Pushing multi-device control to our palms is what the Internet of Things (IoT) promised but has never been restricted to. Ever since we have praised it to the skies, the technology’s propelling reach to our lifestyles has been a fascinating endeavour, says Yash Mehta, an IoT and Big Data Science specialist. Not only has it […]
WeWork India leases office space in Goregaon
New York-headquartered collaborative workspace major WeWork’s India arm has picked up nearly 2.3 lakh sq ft office space at Nesco IT Park in Goregaon suburb of Mumbai on a long-term lease, several persons with direct knowledge of the development, said. The company has leased eight floors and the total tenure of the deal is 10 […]
Bar set high for insurance sandbox play
Rejections await many of the 150-odd insurance and fintech applicants that are keen to participate in the sandbox project of India’s insurance regulator, regional precedents show. In Singapore, the rejection rate for the regulatory sandbox project was as high as 90%, and the Insurance Regulatory and Development Authority of India (Irdai) may have a similar […]
Ecommerce companies, startups step up campus hiring
Ecommerce companies and startups are stepping up hiring by 50-100% from India’s leading engineering colleges and B-schools this placement season as they seek candidates who are quick to learn new-age tech skills such as Big Data and Internet of Things and adapt to fast-paced business environments. Udaan, Droom, Flipkart, Amazon, Toppr, Testbook and NoBroker are […]
After France, Italy approves digital tax on tech giants
Following the footsteps of France, Italy has approved a new tax to be levied on large tech companies, a move that is likely to put more strains on the country’s relations with the United States. Passed this week by Italy’s Parliament, the new tax will come into force on January 1, the Wall Street Journal […]
CSCs to offer free Wifi till March 2020
Common service centres will give internet free to individuals and institutions through BharatNet — a countrywide optical fibre network — till March next year, Union minister for electronics and IT, Ravi Shankar Prasad, said on Wednesday. “We have already connected 1.3 lakh gram panchayats through BharatNet…Our target is to take this to 2.5 lakh panchayats. […]
DPIIT to soon issue clarification on 26% FDI in digital media sector
The Department for Promotion of Industry and Internal Trade (DPIIT) is expected to soon issue a clarification on the issues raised by certain stakeholders over the government‘s decision to permit 26% FDI in digital media sector, according to sources. Certain industry players and experts have stated that the move to cap foreign direct investment (FDI) […]
Internet shutdown leaves UP at a net financial loss
The internet shutdown in parts of Uttar Pradesh due to the protests over the Citizenship Amendment Act has hit banking services, including movement of cash and branch operations. Bankers told ET that transactional services had come to a halt, and merchants were finding it hard to conduct business. “We have seen our business in certain […]
Foodpanda losses widen to Rs 756.4 crore in FY19
Foodpanda, owned by ride-hailing company Ola, has posted a wider loss of Rs 756.42 crore for FY19 compared to the previous fiscal, as per regulatory documents. Pisces Eservices, which operates Foodpanda, had registered loss of Rs 227.95 crore in FY2017-18, documents filed with the Corporate Affairs Ministry and accessed by business intelligence platform Tofler showed. […]
Payments banks’ FY19 losses swell to Rs 626 crore
Payments banks — including those floated by Paytm, Reliance Jio, Airtel and Fino — saw their aggregate losses mount 21% to Rs 626 crore during fiscal 2019 from Rs 516 crore in the previous year. “The limited operational space available to them and the large initial costs involved in setting up of the infrastructure imply […]