Trump says he will ban TikTok in the US

US security officials fear the Chinese-owned app could be used to collect Americans' personal data.

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US security officials fear the Chinese-owned app could be used to collect Americans' personal data.

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States should not be made to bear the burden of borrowing: Punjab FM Manpreet Badal

“States should not be made to bear the burden of borrowing, which in any case is likely to be higher than the rate at which the central government will be able to borrow,” Badal said in the letter dated July 3, a copy of which was seen by ET.

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Panel proposes a $10 billion state-led export plan to boost agriculture exports

The plan focused on 22 crops that would add value to the international value chain, and would follow a demand-driven approach with anchoring investments from the private sector.

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Coronavirus: Scotland developing its own contact-tracing app

It follows the failure of an NHS-branded app in England, which was trialled on the Isle of Wight.

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Technew

It follows the failure of an NHS-branded app in England, which was trialled on the Isle of Wight.

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Rs 700 crore ADB-funded project approved by government to help farmers in Maharashtra

The project is worth $142.9 million, or about Rs 1,000 crore, of which 70% would be lent by Asian Development Bank and the balance will come from state government.

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FinMin working with RBI on need for loan restructuring: FM Nirmala Sitharaman

To help borrowers deal with liquidity crunch during the pandemic, the Reserve Bank had announced a three-month loan moratorium in March, which was later extended by another three months till August 31. Borrowers opting for loan moratorium can defer payment of the interest and principal component of the loan during this period.

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Core sector contraction further slows in June, only fertiliser sector shows growth

The index of eight core industries dropped 15% in June compared to a 22% decline in May. It had declined 37% in April. This is the fourth consecutive month of contraction in the core sector.

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India fiscal deficit to cross a record level of 7.5% of GDP, predicts a private economist

Deficit is predicted by private economists to cross 7.5 per cent of GDP in the 2020/21 fiscal year beginning April, from initial government estimates of 3.5 per cent, due to a sharp economic contraction caused by the COVID-19.

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Retail inflation for industrial workers eases to 5.06 per cent in June

Retail inflation for industrial workers measured in terms of Consumer Price Index for Industrial Workers (CPI-IW) for June 2020 increased by 2 points and stood at 332.

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Australia unveils plan to force Google and Facebook to pay for news

Google and Facebook would pay news outlets in the "world-leading" plan, the government says.

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Google and Facebook would pay news outlets in the "world-leading" plan, the government says.

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Twitter hack: Staff tricked by phone spear-phishing scam

Twitter says employees were tricked into handing over credentials to the cyber-attackers.

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Technew

Twitter says employees were tricked into handing over credentials to the cyber-attackers.

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Twitter bans ex-KKK leader David Duke

He was permanently suspended for repeatedly violating Twitter's "hateful conduct" rules.

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Technew

He was permanently suspended for repeatedly violating Twitter's "hateful conduct" rules.

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BRICS nations stress on improving environment, promoting circular economy to recover from COVID-19 effects

The environment ministers of BRICS countries -- Brazil, Russia, India, China and South Africa -- participated in a meeting through video conference under the presidency of Russia on Thursday. At the Sixth BRICS Environment Ministers' Meeting, the nations acknowledged that COVID-19 has heightened social vulnerabilities and resulted in significant job losses.

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Uttar Pradesh ropes in PwC for identifying product categories for world exports

The state has roped in PricewaterhouseCoopers and has identified seven such product categories including ceramics, woven fabrics, trunk, suitcases and allied products, footwear, among others, where it can carve a position in world supply in the short term. In the long term, it continues to develop itself as a major force in the manufacturing and export of electronics, processed food and chemicals.

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RBI likely to leave repo rate unchanged in August policy meet: SBI Report

"We believe an August rate cut is unlikely. We believe that the MPC could now well debate what further unconventional policy measures could be resorted to in the current circumstances to ensure financial stability is continued to be addressed," an SBI research report- Ecowrap said.

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Burberry and Tencent team up for concept stores

The luxury British retailer and China's tech giant have joined forces amid growing national tensions.

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League of Legends European Championship cancels Saudi deal after backlash

Fans of the esports league say they were right to highlight Saudi Arabia's human rights record.

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Technew

The luxury British retailer and China's tech giant have joined forces amid growing national tensions.

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Technew

Fans of the esports league say they were right to highlight Saudi Arabia's human rights record.

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The reason why big countries such as India are at a disadvantage in dealing with pandemics

The pressure to “reopen” in such countries is also greater. Large nations do well economically because they have big, interdependent and diverse internal markets. Consequently, they can ill afford to have those supply chains broken for long.

