5 Minutes Read

Industry urges govt to leverage ongoing trade negotiations to seek better overseas market access

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The ministry stressed on the importance of leveraging ongoing free-trade agreement (FTA) negotiations with the United Kingdom to seek better market access, branding of services sectors and promotions through road shows, robust mechanism for reporting of data related to services, skilling of manpower and redressal of regulatory bottlenecks.

A brainstorming session on Services Exports was organised by the Union Commerce Ministry to discuss the challenges and opportunities to boost services exports from India.

The ministry stressed on the importance of leveraging ongoing free-trade agreement (FTA) negotiations with the United Kingdom to seek better market access, branding of services sectors and promotions through road shows, robust mechanism for reporting of data related to services, skilling of manpower and redressal of regulatory bottlenecks.

The session organized in partnership with Services Export Promotion Council (SEPC) was attended by around 100 participants from various service sectors including IT & IT enabled services, communication services, entertainment, audio-visual services, tourism & hospitality, medical value travel, education services, accounting and finance services, financial services, legal services, transport & logistics services, construction and related engineering services and environment services.

Also read: NPCI cleared to acquire 10% stake in e-commerce network ONDC

SEPC Chairman Sunil Talati told CNBC-TV18 that the industry is looking for concessions for India’s accounting, financial services and legal services in the upcoming FTA with the UK. He pointed out that the United States, Australia, Canada, United Kingdom and New Zealand are the top five destinations for India’s service exporters; while the Philippines, Vietnam and South Africa are India’s biggest competitors.

He said that the SAARC nations and Europe are being targeted by India’s medical services’ exporters, who are also competing with Turkey for a pie of the Middle East and African markets. SEPC hasn’t yet presented any plan to avert double taxation for Indian professionals working abroad.

Commerce Secretary BVR Subrahmanyam underlined the importance of services sector as a key driver of country’s economic growth, assuring all stakeholders of full support in realising the full potential of service sectors by removing constraints.

Also read: Auto sector in cruise control ahead of festive season, suggests report

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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ASUS announces a 17.3-inch foldable laptop for $3,499

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

ASUS, on Wednesday, announced the launch of Zenbook 17 Fold OLED (UX9702), a 17.3-inch foldable OLED  laptop, and said that it will be priced from $3,499 and will roll out globally during the last quarter of 2022.

ASUS on Wednesday announced the launch of Zenbook 17 Fold OLED (UX9702), a 17.3-inch foldable OLED  laptop, and said that it will be priced from $3,499 (approximately Rs 2,80,000) and will roll out globally in the last quarter of 2022.

The foldable is powered by the latest 12th Generation Intel Core i7 processor, Intel Iris Xe graphics, 16 GB RAM and 1 TB storage. The Intel Evo-certified foldable laptop offers users two sizes of OLED displays in a single device — a large 17.3-inch 2.5K touchscreen with a refresh rate of 60 Hz that folds in the middle to create two seamless 12.5-inch 1920×1280 displays.

Also Read: Snap restructures ad business amid worst sales growth rate in its history

When folded fully closed along a 180 degree hinge — which, ASUS claims, is tested to withstand over 30,000 open-and-close cycles — it’s a compact and portable 12.5-inch device that’s “smaller than a sheet of photocopier paper”. The device is also accompanied by a powerful quad-speaker Harman Kardon-certified Dolby Atmos sound system.

Zenbook 17 Fold OLED comes with a full-size ErgoSense Bluetooth keyboard and touchpad, allowing use in Desktop mode, Laptop mode (with Bluetooth keyboard), Laptop mode (with virtual keyboard), Tablet mode, Reader mode or Extended mode. In each mode, the easy-to-use window management tools — such as Mode Switcher — in the ScreenXpert 3 app allow multiple split-display configurations and flexible app layouts.

According to a press release by ASUS, Zenbook 17 Fold OLED includes AI-powered features, including user-presence detection using an HD IR camera; an integrated colour sensor for automatic adjustment of screen brightness and colour temperature; and a 5 MP AI webcam with ASUS 3D Noise Reduction (3DNR) technology for clearer video calls. The device weighs just 1.5 kg without the keyboard or 1.8 kg with it.

Also Read: India to remove fare caps for domestic airlines from today: How it will impact travellers?

