Prospects are brightening for the Indian economy achieving “escape velocity” from the pandemic as the second wave of COVID-19 wanes and preparedness for future remains on war-alert status, according to an RBI bulletin published on Thursday. An article on the state of the economy, published in the September bulletin, said aggregate demand is gaining firmer […]
Business
Pepsico, Airtel partner to unlock digital experience for customers
PepsiCo India and telecommunications services provider Bharti Airtel are doubling down on their partnership to unlock a world-class digital experience with packs of Lay’s, Kurkure, Uncle Chipps, and Doritos, informed officials. With the festive season approaching, PepsiCo India and Airtel are providing customers complimentary 2GB data with select packs of Lay’s, Kurkure, Uncle Chipps, and […]
El Salvador becomes first country to make Bitcoin legal tender
El Salvador has become the first country to approve Bitcoin as the official currency, announced President Nayib Bukele through Twitter. The President has backed the cryptocurrency’s use in boosting the economy. He announced that people who invest Bitcoin in El Salvador will get the country citizenship. People investing three Bitcoins in country’s economy will be […]
Adidas plans to divest from struggling Reebok brand
German sportswear company Adidas plans to sell its underperforming Reebok brand – some 15 years after Adidas acquired the Boston-based brand to help it compete in the American market. Adidas acquired Reebok in 2006 for roughly $3.8 billion in an attempt to better compete with Nike, but the brand has posted disappointing sales figures in […]
Amazon founder Jeff Bezos to step down later this year
Amazon founder Jeff Bezos, 57, has announced that he will be stepping down as the Chief Executive Officer (CEO) of the e-commerce giant later this year, handing over the reins of the company to Andy Jassy, who currently heads Amazon Web Services (AWS), the company’s cloud computing platform. Jassy, who has been with Amazon since […]
Govt clarifies KYC needed only for cash purchase of jewellery above ₹10 lakh
The Department of Revenue (DoR), Ministry of Finance, has clarified that any purchase of gold, silver, jewellery, or precious gems and stones below ₹2 lakh does not require PAN or Aadhaar card of a customer as mandatory Know Your Customer (KYC) document. “The misinformation being circulated in certain section of media that any purchase, even […]
Tata Safari to make a comeback as 7-seat SUV Gravitas, bookings to open this month
One of the most iconic SUVs of the Indian market– Tata Safari – is back. Tata Motors has decided to resurrect the iconic Safari nameplate with its upcoming flagship SUV. Introduced at the Auto Expo 2020 as the Gravitas, the 7-seat SUV will be launched as the new Tata Safari, and will arrive in showrooms […]
Chinese billionaire Jack Ma suspected to be missing for 2 over months
Chinese billionaire and Alibaba Group founder Jack Ma is suspected to be missing following his mysterious disappearance from the public eye for over two months after Beijing’s aggressive crackdown on his business empire. Speculations about his whereabouts intensified when Ma failed to appear as judge in the final episode of his own show, Africa’s Business […]
PlayStation 5 launch set in Feb, pre-order to start on Jan 12
Some great news for the gamers! Sony on Friday announced that the company will launch the much-awaited PlayStation 5 in India on February 2. The Japanese firm also informed that the pre-orders for PS5 will begin on January 12. “We are happy to announce that PS5 shall be launched in India on the 2nd of […]
4 months respite from penalty on GST invoices without QR code
The government has conditionally waived the penalty provisions for business-to-consumer (B2C) transactions for a period of four months from December 1, 2020, to March 31, 2021, for issuing invoices without mandatory dynamic QR code by the registered persons with a turnover exceeding ₹500 crore, said the Department of Revenue (DoR), Ministry of Finance. DoR sources […]