will benefit from significant cost savings, nearly 50 per cent lower than pursuing a full international degree abroad.In addition, dedicated scholarships and financial aid opportunities will be made available to support eligible students. While studying at Penn State, students may also take advantage of on-campus work opportunities to help offset their living expenses.With a well-integrated credit transfer mechanism between Mohan Babu University and Penn State, the programme is structured to ensure a seamless transition for students.Both institutions will provide comprehensive academic and administrative support through dedicated coordinators, alongside visa assistance and continuous career guidance to help students navigate every step of their international academic journey.“We are committed to creating transformative opportunities for our students at Mohan Babu University. This partnership with Penn State ensures that our students gain a truly global academic experience, access to cutting-edge research, and an international degree — without the typical financial barriers. It’s a giant leap toward our vision of redefining education in India,” said Vinay Maheshwari, Executive Director, MBU.This partnership marks a significant milestone in Mohan Babu University’s journey toward becoming a globally connected academic powerhouse. By bringing an international degree within the reach of ambitious Indian students, the university reinforces its mission of making world-class education more accessible, inclusive, and future-focused.–IANSrvt/

New Delhi, May 16 (IANS) India’s Artificial Intelligence (AI) talent pool has crossed 4 lakh in 2025, according to a report on Friday.The report by Quess Corp, a staffing and workforce solutions company, showed that India’s AI talent pool has reached 416,000 professionals.However, it comes with a 51 per cent demand-supply gap, indicating an urgent need to build future-ready capabilities.AI hiring has expanded 8 times since 2017, marking a clear shift from generalist roles to capability-aligned hiring, the report said.Job descriptions increasingly emphasise stack fluency, production readiness, and tool-specific proficiency — reflecting the enterprise’s move from experimentation to scaled deployment.“The emergence of AI isn’t just a talent shift — it’s a generational opportunity. Between March 2024 and March 2025, demand for AI and data talent in India surged by nearly 45 per cent,” said Kapil Joshi, CEO – of Quess IT Staffing.“In emerging fields like GenAI engineering, there’s just one qualified professional for every ten open roles — a gap that signals not just a hiring challenge, but a strategic one. India has the scale, capability, and potential to lead the global AI revolution. But to truly seize this moment, businesses, educators, and policymakers must act with urgency,” Joshi added.Further, the report revealed a surge in the salary of AI experts.Entry-level professionals earn Rs 8-12 LPA, while specialists in NLP and GenAI with 5-8 years of experience command Rs 25–35 LPA. Senior professionals are drawing over Rs 45 LPA in product firms and Global Capability Centres (GCCs).The BFSI sector accounts for 24 per cent of the total AI demand in India, followed by IT Services, and Healthcare.Roles in demand include data scientists, ML engineers, AI developers, and AI researchers. Demand is also rising for AI product managers and business analysts who can translate models into business impact.While Bengaluru, Delhi NCR, and Hyderabad anchor India’s GenAI hiring, emerging Tier-2 cities now contribute 14-16 per cent of total AI demand. Kochi, Ahmedabad, and Coimbatore alone account for 70 per cent of this Tier-2 momentum, highlighting the rise of distributed AI talent hubs beyond the metros.GCCs account for 23 per cent of India’s AI hiring, playing a pivotal role in shaping India’s GenAI-ready workforce.The report calls for strategic academia-industry partnerships, tailored upskilling programmes, and bold policy interventions to equip India’s workforce for the AI-driven future.–IANSrvt/

Mumbai, May 16 (IANS) The Indian stock markets ended lower on Friday as investors chose to book profits after recent gains.Both benchmark indices — Sensex and Nifty — closed in the red in the final trading session of the week.The Sensex dropped by 200.15 points, or 0.24 per cent, to settle at 82,330.59. During the day, it moved between a high of 82,514.81 and a low of 82,146.95.Similarly, the Nifty slipped by 42.30 points, or 0.17 per cent, to close at 25,019.80. The Nifty remained in consolidation mode, taking a breather after Thursday’s rally.”Indicators and overlays are consistently pointing towards further strength in the short term. Any dips are likely to be bought into, with support placed at 25,000/24,800,” said Rupak De of LKP Securities.On the higher side, a move above 25,120 could take the index towards 25,250/25,350, he added.While the headline indices saw declines, the broader market showed strong performance.Small-cap and mid-cap stocks outperformed, with the Nifty Smallcap100 gaining 1.86 per cent and the Nifty Midcap100 rising 0.94 per cent.Among the Sensex-listed companies, Eternal (formerly Zomato), Hindustan Unilever, Asian Paints, ITC, and IndusInd Bank were the top gainers.Their stocks rose between 0.60 per cent and 1.20 per cent.On the flip side, Bharti Airtel, HCL Tech, State Bank of India, Infosys, and Tech Mahindra were among the top losers, with declines ranging from 0.79 per cent to 2.76 per cent.Sector-wise, the markets closed on a mixed note. On the NSE, indices like Nifty IT, Metal, Pharma and Healthcare ended in the red, posting losses of up to 0.84 per cent.On the other hand, several sectors saw gains, with Nifty Realty emerging as the top performer, closing 1.6 per cent higher.The market volatility gauge, India VIX, also known as the fear index, declined by 2.02 per cent to settle at 16.55 points on Friday — indicating a slight easing in market uncertainty.“The overall mood in the market was cautious, as investors chose to lock in profits at higher levels after a strong run-up in recent sessions,” market experts said.The Indian rupee ended slightly higher on Friday at 85.51 against the US dollar, compared to Thursday’s closing rate of 85.54.“Looking ahead, the USD-INR spot rate is expected to find support around the 84.90 level, while facing resistance near 85.94,” Dilip Parmar of HDFC Securities said.–IANSpk/na