• No. of crorepati taxpayers up 19% to 16,759

    No. of crorepati taxpayers up 19% to 16,759
    Published Date : 12-Oct-2019 7:29:40IST

    The No. of crorepati taxpayers shot up 19% during assessment year 2018-19, and those with incomes above Rs 5 cr rose 29%, showed data released by the tax department on Friday. The number of those declaring income above Rs 1 cr has gone up from 14,068 in 2016-17 to 16,759. The number of those with incomes above Rs 5 cr was up from 1,049 to 1,351. Persons declaring over Rs 100 cr as income rose from four to seven. The number of individual taxpayers—those who filed returns or in whose case tax was deducted at source but did not file returns— reached 8 crore in 2017-18, up from 7 cr in 2017-18.

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  • Amazon workers see sex clips recorded by home security cam: Bloomberg

    Amazon workers see sex clips recorded by home security cam: Bloomberg
    Published Date : 11-Oct-2019 3:42:37IST

    Review footage recorded by Amazon’s Cloud Cam security cameras sometimes includes clips of people having sex, Bloomberg reported citing sources. An Amazon spokeswoman said clips with ‘inappropriate content’ are scrapped to improve human reviewers’ experience. Even though some human reviewers in India work in restricted conditions, they pass these clips to non-team members, the sources added.

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  • ₹4.5 crore cash seized during I-T raids on ex-K’taka Deputy CM

    ₹4.5 crore cash seized during I-T raids on ex-K’taka Deputy CM
    Published Date : 11-Oct-2019 3:38:15IST

    Around ₹4.5 crore cash was seized in the Income Tax raids conducted at Congress leader and former Karnataka Deputy CM G Parameshwara’s residence and two medical colleges linked to him, a senior official said. As many as 30 premises were searched by the I-T Department as part of its investigation into alleged sale of government quota seats in three institutes.

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  • Facebook plans to invest in tech startups in India

    Facebook plans to invest in tech startups in India
    Published Date : 27-Sep-2019 11:25:55IST

    Social media giant Facebook is preparing to make substantial direct investments in technology startups in India, Facebook India MD Ajit Mohan said. “We’re willing to spend our time and energy to tap the massive depth of engineering talent in the country,” he added. Earlier in June, Facebook made its first investment in an India-based startup, in Bengaluru-based e-commerce platform Meesho.

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  • Infosys 3rd best regarded company in world

    Infosys 3rd best regarded company in world
    Published Date : 24-Sep-2019 1:06:49IST

    For the first time in recent years, an Indian company is among the top 5 in Forbes’ annual list of the World’s Best Regarded Companies. Infosys stood at No. 3 in the 2019 list, after Visa and Ferrari. It was at No. 31 last year, and then too, it held the best rank among Indian companies. Infosys was followed this year by Netflix, Paypal, Microsoft, Walt Disney, Toyota, Mastercard and Costco in the top 10. Tata Consultancy Services (TCS) stood at No. 22, up from No. 35 in 2018.

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  • Apple to invest $1 bn to expand iPhone production in India

    Apple to invest $1 bn to expand iPhone production in India
    Published Date : 17-Sep-2019 12:27:47IST

    Apple is reportedly investing $1 billion through its partners to expand the manufacturing of iPhones in India. The move by the American technology giant comes amid the trade war between the US and China, which could result in Apple being forced to hike prices. A past report had claimed that Apple is planning to expand production to Vietnam alongside India.

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  • Azim Premji sells ₹7,300 crore worth shares in Wipro buyback

    Azim Premji sells ₹7,300 crore worth shares in Wipro buyback
    Published Date : 12-Sep-2019 7:28:40IST

    Azim Premji and entities controlled by him have sold shares worth ₹7,300 crore during Wipro’s buyback offer that closed last month. Post the buyback, the promoter holding in the IT services company stands at 74.05% compared to 73.83% earlier. Notably, Premji has contributed $21 billion to his education-focused Azim Premji Foundation, which includes 67% of economic ownership of Wipro.

