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Founder and Chairman of Apple’s Top Chipmaker Announces His Retirement
2Oct By RishabhNo Comments
BUSINESS

Founder and Chairman of Apple’s Top Chipmaker Announces His Retirement

Taiwan Semiconductor Manufacturing Co. world's largest producer of made-to-order microchips chairman and founder Morris Chang will retire in June next year, as per the reports by Bloomberg. Two chief executives of the company will be taking over after him. 86-year-old Morris' place will be taken over by Mark Liu, as chairman of the company who will be then responsible for all strategic decisions and business directions.  C.C. Wei will become chief executive officer, orchestrating operations but taking his cues from the board, Chang told Bloomberg.     When Chang stepped down as CEO in 2013, Mark and Wei took over as the chief executive officers of TSMC. TSMC entertains world's leading corporations such as- Qualcomm Inc. and Apple Inc. The soul reason be...
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South Korea joins China in banning initial coin offerings
29Sep By reutersNo Comments
BUSINESS

South Korea joins China in banning initial coin offerings

South Korea’s financial regulator on Friday said it will ban raising money through all forms of virtual currencies, a move that follows similar restrictions in China on initial coin offerings. The Financial Services Commission said all kinds of initial coin offerings (ICO) will be banned as trading of virtual currencies needs to be tightly controlled and monitored. It added Friday’s announcement doesn’t mean the government is accepting trading of virtual currencies as part of its financial system, and will continue to monitor markets to see additional regulations are needed.   Like this press release? Submit yours here.
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Top 10 Richest Person Of 2017 In India
28Sep By RishabhNo Comments
BUSINESS

Top 10 Richest Person Of 2017 In India

International Agency Hurun recently released the names of top 10 richest person in India. The list was topped by none other than Mukesh Ambani with over 58% jump in his net worth. Storming into Top 10 for the first time, 44-year-old Patanjali's CEO Acharya Balkrishna has become the 8th richest person in the country after 173 per cent rise in his wealth to Rs 70,000 crore. (more…)
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Amazon, Flipkart, Snapdeal Accused of Violation of FDI Norms
25Sep By PriyankaNo Comments
BUSINESS

Amazon, Flipkart, Snapdeal Accused of Violation of FDI Norms

Confederation of All India Traders (CAIT), leading advocate for small traders and businesses in India, with around 6 crore merchants across 40000 affiliates, urged the government to take action against e-commerce firms like Amazon and Flipkart, accusing them of violation of FDI norms by undertaking retail trading activities. (more…)
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Tax Department To Eye Social Media Accounts To Trace Black Money
11Sep By PriyankaNo Comments
BUSINESS

Tax Department To Eye Social Media Accounts To Trace Black Money

The photos of your Singapore vacations trip or your brand new luxury car on Instagram or Facebook may lead the tax department on your doorstep if you're evasing tax or hold black money. The tax department from next month will begin amassing virtual information to trace such frauds. (more…)
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Paytm Payments Bank In Early Talks To Partner With Full-Service Banks
1Sep By AnkitaNo Comments
BUSINESS

Paytm Payments Bank In Early Talks To Partner With Full-Service Banks

India’s Paytm Payments Bank is in talks to partner with full-service banks to offer services such as loans and term deposits which it cannot do on its own due to regulatory restrictions, its chief executive told Reuters. Payments banks are niche banks that were allowed by the Reserve Bank of India in a bid to expand access to financial services in Asia’s third-largest economy where millions don’t have a bank account. RELATED Paytm Starts Payments Bank, Will Offer 4% Interest Rate     The payments banks can take savings deposits and remittances but are not permitted to lend. “Anything which we cannot offer, we will be partnering with the banks. Whether it’s going to be a loan, or a credit card, or a term deposit, and other services,” said Renu Satti, CEO o...
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