ECONOMY
Android bug fear in 900 million phones
08.08.16 - TEAM PT

A new Android flaw has been reported by security researchers that is claimed to affect roughly 900 million Android devices. Check Point mobile research team first reported the issue and claims that it affects all devices using Qualcomm chipsets.

Found in devices running Qualcomm processors, QuadRooter ...
  


Mercedes-Benz asks SC to lift ban on diesel cars
08.08.16 - TEAM PT

Automobile giant Mercedes-Benz has moved the Supreme Court asking for the ban on diesel vehicles to be lifted. The German car manufacturing firm said it was ready to pay the environmental cess of 1% levied on the sale of diesel cars.

This move by Mercedes comes ...
  


Myntra acquires Jabong; the e-commerce fight in India continues
26.07.16 - TEAM PT

The race to acquire Jabong finally came to an end on Tuesday after Flipkart announced acquiring Jabong, the country's second largest online fashion retailer, for an undisclosed amount.

The acquisition was done through Myntra, the largest online fashion retailer that Flipkart bought two years ago.

Other contenders ...
  


Nitin Gadkari offers land to Tesla for an Indian manufacturing unit
16.07.16 - TEAM PT

Less than a year after Prime Minister Narendra Modi visited Tesla’s state-of-the-art factory in Fremont, California, his government has invited American electric carmaker to set up a manufacturing hub for South and South East Asia in India.

Transport minister Nitin Gadkari who is visiting US has ...
  


Govt. Employees Get 24% Raise; 7th Pay Commission's Views Accepted
29.06.16 - Team PT

Salaries and pensions for former and current central government employees will go up by nearly 24 percent retroactively from the start of this year. 
 
In a bonanza for over 1 crore government employees and pensioners, the Cabinet on Wednesday approved implementation of the 7th Pay Commission, ...
  


E-Commerce: Convenience Built on a Mountain of Cardboard
20.06.16 - Matt Richtel

Ruchit Garg, a Silicon Valley entrepreneur, says that he worries that something isn’t right with his Internet shopping habit. With each new delivery to his doorstep — sometimes several in a day — he faces the source of his guilt and frustration: another cardboard box.

Then, ...
  


Warning! WhatsApp Gold is Malware, will steal private photos
26.05.16 - team pt

As soon as an app or service is popular, cyber criminals try to take advantage of users through it. WhatsApp is now falling prey to such criminals, who have come up with something called WhatsApp Gold. However, in reality WhatsApp Gold is a scam aimed ...
  


RBI stops the supply of 1,000 denomination notes printed without thread
03.05.16 - pt team

The banknotes of 1,000 denomination that were printed without security thread are genuine, but defective, and issuance of all such banknotes of the series is stopped from circulation, Parliament was informed today.
 
It's one of the RBI's regional offices that had reported on December 11, 2015, ...
  


No plans to return to India,I am in‘forced exile’:Mallya
29.04.16 - pt team

Embattled tycoon Vijay Mallya has said he is in a "forced exile” and has no plans to return to India where things are flying at him "fast and furious.”

Mallya, whose passport was revoked this month, said he wanted a "reasonable” settlement with creditor banks for ...
  


India asks UK to deport Vijay Mallya
28.04.16 -

India said on Thursday it had asked Britain to deport Vijay Mallya, the liquor tycoon who flew to London last month as bankers pressed him to repay about $1.4 billion owed by his defunct Kingfisher Airlines.
 
According to a report by Reuters the Ministry of External ...
  


Jaitley stays firm against Jewellers
10.04.16 - pt team

Refusing to relent on excise duty levy on non-silver jewellery goods, Finance Minister Arun Jaitley today said a "luxury item" cannot remain out of tax ambit when taxes need to be paid on many essentials.

A large section of jewellers and bullion traders have been on ...
  


Defaulters Should Not Be Named And Shamed : Raghuram Rajan
05.04.16 - pt team

RBI Governor Raghuram Rajan has advocated on Tuesday that the Supreme Court should keep confidential the list of defaulters that owe Rs 500 crore or more to public sector banks. 

Citing the example of credit card default, Dr Rajan said, "Sometimes you default on your credit ...
  


Tobacco Companies Shut Factories; Opposing Cigarette Larger Pictorial Warnings
01.04.16 -

Major cigarette manufacturers including ITC, Godfrey Philips and VST have decided to shut all their factories and stop manufacturing with effect from today in the wake of larger pictorial warnings covering 85 per cent of the packaging space coming into force. 

The companies, which are members ...
  


Vijay Mallya's Offer Via Video : Can pay Rs.4,000 Crore By September:
30.03.16 - pt team

Vijay Mallya has made an offer to banks struggling to recover more than Rs 9000 crores from his Kingfisher Airlines: he will arrange to repay 4,000 crores by September. His lawyers submitted a copy of the details to the Supreme Court today, which has given ...
  


SC allows SEBI to sell Sahara properties worth Rs 40,000 cr
29.03.16 -

The Supreme Court on Tuesday asked the Securities and Exchange Board of India (Sebi) to initiate the process of selling 87 "unencumbered" properties of Sahara group, whose title deeds are with the market regulator, to generate the bail money for release of its chief Subrata ...
  


NaMo Under Fire As Middle Class India Still Awaits 'Achche Din'
23.03.16 - pt team

Sharp rises in education and healthcare costs in the last two years have hit India’s burgeoning middle class hard, denting Prime Minister Narendra Modi’s popularity among the relatively well-off ahead of a series of state elections.
 
Price increases for services deemed a luxury for most Indians ...
  


Indians stowed nearly Rs 12.5 lakh crore in black money overseas?
21.03.16 - pt team

A new black money estimate calculated by senior economists of the Bank of Italy has pegged Indian's undeclared assets parked overseas in tax havens to be between $4 billion (nearly Rs 27,000 crore) and $181 billion (nearly Rs 12.05 lakh crore) according to two different ...
  


Silicon Valley's hopes on India
20.03.16 - Shashank Bengali*

In a crowded convention hall, young entrepreneurs practically shouted their ideas: an online marketplace for yoga instructors, an app to share songs in 30-second snippets, a mobile lunch delivery service aimed at office workers.

For any veteran of the go-go era in Silicon Valley, the buzz ...
  


Spelling mistake stops hackers stealing $1 billion in Bangladesh bank heist, still get away with $80 million
16.03.16 - Serajul Quadir*

A spelling mistake in an online bank transfer instruction helped prevent a nearly $1 billion heist last month involving the Bangladesh central bank and the New York Federal Reserve, banking officials said.
 
Unknown hackers still managed to get away with about $80 million, one of the ...
  


Rs. 46000 crore : CAG charges Six Telecom Operators of hiding revenue
12.03.16 - pt team

The Comptroller & Auditor General of India (CAG) alleged that six telecom operators —Bharti Airtel, Vodafone India, Idea Cellular, Reliance Communications, Tata Teleservices and Aircel — had collectively understated gross revenue amounting to Rs 46,045.75 crore between 2006-07 and 2009-10, causing a loss of Rs ...
  



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