US says it could remove India from currency monitoring list; Facebook shareholders back proposal to remove Mark Zuckerberg as chairman; PNB fraud: ED seizes over Rs 218 crore assets of Mehul Choksi, others;  Reliance Industries posts highest ever net profit of Rs 9,516 crore in Q2. Watch more in this episode of Business Wrap.

US says it could remove India from currency monitoring listThe US could remove India from its currency monitoring list of major trading partners, the Treasury Department has said, citing certain developments and steps being taken by New Delhi which address some of its major concerns. India for the first time was placed by the US in its currency monitoring list of countries with potentially questionable foreign exchange policies in April along with five other countries - China, Germany, Japan,...

Facebook Inc has tentatively concluded that spammers looking to make money, and not a nation-state, were behind the largest-ever data theft at the social media company, the Wall Street Journal reported on Wednesday.

The current proposal, meant for Facebook's annual shareholder meeting in May 2019, asks the board to create an independent board chair to improve oversight, a common practice at other companies.

Tencent Games, in sponsorship with OPPO Mobile, is hosting PUBG Mobile Campus Championship, a first-of-its-kind mobile gaming tournament targeted specifically at college students across India. As the championship follows the game's massive success in the country.

There is a reason why Denmark, last year, announced the role of a Digital Ambassador. The ambassador is based out of Silicon Valley to practice what many call 'Techplomacy'.

Facebook is taking a leaf out of WhatsApp's book. The social network's IM platform, Messenger is testing an 'Unsend' feature. This is similar to 'Delete for Everyone' on WhatsApp.

RBI's local data storage norms kick in today; foreign firms seek more timeThe RBI's deadline for global financial technology (fintech) companies to comply with its data localisation norms kicks in today. Senior officials said the deadline will not be deferred despite requests from foreign companies as they have already been given six months to prepare their systems for local storage of data. Mastercard, Visa, PayPal, Google, Amazon and Facebook are reported to have met Finance Minister Arun J...

The RBI had made it clear that global payment companies will have to store transaction data of Indian customers within India. The US government is backing its tech giants on the issue.