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Vijay Mallaya asks banks to take loan money he owe them

India’s fugitive liquor baron Vijay Mallya said that he offered to repay the outstanding amount, including interests, of Rs 9,990.07 cr that he owed to various banks. Mallya, who is fighting an extradition to India in the UK, asked banks to take the amount. He also linked the struggling of .....

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NGO demands monthly pension of Rs3000 for each single woman

The National Forum of Single Women’s Rights has urged the Govt to provide a monthly pension of at least Rs 3000 for every single woman. They also wanted to redefine the term 'single women' to bring widowed women of all ages under this category. They also demanded equal share in husb.....

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Apple and A24 partner for a multi-year deal

A24, who made "Moonlight" and "Amy" have tied up with Apple for a multi-year deal. Apple had initially wanted to do a program with celebrities like Oprah Winfrey for $1 billion. It has also announced a remake of Steve.....

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How to choose the right domain name for your business

A strong domain name will help your website attract more customers through search engines. Use a specific name that is easy to spell and to remember. Using a quality search domain search tool, check if there are other similar names already on the internet. Choose a good registrar and web hosting .....

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Rare Pink Legacy diamond sells off for a record price

Pink Legacy, a rare pink diamond, has been sold for a price of 50.3m Swiss francs at auction in Geneva. The price of around $2.6m per carat is a world record for a pink diamond. The diamond weighs less than 19 carats and it has been bought by US brand Harry Winston. The new owners have changed th.....

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Tuni Tales: Give your home an eco-friendly makeover

Handcrafted products are special – eco-friendly and captivating to the senses. Tuni Tales is a young textile company from Hyderabad that makes cute sustainable handcrafted textiles for your home needs. From cushion covers to dining mats, curtains to quilts and pillows, their produc.....

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Facebook to test dating service in Canada,Thailand

Facebook will test their dating service in Canada and Thailand. Facebook dating was first tested in Colombia in September. In Colombia, the service had included features to allow users to meet in public. In Canada and Thailand it will test a new feature called Second Look. Using this, users can h.....

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Netflix announces films orginally made from india for 2019

Netflix has announced originally India made series to be aired in 2019.  Out of 9 films 8 of them were made by local filmmakers and the ninth one was a Hollywood film set in India. Most of the films will be produced by actors Priyan.....

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Google pays Mastercard to know what users buy offline

It is not only your location that Google tracks but it has also an eye over what you buy. Google is reported to have engaged in a deal with Mastercard to know what users buy offline. However, neither of the companies announced it publically, reports said Google has paid Mastercard millions of dol.....

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Foodpanda to increase order volume, hires 60000 deliverers

Foodpanda, the mobile food delivery company is hiring 60,000 riders for delivery for its proposed plan to increase the order volume, reports said. It said that it would use technology and logistical expertise of Ola for an all-in-one and seamless service. Foodpanda India deals with over 30,000 fo.....

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US, Canada trade talks on Nafta ends without a deal

The talks between Canada and the US over the North American Free Trade Agreement have ended without reaching a deal. Talks would resume next week with the aim of finding a trilateral deal. “The negotiations with Canada are not complete,” said Chrystia Freeland, Canada’s foreign .....

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Ilham Aliyev says Azerbaijan’s carpets are world famous

President of Azerbaijan, Ilham Aliyev, says that the art of carpet weaving is Azerbaijan’s national asset. He said that carpet making in Azerbaijan has a very long history and a bright future. Azerbaijani carpets are known all over the world and showcased in museums. Their carpet factories .....

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Note ban was to make India a tax compliant society: Jaitley

Finance Minister Arun Jaitley reiterated that the real intention of demonetization was to make India a tax compliant society. He was responding to the RBI’s declaration that 99.3% banned notes were returned. He said it helped to bring more formalization, more money, higher tax revenue, high.....

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Lenovo launches ThinkPad X1 Extreme

Lenovo has added a new model to its ThinkPad family of laptops, the ThinkPad X1 Extreme. The X1 extreme has a 15 inch display with a discrete Nvidia graphics card. It has a solid outer casing and an aluminium base. The machine sports an 8th generation i7 processer with vPro. It includes 64 GB DDR.....

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‘Eminence tag to Jio on future plan was beyond rationale’

The Finance Ministry is reported to have raised serious objections in giving Institute of Eminence status to a non-existent institutes.  HRD Ministry was warned of picking a non-existent institute at least a year before. The Fin Ministry noted that the IoE status to an institute based on fut.....

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Petrol crosses Rs78 and Diesel touches a new high

Fuel prices have been rising since August 16 after the rupee spiralled down to its lowest value against the dollar. Petrol cost Rs 78. 05 per litre in Delhi and Diesel scaled up new high to Rs 69.61 per litre. In Mumbai, petrol costs Rs 85.47 per litre and diesel touched a new high of Rs 73.90. D.....

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Sensex, Nifty hit record highs

The sensex and nifty hit an all-time high on Monday before closing the market. “Global sentiment got a boost after US Federal Reserve chairman Jerome said that gradual rate hikes are now expected and China’s central bank decided to lift its official yuan midpoint by more than what the.....

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Mallya wants to return to India to regain properties: Report

The absconder liquor tycoon Vijay Mallya is reportedly finding way to return to India to regain the control over the properties the Govt confiscated. Mallya so far fought the Govt’s efforts to extradite him from UK in the UK court. However, experts say that under the new fugitive rule, the .....

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Vivo V11 Pro teaser with AI dual camera

Vivo posted a new teaser image of its model V11Pro which will be launched in India on September 6. The teaser flaunted its front and reared design. The front panel is all display with a tiny notch on top. The rear bears a glass body with a pair of AI cameras. The V11 Pro is supposed to feature a .....

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Rupee rises 20 paise to 69.71 against US dollar

The rupee recovered to 20 paise against the US dollar 69.71 in the trade on Monday early morning on an increased selling of the US currency by exporters. Weakness in the dollar against global currencies reported after the comments from the Federal Reserve chairman in support of raising rates of r.....

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Anil Ambani quits Reliance Naval Engineering’s director seat

Anil D Ambani has resigned as Director of the Company with effect from Aug 25 in compliance with provisions of Sec 165 of the Cos Act, said a company statement. It also prescribed the limit on directorships to only 10 public companies, it said. RNAVAL, largest integrated shipbuilding facility, ha.....

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Nirav Modi’s US firms found involving in fraud transactions

A US court appointed probe team has found three US companies directly involved in multibillion-dollar international fraud transactions linked to Nirav Modi. The team claimed they have enough proof to support the allegation made by Indian officials that the Nirav Modi firm, foreign companies, and .....

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Stocks trade at record high thanks to positive global cues

In the early morning trading the BSE Sensex rallied over 300 points to hit a fresh record high of 38,585.44. NSE Nifty touched life-time record of 11,651 in early session following the positive cues from global markets and smart gains in banking. All sectoral indices, led by metal, banking, consu.....

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YouTube signature devices exclude entire iPhone line up

YouTube is providing enhanced experience for signature flagship smart phone devices with features like HDR, high frame rates, 4K decoding and immersive 360 degree video. However, the entire lineup of iPhone devices has been excluded from the list of phones supporting these features. Among Android.....

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Auto companies hire women to increase gender diversity

There has been a steady increase of women workers in the automobile industry. Companies like Tata, M&M, Eicher, Hero and Bajaj Auto are taking gender diversity seriously. They are trying to increase and up skill women engineers and supervisors for shop floor roles. Their inclusion has led to .....

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Mundra named independent director of Indiabulls HF

India’s 2nd largest housing finance company Indiabulls Housing Finance (IBHFL) has appointed S.S.Mundra as an independent director. His term of office is for 3 years till 2021. A veteran banker with over 40 years of experience, he has served as the former Deputy Governor of the RBI. He will.....

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Economic growth best under Congress, says Chidambaram

Former finance minister P Chidambaram took a dig at the NDA regime, stating that three finance ministers are handling the economy at present. He said the average growth rate under the UPA government was at 8.87% and also peaked to double digits of 10.8% in 2006-07. Refuting the claim, BJP spokesp.....

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Xiaomi launches Mi Pad 4 plus Tab

Xiaomi has launched a new Android tablet Xiaomi Mi Pad 4Plus in China. It has a 10.1 (1920*1200) inch HD display. It is powered by Snapdragon 660 chipset with Adreno 512 GPU. The device runs on Android 8.1 Oreo with MIUI 10 on top of it. In terms of memory, it has 4 GB RAM and an internal storage.....

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Israel to boost cyber security industry

The Israeli government is proposing to invest 90 million shekels to strengthen the country’s cyber security industry. Under the programme, companies dealing with high risk research will be eligible for 5 million shekels every year. Israel has about 5% of the share in the global market in th.....

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RBI rejects the means used for Kotak stake dilution

RBI rejected the means by which Uday Kotak diluted his promoter stake in Kotak Mahindra Bank. The lender insisted it was compliant with regulations. This may lead to a likely clash with the regulator as a December deadline looms. Kotak had sought to lower his stake to 20% by selling nonconvertibl.....

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Mamata lays foundation for Bengal’s ‘Silicon Valley’

Laying foundation stone for her Govt’s flagship project ‘Silicon Valley’ in New Town, the Bengal CM Mamata Banerjee has invited IT companies to the state. She termed the project as her challenge and said “If America has a Silicon Valley, Bengal must have one too.” Ma.....

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Saudi PIF denies of funding Tesla to make it private

Saudi Arabia's Public Investment Fund is reported have shown no interest of financing the US electric car maker Tesla to take make it private. Earlier, its CEO Elon Musk had announced a proposed $72 billion deal in this regard. Reports said that PIF was not involved any funding process for Te.....

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Turkey’s economic crisis worsens due to Lira’s record dip

Turkey has pledged that it would take measures to calm down the market and reduce reliance on the dollar and US markets after its Lira plunged to a new record low. President Recep Tayyip Erdo?an accused of foreign interests of waging an economic war against Turkey. lira Lost 20% of its value vers.....

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Gwynnie Bee to collaborate with Amazon Alexa

Gwynnie Bee is an online clothing subscription service that allows users to rent out clothing from over 150 brands. Along with Alexa it is offers members an interactive unboxing experience. The subscribers will be turned into characters from a story told by Alexa, which demonstrates the scenarios.....

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Samsung declares winners of the GSA Program

Samsung announced Hexpressions, Ziroh Labs and Olly Credit as winners of the Global Startup Acceleration Program. This is conducted by Samsung in partnership with the IIIT-B to mentor start-ups across 4 countries. Samsung employees have been mentoring 20 start-ups for the past 2 months. The winne.....

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Starbucks looks for greener choices to sustain with nature

For Starbucks, the US-based coffee chain sustainability is a focussed endeavour globally as well as in India, says Veetika Deoras, marketing head at Tata Starbucks. She says the company is committed to looks for greener alternatives, no matter how much costs attached to them. “We are more f.....

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Hospital chain making name in healthtech

Dr. Dharminder Nagar, MD of Paras Healthcare, thought of Indian healthcare’s accessbility only to the rich and those in the metros, even though India is at par with the world’s best. He started Paras Healthcare to deliver quality tertiary care to the middle class. It is established on.....

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Govts must spend more money on education and health

The government spends more money on running the government-owned public sector banks in India, which have made losses in 3 out of the last 4 years. These banks have been accumulating a total bad loans more than Rs10 lakh crores. It is high time they spend more money in the health and education se.....

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Doug Field returns to Apple Inc to head project Titan

Doug Field, the former senior vice president of engineering at Tesla Inc is returning to Apple Inc. He had been with Tesla for 5 years before he quit the company in July. He will work along with Bob Mansfield, who has been heading Apple's self-driving car program called Project Titan. They ha.....

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Auto Cos offer variants to tap major share of women customer

Car makers are reportedly giving more focus on designing cars that appeal to women, who comprises one fourth of total car customers. Manufactures offer women-friendly variants, based on safety, security, durability and convenience. They say it is a segment set to grow exponentially in the future .....

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FB pages in US with large audience need to be authorised

FB has launched page publishing authorisation for user accounts with a large audience in the US. The owner has to complete an approval process to continue posting making it difficult to manage pages using a fake account. It will also add primary country location and Page merge details to the Page.....

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World Bank to issue bonds using blockchain technology

The World Bank is reportedly planning to issue bonds using blockchain, a digital mode of transaction. The Bank is looking to have an experience in blockchain transactions, which it believes, could lead to a golden future for financial services for developing nations. It said blockchain could impr.....

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Turkey Lira plunges as US doubles tariff on steel, aluminium

The already ailing Turkish Lira further went down after Donald Trump doubled US tariffs on Turkish steel and aluminium. The relationship between the two countries was not in good following the arrest of a US pastor in Turkey. The Turkish lira plunged by more than 20% against the dollar. Turkey al.....

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US securities regulator may probe into Tesla’s CEO’s claim

The US securities market regulator is reported to have decided to investigate into Tesla’s CEO Elon Musk’s claim of having fund to make the company private. The Securities and Exchange Commission is making inquiries for documentation to back up Musk’s claims. If Musk’s cla.....

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SBI integrates MOPAD for smooth payment transactions

State Bank of India has launched the Multi-Option Payment Acceptance Device in view to provide digital convenience to customers. The system offers customers a platform for doing payments through credit or debit cards, Bharat QR, Unified Payments Interface and SBI Buddy at a Point of Sale terminal.....

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Jet Airways may axe 500 ground personnel to survive crisis

Financially ailing Jet Airways is reported to have decided to cut its staff so as to survive the situation. Report said that at least 500 of its ground services staff will be getting notices to leave the company apart from rationalizing its cabin crew on its Boeing and Airbus fleet. It had also d.....

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IMF asks RBI to tighten monetary policy to reign inflation

IMF suggested the RBI to tighten the monetary policy in order to tackle the rising inflation, mainly because of increasing crude oil. IMF forecasted an average rise of inflation by 5.2% in 2018/19 in accordance with the weak rupee and higher oil prices. The proposed measures would increase the in.....

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Remarkable increase in girl students in IIT-BBS

IIT Bhubaneshwar saw a rise in the number of girls seeking admission this year. Last year, the number which was around 9% has increased to 15% this year. To reduce gender gap and equal access to education for girls, it has introduced 22 supernumerary seats across B.Tech courses. MHRD has decided .....

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Foreign students to be allowed to work part-time in China

China may allow foreign students to take up part-time jobs to make its educational system more attractive. According to official figures, about 4.42 lakh foreign students from 205 countries have studied in Chinese educational institutions in 2016. The rise in foreign students may be a part of its.....

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Banks collect 5000 crores as penalty from its customers

Many public sector and private banks in India collected an estimated amount of Rs 5000 crores from its customers as a penalty for not maintaining the prescribed minimum balance in the year 2017-18. State Bank of India is pack in penalising its customers.  According to RBI norms, banks are al.....

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Bank credit surged by 12.4%: RBI data

Bank credit grew by 12.44 per cent to Rs 86,13,164 crore in the fortnight to July 20, s per RBI data. In the year-ago period, bank credit had stood at Rs 76,59,898 crore. Growth in advances was marginally lower than the increase registered in the fortnight to July 6, when loans increased by 12.78.....