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Sohum Shah: For me, Bheema Bharti is not a villain

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

In this freewheeling interview, Sohum Shah discusses why he thinks Maharani season 2 is fireworks, his awkwardness in doing romantic scenes, his love for the show’s creator Subhash Kapoor, and more.

One of the hallmarks of a good show is that it has something for everyone. Maharani 2, which released recently on SonyLIV to much acclaim, lives up wonderfully to this expectation. It has a lot to offer through its 10-episode marathon run — a fictional take on Bihar’s messy political milieu, the coming of age of the wife of a jailed lower-caste chief minister, and a riveting power play for the coveted chief ministerial throne.

Sohum Shah, who rose to fame with his incredible 2018 thriller Tumbbad, plays Bihar CM Bheema Bharti, whose illiterate, utterly domestic wife Rani (Huma Qureshi) throws him behind bars over a fodder scam. With the second season, Shah proves his acting prowess once again. His Bheema is one of those rare characters that is every actor’s dream. He is both the hero and the villain. It’s anything but easy to play a leader who is layered and full of agendas that are not always noble, but Shah cakewalks through this tricky terrain with remarkable finesse.

 

Echoing an iconic dialogue from season 1, he says Bheema may be all kinds of grey, wo swarg nahi de paye, par swar toh diye hai. In this freewheeling interview, he talks about why he thinks Season 2 is fireworks, his awkwardness in doing romantic scenes, his love for the show’s creator Subhash Kapoor, and more.

Q. What was the one major difference in working on the two seasons?

It’s easy to crack the first season. You actually get to know about any series in its second season. Maharani’s season 1 was indie-commercial for me. This season, however, is an absolute blockbuster. For me, the first season was Bheema on khatiya. He was a one-dimensional character. People would talk that Bheema would do this and that, but he doesn’t get to do much at all. But in this season, he does a whole lot.

Acting has navras. Of the nine, you’ll get to see at least six-seven ras in Bheema this season. He is the villain. But he is also the hero with a full, overwhelming personal and professional life. You will get to see a lot more of Bheema this time around. Bheema of Season 2 is very complicated. The genre will jump multiple times — just when you think the story is going in one direction, it will take a surprisingly different turn.

In this season, both Bheema and Rani have a personal life, demanding public careers, and differing ideologies. All of it makes the second season very complex and interesting, and therefore it was all the more difficult for us to get it right.

Q. How has it been working with Huma Qureshi? How has your equation evolved over the two seasons?

Working with Huma was a pleasure. When we started shooting for Season 1, I was very uptight and she would always be energetic. Toh meri aise kuch khaas jama nahi thi shuru shuru mein. But as we continued to work together, we became friends. By the time we began shooting Season 2, we started understanding each other better, and why we were doing certain scenes the way we were.

As an actor, Huma has a gift — she will keep on talking and joking around on the set but the minute the camera turns on, she would become Rani Bharti. The ease with which she does it surprises me every time. I really like this about her. Moreover, acting is all about reacting. When you have such a terrific co-actor, it rubs off you and makes your work a whole lot easier.

I’ll tell you something interesting. Our chemistry is great when we are fighting but not so much in the romantic scenes. Mujhe bohot gaaliyan padi hai. That initial scene in the first season, in which Rani is angry with Bheema and he is trying to cajole her, and she finally sends him to milk a cow, Subhash Sir didn’t like it at all. He called me separately to ask if something was wrong with me. He later announced that iss aadmi ka romance mein haath tight hai, he can’t do romantic roles. But I’ve tried to do better this season.

Q. What was the most difficult bit about shooting season 2?

The speech that you see in the trailer. It was very difficult for me. It’s easy to shoot regular scenes; someone talks and you respond. Par wo jo speech thi na, usme meri jaan nikal gayi. But Subhash Sir supported me a lot. He taught me, showed me how to do it, and stood in the audience. I would look at him when addressing the crowd and he would tell me from there what to do and what not to do. My interpretation of Bheema was that of a soft politician. But he wanted him to be aggressive. So it took me a lot of hard work to crack that speech. After we were done, I asked Subhash Sir what he thought about it. He laughed and said, “Ab aaya na ooth pahad ke neeche.”

Also, it was not easy to create Bheema’s character arc for this season since he is so complex; he changes in every scene so much so that you’ll think he’s a different man each time. It’s difficult to make a man as layered and unpredictable as him, look credible, to get his graph and his emotions right.

