South Korea's exports of pharmaceutical products reached an all-time high in the first quarter thanks to strong demand for Korean medicines in the European market, according to a report on Wednesday.

Outbound shipments of pharmaceuticals came to a quarterly high of US$2.56 billion in the January-March period, up 17.7 per cent from a year earlier, according to data compiled by the Korea Health Industry Development Institute, news agency reported.

In particular, shipments of biopharmaceutical products increased by 30.2 per cent year-over-year, driven by sharp rises in shipments to Germany and Hungary, which rose 230 per cent and 112 per cent year-over-year, respectively.

Vaccine exports also escalated 37.7 per cent on high demand in South America and Africa.

Samsung Electronics released a teaser for its upcoming foldable smartphone on Wednesday, promising wider screens and higher-performance cameras.

In a short video posted on its official Newsroom site, the company showcased a smartphone folding in half like a book, hinting at the next evolution of its foldable lineup, reports news agency.

Samsung Electronics highlighted increasing consumer demand for larger screens, enhanced cameras and advanced artificial intelligence (AI) features.

"The demand is clear -- an Ultra-experience that goes beyond a simple list of upgraded features in a smaller and more portable form factor," the company said.

"With industry-leading hardware, cutting-edge performance and seamless AI integration optimised for the foldable format, it's what users have come to expect from Galaxy Ultra."

Investors on Tuesday largely ignored a recent Wall Street Journal (WSJ) report alleging new US prosecution scrutiny over Adani's potential Iran sanctions violations. Adani Group stocks demonstrated resilience, with the group's market capitalisation down a mere 1.8 per cent, against the broader Nifty's 0.7 per cent dip.

Adani Enterprises saw a 1.9 per cent decline, while ACC fell just 0.3 per cent.

The Adani Group swiftly dismissed the report as "baseless and mischievous." Analysts suggest the market is increasingly discounting such external pressures, viewing them as targeted attacks on Adani's crucial role in India's energy security.

Tesla India Motor and Energy Private Ltd has leased a 24,500-square-foot space in Mumbai’s Kurla West to set up a service centre, located close to its upcoming showroom in the Bandra Kurla Complex (BKC).

This move marks a significant step in Tesla’s plans to enter the Indian electric vehicle (EV) market, although the company does not currently intend to manufacture vehicles in the country.

According to real estate documents sourced by CRE Matrix, a property data analytics firm, Tesla has signed a lease and license agreement with Bellissimo in City FC Mumbai I Private to rent the space in Lodha Logistics Park.

The agreement is for a five-year period, with a starting monthly rent of Rs 37.53 lakh. Over the duration of the lease, Tesla will pay nearly Rs 25 crore in total, including a security deposit of Rs 2.25 crore, as per the documents.

Tesla has made it clear that its current interest lies only in selling its vehicles in India, not in manufacturing them at the moment.

MOIL, a miniratna government manganese ore mining company, on Tuesday said it has registered highest-ever May performance, reflecting strong operational momentum.

The company recorded 1.71 lakh tonnes of manganese ore production in May, registering an impressive 18 per cent growth over the corresponding period last year.

This marks the highest-ever production for the month of May and the fourth-highest monthly production since inception.

Additionally, exploratory core drilling touched 13,352 meters, reflecting a 17.5 per cent increase over the corresponding period last year -- reaffirming MOIL’s strategic push in expanding resource potential, according to a statement by Ministry of Steel.

India’s emerging diversified construction companies are expected to see steady growth in the current fiscal, with revenues likely to rise by 9–11 per cent, a new report said on Tuesday.

This follows a strong run over the past five years, during which these companies saw an average annual revenue growth of around 15 per cent, according to data compiled by Crisil Ratings.

Rahul Guha, Senior Director at Crisil Ratings, noted that government focus on infrastructure and improved access to funding are supporting the sector’s growth.

“Diversity in order books should enable these players to log another year of steady revenue growth,” he said.

The above-average monsoon is driving rural demand for the Indian automobile sector, and tractor demand maintains momentum following the good rabi harvest, a report showed on Tuesday.

Channel partner commentary signals the higher number of auspicious days for marriage and a good rabi harvest sustained two-wheeler (2W) growth momentum in May, reports HSBC Global Research in a note.

Electric four-wheeler (e4W) penetration increased to 3.4 per cent in May. Tata's market share remained at 35 per cent, with MG at 31 per cent and M&M at 20 per cent. Hyundai with its 'e Creta’ model was at 5 per cent.

Indians are among the most excited people globally about the expanding role of Artificial intelligence (AI) in everyday life, according to a report on Tuesday.

The YouGov survey, based on across 17 markets, showed that Indians (30 per cent) stand out as the most excited about AI’s growth. At least a quarter of respondents in India (27 per cent) also shared an optimistic outlook about AI.

In addition, Indians showed the highest engagement potential at 55 per cent, followed by UAE residents (51 per cent) and Indonesians (48 per cent).

Further, the survey showed that worldwide just 16 per cent of respondents feel optimistic about AI’s future impact, while 7 per cent say they are excited.

Optimism was found strongest in Hong Kong, where 33 per cent expressed positive feelings about AI. UAE residents (21 per cent) are also among the most excited about AI’s growth.

Mumbai ranks sixth globally in data centre under-construction capacity, surpassing global hubs like London and Dublin while demonstrating the city’s rapidly growing status as a data centre hub, a report showed on Tuesday.

Mumbai is emerging as a significant contributor to capacity expansion in the Asia-Pacific (APAC) region.

The report by Cushman & Wakefield said that Mumbai ranks as the seventh most established data centre market in the APAC region.

At the end of 2024, the city had 335 MW of data centre capacity under construction, which, once completed, will expand its operational capacity by 62 per cent.

Tech giant Microsoft has cut hundreds of more jobs just weeks after reducing nearly 3 per cent of its global workforce in the AI era.

As per a filing with Washington state’s Employment Security Department, 305 additional employees in Redmond, Washington have been asked to leave.

A company spokesperson said in a statement the latest headcount reduction is in addition to the 6,000 job cuts announced last month, which is roughly 3 per cent of its global workforce.

"We continue to implement organisational changes necessary to best position the company for success in a dynamic marketplace," the spokesperson was quoted as saying in reports.