Indian Economy & Market - May 2023

Who Owns The Most Gold?

The gold industry is thriving, as this yellow metal is highly coveted and usually appreciates over the long term. So, who are the individuals and families that own the most holdings of gold in the world? Secondly, how much gold is there in the world? However, there’s only a finite supply of gold in the world.

Is Cook's Recipe Healthy For India?

Apple has opened its first retail store in India, spread over 20,000 square feet over two floors in the Jio World Drive mall in the Bandra Kurla Complex, Mumbai. The store will provide customers with the opportunity to explore Apple products and services. Apple has leased out the space in the mall for 11 year contract. The company will be paying 42 lakh per month as a rental for the store, and will also share a part of the revenues with the space owner. The store will be operationally carbon neutral, relying on 100 percent renewable energy, and will have its own dedicated solar array, making it one of the most eco-friendly stores in the region.

Does AI Pose Dangers To Humanity?

John McCarthy, known as the 'father of artificial intelligence' coined the term "artificial intelligence" in the 1950s. Artificial intelligence is a field, which combines computer science and robust datasets, to enable problem-solving. It also encompasses sub-fields of machine learning and deep learning, which are frequently mentioned in conjunction with artificial intelligence. The goal of Al is to provide software that can reason on input and explain on output. Al will provide human-like interactions with software and offer decision support for specific tasks, but it's not a replacement for humans - and won't be anytime soon. Al is approaching a rough parity with human intelligence and therein lies the dangers it pose to humanity. Al is definitely something to keep an eye on, and we should be asking important questions. But James Rickards says, we shouldn't worry about it taking over the world anytime soon.

On Defeating Fate

Once St.Francis of Assissi visited the sultan of Egypt. Eager to insult the saint, the sultan laid a trap for him.

Importance of Self-Promotion

IF you are going to influence others and persuade them to your point of view, ideally it would be great to hold an important position, be highly visible, and know how to get your cause in the media, or even social media.

Berkshire Hathaway: Main Takeaways from the 2023 Annual Meeting

Berkshire Hathaway’s annual meeting has just concluded. Warren Buffett (92) and Charlie Munger (99) joined by Ajit Jain and Greg Abel on stage took questions from shareholders during a live event in Omaha. Berkshire Hathaway reported a $35.5 billion quarterly profit. Berkshire’s shareholder meeting always attracts throngs of people who admire Buffett and his longtime investing partner Charlie Munger.

TIME TO BUY NBFCs

The RBI's decision to halt the rate hike in the April MPC meeting is a welcome relief for NBFCs as it will prevent a decline in NIM and simultaneously boost loan growth.

Can India digitally leap-frog ahead?

Last year in October, the Prime Minister declared that in the last eight years, India has leaped from the eighth spot in terms of economic size to the fifth spot.

The Dangerous Illusion of Scientific Consensus

If there is a consensus, science challenges it with new hypotheses, experiments, logic, and critical thinking. Ironically, science advances because it believes it has never arrived; consensus is the hallmark of dead science.

White House Warns of 'Severe Damage' to Economy

New analyses by both the Congressional Budget Office and the U.S. Department of the Treasury suggest the United States is rapidly approaching the date at which the government can no longer pay its bills. History is clear that even getting close to a breach of the U.S. debt ceiling could cause significant disruptions to financial markets that would damage the economic conditions faced by households and businesses.