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Biz EOD: Bangladeshis may get richer than Indians; Rs 21,344 taxes, duties for iPhone 12 mini; Tanishq's lack of courage

Catch top stories from the world of business and economy with BusinessToday.In's Biz EOD report

twitter-logoBusinessToday.In | October 15, 2020 | Updated 00:14 IST
Biz EOD: Bangladeshis may get richer than Indians; Rs 21,344 taxes, duties for iPhone 12 mini; Tanishq's lack of courage
Top stories from the world of business and economy

Thanks to India's huge population and persisting economic challenges, Bangladesh may have a higher per capita GDP than India in 2020 and also in 2025. Why is Apple selling iPhone 12 mini for around Rs 70,000 in India when it is available for $699 in the USA? It is deeply worrying when a corporate entity such as Tanishq steps back from taking a social stand and bows to commercial considerations. Read for more top stories from the world of business and economy:

1. Why Bangladeshis will soon be richer than Indians

IMF estimates that the per capita GDP of India will increase from $1,876 in 2020 to $2,729 in 2025, while Bangladesh's per capita GDP, $1,887 in 2020, will rise to $2,756 by 2025.

2. Consumers to pay Rs 21,344 in taxes, duties for Rs 69,900 iPhone 12 mini

iPhone 12 mini: When it comes to calculating local pricing before the launch, other than country-specific duties and taxes, companies like Apple have to keep a buffer for currency fluctuations as well.

3. Pre-packs insolvency resolution: MS Sahoo panel to submit report in a week

Pre-packs are popular in many countries as an alternative to lengthy insolvency processes as they are faster, cheaper and are done with statutory sanctioning.

4. Tanishq ad row: Lack of courage to take a social and moral stand

Withdrawing the Tanishq ad seems to convey a lack of courage to take a social and moral stand - both of which are not great associations for the brand.

5. Infosys Q2 profit rises 20.5% to Rs 4,845 crore, raises FY21 revenue guidance

Infosys Q2 results: The Bengaluru-based IT major has raised revenue guidance for the current fiscal to 2-3 per cent in constant currency, from 0-2 per cent earlier.

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