Reliance Brands to purchase 40% in toymaker Plastic Legno SPA, indicators three way partnership
Reliance India Limited’s exports for the 12 months was Rs 3,40,048 crore (US$ 41.4 billion), a robust leap of 33.4 per cent from FY22 exports of Rs 2,54,970 crore (US$ 33.6 billion).
The improve in exports have been led by increased value realisations regardless of decrease downstream product volumes, talked about the annual report.
India’s merchandise exports crossed $447 billion throughout FY23. Reliance represented 9.2 per cent of India’s total merchandise exports.
Reliance industries
Reliance Industries is one in all India’s largest contributors to the nationwide exchequer. Reliance’s consolidated contribution to the nationwide exchequer crossed Rs 5 lakh crore within the three years from FY21 to FY23.
Reliance’s contribution to nationwide exchequer stood at Rs 177,173 crore in FY23, marginally down from Rs 188,012 crore of FY22.
The firm continues to be the most important taxpayer in India, contributing Rs 1,77,173 crore to the nationwide exchequer by the use of numerous direct and oblique taxes, talked about the annual report.
Representational Image.Reuters
This was over 5 per cent of the Union authorities’s budgeted expenditure for final three years
Reliance Industries Limited issued its Annual Report for FY23 on Saturday.
The firm shall be holding its Annual General Meeting on Monday, August 28, 2023.
Among different issues, the RIL Annual Report talked about in regards to the progress made by all its enterprise verticals viz. Retail, Digital Services, O2C and E&P, and spoke about RIL’s intentions within the Green Energy area.
Elon Musk celebrates 52nd birthday as he prepares for cage combat with Zuckerberg
Elon Musk on Sunday mentioned that he will foot the legal invoice with none restrict for X (previously Twitter) customers if their employers treated them unfairly as a consequence of posting or liking one thing controversial on the platform.
In a tweet, the tech billionaire mentioned: “If you have been unfairly treated by your employer as a consequence of posting or liking one thing on this platform, we will fund your legal invoice.”
He added: “No restrict. Please tell us.”
This is the primary time the X proprietor has tweeted one thing like this to the customers on the platform, who at occasions confronted points at their employers’ finish as a consequence of posting or liking tweets that weren’t nice with them or the organisation.
Twitter, Elon MuskIANS
A consumer posted that Kara Lynne, now buyer relations supervisor at Rippaverse Comics, was fired for following the “Libs of TikTok” account, to which Musk requested: “Kara, is that correct?
She replied: “The state of affairs is barely extra sophisticated than the headline. But sure.”
Another Musk follower tweeted: “The combat for free speech has solely simply begun.”
The Tesla CEO has beforehand mentioned that he’s a “free-speech absolutist”.
Elon MuskIANS
He has promised to fight censorship on the social media platform after he acquitted it for $44 billion in October final yr.
Meanwhile, Musk has mentioned that X Corp has no plans to launch crypto tokens sooner or later and “we by no means will.”
Samsung Galaxy S23, S23 Plus first look and impressions
Samsung on Tuesday introduced that it’s going to launch a brand new smartphone — Galaxy F34 5G on August 7 in India, that includes a large 6.5-inch FHD+ Super AMOLED 120Hz show.
The smartphone may also function a premium and signature Galaxy design and are available in 2 new colors — Electric Black and Mystic Green.
The show will come protected with Gorilla Glass 5. With Vision Booster know-how and 1000 Nits peak brightness, customers will get an immersive viewing expertise even in shiny daylight, whereas the 120Hz refresh fee will allow clean scrolling whereas looking, the corporate mentioned.
Samsung to launch Galaxy F34 on August 7 in India; key features tipped [details]IANS
Moreover, the brand new smartphone will function a 50-megapixel (OIS) No Shake Camera to shoot high-resolution and shake-free photographs and movies. The much-loved Nightography function from the flagship collection is being made extra accessible with Galaxy F34 5G, providing devoted features for capturing beautiful low-light pictures, Samsung mentioned.
Galaxy F34 5G may also sport Fun Mode, which has 16 completely different inbuilt lens results permitting customers to specific themselves via their smartphone digicam, plus it would include one other revolutionary digicam function — Single Take, that captures up to 4 movies and 4 photographs in a single shot. Further, the machine will include a segment-leading 6000mAh battery, enabling lengthy periods of looking and binge-watching.