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Covid deepens Indian infra sector's troubles, flagship projects among casualties

“At present everything is in a state of pandemonium,” Hemant Kanoria, chairman of Srei Infrastructure Finance Ltd. in Kolkata, said, while seeking a one-time recast of loans for construction firms, clearance of dues owed by the government and faster resolution of disputes to ease cash flow. “Otherwise everyone is dead.”

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Big Tech: What comes next for the US giants?

Apple, Amazon, Alphabet and Facebook's CEOs gave testimony, but voters will determine the outcome.

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Technew

The heads of Amazon, Apple, Facebook and Google faced accusations of bias and unfair competition.

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Economy on recovery path piggy-riding rural rebound: HDFC Chairman Deepak Parekh

"Signs of the wheels of the economy beginning to churn are evident from the following facts: unemployment rates have tapered down from their peaks in May, e-toll collections are higher, as are e-way bills, digital transactions and GST collections which are back to the Rs 90,000 crore levels.

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Huawei takes top spot in global phone shipments for first time

The Chinese firm has overtaken Samsung as the world's biggest smartphone vendor.

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TikTok launches £54m fund for European creators to make videos

The video sharing app launched a $200m fund for American users earlier this month.

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Technew

The Chinese firm has overtaken Samsung as the world's biggest smartphone vendor.

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Technew

The video sharing app launched a $200m fund for American users earlier this month.

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India considers amnesty for citizens hoarding gold illegally

Any proposal for an amnesty is fraught with risks as the country’s top court has ruled that Indians cannot claim absolute amnesty following criticism that such programs penalize honest tax payers. A finance ministry spokesman was not immediately available for a comment.

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Counterfeit products create Rs 1-lakh-cr hole in economy, incidents up 24% in 2019: Report

The report also said counterfeiters are having a free-run due to the pandemic-driven disruptions to organised supply chains and the resultant spike in consumer demand.

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MEIS not going anywhere, working on win-win solution for all: Piyush Goyal

“We are in dialogue with the requisite authorities. MEIS is not going anywhere. It is a cash flow issue,” Goyal said at a virtual event organised by the Confederation of Indian Industry. Stating that the Covid-19 pandemic has had an impact on government finances, he said: “We are trying for an early solution which is a win-win for everyone”.

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AIIB to step up lending in India; plans to approve loans worth USD 3 billion in next 12 months

India is the largest borrower, which accounts for 25 per cent of the total lending by Asian Infrastructure Investment Bank (AIIB) so far, the bank's vice president D J Pandian told in an interview.

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China, India got lot richer but refused to take on any more responsibilities: top US Senator

“No one expected the Uruguay Round to be the last global trading round. Over the last two decades, countries like China and India got a lot richer, but they've refused to take on any more responsibilities,” Senator Chuck Grassley claimed. “In fact, they claim they are entitled to special treatment in any future negotiations because they are developing countries,” he said.

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India-UN Development Partnership Fund supports projects to respond to Covid-19

Established in 2017, the India-UN Development Partnership Fund is a dedicated facility within the United Nations Fund for South-South Cooperation. It is supported and led by the Government of India, managed by the United Nations Office for South-South Cooperation, and implemented in collaboration with the United Nations system.

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Two sides of the same crisis: Stock markets and real economy

The stock market recovery to near pre-Covid levels comes despite no improvements in the economic or health prospects for the country. In fact, the complete extent of the impact of Covid on the real economy have not even been realised. And this decoupling of the capital markets with the real economy is being witnessed globally.

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Coronavirus: Samsung profits soar on work from home demand

The world's biggest producer of memory chips sees demand jump as data centres expanded during lockdowns.

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Nasa Mars rover: Perseverance robot poised for launch

The one-tonne vehicle will search for signs of Martian life and prepare rocks to send home to Earth.

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Technew

The world's biggest producer of memory chips sees demand jump as data centres expanded during lockdowns.

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Technew

The one-tonne vehicle will search for signs of Martian life and prepare rocks to send home to Earth.

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Pandemic induced labour scarcity increases demand for sugarcane harvesting machines in South India

Maharashtra, the country’s second-largest sugar producing state, employs close to 1 million migrant labours every year to help in sugarcane harvesting. Neighbouring Karnataka, Andhra Pradesh and Telangana, too, engage thousands of such workers in their sugarcane fields.

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Apple, Amazon, Facebook, Google face claims of 'harmful' power

The executives of the four US tech giants defend their records at a five-hour hearing in Congress.

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Young people 'feel anxiety and terror' using fitness apps

A study of young people finds a fine line between getting results and becoming "obsessed".

