Category archives: Business

Vastal Mehta, man behind Facebook's successful ad business

Facebook owes Indian-origin engineer Vastal Mehta a lot for its success in generating billions of dollars in ad revenues every year as he steers the team that works with advertisers to build the technology and infrastructure needed to run more effective campaigns on the platform. When he started out on this in 2010, Mehta was the lone engineer in the team and now serves as Facebook`s Director of Solutions Engineering […]

SBI Clarifies On Rs. 1,771 Crore Earnings From Minimum Balance Fines: 10 points

The country’s largest lender, State Bank of India (SBI), collected Rs. 1,771 crore between April-November 2017 as charges from customers for failing to maintain monthly average balance in their accounts. This is more than Rs. 1,581.55 crore that it earned as net profit in September quarter. The bank on Tuesday clarified on its charges for non-maintenance of minimum balance on savings accounts. “SBI’s metro branches earn Rs. 6 per month […]

McDonald’s outlets likely to be closed in the north and eastern India

Monday saw about 84 McDonald’s outlets being closed in both the North and the Eastern parts of the nation. The shutters have been brought down, pressurising the McDonald’s franchise partner Vikram Bakshi more than ever. The pressure to sell the Global Burger eatery is  threatening him. The Connaught Plaza Restaurants is a 50:50 venture between him and McDonald’s, which ran about 160 outlets overall. However, a fallout between the Company and  the Supply […]

PMEAC and Niti Aayog claim India could become a $7 tn economy by 2030

Reports and studies by the Prime Ministers Economic Advisory Council and the Niti Aayog Members suggest that the Indian economy has the potential of becoming a $7 trillion economy in the next two decades; specifically by the year 2030. The growth rate since 2011 though lower by almost two per cent since 2011, the Members and the Council argues that all this is because of the Government’s focus on long […]

Is GST beneficial for India?

The latest and the renewed by the Government of India recently has won due accolades for the BJP and Narendra Modi, however, yet there is another black and grim reality to the situation. It has been five months since the new tax regime was implemented, yet it is a cause of hinderance for various small entrepreneurs who are looking to make a living out of their small-scale businesses. They have […]

Japan looks to protect itself from North Korea Missile threat. Invests in US missile defence system

Japan has decided to invest in US Missile Defence system in order to counter the threat that comes all the way from North Korea and their ballistic missiles. The Japanese officials have also invested in the deployment of interceptors of ground-based missiles, which they have bought from the US. The Ministry of Defence is ready to buy two Aegis Ashore Land based systems and are looking forward to ass it […]

Indian Tax Authorities knock on the doors of Bitcoin Exchanges. Investors beware!

Indian Tax Authorities knock on the doors of Bitcoin Exchanges. Investors beware! The long and rich “party” held by Bitcoin exchanges and investors in India is soon going to be gatecrashed by the Tax Authorities in India. The Taxation Authorities are investigating all the exchanges that help people trade Bitcoins on, across the nation. Major states like Mumbai, Delhi, Bengaluru, Hyderabad and Pune are already under the scrutiny. The Tax […]

Volkswagen Official found guilty, sentenced to 7 years of prison in the biggest Dieselgate

Volkswagen Official found guilty, sentenced to 7 years of prison in the biggest Dieselgate A previous high-ranking Volkswagen employee was pleading guilty on Friday in connection to his role in cheating federal air emission standards. Oliver Schmidt of German descent led the US Volkswagen Environmental Engineering Office, who pleaded guilty to four out of a total of eleven charges against him. The prosecutors for the case say that Schmidt is […]

Revealed: What young Indian entrepreneurs fear the most

As many as 61 per cent of students in India consider entrepreneurship as a good prospect to earn a livelihood with a majority from rural areas showing greater willingness to start their own business compared to their urban counterparts, according to a study. The report — Amway India Entrepreneurship Report (AIER) 2017 conducted by Nielsen, however said 71 per cent respondents cited ‘fear of failure’ as the biggest obstacle in […]

India's communications regulator endorses net neutrality

India’s communications regulator endorses net neutrality On Nov. 28, the Telecom Regulatory Authority of India (TRAI) released its recommendations on net neutrality that make it mandatory for telecom companies to treat the internet—declared a basic human right by the United Nations—as a public utility and not a luxury. Telecom companies cannot control the content people access or the speed at which all online traffic flows, TRAI said, nor can they […]