Samsung Galaxy F54 5GIBT/Sami Khan
In different features, the Galaxy F34 comes with a Voice Focus function that can minimise background noise throughout voice and video calls, making certain crystal-clear conversations. The smartphone may also include immersive audio functionality powered by Dolby Atmos.
The machine will present up to 4 generations of OS upgrades and up to 5 years of safety updates, making certain customers can benefit from the newest features and enhanced safety for years to come. Galaxy F34 5G will include Samsung Wallet, and its Tap & Pay function, which tokenises and shops your credit score and debit playing cards on the telephone.
Reliance Brands to purchase 40% in toymaker Plastic Legno SPA, indicators three way partnership
Reliance Retail on Monday launched the all-new JioBook, a revolutionary studying ebook, designed to cater to all age teams at Rs 16,499.
Starting August 5, clients should purchase JioBook from Reliance Digital’s on-line and offline shops, in addition to by way of key on-line shops.
With its superior JioOS working system, trendy design and always-connected options, JioBook guarantees to redefine the studying expertise for each particular person.
Whether attending on-line lessons, studying to code, or exploring new ventures corresponding to beginning a yoga studio or delving into on-line buying and selling, JioBook will present an distinctive platform for all studying endeavours, the firm stated.
JioBook
“The all-new JioBook is our newest providing catering to learners of all ages with its superior options and seamless connectivity choices. We imagine JioBook will revolutionise the manner individuals study, opening new alternatives for private development and ability improvement,” Reliance Retail spokesperson stated in an announcement.
The device has the type issue of a compact laptop computer and a full keyboard connected to it. It weighs roughly 990 grams and has a glossy physique with a matte end.
JioBook
The JioBook comes with an 11.6-inch anti-glare HD show. It is powered by a 2.0 GHz octa-core processor and comes supported by 4 GB of RAM and 64 GB inner storage which might be expanded up to 256 GB with an SD card. It additionally has in-built USB/HDMI ports.
Moreover, the JioBook comes with options like 4G-LTE connectivity and dual-band WiFi capabilities.
The system has over 75 keyboard-based shortcuts and options like wi-fi printing, in accordance to the firm.
Flipkart Group walks the discuss; empowering 20mn Indians in subsequent decade by means of Flipkart Foundation
Retail large Walmart has reportedly paid $1.4 billion to purchase VC kind Tiger Global’s remaining shares within the e-commerce main. According to a report in Wall Street Journal, Walmart has paid the cash to increase Flipkart’s stake.
“Purchase of shares from Tiger Global values the Indian e-commerce firm at about $35 billion,” the report stated late on Sunday.
Walmart bought Tiger Global’s remaining holding in Flipkart to additional cement its management of the Indian e-commerce large. Tiger Global made an total achieve of $3.5 billion on an funding of $1.2 billion, stories talked about.
Besides Tiger Global, Flipkart co-founder Binny Bansal together with Accel, one of many earliest traders within the firm, have bid farewell to Flipkart by promoting their stake to Walmart.
Binny BansalCredit: Reuters
In 2018, the world took discover as international retail large Walmart determined to purchase a majority stake in Flipkart for a staggering $16 billion, underscoring the immense potential of India’s startup ecosystem. Despite the acquisition, co-founder Binny Bansal selected to retain a small share of his stake in Flipkart, demonstrating his perception within the firm’s imaginative and prescient and future prospects.
As of at present, Binny Bansal has formally divested his remaining stake in Flipkart, drawing the curtains on his journey with the corporate he co-founded.
Flipkart was earlier valued at $37.6 billion in a 2021 funding spherical. Walmart had 72 per cent share in Flipkart as reported final. Tiger Global held a 4 per cent stake within the e-commerce chief.
The departure of those stakeholders from Flipkart is a testomony to the transformative energy of e-commerce and strategic investments in India’s startup ecosystem. Their journeys function inspirations to aspiring entrepreneurs and traders, underscoring the potential for outstanding returns and success within the fast-paced world of digital commerce.
Flipkart’s payout to staff
Last month, Flipkart started a “one-time discretionary” money fee of $700 million to staff following its separation from fintech agency PhonePe.
