Ali Express, AliPay, CamCard among 43 Chinese apps banned
India on Tuesday banned 43 Chinese mobile apps, under Section 69A of the Information Technology Act. The government said the apps engaged in activities "prejudicial to India's sovereignty, integrity, defence, security, and public order." The list of banned apps include AliExpress, AliSuppliers, Lalamove India, Mango TV amongst others.
Russia's Sputnik V shows 90% efficacy against COVID-19; to be priced under $20
Russia has claimed 95 per cent efficacy for Sputnik V, the COVID-19 vaccine developed by its research institution Gamaleya National Centre. The efficacy data is based on trials being conducted on 18,794 volunteers who have already taken first and second doses of the vaccine. The jab will cost less than $20 for a two-dose regimen for international supplies, half the price of other vaccines that are in final stages of clinical trials.
Labour market failed to employ enough workers this festive season: CMIE
The labour market failed to absorb enough workers this festive season despite labour participation touching 41.3 per cent in the week ended October 25. The market has weakened in the last four weeks since reaching the October high, wherein key indicators such as labour participation and employment rate fell in each of these weeks, said CMIE CEO Mahesh Vyas. He also cautioned that the recovery seen in the increased economic activity till September or October is "running out of steam."
Corporate debt reduces by Rs 68,000 cr in H1FY21; RIL, IOC, BPCL ease burden
Reliance Industries and two other oil majors - Indian Oil Corporation and Bharat Petroleum Corporation - apparently managed to diffuse the ticking corporate debt bomb. Standalone debt of the BSE 500 companies, excluding banking and financial firms, has actually fallen for the first time since Financial Year 2010-11, by Rs 67,976 crore, in first half of the current fiscal. Nearly 58 per cent firms saw a reduction in their debt while over one-third of them witnessed an increase in the first half of the fiscal.
Two-wheeler exports to witness stable growth in second half of FY21-22
India's two-wheeler exports will see sustained growth in the second half of next fiscal after witnessing temporary hurdles in the first half this year, said India Ratings. India exports two-wheelers mainly to African, Asian and Latin American countries, constituting 37.5 per cent, 22.9 per cent and 21.4 per cent, respectively, during the first half of FY21. Indian OEMs will continue to gain traction for their key offering on the back of their strong market position and robust distribution network.
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