The Tata group is close to acquiring Wistron's $600-million factory in southern Karnataka by next month, according to reports. The Wistron unit makes iPhones for the Cupertino-based company. Sources said that Wistron will continue to provide the Tatas technical know-how on assembling the phone and keep back some personnel during the transition process.
If viewed rationally, the report should, thus, somewhat defuse the panic around "unique levels" of corruption in India, revealing that the country and its private sector have relatively robust processes in place, allowing for the eventual revelation of corrupt practices.
In his post, Vaishnaw said Apple has also claimed that Apple IDs are securely encrypted on devices, making it extremely difficult to access or identify them without the user's explicit permission.
Apple Inc has announced the India prices of the new variants of its bestselling smartphones - launched on Tuesday - as it assembles the device in the country. The new iPhone 15 range starts at Rs 79,900 for the 128 GB variant (the same price as the iPhone 14 when it was launched last year) and goes up to Rs 199,900 for the top-end Pro Max with a 6.7 inch screen and 1 TB (terabyte) storage. The world's most valuable company also launched three new upgraded Apple watches, starting with the SE at Rs 29,900 and going up to Ultra 2 at Rs 89,900.
CEOs have complained that high interest rates have blocked their investment decisions. At the same time, customers are also deferring their purchases for new consumer durables, cars, and homes.
During the hearing, petitioner Upadhyay submitted that while individuals cannot seek vote in the name of religion or caste, political parties can be formed using religious connotations which cannot be permitted.
'We will see a lot of investments from the private sector.' 'As long as we are not impacted by some global events, I think we will be in a strong place.'
Corporate India at present is more indebted than all state govts put together.
'We failed as a country because those who should have been there to say goodbye did not show up.'
RBI moves will further add to corporate woes. Harsh Mariwala, the president of industry body Ficci, said, "I am afraid that with such a hawkish monetary stand, the investment environment would become even more difficult. Growth and employment targets will certainly not be achieved."
Mukesh Ambani, the patriarch of Reliance Industries (RIL), and Gautam Adani, the chairman of Adani Group of companies, have secured the top positions on the Fortune India Rich List, created in partnership with Waterfield Advisors, with respective wealth of $99.7 billion and $63.71 billion. With a wealth of $34.6 billion, the Mistry family of Shapoorji Pallonji Group holds the third position on the list, while the Poonawalla family, owners of vaccine maker Serum Institute, with a wealth of $32.9 billion, stands fourth. Stockbroker and founder of D-Mart-branded grocery stores, Radhakishan Damani, claims the fifth spot on the India Rich List with a wealth of $23.4 billion
CERT-In has started its probe in the Apple threat notification issue raised by opposition MPs, and a notice has been sent to the company, IT Secretary S Krishnan said on Thursday.
Individuals will have to wait for some more time; RBI may do away with mid-quarter policy reviews.
Instagram, owned by the tech giant Meta, on Wednesday, unveiled its new app called 'Threads' a new app designed to directly compete with Elon Musk's Twitter. According to The Hollywood Reporter, a US-based media house, Meta Platforms Inc. CEO Mark Zuckerberg announced the launch, framing Threads as "a new, separate space for real-time updates and public conversations." Threads will be linked to users' Instagram profiles, making it simple to connect with followers, prominent personalities, or brands.
Trinamool Congress MP Mahua Moitra on Wednesday wrote to Lok Sabha Speaker Om Birla flagging alerts received by several opposition leaders about 'state-sponsored' attacks on their iPhones, and urged him to provide them protection to continue doing their duties.
With the government considering a new Bill to make the Indian Institutes of Management answerable to Parliament, India Inc leaders say the time has now come to grant complete autonomy to these institutes.
Across the country, companies have stepped up their act to contain the crisis. IT and other new economy firms seem to have taken a lead.
As if wanting to be an antidote to the coronavirus pandemic, the Indian stock market adorned carnival robes in 2021 with a tsunami of liquidity unleashed by global central banks coupled with supportive domestic policies and the world's largest vaccination drive sparking off a world-beating rally on Dalal Street, despite bouts of uneasiness over fizzy valuations. While the wider economy shuttled between recovery and relapse, dictated by multiple mutations of the virus, equity market benchmarks appeared headed in just one direction -- skywards. The dizzying upward journey has added a whopping Rs 72 lakh crore during 2021 to investors' wealth, measured as the cumulative value of all listed shares in the country, taking it to nearly Rs 260 lakh crore.
The earnings are, however, expected to be down around 2 per cent on a sequential basis due to pent-up demand getting exhausted and the adverse impact of rising metals and energy prices on consumer goods and manufacturing companies.
At a time when the overall narrative is around India being an attractive investment destination, the two American multinationals are more specific in projecting India as their centrepiece.
This analysis is based on the quarterly earnings for 724 companies.
'Being financially independent is crucial.' 'This spares women a lot of grief if the marriage, especially in large business families, breaks down.'
Antony, along with his wife Elizabeth, reached Chandy's residence in Thiruvananthapuram to bid adieu to his trusted lieutenant during trying times of their decades-long political career.
The immediate concern for all companies is to prepare themselves - and their vendors and suppliers - for the new GST return filing mechanism, being test piloted from April 1.
Interrupting a two-month streak of decline, outward foreign direct investment (FDI) rose sequentially to $1.85 billion in July over $1.07 billion in June, an increase of 73 per cent. However, it was lower than the $2.18 billion in July last year, according to the Reserve Bank of India data. Outbound FDI, expressed as financial commitment, has three components - equity, loans, and guarantees.
India Inc's order book has more than doubled to an all-time high of Rs 73,320 crore in the second quarter of the current financial year, compared to the first quarter.
Corporates understand that the PMO drives all key decisions in this government.
Industry chamber Confederation of Indian Industry said successive hikes in interest rates have had a dampening impact on industrial growth.
Talking corporate heads are a barometer of the business community's engagement with the economy. If they have nothing to say now there should be cause for concern.
The rumour verification process would now be triggered by changes in price or 'material price movements', as the paper defines it. What this means is that companies would need to verify rumours only if the share price moves significantly.
From being a net earner of foreign exchange ten years ago, India Inc turned into a net spender of forex.
Business leaders, among others, ask govt to let go of fiscal target, seek stimulus, and direct cash transfer.
Transparency is more than welcome, but govt should not look vindictive.
India Inc on Tuesday described Finance Minister Pranab Mukherjee as industry's Sachin Tendulkar saying the veteran leader was steering the economy "with ease of a seasoned player" in difficult times.
Women leaders, succession planners and lawyers say doors in family businesses are opening but a stronger push is needed.
The first spending item on the chopping block is capital expenditure, followed by operating costs and overheads, including sales and marketing expenses.
Our caste warriors will not even ask these questions, let alone explore better solutions to address the problems of inequality and skewed life outcomes, argues R Jagannathan.
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