BUSINESS
India's oil imports MoM remains flat in April
India imported 18.26 million tonne (mt) of crude oil paying about $8.5 billion in April 2021, almost the same level as 18.24 mt tonne crude oil import in March, 2021, according to Petroleum Planning and Analysis Cell (PPAC) data.
Applying Sun Tzu's strategies to the business world
Business is a fight for survival. In business as in war, leaders match their wills in pursuit of opposing outcomes; they devise strategies and marshal resources for victory. Success can turn on the smallest of details; a single tactical blunder can topple an empire. Ultimately, one side triumphs - and victory is all that matters.
Epic vs Apple: Judge grills Tim Cook as he offers mild replies
When asked what the problem is with allowing users to have choice, especially in a gaming context, to have a cheaper option for content, Cook replied: "I think they have a choice today. They have a choice between many different Android models of smartphone or an iPhone, and that iPhone has a certain set of principles behind it, from safety and security to privacy".
Air India's passenger info compromised in global data breach
According to industry sources, the data breach has impacted other global airlines as well. Recently, systems of SITA PSS came under a cyber-security attack leading to personal data leak of certain passengers. The vendor is responsible for storing and processing of personal information of the passengers. In a statement on Friday, Air India said the incident has affected around 4,500,000 data subjects in the world.
Sovereign Gold Bond Scheme-II to be issued at Rs 4,842 per gm
The settlement date under the Series II scheme has been fixed for June 1, 2021. The government in consultation with the Reserve Bank of India has decided to allow a discount of Rs 50 per gram from the issue price to those investors who apply online and the payment is made through digital mode.
US officials rushed to defend Amazon biz practices in India: Report
The global news wire reported that emails obtained through the US Freedom of Information Act from the office of the United States Trade Representative (USTR) showed that US officials prepared a note for John Kerry, a top envoy of President Joe Biden, about the February 17 report. The note, contained in an email dated February 18, said that India's antitrust watchdog had reviewed many such allegations against US e-commerce companies.
46% of businesses in India saw rise in fraud amid pandemic: Report
According to data analytics company Experian, despite the growing risk of fraud, 40 per cent of Indian businesses indicate that they are placing more emphasis on revenue generation rather than fraud detection, which can lead to an increase in losses and a decline in customer confidence. Considering that 56 per cent of consumers in India cite online privacy as a significant concern,
Indian chairperson, CEO or MD must for insurance Cos with FDI
Government has notified the Indian Insurance Companies (Foreign Investment) Amendment Rules, 2021 that makes appointment of resident Indian citizen mandatory, at least one amongst the chairperson, managing director or Chief Executive Officer. The new rules, which will also apply to existing insurers with FDI, also said that foreign investors' direct and indirect investments will be counted as prescribed under regulations.
Europe approves SK hynix's acquisition of Intel's NAND biz
SK hynix said late on Friday that it received unconditional clearance from the European Commission for its takeover of Intel's non-volatile memory unit. Last October, SK hynix signed a deal to buy Intel's NAND business for $9 billion, which includes the US firm's solid state drive business and a NAND flash chip plant in Dalian, China.
Realty recovery face challenges amid 2nd Covid wave
Sales and construction in the sector have come to a near halt. Developers and experts have sought relief amid these tough times including additional liquidity support. Axis Ecorp CEO & Director Aditya Kushwaha said: "Just when recovery was in sight, the second wave has derailed the growth momentum for the real estate industry.
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