WhatsApp Pay launch in India imminent as Facebook readies for RBI compliance

WhatsApp is moving into a crowded and competitive field, where local startups and global players are already slugging it out

Industry News

Azim Premji-backed Icertis enters unicorn club; raises this much funding

Icertis, which competes with SAP SE and Oracle Corp. to help businesses manage contracts in the cloud, has raised $115 million, propelling it to unicorn status

Azim Premji, wipro, Rishad Premji, Wipro Board, SEBI, wipro equity shares, Azim Premji Foundation, Arundhati Bhattacharya News

Apollo Hospitals seeks investor, asset sales amid looming debts

The aim is to reduce the Apollo shares pledged by the family as collateral to lenders, to 20% of their total holding in the company from about 78% now, said Suneeta Reddy, Apollo’s MD.

Industry News

कौन है बर्नार्ड अरनॉल्ट? अमीरी में बिल गेट्स से छीन लिया नंबर 2 का रुतबा

बर्नार्ड अरनॉल्ट दुनिया के सबसे अमीरों की लिस्ट में दूसरे नंबर पर आ गए हैं.

bloomberg billionaire index, Bernard Arnault, Bill Gates News

Anti-trust hearing: Facebook denies app changes to avoid breakup

Facebook’s Matt Perault denied that the company’s planned integration of its Messenger app, its WhatsApp chat service and its Instagram photo app was designed to thwart calls to break up the properties.

Facebook, Anti trust hearing of facebook, Alphabet Inc, Google, Facebook Inc, facebook messenger app, WhatsApp chat service, Instagram News

Google under attack over limits on liability on content

Google policy chief Karan Bhatia denied this and said it would be bad for business if users didn’t trust the company to be impartial.

Google, Google limits on liability, google content, YouTube, Karan Bhatia, Mark Zuckerberg, facebook, google search engine News

Essar Steel insolvency ruling risks damage to debt market

Of the many twists and turns taken in the Essar bankruptcy, this is the most damaging. India has been attracting foreign distressed-debt specialists to help clean up its $200 billion-plus of bad loans. The ruling, if it survi

Essar Steel insolvency, Essar bankruptcy, Essar Steel India Ltd, ArcelorMittal, Standard Chartered Plc, Modi government News

Trade war impact: Singapore exports plunge more than forecast

The trade-reliant economy took a sharp downturn in the second quarter, prompting analysts to downgrade growth forecasts for this year and predict a possible recession.

Trade war impact, Singapore exports, US china trade war, Electronics exports, china economy, Enterprise Singapore  News

Google backing out of China partnerships, says Senator Mark Warner

Google pulled its search engine from mainland China in 2010. But the company began developing a separate prototype Chinese search service as early as 2016.

Google, Mark Warner, china, Donald Trump, Sundar Pichai, Facebook Inc, Tencent Holdings Ltd, Alphabet Inc, Beijing News

Donald Trump says he could impose more China tariffs

Trump and Xi called a tariff ceasefire and agreed to resume trade talks after meeting at the Group-of-20 summit in Japan in late-June, breaking a six-week stalemate.

Donald Trump, China tariffs, Xi Jinping, Chinese imports, US farm goods, Steven Mnuchin, China economy, US china trade war News

Betting big: A $677 billion manager spots opportunity amid India sell-off

A tax proposed earlier this month on India’s super-rich, which many overseas investors may struggle to sidestep, triggered the sharpest weekly loss in the benchmark equity index since mid May.

stock market, equity index, credit market, IL&FS Group, Asian equity investment, GST News

Amazon Prime Day 2019: Sales triple of normal day

Sales of consumable products on Amazon during the first nine hours of Prime Day -- a two-day sale that began Monday -- are about triple what they are on a typical sales day, according to CommerceIQ, which helps hundreds of co

Amazon Prime Day 2019, Inc. shoppers, amazon prime day sales,  Costco Wholesale Corp, Walmart Inc, EBay Inc News

China’s growth worries set to endure amid trade war with US

China’s slowdown will continue to provide the backdrop to re-booted trade negotiations with the U.S. in the months ahead, with economists forecasting a full-year expansion of 6.2% this year and 6.0% next.

