The Times Of India Business
Data storage norms: Mastercard submits audit report to RBI
After being banned by the RBI from issuing new cards, US-based payments technology major Mastercard on Friday said it has submitted an audit report to the regulator showing compliance with the local data storage norms.
States get more time to enrol for power reforms scheme
The government has given states two more months till December 31 to enrol for funding under the Centre’s Rs 3 lakh crore distribution reforms scheme, power minister R K Singh said after reviewing steps taken by states to improve power infrastructure.
First Solar of US plans $684 million module plant in TN
US-based First Solar on Friday said it will invest invest $684 million, or roughly Rs 4,965 crore, in India to build a solar PV (photovoltaic) module manufacturing plant with more than 3 GW (gigawatts) capacity in Tamil Nadu.
Jhunjhunwala's new airline may give Boeing chance to regain lost ground
Billionaire Rakesh Jhunjhunwala's plan to launch an ultra low-cost airline could give planemaker Boeing a chance to regain lost ground in India after the fall of one of its biggest customers, Jet Airways, two years ago, industry executives say.
Venture capital firms turn to India with China’s tech crackdown
Venture capital investors have a new favorite developing market. The value of venture deals in India surged to $7.9 billion in July, while China investments plummeted to $4.8 billion, according to data compiled by research firm Preqin.
Amazon hit with record EU data privacy fine
Amazon.com Inc has been hit with a record $886.6 million (746 million euros) European Union fine for processing personal data in violation of the bloc's GDPR rules, as privacy regulators take a more aggressive position on enforcement.
Forex reserves down by $1.581bn to $611.149bn
The country's foreign exchange reserves declined by $1.581 billion to stand at $611.149 billion for the week ended July 23, RBI data showed on Friday. The reserves had reached a lifetime high of $612.730 billion after rising by $835 million in the previous week ended July 16, 2021.
Received 71k complaints, took down 1.54L content pieces in May-June: Google
Google received 71,148 complaints from individual users in India in May and June combined, which resulted in the removal of more than 1.54 lakh pieces of content, as per the company's latest monthly transparency reports.
Sun Pharma posts Rs 1,444.17 crore net profit in June quarter
Drug major Sun Pharmaceutical Industries on Friday reported a net profit of Rs 1,444.17 crore for the quarter ended June 30, 2021. The company had posted a net loss of Rs 1,655.60 crore for the corresponding period of the previous fiscal, Sun Pharma said in a regulatory filing.
Scheduled international flight suspension extended till August-end
The government has extended suspension of scheduled international flights till August 31, 2021. However, Vande Bharat Mission and other flights under air bubbles will continue to operate and people eligible as per government norms can fly to and from India.
US economy grows 1.6% in Q2, back to pre-pandemic size
Vaccinations and federal aid helped lift the US economy out of its pandemic-induced hole this spring. The next test will be whether that momentum can continue as coronavirus cases rise, masks return and government help wanes.
India needs to grow 8-10% to reach pre-pandemic levels
The Indian economy might be able to reach the pre-pandemic level if it grows in 8-10% range as several high frequency indicators have reached the pre-pandemic levels, experts have said. The RBI expects the economy to grow by 9.5% in the current fiscal. IMF on Wednesday slashed India’s GDP growth estimate for FY22 to 9.5% from its earlier projection of 12.5%.