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Sitharaman urges Indian startups to develop drones

Defence Minister Nirmala Sitharaman has asked Indian startups to develop unmanned drones capable of carrying and firing missiles. Sitharaman said that drones are fast becoming a massive asset for armed forces around the world and that Indian armed forces should not be left wanting. She urged Indi.....

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China plans to slap tariffs on $60bn worth of US imports

China has announced plans to slap tariffs on $60bn worth of US imports in retaliation for US actions, worsening trade enmity between the world’s two largest economies. It was made in retaliation against the US decision to place tariffs on $200bn of Chinese goods. It said 5,207 goods importe.....

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Japan’s stock market overtakes China as world no two

The Chinese stock market which was the world’s 2nd biggest stock market has lost its spot to Japan. It is mainly due to the threat of a looming trade war with the US and slowing economic growth. Data from Bloomberg News, showed that the everyday stock value had slipped behind to USD 6.09 tr.....

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Swiggy acquires on-demand delivery company Scootsy

Swiggy has acquired Mumbai based on demand delivery start up Scootsy. With the acquisition, Swiggy plans to use Scootsy’s restaurant network to expand to newer cities. The deal was closed at $ 10 mn and will continue to run as an independent firm. Scootsy focuses on premium restaurants, bak.....

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Tesla stocks soar with investors love positive cash comments

Tesla Inc. shares jumped more than 12% on Thursday after the company convinced investors on ability to yield positive cash flow and profit. Its CEO Elon Musk apologised for his past incendiary remarks too. The stock added about $6.27Bn in market capitalization and gave the cmpany a valuations of .....

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Apple becomes world’s first trillion-dollar valued company

Apple’s market valuation surged past the $1 trillion point on Thursday, the first time in history a company has reached that level. Shares surged 2.5% in the afternoon but then fell back, taking the valuation back to $988bn. The share price closed at $207.39 meaning that the company finishe.....

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Jacqueline Fernandez is Mojostar’s brand ambassador

Jacqueline Fernandez has unveiled the new collection from Just F, owned by Mojostar. It is mainly intended for modern Indian women, keeping their body sizes in mind. It offers a wide range of active wear outfits, curated and designed by Jacqueline herself. They aim to democratise modern active we.....

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Mobile-focused marketing on a rise

According to a report by Facebook and KPMG, 7-10 mobile-focussed marketing is on a rise in India, creating a USD 110 billion sales opportunity by 2022. The marketing initiatives driven via mobile platform are expected to influence two in three apparel purchases, amounting USD 66 billion opportuni.....

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Birla and Deveshwar appointed as independent directors of AI

Kumar Mangalam Birla and Y.C. Deveshwar are appointed as the non-official independent directors of Air India for a period of 3 years. Mr Birla heads the Aditya Birla Group and Deveshwar is the chairman of ITC. Other appointees are Shyamvir Saini for NSCL, Gurmohinder Singh for BEML, Arun Tandon f.....

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Sony launches Soundbar Home Theatre system

Sony India has added a new sound bar to its line up of home theatre systems. It comes with an exclusive India sound setting claimed to deliver crisp and powerful sound. The speaker enclosures are high-volume boxes. It has 2 front and 2 rear tweeters and sub-woofer. It has both analogue and digita.....

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Delhi businessmen arrested for evading tax

Two Delhi-based businessmen have been arrested by GST officers for evading taxes worth 201 crore. They fraudulently issued invoices of input tax credit without supplying the goods. According to Finance Ministry Officials, two Rohini- based businessmen from plastic granule industry were involved i.....

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Samsung launches Galaxy On8 (2018)

Samsung has launched the latest iteration of Galaxy model to its stable of smart phones Galaxy On8 (2018). This model is the successor to the original On8. Its sports a 6 inch HD+ super OMOLED infinity display. The device runs on Octacore snapdragon 450 chipset. It has an in-built RAM of 4GB and .....

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Facebook detects plot to influence midterm US polls

Facebook has unearthed a sophisticated plot that could be trying to influence the upcoming US elections. Over 30 Facebook and Instagram pages were shut down because they were suspected of being part of the campaign, it said. Dozens of fake accounts are apparently being used to try to influence th.....

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New GST forms ensures hassle free return for small taxpayers

New GST return forms are seemed simple as the Tax Department avoided many columns asking for information difficult to be provided by small taxpayers. The department also extended quarterly-returns facility for over 90% of the taxpayers.  It also allowed nearly 30-40% taxpayers who declare &l.....

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GST impact on inflation likely to be marginal: IIM-A report

The GST will unlikely to make significant impact on the inflation measured in terms of Consumer Price Index, said a report prepared by IIM-A professors. However, the costs of housing transport and communications sectors may rise marginally, it said. The report also said that people are unlikely t.....

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Claire’s outlets hold closing down sale; flat 75% off

DLF Brands is shutting down the Indian store network of the women’s accessories brand Claire's as the American brand filed for bankruptcy in May this year. There is a flat 75% off sale at Claire's outlets in India. Claire’s hopes to compete the Chapter 11 process by September......

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MG Motor partners with IIT-Delhi to improve child safety

MG Motors has announced a partnership with IIT-Delhi to develop technologies and apps to enhance in-car child safety. They are currently working on a geo-fencing application, which will track and alert whereabouts of their children travelling in an MG car. It is also promoting innovation among st.....

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Apple remains as a single company with $1tn market value

After a long time, Apple has overtaken Amazon to be an only company with a $1 trillion market value in the world. Experts said Apple would not sink with its $939 bn value, which remain highest-valued private company on global markets. Apple is likely to cross the $1tn mark after it releases its q.....

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Chidambaram says Govt 'incompetent' in economic terms

Calling the Central Govt’s economic reforms 'incompetent,' Senior Congress leader P Chidambaram said "we are now worried what will happen in the next eight months." He termed the introduction of the GST and demonetisation as incompetent.  The Govt would lose its self-.....

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Facebook share value dips over slow user data growth

Facebook’s value plummeted $119bn yesterday, the most share price decline of any company in US stock-market history. Investors frantically sold Facebook shares after they were informed that user growth had slowed in the wake of Cambridge Analytical scandal. It pushed the firm’s price .....

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Imports from China spoils Indian manufacturing : Report

Most of India’s factories and production units are reportedly shutting down and cutting their production because of imports from China, a report said. The Standing Committee on Commerce warned that India is threatened to become a country of importers and traders. It suggested the Govt to pr.....

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Chinese entrepreneur embeds AI with sex dolls

Amid China’s upsurge to become an artificial intelligence powerhouse, Chinese entrepreneurs are utilising the vast potentials of AI in making sex dolls. Even though, AI powered sex dolls are available in the market, AI features on the dolls are still very basic. The doll features ranges fro.....

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Zero tariffs: US and EU strike a deal to avoid trade war

The US and EU have agreed to work on in creating an environment of zero tariffs, barriers and subsidies. The move appears to have diminished the prospect of a prolonged trade war between the two groups. Trump and the EU President Jean-Claude Juncker also agreed to increase trade in services and a.....

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Facebook gets permission to set up office in China

Facebook is reported to have acquired the licence for setting up an official hub in China. It said that in China it wanted to set up an innovation hub to support Chinese developers, innovators and start-ups. China is the world's biggest social media market, but access to websites such as Twit.....

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Black money in Swiss accounts slipped by 80%: Piyush Goyal

Black money deposited in Swiss National Bank has come down by 80 per cent after Narendra Modi Govt came to power in 2014, Union Finance Minister Piyush Goyal said in Rajyasabha. He added that the figures published by Swiss National Bank are regularly mentioned in the Indian media without taking i.....

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Ayesha Accessories to ramp up operations in Tier II cities

German born Jacqueline Kapur launched Ayesha Accessories in the 90’s. She was responsible for merchandising of Casablanca and starting the garment division of Hidesign. The brand offers quirky, trendy accessories for both men, women and kids. It currently has 70 outlets and plans to open 20.....

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Neerja and Bharat Desai sell Syntel to French IT major

Indian-Americans Bharat Desai and Neerja Sethi have sold their IT services company Syntel to French IT major Atos for $3.4 billion.  The duo together held a 57% stake in the company, which means they will receive nearly $2 billion from the deal. Syntel, which had $923 million in revenue in f.....

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UK MPs condemns decision to hand-over ISIS fighters to US

Senior lawmakers in the UK Parliament have condemned the Govt decision to hand over ISIS fighters to the US to face death trial. Furious MPs turned on Ministers who said no assurance of no-execution has demanded in return for handing them over. They said the UK would be guilty of arrant hypocrisy.....

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Modi to inaugurate projects worth Rs 60,000 crore in UP

In an attempt to improve the image of UP ahead of next year’s general elections, the PM Narendra Modi is reported to be inaugurating projects worth Rs 60,000 crore. He will inaugurate 57 projects under Atal Mission for Rejuvenation and Urban Transformation scheme, 26 projects under Smart Ci.....

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Australian women break ground in blockchain sector

White men dominated the tech sector for a long time. But when it comes to blockchain, an emerging group of female entrepreneurs are leading the way, not just in Australia, but globally. Aussie entrepreneur Leanne Kemp's blockchain start-up Everledger was named by World Economic Forum as one o.....

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Indian start-ups revolutionizing Vegan food

Indian Vegan food start-ups are on the rise and is hatching onto the rise in demand for vegan food. Goodmylk manufactures  delivers coconut-based milk across the country and can be ordered online. Sain sells almond milk in a variety of flavors from cardamom, caocoa, vanilla etc. Good Dot is .....

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Walmart to open 30 retail stores next 3 years in India

The US Retail major Walmart is reported to be planning to open wholesale cash-and-carry stores in the next three years in India. “We would launch two stores this year, eight stores next year and 10 stores a year after that,” said Walmart India President and CEO Krish Iyer. It has plan.....

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Snapchat to remove its payment feature ‘Snapcash’

Snap chat is reportedly shutting down its peer to peer payment feature called Snapcash on 30 August 2018. It was the first product created in partnership with another company Square TechCrunch reports that a PR crisis is a reason for the closure. Snap chat is also introducing a product called .....

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Work visa rejection to escalate costs and delay: Infosys

Infosys said that the rejection of work visa applications may result in escalation of project costs and delays for its clients. As a measure to tackle this, it is ramping up its local hiring. Scrutiny of temporary work visas in the US and Australia has led companies to tweak their business models.....

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IT files case against Sonia Mehta for not disclosing assets

The Income Tax department has filed a case against Sonia Mehta for not disclosing immovable foreign assets of $210 million, or Rs 1,450 crore. She is the wife of Jatin Mehta who is the promoter of Winsome Diamonds and Jewellery Ltd, which is reportedly the country’s second largest wilful de.....

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US trade policy is based on law of the jungle: French FM

French Finance Minister Bruno Le Maire compared the US trade policy of imposing unilateral tariffs to “the law of the jungle”.  He warned that a trade war is a reality now. “The law of fittest could not be the future of global trade relations, he said. Defending tariffs US .....

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No exit payment if there is no trade deal: UK to EU

The Brexit secretary, Dominic Raab has noted the Article 50 of withdrawal mechanism that there should be a trade deal between UK and EU. He said the UK could refuse to pay £39 billion exit bill to Brussels, if there was no trade deal. He said he was trying to convince that Theresa May&rsquo.....

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GST council reduces rates of 88 consumer-centric items

The GST Council has reduced the rates of 88 consumer-centric items, including sanitary pads, small televisions, washing machines, and refrigerators. The council also simplified the return filing process for small businesses. While GST on sanitary pads was cut from 12% to zero, rakhis were exempte.....

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Asian economies to surpass US in terms of GDP growth: Report

A DBS report has projected the growth rate of 10 major Asian economies, including India, to $28 trillion in real GDP terms on aggregate, which will be more than the US by 2030. When the collective GDP of the 10 countries witness a robust boost that amount to $28.35 tn, the US is projected to be r.....

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Kiran says women entrepreneurs have long way to go

According to Biocol MD Kiran Mazumdar Shaw, women entrepreneurs in India have not come far enough. She recently tweeted a link to a documentary made in 1989 which was based on women entrepreneurs. Ironically the documentary could have been shot today. Although the film was shot three decades ago,.....

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Apple watch and FitBit could prove to be dearer

US tariffs on Chinese goods could hit the Apple Watch, FitBit health trackers, Sonos streaming music speakers and other accessories. Companies may get over this in 3 ways, by advocating to get the code dropped from the list. Apply for an omission once tariffs are in effect or try to classify thei.....

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Investors need to invest more in Women led startups

Investors want to make returns on their investment they need to start investing in startups led by diverse founders especially women. According to financial experts, companies driven by women generate 20% more revenue with 50% less investment. They are more capital efficient, display a positive p.....

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Rupee plunges to record low of 69.12 against US dollar

The rupee plunged to record low of 69.12 against the US dollar on Friday as Chinese central bank weakened its daily reference rate for the yuan. The yuan went down further by 0.28% to 6.7943 to dollar, its most lowest in ten year due to the trade war between China and the US. Besides, weak domest.....

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Govt to bring fuel, land, electricity under GST: Eco advisor

The Govt will bring the petroleum products, land and electricity under the GST so as to make the GST base as broad as possible, said chief economic advisor Arvind Subramanian. He praised the Govt for not conceding to public pressure by not reducing excise duty on fuel when the oil prices rose to .....

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PM’s 42 foreign trips cost Rs 1,484cr since 2014

Prime Minister Narendra Modi's trips to 84 countries have incurred Rs 1,484cr on chartered flights, aircraft maintenance and hotline facilities since 2014 to June 10, 2018. Minister of State for External Affairs VK Singh shared the details in the Rajya Sabha. PM visited a total of 84 countrie.....

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Kenneth Cole ties up with Brandzstorm India

Kenneth Cole, the US based clothing brand has partnered with Mumbai based Brandzstorm India for designing, manufacturing, distributing and retailing its products in India. It plans to open two flagship stores in Mumbai and Delhi by the end of this year.  They plan to open ten stores in India.....

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Truck owners start to observe indefinite strike from today

Truck operators across the country have started observing indefinite strike from today demanding a slew of actions, including cut of diesel prices and toll fees. They demand reduction in Central and state taxes by bringing diesel under the GST. Unionised truckers claim over 9.3mn members and the .....

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NPCI asks banks to discontinue Aadhaar-based payments

The National Payments Corporation of India has asked banks to discontinue Aadhaar-based payments through the Unified Payments Interface and Immediate Payment System channels. Since the Aadhaar number is sensitive information, its usage in the payment landscape is still evolving, it said as reason.....

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Indian economy likely to grow faster than China

Indian economy will grow faster than China with 7.3% growth to maintain the title of fastest growing major economy, said Asian Development Bank. Increased public spending, higher capacity utilisation rate and uptick in private investment will contribute to the growth, it said. FICCI said that the.....