[Representational Image]Reuters
In an electronic mail to staff, Flipkart Group chief govt Kalyan Krishnamurthy stated, “We have thrilling occasions forward, and as we proceed to develop throughout companies, I look ahead to your continued dedication and willpower to convey concerning the future that we envision and scale new heights collectively.”
The PhonePe Group was acquired by the Flipkart Group in 2016.
The Flipkart Group is considered one of India’s main digital commerce entities and consists of group firms Flipkart, Myntra, Flipkart Wholesale, Flipkart Health+ and Cleartrip.
Started in 2007, Flipkart has enabled thousands and thousands of customers, sellers, retailers, and small companies to be part of India’s digital commerce revolution, with a registered buyer base of greater than 400 million, providing over 150 million merchandise throughout over 80 classes.
Budget 2023-24: No tax on private Income as much as Rs 7 lakh
(*6*)
More than six crore revenue tax returns (ITRs) have been filed till July 30, even because the final date for submitting returns for salaried class ends on Monday.
“6.13 crore #ITRs have been filed till yesterday (thirtieth July).
The Income Tax division shared that 11.03 lakh ITRs have been filed upto 12 midday at the moment (thirty first July) & 3.39 lakh ITRs have been filed within the final 1 hour. Furthermore, the IT division have witnessed extra than 1.30 crore profitable logins on the e-filing portal till 6.30 pm on Sunday.
More than 6 cr Income Tax Returns filed till July 30, says IT divisionby way of Twitter
“To help taxpayers for ITR submitting, tax fee and different associated companies, our helpdesk is performing on 24×7 foundation, and we’re offering help by calls, stay chats, WebEx classes & social media. We lengthen our gratitude to taxpayers and tax professionals for serving to us attain this milestone, and urge all those that have not filed ITR for AY 2023-24, to file their ITR on the earliest to keep away from final minute rush,” the IT dept tweeted.
While the final date for submitting returns for salaried staff is at the moment, i.e. July 31, 2023, for professionals it’s December 31, 2023.
There aren’t any plans to increase the final date for submitting returns by the federal government as of now.
Apple Vision Pro teleports you into the longer term
Apple has launched the iOS 16.6 update that comes with over a dozen vital security enhancements, two of that are presently being exploited by hackers.
The tech large has shared particulars of over a dozen security flaws on its assist web page, starting from classes together with kernel, Find My, WebKit, and Apple Neural Engine.
According to Apple, two of the vulnerabilities had been almost certainly actively exploited.
The exploited WebKit challenge was first patched with Rapid Security Response iOS 16.5.1 (c). And the kernel flaw, which was almost certainly aggressively exploited, was in all probability fastened first with iOS 15.7.1.
IANS
However, Apple claims that iOS 16.6 addresses these vulnerabilities as properly.
To manually set up iOS 16.6, faucet on Settings then General > Software Update. Then, faucet Download and Install to kick off the update and preserve your iPhone protected.
Meanwhile, Apple has launched the iOS 17 public beta, which features a new StandBy mode, private voice function and extra. influencer Marques Brownlee revealed the private voice function on Twitter.
iPhone 14 ProIBT
According to Brownlee, the function is obtainable beneath Accessibility> Speech> Personal Voice. With this function, iPhone can create a voice that sounds just like the person in simply quarter-hour. TechCrunch reported that the iOS 17 public beta contains enhancements to Messages, new StandBy mode, and enhancements to Maps, widgets and dictation.
Similar to Mail, customers can now filter the search utilizing completely different standards in Messages.
Over the next few months, the possibilities of the Indian equity market present process a correction are excessive, mentioned a senior official of credit standing company Acuite Ratings & Research.
Going ahead, the market might even see sector particular momentum relying on components like international demand and uptick in personal sector investments, he added.
To a question whether or not the uptrend in the Indian inventory markets would proceed or come to an finish, Suman Chowdhury, Chief Economist and Head –Research informed IANS: “The Nifty (NSE 50 index) has yielded a return of 77.4 per cent over the final three years and even when one excludes the affect of the restoration from the pandemic, the one yr return on Nifty is at 14.5 per cent.”
This is increased than the returns in the developed markets for instance, the S&P500 has a 3 yr and one yr return of 40.1 per cent and 10.9 per cent respectively, he mentioned.
