The past week has been a rollercoaster of events, from Apple‘s soaring demand in India to escalating tensions between India and Canada. Let’s dive into the major stories from India’s finance world that made headlines.
Apple’s iPhone Mania in India
Apple’s market share in India is set to witness a significant boost, thanks to the overwhelming demand for the iPhone 15 Pro. The tech giant’s latest offering has garnered immense attention, with fans lining up for hours outside Apple stores in Mumbai to get their hands on the device. Read the full article here.
India-Canada Diplomatic Strife
The diplomatic ties between India and Canada have hit a rough patch. Listed Indian firms are bracing for potential repercussions due to the strain in relations. BLS International, an India-based firm, briefly announced the suspension of visa services for Canadians, only to retract it later. The backdrop of this turmoil involves allegations of India’s involvement in the murder of a Sikh separatist leader in British Columbia, which India has categorically denied. The situation escalated further when India suspended new visas for Canadians and trimmed its diplomatic ties. Read the full article here.
Cricket World Cup: Gaming Companies Pull Back
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The upcoming ICC Men’s World Cup has seen a surprising pullback from online gaming platforms, particularly in the fantasy sports niche. The revised GST law, which imposes a 28% tax on the full face value of online gaming platforms, is the primary culprit behind this decision. Read the full article here.
SBI Life Joins Hands with BCCI
The Board of Control for Cricket in India (BCCI) has announced a collaboration with insurance giant SBI Life. This partnership, spanning from 2023 to 2026, commences with the India-Australia ODI series. Read the full article here.
Zuckerberg’s Focus on India
Mark Zuckerberg, the CEO of Meta, highlighted India’s role in leading the world in innovative business practices during a virtual address. He announced that WhatsApp, a Meta-owned messaging app, will introduce new payment features for its Indian users, including support for all UPI apps. This move aims to tap into the revenue potential of one of WhatsApp’s largest global markets. Read the full article here.
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