But as an actor, it’s my job to understand the perspective of every character I play. So for me, Bheema is not a villain. I have tried to bring my perspective to the character so that when people watch him, they are able to empathize with him.

Q. Web shows require actors to play a character for a long time. How do you ensure that you stay in character for such an extended period and maintain continuity?

Coincidentally, there was a lockdown before we started shooting both seasons. But fortunately, I had to put on weight each time. So my mother nicely fed me aloo ke paranthe to ensure I look like an incarcerated chief minister who got VIP treatment in jail. For this season, I also had to grow a beard. So I couldn’t take up any other acting project for as long as it took us to shoot Season 2.

But once you fall in love with something, everything else becomes insignificant. I fell in love with Bheema Bharti. I really like him — he’s larger than life, has immense swag, says dialogues straight from 1970s, everyone calls him saheb. Toh wo mere andar ram gaya. When I heard the narration, I’d decided that I’d give him my everything — blood, sweat, time, toil. I didn’t have to recall or remember anything for Season 2. Bheema had become a part of me. Also, there wasn’t a long gap between the shooting of the two seasons; we started after a year. So it wasn’t that difficult.

Q. Is Subhash Kapoor collaborative on set or does he have a strict vision of what he wants?

Because he is a writer-director, he has a very clear vision of what he wants. But he is also open to contributions. He is not rigid. I would go up to him with questions and suggestions. If he liked them, he’d include them, otherwise, he won’t. With Subhash Sir, every artist has the freedom to speak their mind. Despite knowing what he wants, he is always looking for something new and unexpected. He is always open to discoveries. It delights him. I really love him. He’s like a big brother to me.

As an actor, I enjoy it only when it’s collaborative and when I’m contributing to the process too. If you tell me what to do each day, I will begin to feel claustrophobic. Don’t take my ideas but I should have the freedom to say things and bring in my own personality. You choose a particular actor over everybody else because they bring a certain distinctiveness with them. It’s only when actors improvise that they make any role their own.

Maharani 2 is available for streaming on SonyLIV.

Read other pieces by Sneha Bengani here.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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CoWin to be repurposed for blood bank, immunisation projects: RS Sharma

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

National Health Authority CEO R.S. Sharma, in an exclusive chat with CNBC-TV18, said these programmes will be rolled out on the CoWin platform in a couple of months. He also spoke about the huge transformation in health claims processing in the near future.

The CoWin platform is being repurposed for blood bank and universal immunisation programmes. R.S. Sharma, CEO of the National Health Authority told CNBC-TV18 today (August 31) that these programmes will be rolled out in a couple of months. 

Sharma further said health claims will see a big transformation, with end-to-end digitisation of processing of claims till the time payments are made. Health claims exchanges will reduce costs, processing and payment time and increase transparency; therefore patients, hospitals, and insurance companies will be incentivised to do more transactions, Sharma added.

Also read: No claim bonus to critical illness: Key term life and health insurance riders you should know

Sharma welcomed all hospitals under Ayushman Bharat, provided they met the criteria of the number of beds or were NABH certified. Everyone does not get sick, that is why 50 crore insured people under the scheme isn’t a small number, he said.

According to him, private hospitals rates are quite reasonable now after frequent revisions. Sharma also claimed that being a paperless process, processing time under Ayushman Bharat has been reduced. He called on more hospitals to open up to people under the scheme.

 Also Read: COVID-19 treatments for better protection against future variants identified, claims study

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Snap restructures ad business amid worst sales growth rate in its history

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Snap Inc said on Wednesday revenue growth in the third quarter is running at the slowest rate in the company’s history, as high inflation, rising interest rates and a deteriorating economy continues to ravage the advertising industry.

Snap Inc — the parent company of popular social media app Snapchat — said on Wednesday that revenue growth in the third quarter is running at the slowest rate in the company’s history, as high inflation, rising interest rates and a deteriorating economy continue to ravage the advertising industry.

As a result, the company said it will cut 20 percent of all staff, restructure its advertising sales unit and shut down projects including mobile games and novelties like a flying drone camera, in order to focus on improving sales and the number of Snapchat users. Snap had more than 5,600 employees at the end of last year.