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‘Largest mobile factory’ hides Make in India’s struggle

India celebrated the launch of what Samsung called the world’s largest mobile phone factory. PM Modi said the facility was “extremely important” for his Make in India program. But, data from World Bank and RBI show manufacturing hasn’t received a boost since Modi took offi.....

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TRAI advice on data privacy appreciated: Aruna Sundararajan

Telecom secretary Aruna Sundararajan said that TRAI’s recent recommendations on data privacy and ownership framework are valuable and timely. She said that the Department of Telecom will look take an institutional view on the matter. TRAI has suggested rules to be put in place for the telec.....

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Walmart and Microsoft team up to take on Amazon

Walmart is teaming up with Microsoft for digital transformation. It has made this move to compete with its retail rival Amazon. The partnership focuses on using AI and other technology tools to help manage costs, expand operations and innovate faster. Microsoft Azure will help Walmart manage and .....

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Yet to be launched Jio Institute projects Rs 100cr revenue

The proposed Jio Institute is reported to have planned to garner Rs 100 crore as tuition and hostel fee from 1,000 students in its first year of operation. It is the only Greenfield institution that got the Institute of Eminence status along with prestigious institutes. It will waive Rs 38 crore .....

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Mukesh Ambani to raise Rs400bn to expand consumer business

Mukesh Ambani-led Reliance Industries is planning to raise about 400 billion rupees to expand its consumer businesses. The company will invest this year to roll out fiber-based broadband services and on acquisitions, including the purchase of telecom assets from brother Anil’s Reliance Comm.....

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IMF forecasts bright future for Indian economy

Despite high oil prices that may slightly downgrade the growth, the IMF forecasted a bright future for the Indian economy. “India’s growth remains quite robust into the future. It is down but it is growing very strongly,” Maurice Obstfeld, Economic of the IMF. But tightening glo.....

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Centre drops introduction of FRDI Bill over public anxiety

The Centre is reported to have decided to drop the introduction of the Financial Resolution and Deposit Insurance (FRDI) Bill. The Bill has invited widespread criticism and public anxiety because of the concerns over the security of bank deposits. The bail-in clause in the Bill is believed to hav.....

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Facebook alleged to give special protection to racists pages

Facebook is alleged to have shown reluctance in removing contents that are even after being reported as hate, racial and violent. A report said that far-right and racist content is given special protections that stop it being deleted quite so easily. The report came in the wake of Facebook’.....

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IMF says rising oil prices may affect India’s growth rate

The IMF has said that the rising oil prices besides the modification of the monetary policy due to soaring inflation rate will likely to affect India’s growth adversely. It has brought down its earlier prediction of growth rate to 7.3% for 2018 and 7.5% for 2019. It had predicted that India.....

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The best cities to be in if you are a woman entrepreneur

A report by Dell Technologies ranks India's technology hub Bengaluru and capital New Delhi at 40th and 49th positions respectively among 50 cities feasible for women entrepreneurs globally. Singapore is the only Asian city-state among the top 10 cities. Other Asian cities include Hong Kong, T.....

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Only users have right over their data, firms are guardians

TRAI said that the current rules pertained to personal data protections with telecom are not sufficient. It emphasised that consumers are owners of their data and the companies that controls their information are mere custodians. It also said the user should be given right to choice and, consent .....

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China’s economic growth dips amid trade war with US

China economic growth registered a decrease from its 6.8% to 6.7% in the quarter ending in June to internal credit issues amid a trade war with the US. Reports said that the economic activity may go further down due to the weak demand for the Chines products. Besides, controls on lending by banks.....

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Junior FM Piyush Goyal urges traders to expose tax evaders

Union Finance Minister Piyush Goyal has urged traders and industrialists to compete to produce and deliver quality goods and services, instead of evading tax. He also asked them to expose those who evade tax as a committed citizen. He claimed that the GST had created an honest and simplified taxa.....

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US rejects EU’s request to ease sanctions on EU companies

The US turned down the European Union’s request to exempt European companies that continue trade with Iran, from sanctions. The US made it clear that it wanted maximum pressure on Iran and said it was not in a position to exempt sanctions except in specific circumstances. The EU fears that .....

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GST practitioners form national body to raise their issues

In a bid to raise the issues related to tax and its practices at the national level, Practitioners of GST from across the country have formed a Joint Action Committee. They demanded that the compliance and filing of returns should be simplified and urged the Govt to ensure that money of businessm.....

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Health-focused restaurant chain is Oprah’s next investment

Media Mogul Oprah Winfrey has bought shares in health focused restaurant chain ‘True Food Kitchen’. This is her 3rd such food-related investment since investing in Weight Watchers in 2015. True Kitchen hopes to double the number of its restaurants to 46 by 2021, including locations in.....

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Lack of Aadhaar leaves farmers in a lurch

The loan wavier scheme of the Maharashtra government has been eluding about 2.4 lakh farmers across the state due to lack of Aadhaar cards. The government had cleared a list of 37 lakh farmers eligible for the scheme. But not many farmers had responded to the scheme due to processing hassles, one.....

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Dell summit to celebrate global women entrepreneurs

Tech giant Dell will conduct a global summit in Canada on Sunday to celebrate empowering women entrepreneurs from the world. The summit is an opportunity for women entrepreneurs to talk about issues on scaling and growing their businesses. About 200 women business leaders, founders and entreprene.....

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IT to re-asses tax returns of buyers of Nirav Modi

The Income Tax Department has decided to recheck the tax returns filed by 50 high profile individuals who had bought costly jewellery from Nirav Modi. Those who were contacted by the IT denied doing any cash transactions for purchase. However, IT had found that they had split total payment by pay.....

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Apple signs pact with LG for LCD screens for budget iPhone X

Apple is expected to launch budget iPhones X models this year with LG’s OLED displays and a budget variant with LCD screen. Apple has reportedly signed a contract with LG Display Co to produce three to four million organic light-emitting diode (OLED) screens for the next-generation iPhones......

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Indian aviation startups signs contracts with Airbus Bizlab

Airbus BizLab firms has signed contracts with 3 startups Eflight, Stelae Technologies, and Airpix Devices to come up with new ideas in aeronautical data services, flight operations, and imagery services. The ‘Take off’ programme will sponsor 2 travels to Europe in 6 months as well as .....

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India to buy missiles from Russia despite US sanctions: Min

Defense Minister Nirmala Sitharaman said India will go ahead with its proposed deal to buy S-400 Triumf air defense missile from Russia despite US sanctions. She said the CAATSA is an act of the US imposed sanction on Russia military deals which has nothing to do with the UN. She said that the de.....

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Microsoft wants laws to tame facial recognition technology

Microsoft has urged to introduce Govt regulations over the facial recognition technology that can be used for mass surveillance affecting civil liberties. Its President Brad Smith highlighted the need of creating a bipartisan expert commission to assess the best way to regulate the use of facial .....

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Apple joins hands with Malala Fund to boost girls’ education

Apple has launched collaboration with Malala Fund to promote and advance girls’ education opportunities in Latin America. The collaboration that began from Brazil will work to provide quality, safe secondary education and opportunities for girl, via 10 Apple Developer Academies in the count.....

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India to push UK behind to become 5th largest economy: FM

India will be the fifth largest economy pushing behind the UK by next year, Finance Minister Arun Jaitley expressed his hope. Thanks to the reforms that PM Modi brought in the economy, he said the country’s growth pace is likely to continue as per agencies. He also said that a high trajecto.....

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India’s trade deficit widens to record high in June

India’s trade deficit is reported to have widened to $16.6 billion in June from $14.62 billion in May. Though export witnessed a moderate growth, the trade deficit registered five years high, mainly because of rising oil prices. The oil import bill of India rose sharply with global oil pric.....

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Johnson & Johnson to pay $4.7bn as compensation to 22 women

A US court ordered Johnson & Johnson to pay $4.7bn to 22 women, who complained that they developed ovarian cancer using its talc products. Earlier, the court awarded $550m in compensation and added $4.1bn in punitive damages. J&J denied the allegation that its powder was contaminated with.....

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Soft Brexit will kill US-UK trade ties: Donald Trump

Donald Trump has warned that Theresa May's Brexit plan would kill chances of any US-UK trade deal. He claimed that any attempt to keep close ties with the European Union would make a future trade deal with the US unlikely. He said he had advised May against pursuing a soft Brexit strategy but.....

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Women are driving the Middle East digital revolution

Middle East has become the hub for next digital revolution. The region has more women in tech per capita than anywhere else in the world. Women now comprise 35% of digital entrepreneurs in the region compared to a the 10% worldwide. What led to the trend is the regions’ can-do business atti.....

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RBI, UIDAI give approval to Airtel Payments Bank to resume

The RBI and UIDAI have given requisite approvals to Airtel Payments Bank to take new customers on board after 7 months of its ordeal. Airtel along with Airtel Payments Bank were complained of opening payments bank accounts of its mobile subscribers without their consent. Airtel said it has stream.....

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Safer Pro a wrist band that aims to protect women

Leaf Wearables, New Delhi-based Company has come up with a product called Safer Pro in an effort to make India a safer country for women. A tiny computer chip built into a wristband sends the location of the wearer to emergency contacts even in areas without mobile phone service. The winners of X.....

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Employment levels fall by 50% the IT sector

Experts say that hiring of software engineers have fallen by 50% from the peak seen in 2011. This, in turn, is benefiting staffing companies that hires an employees every 5 mins. Tech companies are moving to an employment method of staff augmentation. Also, in-house data management has moved to t.....

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Banks turn against UIDAI’s diktat on IS audit

Banks have turned against UIDAI’s authorisation of Deloitte, an agency to conduct mandatory Information Security audit at a fixed high cost. Banks asserted that the UIDAI’s move has created a monopoly situation for the firm that has been empanelled. The UIDAI mandated Deloitte as the .....

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Iran vows uninterrupted oil supply to India

Amid the US-imposed sanctions, Iran vowed to ensure adequate oil supply to India by various flexible bilateral trade measures. This is a clarification note from it after it warned of taking off of special privileges to India if it cuts import of Iranian oil following US sanctions. India is yet to.....

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Trump urges NATO to commit 4% of GDP on defense

Donald Trump has urged NATO allies to double the 2% of their budget spent on defense to 4%. The demand came despite the fact the US itself spends 3.5% of its budget on defense. He also clashed with German chancellor Angela Merkel over a proposed pipeline deal with Russia. Nato leaders are pressin.....

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Telecom Commission approves internet neutrality

The Telecom Commission approved net neutrality rules which bar service providers from discriminating against Internet content and services. The Trai recommended restrictions on service providers from entering into agreements which lead to discriminatory treatment of content. It is to prevent the .....

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Fin Ministry proposes ease in RBI’ order on data storage

The global payment majors would likely be getting relaxation from an RBI direction that compels them to keep customer data locally. The Finance Ministry is believed to have proposed relaxation in this directive. It is the result of intense lobbying by US firms and trade bodies as the data on shor.....

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Centre plans to reduce tax litigation by raising money limit

The Centre has raised the money limit for challenging judgments given in favor of the taxpayers by tax departments. It has raised the limit to Rs 20 lakh from Rs 10 lakh, which was the amount the tax departments used to challenge judgements gone against them. The move is to minimize litigations a.....

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India’s 1st green supermarket refrigeration

Carbon Dioxide is making a comeback as refrigerant but with a major green quirk. Researchers from IIT-Madras presented India’s 1st CO2 transcritical system which is a multi-faceted system with all modes of operation, including supermarket, air-conditioning and heat recovery. It is claimed t.....

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India pips France to become world’s 6th biggest economy

The world’s sixth-biggest economy is now India, according to updated World Bank figures for 2017. India pushed France into seventh place to achieve this spot. India’s GDP amounted to $2.597 trillion at the end of last year, against $2.582 trillion for France. India hosts 1.34 billion .....

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Will lose privileges if cuts oil imports: Iran to India

Iran has warned that it will end the privileges given to India if it reduces import of oil from Iran. Iran also criticized the country for not fulfilling its promise of making investments in the expansion of the Chabahar port. It reminded that it has been a reliable energy partner for India that .....

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IOC warns OPEC of curb in purchase if oil prices remain high

Indian Oil Corp has warned OPEC that if oil prices continue to rise, there will be a curb in purchase. The country will have to think about alternatives such as electric vehicles and gas as more cost effective if not controlled the oil prices, said IOC chairman. He said if it continues then other.....

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World’s cheapest car Nano is no more

Tata Motors Ltd is reported to have stopped the production of Nano, the world’s cheapest car, 10 years after its birth. The production of the car last month shrunk to one unit, down from 275 in June last year. The company had already noted that the car in its present form cannot continue be.....

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Uber’s HR head Liane Hornsey quits, cites no reason

Liane Hornsey, head of Uber’s Human Resources Department, has resigned following a probe into her handling of complaints on racial discrimination. She was accused of systematically dismissing internal complaints of racial discrimination. However, she gave no reason for her resignation but s.....

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Vistara buys 19 Boeing, Airbus to extends its wings overseas

Air Vistara said that it has placed order to buy a total of 19 Airbus and Boeing aircraft worth about Rs 21,344 crore. The buying is a part of its proposed expansion plans including flying overseas. Vistara is a joint venture between Tata Sons and Singapore Airlines. At present, the airline serve.....

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US to slap tariffs on further $200bn of Chinese imports

The US said it would slap 10% tariffs on an extra $200bn worth of Chinese imports. The administration released a wide-ranging list of Chinese goods it proposes to be hit with tariffs. The move comes just days after the two countries imposed tit-for-tat tariffs of $34bn on each other's goods. .....

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Facebook likely to be fined £500,000 by UK for data breach

Facebook is set to be fined £500,000 by the UK’s privacy watchdog after it concluded the social media giant broke data laws. The Information Commissioner’s Office report said that it failed to protect users' information and then failed to be clear about how that information .....

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Trump praises US firm in which Putin’s ex-advisor has stake

Donald Trump praised American Ethane, an energy company, in which Vladimir Putin’s former chief of staff has a secret investment, for creating jobs for US workers. Alexander Voloshin, who worked for Putin between 2000 and 2003, is part of a consortium of Russian investors. Recently it signe.....

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Biocon chief Kiran Shaw calls KDA members trouble makers

Biocon chief Kiran Mazumdar Shaw has lashed out at Kannada Development Authority for opposing the Govt’s proposal to introduce English medium classes in 1,000 primary schools. She said KDA is an insignificant group of naysayers and trouble makers who don’t care about education. KDA wa.....

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China to give greater access for Indian drugs to its market

China is reported to have initiated process to give greater access to Indian drugs, particularly anti-cancer medicines, to its market. However, it is unclear whether the China has agreed to grant licences to Indian companies to sell cheap cancer medicines. Indian drugs have a big demand in China .....

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Yahoo takes back shares worth $2 bn from SoftBank

Yahoo Japan Corp is taking back its shares worth about $2 billion from SoftBank Group Corp as part of a three-way deal with its top shareholders. The deal will see Altaba, Yahoo Japan’s second largest shareholder, sell down its stake in Yahoo Japan by around $2 billion and SoftBank raise it.....

