UBER CORRUPTION
Adani Group wants a slice of India's payments and e-commerce pie: Report
India's Adani Group is seeking a licence to operate on the public digital payments network and is in talks with banks for a co-branded credit card. The conglomerate also plans to offer online shopping via the govt-backed Open Network for Digital Commerce (ONDC), according to the Financial Times.
A taste of Europe trip at half the cost: How to plan Kazakhstan or Georgia or Azerbaijan or Uzbekistan or Kyrgyzstan trip for Rs. 1 lakh
A clutch of countries in the south of Caucasus and Central Asia provide a whiff of Europe without snapping your budget. Within sniffing distance of Europe and straddling the Eurasian cusp, these are perfect destinations as they combine unsurpassed natural beauty with cultural overdose. Detailed budget and itinerary for Kazakhstan, Georgia, Azerbaijan, Uzbekistan and Kyrgyzstan trips this summer. Happy holidays!
77th Independence Day echoes nationwide, yet in muted tones in Manipur and Himachal Pradesh
The 77th Independence Day was celebrated across states and union territories on Tuesday with colourful events and cultural programmes as some chief ministers announced new development and job schemes, while others counted the achievements of their governments. But the celebrations were muted in strife-torn Manipur and rain-battered Himachal Pradesh.
The true threat of artificial intelligence
In May, more than 350 technology executives, researchers and academics signed a statement warning of the existential dangers of artificial intelligence. "Mitigating the risk of extinction from A.I. should be a global priority alongside other societal-scale risks such as pandemics and nuclear war," the signatories warned.
Why Tim Draper is betting on Sri Lanka’s unlikely startup scene
Over the last decade, the South Asian nation has increased the number of startups from a few dozen to over 550. Even with that progress, Mahela Jayawardene, a cricket star who has invested in a grocery delivery startup called Providore, said the country hasn’t grasped “even 10% of what can be done with tech in areas like health care, transport and financial payments.”
When the AI goes haywire, bring on the humans
The AI software used by Fair Isaac Corp, a credit scoring giant, told banks to deny millions of legitimate purchases, early during the COVID-19 pandemic
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In soggy IT city, ‘cloud’ gets a new meaning
The Outer Ring Road (ORR) Companies Association, a group of tech firms, put out an advisory on Monday, urging tech workers to work from home and extreme caution from those who must attend office. Technology workers had a tough time navigating the ORR stretch — home to about 500 tech companies — after traffic slowed to a crawl.
Displaced by war, Ukrainians open a new front as entrepreneurs
Dudyk is among thousands of Ukrainians who are picking up shattered lives and trying to start over, many creating small businesses that they hope will bring them and their new communities fresh purpose.
Lightspeed closes $500M fund for India, SE Asia; Vivo asks ED to unfreeze accounts
Silicon Valley venture capital firm Lightspeed Venture Partners has closed its latest fund for India and Southeast Asia at half a billion dollars, almost twice the size of the previous one.
Dodging raids, passing the buck were key to Uber’s strategy: report
Uber finds itself under the spotlight after an international investigation reveals illegal tactics, secret political lobbying, and ethically questionable practices.
Prince Alwaleed bin Talal: Saudi Arabia's self-styled Warren Buffett no longer rules alone
For years, Prince Alwaleed bin Talal has made hundreds of millions of dollars by investing in companies from Citigroup to Uber to Twitter with almost complete autonomy. Now, his Kingdom Holding investment firm counts Saudi Arabia's Public Investment Fund as a minority shareholder and the powerful sovereign wealth fund is unlikely to sit on the sidelines.
Why global tech turns to Indian talent
Executives and experts say that beyond the South Asian nation's sheer size, the phenomenon is due to multiple push-pull factors and skillsets including a culture of problem-solving, the English language, and relentless hard work.
End of a ‘Gilded Age’: China is bringing business to heel
Under Xi, China is reshaping how business works and limiting executives’ power. Long in coming but rapid in execution, the policies are driven by a desire for state control and self-reliance as well as concerns about debt, inequality and influence by foreign countries, including the United States.
Amazon’s India corruption probe; Facebook’s new public policy head
Amazon has begun an investigation into allegations of corruption by its legal representatives in India and has placed a senior member of the team on leave, The Morning Context reported earlier today.
ED issues notice to crypto exchange
From ED issuing a notice to crypto exchange WazirX to Karnataka HC dismissing the petition of etailers and Didi Chuxing filing for US IPO, here's a quick look at the top tech news today.
Transport strike in Delhi today, likely to choke metro as cab drivers protest hefty fines
41 transporters' unions under the banner of United Front of Transport Associations (UFTA) are protesting against the amendments to the MV act.
Uber not alone in facing US probe for India ‘graft’
Cognizant is among a dozen firms rapped by SEC since 2016 for alleged corrupt practices in India.
Daily wager, delivery man, journo among candidates from Bengaluru
Bengaluru has always had several independent candidates and lesser-known parties trying their luck at the hustings.
The strange story of Uber’s massive fund raising deal from the Saudi government
The $3.5 bn deal is now drawing Uber into a global reckoning over the business world's ties with Saudi.
Uber's competitive obsession led to an unravelling
Uber's employees went slogging to recruit drivers; when it weighed which laws to bypass, it looked to which ones competitors were breaking.
D-Street bulls tired? Banker to the uber rich say market rally may be peaking
Domestic wealth managers are reaping benefits of shift into equities and out of real estate.
Indian startups scurry to learn from Silicon Valley scandals
"It has really hit us now that this can take on mammoth proportions," said investor Krishnan Ganesh.
State election results in March may add steroids to bulls; buy on dips
Traders should keep a low profile during the corrective phase and go all out when the market clearly breaks above 9,000 on the Nifty50.
Can't accept policy on app-based cabs as it is: Govt to HC
Delhi government said that it will "apply its own mind" and implement the policy according to the needs of the national capital and sought two months' time to formulate its own norms.
E-commerce firms issue advisories, restrict cash on delivery orders
Flipkart and Snapdeal have capped CoD orders to Rs 1,000 and Rs 2,000 respectively, and asked customers to pay using lower denomination notes.
Government launches e-marketplace to bring transparency in purchase for staff
The portal or marketplace is another step towards streamlining government spending, plug leakages and stamp out corruption.
Bill to bring cab aggregators like Uber, Ola under greater regulatory supervision on anvil: Government
Gadkari said the new proposed legislation would have various provisions including verification of drivers, installation of GPS and other issues.
Women's safety first, corruption 7th on my agenda: Kiran Bedi
Kiran Bedi on her plans for Delhi, contesting elections & friend-turned-foe Kejriwal.
Taxi rules must be changed to keep with times
Every cab that operates "on a time basis" or "from one point to another" within a city and its suburbs falls in the category of "contract carriage".
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