BUSINESS
After iPhones, Apple now plans to shift some iPad production to India
Apple has "talked to Indian officials about locating some iPad manufacturing in the country as US-China relations sour and China's Covid crackdowns snarl supply chains," reports CNBC, citing sources. Apple is planning to shift iPad manufacturing to India as the company looks to move up to 30 per cent of its manufacturing outside of China.
Foodtech platform HealthKart raises $135 mn from Temasek, A91 Partners
"Driving fitness and preventive health by addressing the nutritional gaps is a systemic trend which is taking off in a big way in India. With HealthKart's R&D capabilities and omni-channel distribution infrastructure, we are excited to lead the way," said Sameer Maheshwari, Founder and CEO, HealthKart.
EU passengers will soon be able to use 5G tech on planes
According to BBC, the European Commission ruled that airlines can offer 5G technology alongside slower mobile data on board planes. With this, flyers will no longer be required to put their phone in flight mode, though the details of how this will be implemented remain unknown.
SL to get help from India's NDDB to develop dairy industry
The committee consisting of representatives of the public and private sectors will work with the multidisciplinary team of the NDDB to prepare a short, medium and long-term plan to increase local milk production to reduce the country's dependence on imported milk powder.
Nick Read steps down as Vodafone Group head
The company's Chief Financial Officer (CFO) Margherita Della Valle has been appointed interim Group Chief Executive, the company said in a statement. Read will step down as Group Chief Executive and as a Director of Vodafone on December 31, following which he will be available as an adviser to the Board untilA March 31, 2023.
Morgan Stanley raises Asia, emerging markets index targets
Expressing confidence in emerging markets bull cycle, it said that "a new bull cycle is beginning". "We now feel even more confident in a new bull cycle for Asia/EM equities. We raise our base case MSCI EM target a further 10 per cent to 1,100 (12 per upside)... We also upgrade China to overweight, joining our broader North Asia preference," it noted in the report.
Digital payments in India touch Rs 38.3 lakh cr at over 23 bn transactions
At the top, the UPI clocked over 19.65 billion transactions in volume and Rs 32.5 lakh crore in terms of value. The UPI transactions volume and value almost doubled since last year as it recorded about an 88 per cent increase in volume and over 71 per cent increase in value in Q3 as compared to the same quarter last year, according to Worldline India's 'Digital Payments Report' for the third quarter.
Razorpay allows merchants to accept credit card payments via UPI
With RuPay credit cards being enabled on UPI, Razorpay merchants can begin accepting credit card payments on UPI, with minimal changes to their existing setup. The company said that move is made possible in partnership with Axis bank, which shares Razorpay's focus on catering to the ever-evolving needs of merchants and delivering greater convenience
New PDP Bill to bolster India's narrative as a trusted global partner: Nasscom
In the meeting, attended by Alkesh Kumar Sharma, Secretary MeitY, along with startups and small and medium enterprises (SMEs), provided their initial feedback and suggestions on the bill to the IT Minister last week. Vaishnaw said that as the PDP Bill gets finalised, on cross-border data flows, the government will ensure that the approach focusses on strengthening data protection without disrupting data flows.
Oil prices rise as cap set Russian crude
Brent crude added around 1 per cent to above $86 in Asia trading. The move - which could come into force on Monday - raises Western pressure on Russia over the invasion of Ukraine. It comes after oil producers' group Opec+ agreed to stick to its policy to reduce production, amid slower global growth and higher interest rates, BBC reported.
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