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YouTube takes steps to ensure veracity of news

Google-owned YouTube said it has taken steps to ensure the veracity of news aired on its platform thus to control misinformation. It has planned to give prominence to authoritative news sources. It would show short text previews of news stories in video search results, as well as warnings that th.....

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Twitter shares dips in mass fake account dumping drive

Twitter has reportedly expressed its fear of losing monthly active users following its mass dumping drive that removed about 70 million fake accounts in May and June. The move cost the microblogging site’s market valuation. Twitter shares were last down 8.6% at $42.62. However, Twitter decl.....

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Jio’s proposed institute awarded eminence status with IITs

Three public funded and three private institutions have been awarded with Institution of Eminence status. The Govt awarded the status to IIT-Delhi, IIT-Bombay, Indian Institute of Science (IISc), BITS-Pilani, Manipal Academy of High Education, and Reliance Foundation’s proposed Jio Institut.....

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India- South Korea agree to work on software, biotech etc.

India and South Korea are likely to sign updated Comprehensive Economic Partnership Agreement in order to boost bilateral trade. PM Narendra Modi held discussion with visiting South Korean President Moon Jae-in. Both the countries have agreed to identify research projects and programmes on softwa.....

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Modi should stop obsessing over economic growth: Jean Dreze

Economist Jean Dreze said the Narendra Modi Govt should stop obsessing over economic growth. He urged the Govt to take a broader view of what development is about. Govt is "abdicating" its responsibilities in many sectors and handing them over to the corporate and the state governments,.....

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IT firms tackle gender gap with graduate programs for women

Big IT firms are setting up graduate programmes to boost the dwindling number of women in technology roles. KPMG set up ‘IT’s Her Future’ two years ago. HP has signed up to the Tech Talent Charter, which commits employers to recruiting more women in tech. Code First: Girls, help.....

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Samsung to launch world’s biggest mobile factory in Noida

PM Modi with South Korea’s Moon Jae-in will launch the world’s largest mobile factory with the opening of the Samsung mobile plant in Noida’s Sector 81. This is a 35-acre electronics facility in the Noida plant that was set up in 1996 for manufacturing TVs in 1997 and phones in .....

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Vijay Mallya says he has not much assets in his name in UK

While maintaining that he is fully cooperative with UK enforcement court’s directions to seize his British assets, Vijay Mallya said that there not much for them to take. He said luxurious residences belonged to his children and mother, making them untouchable. However, he said he would han.....

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Dedicated parks in Telangana for women entrepreneurs

Telangana Govt said it is open to allocating additional land to the Ficci Ladies Organisation to boost women entrepreneurship in the state. The Govt allocated 50 acres of land to the organisation for setting up an industrial park. The state has nearly 200 acres of land solely for women entreprene.....

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IKEA to open their 1st outlet in Hyd on July 19

Swedish retailgiant IKEA is going to open their 1st Indian outlet, spread over 4 lakh sq.ft., in Hyderabad on July 19. The store was set up at an investment of Rs. 1000 Cr. and will employ 1000 employees and will stock nearly 7500 SKUs, a 1st for IKEA too. The store located at Madhapur will also .....

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Zuckerberg pushes Buffett behind to become third richest

Facebook Inc. co-founder Mark Zuckerberg has gained the title of the world’s third richest person, overtaking Warren Buffett. Zuckerberg’s position elevated over Buffett on Friday as Facebook shares climbed 2.4% said a report. It’s the first time that the three wealthiest people.....

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Govt to bring petroleum products under GST in phases: Adhia

Finance secretary Hasmukh Adhia said that the Govt was planning to bring petroleum products under the GST ambit in phases. He said GST Council will finalise modalities. The Fin Ministry expressed its intention to include natural gas and ATF within the purview of the GST. At present, states have r.....

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SBI expects significant part from Mallya’s UK assets

The newly appointed MD of SBI Arijit Basu expressed hope of retrieving a significant part from Vijay Mallya’s properties in Hertfordshire. A UK has given permission to seize Mallya’s property in London. Basu said that the bank had already recovered Rs 963 crore from the liquor baron&r.....

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Singapore plans fines on Uber, Grab for less competition

The Competition and Consumer Commission of Singapore has proposed to impose fines on ride hailing firms Uber and Grab. It said that the merger of two companies have reduced the competition in the market and wanted them to consider remedial measures. Uber sold its Southeast Asian market to Grab in.....

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ZTE Corp replaces top executives with new to ZTE Corp

ZTE Corp, China’s second-biggest telecommunications equipment maker, has replaced the top officials with new executives including to CEO. The move was a part of a deal the company made with the US to end a ban on US firms supplying parts to ZTE Corp. It named a former head of its Germany bu.....

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Don’t allow e-commerce firms to hold stock: Traders to Govt

Traders union said that the proposed Govt move to allow e-commerce firms to stock goods will destroy the country’s retail trade. It said it would oppose any such move that also allow e-commerce firms to make sales directly to consumers. The Govt is looking to allow FDI-funded retailers to s.....

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Men outnumber women in high-paying tech jobs in India

Indian IT companies have been boosting diversity initiatives for some time. Infosys and Wipro claim that women make up nearly half of their entry-level recruits. But when it comes to the more lucrative high-end technology jobs, women are still marginalized. Women account for less than 7 per cent .....

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The new Jio Phone 2 launched, available at Rs. 2999

The new Jio Phone 2 has been launched today by Reliance Industries Chairman Mukesh Ambani. The phone will hit the markets by August 16 this year and will be available at a price of Rs. 2999. Jio Phone 2 comes with added capabilities and functionalities. Reliance is bringing WhatsApp, Facebook and.....

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Stopping exploitation of surrogacy

India had been enjoying reproductive tourism till the government brought about a regulation that stopped international surrogacy in 2015. Surrogacy is a thriving business, where wombs are hired by those who cannot have their own biological kids. However, making stricter regulations banning the sc.....

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Jio to launch ultra-high speed ‘JioGigaFiber’ broadband net

Reliance Industries announced the launch of ‘JioGigaFiber,’ ultra-high speed fixed line broadband services for homes and enterprises. RIL chairman Mukesh Ambani said that Jio would extend fibre connectivity across 1,100 cities. He also announced the launch of JioPhone, virtually free .....

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An entrepreneur with a difference: Hema Laxman

Hema Laxman who is entrepreneur in the UAE now runs Flamingo Middle East which is a combination of wellness and lifestyle consultancy and an HR recruitment consultancy. Not doing it for commercial gains, she measures her success on the progress each student makes. Also a yoga trainer, she stresse.....

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China warns of retaliatory steps as US go ahead with tariff

As the US’ increased tariff on Chinese imports to take into effect today, China warned that it would respond in the same manner. China said it would not fire the first shot but would act on the Trump administration's tariffs on $34 billion of Chinese imports. Trump said he would further.....

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New transport law drives Uber to restart services in Finland

Cab hailing app Uber informed that it would restart its services in Finland after one year’s halt as it sees the transport law reform would benefit the app. The services were suspended for a year following the pressure from traditional taxi drivers and regulators. The reformed law that came.....

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Trade barriers began to show adverse impact on economy: WTO

The World Trade Organization, in a report, has warned that the ongoing tussle among major economies over trade would adversely affect the global economic recovery. It stated that the impact of such threat on economy began to reflect in some forward-looking indicators. The WTO’s trade outloo.....

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Alibaba’s AI based tool can generate 20000 lines of copy/sec

Chinese tech firm Alibaba is reported to have developed an AI that can write 20,000 lines of copy in a second. The copywriting tool can generate copy that can be "promotional, functional, fun, poetic or heart-warming" with a single button click.  It is now available on Alibaba'.....

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Women lose out on pay by doing more unpaid work

A report by ILO reveals that globally women spend more time than men on taking care of the elderly and children that impacts their earning and social standing. Women perform 76.2% of unpaid care that is three times more than what men do, reinforcing traditional gender roles of men being breadwinn.....

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Nike sells more WC merchandise than Adidas

Nike is competing with rival Adidas in the closely watched jersey sponsorship battle for the World Cup. Nike sponsors the outfits of Brazil, France, and England in the quarter-finals while Adidas has Belgium, Russia, and Sweden. Nike has registered better sales and stock price in comparison to Ad.....

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Indians love for electronics may widen trade deficit: Report

Indians’ new fascination towards the electronics such as smartphones, TVs etc is expected to widen the country’s trade deficit, said a report. Electronics became India’s most imported items after oil. This fascination will further devalue the already ailing rupee by costlier imp.....

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WhatsApp puts forth two-fold strategy to tackle rumours

Responding to the Govt’s letter seeking measures to counter spreading fake news, WhatsApp said it was too horrified by the terrible acts of violence. It put forth two-fold strategy to tackle the issue. It also asserted the need of working together by the Govt, society and technology. It wou.....

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Instagram to introduce ‘You're Caught Up' feature soon

Instagram will soon introduce a feature that will tell its users about the latest posts they have seen in the past two days. ‘You're Caught Up', the new feature assures iOS and Android users that there are no new posts mixed in with already-seen photos or videos from the past 48 hou.....

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Facebook scraps Moves, Hello and tbh apps

Facebook is reported to have planned to shun three of its apps, Moves, Hello and tbh, due to lower usage and also a lack of development. Since the launch of the apps, none of them have performed well and neither of them was updated in over a year. tbh was an anonymous social media app that allowe.....

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Emirates takes ‘Hindu Meal’ off menu, offers other veg opts’

Dubai-based Emirates Airlines has taken the ‘Hindu meal’ off the in-flight menu. A statement of the airline said the decision was taken following a review of the on-board products and services. However, Hindu passengers will still be able to choose between vegetarian and non-vegetaria.....

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Cryptocurrency theft increases in first half of 2018

In the first half of this year a total of $761 million worth cryptocurrencies was stolen from exchanges, said a report. The amount when it compared to $266 million for the whole of 2017 is threefold higher that associated money with laundering. The recent one in line was the theft of $32 million .....

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Industrialist Swraj Paul and Caparo comples 50 years

Industrialist Swraj Paul completed 50 years of Caparo, the company he launched in 1968 with a loan of £5,000. He is one of the richest persons in Britain. Former Prime Minister Gordon Brown paid his tribute to him and for his contributions to Britain, and for the India-UK relations. He has .....

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Facebook admits sharing users’ data with tech companies

Facebook admitted that it continued to provide users’ data to 61 technology companies including AOL, United Parcel Service, and dating app Hinge, CNET even after it had restricted it in 2015. It granted a special one-time six-month extension to these companies. It also admitted of 5 compani.....

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Economist PM left economy in an unbelievable decay: Modi

PM Modi claimed that India is the fastest growing large economy in the world with strong fundamentals. He said the Govt has strived to take the economy out of ‘unbelievable’ decay that has been handled by the economist PM and 'know-it-all' finance minister. Insolvency and Bank.....

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Amazon’s delivers to the world’s highest spot ‘Leh’

Leh is situated at 11,562 feet and is the highest spot in the world where Amazon offers delivery. Local soldiers and monks are big customers of Amazon. The company began offering doorstep delivery as an effort to serve the remotest corners of India. They ship the products via air and their local .....

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Amazon introduces Alexa skills for kids in India

Amazon has included new category of Alexa skills aiming at entertaining children below 13 years of age in India. The Alexa India Skills Store currently has over 15,000 skills. This new collection offers over 350 skills that prepare kids to challenge brain teasers and quizzes by listening to nurse.....

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IT allots Aadhaar-based instant PAN at free of cost

The Income Tax department has begun to allot PAN on the basis of Aadhar to individuals seeking to obtain it for the first time. The service can be available only for a limited period and will be served free of cost on first-come-first-serve basis for valid Aadhaar holders. It is to encourage peop.....

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FB gains patent to record users’ reactions to TV ads

Amid the security issues with the social media, Facebook is reported to be working on a patent that allows it to record users’ reaction to an ad playing on television. FB said the patent will never be included in a product. During his Congressional confession, Zuckerberg denied the claim of.....

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Formula One signs deal with Amazon to reach out to fans

Amazon Web Services has signed deal with Formula One to become the official cloud and machine learning provider. The new deal would allow the sport to make decades of archived data and content more accessible to fans and in new ways. FI official said the deal was a commercial one with financial b.....

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Modi says uniform GST rate for all is not possible

PM Narendra Modi has made it clear the impracticality of the Congress’s demand for a uniform 18% rate GST. Congress said that a uniform rate would lead to a spike in tax on food and essential items. Modi claimed that the indirect taxpayer base has registered over 70% jump within one year of.....

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Assocham pleas RBI, FM to ensure rupee’s stability

The industrial body Assocham has asked the RBI and the Finance Ministry to work on to ensure the rupee does not go down from its current levels. Further depreciation in the value of the rupee along with the rising oil prices would push the country to “imported inflation”, it said. It .....

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RIL to acquire Radisys to accelerate 5G in India

Reliance Industries has signed an agreement to acquire US-based open telecom solutions provider Radisys for $75 million. The acquisition is aimed at strengthening Jio's position in futuristic areas such as 5G and Internet of Things. Sources familiar with the deal said that the deal involves a.....

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Delivering healthy meals to your doorstep

Monica Klausner and brother Mark conceptualised Veestro because they wished to recreate simple plant-based, healthy meals they grew up eating, in a convenient and practical way for working professionals or busy moms. Veestro delivers organic, vegan meals across USA. Their frozen meals must be hea.....

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UK exports to India register significant growth: Report

Amid the issue bound to Brexit, UK’s Office for National Statistics showed that its exports of goods and services to India are rising to a record £620.2 billion. India is one of the key countries to which with the Theresa May Govt is keen to enhance trade ties to balance the anticipat.....

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Canada imposes billions dollars as tariff on US imports

Canada has imposed billions of dollars tariff on a number of products imported from the US as retaliation to the US increased duty on its steel and aluminium. “We will not escalate and we will not back down,” the Canadian foreign minister, Chrystia Freeland, said. Many of the US produ.....

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Mamata says money flies to Swiss Bank thanks to note ban

West Bengal CM Mamata Banerjee has criticized the Center Govt over the report that Indians’ money in Swiss banks has risen by 50% in the last one year. She took to twitter to write “Bravo! #Demonetization? Swiss Bank money flying. India losing,”. She said that it has happened wh.....

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Zomato started operations in 25 new Indian cities

Zomato has launched its operations across 25 new cities in India, taking the number to 63 cities. Zomato had launched its online ordering and food delivery services in May 2015. In its new app, you can see a short biography of the delivery executive and an option to tip the person. It seeks to ch.....

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Climate change may hit Indians living standard adversely

India’s GDP is likely to go down by 2.8% and the living standard of nearly half the population is expected to weaken by 2050 due to the impact of unrestrained climate change. The World Bank report on the economic impact of climate change says an inevitable 2% fall in GDP even if 2015 Paris .....

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US to bring law to curb foreign investment in US Cos

Amid the brewing trade war between the US and China, it is reported that more than 20 Silicon Valley venture capital firms have close ties to a Chinese Govt fund. However, the US Govt is planning to bring new law to curb the foreign investment in US companies, including venture investments. It wo.....

