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Alibaba said in talks to buy ZTE's software arm for cloud unit
Alibaba Group Holding Ltd is closing in on a deal to acquire Chinese telecommunications gear maker ZTE Corp.'s software subsidiary, an acquisition that could help strengthen its global internet computing business, people familiar with the deal said. Alibaba could pay between 2 billion yuan ($294 million) and 3 billion yuan for a division that provides software support and services to carriers around the world, another person said.
You can file income tax returns even without Aadhaar
If you do not have the 12-digit biometric Aadhaar, you can still go ahead with filing your income-tax return on July 1. For, the government notification on linking Aadhaar with PAN does not apply to those who do not possess Aadhaar or have not applied for the 12-digit biometric identification.
Troubles behind it, Cadila surges ahead
The shares of pharma major Cadila Healthcare, also known as Zydus Cadila, have been on a roll for the past few weeks. Cadila has edged past Lupin to become the second-most valuable pharmaceutical company by market capitalisation at Rs 54,719 crore. While the Moraiya plant was under USFDA scanner, Cadila share was trading at a discount to its peers. Having successfully launched eight biosimilars in India, Cadila Healthcare aims to enter the biosimilars space in the US.
Petya malware attack potent, uses multiple techniques: IT security firms
The attack, which comes within weeks of a similar cyber attack called WannaCry, has been spreading through Europe, and seems to be making its way into India. Security solutions company Sophos said the latest version of malware is particularly virulent because it uses multiple techniques to spread automatically within a company's network once the first computer is infected. From the government to the boardroom, leaders need to make cyber resiliency a requirement, putting focus and funding behind it, he noted.
F1 2017: Force India Could Be Rebranded As Force One
The only team to represent India on the grid, Force India has been on the grid for a decade now but could soon get a name change, a recent report suggests. Documents seen by Motorsport.com state that a series of UK based companies were registered on 31st May and 6th June 2017 under the 'Force One' name. With limited backing from Indian sponsors and diminutive interest for Formula 1 in India, the team is looking to adopt a more global name.
Aston Martin's DB11 Gets A New Twin-Turbo V8 Engine
It's been little over a year since Aston Martin launched its latest grand tourer (GT) - the DB11. As the car successfully completes a year in the market, Aston Martin has now introduced a new twin-turbocharged 4-litre V8 engine for the DB11, in addition to its existing 5.2-litre V12 motor. Aston Martin believes that this new engine will expand the DB11's global appeal with a 'combination of performance and improved efficiency.
US VP Mike Pence expresses desire to visit SpiceJet office in India
US Vice President Mike Pence has expressed his desire to visit budget carrier SpiceJet's office on his trip to India in a meeting with the airline's chief Ajay Singh. Pence had met Singh yesterday on the sidelines of the annual gala of the US-India Business Council (USIBC). Pence informed Singh that he was invited by the PM to visit India which he has accepted. Singh also gifted a SpiceJet aircraft model to Pence for President Trump.
Alibaba spending $1 bn to raise stake in Southeast Asia's Lazada
Chinese e-commerce giant Alibaba Group Holding Ltd will invest an additional $1 billion in Southeast Asian online retailer Lazada Group, boosting its stake by nearly a third to 83 percent, the two companies said in a joint statement. The move doubles Alibaba`s investment in the firm after last year`s deal to buy a controlling stake in Lazada for about $1 billion. In the twelve months ended March 31, 2017, Lazada had about 23 million annual active buyers, according to Alibaba`s annual report.
Yes Bank partners with Hike messenger to power payments platform
Yes Bank has partnered with Hike messenger to power Unified Payments Interface (UPI) based payment solutions. This partnership will instantly provide UPI access to over 100 million Hike users and provide a significant fillip to India's digital payments ecosystem. The UPI integration has been done on the back of Yes Bank's API Banking platform.
Volkswagen gets outlook boost from Fitch on diesel clarity
Volkswagen AG's debt outlook was raised to stable from negative at Fitch Ratings, which said the bulk of operational and financial risks from the carmaker's diesel-emissions scandal are now known. The stable outlook means the credit-reporting firm is unlikely to change VW's rating soon. Volkswagen has set aside EUR22.6 billion ($25.7 billion) so far to pay for fixing or buying back vehicles, fines and other penalties.
