Category Archives: Business

Omani Sanad Al Rawahi becomes first FIA scholar at the European Sport Business School

FIA President Mohammed Ben Sulayem says new scholarship supports next generation byopening doors to management careers in motorsport

Dubai, UAE, June 24: The Fédération Internationale de l’Automobile (FIA), the global governing body for motor sport and the federation for mobility organisations worldwide, today announced that Omani Sanad Al Rawahi has been named the first-ever recipient of the FIA Scholarship for the Master’s in International Sports Management.

Delivered in partnership with the European Sport Business School (ESBS) in Spain, the scholarship offers aspiring motor sport professionals the opportunity to develop the skills, knowledge and network required to build a career in the global sports industry.

Provided through the FIA University Scholarship Programme, it creates new pathways into motor sport for talented individuals from a wide range of backgrounds.

Al Rawahi, Motorsport Manager at the Oman Automobile Association, brings more than a decade of experience managing race facilities, coaching drivers and delivering national and international events.

He has progressed from marshal and racing coach to leading the development and growth of motor sport across Oman. A graduate of the FIA’s Immersion Programme (2024) and Advanced Leadership Programme (2025), he exemplifies the scholarship’s mission to develop motor sport leaders from emerging nations.

H.E. Mohammed Ben Sulayem, FIA President, said: “This new scholarship opens doors to management careers in motorsport, ensuring that future leaders are defined by their potential and ambition.

“As part of our FIA University Scholarship Programme, this addition reflects our commitment to supporting the next generation by expanding opportunities around the world. Congratulations to Sanad as the first scholar to begin this exciting journey, I wish him all the success.”

Sanad Al Rawahi, FIA ESBS Scholar, said: “Winning the FIA Scholarship is a real honour and a milestone in my motor sport journey. It gives me the opportunity to learn from some of the best in the industry, and I hope to bring that knowledge back to Oman to help develop local talent and contribute to the growth of motor sport across the region.”

The Master of International Sports Management prepares students for leadership roles across the sports industry through a practical, industry-focused approach.

Established in 2009, it is recognised as one of the leading sports management degrees in Spain and Europe, and has consistently ranked as the top Master’s of its kind in Spain since 2017. The scholarship covers full tuition fees alongside a contribution towards travel and living costs in Spain.

Jorge Coll, ESBS Founder and Honorary President at ACE Education Spain, said: “We are delighted to welcome the first FIA scholar to the Master’s in International Sports Management. Sanad’s experience and ambition embody exactly the kind of leadership this programme is designed to nurture.”

Further information about the scholarship and how to apply can be found at fia.university or by emailing scholarship@fia.com.

Why Indoor Air Quality Is Becoming a Wellness Priority

When people think of air pollution, they often picture smog-filled roads, vehicle emissions, and industrial smoke. However, what many overlook is that the air inside our homes can sometimes be more polluted than the air outside.

From dust, pet dander, and pollen to cooking fumes, smoke, mould spores and volatile organic compounds (VOCs) released from household products and furnishings, indoor spaces can trap a variety of pollutants. Experts suggest that indoor air can be two to five times more polluted than outdoor air due to limited ventilation and the accumulation of contaminants over time.

As awareness around indoor air quality grows, Eureka Forbes is witnessing increasing consumer interest in solutions that help create healthier living spaces. Air purifiers are becoming an important household appliance, helping remove fine dust, allergens, odours and harmful airborne particles through advanced filtration technologies.

Commenting on the importance of indoor air quality, Dr Anil Kumar, Scientist at Eureka Forbes, said, “People often focus on outdoor pollution because it is visible, but indoor air pollution can be equally concerning. Since we spend a significant portion of our time indoors, maintaining clean indoor air is becoming increasingly important for overall health and well-being.”

Poor indoor air quality can contribute to allergies, respiratory discomfort, disturbed sleep and asthma flare-ups, particularly among children, elderly individuals, and those with existing respiratory conditions. To address this growing need, Eureka Forbes offers smart air purification solutions designed to help consumers create healthier indoor environments.