Indian inventory market graphic (Infographics : Pinaki Paul)IANS
According to him, the superior efficiency of the Indian equity markets to date has been as a result of home demand resilience, macroeconomic and monetary system stability, the elevated participation of home retail buyers and the gradual return of the international buyers in the present calendar yr.
“With the energy of home demand together with the pent-up demand for providers, nicely supported by the step-up in the general public investments in infrastructure, India’s GDP progress stood sturdy at 7.2 per cent in FY23,” Chowdhury remarked.
While the medium to long run progress prospects for India will stay sturdy, the gross home product (GDP) progress will reasonable to six per cent in FY24 given the worldwide slowdown and a few lagged affect of increased rates of interest on the financial system, Chowdhury mentioned.
Stock MarketIANS
“There are additionally potential dangers rising from a resurgence in oil costs and a surge in the meals costs in sure classes which may reverse the gradual downtrend in the headline inflation and make the rates of interest keep increased for an extended interval. Further, there may be additionally some aspect of political uncertainty that’s related to the upcoming common elections next yr,” he added.
Indian firms have seen a powerful earnings progress over the final three years pushed by the restoration in demand and in addition the softness in commodity costs.
With the normalisation in demand and no additional profit from decrease commodity, sustaining a excessive earnings progress might be a problem for the company sector in FY24. While the common worth to earnings for Nifty has moderated, it’s nonetheless excessive at round 24, he mentioned.
“Given such a state of affairs, the likelihood of a correction in the equity markets over the next few months is excessive. Nevertheless, the market could witness sector particular momentum going ahead relying on components like international demand and uptick in personal sector investments,” Chowdhury concluded.
Centre offers full fundamental customs obligation exemption on import of medicine for uncommon ailments
Amid complete chaos and bedlam in Lok Sabha on Friday, three bills had been handed inside minutes, which included the Mines and Minerals (Development and Regulation) Amendment Bill, 2023, which is able to enable personal sector to bid for mining essential minerals like Lithium.
After the passage of the three bills, the Lok Sabha was adjourned for the day till July 31.
The different two bills included the National Nursing and (*31*) Commission Bill, 2023 and the National Dental Commission Bill, 2023.
While the Mines and Minerals (Development and Regulation) Amendment Bill, 2023, was handed after a quick dialogue, the opposite two bills had been clubbed collectively and handed with out dialogue.
(*3*)
Even because the opposition saved up with their protests whereas leaping in the nicely of the House, searching for Prime Minister Narendra Modi’s response on Manipur violence and his presence in the House, the federal government first launched the IIM (Amendment) Bill after which inside half an hour, three bills had been handed.
Opposition members indulged in slogan shouting and termed the passing of bills although the no-confidence movement has been moved in the House, as “unlawful” and “a fraud on the Constitution.”
Leader of the Congress in Lok Sabha Adhir Ranjan Chowdhury was seen gesticulating angrily from his seat, at the same time as Sonia Gandhi watched the chaotic scenes quietly from her seat.
Coal, Mines and Parliamentary Affairs Minister Pralhad Joshi whereas piloting the Mines and Minerals (Development and Regulation) Amendment Bill, 2023, referred to as it as a “sport changer.”
Interestingly, as noisy protests by opposition members continued, each Joshi and Health Minister Mansukh Mandaviya went to the again benches, when their respective bills had been being handed, to keep away from the protesting members.
The Mines and Minerals (Development and Regulation) Amendment Bill, 2023, will enable personal sector to bid for mining essential minerals like Lithium.
Representational pictureReuters file
Out of the checklist of essential minerals, just a few of them have been introduced underneath the proposed modification, which is able to enable their mining by personal entities.
In addition, the proposed amendments will even enable Central authorities to public sale these minerals whereas the royalty will go to states.
In the invoice, it’s proposed to omit six minerals, particularly Beryl and different beryllium-bearing minerals, Lithium-bearing minerals, Niobium-bearing minerals, Titanium bearing minerals and ores, (*30*)-bearing minerals and Zirconium-bearing minerals and ores from the checklist of essential minerals.
Upon removing of those minerals from the mentioned checklist, their exploration and mining will probably be opened up for the personal sector as nicely.