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India has adequate reserves to meet rupee crunch: DEA Sec

The Economic Affairs Secretary Subhash Chandra Garg said that the current volatility in the rupee is driven by global factors. He said the country has adequate “firepower” of foreign exchange reserves to meet the rupee crunch. The proposed US sanctions on Iran and the mismatch in dema.....

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IMF asks India to continue reforms for sustained growth

The IMF has advised India to continue the economic measures it has taken to ensure sustained growth. It asked to continue the reforms in the banking sector, con continue with fiscal consolidation, simplify and streamline GST and renew impetus on reforms. India witnessed a 7.7% growth in the in th.....

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India considers US demand of stopping oil import from Iran

India is reported to be considering the US demand that the Oil Ministry has asked to refiners to prepare drastic reduction or zero imports of Iranian oil from Nov. The US urged India to cut trade ties with Iran. Earlier, India had said that it would only recognize the US sanctions. India will be .....

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Amazon offers incentives to ensure fast, convenient delivery

Amazon has announced incentive offers to entrepreneurs in a bid to solve the challenge of getting goods the last mile to customer doorsteps. The incentives are meant to encourage them to set up their own small package-delivery businesses. It said qualified entrepreneurs could start businesses wit.....

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Trump policy driven India and China marriage of convenience

Donald Trump’s trade policies aiming at protecting US interests is being viewed as channel of overhauling strained relationship between countries, particularly between India and China in Asia. China has eased trade constraints that had been in place since a war in 1962. Last week, India als.....

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Google innvests $22mn in KaiOS to energise feature phones

Google is reported to have invested as much as $20 million in KaiOS, the operating system that is designed to bring smartphone-like smartness to feature phones. The funding is aimed to help the emerging platform reach newer devices. Besides, Google and KaiOS have agreed to make Google Assistant, .....

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Indian ads make it to ‘Glass Lions’

Four unique Indian ads made it to the 'Glass Lions' shortlist at the Cannes Lions International Festival of Creativity. SC Johnson’s #StandbyToughMoms,' Samsung’s 'Samsung Technical School - Seema Nagar,’ Johnson & Johnson’s Stayfree 'Project Free P.....

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Indian economic growth held up by stigmatized capitalism

The stigmatized capitalism was the major roadblock of India’s economic growth, said outgoing chief economic adviser Arvind Subramanian. The notion, he said that private sector could not be trusted was the reason why the Govt was not able to make much progress in privatizing PSUs. He denied .....

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Cut dependence on Iranian oil: US envoy Nikki Haley to Modi

US Ambassador to the UN Nikki Haley has urged the PM Narendra Modi to stop importing oil from Iran. She offered India help to use an Iranian port as corridor to Afghanistan. She, who is on a visit to India, also met Sushma Swaraj and discussed ways to deepen the Indo-US strategic partnership and .....

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PM Narendra Modi listens to concerns of Corporate India

PM Narendra Modi held one-on one-tea discussion session with some leading CEOs of the country to hear their criticism of his policies. They have expressed their concerns that the entire business community is being targeted over scams. It was initially slated for one and-a-half hours at the Raj Bh.....

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Mehul Choksi diverted Rs 4,000cr to his subsidiaries: Report

Mehul Choksi, the owner of Gitanjali Gems, has been reported to have siphoned off about Rs 4,000cr of the Rs 6,000cr from LoUs and foreign letters of credit issued by PNB. The amount has been diverted to foreign firms that are associated with him and also to buy a villa in the UAE. His firms avai.....

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Cars are going to cost more after 2020

Cars are going to cost more once the car industry adapts to the BS-VI norms in 2020 and there won’t be any huge discount on cars or 2-wheelers. This shift to adapting to clean fuel requires huge investment with a margin increase in car prices, especially diesel-powered cars and SUVs. Most c.....

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RBI asks banks to replace Windows XP with new OS

The RBI has asked all the banks to remove Microsoft Windows XP from ATMs and all systems by June 2019 after the OS was deemed outdated by Microsoft. It had raised concerns of operating ATMs on Windows XP and other unsupported operating systems. Besides upgrading OS, RBI also asked banks to implem.....

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India prefers PPP model to find fund for infrastructure

PM Narendra Modi has said that the Govt and Asian Infrastructure Investment Bank are both strongly committed to ensure the economic growth of the country more inclusive and sustainable. He said the country finds funds for infrastructure by Public Private Partnership models, Infrastructure Debt Fu.....

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Women taxi drivers of ride-hailing app takes roads in Saudi

Ever since Saudi Arabia announced the lifting driving ban on females, the Dubai-based ride-hailing apps Careem and Uber have backed the revolutionary declaration by offering more jobs to Saudi women. 70% of Careem’s customers in Saudi are women while Uber puts its equivalent figure closer t.....

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The journey of tech whiz Stewart Butterfield

The founder of technology companies Flickr and Slack, Stewart Butterfield spent the first five years of his life living on a commune in remote Canada, in a log cabin in a forest in British Columbia, where they had no running water or electricity. 46-year-old Butterfield has an estimated personal .....

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Petrol and diesel prices further reduced across cities

Petrol and Diesel prices in cities were cut for a fifth consecutive day by the oil marketing companies (OMCs). Delhi has the lowest petrol prices with Rs. 75.69 per liter while diesel rates is at Rs. 67.48 per liter. The highest recorded price is in Bhopal at Rs. 81.28. Fuel prices have been spir.....

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6900 loan recovery cells set up by PNB

The Punjab National Bank has set up loan recovery cells in each of its 6900 branches deploying 25,000 employees to recover bad loans due to the fraud involving Nirav Modi. It has also created a Stressed Asset vertical at its central headquarters, with four general managers tasked with fast-tracki.....

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First black woman directorial grosses $100 mn

Filmmaker Ava DuVernay movie ‘A Wrinkle in Time’ crossed the $100 mn that marked another milestone for black female directors. She said on Instagram that she maybe the first but will not be the last to reach this milestone. The film got a late boost and is competing with Disney’.....

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Franchise biz to grow thanks to first-time entrepreneurs

Franchise industry in India is pegged to touch around $150 billion in size in the next five years thanks to the rise in first-time entrepreneurs. A lot of professionals, especially from IT background, are choosing the franchise route to entrepreneurship in last four to five years. This helped the.....

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Illegal commercial surrogacy in Cambodia despite ban

Cambodian Police found 33 pregnant women undergoing illegal commercial surrogacy during a raid. They were carrying babies for Chinese nationals in spite of a ban on this practice in 2016. Cambodia was a preferred destination for Chinese couples after the relaxation of one-child policy. India and .....

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Kerala coir business benefits from new love for Yoga

The recent popularity of yoga has boosted Kerala’s coir business. The coir yoga mats has become a fashion statement of sorts. Out of India’s Rs 2,600-crore coir exports, Kerala accounts for 44% and a good part of the exports are coir mat products. At international fairs, there is huge.....

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New tariffs on US imports to take effect on August 4

India’s retaliatory tariffs on the US imports will come into effect from August 4. India has raised tariffs of 29 US products that worth $235 million.  However, there will be no additional tariff on Harley-Davidson bikes. While the retaliatory tariffs could have come into effect immedi.....

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Tax authority verifies Indians names cited in Panama Papers

The Central Board of Direct Taxes has promised prompt investigation into the reports of Indians, who have link to offshore, named in the Panama Papers. Chairman is said to have claimed that it has begun initial verification of new names mentioned in the documents.  It would be examined in a .....

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Akon to launch his own cryptocurrency called ‘Akoin’

The cryptocurrency mania has gripped Grammy award-winning singer and songwriter Akon. He is planning to launch his own cryptocurrency and build a Crypto City in Senegal. Akon’s cryptocurrency will be named Akoin, a deliberate pun on his own name. Apart from Akon many celebrities had backed .....

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Age of the Not Saree-Sarees

Sarees is the most ethnic of Indian outfits and is the go-to outfit for any desi events but handling the 6 yards of fabric is quite tough for the newbies. Fashion designers are coming out with ready-made sarees with a modern twist, making it chic and easy to wear. Some of them are more like a gow.....

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India joins China, EU by raising tariffs on US imports

Indian has joined the European Union and China by raising tariffs on a slew of items imported from the US. The move is in retaliation against levying higher tariffs on imports by the US. China is vowed to use a combination of quantitative and qualitative measures against the US. The EU this week .....

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Zuckerberg likely to beat Buffett to become third richest

Facebook Inc. co-founder Mark Zuckerberg is near to Warren Buffett in terms of wealth to become the third-richest person in the world. Zuckerberg, much younger than Buffett, is now worth $81.6 bn. Zuckerberg also trails Amazon’s Jeff Bezos, the world's richest person with a $144.8bn for.....

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Walmart to sell bonds to find fund for Flipkart deal

The US retail giant Walmart is offering its bonds for sale to find fund for its acquisition of Flipkart. It offers fixed- and floating-rate bonds in as many as 9 parts. The longest portion of the offering may yield around 1.1% points above Treasuries, down from initial talk of about 1.2% points. .....

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Economic Offences Wing arrests Bank of Maharashtra officials

The Economic Offences Wing of the Pune police has arrested top officials of Bank of Maharashtra for allegedly disbursing crores of rupees in loans to DSK Developers Limited. The Police said heavy loans were lent to DSK without proper procedure violating the RBI guidelines. The DSK is being probed.....

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Apple to produce children’s TV series with Sesame Workshop

Apple has signed an agreement with Emmy award-winning children’s television producer Sesame Workshop to produce multiple live-action and animated series for children. It is a part of Apple’s proposed plans to produce original TV programmes for a worldwide distribution. However, it is .....

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No clue about owners of 75% firms named in Panama Papers

The offshore firm of the Panama Papers leak did not have any clue about three-quarters of its clients when it had exposed. The firm is reportedly tried to discover its clients’ identities in the spring of 2016 as it fell under global scrutiny, a report said. There are still no records of th.....

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Not enough working women in India

Only 25% of India’s workforce comprises of women according to a report by McKinsey and Company. Gender inequality at work and in society hinders inclusivity. Indian women lack physical security and autonomy, legal protection and political voice. Efforts by the private sector and government .....

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Goldman Sachs plans to aid women entrepreneurs

Goldman Sach’s claims to reduce the gender investing gap by investing $500 million in companies owned by women entrepreneurs. The ‘Launch with GS’ program supports women by giving them access to business education and capital. The company that has only 5 women executives on boar.....

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GST increases malpractice in terms of billing: Report

A report claimed that the GST has increased the malpractice in terms of billing four times. Contrary to its objective, the GST prompted people to construction sector to indulge in ‘Bill selling’. It is a common practice among those who inflate cost of projects, it said. The practice i.....

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Airtel denies allegations of religious discrimination

Airtel has denied all allegations that have been spreading for the last days against its staff management. It said events reported have been “untrue and factually incorrect”. They taught a harsh lesion that their religious identities matter, it added. Airtel had changed its representa.....

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Lapses led in PNB led to $2 billion fraud: Internal probe

PNB's internal probe has found that a few employees were behind the $2 billion fraud. They had worked to issue fake bank guarantees over several years to help two jewelry groups - led by Nirav Modi and his uncle Mehul Choksi. However, it went undetected then due to prevalent risk-control and .....

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Agriculture budget doubled to increase farmer’s income: Modi

The Govt has doubled the agriculture budget to Rs 2.12 lakh crore to double farmers’ income by 2022, said PM Narendra Modi. He said it would increase farmers’ income by cutting input cost, fair price for the crop, preventing the produce from rotting and creating alternate sources of i.....

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Virgin Hyperloop One may invest for demo track in Pune

Virgin Hyperloop One has shown interest of investing around $450 million in India to turn its hyperloop vision into reality. Sources said the Richard Branson-backed company will invest for a demonstration track. It will invest the said amount if the Govt provide all facilities and give them the &.....

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Indian equities likely to outperform emerging markets

Macros and corporate earnings growth is expected to help Indian equities to perform well, Financial services firm Morgan Stanley said. It has showed stable macros as evidence of it. The Govt and the RBI have tried to stabilise macros since 2013 including fiscal consolidation, positive real rates .....

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WhatsApp soon be available for payment services

Facebook-owned WhatsApp is reportedly testing its online payment services that will be fully operational in weeks ahead. Over a million Indians are already testing the technology. The UPI-based payment system has an added feature of chatting and can be connected with social media platforms. It is.....

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Investors want Amazon to stop sale of Facial Recognition too

Some Amazon company investors wanted the company not to sell the powerful face recognition tool to police. They have supported the American Civil Liberties Union that lead the effort against Amazon's Rekognition product. They demand Amazon to stop selling it to Govt agencies, as they feel it .....

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P&G announces initiatives to support women in Ad field

The world’s biggest advertiser P&G is planning to equalise its workforce by hiring women directors for at least half of its product commercials by 2023. Its chief brand officer Marc Pritchard feels that it is equality that drives growth. He said that equality in economic empowerment bet.....

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Google introduces Android web messenger services

With the new Google feature, users can use their PC to send texts and viewing those, as they have received on their Android smartphone. Google has introduced a desktop browser for Android messages. To get started the Android Messages website, user has to scan a QR code using the Android Messages .....

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CBI blames Interpol for not informing Nirav Modi’s travels

The CBI has blamed the Interpol for not sharing the traveling details of the absconder billionaire Nirav Modi with it. Modi has been reported to have travelled country to country on his revoked Indian passport. CBI claimed that it was not getting information of his travels despite incorporating a.....

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Trump plans additional $200bn tariff on Chinese imports

Trump directed the US Trade Representative to prepare new tariffs on $200 billion in Chinese imports as the two nations moved closer to a potential trade war. It would be the latest round of punitive measures in an escalating dispute over the large trade imbalance between the two countries. Trump.....

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ICICI asks Chanda Kochhar to continue on leave, appoints COO

In a major management reshuffle, the ICICI Bank has appointed Sandeep Bakhshi as its Whole-time Director and Chief Operating Officer-designate. It also asked the current CEO Chanda Kochhar to proceed on leave till the completion of Videocon case probe.  His appointment as COO will be for a p.....

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ICICI board meet to decide Chanda Kochhar’s fate

The future of ICICI Bank CEO Chanda Kochhar will be decided today at the Bank’s board meeting. The board will discuss options including asking Kochhar to go on leave until an internal probe into allegations raised against her by a whistle blower is over. Replacements being considered includ.....

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Finance Min ensures meeting fiscal deficit target this year

The interim Finance Minister Piyush Goyal has ensured that the country would meet the fiscal deficit target of 3.3% in the current fiscal. He also claimed that the Govt will maintain economic stability and meet all set economic parameter. Fiscal deficit stood at 3.53% of the GDP, broadly in line .....

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President says India striving to become 5tn economy by 2025

Highlighting the investment opportunities in the country to India diaspora in Greece, President Ram Nath Kovind said that India is striving to become a $ 5 trillion economy by 2025. The first Indian president, who visits Greece in 11 years, has also envisaged that the country would be the world&r.....