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  • KIA Motors to start exports through Chennai Port from September 20

    KIA Motors to start exports through Chennai Port from September 20
    Published Date : 06-Sep-2019 11:46:32IST

    South Korean carmaker KIA Motors will begin exporting vehicles manufactured at its new Anantapur plant via the Chennai Port Trust. The first lot, which is expected to be shipped on September 20, will contain 500 vehicles and the volume will be increased gradually. KIA Motors India COO Jong Soo Kim said the company manufactured 6,000 cars in the first month.

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  • Amazon to start food delivery from next month in India

    Amazon to start food delivery from next month in India
    Published Date : 06-Sep-2019 1:14:17IST

    Amazon India is reportedly set to start its food delivery service from next month and has started signing restaurants, promising to charge one-fourth the commissions charged by Zomato and Swiggy. The service will reportedly be first offered in Bengaluru, followed by Mumbai and Delhi. Amazon is also reportedly in the final stages of acquiring Foodpanda’s infrastructure from Ola.

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  • OnePlus to invest ₹1,000 crore in Hyderabad R&D facility

    OnePlus to invest ₹1,000 crore in Hyderabad R&D facility
    Published Date : 27-Aug-2019 12:57:34IST

    Opening its first R&D centre in India, OnePlus said it plans to invest ₹1,000 crore in their facility in Hyderabad over the next three years, making it the company’s biggest such centre globally. The facility will focus on five areas including network, software innovation and global carrier customisation, and will also contribute towards nurturing and giving opportunities to fresh talent.

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  • Rupee falls to 72.25 against US dollar, the lowest in 2019

    Rupee falls to 72.25 against US dollar, the lowest in 2019
    Published Date : 26-Aug-2019 4:40:25IST

    The Indian rupee fell sharply on Monday against the US dollar to its day’s low of 72.25, the lowest intraday level recorded this year against USD. The rupee had closed at 71.66 on Friday. So far this year, the rupee is down about 3.5% against USD. Emerging market currencies, including rupee, are under pressure amid the escalation in US-China trade.

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  • Coffee Day group’s outstanding debt at Rs 4,970 cr

    Coffee Day group’s outstanding debt at Rs 4,970 cr
    Published Date : 17-Aug-2019 11:03:23IST

    Coffee Day Group on Friday clarified its debt position following Founder VG Siddhartha’s demise and said all obligations will be honoured. Its debt stood at ₹4,970 crore, which would reduce by about ₹2,400 crore following the sale of its Bengaluru technology park. Coffee Day added that its subsidiary Sical Logistics would sell certain assets to significantly reduce its ₹1,488-crore debt.

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  • Amazon to Donate Unsold Stuff

    Amazon to Donate Unsold Stuff
    Published Date : 16-Aug-2019 9:12:37IST

    Beijing Amazon is making a big push to help third-party sellers donate their unsold products instead of trashing them. The firm is launching a new programme called ‘Fulfillment by Amazon Donations’, where eligible excess and returned products from sellers will be donated to nonprofits and charities in the US and UK.

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  • Rupee becomes Asia’s worst performing currency this month

    Rupee becomes Asia’s worst performing currency this month
    Published Date : 14-Aug-2019 9:43:32IST

    The Indian rupee has become Asia’s worst-performing currency in August amid foreign fund outflows, global trade tensions and pressure from China’s yuan. The local currency has slumped 3.49% against the US dollar so far this month, heading towards its second-worst monthly loss in four years. China recently let its yuan weaken below 7 against the dollar, an 11-year low.

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  • Jio to provide free internet services to budding startups: Ambani

    Jio to provide free internet services to budding startups: Ambani
    Published Date : 12-Aug-2019 3:45:40IST

    Reliance Jio will help upcoming startups by providing them with free internet services, Reliance Industries (RIL) Chairman Mukesh Ambani announced at RIL’s Annual General Meeting on Monday. Ambani said the service would be made accessible for startups from January 1, 2020. The startups would be able to register for their custom-designed internet package at Jio’s portal.

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