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In the first half of this fiscal year, volume grew a moderate 5% year-on-year; In the second half of this fiscal year, volume is expected to rise by 8-9% year-on-year View More
Singapore-based software firm Horizon Quantum Computing has become the first private firm to deploy a quantum computer for commercial use in the city-state. View More
Inside Horizon Quantum's office in Singapore on Dec. 3, 2025. The software firm claimed it is the first private company to deploy a commercial quantum computer in the city-state.Sha Ying | CNBC International Singapore-based software firm Horizon Quantum on Wednesday said it has become the first private company to run a quantum computer for commercial use in the city-state, marking a milestone ahead of its plans to list in the U.S.The start-up, founded in 2018 by quantum researcher Joe Fitzsimons, said the machine is now fully operational. It integrates components from quantum computing suppliers, including Maybell Quantum, Quantum Machines and Rigetti Computing.According to Horizon Quantum, the new computer also makes it the first pure-play quantum software firm to own its own quantum computer â an integration it hopes will help advance the promising technology."Our focus is on helping developers to start harnessing quantum computers to do real-world work," Fitzsimons, the CEO, told CNBC. "How do we take full advantage of these systems? How do we program them?" Horizon Quantum builds the software tools and infrastructure needed to power applications for quantum computing systems. "Although we're very much focused on the software side, it's really important to understand how the stack works down to the physical level ... that's the reason we have a test bed now," Fitzsimons said. Quantum race Horizon Quantum hopes to use its new hardware to accelerate the development of real-world quantum applications across industries, from pharmaceuticals to finance.Quantum systems aim to tackle problems too complex for traditional machines by leveraging principles of quantum mechanics.For example, designing new drugs, which requires simulating molecular interactions, or running millions of scenarios to assess portfolio risk, can be slow and computationally costly for conventional machines. Quantum computing is expected to provide faster, more accurate models to tackle these problems. A top executive at Google working on quantum computers told CNBC in March that he believes the technology is only five years away from running practical applications.Still, today's quantum systems remain in the nascent stages of development and pose many engineering and programming challenges. Investment in the space has been rising, however, as major tech companies report technological breakthroughs. Alphabet, Microsoft, Amazon and IBM, along with the U.S. government, are already pouring millions into quantum computing. Investor attention also received a bump in June after Nvidia chief executive Jensen Huang offered upbeat remarks, saying quantum computing is nearing an "inflection point" and that practical uses may arrive sooner than he had expected. watch nowVIDEO5:2805:28Nvidia CEO: Quantum computing is reaching an inflection pointSquawk on the Street Nasdaq listing Horizon Quantum's announcement comes ahead of a merger with dMY Squared Technology Group Inc., a special purpose acquisition company. The deal, agreed upon in September, aims to take Horizon public on the Nasdaq under the ticker "HQ."The software firm said in September that the transaction valued the company at around $503 million and was expected to close in the first quarter of 2026. The launch of its quantum computer also helps cement Singapore's ambition to be a regional quantum computing hub. The city-state has invested heavily in the technology for years, setting up its first quantum research center in 2007. Before Horizon Quantum's system came online, Singapore reportedly had one quantum computer, used primarily for research purposes. Meanwhile, U.S.-based firm Quantinuum plans to deploy another commercial system in 2026.Singapore's National Quantum Strategy, unveiled in May 2024, committed 300 million Singapore dollars over five years to expand the sector, with a significant portion directed toward building local quantum computer processors.  In May 2024, the National Quantum Strategy (NQS), Singapore's national quantum initiative, pledged around S$300 million over five years to strengthen development in the sector, with a significant portion directed toward building local quantum computer processors. watch nowVIDEO18:3118:31The race to build a practical quantum computerTech
Nuvoco, Birla, and JK Lakshmi Cement are enhancing their premium product offerings to maintain margins without raising prices. Analysts believe this strategy might be short-lived as competition hots up in the premium market segment. View More
See key triggers for Aviation stocks, tobacco shares, Exxaro, Patel Engineering, Advait Energy, Speciality Restaurants View More
Tamil Nadu-based sales tax authority drops tax of ?128.39 crore along with a penalty of ?19.25 crore for AY 2019-20, and tax of ?59.32 crore and penalty of ?59.32 cr for AY 2022-23 View More
Top five cement makers such as UltraTech, Ambuja Cement, Shree Cement, Dalmia Bharat and Nuvoco Vistas Q2 revenue grew backed by healthy sales realisations, benign costs and premiumisation. View More
Tax authorities flag turnover and ITC mismatches for AY 2019–20 and 2022–23; company says no financial impact View More
JK Lakshmi Cement announced a significant Rs 1,816 crore investment to expand its manufacturing operations in Chhattisgarh. The company plans to increase clinker production by 2.31 MTPA and cement grinding capacity by 1.2 MTPA. This expansion aims to bolster its presence in the growing markets of Eastern and Central India, aligning with its goal of reaching 30 MTPA capacity. View More
JK Lakshmi Cement on Tuesday said it plans to invest Rs 1,816 crore to augment manufacturing operations in Chhattisgarh. The company plans to increase its clinker production capacity by 2.31 million tonnes per annum (MTPA) and cement grinding capacity by 1.2 MTPA, supported by a proposed investment of Rs 1,816 crore. The MoU for the proposed investment was formally signed during the Chhattisgarh Investor Connect event held on Tuesday in New Delhi, in the presence of Chief Minister Vishnu Deo Sai. This new capacity will boost the company's ability to serve rapidly growing markets across Eastern and Central India, where demand for building materials remains high. The expansion supports JK Lakshmi Cement's goal of increasing capacity to about 30 MTPA in the coming years. "This expansion marks an important step in how we are shaping JK Lakshmi Cement's next phase of growth. Chhattisgarh has been central to our manufacturing strategy, and this investment strengthens our ability to serve Eastern and Central India with reliable, efficient capacity," JK Lakshmi Cement Deputy Managing Director Shrivats Singhania said. Live Events Over the past decade, the company has played a crucial role in strengthening Chhattisgarh's industrial landscape since establishing its integrated plant in Durg in 2015. The company has undertaken numerous initiatives, including establishing a manufacturing facility with a capacity of 1.8 MTPA of clinker and 2.7 MTPA of cement, upgrading operations with energy-efficient technologies and advanced automation, and improving logistics through enhanced rail connectivity. "Chhattisgarh continues to demonstrate strong and broad-based economic momentum, making it one of the most promising markets for cement demand in the country," Arun Shukla, President & Director at JK Lakshmi Cement Ltd , said. Shares of the company ended 0.28 per cent up at Rs 782.10 apiece on the BSE. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
Jammu & Kashmir is set to witness its first-ever auction of seven limestone blocks on Monday, a significant step under new mining reforms. These deposits, spanning over 314 hectares, are crucial for cement and construction industries. The transparent, technology-driven process aims to boost employment, industrial growth, and local revenue, contributing to J&K's economic development and the Viksit Bharat 2047 vision. View More