BUSINESS
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Sep- 2022 -18 September
Amazon Great Indian Festival sale 2022: iPhone 12 to cost under Rs 40,000
After announcing the iPhone 14, Apple has marked down the prices of the older iPhones. Currently, the iPhone 12 is available for Rs 59,900 on Apple’s site and Rs 57,900 on Amazon. But the e-commerce platform has hinted that the price of the iPhone could go down to under Rs 40,000 during its annual Great Indian Festival sale. A teaser on Amazon’s Great Indian Festival sale has revealed that the iPhone 12 will be available at under Rs 40,000. Presumably, this will be for the 64GB base variant of the phone. This would be the lowest price seen so far for the phone. iPhone 12 for INR 3X,XXX during the #AmazonGreatIndianFestival#iphone12dealonAmazon pic.twitter.com/7EsFfV7ZXj— Mukul Sharma (@stufflistings) September 17, 2022 The iPhone 12…
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18 September
RBI ready to bring card tokenisation norms into effect from Oct 1
Mumbai: The Reserve Bank of India (RBI) is ready to bring its card-on-file tokenisation norms into effect from October 1 after various complaints were filed regarding the misuse of debit or credit cards. Several people were cheated in the last few years by cyber frauds because they have stored their card data on the merchants website for future payments. Lets us understand what these new norms are and why you should tokenise your card. Firstly, tokenisation means the details of your cards such as 16-digit number, names, expiry dates and codes which you used to save earlier for the future payments will now be replaced by a token. The token is used by the merchant’s website for the transaction. The…
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18 September
‘Make in India’ smartphones share reach 16% with 44 mn units
New Delhi: In order to meet the criteria for performance-linked incentive (PLI) scheme, ‘Make in India’ smartphone shipments grew 16 per cent year-on-year to reach 44 million units in the first quarter of this financial year, according to a new report. The Indian government’s push with multiple PLI schemes has been showing a positive impact and “we saw increased local manufacturing share in product segments like smartwatch, TWS, neckband and tablet”, said Counterpoint Research. OPPO led the ‘Make in India’ smartphone shipments with a 24 per cent share, followed by Samsung and Vivo. Lava led the feature phone shipments with 21 per cent share. “OPPO recently announced the Vihaan initiative under which it plans to invest $60 million in the next…
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18 September
Maha: FDA cancels Johnson & Johnson’s license to make baby powder
Mumbai: The Maharashtra FDA has cancelled the baby talcum powder manufacturing licence of Johnson & Johnson (J&J), from its sole plant in the state at Mulund, officials said. The FDA said that the licence was cancelled after samples of the fast-moving Johnson’s Baby Powder collected from Nashik and Pune have failed quality checks, and has ordered the company to recall all its stocks from the markets. These samples were declared by the FDA as ‘Not Of Standard Quality’ after it failed to comply with IS5339:2009 (Second Revision Amendment No. 3) Specification for Skin Powder for infants in the test pH. The powder samples were collected in November 2019, followed by a show-cause notice issued to the company after the FDA report.…
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17 September
UAE: Long queues at Dubai Mall to buy iPhone 14; sold out in 45 mins
Abu Dhabi: Hundreds of people on Friday queued in front of Apple stores in Dubai, Abu Dhabi, and other regions of the world as the American technology giant began selling its latest electronic products, including the new iPhone 14 and the new Apple Watch. Apple Stores in Abu Dhabi and Dubai, especially in the Dubai Mall, witnessed a great demand from consumers to reserve and receive new phones, as they waited in long queues, which is the largest since the COVID-19 pandemic. The prices of the new phones range from Dirhams 3,399 (Rs 73,743) to Dirhams 6,799 (Rs 1,47,509) for the iPhone 14 Pro Max, (1 TB). iPhone 14 sold out in 45 minutes All iPhone 14 Pro and iPhone…
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17 September
New Maruti Suzuki Grand Vitara AWD variants contribute only THESE many bookings
The demand for mid-SUVs is all-time high, and the carmakers have of course sensed it. Therefore, the country’s largest carmaker – Maruti Suzuki, is now going all guns blazing in this segment with the Grand Vitara, which will be launched in the country by this month itself. The Maruti Suzuki Grand Vitara brings multiple powertrain and drivetrain options to the table, along with both FWD and AWD layouts. The company has confirmed that around 40 per cent of total bookings have come for the strong-hybrid variant, but only 5-7 per cent of total orders are for the all-wheel-drive variants. The mild-hybrid-equipped version makes for the highest number of orders. The brand has acknowledged that more than 53,000 orders have been…
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16 September
Gautam Adani Becomes 2nd Richest Person In World, Leaves Behind Jeff Bezos
Adani Group Chairperson Gautam Adani has now become the world’s second-richest person. According to Forbes Real-Time Billionaires List, Adani’s net worth stands at $155.7 billion as of September 16, 2022, leaving behind Amazon’s Jeff Bezos. Adani is now only behind Tesla’s Elon Musk, who remains the world’s richest man with $273.5 billion net worth. Adani’s net worth has surged even as the shares of Adani Group companies (Adani Enterprises, Adani Port and Adani Transmission) hit their record highs on Friday (September 16) on the BSE. In the calendar year 2022, Adani has added over $70 billion to his fortune, only one among the world’s 10 wealthiest people to have seen his net worth increase this year. He became a centibillionaire in April…
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16 September
European Union proposes $140 bn windfall tax on energy companies
London: The European Union wants to raise $140 billion by tapping the windfall profits of some energy companies to help households and businesses pay eye-watering gas and electricity bills, media reports said. On Wednesday, the European Commission proposed capping the profits of renewable and nuclear electricity producers, and taxing the windfall earnings of oil and gas companies, CNN reported. Profits at power generators using wind, solar and nuclear energy have ballooned because their tariffs are linked to the wholesale price of natural gas, which soared to a record high in March after Russia invaded Ukraine, and now stands about 550 pert cent up on year-ago levels, the report said. Europe sanctioned Russian oil and coal exports after the invasion, prompting Moscow…
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16 September
5G service to be rolled out in Odisha in first phase: Vaishnaw
Bhubaneswar: High-speed 5G services will be rolled out in many parts of the country, including Odisha, very soon, Communications and IT Minister Ashwini Vaishnaw said on Thursday. Interacting with reporters in Puri, Vaishnaw said that Odisha will get 5G service in the very first phase. Asked about any impact of the 5G radiation on human beings, he said: “The amount of radiation it will give forth is 10 times less than the radiation norms set by the World Health Organisation (WHO). So, no one should worry about it.” Earlier, Vaishnaw had asked the telecom service providers to be ready with the 5G launch post the issuance of spectrum allocation letters. During his Independence Day address from the ramparts of the Red…
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16 September
M1xchange aims to tap MSMEs in Telangana for its TReDS platform
Hyderabad: Bill discounting platform M1xchange said it will tap the MSME segment in Telangana and Andhra Pradesh for its ‘Trade Receivable by M1xchange’ product. TReDS is a mechanism to facilitate the discounting of invoices for MSMEs from corporate buyers through multiple financiers. M1xchange aims to offer liquidity within 24-72 hours online to micro, small and medium enterprises (MSMEs). TReDS addresses the issue of challenges of delayed payments to MSMEs. Invoices raised by MSMEs accepted by corporate buyers are funded at market-determined interest rates using an auction method in which multiple financial institutions bid. This financing is without any collateral or security and without recourse to the MSMEs. “The cost of funding outside the banking system is high for MSMEs. With M1xchange TReDS, MSMEs will be able to utilise…
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