Investors have viewed Snap as an early indicator for trends affecting other social media platforms including Facebook owner Meta Platforms, Pinterest and Twitter, as the company is usually the first to report quarterly earnings or provide business updates.

Also Read: Centre seeks vacation of HC stay on order prohibiting restaurants from levying service charge

Snap’s warning in May that it would miss its revenue targets due to worsening economic conditions sparked a selloff of social media stocks.

Shares of Santa Monica, California-based Snap closed down 2.5 percent at $10 on Tuesday after The Verge first reported Snap’s plans for layoffs, and AdAge reported the departure of two top advertising executives.

Revenue growth so far in the third quarter is up eight percent over the previous year, which is “well below what we were expecting,” Chief Executive Evan Spiegel wrote in a memo to employees that was also released publicly on Wednesday.

If that growth rate holds, it would be the slowest revenue growth Snap has had since becoming a public company in 2017 — a far cry from triple-digit growth rates it has recorded in previous quarters.

Also Read: India to remove fare caps for domestic airlines from today: How it will impact travellers?

Two of Snap’s top ad sales executives — Chief Business Officer Jeremi Gorman and Vice President of ad sales Peter Naylor — are leaving to join Netflix and build the streaming service’s ad business.

Gorman, a long-time advertising executive who previously worked at Amazon, was instrumental in building Snap’s ad business, said Jasmine Enberg, principal analyst at research firm Insider Intelligence.

Gorman and Naylor’s departures come after Snap reported a disappointing second quarter and is facing more competition from TikTok, she said.

“Snap is clearly going through a tough time,” Enberg said.

Also Read: Crisis-hit Sri Lanka strikes preliminary loan pact with IMF

‘FACE THE CONSEQUENCES’

Despite reducing spending in some areas, Snap must now “face the consequences of our lower revenue growth and adapt to the market environment,” CEO Spiegel wrote in the memo.

Senior vice president of engineering Jerry Hunter will be promoted to chief operating officer and will be responsible for improving coordination between engineering, ad sales and product teams, Spiegel said.

Snap and other social media platforms including Meta have all suffered from privacy updates that Apple introduced on iPhones last year. These have made it difficult for digital ad sellers and advertisers to target ads to relevant audiences and measure their sales results.

Closer collaboration between engineering and sales could potentially help Snap improve targeting and measurement of its ads.

Also Read: Coriander prices skyrocket but relief may come soon

The restructuring of the ad sales division also includes three new president roles that will oversee the Americas, Europe, Middle East and Africa, and Asia-Pacific regions.

Snap will also discontinue investment in its Pixy flying drone camera, just a few months after debuting in May.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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Are you a Crypto Head? It’s time to prove it!
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Should Elon Musk be able to buy Twitter?

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Centre seeks vacation of HC stay on order prohibiting restaurants from levying service charge

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

On Wednesday, the Centre and the Central Consumer Protection Authority (CCPA) told the Delhi High Court that hotels and restaurants were collecting service charge on food bills while openly flouting the guidelines banning the levy.

On Wednesday, the Centre and the Central Consumer Protection Authority (CCPA) told the Delhi High Court that hotels and restaurants were collecting service charge on food bills while openly flouting the guidelines banning the levy. They claimed consumers were involuntarily paying service charge even when they were dissatisfied with the services.

The submissions were made by the authorities in their application seeking a vacation of stay granted by the high court on the CCPA’s July 4 guidelines prohibiting hotels and restaurants from levying service charge on food bills. Justice Yashwant Varma was informed about the Centre and CCPA having also filed their counter affidavits in response to the petitions challenging the July 4 CCPA guidelines which have irked hotel and restaurant owners.

Also Read: NPCI cleared to acquire 10% stake in e-commerce network ONDC

The court asked the counsel for the two authorities to bring the documents on record after which the petitioners — the National Restaurant Association of India (NRAI) and the Federation of Hotels and Restaurant Associations of India may file their replies. The court listed the matter for further hearing on October 6.

The single judge had on July 20 passed an interim order staying the guidelines. Thereafter, the Centre and CCPA challenged the order before the division bench which asked the authorities to approach a single judge for appropriate relief. The authorities contended in their vacation of stay plea they were not provided adequate time and opportunity to present their case and the interim order was passed post-haste.

