Allianz to cut 1,800 jobs amid AI push

The International Monetary Fund (IMF) has revised India's economic growth forecast for the fiscal year 2026-27 to 6.4%. The new projection is slightly lower than the previous estimate of 6.5% made in April. The revision comes as a result of global challenges such as the ongoing conflict in West Asia and rising energy prices, which are affecting global economic activity and keeping energy costs high.

WhatsApp has launched the Meta Business Agent in India, an artificial intelligence (AI) assistant that automates customer interactions. The tool can recommend products, book appointments, qualify leads, and provide 24/7 support. The announcement was made during the third edition of WhatsApp's annual Business Summit in Mumbai.

Foreign Portfolio Investors (FPIs) have made a record net investment of ₹41,773 crore in Indian government bonds under the Reserve Bank of India's (RBI) Fully Accessible Route (FAR) in June. The massive inflow comes after a brief period of selling earlier this year and is largely driven by expectations that Indian government bonds could be included in the Global Aggregate Bond Index.

The National Payments Corporation of India (NPCI) has announced that biometric-based Unified Payments Interface (UPI) transactions have crossed 600 million in June. The figure highlights the growing acceptance of this secure authentication method among users. The technology allows payments to be authorized through a smartphone's fingerprint or facial recognition, making digital transactions faster and more efficient.

Jeff Bezos's space venture, Blue Origin, is reportedly looking to raise $10 billion in its first-ever external funding round. The company has been valued at $130 billion pre-money, according to a New York Times DealBook report. The move comes as investor interest in space companies has surged after SpaceX's recent IPO last month.

Allianz, a leading global insurance and asset management company, has announced plans to cut up to 1,800 jobs in its travel insurance division. The move comes as the company expands its use of artificial intelligence (AI) technology. Allianz Partners CEO Tomas Kunzmann confirmed the decision at an event in Munich on Tuesday evening.

Google has announced the selection of 20 artificial intelligence (AI) start-ups for its India Accelerator program. The move marks the 10th year of the initiative in India. The chosen companies were selected from a pool of around 2,500 applications, showcasing their potential and innovation in the field. The cohort represents a growing technical maturity within India's start-up ecosystem, tackling high-impact challenges across various sectors such as climate change and healthcare.

The National Council of Educational Research and Training (NCERT) has released a revised edition of its Class 8 social science textbook, "Exploring Society: India and Beyond." The new edition includes several changes, including a revised narrative on the Partition. It now states that the Partition was "widely opposed even by the Indian National Congress" and questions if accepting it was "the only way forward." It drops the line that said Congress leaders were "helpless" as communal violence engulfed the subcontinent.

An alleged embezzlement of donations at Madhya Pradesh's Maa Baglamukhi Temple has come to light amid ongoing investigations over similar allegations at Ayodhya's Ram Temple and Uttarakhand's Badrinath Temple. A three-member inquiry committee will probe the matter. In the Ayodhya case, eight people have been arrested, while in the Badrinath case, an employee of Shri Badrinath-Kedarnath Temple Committee (BKTC) has been suspended after a four-member team began its investigation into alleged irregularities in the management of donations at Badrinath Dham.

As activist Sonam Wangchuk's indefinite hunger strike at New Delhi's Jantar Mantar entered its 10th day on Tuesday, the focus shifted to Cockroach Janta Party (CJP) founder Abhijeet Dipke, who was seen snacking near the fasting activist. Videos of Dipke eating bread pakodas and noodles on stage with Wangchuk went viral, leading to memes and criticism. Critics questioned why only Wangchuk was fasting if the protest was led by the CJP.