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Fri, Apr 13 2018. 05 28 PM IST
The Pakistani government is also eyeing increased freight trade. With national elections scheduled for July and with the economy facing headwinds due to widening external deficits, Pakistan wants to increase exports to China, Iran, Turkey, Afghanistan and even arch-rival India through rail links
Thu, Apr 12 2018. 02 45 PM IST
The patent held by Monsanto, through its Indian arm Mahyco-Monsanto Biotech, over its Bollgard-II Bt cotton seed technology has been decreed to be unenforceable in India. The court’s order came in a case filed in 2015 by Monsanto, through MMBL, against Nuziveedu Seeds and its subsidiaries for selling Bt cotton seeds using its patented technology despite termination of a licence agreement in November 2015.
Thu, Apr 12 2018. 01 39 PM IST
As Zuckerberg arrived at Capitol Hill, he looked grim as death. Increasingly uncomfortable questions have been asked of Facebook. How much information does Facebook collect about its users? How much of that is violation of an individual’s privacy? And how safe is all that data in the hands of Facebook? In fact, it is astonishing that he had not envisaged that a day would come when his company’s gigantic appetite for gathering data and using it for profit would not face a backlash
Wed, Apr 11 2018. 06 16 PM IST
Truck crash kills 18 labourers on a highway outside of Khandala, a popular tourist destination 80 kilometres from Mumbai. The truck overturned on a winding highway. Another 15 people were taken to nearby hospitals for treatment. The deadly crash comes just a day after 30 people, including 27 children, were killed when a school bus plunged into a ravine in Himachal Pradesh. India has some of the world’s deadliest roads, claiming the lives of more than 150,000 people each year.
Tue, Apr 10 2018. 08 16 PM IST
The latest Series C funding round comes at a time when Chai Point is looking to aggressively increase its footprint in top metros across India in a bid to keep ahead of competitors. Mountain Trails Foods Pvt. Ltd, which owns Chai Point, is in advanced discussions to raise about $20 million in Series C funding from new and existing investors. Over the coming months, Chai Point will also face competition from the Tata Group, which has already launched its Tata Cha cafes, and plans to aggressively ramp up.
Tue, Apr 10 2018. 08 12 PM IST
Ola is also exploring possibility of setting up an independent food-tech start-up as part of a plan to have a group company-like structure similar to that of Flipkart. Apart from its core cab hailing business and Foodpanda, Ola has a payments business called Ola Money. It also bought public transportation app Ridlr last week for an undisclosed amount. Ola CEO Bhavish Aggarwal is considering ways to have independent assets that can together increase Ola’s valuation. Ola’s inspiration is Flipkart, whose ownership of Myntra and Jabong as well as PhonePe has made it more attractive to investors.
Tue, Apr 10 2018. 08 08 PM IST
Indian Railways shares the data days after an incident in which the brakes on a 22-coach train carrying hundreds of passengers failed, letting it run freely in reverse for about 13km. Deaths and injuries from train collisions or derailment in India more than halved to 254 people last fiscal year from a year ago, railways data showed, amid attempts to improve its shoddy safety record through mega investments and recruitments.The state-run Indian Railways shared the data with Reuters days after an incident in which the brakes on a 22-coach train carrying hundreds of passengers failed, letting it run freely in reverse for about 13km (eight miles).
Tue, Apr 10 2018. 06 06 PM IST
Saudi Arabia culture minister Awwad Alawwad announces that the country will make its first official appearance at France’s Cannes film festival, submitting a selection of short films when the prestigious competition opens next month. “We are very happy... that there will be an official participation at the Cannes festival, for the first time,” said Alawwad. Saudi is going through some major changes and this is part of crown prince Mohammad Bin Salman’s Saudi Vision 2030 that seeks to reduce the Kingdom’s dependency on oil and tap into the entertainment industry.
Tue, Apr 10 2018. 05 55 PM IST
Tue, Apr 10 2018. 05 50 PM IST
Among the largest economies in the G-20 group, China, the US and India have been hit the hardest by protectionist measures in 2017, according to data from the Global Trade Alerts (GTA) database. Among emerging economies, China faced the greatest number of protectionist interventions in the past year, followed by India. Recent developments—including US tariff actions against India—suggest that India could be hit hard by the growing tide of protectionism in the coming months as well. India was affected by protectionist interventions implemented largely by rich economies, the data shows. Within the G-20 club, fellow emerging economies have been less unkind to India compared to the advanced economies.