Category: Business

India bans import of 101 defence items to boost ‘self-reliance’ (Aatm Nirbhar Bharat): Rajnath Singh, Defence Minister

In an effort to boost the ‘self-reliance’ (Aatm Nirbhar Bharat) initiative, India now puts a ban on importing 101 items of military equipment. On Sunday, defence minister of India, Rajnath Singh announces this plan to clearly give a boost to domestic defence production in India. Minister also added that a separate budget of nearly 520 […]

Mukesh Ambani is now 4th richest man in world

Indian business tycoon and billionaire, Mukesh Ambani is now the world’s fourth-richest man. The chairman of oil-to-telecom conglomerate Reliance Industries, Mukesh Ambani secured the fourth position in Bloomberg Billionaires Index. Now only three names featured ahead of Ambani that is, Jeff Bezos, Bill Gates, and Mark Zuckerberg respectively. According to the list that shows the […]

Zomato introduces ‘Period Leave’ for female employees in India

Indian food-tech startup Zomato announced on Saturday that from now the company would give female employees up to 10 days of “period leave” per year. This introduces as a part of an effort to combat the stigma around the issue. The biggest name in Indian food delivery space, Zomato is also known for its policies […]

TikTok prepares advertisers for possible app ban in the US

ByteDance owned TikTok is preparing advertisers for a possible ban of its app in the United States, as ad buyers said the company started offering refunds for ad campaigns that are unable to run. Meantime, TikTok’s anticipated $1 billion in 2020 revenue is a small fraction of its parent ByteDance’s overall sales. But TikTok has […]

Mahindra is looking for investors for its electric vehicles business

Indian automaker giant Mahindra & Mahindra is looking for investors for its domestic electric vehicles business, and is finalizing investment plans for its Automobili Pininfarina unit, the group’s managing director said on Friday. Since the last few years Mahindra trying to be a key player in mass-market electric vehicles (EVs) through its unit Mahindra Electric and […]

Uber rides revenue falls amid COVID-19 but food-delivery business doubles

During the pandemic, Uber Technologies Inc registers more than doubled orders on its food delivery service in the second quarter but at the same time, demand for ride-hailing trips seems to be marginally recovered. According to this U.S. based ride-hailing firm, despite the larger challenges amid COVID-19 situation, it is still sticking to its goal […]

Trump issues orders banning TikTok and WeChat in 45 days, if not sold by Chinese parent companies

Finally, U.S. President Donald Trump issued executive orders for banning Chinese social media apps TikTok and WeChat in the US in 45 days, if they are not sold by their Chinese parent companies. Notably, these apps are owned by ByteDance and Tencent respectively. So now Trump administration by issuing these executive orders is trying to […]

Bank of England Says Economy Will Take Time to Heal

On Thursday, The Bank of England predicted that the economic downturn in the U.K. economy amid COVID-19 might be less severe than it thought at the start of the pandemic but it would take a longer time to heal the scars. The central bank said the economy may not return to pre-pandemic levels until the […]

AstraZeneca signs first Covid-19 vaccine supply deal with Chinese company

China-based Shenzhen Kangtai Biological Products will produce Cambridge headquartered AstraZeneca Plc’s potential COVID-19 vaccine in mainland China, the British drugmaker confirms on Thursday, clearly its first deal to supply one of the world’s most populous countries. Notably, Shenzhen Kangtai will ensure it has an annual production capacity of at least 100 million doses of the […]

TikTok Is Planning To Open First European Data Centre In Ireland

Chinese ByteDance-owned popular short-video app TikTok is planning to open its first European data centre in Ireland, the company said in a statement. For this, the short-video app is looking to invest around 420 million euros (approx. $499 million). Interestingly, this development comes when this popular app facing serious national security-related allegation from Trump administration […]
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