Business
Wipro announces Innovation Network; launches new 60,000 sq. ft. Innovation Lab in Bengaluru
Wipro Innovation Network
Wipro has announced the launch of its global Wipro Innovation Network designed to accelerate strategic, client-centric co-innovation. The network will leverage frontier technologies ranging from AI to Quantum Computing. The company also announced the opening of its newest 60,000 sq. ft. Innovation Lab at its Kodathi campus in Bengaluru.Published on May 29, 2025
The Wipro Innovation Network is said to focus on five strategic frontier technology themes: Agentic AI, robotics with embodied AI, quantum computing, digital ledger technology, and quantum-safe cyber resilience.It will bring together Wipro’s innovation ecosystem, including the Innovation Labs, the Partner Labs, Wipro Ventures, its crowdsourcing platform Topcoder, alliances with leading academic and research institutions, and its deep technology talent to create an ongoing loop of ideation, research and innovation.Companies to follow
Wipro Innovation Network
“At Wipro, we believe that collaboration fuels innovation,” said Srini Pallia, CEO and Managing Director, Wipro Ltd. “The Wipro Innovation Network is a catalyst for AI-powered co-innovation. By bringing together our global clients, partners, academia, and tech communities, we aim to accelerate innovation that solves real-world challenges, unlocks bold new possibilities, and drives competitive edge for our clients.”They can also experience a range of advanced solutions, including agentic systems for software engineering, Smart Factories powered by embodied AI, the Cloud Car, Inspect AI, Wealth AI, Earnings AI, and quantum computing applications for drug discovery, among others. Published on May 29, 2025 Companies to follow
The Wipro Innovation Network is said to focus on five strategic frontier technology themes: Agentic AI, robotics with embodied AI, quantum computing, digital ledger technology, and quantum-safe cyber resilience.
Business
India cuts customs duty on crude edible oils to 16.5%, extends duty-free import of yellow peas

Indian Vegetable Oils Producer Association President Sudhakar Desai said edible oil processors had been seeking an increase in the duty differential as prime palm oil-producing countries such as Malaysia and Indonesia were subsidising exports of refined, bleached and deodorised (RBD) palm oil and palmolien. A trade expert said the duty-free import will favour Russia and Canada, while pulses import could rise further from the record 6.63 million tonnes in 2023-24. The SEA president said the cost and freight price of RBD palmolien is approximately –50 per tonne lower than CPO. It encourage refined imports at the cost of domestic value addition.
Effective duty
The other feature of Friday’s order is that the relief that countries such as Nepal got through the South Asian Free Trade Agreement will be reduced. Nepal had a 35 per cent duty advantage due to which at least an additional one million tonnes of palm oil was being exported to India.The Solvent Extractors’ Association of India (SEA) said the Government’s decision to increase the duty differential between crude and refined edible oil from 8.25 per cent to 19.25 per cent will help create a level-playing field for domestic refiners and contribute to stabilising edible oil prices for Indian consumers.Published on May 30, 2025 Desai said it will help growers, too, as it would curb imports of refined palm oil, in particular.
Growers to benefit
The duty on refined cooking oils – palm, soya, rapeseed and sunflower -is 32.5 per cent, with the 10 per cent social welfare cess making the effective duty 35.75 per cent. “We were asking for a 20 per cent duty differential. After today’s revision, the differential is 19.25 per cent. We will take this,” said Desai. “That duty advantage has been cut to some extent. It will help the industry,” the IVPA President said.
Aiding refiners
A gazette notification said the duty cut will come into effect from May 31 (Saturday). The edible oil sector has welcomed the duty cut since it widens the duty differential between crude and edible cooking oils to 19.25 per cent. From May 31, crude edible oils – palm, soya, rapeseed and sunflower – will attract a basic Customs duty of 10 per cent, 5 per cent agri cess, 10 per cent social welfare cess, taking the effective duty to 16.5 per cent. Asthana said this trend has been exacerbated by the export policies of supplier countries, which impose higher export duties on CPO (raw material) and lower duties on refined palmolien (finished goods). India imports a significant volume of palm oil, primarily from Indonesia and Malaysia. Historically, Indian refiners have imported CPO, and substantial investments have been made in port-based palm oil refining infrastructure to meet the growing domestic demand for palmolien. Importing CPO enables value addition within the country and supports employment generation in the refining sector, said Asthana.
Trade upset on yellow peas move
As a result of these subsidies over the past year, imports of RBD increased to 35 per cent of total palm oil imports. Sanjeev Asthana, SEA President, said it will discourage imports of refined palmolien and shift demand back to crude palm oil (CPO). It will revitalise the domestic refining sector. “This move will not impact the overall volume of edible oil imports and is unlikely to cause any upward pressure on edible oil prices,” he said. The Indian government late on Friday cut the import duty on crude edible oils such as palm, soyabean and sunflower oil to 16.5 per cent overall from 27.5 per cent. However, it extended duty-free import of yellow peas until March 31, 2026. On the other hand, the Centre’s decision to permit duty-free import of yellow peas irked the trade. “Yellow peas imports are responsible for the current bearish trend in prices of pulses. This will affect growers too, as they are getting returns below the minimum support price for crops such as chickpeas (chana/gram),” said a trader, without wishing to identify.