Loan growth to pick up to 15% in 2017-18: Bank of America report
Loan growth in the country is expected to pick up to 15% in 2017-18, from 9.1% in the previous fiscal, as demonetisation shock fades, says a report. According to a Bank of America Merrill Lynch report, loan growth in the country is now at a historic low and is expected to bottom out.
Chennai office rejects Tencent's patent application for online ads
Tencent had filed the patent application with the Chennai Patent Office in 2009. A network media publishing an online advertisement generally has numerous and complicated resources, each with different audience characteristics and attributes. Tencent's invention provides a method and apparatus that increases the chances of finding an online advertisement resource, the company claimed in a patent filing. The Patent Office raised objections stating that the method is a mere software application and hence not patentable under Sections 3(k) and 3(m) of Patents Act.
IPL sponsorship: Vivo gets contract until 2022 edition for Rs 2,199 cr
The association with the IPL has been extremely beneficial for their brand, said a senior Vivo official after the mobile-phone maker bagged the T20 league's title sponsorship rights for the next five years with a whopping Rs 2,199 crore bid. Vivo, which was roped in as the IPL title sponsor for the last two seasons after Pepsi's exit, won the bid for the next five-year cycle on Tuesday.
Cyber attack: JNPT asks APM to divert cargo to other terminals
India's largest container port JNPT today asked operator AP Moller-Maersk to divert traffic of its terminal hit by the ransomware attack to other two units after operations slowed. There is a slowdown in operations at the GTI Terminal and we have to reduce the impact on the exim trade. We have asked them to divert traffic to the other two terminals, a senior port official told.
GST rollout from July 1: What industry experts are saying on the uniform indirect tax reform
The Goods and Services Tax (GST) will come into force from July 1 and the country is bracing for one of its biggest tax overhauls in history. GST will bring in a uniform indirect tax system by subsuming various central, state and local indirect taxes and levies. The rollout of the GST will mean that multiple indirect taxes levied by both the Centre and states will be done away except for customs duty.
Gujarat cloth markets shut on day 2 of stir against GST
The merchants will decide on extending the stir after GST Council's last meeting on June 30. The three-day protest ends on June 29 before the GST Council meets for the last time on June 30. If the council does not decide on scrapping the five per cent GST on textiles, we will extend our protest, said GST Sangharsh Samiti president Champalal Bodhra.
After Mumbai, UberEATS rolls out services in Gurugram
The service is rolled out in Gurugram and will be expanded to other parts of NCR in future, Uber said. About 300 restaurants have signed up so far in Gurugram. This is the second city for UberEATS after it launched in Mumbai on 2 May Uber has hired Faiz Abdulla, who was most recently with Housing.com, as general manager for Delhi-NCR region. Abdulla earlier set up two food businesses-a quick service restaurant chain Kaboom and ice cream brand Sucres des Terres-in Mumbai, the company said.
Tourists will miss view of overflowing Narmada river in Guj
From this year onwards tourists will not be able to enjoy the view of an overflowing Narmada river at Sardar Sarovar dam site as the Gujarat government has closed all the 30 gates of the dam. The Gujarat government closed all the 30 gates of the dam, raising the water level of the reservoir to 138.68 metres from 121.92 meters on June 18.
Toshiba sues Western Digital in feud over memory unit sale
said today it is suing its joint venture partner Western Digital over the US company's opposition to a plan to sell the Japanese electronics and energy giant's memory chip unit. Financially strapped Toshiba needs the cash from selling its flash memory unit to survive, but Western Digital contends its Japanese partner has no right to sell the memory chip unit without its consent. There was no immediate comment from Western Digital as 140-year-old Toshiba convened a shareholders meeting Wednesday outside Tokyo.
CASHe leads in fin-tech based personal lending business with over
What makes this achievement even more commendable is that it has taken CASHe just over one year to reach this disbursement figure by amassing a huge loyal customer base through its technology-enabled lending platform and a robust product portfolio. The company said, it expects to reach a total loan disbursement of Rs 500 crore by the end of FY 2017-18. Our focus on introducing paperless lending and verification process and real-time tracking through technology has made us a clear market leader.

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