Recent developments in technology and business sectors have seen significant investments and approvals. The Indian government has approved $360 million in investments in the IT hardware sector. Out of a total of 40 applications, 27 companies have received approval under the government's expanded incentive scheme to attract big-ticket investments in IT hardware manufacturing [8be86140].
As the 2023 Cricket World Cup final between India and Australia approaches, bars and pubs in Delhi-NCR are making preparations to attract cricket enthusiasts. They are installing large-screen TVs and offering special deals to cater to patrons eager to watch the match [8be86140].
In the tech industry, OpenAI co-founder Sam Altman has been stripped of his CEO title and directorship in a surprise move by the company's board. Altman played a key role in fundraising efforts and attracting AI engineering talent to OpenAI [8be86140].
The International Monetary Fund (IMF) is considering augmenting Egypt's $3 billion loan program due to economic difficulties caused by the Israel-Hamas war. The conflict has had devastating impacts on Gaza's population and economy, as well as on the West Bank's economy and neighboring countries [8be86140].
The Armenian government has approved a project aimed at stimulating the entry of foreign investment funds into the Armenian market. If a foreign investment fund opens a branch in Armenia and acquires a stake worth at least AMD 250 million, the state will invest 30% of the fund's net assets, but not more than AMD 3 billion. These funds must be managed by companies with assets over $1 billion and invest in Armenian resident companies or in their authorized capital, operating in Armenia's priority economic sectors, which are processing industry, energy, and tourism [19626577].
Meanwhile, the Nigerian government has approved N110 billion in capital startups for new businesses across the country. The fund will be distributed via the Bank of Industry and the Ministry of Youth Development. The fund will be channeled via the revamped Nigeria Youth Investment Fund (NYIF). The Ministry of Youth Development and the Bank of Industry will establish a specialized NextGen Bank dedicated to growing youth entrepreneurs. Plans are underway to establish a Presidential Initiative on Youth Clusters, focusing on critical sectors such as agriculture, manufacturing, and technology. The ongoing youth schemes involve about 146,998 beneficiaries engaged in vocational, social inclusion, technology, agriculture, and entrepreneurial training [38145ad4].