Chinese economy, Beijing, global trade, JP Morgan, deflation, Retail sales growth, US china trade tensions News

Higher taxes threaten India’s fledgling hedge funds

The increase to 42.7% from 35.9% in the tax rate on annual earnings over 50 million rupees ($730,000), announced in the first annual budget after Prime Minister Narendra Modi’s reelection, has a more vocal victim: overseas

Higher taxes, stock market, india fledgling hedge funds, Alternative Investment Funds, equity investment, SEBI, domestic hedge fund News

Bitcoin tumbles as Donald Trump critique tests stellar run for 2019

Bitcoin slumped briefly below $10,000 on Monday, following another weekend sell-off that saw some digital tokens plunge by more than 20%.

Markets News

New York power outage: Times Square goes dark, evacuations held in middle of Jennifer Lopez concert

It lasted all of five hours — and hit just the spot on New York’s power system to take out the lights in Times Square, force the evacuation of Madison Square Garden in the middle of a Jennifer Lopez concert and bring

power outage nyc, nyc blackout, new york power outage, Manhattan power outage, New York, blackout nyc, blackout nyc 2019, nyc blackout 2019, News

Former RBI governor Raghuram Rajan flags risks for India’s overseas borrowing plan

India’s plan to issue foreign currency debt has no real benefit and is fraught with risks, according to former Reserve Bank of India governor Raghuram Rajan.

Economy News

US-China trade tensions hit Panama Canal revenues

Cargo from the U.S. to China going through the key waterway has slumped this year as the Asian giant cuts its imports of American food and fuel, according to Panama Canal Authority CEO Jorge Luis Quijano.

Economy News

Unprepared UK facing highest risk of recession since 2007

The risk of a U.K. recession is at its highest level in more than a decade, according to the Resolution Foundation.

Economy News

Warning shot to world economy as Singapore slumps, China exports drop

Across Asia and Europe, factory activity shrank in June while the U.S. showed only a meagereconomic expansion. Asia is the world’s growth engine and contributes more than 60% of global GDP, according to the International Mo

world economy, singapore, china, export, china export, Gross domestic product, economy news

IndiGo founders should reward shareholders instead of picking fights

IndiGo should be rewarding its shareholders by consolidating its leadership position and filling the gap left by Jet, especially on overseas routes. Instead, the founders are busy picking fights

IndiGo, IndiGo pilot robbed, IGI, IGI Terminal 1 News

Ford-Volkswagen alliance’s joint power pressurizing Other car makers

Ford’s in autonomous vehicles, allowing both to “address these challenges in a more capital-efficient manner.” Broader cooperation will force other mass-market carmakers to “seek more synergies” to remain competitiv

Car News

India’s war on world’s worst bad-debt pile stalled by regulators

Time-bound resolutions under bankruptcy law are the key to cleaning up $190 billion stressed loans quickly, helping banks dodge higher provisions attached to missing resolution timelines.

bad loan ratio, india bad loan ratio, bad loan of india, anti money-laundering agency, Narendra Modi, bankruptcy law, SEBI News

IMF says it won’t soften its suggestions to a Lagarde-led ECB

In the review, the IMF said that the ECB “should consider further accommodative measures” if the inflation outlook deteriorates. It added that a deeper downturn may require fiscal support for the economy.

IMF, Lagarde, ECB, economy news, International Monetary Fund News

Trump’s top economic adviser praises Alexandria Ocasio-Cortez, wants to meet with her on Fed policy

Alexandria Ocasio-Cortez, a rising star in the progressive wing of the Democratic Party, asked the Fed boss about the Phillips Curve, a theory used as a guide by monetary policy makers for decades. It suggests there’s a tra

Alexandria Ocasio-Cortez News

Now, fruit juice is linked to a higher cancer risk

The research, part of a broader effort carried out in France to investigate links between nutrition and health, is one of the first to find a connection between sweet drinks and cancer.

fruit juice cancer, cancer fruit, cancer risk, cancer fruits, bad habits, healthy lifestyle News

Amazon to spend $700 million to train workers in new skills

In the tightest labor market in a half-century, Amazon is competing with other companies to hire the best and brightest and could help sidestep that challenge with a renewed emphasis on training.

Amazon, new skill, Amazon india, Amazon pay, Inc, amazon website News