As conversations around wellness continue to evolve, clean indoor air is becoming an essential part of a healthy lifestyle. While outdoor pollution remains a challenge, improving the quality of the air inside our homes is equally important.

India’s Emerging Insurgent Brands Drive Dollar 7.5 Billion Revenue in FY25

June 24: A new report has highlighted the rapid rise of India’s “insurgent brands,” which together generated over $7.5 billion in revenue in FY25, reflecting strong consumer demand for new-age, digital-first businesses.

These brands, typically characterised by innovative business models, strong digital presence and direct-to-consumer engagement, have been expanding rapidly across sectors such as lifestyle, personal care, food and beverages, and consumer goods.

According to the report, the growth of these brands has been driven by changing consumer preferences, increased online adoption and greater willingness among younger consumers to explore alternative products beyond traditional market leaders.

Industry observers note that improved access to digital platforms, logistics networks and funding ecosystems has enabled these brands to scale quickly and compete with established players in the market.

The report also highlights that insurgent brands are increasingly focusing on niche markets, product differentiation and community-driven marketing strategies to build strong customer loyalty.

Experts believe the segment is expected to continue expanding as India’s digital economy matures, creating new opportunities for entrepreneurship and innovation in the consumer sector.

India and US Hold Series of Meetings to Strengthen Trade Partnership

New Delhi, June 24 : India and the United States have concluded a series of meetings aimed at advancing a mutually beneficial bilateral trade agreement, focusing on expanding economic cooperation and deepening trade and investment ties between the two countries.

Officials from both sides reviewed ongoing discussions and explored pathways to enhance market access, strengthen supply chain resilience and promote balanced trade growth.

The talks are part of continuing efforts to build a comprehensive trade framework that supports businesses, improves economic opportunities and encourages greater collaboration across key sectors including goods, services and emerging technologies.

Both countries reaffirmed their commitment to working together to address outstanding issues and create a more predictable and stable trade environment for businesses and investors.

The discussions also highlighted the importance of strengthening bilateral economic relations in the context of evolving global trade dynamics and shared strategic interests.

Further engagement is expected as both sides continue to work toward finalising a mutually beneficial trade pact.q

India’s automotive market accelerates – Feintool opens first production site in Pune

June 26: On June 24, Feintool officially inaugurated its first production facility in India, located in the industrial hub of Pune. Production is now being ramped up to fulfil initial customer orders, with a focus on fine-blanked automotive components.
 

At the opening ceremony, CEO Lars Reich underlined the strategic relevance of the new site: “Feintool is proud to meet its customers’ demand for local production in India with the facility in Pune. We are in the right place at the right time to benefit sustainably from the momentum in the Indian automotive industry and to capitalize on further opportunities in the growing industrial markets in India.”

With 18 production sites across Asia, Europe, and the United States, Feintool offers large-series manufacturing of high-precision components based on its core technologies: fineblanking, cold forming, and e-lamination stamping.

Marcel Pernici, President of Feintool Asia, highlighted the strengths of Feintool: “With our ‘local-for-local’ approach, we supply our customers directly in their regional markets while leveraging Feintool’s global technological expertise. This makes us more agile and less dependent on geopolitical developments, while ensuring the high level of reliability our customers expect.”

India is already the world’s third-largest automotive market and is expected to grow strongly. At the same time, the country is gaining importance as an export hub. Many of Feintool’s existing automotive customers are expanding their activities in India and require reliable local supplier support.

Tobias Gries, Managing Director India, is responsible for building Feintool’s business in the region: “We have established a strong team in India. With Feintool’s global expertise, we are now ramping up production in Pune—starting with fineblanked automotive seating systems. Looking ahead, we are ready to expand into cold forming, e-motor core production and even hydrogen applications. The plant is fully prepared for further expansion as demand develops.”

The new Pune site reflects Feintool’s core strengths: a clear local-for-local strategy, globally leading technological expertise, and a consistent focus on customer and market needs. 