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Technew

The executives of the four US tech giants defend their records at a five-hour hearing in Congress.

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Technew

A study of young people finds a fine line between getting results and becoming "obsessed".

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Google offers refunds after smart glasses stop working

The North Focals smart glasses will lose all special features, but customers will get refunds.

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Technew

The North Focals smart glasses will lose all special features, but customers will get refunds.

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Wiley permanently suspended by Twitter over anti-Semitism

Twitter was accused of inaction and delay over anti-Semitic remarks posted by the music star.

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Technew

Twitter was accused of inaction and delay over anti-Semitic remarks posted by the music star.

from BBC News - Technology https://ift.tt/2D17RLb

Multilateral funding agency ADB approves USD 3 million grant to India to combat COVID-19

The grant, which is financed by the Japanese government, will be used to procure thermal scanners and essential commodities to strengthen India's COVID-19 response, Asian Development Bank (ADB) said in a statement.

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Government seeks suggestions from industry for simplification of customs procedures

“In this context, suggestions are invited in respect of review of existing Customs exemption notifications,” the Central Board of Indirect Taxes and Customs (CBIC) said in notice to stakeholders. Suggestions have been invited through the mygov.in portal.

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Government relaxes norms for employees who could not join office during lockdown

The Personnel Ministry has issued an order to all central government departments mentioning clarifications to the queries on the issue, with a directive that they should avoid an "unnecessary reference to DoPT (Department of Personnel and Training under the ministry) on the subject".

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Turkey's MPs vote to tighten grip on social media

Twitter, Facebook, and YouTube will now need to comply with requests to remove content.

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Technew

Twitter, Facebook, and YouTube will now need to comply with requests to remove content.

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Technew

The pop star was censured for sharing a video about a coronavirus conspiracy theory.

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Madonna's Instagram account flagged for spreading misinformation

The pop star was censured for sharing a video about a coronavirus conspiracy theory.

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Egypt TikTok: Female influencers jailed over 'indecent' videos

The five young women are sentenced to two years in prison and fined almost $19,000 (£15,000) each.

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Technew

The five young women are sentenced to two years in prison and fined almost $19,000 (£15,000) each.

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'Fix your bike' website crashes as scheme launches in England

A website offering £50 bike repair vouchers from the government did not work for about four hours.

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Coronavirus: Kodak pivots itself to become strategic drug maker

The former camera maker moves into drug making and secures a major loan from the US government.

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How much power does tech 'big four' have?

Regulators are scrutinising Amazon, Apple, Google and Facebook. How much power do the 'big four' hold?

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Bringing Mars back to Earth

An audacious mission to bring rock samples from Mars back to Earth is about to begin - find our more with our illustrated guide

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Technew

A website offering £50 bike repair vouchers from the government did not work for about four hours.

from BBC News - Technology https://ift.tt/335fD1u

Technew

The former camera maker moves into drug making and secures a major loan from the US government.

from BBC News - Technology https://ift.tt/2CWOLpE

Technew

Regulators are scrutinising Amazon, Apple, Google and Facebook. How much power do the 'big four' hold?

from BBC News - Technology https://ift.tt/3359Sk4

Technew

An audacious mission to bring rock samples from Mars back to Earth is about to begin - find our more with our illustrated guide

from BBC News - Technology https://ift.tt/308Ohp8

BRICS plan a separate meet of foreign ministers, NSA ahead of September Summit

Meetings of the five foreign ministers and NSA are important to shape the agenda of any BRICS Summit. This year’s meet has acquired extra significance as two of five members of the BRICS – India and China – were involved in a bitter standoff.

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Wall Street falls as pandemic hurts consumer confidence and earnings; stimulus plan underwhelms

Data released in the morning showed U.S. consumer confidence ebbed in July as coronavirus infections flared up across the country. The Dow Jones Industrial Average fell 205.49 points, or 0.77%, to 26,379.28

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National Trust joins victims of Blackbaud hack

The charity says a database containing details of its volunteers and fundraisers has been affected.

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Donald Trump Jr suspended from tweeting after Covid post

US president's son's use of Twitter is limited for 12 hours after he broke its misinformation rules.

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Technew

The charity says a database containing details of its volunteers and fundraisers has been affected.

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Technew

US president's son's use of Twitter is limited for 12 hours after he broke its misinformation rules.

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Govt proposes to hike confinement expenses payable under ESIC scheme to Rs 7,500

According to the draft notification, stakeholders have been given 30 days' time for providing their feedback on the proposal to hike maternity benefit under the ESI Scheme run by the Employees' State Insurance Corporation (ESIC).

