Hyundai Motor's vehicle selling prices soared over the past five years due to a weak won (South Korean currency), higher costs and high-end models, the company's data showed on Monday. In the domestic market, the average selling price of Hyundai's passenger vehicles rose to 53.19 million won (about $39,210) in the January-March period, up 41 per cent from 37.74 million won (around $27,821) for all of 2019, according to the company's earnings reports. Hyundai's overseas vehicle selling prices also jumped to 64.19 million won (around $47,319) in the first quarter (Q1), up 95 per cent from 32.98 million won (around $24,312) in 2019 mainly due to the won's weakness against the US dollar, reports News Agency.

Digital transformation service provider Yotta Data Services, on Monday, appointed Anil Pawar as the Chief AI Officer and Head of AI Cloud Business Unit. Reporting to Sunil Gupta, Co-founder, MD and CEO, Pawar will lead strategic endeavours within the AI Cloud Business Unit, focusing on leveraging AI, cloud and platform technologies to foster innovation and deliver significant value to customers. “Together, we hope to not just drive growth in the Shakti AI Cloud Business Unit, but also reinforce our commitment towards enabling a truly digital Bharat,” said Gupta.

Tesla CEO Elon Musk said on Monday that affordable satellite internet service Starlink is now available in Fiji, a day after the billionaire launched the service in Indonesia. Musk said that bringing connectivity to remote communities radically improves access to education and economic opportunities. “Starlink is now available in Fiji,” he posted on X. The SpaceX’s internet service is now live across more than 300 islands in the Republic of Fiji, marking the 99th country, territory or market around the world where Starlink’s high-speed internet service is available.

A global summit on artificial intelligence (AI), to be co-hosted by South Korea and Britain this week, will present global AI governance principles to foster innovation, safety and inclusivity, the two nations' leaders said on Monday. In a joint opinion article, President Yoon Suk Yeol and British Prime Minister Rishi Sunak said the upcoming AI Seoul Summit aims to build on the conversation from the first AI Safety Summit held in England last November to address risks and triumphs of the fast-evolving technology, reports. "When we meet with companies at the AI Seoul Summit, we will ask them to do more to show how they assess and respond to risk within their organisations. We will also take the next steps on shaping the global standards that will avoid a race to the bottom," said the opinion published in South Korea's Newspaper.

As artificial intelligence (AI) becomes a key demand driver for cloud investment, Amazon Web Services (AWS), Microsoft Azure and Google Cloud collectively grew by 24 per cent, accounting for 66 per cent of total spending in the first quarter (January-March) period. Tech giant Microsoft outpaced both AWS and Google Cloud, with sales rising by 31 per cent (year-on-year), nearly double the AWS’s growth rate of 17 per cent, while Google Cloud grew 28 per cent YoY, according to global market research firm Canalys.

Hospitality major Oyo will refile its initial public offering (IPO) papers with markets regulator Securities and Exchange Board of India (SEBI) after refinancing its existing $450 million Term Loan B (TLB) at a lower interest rate. Oravel Stays Ltd, which operates the travel-tech company Oyo, is close to finalising its refinancing plans where the company is considering raising $350-450 million (Rs 2,908.5 crore-Rs 3,739.5 crore) through a bond issuance, at an estimated interest rate of 9-10 per cent per annum, sources told on Saturday.

Hari Om Rai, Managing Director of homegrown electronics manufacturer Lava International, has resigned from the board and does not hold any directorial position anymore, the company informed on Saturday. In a statement, the company said that Rai resigned from Lava board in the last financial year (FY24). "Currently, he is not the Managing Director of the company and does not hold any directorial position in the company," a Lava spokesperson said.

Billionaire Sajjan Jindal-led JSW Steel on Friday reported a 64 per cent decline in its consolidated net profit to Rs 1,299 crore for the January-March quarter of 2023-24 compared to the corresponding figure of Rs 3,664 crore in the same period last year.The steel major’s revenue from operations in the fourth quarter declined marginally to Rs 46,269 crore from Rs 46,962 crore in the same period of the previous year, according to a regulatory filing.

An Air India flight, with 180 passengers onboard for Delhi, narrowly avoided a collision with a tug tractor as it was taxiing towards the runway at Pune Airport, an airline official said on Friday. The incident occurred on Wednesday at Pune airport. The plane sustained damage to its nose and a tyre near the landing gear following the encounter with the tug tractor. However, despite the incident and resulting damage, all passengers and crew members aboard were reported as safe.

Aligning with India’s data localisation norms, Google Cloud on Friday announced to bring its AI-powered security operations (SecOps) region to India. The enterprises in the country can now store their Google security operations customer data in the Mumbai region. “Today’s complex threat landscape, combined with talent shortages, requires immediate and innovative solutions. Gemini in Google Security Operations is a catalyst to supercharge our customers’ security operations, a game changer to drive operational excellence with Google’s AI at scale,” said Jyothi Prakash, India Head of Google Cloud Security.