They said this grave hardship has been caused to consumers at large who have been made to pay a service charge mandatorily without there being any element of discretion on their part. “It was noticed that restaurants and hotels were openly flouting the guidelines and collecting service charge from consumers involuntarily, even when they were dissatisfied with the services, the application said, adding that after the July guidelines were issued, 1105 more complaints were registered by consumers on the National Consumer Helpline about the unfair levy of service charge by hotels and restaurants.

Also Read: Fiscal deficit touches 20.5% of annual target in April-July period

The plea said the guidelines have been issued for safeguarding the rights and interests of consumers and seek to protect them from unfair trade practices and violation of consumer rights due to mandatory collection of service charge. It said service charge was added automatically or by default in the food bill without allowing consumers the choice or discretion to decide whether they want to pay such a charge or not.

It insisted the guidelines do not interfere with the right of restaurants or hotels to set the prices at which they want to offer their food and services to consumers which they are free to decide. The plea claimed the restaurant associations have sought to mislead the court by wrongly asserting that the service charge is in vogue all over the world which is far from the truth. Seeking dismissal of the petitions by hotel and restaurant associations, the CCPA, in its counter affidavit, said the petitioners have totally failed to appreciate the rights of the consumers whose hard-earned money is unjustly collected automatically or by default in the name of service charge.

Also Read: India’s GDP grew 13.5% in June quarter of FY23 — details here

The inclusion of service charge in the bill automatically or by default cannot be considered a binding contract between the consumer and the restaurant, it asserted. The CCPA affidavit added the objective of collecting mandatory service charge over and above the price of food items and applicable taxes is unlawful as no proportionate service is separately provided to consumers.

Mandatorily imposing service charge would defeat the provisions of the Consumer Protection Act as money is collected from consumers without allowing them the choice or discretion to decide if they want to pay it, CCPA said. The court, during an earlier hearing, questioned why restaurants should recover service charge from consumers as an additional and separate levy, remarking that a common man perceives it as a government levy.

The court had said restaurants can increase their food prices to absorb this charge instead of recovering it in the form of an additional charge over and above the total bill. The single judge had on July 20 said the stay is subject to the petitioners ensuring that the levy of service charge, in addition to the price and taxes, and the obligation of the customer to pay the same is duly and prominently displayed on the menu or other places.

Also Read: Google Pixel 6a is cheaper on Amazon, but here is why you should not buy it

Further, the members of the petitioner associations will also undertake not to levy service charge on takeaway items, the court had said in its July 20 order. The NRAI claimed before the single judge that the CCPA ban under the July 4 order was arbitrary, untenable and ought to be quashed as it was imposed without an appreciation of the facts and circumstances. Levy of service charge has been a standing practice in the hospitality industry for more than 80 years which is evident from the fact that the Supreme Court took notice of this concept way back in 1964, the petition had said. The levying of service charge has a socio-economic angle as well. The system of levying service charge ensures that there is a systematic and logical distribution of service charge collection amongst the employees and not just the employee serving the customer in the restaurant. This ensures that the benefit is divided equally among all the staff workers including the utility workers and back staff, it had added.

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Crisis-hit Sri Lanka strikes preliminary loan pact with IMF

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The debt-laden country has been seeking up to $3 billion from the global lender in a bid to escape its worst economic crisis since independence from Britain in 1948.

Crisis-hit Sri Lanka has reached a preliminary agreement with the International Monetary Fund (IMF) for a bailout, four sources with direct knowledge of the plan have told Reuters.

The debt-laden country has been seeking up to $3 billion from the global lender in a bid to escape its worst economic crisis since independence from Britain in 1948.

Sri Lankans have faced acute shortages of fuel and other basic goods for months, leaving it in political turmoil and inflation which is now soaring at almost 65%.

The sources, who declined to be named ahead of an official announcement planned for Thursday, did not say how much money Sri Lanka might get but optimism around the news sent the country’s bonds to their highest level in two months.

Also read: How good a friend is Ranil Wickramasinghe to India

The IMF said its team, that has been in the country for a week, had extended its stay by a day and that a news conference would be at the Sri Lankan central bank on Thursday.

“The IMF Mission in Colombo has been extended by one day because discussions are still ongoing with the authorities,” the IMF said in statement.

The government did not respond to requests for comment, although Sri Lanka’s new President Ranil Wickremesinghe had told its parliament during a budget presentation on Tuesday that talks with the IMF had reached the final stage.

