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MediaTek unveils new flagship mobile chip in its Dimensity portfolio

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New Delhi, May 7 (IANS) Chip-making giant MediaTek on Tuesday unveiled a new flagship mobile chip in its Dimensity portfolio called the ‘Dimensity 9300+’.

The new chip is designed to accelerate on-device generative Artificial Intelligence (AI) processing and will offer increased clock speeds.

“To enhance these AI experiences, the Dimensity 9300+ offers impressive performance and enhancements to speed up LLM inference, running tokens much faster for a better user experience,” JC Hsu, Corporate senior vice president at MediaTek, said in a statement.

According to the company, the flagship mobile chip boasts AI processing over the previous generation due to MediaTek’s new NeuroPilot Speculative Decode Acceleration technology in the company’s latest generative AI engine.

With NeuroPilot Speculative Decode Acceleration, the chip can run LLMs with seven billion parameters at 22 tokens per second, more than two times the rate of competitive mass market solutions.

Dimensity 9300+ incorporates a second-generation hardware ray tracing engine with an Arm Immortalis-G720 GPU, giving gamers fast ray tracing experiences at a smooth 60 FPS, along with console-grade global illumination effects.

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The chip also utilises MediaTek’s latest HyperEngine technologies to take gaming to the next level.

MediaTek Adaptive Gaming Technology (MAGT) offers a boost in power efficiency when enabled in popular game titles, helping to extend battery life and keep devices cool, the company mentioned.

–IANS

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Menstrual hygiene management is need of the hour: ASSOCHAM CSR Council Chairperson

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New Delhi, May 29 (IANS) Anil Rajput, Chairperson, ASSOCHAM National CSR Council, addressed the gathering at the Menstrual Hygiene Management Conclave & Awards held in New Delhi on the occasion of Menstrual Hygiene Day, 2024.

Laying out the facts and figures around this matter of great importance, he said “The effectiveness of menstrual hygiene management continues to be an area that receives less than the desired attention. The National Family Health Survey indicates that around 22.7 per cent of women in India do not use hygienic methods for menstrual protection. Lack of access to menstrual hygiene facilities contributes to school absenteeism among girls, with around 23 per cent dropping out of school after reaching puberty. To address the same, the Government of India has been running a scheme for the promotion of menstrual hygiene among adolescent girls in the age group of 10-19 years in rural areas. However, amidst these challenges, there’s a growing recognition of the need for innovative and impactful solutions to address menstrual hygiene effectively.”

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The Menstrual Hygiene Conclave and Awards, aim to raise awareness, encourage innovation, and improve menstrual hygiene management, contributing to better health outcomes and reducing stigma around menstruation. The categories in which they were awarded include the most innovative product in menstrual hygiene, maximum impact by a CSR initiative in menstrual hygiene- Corporate/PSUs, maximum impact by a CSR initiative in menstrual hygiene- Implementing agency/NGO and MHM Champion of the Year.

Speaking on the need to create awareness and address the various taboos around this subject, Anil Rajput said: “Over the years, recognising the crucial need to break the silence and raise awareness about menstrual hygiene practices, as well as to combat menstrual stigma and create a supportive environment where every woman and girl can manage her menstruation hygienically, ASSOCHAM has been consistently organising conferences on the different aspects of menstrual health and awareness”.

Anil Rajput also underscored the need to double down on efforts in addressing the various facets of menstrual health and hygiene, He emphasised that “By highlighting exemplary efforts in this area, ASSOCHAM seeks to foster a supportive environment for menstrual health and hygiene, involving various stakeholders including businesses, NGOs, and government bodies. Let’s all redouble our efforts towards menstrual awareness and health and contribute towards building an even more resilient, participatory and powerful India.”

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The government on its part has been playing a vital role in addressing this important subject as it has taken multiple steps to improve menstrual hygiene practices through the schemes/interventions of various Ministries/Departments.

The Ministry of Health and Family Welfare has implemented the Scheme for Promotion of Menstrual Hygiene since 2011 to increase awareness among adolescent girls, to increase access to and use of high-quality sanitary napkins to adolescent girls and to ensure safe disposal of Sanitary Napkins in an environmentally friendly manner.