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Google investing $550mn in Chinese e-commerce giant JD.com

Google is reportedly investing $550mn in Chinese e-commerce powerhouse JD.com in a bid to strengthen its presence in fast growing Asian market. The new bond will help JD.com expand beyond its base in China and Southeast Asia. There would be no new Google initiative in China where service of the s.....

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Apple signs deal with Oprah to create original content

Apple has signed a multiyear deal with Oprah Winfrey to create original entertainment programs. The plan is to tap the highly potential digital entertainment market. Apple said it would produce original programs utilising Winfrey’s ability to connect with world audiences.  No details s.....

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Apple will launch 3 new iPhones in 2018

Apple will be launching 3 new iPhones in 2018. 2 are set to feature OLED panels while one will be fitted with an LCD display to keep the cost down. The LCD version is expected to bring in more sales, which is why Apple is planning to make more LCD handsets. It is not yet known if Apple will count.....

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India to hike duty on specific US imports

To counter the impact of high US tariffs on certain steel and aluminium products, India proposes to raise import duty on 30 products. The products range from motorcycles, iron and steel goods, boric acid and lentils. In May, India had proposed to raise duties by up to 100 % on 20 products such as.....

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NITI Aayog meeting will take key decisions: PM

PM Modi said that the 4th governing council meeting of the NITI Aayog will discuss the execution of key policies in various sectors. It will include steps taken to double farmers' income, progress of flagship schemes, development of districts and 150 birthday celebration of Gandhi. It will al.....

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30% Indian companies are facing threat of closure

Nearly 25-30 per cent Indian companies are under threat of losing their registration. The companies with zero turnover during the last two years are facing the threat of closure. The Govt is planning to use provisions of Section 248 of the Companies Act to proceed against the "dormant compan.....

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India retaliates to the US imposition of duties

In retaliation to the Washington's move to impose higher duties on Indian steel and aluminium exports, India decided to suspend concessions on 30 products originating from US. In a letter to the WTO, it was specified that notification was made in connection with safeguard measures imposed by .....

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Tourism takes a new leap in NZ, tax will be imposed

Tourism has been on a surge in New Zealand, which has impacted costs and availability of publicly-provided infrastructure, according to tourism minister Kelvin Davis. So, a tax of NZ$25-35 would be imposed on international visitors from the middle of next year while price hikes for immigration fe.....

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Court rules notice served by banks via Whatsapp as valid

A notice about a litigation served by bank or the concerned party via WhatsApp is valid, the Bombay HC ruled. The rule affects those who defaulted on their loan or credit card payment and are evading the bank by not receiving their calls or changing residence. The court ruled valid a Whatsapp PDF.....

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Trump imposes 25% tariff on $50bn of Chinese goods

Trump has announced a 25% tariff on $50bn of Chinese goods accusing China of intellectual copyright theft. With China’s retaliation with a similar-sized set of levies, it became clearer that the two economies are on the edge of a possible full trade war. Trump said the US’s trade rela.....

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TCS buys back it shares worth Rs 16000cr

The TCS, India’s one of the biggest IT services, has approved a proposal to buy back its shares worth Rs 16,000 crore. It was successful in regaining shares of the same amount in last year. It proposes to repurchase 7.61 crore shares at a price of Rs 2,100 each. The offer represents 1.99% o.....

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IMF’s Christine Lagarde warns against Trump’s trade tariffs

IMF said Donald Trump’s new tariff policy and its impact could be damaging to the global trading system and the US economy. IMF Director Christine Lagarde urged countries to not understate the larger economic toll that retaliation from trading partners like Canada and Germany could bring. U.....

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Vegan leather threatens cow leather market

In the recent years, there has been a shift in consumer attitudes in wearing leather made from cow hide to those made with plastic, mushrooms, pineapple, micro-fibre and canvas. According to experts, younger consumers are on the forefront in rejecting real leather. Moreover, the quality of imitat.....

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Refund for cancelled ticket may force Airlines to hike fare

The Govt proposal to refund customers for cancelled tickets within 24hrs may force airlines to hike fares. They may hike the fares across the board by a few hundred rupees. The move will help them offset a possible revenue dip from the refund. The plan for full refund will hit the pricing strateg.....

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No chief statistician, India’s economic data at risk

Gathering reliable economic data in India has become a challenging process because the chair of the country’s chief statistician  has been vacant for more than four months. TCA Anant retired from the Central Statistics Office on Jan 31. Though the government has been looking for a repl.....

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Indians prefer London tech Cos for investing: Report

‘London & Partners’ data shows that Indian entrepreneurs prefer London technology sector for investing. London has attracted more investment projects from India than any other major European cities, it said. London's tech companies have attracted over 4 billion pounds of inves.....

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Microsoft works on tech to develop automated retails shops

Microsoft Corp is reported to be working on developing a technology that it believes eventually eliminates cashiers and checkout lines from stores. The new technology is intended to help retailers keep pace with Amazon Go, a highly automated grocery shop. It has shown sample technology to retaile.....

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RBI conducted no research before banning cryptocurrencies

In a reply to an RTI query, RBI said it does not have an internal committee that monitors virtual currencies. In the response RBI mentions that it conducted no research or consultation before the implementation of restriction on virtual currencies in April. The central bank also said no committee.....

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Embrace diversity, move ahead: potentials of diversity

The economy is seen embraced the gender diversity realizing its extensive benefits in business. Reports show that companies that prefer diverse and inclusive cultures are reviewed more innovative and very responding to changes than companies that don’t prefer diversity.  More participa.....

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Tesla lays off 9% of workers in a bid to post a profit

Electric car maker Tesla is laying off about 9% of its workforce from its salaried ranks in a bid to deliver a profit in the second half of the year. In an email to workers, CEO Elon Musk said the cuts amount to about 9% of the company’s workforce. The move is part of an organizational rest.....

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Countries where women outnumber men in having bank accounts

Only these countries-Argentina, Georgia, Indonesia, Laos, Mongolia, and the Philippines-in the world where women outnumber men in having bank accounts, a World Bank report says. But women continue to lag behind men with a gap of 7% points since 2011. In India, the gender gap has declined to 6% wh.....

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US agrees deal to sell Apache choppers to India for $930mn

The US is reported to have agreed a deal to sell six AH-64E Apache attack helicopters for $930 million to India. Besides, the deal includes night vision sensors, GPS guidance and Hellfire anti-armor and Stinger air-to-air missiles. US arms, aviation and engineering giants Lockheed Martin, General.....

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Hackers loot $10 million from Bank of Chile

Cyber hackers are reported to have looted over $10 million of Bank of Chile and carried mainly to Hong Kong. The bank, however said that no client accounts had been impacted. Using the global SWIFT bank messaging service, hackers done a series of fraudulent transactions before it was spotted by t.....

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Middle class boom: India now a haven for equity investors

Equity investors are worried over central banks sacrificing growth to safeguard their currencies in the midst of a looming trade war. However, India has become a haven for equity investors. India enjoys relative insulation from external shocks as a booming middle class delivers enough domestic d<.....

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ICICI says no information on US regular’s scan on its chief

ICICI Bank has made it clear that it does not have any information that it was under the scanner of the US markets regulator. ICICI told the BSE that it has not received any official communication from the SEC related to it. BSE had sought clarification from the bank on reports that its MD Chanda.....

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Nirav Modi flees to UK seeking political asylum

Nirav Modi, fugitive billionaire jeweller who is wanted for a 2bn fraud case in India, is reported to have fled to the UK seeking political asylum. He is reportedly approached the British Govt claiming asylum from what he calls political persecution. India’s law enforcement agencies will ap.....

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World Economic Forum finds women trailing behind men

The WEF has found that women don't just trail men when it comes to making money in many developed countries; they're even farther behind when it comes to pensions. The gender pension gap is more than 35% in Europe and US and it is expected to reach $400 trillion by 2050. Reason listed is .....

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Violence costs India's GDP over $1 trillion: Report

Indian economy suffered a loss of USD 1.19 trillion, which is over Rs 80 lakh crore, in 2017 in constant purchasing power parity terms due to various incidents of violence, as per a report. This figure amounts to roughly USD 595.4 per person. Violence impacted USD 1,190.51 billion to the Indian e.....

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India emerges as Airbnb’s key market after China, US

India has emerged as one of the top three most important markets for Airbnb after China and the United States. The $31-billion worth company is planning to build its domestic infrastructure and increase its presence in India. The home-sharing startup is in the midst of drawing up a long-term plan.....

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Central Tax dept collects Rs7000cr GST refunds of exporters

The Central Indirect Taxes and Customs informed that exporters have settled their pending GST refunds amounting over Rs 7000cr in the first 9 days of the ongoing special refund fortnight. The special fortnight has been organised to fast track clearances of nearly Rs 14,000cr refunds of exporters .....

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Azim Premji’s son Tariq enters Wipro Enterprises board

Wipro Chairman Azim Premji’s son Tariq has been appointed to the board of Wipro Enterprises. Premji and his elder son Rishad are already on the board. With this, the Premji family holds half the number of seats on the board. Wipro Enterprises makes soaps such as Santoor and builds aerospace.....

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Hyundai reinterprets the SUV

The Le Fil Rouge concept of Hyundai made its debut at the 2018 Geneva Motor Show. The concept car highlights a design direction under the theme, 'Sensuous Sportiness'. The HDC-2 Grandmaster reinterprets Hyundai's design, through harmonization of proportion, architecture, styling and t.....

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Amazon launches its voice-controlled streaming Fire TV Cube

Amazon has launched its new voice-controlled streaming device, Fire TV Cube. It allows viewers to switch between streaming services like Netflix and regular cable channels with voice commands. It can also do typical Alexa tasks like fetching the weather even when the TV is off. The Cube will be a.....

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Gurugram Engineer earns four lakhs by Pearl Farming

Vinod Yadav, a resident of Gurugram took up to cultivating pearl in 1/5th acre of land in his hometown village of Jamalpur. He was introduced to pearl farming by Dharmendra Singh, a district fisheries officer. The officer sent him to Central Institute of Fresh Water Aquaculture, Bhubaneswar in Od.....

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VA Sastry’s role in building a trust for Infosys staff

V A Sastry was the first non -founder board director of Infosys with added responsibility for quality and productivity. When he joined Infosys he was offered 2 percent of shares. He donated half of the shareholding back to the company in 1996.  Infosys used this to build employees benefits a.....

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Privacy setting bug makes 14mn Facebook users’ posts public

Facebook admitted that the private posts of around 14 million Facebook users were made public due to a software bug. It said the posts had automatically been made public even if users had previously restricted posts to ‘friends only’ or another private setting. Facebook has claimed of.....

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IMF hails RBI plan to increase interest rates

IMF has welcomed the RBI’s decision to increase the repo rate in the wake of rising inflation and higher oil prices. The RBI proposed increase of repo rate by 25 basis points to 6.25% has been reviewed appropriate by IMF while the exchange rate depreciation and other domestic factors play i.....

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Amazon bags right to show Premier League football matches

Amazon.com has won rights to show 20 English Premier League soccer matches, a season from 2019, giving its Prime Video service a foothold in the most-watched sports league. It has secured one of two previously unsold three-year packages for UK rights, the Premier League said, with BT picking up t.....

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India’s biggest retailer to start doorstep delivery of milk

Indian retail giant Future Group is planning to start doorstep delivery of milk and egg. Milk will be delivered to the customers’ home every morning through 1,000 outlets under the group’s brands like Easyday, Nilgiris and Heritage. The move will offer fresh competition to milk-delive.....

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Armed robbery at Central Bank branch

A Nationalised Bank was robbed at gun point by armed miscreants in the Hooghly district of West Bengal. Four men, who barged into Central Bank of India, escaped with Rs. 12.5 lakhs. There were only few customers inside the branch since it was lunch time. They fired several rounds in the air, hold.....

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Patanjali food park project gets assurances from Adityanath

Uttar Pradesh Chief Minister Yogi Adityanath has directed officials to expedite the process for setting up of Patanjali’s proposed food park in the state. The company had said it was pulling out from the Rs 6,000-crore project due to non-cooperation from the state government.“The form.....

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Amazon’s progress in India energising: Jeff Bezos

Amazon Founder and CEO Jeff Bezos described the company’s progress in India within 5 years of operations as "energising". "The progress is energising...We're five years into our journey but as we say here at Amazon, it's still Day 1, and I'm energised and humbled .....

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World Bank projects India’s growth by 7.3% this fiscal

The World Bank has projected India’s economic growth by 7.3% this fiscal year and 7.5% in the next, indicating to regain its position as the world's fastest growing major economy. The economic recovery, which was hit by GST and note ban, is linked to robust private consumption and stren.....

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Qatar Airways to launch India airline for domestic service

Qatar Airways CEO Akbar Al Baker told about his plan to launch a full service airline in India for domestic operations. He said it would soon move an application in this regard and the process is on track. The proposed carrier would be a full-service one and the investment would be done from the .....

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Tata Motors may stop Nano production by next year: Report

Tata Motors is reported to have plans to stop the production of its ambitious Nano car due to poor sales. Though it tried to reinvent it by GenX version fitted with automatic manual transmission, it did not boost sales. Reports say by next year it will be phased out. Nano was launched in 2009 as .....

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Mandira Bedi invests in social platform Sagoon

Mandira Bedi is the latest investor in the start-up venture ‘Sagoon’. It brings an innovative concept of Connect, Share and Earn. It is committed to building a social media platform for sharing knowledge in South-East Asia with India as its launch pad. It is certified by the US Securi.....

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NASA may outsource operations of ISS to global companies

Jim Bridenstine confirmed that he is in discussions with large companies to take over the commercial management of the International Space station.  White House had announced it would cut direct funding of the space station by 2025 amidst opposition from lawmakers. It is occupied by astronau.....

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UP denies permission to set up Patanjali’s mega food park

The UP Govt cancelled the land allotted for Patanjali’s Rs 20 billion food park project in Greater Noida. Its MD Acharya Balkrishna expressed displeasure and informed that it would lift Rs 2000cr project from UP. Earlier, the Govt had allotted around 455 acres of land for the Patanjali Food.....

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Facebook admits sharing data with Chinese companies

Facebook is reported to have confirmed its data sharing partnership with Chinese companies, which are reportedly under the scanner of the US intelligence agencies. The US Congress raised the concerns of allowing companies to access users’ friends without their explicit consent. However, Fac.....

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JD(S) withdraws candidate to support Congress’ Sowmya Reddy

Janata Dal (Secular) has withdrawn its candidate from the June 11 Jayanagar Assembly election in Karnataka to support Congress candidate Sowmya Reddy.  The party said its candidate Kale Gowda and other party workers will extend their support to Reddy. The move by JD(S) is likely to further b.....

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Amazon may boost India investment by $2 billion: report

E-commerce giant Amazon is planning to increase its investment in India by $2 billion, as per a report. The company had previously committed $5 billion in India. The additional investment may help it stave off the threat from Walmart, which acquired major stake in Indian e-retailer Flipkart in Ma.....

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Qatar Airways CEO says women can’t do his job

Qatar Airways CEO Akbar Al Baker said only a man could fulfil the requirements of his job. “Of course it has to be led by a man, because it is a very challenging position,” he said. Baker said this after taking carge as the chairman of the International Air Transport Association&rsquo.....