The Indian government late on Friday cut the import duty on crude edible oils such as palm, soyabean and sunflower oil to 16.5 per cent overall from 27.5 per cent. However, it extended duty-free import of yellow peas until March 31, 2026. A gazette notification said the duty cut will come into effect from May 31 (Saturday). The edible oil sector has welcomed the duty cut since it widens the duty differential between crude and edible cooking oils to 19.25 per cent. Published on May 30, 2025
Effective duty
On the other hand, the Centre’s decision to permit duty-free import of yellow peas irked the trade. “Yellow peas imports are responsible for the current bearish trend in prices of pulses. This will affect growers too, as they are getting returns below the minimum support price for crops such as chickpeas (chana/gram),” said a trader, without wishing to identify. The Solvent Extractors’ Association of India (SEA) said the Government’s decision to increase the duty differential between crude and refined edible oil from 8.25 per cent to 19.25 per cent will help create a level-playing field for domestic refiners and contribute to stabilising edible oil prices for Indian consumers.Indian Vegetable Oils Producer Association President Sudhakar Desai said edible oil processors had been seeking an increase in the duty differential as prime palm oil-producing countries such as Malaysia and Indonesia were subsidising exports of refined, bleached and deodorised (RBD) palm oil and palmolien. A trade expert said the duty-free import will favour Russia and Canada, while pulses import could rise further from the record 6.63 million tonnes in 2023-24.
Growers to benefit
From May 31, crude edible oils – palm, soya, rapeseed and sunflower – will attract a basic Customs duty of 10 per cent, 5 per cent agri cess, 10 per cent social welfare cess, taking the effective duty to 16.5 per cent. Desai said it will help growers, too, as it would curb imports of refined palm oil, in particular. “That duty advantage has been cut to some extent. It will help the industry,” the IVPA President said.
Aiding refiners
India imports a significant volume of palm oil, primarily from Indonesia and Malaysia. Historically, Indian refiners have imported CPO, and substantial investments have been made in port-based palm oil refining infrastructure to meet the growing domestic demand for palmolien. Importing CPO enables value addition within the country and supports employment generation in the refining sector, said Asthana.The SEA president said the cost and freight price of RBD palmolien is approximately –50 per tonne lower than CPO. It encourage refined imports at the cost of domestic value addition.Asthana said this trend has been exacerbated by the export policies of supplier countries, which impose higher export duties on CPO (raw material) and lower duties on refined palmolien (finished goods). The duty on refined cooking oils – palm, soya, rapeseed and sunflower -is 32.5 per cent, with the 10 per cent social welfare cess making the effective duty 35.75 per cent.
Trade upset on yellow peas move
The other feature of Friday’s order is that the relief that countries such as Nepal got through the South Asian Free Trade Agreement will be reduced. Nepal had a 35 per cent duty advantage due to which at least an additional one million tonnes of palm oil was being exported to India.As a result of these subsidies over the past year, imports of RBD increased to 35 per cent of total palm oil imports. Sanjeev Asthana, SEA President, said it will discourage imports of refined palmolien and shift demand back to crude palm oil (CPO). It will revitalise the domestic refining sector. “This move will not impact the overall volume of edible oil imports and is unlikely to cause any upward pressure on edible oil prices,” he said. “We were asking for a 20 per cent duty differential. After today’s revision, the differential is 19.25 per cent. We will take this,” said Desai.
Business
Israel confirms use of laser weapons to defend against drone attacks