As a consequence, exploration and mining of those minerals is predicted to extend considerably in the nation.
The National Nursing and (*31*) Commission Bill, 2023 offers for regulation and upkeep of requirements of schooling and providers by nursing and midwifery professionals, evaluation of establishments, upkeep of a National Register and State Registers and creation of a system to enhance entry, analysis and growth and adoption of newest scientific development.
The National Dental Commission Bill, 2023 will regulate the career of dentistry in the nation, to supply for high quality and reasonably priced dental schooling, and to make accessible prime quality oral healthcare.
Musk ‘loves’ his AI avatar in sherwani, Twitterati welcomes ‘Indian groom’
As Twitter is being rebranded as ‘X’, the corporate has taken over the @x handle on the platform without warning or compensating its authentic proprietor.
The proprietor of the @x Twitter handle confirmed that the corporate took over the account, telling him the handle is the property of X, experiences TechCrunch, citing sources.
The account had beforehand belonged to Gene X Hwang of the company images and videography studio Orange Photography.
In a letter, the corporate thanked Hwang for his loyalty, provided him a number of X merchandise and in addition prolonged an invite to go to X’s headquarters, as a “reflection of our appreciation”.
Twitter is now XIANS
Hwang was shocked the corporate hadn’t contacted him in regards to the @x account he owned and had put it non-public.
However, he said that he could be open to a dialog with the corporate in the event that they desired the handle for themselves.
Hwang mentioned that X gave him a letter informing him that the @x account is linked to X Corp. and that he can be given a brand new handle.
According to the corporate, all of his knowledge, together with his followers and following knowledge, could be transferred to his new account.
“It would have been good for them to compensate for it because it did have a number of worth to me, however issues are what they’re,” Hwang informed TechCrunch.
“Maybe I ought to ask for the chook from the signal since they have been dismantling that yesterday too,” he joked.
Musk had began hinting on the rebranding on Sunday with a collection of tweets, beginning with one which mentioned, “quickly we will bid adieu to the Twitter model and, progressively, all of the birds.”
Musk on Tuesday clarified, “Twitter was acquired by X Corp each to make sure freedom of speech and as an accelerant for X, the the whole lot app. This shouldn’t be merely an organization renaming itself, however doing the identical factor.”
“The Twitter identify made sense when it was simply 140 character messages going backwards and forwards — like birds tweeting — however now you possibly can put up virtually something, together with a number of hours of video,” he added.
Indonesia blocks Musk’s ‘X’ domain over playing, porn historical past
Elon Musk’s rebranding of Twitter as ‘X’ has resulted in the microblogging platform being briefly blocked in Indonesia, owing to the nation’s strict legal guidelines prohibiting on-line pornography and playing.
According to Indonesia’s Ministry of Communication and Informatics, the domain had beforehand been utilized by websites that didn’t adhere to the nation’s strict legal guidelines in opposition to “damaging” content material equivalent to pornography and playing, experiences Al Jazeera.
Director General of Information and Public Communication on the ministry, Usman Kansong, said that the federal government has been in contact with X to realize readability on the character of the web site.
“Earlier immediately, we spoke with representatives from Twitter and they’ll ship a letter to us to say that X.com can be utilized by Twitter,” Kansong was quoted as saying.
Twitter, Elon MuskIANS
Due to the current transfer, Indonesians are presently unable to entry the platform, which is alleged to have roughly 24 million customers in a inhabitants of 270 million individuals, the report mentioned.
In 2022, Indonesian authorities threatened to dam web sites equivalent to Netflix, Google, Instagram, and Facebook if they didn’t take away “content material deemed illegal, or that disturbs public order”. Netflix and TikTok have been beforehand banned in the nation, in 2016 and 2018, for “inappropriate content material”.
Musk introduced the sudden change as half of a bigger plan to rework Twitter right into a “tremendous app” just like China’s WeChat. In concept, X can be utilized for funds, messaging, and different non-social duties. Meanwhile, Musk has had an extended historical past with the letter and model “X”. The most well-known instance is SpaceX, one other firm in which he serves as CEO. Then there’s xAI, Musk’s AI-focused enterprise, and X Corp, his company shell agency. He even named his son “X Æ A-Xii”. Musk purchased again the X.com domain in 2017 after being the unique proprietor since 1999.
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