Ruling out any change in the proposed 28% GST on online gaming and casinos, government sources said it is prudent to stick to levying tax on the gross value as any other method comes with complications in businesses that lack transparency. The gaming industry has been seeking a review of last month’s GST Council decision, … Read more
Mark Zuckerberg sees an “awesome” and unexpected opportunity with Threads. The new app quickly gained 100 million users, although retention has proven more difficult. When the time is right, Zuckerberg is prepared to do what he can to make it successful long term. Something is loading. Thanks for signing up! Access your favorite topics in … Read more
Elon Musk on Sunday announced that the x.com URL will now be directed to the microblogging website Twitter. He also said that the interm X logo will go live later in the day. The announcement comes hours after Musk said that he plans to change the logo of Twitter to an “X” from the famous … Read more
Treasury Secretary Janet Yellen said China’s economic slowdown risks causing ripple effects across the global economy, though she doesn’t expect a recession in the US. “Many countries do depend on strong Chinese growth to promote growth in their own economies, particularly countries in Asia — and slow growth in China can have some negative spillovers … Read more
Netflix launched its video game streaming service in November 2021, investing in mobile app games. The streaming giant has since purchased multiple development studios and increased gaming-focused staff. The pivot to interactive streaming comes as Netflix’s growth has slowed to single digits. As Netflix chases younger audiences and grapples with keeping its current subscribers content, … Read more
Days after exiting the $19.5 billion Vedanta chip plan in India, Taiwan-based Foxconn has proposed to set up a Rs 8,800 crore supplementary plant in Karnataka. Karnataka’s large and medium industries minister M B Patil said on Monday that the major iPhone assembler for Apple has plans to invest Rs 8,800 crore for the plant … Read more
India is set to double its commercial fleet and airport capacity in metro cities in the next three to four years, Union minister of civil aviation Jyotiraditya Scindia said on Friday. “There will come a time in India, in the not-too-distant future, the next three years, four years, where our fleet capacity will grow from … Read more
Temu may have better deals than Amazon during Prime Day. Amazon excludes Temu from its price-comparison algorithm, Reuters reported. Consumer user data indicates that Temu could be a serious threat to Amazon’s mobile app traffic. Prime Day shoppers may find lower prices on Temu. Amazon, for its part, isn’t even trying to compete on prices … Read more
The dollar’s dominance in financial markets won’t last forever, Paul Krugman said. But fears that the dollar will be replaced anytime soon are largely unfounded. According to the economist, there are no better alternatives to the US currency at the moment. The dollar’s status as the top global reserve currency isn’t going to last forever … Read more