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India’s first micro car Bajaj Qute set to hit roads soon

With the Centre Govt’s nod, the Bajaj Qute quadricycle, India’s first micro car, is all set to hit roads soon. The report further confirms that the rollout of Bajaj Qute for the Indian market will commence in next 2-3 months after acquiring necessary approvals from Automotive Research.....

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India balances US, Russia ties by buying gas from Russia

As per the $25 billion energy deal with Russia, India has started receiving long-term gas supplies from Russia's Gazprom. While engaging in bilateral trade ties with the US, gas from Russia is the result of India’s quest for newer routes towards energy security. Oil Minister said the de.....

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Executive chairman Schultz to resign from Starbucks

Howard Schultz, 64, Executive Chairman of Starbucks will step down from his chair on June 26. Under his 4 decades old leadership, he built Starbucks into the most powerful global brands. Investors are speculating that Schultz will seek a Democratic presidential nomination in 2020. However, Schult.....

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China says door for trade talks with US open in principle

China said the door-to-trade talks is open in principle. A day before Beijing had warned that any trade and business deals reached with Washington would be void if the US implemented tariffs. The US and China have threatened tit-for-tat tariffs on goods worth up to $150 billion each, as President.....

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Walmart to open dark store in India to boost Mera Kirana

Walmart India is planning to open a new dark store or fulfillment centre in India after its deal with Flipkart. The retail giant is also planning to give a boost to its Mera Kirana programme in India, which started four years ago. Walmart will make Mera Kirana part of its main business in India. .....

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Petrol can be cheaper by Rs 20 per litre under GST

Petrol and diesel prices could give a relief about Rs 20 per litre to consumers if the prices were brought under the ambit of GST. Estimates say that there will be more than Rs 20 fall from the current fuel prices even after levying the highest rate of 28% in addition to 22% compensation cess on .....

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The basics of money management

Here are simple ways to avoid going broke by the end of the month: Do not spend money like friends, keep your budget in mind when out with pals even at the risk of sounding petty, make your own coffee, avoid buying it daily, as it adds up to a huge amount, opt for a debit card instead of a credit.....

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India to import first LNG from Russia on June 4

India will import its first cargo of LNG from Russia on June 4 as part of a long-term deal. GAIL India Ltd will bring the shipload of LNG from Gazprom at Petronet LNG Ltd's import terminal. The import will help India diversify its import basket to meet the high energy demand. India is the wor.....

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30 auditors quit from Indian firms in 2018

Many firms in India are leaving their auditing assignment scared of a backlash from regulatory agencies. This year over 30 firms resigned as auditors of companies midterm. Deloitte resigned as auditor of Manpasand Beverages after the company failed to share key data, and Price Waterhouse quit as .....

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Vijay Mallya resigns as Force India F1 director

The fugitive liquor baron Vijay Mallya is said to have resigned as director of Sahara Force India Formula One Team to seek relief from a UK HC ruling on freezing of his 1.145bn pound assets. He was said to have appointed his son Siddharth Mallya to take on his position. Mallya is fighting extradi.....

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Issue with GST to be addressed soon: Smriti Irani

Union Textile minister Smriti Irani has assured textile businessmen that issue with refund under Integrated GST would be heard at special camps being organised by the Finance ministry. She said that the previous textile commissionerate had no statistical data of the industry and a survey to gathe.....

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Plattershare connects food lovers and brands

Bengaluru startup ‘Plattershare’ helps food brands get a one-stop solution and reach out to potential customers. It actually unites customers and brands as a strong community on a single platform sharing the joy and love for food.It has over 20k registered users on its website and is .....

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Started consultancy with Rs.2Lakh, now turnover is Rs.10Cr.

Minnat Lalpuria started ‘7Vachan’ keeping mind of the role weddings play in Indian culture. It works like a wedding consultancy by facilitating ddiffrent aspects like zeroing in on a venue, hiring a photographer, cateres etc. ensuring custoemrs get the best services at cheap prices. I.....

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Now mattresses come in a box with SleepyCat

A Mumbai bootstrapped startup company SleepyCat makes orthopedic mattresses that ensure good sleep. They are vacuum packed and put in a box to be couriered easily.These mattresses also have removable covers to maintain hygiene. Cooling crystals present in the mattresses’ memory foam help re.....

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PNB plans to raise Rs 13,000 crore through stake sale

After being hit by Nirav Modi fraud, Punjab National Bank is now looking to raise Rs 13,000 crore through stake sale in subsidiaries and recovery of bad loans by September end. The bank is planning to sell stake in its arm PNB Housing Finance where it holds 39.08 per cent. It also has plans to se.....

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Samsonite CEO resigns over Blue Orca’s allegations

Ramesh Tainwala, CEO of Samsonite International SA, has resigned after an attack on his credentials and the company’s corporate governance. Blue Orca Capital LLC’s has alleged that Tainwala falsified educational credentials. It also detailed the lapses and poor corporate governance. C.....

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SoftBank to claim stake in GM’s self-driving car venture

Japanese telecom giant SoftBank is reported to have plans to acquire stake in General Motors’ self-driving car project by investing $2.25 billion. GM is said to have plans to commercialize its Cruise program in 2019 through ride-sharing. The announcement sparked a rally in GM shares, which .....

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IMF urges countries to work together to reduce trade barrier

IMF has urged the European Union, Canada and Mexico to work constructively together to reduce trade barriers amid US’s plan to impose tariff on metals. It termed US’s decision to impose metal tariff on EU, Canada and Mexico as unfortunate. IMF chief warned that it would be the poor wh.....

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Apple updates NFC tech to allow iPhones to break smart locks

Apple is reported to announce an updated Near Field Communication chip at its Worldwide Developers Conference that can break smart locks.  It is reported that it will allow even older iPhones unlock smart locks, including those of a car or an office building. The device is currently in the p.....

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Indian economy grows 7.7 percent in March quarter

India’s economy grew at its fastest pace since demonetisation. GDP rose at 7.7% in the fourth quarter of 2017-18 compared with 6.% in the same period last year, and a revised 7 percent in the quarter ended December. For the full financial year, GDP grew at 6.7% compared with 7.1% in the pre.....

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Lower income challenges of older Americans

Survey found that lower income in Americans over 50, adversely affects their health. IFICF along with AARPF, in their survey, report that 1000 participants reported struggling for nutrition and healthy physical activity. 85 % people reacted on price hike issues for food products that cause food i.....

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I-T dpt starts evaluating Walmart-Flipkart deal

I-T Department is examining Walmart's acquisition of Flipkart. Flipkart has replied to the Department's request for details of the deal with Walmart. Walmart is yet to respond to the department's request for information to determine tax liability. Assessing the tax liability crucial b.....

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Uber in talks with Waymo for self-driving partnership

The ties between Uber and Google’s self-driving unit Waymo are expected to be in good terms with Uber’s proposal to use Waymo’s technology on its ride-hailing app. Uber CEO Dara Khosrowshahi said that it is in talk with Waymo. Uber has been ordered to pay pay Waymo $245mn in sha.....

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Amazon to remove Australia from list to counter new tax rule

Amazon is reported to have plans of blocking Australian shoppers from its international websites to counter new tax rules on online purchases. The new rule demands all o line retailers to collect a 10% GST on everything bought from overseas sites from July 1. It said Australian shoppers can avail.....

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Facebook to impart digital literacy training to women

Facebook has entered into a partnership with the NCW to launch a digital literacy program to be conducted in vernacular languages, to train 60,000 women across universities in India on safe use of internet, social media and email in a year.  The pilot program will enable trainees to differen.....

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No buyer for Air India so far, deadline for bids ends today

With the deadline for submitting the expressions of interest for buying debt ridden Air India ending today, the Govt is reported to have not received even a single bid so far. Civil aviation secretary RN Choubey said that any further extension would not be given. Of the total Rs 48,781cr debt, Rs.....

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Adidas sponsors more teams than Nike in World Cup

The German sportswear brand Adidas is expected to overtake Nike in sponsoring up to 32 participating teams in the upcoming FIFA World Cup. However, it sees less financial gains due to weak economy in Russia, where festival of football takes place, it wants a global life to its brand. In the last .....

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Oil firms revise petrol, diesel rates cuts

Oil firms revised the fuel prices again stating that the previous cut was a clerical error. The revised the rates are 1 paisa a litre each for petrol and diesel respectively. Earlier, the price cuts were said to be 60 paise for petrol and 56 paise for diesel. An official said the company website .....

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Roll-out of electric cars for official use to be delayed

The Modi Govt is reported to have further delayed a proposal to introduce thousands of electric cars for official use by almost a year. Sources cited the need for building more charging points for 10000 electric cars and states being slow in taking deliveries as reasons for delay. It is an ambiti.....

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Petrol, diesel prices witness marginal dip

After 16 days of continuous hike petrol and diesel prices witnessed a marginal drop. The petrol prices have been cut down to 60 ps in Delhi and 59ps in Mumbai while diesel price went down by 56ps in Delhi and 59 ps in Mumbai. Fuel prices vary from state to state due to local taxes. Petrol and die.....

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Public banks go for 2 days strike from today

Banking services are likely to be disturbed for two days as employees of the public sector banks have given two-day nation-wide strike to press for wage revision. Withdrawal and cash deposit in the branches of SBI, PNB and BoB would be affected. However, ICICI, HDFC, Axis and Kotak would function.....

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America to impose stricter trade norms on China

Trump administration will bring in export controls on Chinese investment to limit the access of Chinese companies to US technology. It plans to levy 25% tariffs on $50 billion of imported Chinese goods. They will finalize the list of goods and publicise the restrictions on June 30. It will also p.....

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Facebook searching for new India head

Tech giant Facebook is actively looking for a perosn to head its India operation. The post’s chief attraction is the revised annual compensation at USD 2 million (Rs 13.5 crore) and stock options. Star India MD Sanjay Gupta, Tata Sky MD Harit Nagpal, Hotstar CEO Ajit Mohan and former Karnat.....

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Housewives, poor widows more prompt in loan repayments

Housewives, poor widows and small and budding entrepreneurs repay their loans promptly compared to corporate entities, based on data on Mudra loans. The Mudra Yojana reported only 4% gross non-performing asset. Some experts warn against the excitement about low non-performing asset in Mudra as re.....

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Starbucks closes stores in US for anti-bias training

Starbucks is closing more than 8000 its outlets across the US purportedly to give anti-bias training to its staff. It’s one of the measures it has taken to restore its tarnished images as a hangout, where all are welcome. The arrest of 2 black men for a brawl at one its store prompted its C.....

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Sudha Balakrishnan appointed as RBI’s first CFO

Sudha Balakrishnan has been appointed as RBI’s first chief financial officer. A chartered accountant by profession Sudha Balakrishnan was serving as the vice-president of NSDL. She is appointed for a three-year term at RBI with a monthly salary of Rs 2 lakh with housing or Rs 4 lakh per mon.....

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Ramdev forays into telecom, offers unlimited calls at Rs 144

In alliance with the BSNL, Yoga guru Baba Ramdev’s Patanjali is offering a SIM card that can be used to make unlimited calls with GB data pack and 100 SMSs with a recharge of just Rs 144. Now it can be available to its employees and officers. Post the full-fledged launch, people can avail d.....

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Uruguayan teenager gets a bug bounty of over $36,000

Ezequiel Pereira, a teenager from Uruguay is fortunate for receiving over $36,000 from Google for identifying a security bug in its system. Though he used to find vulnerabilities in Google system that was paid him but this was more lucrative than his five accepted bugs before. The bug could have .....

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Centre reluctant to cut excise duty to ease fuel prices

The Centre is unlikely to take measures to ease the burden of high petrol and diesel prices that move up relentlessly taking cues from global crude market. Reports say that the Govt hopes that there would be a decline in the global market which could ease the squeeze consumers are currently exper.....

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Talent shortage may hit major APAC economies by 2030: Study

According to Korn Ferry research, Asia Pacific faces a dearth in labour and if not addressed will have a significant impact on the economies by 2030. Talent shortage can only be overcome by combining technology along with workers having right skill sets. However, among the 20 nations studied, Ind.....

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Economic rebound is now firmly entrenched: CII

CII president Rakesh Bharti Mittal has said that the positive cues from several sectors show that the economy is on the recovery track. “The impact of sustained structural reforms is now being felt on the ground as a mammoth economy is turning around,” he added. Prudent macroeconomic .....

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Here’s what you need to know about car insurance

Motor vehicle insurance is mandatory by law and just like vehicle registration must be borne by the owner. Here are few tips you need to keep in mind when buying or renewing your insurance. The 2 types of insurance – 3rd Party and Comprehensive, and the important variables like Zero Depreci.....

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India to have 10Mn CNG vehicles by 2025: report

According to NRI Consulting’s report, India could have 1Cr. CNG vehicles by 2025, if 5k additional filling stations are added. This could provide answers to all the alternative sustainable and eco-friendly mobility questions that has been raised. This report was presented on sidelines of NG.....

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Samsung to pay $539mn to Apple for copying iPhone’s features

Samsung has been ordered to pay Apple $539 million in damages for illegally copying some of the iPhone’s features to lure people into buying its competing products. The verdict was final in a series of trials that lasted for seven years now. In 2012, Apple demanded about $1 billion but now .....

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Ixigo and IRCTC tie to boost hotel bookings

Leading travel marketplace, ixigo and the IRCTC has entered into pact to a boost ixigo’s wide range of accommodation offerings from its domestic and international hotel partners. Travellers can access hotels and compare budget and luxury hotels across prices, ratings, reviews and amenities .....

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Jaguar’s I-Pace makes global debut at Berlin ePrix

Jaguar’s I-Pace eTrophy race care will be part of the Formula E electric series starting next season. The car made its track debut at recently concluded Berlin ePrix as Formula E founder and CEO, Alejandro Agag put the electric SUV into motion across the 5 laps of the Tempelhop circuit. The.....

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Apple pays users for out-of-warranty battery replacements

Apple confirmed a Rs.3900 credit to customers who paid for an out-of-warranty battery replacement for iPhone6 or later devices between January 1,2017 and December 28,2017. Eligible customers will be contacted between 23 May and 27 June, in 2018. If customers don’t receive email by 1 August,.....

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No tax cut on fuel, Centre asks ONGC to share burden

In the wake of rising petrol and diesel prices, the Centre Govt is seen reluctant to cut the excise duty levied on the fuel. Reports said that instead of cutting taxes, Govt asked ONGC to share the burden by selling its crude oil to refining companies at below the international prices. ONGC suppl.....

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Amazon urged not to sell facial recognition tool to police

The privacy advocates have urged Amazon not to sell its face recognition tool to police that say it may accelerate a dystopian future. The camera-equipped officers can identify and track people in real time, whether they’re involved in crimes or not, they said. The tool allows police to ide.....

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Ways to make your business grow and make society healthy

Social entrepreneurship has paved way for a sustainable environment conscious corporate community and lot of companies are moving towards it. Here are ways to make your profits while bettering the environment. It should be infused in all business operations.  The staff must be in tune with t.....