Staff-level IMF agreements, as they are known, need to get formal approval of its management and executive board before recipient nations get any funding.

Also read: Why India is worried about a Chinese ship docking at a Sri Lankan port?

The IMF team held talks with government officials, including the treasury secretary, late into the night on Tuesday to address concerns on the political front, the sources said.

Many of the more technical issues had been agreed to beforehand they added, although political analysts and investors expect the IMF will now also need to see signs that India, China and Japan that have lent to Sri Lanka remain supportive.

Colombo’s main share index jumped 2.6% on news of the preliminary loan pact, continuing its best month since January last year.

Government bonds, which are now in default, jumped as much 3.7 cents on the dollar too although most remain at just a third of their face value and have yields of around 50% on expectations that much of the money will have to be written off.

Also read: Long history of Sri Lanka’s state of emergency: All you need to know

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Storyboard18 x Momo Media: Let’s talk — Celebrity branding in Indian advertising

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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What’s celebrity branding? Where did it all begin? How did it evolve? How does it work? When does it fail? What new threats do celebrities face? We answer all these questions and more in the latest episode of Let’s Talk, a Storyboard18 and Momo Media collaboration.

What’s celebrity branding? Where did it all begin? How did it evolve? How does it work? When does it fail? What new threats do celebrities face? We answer all these questions and more in the latest episode of Let’s Talk, a Storyboard18 and Momo Media collaboration.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Google Pixel 6a is cheaper on Amazon, but here is why you should not buy it

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Imported Google Pixel 6a is available on Amazon for around Rs 36,000 as opposed to the MRP Rs 43,000 on Flipkart but without the one-year brand warranty.

The Google Pixel 6a is everything you can hope for. It is the perfect smartphone for Google to make a comeback in the Indian smartphone market and how! Google partnered with Flipkart for the smartphone’s official sale in the country and it is being sold at its box price, which is Rs 43,999 with a few offers on top of that.

If you browse through the internet, chances are that you will stumble upon the Google Pixel 6a on Amazon for around Rs 36,000 and chances are that you will be tempted to buy it. But you should not, and it’s for one simple reason. It is not the official PIxel 6a released in India. 

Confused? As was previously mentioned, Flipkart is the official sales partner for the Pixel 6a device in India and only those devices sold on the platform are meant for distribution in India. The ones sold on Amazon are imported devices and will not be eligible for warranty. 

Also Read: Google Pixel 6a Review: Pixel Perfect — almost

 So, if the Pixel 6a falls you bought on Amazon comes up short or has a defect that you would like fixed, you would have to shell out money that is at least the difference you saved by not buying on Flipkart. 

So, the right thing would be to buy the warranty-covered device on Flipkart but if not having a warranty does not bother you, then who are we to stop you from getting a cheaper phone?

Google launched the Pixel 6a in India on July 28. It was the first Pixel device launched in the country after a gap of over two years. The device is available in two colours — charcoal and chalk.

Also Read: Pixel 6a: This is where Google cut corners to make this smartphone ‘affordable’

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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NPCI cleared to acquire 10% stake in e-commerce network ONDC

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

According to sources, Bank of India is also in the process of investing in the ONDC and may get a 5-7 percent stake.

The National Payments Corporation of India (NPCI) has received the nod from the Reserve Bank of India and the Union Ministry of Finance to acquire a 10 percent stage in the Open Network for Digital Commerce (ONDC), India’s open source platform for e-commerce.

According to sources, Bank of India is also in the process of investing in the ONDC and may get a 5-7 percent stake. Sources further said ONDC is also in talks with the National Securities Depository Limited (NSDL) to come onboard as an investor. ONDC would have raised approximately Rs 190 crore from 20 investors at the end of the exercise. 

NPI CEO Dilip Asbe is a part of ONDC’s Advisory Council.

Sources added that  the ONDC is likely to have 20 stakeholders in total, including 17 already on board — Quality Council of India, Protean (NSDL eGov), BSE Investments, NSE Investments, Kotak Mahindra Bank, Axis Bank, HDFC Bank, IDFC First Bank, SIDBI, State Bank of India, NABARD, Bank of Baroda, CSC, eGovernance Services India, UCO Bank, Central Depository Services (India) Ltd, Punjab National Bank, and ICICI Bank.

(This is a developing story. Keep checking back for updates)

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
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Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?