Business - The Purbottar

24 Jun

Facebook to buy 9.99% stake in Jio Platform for ₹43,574 crore.

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The antitrust watchdog is reviewing Facebook’s purchase of a 10 per cent stake in Reliance Industries’ (RIL) digital assets, a deal that would give the US giant another foothold in one of the world’s fastest growing internet markets. The Competition Commission of India (CCI) looks to prevent misuse of data in all the deals it assesses, Chairman Ashok Kumar Gupta said in an email interview, declining to comment further on the Facebook-Jio transaction pending examination. The regulator is also considering whether new parameters should be included in its assessment criteria. “Currently, some mergers and acquisitions escape the threshold for scrutiny…

24 Jun

BS6 Honda Grazia 125 launched.

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Honda Motorcycles and Scooters India on Wednesday launched the BS6 compliant version two-wheeler Grazia 124. The all-new Grazia 125 dispatches will commence starting this week. Grazia 125 BS6 will be available at a starting price of Rs. 73,336 (for Standard version, ex-showroom).There will be two variants - Standard & Deluxe in four bold colours – Mat Cyber Yellow, Pearl Spartan Red, Pearl Siren Blue and Mat Axis Grey.At the heart of Grazia 125 ticks BS6 compliant Honda's trusted 125cc PGM-FI HET (Honda Eco Technology) engine, boosted by Enhanced Smart Power (eSP). It also comes equipped with a unique multi-function switch…

24 Jun

RBI told that the Google Pay is a 3rd party app provider and does not operate any payment systems.

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GUWAHATI: The Reserve Bank of India (RBI) has told the Delhi High Court that Google Pay is a third party app provider (TPAP) and does not operate any payment systems.Further, RBI stated that its operations are not in violation of the Payment and Settlement System Act of 2007, RBI. Responding to a PIL filed by financial economist Abhijit Mishra who has alleged that Google's mobile payment app was facilitating financial transactions without the requisite authorisation, RBI added that since Google Pay does not operate any payment system, it does not find a place in the list of authorised payment system…

23 Jun

How Apple plans to take on WhatsApp with iOS 14.

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Back in 2018, during a regular quarterly earnings call with investors, Facebook CEO Mark Zuckerberg made a rather startling admission. "Our biggest competitor by far is iMessage ," Zuckerberg told investors about Apple's default messaging app as a huge threat. Till yesterday, one might have felt that Apple — while making subtle changes — hadn't really upped the ante on Facebook and its family of apps like Messenger and WhatsApp . However, at WWDC 2020 , Apple with iOS 14 announced how Messages is set to change significantly with new features that are designed to take on other instant messaging…

23 Jun

Patanjali ordered to stop advertising COVID-19 drug.

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Yoga guru Ramdev's herbal medicine company Patanjali Ayurved on Tuesday claimed to have discovered a medicine that could cure coronavirus in just seven days - a claim that the Ayush Ministry scoffed at by seeking stopping of advertisements for the drug. While Ramdev claimed that Ayurved-based 'Coronil and Swasari' medicine have shown 100 per cent favourable results during clinical trials on COVID-19 infected patients except those on a life support system, the Ayush Ministry sought from the company detailed report on composition, testing and other data of the drugs. The ministry also used powers under a 1954 law to ask…

23 Jun

ICICI Prudential Life announces a 15% higher bonus

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A bonus totalling Rs 788 crore has been declared by ICICI Prudential Life Insurance for its bouquet of participating products. This is the 14th consecutive year the Company has declared a bonus and delivered long term value to policyholders. The bonus declared for FY2020 is 15% higher than the last fiscal enabling ~9 lakh policyholder to get one step closer to achieving their financial goals. All participating policies in force as of March 31, 2020, are eligible to receive this bonus, which will be added to their guaranteed maturity or death benefit.Managing Director & CEO of ICICI Prudential Life Insurance,…

23 Jun

Indiabulls Reportedly Breached by CLOP Ransomware

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Indiabulls, a diversified financial services group with more than Rs. 28,580 crore (as on March 31, 2019) in net worth, has been reportedly breached by CLOP Ransomware operators. These operators, as per the report, claim to have stolen data that includes four spreadsheets related to the Indiabulls Pharmaceuticals and Indiabulls Housing Finance Limited subsidiaries, among other files. Till now, CLOP Ransomware operators have uploaded six screenshots of stolen files and asked Indiabulls to contact them in 24 hours. According to a report by Bleeping Computer, the cyberattack on Indiabulls has come from CLOP Ransomware operators that steal unencrypted files and…

23 Jun

ICICI Bank sells ₹840 crore shares of ICICI Prudential Life

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Private sector lender ICICI Bank today said that it has the Bank has divested 21,500,000 equity shares of face value of Rs. 10 each of ICICI Prudential Life Insurance Company Limited on the stock exchange for an approximate total consideration of ₹840 crore. Shares of both ICICI Bank and ICICI Pru Life were firm in early trade, up 3% and 4% respectively amid a broader market rally. ICICI Prudential Life Insurance Company Limited (ICICI Prudential Life) is promoted by ICICI Bank Limited and Prudential Corporation Holdings Limited. Its assets under management (AUM) as on 31st March 2020 were at ₹1,52,968 crore. On Friday, ICICI…

22 Jun

Apple’s ARM-Based Chip to First Launch on 13.3-Inch MacBook Pro

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Just hours before the Worldwide Developers Conference (WWDC), noted analyst Ming-Chi Kuo has released an investor note detailing Apple's long-anticipated move from Intel to its own custom-designed ARM processors for its Mac range. Kuo says that the first models to spearhead this transition will be the 13.3-inch MacBook Pro and a completely redesigned iMac. These new models are reported to arrive in the fourth quarter of 2020 or early 2021, however Apple is expected to announce the first ARM processor at WWDC. The WWDC special keynote is set to begin at 10am PDT (10:30pm IST) today. Kuo's latest investor note,…

21 Jun

The effective ban on the use of Chinese network gear could extend to private telecoms like Bharti Airtel and Vodafone Idea

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The government has told two state-run telecoms firms to use locally-made rather than Chinese telecom equipment to upgrade their mobile networks to 4G, a senior government source said on Thursday. New Delhi's move comes amid a backlash against companies from China after the killing this week of 20 Indian soldiers by Chinese forces in a Himalayan border dispute. The instruction is aimed at Chinese telecom gear makers Huawei and ZTE, the source said, after India last year announced an almost $8 billion plan, some of which was earmarked for network upgrades, to help loss-making operators Bharat Sanchar Nigam (BSNL) and…