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Panipat world’s ‘cast off’ capital’s bisness hangs

The West used to send their discarded winter here to Panipat to be ripped apart and reborn as cheap, warm blankets called shoddy for decades. But, the new type of Chinese fleece is threatening the business of the world’s ‘castoff capital’. The recycled blankets were used by rail.....

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Flipkart presents ‘Furnisure’ for durable furniture

Flipkart launches the sale of certified furniture called ‘Furnisure’ through its online portal. It generates a unified experience for customers by providing warehousing, delivery, and fitting of the product. It will be endorsed for durability by NABTC Labs. They will face competition .....

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Petrol, Diesel prices at new levels, Min promises easiness

The petrol and diesel prices have registered its record high in India following continues hike in crude oil price in the international market. Union Petroleum Minister Dharmendra Pradhan said that the Govt would work out to bring in easiness to the situation. He said there was nothing wrong with .....

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US negotiates with China on a trade dispute

The Trump administration said talks are on to ease a major trade dispute between the US and China. It arose after Donald Trump asked China to reduce its trade surplus with the US and indicted it of ripping the US of its wealth. Officials said that China was meeting a lot of the demands put forwar.....

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Visit to Chennai’s old Washermanpet biscuit factories

Chennai’s old Washermanpet area have around 50 factories that supply tea kadais across the city. These tea kadais are the Lala Gunda specialty or butter biscuits. These brown biscuits are priced at Rs. 1 or 2 a pice depending on the size in tea shops across the city. These cottage industrie.....

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Amazon delivery boy sets up his own business

Raghuveer Singh comes from a poor family in Jaipur. Working as a delivery boy for Amazon, travelling by cycle would tire him out and he used to often take breaks for good tea. This triggered the idea for his start-up. He along with 3 of his friends built his network with the vendors. Today he has.....

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UK raises salary to hire skilled expat workers

The UK authorities have raised the minimum salary requirements of skilled expat workers to about Rs 55 lakh. This means that visa applications showing a salary figure less than this would be rejected. However, the cap of 20,700 would not affect intra company transfers. The skilled workers include.....

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How can employers help victims of domestic violence?

Domestic violence affects productivity at workplaces too. Learn more and understand the problem that can affect anyone. Build awareness about seemingly normal abusers. Provide a supportive environment for workers. Provide training to recognize symptoms of abuse. Have policies and procedures in pl.....

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Industrial output growth slumps to five month low

India’s industrial output growth slowed to a five-month low of 4.4 percent in March, which was related to an increase in costs of mining and crude oil. A survey by Reuters had forecasted 5.9% growth in output compared with a downwardly revised 7% year-on-year increase in February. The RBI m.....

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Soaring crude oil prices a headache for India

Crude oil price in the global market crossed $70 per barrel-mark. Large importers of oil like India and China face the danger of a price rise. The consumer will feel the pinch as the major share of prices are made up of taxes and government has made no attempts to cut it. RBI is worried about the.....

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All you need to know about SBI FD Reinvestment Plan

SBI”s Re-investment plan is a variant of term deposits and has rates on a compounding basis for every quarter. It pays out interest at the time of maturity rather than paying it in regular intervals. Individuals willing to invest in this scheme can start with Rs 1,000 without any maximum ce.....

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India to be a high priority market for Siemens

Siemens says India would be the top 5 global markets in coming years. It plans to tap the $1.5 trillion prospects existing in the industrial sector in India. It owns about 22 factories that offer automation, technology, energy, healthcare, mobility, consumer products, financing and software servi.....

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Sachin Bansal bids adieu to Flipkart

In an emotional Facebook post, the Sachin Bansal, the co-founder of Flipkart, has bid adieu to Flipkart after Walmart’s acquisition. He said he would take long time off and focus on gaming and brush up his coding skills. “But I'll be watching and cheering from the outside - Flipst.....

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Vodafone plans to buy out Liberty Global's assets

Vodafone plans to buy Libertys Global’s assets by paying $21.8 billion to the company. With this, it plans to take over its competitors in the Germany, Czech Republic, Hungary and Romania. It will provide its services in cable TV, broadband and mobile services to its users. However, Liberty.....

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Walmart bags 77% stake in Flipkart at Rs 1.05 lakh crores

The US retail giant Walmart Inc has announced its $16 billion (Rs 1.05 lakh crores) acquisition of 77% stake in India’s largest e-commerce firm Flipkart. The deal is ascribed to be the biggest e-commerce deal. Indian e-commerce market that is expected to grow to $200 billion within a decade.....

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Amazon to increase investment in Indian operations

Sticking to the word made by Jeff Bezos, Amazon will invest 2600 cr into its Indian operations. While the company’s losses of over $3 billion were mainly due to its Indian expenses. Yet, Its CFO claims that the Indian market has been good for the company. After the launch of Prime and Alexa.....

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Walmart’s Flipkart acquisition deal declaration likely today

Walmart Inc. is set to announce the purchase of a majority stake in Flipkart in a deal that will value India’s largest online retailer, making it the world’s biggest ever e-commerce acquisition. The deal is expected to be made public today with Walmart CEO Doug McMillon in India for t.....

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Nestlé to market, sell Starbucks products globally

Nestle and Starbucks have inked a pact to create a global coffee alliance, to bring Starbucks, Nescafe and Nespresso together in the world of coffee.  Nestle will market, sell and distribute Starbucks' packaged coffees and teas globally paying $7.2 bn in cash to Starbucks. However, its r.....

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Microsoft to invest $25mn to use AI for disabilities

Microsoft CEO Satya Nadella announced its plan to invest a $25 million in artificial intelligence to build better technology for people with disabilities. He also announced about the company’s new ventures in cloud computing, AI, internet-connected devices and virtual reality. It competes w.....

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Dessert market’s biggest bet is a 22YO

Utsav Batra, all of 22, has opened his ‘Bob’s-The Shake Store’ in Gurgaon in 2017 giving shakes and desserts an Indian touch. It makes different flavors for the different palate like ‘Redbull Fiasco’ and ‘Parle-G Shake’.  He says with the help of cus.....

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DSP proposes to buy out Blackrock’s stake

DSP group is the oldest financial services firms of India founded in 1860. It has proposed to buy out BlackRock’s 40% stake in DSP BlackRock asset management company that manages over INR 1,10,000 crore of money. The firm manages a range of equity and fixed income investments in active and .....

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Bank employees to go on strike at the end of May

Bank employees may go on a two-day strike at the end of May if IBA does not offer a wage revision for the employees. C H Venkatachalam, General Secretary of AIBEA said that profits were used to write-off bad loans of corporates, but the open demands of bank employees, were being ignored. He also .....

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Delhi HC dismisses Centre’s plea against Vodafone

The Delhi HC has rejected the Centre’s plea to challenge Vodafone's decision to initiate 2 international arbitrations against India related to tax demand of Rs 11,000cr. The firm has initiated arbitration proceedings in connection with the tax demand raised against the firm in relation .....

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Hike in interest rates an unlikely event: Finance Ministry

Subhash Chandra Garg, secretary for economic affairs hinted that the interest rates were unlikely to go up. RBI governor Urjit Patel and deputy governor Viral Acharya said that though there was a recovery in economic activity and credit offtake they need more data to withdraw monetary accommodati.....

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Uber brings Kaali Peeli Taxis on board through UberTaxi

Uber has brought tradition kaali peeli (black and yellow) drivers on board in South Mumbai as part of its pilot programme called UberTaxi. Launching the programme, Uber intends to expand its reach in India. the 'Movement', which is a free tool that uses Uber's anonymised trip data to .....

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Flipkart co-founder may quit over Walmart deal

Sachin Bansal, co-founder and chairman of Flipkart, is reported to be planning to quit the company as a deal to sell most of its stake to Walmart takes shape. Sources said Walmart has been keen on retaining only one of the two founders as they fine-tune the deal. Walmart is preparing to announce .....

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Wipro to push global consumer care products in India

Wipro consumer care is to step up the Indian distribution of its globally personal care brands Enchanteur and Yardley. This would provide a stiff competition to its rivals Hindustan Unilever and Procter & Gamble. Earlier, it was concentrating mainly on pushing the brands Santoor and Safewash......

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HCL likely to outdo Wipro in revenue in third quarter

Indian IT firm HCL Technologies is likely to snatch the third position of Wipro in revenues in the on-going quarter after TCS and Infosys. It has already been reported that HCL overtaken Wipro in market capitalization. HCL does not provide quarterly guidance, but said its revenue for the full yea.....

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EPFO suspends services with Aadhaar seeding platform

Employees Provident Fund Organisation has suspended the services linked to Aadhaar-seeding with PF accounts done by Common Service Centre. It said that the decision was taken on the basis of warnings, regarding vulnerabilities in data or software, while maintained that there was no data leakage. .....

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Cambridge Analytica ends its services amid controversy

Cambridge Analytica, the political consultancy at the centre of the Facebook data-sharing scandal, is reported to be shutting down. Soon after the news broke, the company confirmed the report in a press release, saying SCL Group has filed for insolvency, and that bankruptcy proceedings will begin.....

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RBI reveals of Rs 1lakh crore bank frauds in 5 years

In response to an RTI query, the RBI has revealed that there were over 23,000 cases of fraud involving a whopping Rs 1 lakh crore have been reported in the past five years in various banks. The highest ever amount of Rs 28,459 crore is said to have been involved in these cases of fraud reported f.....

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Madhur Dairy plans to sell chopped veggies for women

Madhur Dairy, a Gandhinagar-based cooperative milk-producing society, plans to sell chopped vegetables from 2020. The management will purchase vegetables from the farmers directly and will process it. They plan to target women clientele, a gift for working women. It was announced by the chairman .....

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Do we need to invest in physical gold, ETFs or bonds

Advisors say that investors usually invest in gold by buying jewellery, coins or biscuits. 2 other options that can be utilised to buy gold is through gold ETFs and sovereign bonds. They fee that funds should be parked in demat form and be invested in physical gold only when needed. Gold ETFs and.....

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From a home based kitchen to a global business

Joel Jerome and Sandy Samuel Jerome’s start-up Somy’s Kitchen is offering homemade pickled masalas and Indian breads worldwide. Although they started a small home based condiment business three years ago in London, they had to sell their home to launch their business globally. They ha.....

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Petrol, diesel prices remain unchanged, no excise cut

The petrol and diesel prices remained unchanged for the seventh day despite the crude oil prices rise in the international market. The Center Govt is reportedly holding the prices due to the scheduled election in Karnataka. Meanwhile, the Govt is unlikely to cut excise duty as fuel rates have not.....

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SoftBank combines Sprint Corp with T-Mobile US Inc

SoftBank Group Corp has inked a pact to combine its SoftBank’s Sprint Corp with Deutsche Telekom AG’s T-Mobile US Inc to create a U S wireless carrier with a market value of more than $80bn. SoftBank, a Japanese technology and telecommunications group, will own 27% of the combined com.....

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Tips to spot financial infidelity

Financial infidelity is hidden financial behavior in a partner and it is more dangerous than physical infidelity. You can always spot the warning signs in your partner. If you notice any unexplained withdrawals and a change in money habits. Single control of finances and their refusal to talk mon.....

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IndiGo soars in market share under President Aditya Ghosh

In less than a decade, IndiGo has managed to become India’s largest airline by market share from a single aircraft company. It has 161 aircraft. IndiGo, under President Aditya Ghosh, has propelled the airline to great heights. He wrote in a letter to the employees, It’s been an exhila.....

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GST, note ban bring 1.8mn people under I-T net: India

A slew of financial reforms India implemented including GST and note ban of high denomination has helped to bring over 1.8mn people under income-tax net, told additional secretary in the Ministry of External Affairs A Gitesh Sarma at the UN forum. He said that country is committed fundamental pri.....

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No clarity on Nirav Modi’s location amid reports of shifting

Nirav Modi, who is wanted in India for loan fraud, has reportedly shifted his base to New York. It has been reported that Modi went from Mumbai to the UAE, then to Hong Kong and London. He left the UK in March and is now in New York. However, there is still no clarity of his whereabouts and how h.....

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Govinda’s opens its Pizza shop

Govinda’s restaurant has been serving vegan food well before avoiding meat went main stream. And now Haryasva Dasa is putting his dream of opening pizza shop into reality. The new pizzeria sells vegan slices, hummus. If you can’t make it to Govinda’s try these recipes at home. E.....

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US to send trade delegation to China to resolve trade war

Donald Trump announced that US Treasury Secretary Steven Mnuchin and top trade officials would soon travel to China to resolve a trade dispute that has roiled markets and left exporters on edge. Both countries have proposed tariffs of $50bn on each other’s products. Meanwhile, Mnuchin has e.....

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Google CEO Sundar Pichai is about to have a $380 mn award

Google CEO Sundar Pichai is about have $380 million from his 353,939 restricted shares that he was awarded before promoting to its helm. The amount is worth to be counted as one of the largest single payouts to a public company executive in recent years. The award swelled in value as Alphabet'.....

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India’s growth pace may accelerate in 2018-19: RBI chief

The RBI Chief Urjit Patel said about India’s economic growth citing resilient mode of the economy which he expects accelerate in the next fiscal. He said there are several factors that are expected to support the growth pace in 2018-19. He also expressed hope that the investment activity wi.....

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Petrol, diesel prices find at highest level under BJP Govt

Raising petrol and diesel prices by the state owned oil companies on Sunday the petrol prices hit the highest level under the BJP-led Govt while the diesel rates touched a record high. The oil companies have been revising the prices on daily basis from last June. Today, they raised petrol and die.....

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Oil prices continue to move up to touch new highs

The petrol and diesel prices continued to rise up as with a hike by 13 paise on Sat, fuel prices marked highest hike in the last 20 days. In the global market the oil prices touched a 4-year-high. However, the prices crashed after Trump’s remark at skyrocketing prices. In India, petrol and .....

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India to increase more jobs for woman in formal sector: IMF

As an important policy priority in economic reforms, Ken Kang, the deputy director at IMF, suggests India to focus in creating more jobs for women in the formal sector. He praised the country for it reform policies which it has implemented in diverse sectors in the recent years. It is one of thre.....

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RBI must come clean on the ATM mess mystery

The blame-game between RBI, Note-printing authority and the banks reveals that RBI has
failed to meet the demand for currency in line with the economy’s growth. The bank
managers say the ATMs are starved of cash and are gettign only 30%. Some consider this as
a governme.....

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US-China trade war may derail global economic recovery: WTO

World Trade Organisation Chief Roberto Azevedo warned that the escalation of trade war
between the US and China could impact adversely the global economic recovery. Though it
is impossible to measure the effects, it is likely that most of its impact would hit poor
countries t.....

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SBI report says on-going cash crunch could be superficial

The SBI said that the current cash shortages in ATMs could be superficial rather than real
citing the decline in ATM withdrawals. The ATM withdrawals have declined in quarter 4 on
a sequential basis, it said. However, it attributed the decline to a seasonal phenomenon. It
add.....

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