India Emerging as Key Growth Engine for Amazon’s Expanding Global Business

June 24: India is positioned to play a central role in driving the fastest-growing segment of Amazon’s global operations, according to Amazon CEO Andy Jassy.

Highlighting the country’s strategic importance, Jassy said India’s large customer base, expanding digital infrastructure and rapid adoption of e-commerce are contributing to strong business momentum in the region.

He noted that India continues to be one of Amazon’s most dynamic markets, supported by increasing internet penetration, growing small and medium business participation and rising demand for online retail and digital services.

The company sees significant long-term opportunities in India across e-commerce, cloud services and digital innovation, driven by the country’s evolving consumption patterns and technology adoption.

Industry observers say India’s growing digital economy and supportive regulatory environment are helping global companies scale their operations and deepen market presence.

The remarks underscore India’s importance in Amazon’s global strategy as the company continues to invest in technology, logistics and infrastructure to strengthen its presence in the country.

Gartner Predicts AI Coding Costs Will Surpass Average Developer’s Salary by 2028 as Token Consumption Surges

Stamford, Conn., June 24: By 2028, AI coding costs will overtake the average developer’s salary due to rising large language model (LLM) token consumption and the shift to consumption-based licensing models, according to Gartner, Inc., a business and technology insights company.

AI tokens are the units of data processed by generative AI models. Token consumption directly impacts the cost of AI coding tools, particularly under consumption-based pricing structures.

“Organizations are rapidly moving from experimentation to scaled deployment of AI coding agents, but many are underestimating the financial impact of rising token consumption,” said Nitish Tyagi, Sr. Principal Analyst at Gartner. “Token discipline will not emerge through developer choice alone, as developers tend to optimize for speed and convenience over cost efficiency. Without a governed engineering operating model, costs can escalate faster than the productivity gains these tools are designed to deliver.”

Consumption-Based Pricing Introduces Cost Predictability Challenges

The shift from seat-based licensing to consumption-based pricing among AI coding agent vendors is introducing highly variable cost structures for software engineering workloads. Many vendors lack transparency into how token consumption is calculated and billed, limiting enterprises’ ability to accurately forecast and control costs.

Without clear visibility into token usage across development tasks, organizations risk budget overruns and reduced ability to track cost-to-value outcomes.

“Most organizations still lack the maturity and frameworks to effectively measure cost versus business impact,” said Tyagi. “Software engineering leaders are increasingly concerned as token-driven AI spend becomes harder to justify, with budgets often being depleted earlier than expected.”

Usage Patterns and Governance Gaps Are Driving Cost Pressure

Beyond pricing and visibility challenges, how AI coding agents are used within organizations is further driving cost pressures. Token overspending is often linked to how software engineering leaders govern usage, with common failure modes including ungoverned autonomy in agent-driven workflows, bloated context windows and the absence of structured feedback mechanisms to optimize usage.

In addition, AI coding vendors are yet to deliver mature, built-in cost optimization capabilities in AI coding agents, further contributing to cost escalation.

“AI coding costs will continue to rise as infrastructure investment and profitability challenges push model pricing higher,” said Tyagi. “At the same time, as more developers adopt AI tools, light users are expected to rapidly become mainstream users as familiarity and reliance increase, driving further growth in token consumption and overall spend.”

To manage rising costs and avoid budget overruns, Gartner recommends that software engineering leaders implement a disciplined operating model for AI usage:

• Establish a use-case-driven decision framework: Organizations should clearly define when AI coding agents should be used and determine appropriate levels of autonomy for each task. This includes classifying development tasks into three execution models: developer‑led, developer‑with‑agent, and fully agent‑led.
• Align model selection with task complexity: AI coding agents are most cost-effective when work is broken into smaller tasks that can be handled by smaller models, with escalation only when complexity demands it. Engineering and platform teams should implement intelligent model routing strategies that direct simpler, high-frequency tasks to smaller models while reserving frontier models for complex and high-value development work.
• Mandate context engineering practices: Developers must be trained to optimize the input context provided to AI systems by including only relevant information, summarizing content where possible, and eliminating unnecessary data to reduce token consumption without compromising output quality.
• Implement governance and cost controls: Organizations should introduce mechanisms such as token thresholds, escalation policies, and automated monitoring to manage usage. Embedding these controls into engineering workflows ensures consistency and prevents uncontrolled cost growth.
• Embed token usage reviews into development cycles: Leaders should mandate regular reviews of high-token-consuming workflows as part of sprint retrospectives to identify inefficiencies, refine practices, and promote knowledge sharing across engineering teams. 

Additional Insights Available

Gartner clients can read more in How to Optimize Token Consumption for AI Coding Agents. 

Learn how software development teams compare to others in the Gartner Software Engineering Score.  

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India and South Korea Explore Deeper Cooperation in Startups and Innovation

New Delhi, June 24: External Affairs Minister S. Jaishankar held discussions with South Korean Foreign Minister Cho Hyun to review bilateral relations and explore new opportunities for collaboration, particularly in startups, innovation and emerging technologies.

The talks focused on strengthening the India–South Korea strategic partnership, with both sides expressing interest in expanding cooperation in areas such as digital innovation, technology-driven entrepreneurship and economic engagement.

Both ministers reviewed ongoing bilateral initiatives and exchanged views on enhancing business-to-business linkages, with a special emphasis on supporting startup ecosystems in both countries.

The discussions also highlighted the growing role of innovation-led growth in shaping future economic partnerships, with startups identified as a key driver of bilateral cooperation.

Officials said the meeting reflects the shared commitment of India and South Korea to deepen economic ties and encourage greater collaboration between entrepreneurs, investors and technology firms.

The two sides also agreed to continue high-level engagement to further strengthen cooperation in trade, investment and emerging sectors in the coming years.

Gold, Silver Slip Nearly 2 pc as Global Rate Concerns Weigh on Demand

June 24: Gold and silver prices declined nearly 2 per cent in global markets as investors turned cautious amid uncertainty over the global interest rate outlook.

The weakness in bullion was driven by expectations that interest rates may remain elevated for longer than previously anticipated, reducing the appeal of non-yielding assets such as precious metals. A stronger US dollar also added pressure, making gold more expensive for buyers holding other currencies.

Market sentiment remained subdued as central banks continued to signal a data-dependent approach to monetary policy, limiting hopes of near-term rate cuts. This has led to reduced safe-haven demand in the precious metals segment.

Silver prices mirrored the decline in gold, tracking both macroeconomic sentiment and concerns over industrial demand in key global markets.

Analysts said short-term volatility in bullion is likely to persist as investors respond to evolving interest rate expectations and currency movements. However, long-term demand for gold and silver remains supported by inflation-hedging needs and ongoing global economic uncertainties.

Market participants are now awaiting fresh economic data and central bank signals for clearer direction on interest rate trends and their impact on commodity prices.

Account Aggregator Adoption Accelerates Financial Inclusion

June 24: India’s Account Aggregator (AA) ecosystem facilitated nearly 3.8 crore financial services in FY26, reflecting growing adoption of digital consent-based data sharing across the financial sector.

The framework enables secure exchange of financial information between institutions, helping banks, non-banking financial companies (NBFCs) and fintech firms streamline lending, improve credit assessment and simplify customer onboarding.

Industry experts say the rising usage of the AA system highlights India’s shift toward a more integrated and digital financial infrastructure, where data access is faster, safer and driven by user consent.

The ecosystem is also playing an important role in expanding financial inclusion by improving credit availability for individuals and small businesses, especially those with limited or informal credit histories.

With increasing participation from financial institutions and technology platforms, the Account Aggregator network is expected to scale further, supporting more efficient and transparent financial services in the coming years.

Experts believe the continued expansion of digital public infrastructure such as the AA framework will strengthen India’s financial ecosystem and enhance access to credit across the economy.