The larger Iron Beam laser, developed by Rafael Advanced Defense Systems and Elbit Systems Ltd., will be integrated into Israel’s multi-level air defenses in the next six months. The technology has been touted as a cheaper way to repel drones and short-range projectiles, with each interception costing less than . The system, however, still has numerous technical limitations and can’t work in cloudy weather.More stories like this are available on bloomberg.comIsrael has deployed laser weapons during its ongoing war to deflect “scores” of aerial attacks, including from drones, the Defence Ministry said in a statement on Wednesday. This is the first time the country has acknowledged the use of directed-energy technologies in the battlefield.The systems were described as a less powerful “prototype” of the 100-kilowatt Iron Beam laser interceptor that will be operational in Israel by the end of the year. The Defence Ministry also released footage of what it said were the lasers intercepting fixed-wing drones in the sky.


The announcement suggests that Israel may soon pull ahead of other countries in the race for laser weapons. Nations have pursued the technology for decades, but efforts to scale lasers have been complicated by significant technical difficulties. The systems were described as a less powerful “prototype” of the 100-kilowatt Iron Beam laser interceptor that will be operational in Israel by the end of the year. The Defence Ministry also released footage of what it said were the lasers intercepting fixed-wing drones in the sky. Israel’s air defenses have faced over 26,000 aerial attacks from missiles, drones and rockets since Oct. 2023. Most of the projectiles, which were fired from Gaza, Lebanon, Syria, Iran, Iraq and Yemen, were intercepted by the Iron Dome and long-range Arrow shield systems. Many drones, however, penetrated its defenses.
Business
Trump admin moves to cancel all federal contracts with Harvard in antisemitism crackdown

Harvard though has been front and center in the White House’s campaign, with the administration suspending more than .6 billion in federal research money and saying the school won’t be able to receive new funding. Trump has also repeatedly called for Harvard to lose its tax-exempt status, which would have significant financial implications, even with the school’s billion endowment.


“We needed to move quickly because the consequences of revocation of visas for our international students were dire,” Garber told the Harvard Gazette. There will be a court hearing this week where Harvard will seek to extend the restraining order, he said.Harvard though has been front and center in the White House’s campaign, with the administration suspending more than .6 billion in federal research money and saying the school won’t be able to receive new funding. Trump has also repeatedly called for Harvard to lose its tax-exempt status, which would have significant financial implications, even with the school’s billion endowment.Homeland Security Secretary Kristi Noem has argued that Harvard’s responses to the government’s requests to provide information about misconduct by foreign students were insufficient.Administration officials are pressuring schools including Columbia, Cornell, Northwestern and other elite universities to institute broad policy changes, raising concerns over academic freedom, free speech and government interference. On Tuesday, Secretary of State Marco Rubio ordered US embassies worldwide to stop scheduling new interviews for student-visa applicants as the Trump administration weighs stricter vetting of social-media profiles, a move that will impact higher education across the country.The letter, first reported by the New York Times, asks agencies to report on their “actions or intended actions with respect to each referenced contract” by June 6.More stories like this are available on bloomberg.comPublished on May 27, 2025 President Donald Trump’s administration is moving to cancel all remaining federal contracts with Harvard University, marking the latest escalation of its battle against the oldest and richest US school. Federal Acquisition Service Commissioner Josh Gruenbaum, in a letter seen by Bloomberg News, is directing federal agencies to review their contracts, terminate those that they deem not critical and transition to other vendors if necessary. The contracts are worth an estimated 0 million, according to a person with knowlege of the matter, who asked not to named discussing the administration’s moves. The government has sought a series of changes as a condition of continuing its financial relationship with the university. It has demanded the university remake its governance, transform admissions and faculty hiring — which the administration has called discriminatory — as well as stop admitting international students who officials say are hostile to American values. Harvard President Alan Garber, who’s Jewish, has apologized for Harvard’s handling of antisemitism on campus and acknowledged that he has experienced prejudice himself at the school. But he has also said the extent of the government’s demands show that “the intention is not to work with us to address antisemitism.” The university has sued the US government over the cuts to funding as well as the block on enrolling international students. The university last week won a temporary court order blocking the government from enforcing the foreign student ban.
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