Author: News Desk
Tesla is gearing up to make its entry into the Indian market, and there are strong indications that the electric car manufacturer’s inaugural production facility in the country will be established in the state of Gujarat next year. Negotiations for Tesla’s first manufacturing unit in India are in the final stages, and reports suggest that the formal announcement may occur during the upcoming Vibrant Gujarat Summit in January 2024. Gujarat, located in the western part of India, has been a favored location for businesses, already hosting manufacturing units for major automakers like Maruti Suzuki. Potential sites for Tesla’s manufacturing plant…
Prime Minister Narendra Modi inaugurated and initiated projects worth INR 1,150 crore in the Union Territory of Lakshadweep. These projects, launched in the presence of numerous islanders, include the Kochi-Lakshadweep Islands Submarine Optical Fibre Connection (KLI-SOFC) project. Announced during Modi’s Independence Day speech in August 2020, this initiative aims to address the challenge of slow internet speed in Lakshadweep by increasing it from 1.7 Gbps to 200 Gbps. The connection through a submarine optical fibre cable signifies a significant upgrade in communication infrastructure, benefiting internet services, telemedicine, e-governance, education, digital banking, and literacy in the islands. Additionally, the Prime Minister…
In a strategic move to revolutionise the global ecommerce landscape, Binny Bansal, co-founder of Flipkart, has unveiled his latest venture, OppDoor. This Singapore-based startup is set to empower ecommerce brands in expanding their reach across international online marketplaces such as Amazon and Etsy, facilitating more effective utilisation of these platforms for global sales. Despite multiple attempts, Bansal was unavailable for immediate comments on his new venture. Seamless Global Expansion with OppDoor OppDoor stands as a beacon for ecommerce brands aspiring to make a mark on the global stage. The startup offers a comprehensive suite of services aimed at streamlining the…
X, the social media platform formerly known as Twitter, is reintroducing news headlines in user posts, overturning a modification implemented by owner Elon Musk. In October, Musk announced alterations to how links to news posts would appear in users’ feeds, eliminating headlines and accompanying text alongside images. The revised format displayed only the lead image of most linked articles, with a small link to the outlet’s web address for identification. Musk had earlier expressed his intention to remove headlines in August, citing a direct aesthetic improvement initiative on his part. Critics contended that the removal of headlines made it challenging…
Shweta Bachchan, born on 17th March, is the daughter of Bollywood legends Amitabh Bachchan and Jaya Bachchan, and the elder sister of Abhishek Bachchan. In 1997, she married Nikhil Nanda, a businessman associated with Escorts Group. Despite not pursuing a career in Bollywood, Shweta Bachchan has made a mark in various fields. Her diverse accomplishments include serving as the brand ambassador for Kalyan Jewellers and modeling for L’Officiel India in 2006. Shweta has also contributed as a columnist for leading publications like Daily News and Analysis and Vogue India. Her book, “Paradise Towers,” published by HarperCollins, achieved bestseller status. Beyond…
The Life Insurance Corporation of India (LIC) disclosed to the exchanges that it has received a tax notice amounting to INR 806 crore from the Deputy Commissioner of State Tax, Mumbai. The notice pertains to the non-reversal of input tax credit availed from reinsurance during the financial year 2017-18, as indicated in the exchange filing. The tax notice breaks down as follows: the goods and services tax (GST) charged is INR 365 crore, accompanied by a penalty of INR 404.77 crore and an interest charge of INR 36.5 crore, totaling nearly INR 806 crore. Despite the substantial amount, the filing…
The Telecom Regulatory Authority of India (Trai) is taking proactive measures to protect the public from fraudulent activities by issuing a warning to telecom service providers. Trai Secretary V Raghunandan has emphasised the increasing prevalence of deceptive messages claiming to be from Trai, leading to financial frauds. In response, Trai is set to launch an advisory campaign to caution the public and raise awareness about these deceptive practices. Trai’s Concerns V Raghunandan expressed concern about the rising number of fraudulent messages exploiting the name of Trai. He highlighted the urgency of alerting subscribers to prevent further incidents of fraud. In…
Bitcoin has made a strong comeback, reaching a milestone above $45,000 on Tuesday, marking its highest point since April 2022. The surge follows an exceptional 2023, during which Bitcoin exhibited a remarkable 154% gain, showcasing its strongest performance since 2020. Despite this positive momentum, it is important to note that Bitcoin is still a considerable distance from its all-time high of $69,000 recorded in November 2021. Optimism Fueled by Exchange-Traded Spot Bitcoin Funds The driving force behind Bitcoin’s recent surge is the prevailing optimism surrounding the potential approval of exchange-traded spot bitcoin funds (ETFs). Investors are eagerly awaiting a decision…
In a clash between Fast-Moving Consumer Goods (FMCG) distributors and Hindustan Unilever (HUL), distributors express discontent and resistance against the company’s recent adjustments to the margin structure. Allegations are rife that HUL is pursuing a profit-centric agenda at the expense of its distributors. The All India Consumer Products Distributors Federation (AICPDF) has raised concerns about HUL’s decision to reduce distributor margins, particularly in the face of sluggish sales growth and challenging market conditions. According to reports, HUL, the conglomerate behind popular brands like Lux, Lifebuoy, Surf Excel, Rin, Pond’s, and Dove, has implemented a 60 basis points reduction in fixed…
In a landmark decision signalling a commitment to environmental conservation, Dubai has announced a comprehensive ban on single-use plastic bags and products within the emirate, effective January 1, 2024. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, issued the resolution on the eve of the new year, emphasising the emirate’s dedication to fostering sustainable practices. Extensive Ban Coverage The ban is not limited to traditional single-use plastic items but extends to include a broad spectrum of disposable and recycled products, encompassing both plastic and non-plastic materials. This progressive move encompasses…