Further, teachers and Frontline Workers – Auxiliary Nurse Midwives, Accredited Social Health Activist workers and Aanganwadi workers are oriented appropriately in the scheme with the budget provided for the same under Rashtriya Kishor Swasthya Karyakram. In addition, one of the objectives of Beti Bachao Beti Padhao (BBBP) components of ‘Misson Shakti’ is to generate awareness about menstrual hygiene and use of sanitary napkins.

Former Lieutenant Governor of Puducherry, Dr Kiran Bedi who was the chief guest at the event, called upon stakeholders to conduct extensive research to strengthen the menstrual health management system. She also made an appeal to all the awardees to join hands and identify areas in their region to work together and address this issue by creating a mass movement on this critical subject impacting a large number of girls and women in our country.

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Addressing the Menstrual Hygiene Management Conclave, organised by ASSOCHAM in New Delhi, Dr Bedi said that policy intervention is extremely pivotal and emphasised that sanitary pads are also a necessity for women just like water and gas. Talking about the access to menstrual products in prisons, she expressed concern over the issue and called for immediate action.

–IANS

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SEBI slaps Rs 5 lakh fine on AGI Greenpac for not disclosing accurate info to shareholders

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New Delhi, May 29 (IANS) Markets regulator Securities and Exchange Board of India (SEBI) has slapped a Rs 5 lakh penalty on packaging products company AGI Greenpac for “failure to provide accurate, adequate, and explicit disclosure resulting in misrepresentation to the stock exchanges”.

The SEBI order charged the company for withholding crucial information regarding its deal to acquire Hindustan National Glass (HNG), India’s oldest and largest container glass-making company.

According to the order, it was observed that AGI Greenpac also failed to disclose material developments with respect to disclosures made by it to the exchanges “dated October 31, 2022, and March 16, 2023”.

The SEBI said that the company failed to disclose crucial information related to a show-cause notice issued by the Competition Commission of India (CCI) to it, submission of modification to the application filed by AGI to the CCI and litigation related to the CCI order approving the proposed combination of AGI and HNG.

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Between April and October 2023, the AGI stock saw 236 per cent gains — from a low of Rs 334 to a high of Rs 1,089.

AGI’s acquisition of HNG was to make it the largest player in the container glass industry in the country. However, the CCI formed a prima facie opinion that the proposed transaction was likely to cause an appreciable adverse effect on competition (AAEC) in relevant markets.

Before the SEBI order, Justice Vikramajit Sen, the former Chief Justice of the Karnataka High Court and judge of the Supreme Court, had opined that AGI made “partial and deceitful disclosure” about the CCI approval.

“In the event of failure to pay the said amount of penalty within 45 days of the receipt of this order, SEBI may initiate consequential actions including but not limited to recovery proceedings under Section 28A of the SEBI Act, 1992 for the realisation of the said amount of penalty along with interest thereon, inter alia, by attachment and sale of movable and immovable properties,” read the order.

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The AGI Greenpac stock closed at Rs 667.35 a piece, down 2.85 per cent, on Tuesday.

–IANS

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FIIs offload over Rs 24,000 crore in Indian equities in May

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Mumbai, May 29 (IANS) Foreign institutional investors (FIIs) have turned aggressive sellers in Indian equity markets due to the outperformance of the Hong Kong index Hang Seng.

As per the provisional data from the National Stock Exchange (NSE), foreign investors have pulled out around $2.9 billion (Rs 24,000 crore) from the Indian markets so far in May. It is the worst selloff among Asian markets. Foreign funds have been selling Indian equity during all the sessions except two. This is the biggest FII outflow in the Indian market since January 2024.

So far in May, Sensex and Nifty have given returns of 0.9 per cent and 1.25 per cent respectively. During this period, other markets in Asia like Hong Kong have given returns of 5.8 per cent, Japan 1.2 per cent, Korea 1.1 per cent, Taiwan 1 per cent, and Jakarta 0.3 per cent. However, during this period, the Shanghai market has given a negative return of 2 per cent.

