Wipro and Nutanix Join Forces for Hybrid Cloud Innovation
Wipro, a leading technology services and consulting company, has expanded its partnership with Nutanix, a leader in hybrid multicloud computing, to launch a new Nutanix-focused business unit. The new business unit will leverage the industry expertise of Wipro FullStride Cloud with Nutanix Cloud Platform to offer joint solutions for enterprises that want to enhance their […]
TEPA Parliamentary Approval Initiated by Swiss Govt
The Swiss government has announced that it will start the parliamentary approval process for the Trade and Economic Partnership Agreement (TEPA) with India, which was signed on Sunday after 16 years of negotiations. The TEPA aims to boost trade and investment between the European Free Trade Association (EFTA) states and India, by reducing tariffs, improving […]
India-EFTA Seal Trade Deal; Aim for $100B Investment
India and the European Free Trade Association (EFTA), comprising Iceland, Liechtenstein, Norway, and Switzerland, have signed a Trade and Economic Partnership Agreement (TEPA) on March 10, 2024. The agreement is expected to enhance bilateral trade and investment between the two sides in various sectors, such as pharmaceuticals, medical devices, food processing, banking, digital trade, and […]
RBI and Bank Indonesia: MoU for Local Currency Use
The Reserve Bank of India (RBI) and the Bank Indonesia (BI) have signed a Memorandum of Understanding (MoU) to promote the use of local currencies for bilateral transactions. The MoU was signed by RBI Governor Shaktikanta Das and BI Governor Perry Warjiyo in Mumbai on March 7, 2024. Benefits of local currency use The MoU […]
Govt Extends RoDTEP Benefits to SEZ Units
The government has announced the extension of the RoDTEP scheme support to additional export sectors, including SEZ units, to boost India’s export competitiveness in international markets. What is RoDTEP? RoDTEP stands for Remission of Duties and Taxes on Exported Products. It is an export promotion scheme that aims to refund various central, state, and local […]
Pay to Nepalese Merchants Using UPI Now
In a landmark development, the Unified Payment Interface (UPI) is now live for cross-border transactions between India and Nepal. This follows a tie-up between the NPCI International Payments Ltd (NIPL) and Fonepay Payment Service Ltd, Nepal’s largest payment network, in September last year. What is UPI and how does it work? UPI is an instant […]
Delhi HC Stops $135M Asset Sale in Shanghai Electric vs Reliance Case
The Delhi High Court has ordered Reliance Infrastructure Ltd (RIL) to maintain status quo on its assets and restrained it from selling, transferring or creating any encumbrances on its stake in two power distribution companies in Delhi, BSES Yamuna Limited and BSES Rajdhani Limited, until further orders. The order was passed by Justice Sanjeev Narula […]
Zomato: 2% Stake Sold by Antfin Singapore for Rs 2,827 Cr
Antfin Singapore Holding, an affiliate of Alibaba’s Ant Financial Group, has reduced its stake in online food delivery platform Zomato by 2 per cent through open market transactions on Wednesday. The sale, which involved offloading over 17.63 crore shares, was executed within a price range of Rs 160.11-160.40 per share, resulting in a deal size […]
New FDI Norms in Space Sector by DPIIT
The Department for Promotion of Industry and Internal Trade (DPIIT) has notified changes in the foreign direct investment (FDI) norms in the space sector, allowing up to 100% overseas investment in some activities. This is expected to attract foreign players and private companies into the segment, which has been largely dominated by the government so […]
Google removes 10 Apps from Indian Play Store Over Fees
Google has taken down 10 popular Indian apps from its Play Store, including BharatMatrimony, Naukri, Truly Madly and Kuku FM, over a fee dispute that has been going on for more than three years. The US tech giant claims that these apps have violated its payment policies by avoiding fees ranging from 11% to 26% […]