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FM suggests AIIB to establish regional presence for effective project management

The finance minister led a roundtable discussion on the theme ‘AIIB 2030-Supporting Asia’s Development over the Next Decade’, during which she spoke about India’s initiative of creating a Covid-19 Emergency Fund for SAARC nations.

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Supply shortage, rise in demand push potato prices up by 40% in major cities

In the major metros of Mumbai, Delhi, Kolkata and Chennai potato is selling for Rs 30-45 per kg, depending on the variety and quality. In Mumbai, a kg of potato is commanding a price of Rs 35-45 while in Delhi and Kolkata prices are hovering between Rs 30-40 per kg.

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Sainsbury's to try out virtual queuing system

A phone app will enable shoppers to avoid long waits in socially distanced queues outside stores.

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Technew

A phone app will enable shoppers to avoid long waits in socially distanced queues outside stores.

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India's GDP growth to lose momentum from third quarter: Oxford Economics

It further said India fares the worst in its Asia recovery scorecard, implying that the country will likely take the longest among major economies to converge to its pre-coronavirus growth level. .

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Wiley: Rapper abuses Jewish critics on Facebook

The grime artist posts new inflammatory comments amid criticism over his previous anti-Semitic rant.

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Technew

The grime artist posts new inflammatory comments amid criticism over his previous anti-Semitic rant.

from BBC News - Technology https://ift.tt/32YnU7j

'Upcoming road projects may shift towards PPP as govt funds getting impacted due to COVID-19'

Addressing the company's 22nd annual meeting virtually, the company's Chairman and Managing Director Virendra Mhaiskar said the firm will focus on BOT (build-operate-transfer)-based projects.

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Plea against Insolvency code ordinance; Delhi High Court seeks Centre's stand

A bench of Chief Justice D N Patel and Justice Prateek Jalan issued notice to the Ministry of Law and the Insolvency and Bankruptcy Board of India (IBBI) seeking its stand by August 31 on the plea which seeks setting aside of the amendment made in the IBC by the ordinance

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Commerce Ministry not accepting MEIS applications from exporters availing tax incentives

The commerce department has requested its revenue counterpart to reconsider its decision, and a communication has also been sent by Commerce and Industry Minister Piyush Goyal to Finance Minister Nirmala Sitharaman on July 21.

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Covid is unpredictable but responses should be to boost investment, demand: CII

The Confederation of Indian Industry has asked governments to standardise their responses based on certain thresholds that would trigger a certain action which would bring in a dimension of predictability and boost investment. It also suggested that containment zones be limited to micro areas to ensure that the supply chains function seamlessly across state and district boundaries.

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Govt notifies changes in FDI norms allowing NRIs to acquire up to 100% in Air India

As per the notification, foreign investments in Air India, including that of foreign airlines shall not exceed 49% either directly or indirectly except in case of those NRIs, who are Indian nationals, where foreign investments is permitted up to 100% under automatic route.

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Digitalisation of SMBs could add as much as USD 216 billion to India's GDP by 2024: Study

The study, based on a survey of SMBs from across the Asia Pacific region conducted by IDC and commissioned by Cisco, shows that SMBs that are more digitally mature enjoy twice as many benefits in terms of revenue and productivity compared to those that have an indifferent approach to digitalisation.

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Google's new transatlantic data cable to land in Cornwall

The tech giant plans a new high-end transatlantic data cable to go from the US to Bude, in Cornwall.

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Amazon takes on supermarkets with free food delivery

Same or next-day delivery will now be free for Prime subscribers in London on orders above £40.

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Technew

The tech giant plans a new high-end transatlantic data cable to go from the US to Bude, in Cornwall.

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Technew

Same or next-day delivery will now be free for Prime subscribers in London on orders above £40.

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Pandemic forces revamp of world’s biggest food stamps programme

Under the program, people are now allowed to take their quota of foodgrains from a “fair-price shop” anywhere in India by giving their ration card number and providing biometric authentication. Until now Indians could only receive the rations in their hometowns, which could discourage some from moving away in search of work.

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Technew

The popular GPS brand appears to be partly up and running after a weekend-long outage.

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Indian economy to see sharp V-shaped recovery in the next two quarters: N K Singh

The growth projections for current year by various global and domestic agencies indicate a sharp contraction of Indian economy ranging from (-)3.2 per cent to (-)9.5 per cent.

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Recent uptick in economy likely to fade, due to rising COVID-19 cases, says Nomura report

The Nomura India Business Resumption Index (NIBRI), which is a weekly tracker of the pace at which economic activity normalises, remained broadly unchanged at 70.1 for the week ending July 26, over the previous week.