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Apart from India, FIIs have withdrawn $700 million from Indonesia, $415 million from Vietnam, $210 million from Thailand, and $58 million from the Philippines.

FIIs have invested $7.59 billion in Japan, $6.26 billion in Taiwan, $1.44 billion in South Korea, and more than $500 million in Malaysia.

Tanvi Kanchan, Head – UAE Business & Strategy, Anand Rathi Shares, and Stock Brokers, said: “The reason behind the selling is the outperformance of the Hong Kong index Hang Seng. FIIs are moving money from expensive markets like India to cheap markets like Hong Kong, where the PE is around 10 compared to around 20 PE in India.”

“There’s uncertainty about the upcoming election. FPIs generally don’t like uncertainty; they prefer to play it safe and lock in the profits they made last year. FII buying may increase after election results,” she added.

–IANS

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S&P Global upgrades India's outlook to positive from stable amid robust economic growth

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New Delhi, May 29 (IANS) Global rating agency S&P Global on Wednesday revised India’s outlook from stable to positive on Wednesday, as the country continues to excel in long-term economic growth amid political stability.

S&P Global said that the “positive outlook reflects our view that continued policy stability, deepening economic reforms, and high infrastructure investment will sustain long-term growth prospects”.

“That, along with cautious fiscal and monetary policy that diminishes the government’s elevated debt and interest burden while bolstering economic resilience, could lead to a higher rating over the next 24 months,” the rating agency said in a statement.

S&P Global expects cautious fiscal and monetary policies to reduce the government’s debt and interest burden, thereby strengthening economic resilience.

This could result in a higher rating within the next 24 months.

“We may also raise the ratings if there is a sustained and substantial improvement in the central bank’s monetary policy effectiveness and credibility, such that inflation is managed at a durably lower rate over time,” S&P Global noted.

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However, S&P Global said it could revert the outlook to ‘stable’ if political commitment to sustainable public finances weakens.

The ratings agency also affirmed ‘BBB-‘ long-term and ‘A-3’ short-term unsolicited foreign and local currency sovereign credit ratings.

“We expect sound economic fundamentals to underpin the growth momentum over the next two to three years,” the ratings firm said.

–IANS

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RBI warns ARCs over evergreening distressed assets

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Mumbai, May 29 (IANS) The RBI has found several instances of Asset Reconstruction Companies, which have been set up to recover NPAs of banks, not fulfilling their role but instead using innovative ways to structure transactions in order to circumvent regulations.

The RBI has sent a clear message to ARC chiefs that they must follow the regulations in both letter and spirit.

“During the course of our onsite examinations, we have come across instances where ARCs have been used or allowed themselves to be used as a conduit to evergreen distressed assets. In many cases, there is a lack of transparency and consistency in the issuance and periodical valuation of Security Receipts (SRs). The practices surrounding levy of management fee leaves much to be desired,” RBI Deputy Governor Swaminathan J said at a meeting with ARCs recently.

He pointed out that some ARCs while enjoying the full benefits of the special position granted to them under the SARFAESI Act and the RBI regulations, have been found to be using innovative ways to structure transactions in order to circumvent regulations.

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Swaminathan also warned that in extreme cases, the RBI may be forced to take regulatory or supervisory actions.

He pointed out that with regulations shifting towards a more principles-based approach, supervision is required to focus more on the substance of transactions rather than their legal form.

The RBI Deputy Governor urged ARC chiefs to adopt a regulation-plus approach where you not only comply with the letter of the regulation but also its spirit.

After a perusal of the scorecard of ARCs, the RBI has concluded that there are more missed opportunities and less than optimal performance by ARCs in fulfilling the principal mandates under the SARFAESI Act.

ARCs enjoy a special place in the financial ecosystem as they are special purpose vehicles set up to help lighten the banking system from the high-value NPAs and are also specialised agencies for maximising recovery and reconstruction efforts.

–IANS

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