The Reserve Bank on Wednesday allowed inbound travellers from G20 nations arriving at select airports to use the popular UPI for making payments in the country. Later, the RBI also proposes to extend the Unified Payments Interface (UPI) facility to travellers from all countries. UPI is a system that powers multiple bank accounts into a single mobile application, merging several banking features, seamless fund routing & merchant payments into one hood.
If completed, the 50-50 joint venture would value Reliance Communications' cable assets at $1 billion, the newspaper said, adding Citic Telecom beat out two other bidders from West Asia earlier this month.
'Our villagers used to go up to Finger 4 and Finger 6, but today the Chinese are there.' 'Since April 2020, Chinese troops have blocked Indian troops from reaching at least ten patrolling points running from the Depsang plains in the north to Pangong Tso lake in the south.'
China has flight tested an upgraded version of its 10,000-km range Dongfeng missile which can reach most of the US and European cities, demonstrating its nuclear capability, media reports said.
Indian citizens in Eastern China Region may apply at the Embassy of India, Beijing for availing urgent consular services, the Consulate said in a notice issued on Tuesday.
A pan-India 'fraud-to-phone' network has been busted by security agencies, which have also arrested eight people and seized nearly 300 new mobile phones bought with stolen funds, officials said on Tuesday. Moreover, 900 mobile phones, 1,000 bank accounts and hundreds of unified payment interface (UPI) and e-commerce IDs of this gang have been identified and are under investigation. Nearly 100 bank accounts, and debit and credit cards have been frozen by the security agencies so far, officials said.
Private equity investments into domestic companies fell sharply year-on-year by 42 per cent to $23.3 billion in 2022, which is the lowest since 2019, when it was $15.8 billion, according to an industry report. The numbers reflect the overall funding winter that the startup space in particular, and the overall foreign investments in general have been witnessing since the Ukraine war began last February. Private equity investment inflows into the country fell by a sharp 42 per cent in 2022 from last year to $23.3 billion -- the lowest annual inflows since 2019 when it was a low $15.8 billion, but still relatively elevated compared to historical levels, said Elaine Tan, a senior analyst at Refinitiv, the LSEG business arm that provides financial markets data and insights.
Both are finding it difficult to sell one each of their plants -- Chennai Maraimalai Nagar (Ford) and Talegaon near Pune (GM) -- and are finding the road blocked by employee severance snarl-ups, report Sohini Das and Shine Jacob.
China on Monday evaded queries on its role in the departure of ex-Central Investigation Agency operative Edward Snowden from Hong Kong even as it asked United States to explain the whistleblower's revelations of American cyber attacks on Chinese institutions.
Spokesmen for Huawei in Brussels and London were not immediately available for comment. Representatives of the company in Madrid did not immediately respond to requests for comment.
China has unveiled its latest surface-to-air missile system for the first time coinciding with President Xi Jinping's four-nation tour, including India.
The onslaught of Chinese mobile brands is virtually obliterating Indian brands, especially in terms of value. According to industry estimates based on excise and Custom duty trends, the value share of Indian brands (across smartphones and feature phones, operator phone sales - which is mostly Jio phones - and the value of phones smuggled into the country) has dropped to a mere 1.2 per cent in January-October 2021 compared to 25.4 per cent in the calendar year 2015. In the same period, the Chinese have established their domination, hitting a value share of 64.5 per cent, up from 17.8 per cent.
There is uncertainty in most investors' minds as to whether China is transitioning to a new growth model or simply collapsing.
At least 32 people were jailed in China on Friday, three of them for life, for downloading and spreading terror-related audio and video as authorities crackdown on militants groups in the restive Xinjiang province, which they say are behind recent attacks.
Without Google's Android operating system, Huawei may have to put off new launches.
Chinese mobile giant VIVO have pulled out of their sponsorship of this year's Indian Premier League to be staged in UAE, according to reports on Tuesday. VIVO is IPL's title sponsor paying Rs 440 crore annually for the five-year deal.
India, Japan and the Unoted States on Friday kicked off their marine war games, Malabar Exercise, close to the South China Sea as they focus on deeper military ties and greater interoperability amid rising tensions in the region.
China has overtaken the US as the world largest online retail market with $442 billion compared to US.
With a million-odd electric vehicles (EVs) - two-wheelers, e-rickshaws, buses and passenger cars - expected to hit the road this calendar year, the shift from gasoline-powered vehicles has become irreversible. Now the question is whether the supply chain is ready for this shift. Key components - the high-powered lithium-ion battery and the cells which go with it, the electric motor, and the electronics powered by chips - account for nearly 60 per cent of the cost of an EV.