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Increase in AI intensity by 1 unit can lead to 2.5 per cent increase in GDP: ICRIER

The economic effects of AI also include indirect effects on productivity, the Indian Council for Research on International Economic Relations (ICRIER) said in the report titled 'Implications of AI on the Indian Economy'.

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Rising COVID-19 cases: Report says India's FY21 GDP to contract by 6 per cent

If the global economy has to wait for a vaccine against the virus for a year, India's real GDP will contract by 7.5 per cent in FY21, Bofa said.

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Falling imports, moderate crude to help post 0.4% current account surplus, first since FY04: Study

After many quarters, the economy logged in a marginal current account surplus in June quarter at 0.1 per cent or USD 600 million as against a deficit of USD 4.6 billion or 0.7 per cent of GDP in FY19, according to the latest Reserve Bank data. For fiscal 2020, CAD improved to 0.9 per cent of GDP from 2.1 per cent in FY19.

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Technew

Jaden ‘Wolfiez’ Ashman from Essex is the youngest esports player ever to win a million dollars.

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Industry has to find new ways to finance infrastructure projects: RBI Governor

“On financing options for infrastructure, we are just recovering from the consequences of excessive exposure of banks to infrastructure projects,” Das said.

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Fortnite's British teenage millionaire: One year later

Jaden ‘Wolfiez’ Ashman from Essex is the youngest esports player ever to win a million dollars.

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India Inc comes up with sector-wise guidelines to coincide with phase 3 of Unlock

The recommendations range from a ‘safe corridor’ between two countries to gaps between movie timings to ensure no crowd build-up at theatres, according to the Federation of Indian Chambers of Commerce & Industry (FICCI) report released on Monday.

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Indian rice exports slow as coronavirus disrupts supply chain and leads to labour shortage

Kakinada is located in East Godavari district of the southern state of Andhra Pradesh - a district that has been reporting more than 1,000 new virus infections every day - accounts for more than a quarter of India's rice shipments.

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How a Chinese agent used LinkedIn to hunt for targets

Dickson Yeo, a PhD student-turned-agent, targeted Americans that had access to private information.

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Technew

Dickson Yeo, a PhD student-turned-agent, targeted Americans that had access to private information.

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Dynamic shifts underway that will shape the future of India's economy: RBI Governor

In his interaction with the CII, the governor focussed on five areas where India can leverage its strengths and position itself as a leader in the league of global players.

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Technew

The airport has installed a number of tech-based measures to help keep travellers safe.

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India amends its accounting standards, major relief for entities like airlines & retail chains

These changes to Ind AS will allow companies to show the Covid rental concessions in their P&L accounts. The move comes as a huge relief for airlines or retail chains that have many assets or properties on hire. Until now, if any terms and conditions of an existing lease contract changed, then it would have to be treated as a new lease contract.

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Heathrow Airport brings in robots to fight coronavirus

The airport has installed a number of tech-based measures to help keep travellers safe.

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Wiley: Priti Patel probes Twitter and Instagram delay in removing 'appalling' posts

The home secretary says anti-Semitic posts should be taken off Twitter and Instagram more quickly.

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Huawei holds summit as global pressure grows

The event comes after China's state media said HSBC played a role in the arrest of Huawei's finance chief.

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Hong Kong launches share index of technology giants

Investors will now have greater access to Chinese tech firms including Alibaba, China's answer to Amazon.

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Technew

The home secretary says anti-Semitic posts should be taken off Twitter and Instagram more quickly.

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Technew

The event comes after China's state media said HSBC played a role in the arrest of Huawei's finance chief.

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Technew

Investors will now have greater access to Chinese tech firms including Alibaba, China's answer to Amazon.

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India Inc seeks a boost in public infrastructure funding to tide over the pandemic

A combination of borrowings from central public sector enterprises (CPSEs) and central government could be considered to finance the stimulus, which in turn could be channelled into relevant projects, said the industry body. The suggestions came on the back of findings from an industry-wide survey which showed that businesses fear negative top-line growth and economic impact due to the Covid-19 pandemic to extend to the next three quarters or more.

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With renewed focus on US, EU and UK, India looks to reset FTAs, exit fruitless deals

“All options are on the table… There is a view that if any trade agreement has not worked out as expected, we should also look at exiting such a deal,” one official said, adding that a final call on the future strategy for such arrangements would be taken at the highest level.

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Action against risky exporters who attempted to claim Rs 2,020 cr IGST refunds: FinMin officials

The number of untraceable risky exporters has gone up to 1474 as on date, which includes 7-star exporters, the officials said, adding that IGST refund in the cases have been suspended.

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