Despite Beijing reporting just 51 new cases on Wednesday, China's capital tightened Covid restrictions as it battled an outbreak.
A joint venture of the Indian conglomerate Vedanta and Taiwanese electronics manufacturing giant Foxconn signed a memorandum of understanding with the Gujarat government on Tuesday to set up a semiconductor and display manufacturing unit in the state.
Defeats in sports dominated by China at previous Olympics have left the country in an unfamiliar third place on the medals table, with some predicting that Rio 2016 could witness the lowest haul in two decades.
The company may offer phones at around Rs 20,000, less than half the starting price of Apple handsets.
What was the need for Xi Jinping, general secretary of the Chinese Communist Party, President of the People's Republic of China and Chairman, Central Military Commission, to don the new role of Commander in-Chief? Does this mean that the most powerful Chinese leader since Mao faces numerous threats from within the Communist Party?
The largest e-commerce entity of China is setting up its first India office -- an indication that it intends to capture a pie of the growing e-commerce market here. Raghavendra Kamath & Alnoor Peermohamed report.
'The Olympic Spirit has been thrown to the wind in Xi Jinping's China.' 'The International Olympic Committee is ready to kowtow to totalitarian China,' notes Claude Arpi.
The Congress released a booklet 'Nau saal, Nau sawaal', asking nine questions from Modi. The BJP rejected the Congress' criticism as a 'bundle of lies and mountain of deception' and said the questions are born out of 'pathological hatred' of the PM.
The China auto show saw some amazing models being rolled out, some for the first time. Rajesh Karera/Rediff.com picks the best of the lot.
This is part of the nine memorandums of understanding (MoUs) worth Rs 5,027 crore, including Hero Group-backed Ather Energy's over Rs 600 crore investment, to establish a manufacturing facility for e-vehicles.
The CSI300 of the leading Shanghai and Shenzhen A-share listings has lost almost 11 per cent this week.
The IMF on Tuesday cut India's economic growth forecast by 0.5 percentage points to 9 per cent for the current fiscal year, with its chief economist Gita Gopinath saying that the slight downgrade is mainly due to the impact of the spread of the Omicron variant. "If you look at the 2021-22 fiscal year, we have a slight downgrade of -0.5 percentage points and for the next fiscal year 2022-23 we have a slight upgrade of 0.5 percentage points. So, growth for the previous fiscal year is now nine per cent and for this year now is at nine per cent. We moved it up slightly," Gopinath told reporters during a news conference in Washington. In its latest update of World Economic Outlook on Tuesday, the International Monetary Fund has cut India's economic growth forecast to 9 per cent for the current fiscal year ending March 31, joining a host of agencies which have downgraded their projections on concerns over the impact of the spread of Omicron on business activity and mobility.
Germany-based Mutares SE & Co will acquire 80 per cent controlling stake in Mahindra & Mahindra's French unit Peugeot Motocycles. In a statement, the Mumbai-based auto major on Thursday said Mutares has submitted an irrevocable binding offer to acquire 50 per cent of equity and a controlling stake of 80 per cent in France-based Peugeot Motocycles (PMTC). As part of the deal, Purple, a fully-owned entity of Mutares Holding, would invest 7 million euros in PMTC, which would entitle it to a 50 per cent shareholding and 80.01 per cent voting rights in the French firm.
China's information and telecommunication industry witnessed rapid growth in 2003 with impressive performances reported from hardware, software and mobile phone sectors, the ministry of information industry said.
From smart cities to gold, the fallout of the Chinese meltdown will have far-reaching consequences
China on Friday inaugurated its second railway line in Tibet, built at a cost of $2.16 billion, close to Indian border in Sikkim, enhancing mobility of its military in the remote and strategic Himalayan region.
In 2005, the Border Road Organisation was asked to construct 73 roads in the strategically important regions along the Sino-India border but there has been huge delay in implementation of the project which has apparently left the army unhappy.
as the FAME II deadline of March 31, 2024, nears, EV manufacturers are worried about their investments and future plans.
That means a manufacturer looking at a market like India needs to decide whether small, cheap cars or small, expensive cars or both will work better for them, says Pavan Lall.
UK-based GlobalLogic, a leading offshore software development company, plans to acquire two to three companies in the outsourcing product development (OPD) space in emerging markets like India and China as well as established markets. The company is particularly exploring an acquisition in south India.
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