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Thanks to solid demand for server memory chips and higher margins in contract manufacturing, South Korea's Samsung Electronics is likely to post a record fourth-quarter profit.

South Korea's Samsung Electronics is likely to post a record fourth-quarter profit

Amid the ongoing semiconductor shortages globally, Toyota dethrones GM after nearly a century as it sells 2.332 million vehicles in the US in 2021.

Toyota dethrones GM after nearly a century as it sells 2.332 million vehicles in the US in 2021

Japan's tech giant Sony plans to establish a new electric vehicle firm. A prototype vehicle is already being tested on public roads.

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Apple has become the world's first company to hit a three trillion dollar stock market value, as investors are bullish on iPhone makers' future prospects and are hopeful that the US firm will keep launching best-selling products.

Apple's shares peak for the second day after touching $3 trillion market value

A US judge has rejected BlackBerry Ltd's bid to dismiss a long-running lawsuit claiming it defrauded shareholders by inflating the success and profitability of its BlackBerry 10 smartphones, and said the class-action case could go to trial this fall.

BlackBerry loses bid to dismiss lawsuit in US, fall trial possible

Electric cars made up nearly two thirds of Norway's new sales in 2021, with Tesla the top selling automobile brand overall.

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Daimler, the luxury carmaker expects chip supply to remain scarce throughout 2022, particularly in the first half of the year.

Daimler expects chip supply to remain scarce throughout 2022

India's exports crossed $300 billion in the first 9 months of 2021-22 for the first time. December 2021 also saw the highest ever level of monthly outbound trade at $37 billion.

India: Exports cross $300 bn in first 9 months of 2021-22

OPEC+ production group is expected to stick to its plans to increase output in February when it meets on Tuesday.

OPEC+ expected to stick with planned February output increase

India exported commodities worth $37.29 billion in December, the largest monthly total ever, as demand for engineering products, petroleum products, and gems and jewellery continued to surge.

According to preliminary figures issued by the commerce and industry ministry, India's merchandise exports totaled approximately $300 billion in April-December, rising 48.85% year on year and 26% compared to the same period in 2019.

This means India met three-quarters of its $400 billion annual export target in the first nine months of FY22.&nbsp;

The number has exceeded the exports of 2020–21, which were at $290 billion.

"With $300 billion in the first nine months of 2021-22, we are on track to achieve our target," Commerce and Industry Minister Piyush Goyal told reporters on Monday.

"If we look at the data from 2016 to December 2021, the export of every month from April to December 2021 is historical. Exports worth $103 billion have been seen in the three months of October, November, and December, the highest to date," Goyal said.

The report also revealed that the top ten primary commodity groupings, which account for 80% of exports, increased by 41% year on year, with each recording an increase.

Engineering items, which account for 26% of all exports, have increased by 37% year on year.

Similarly, exports of gems and jewellery, which account for 8% of the total, increased 15.8% year on year.

In December, India's merchandise imports totalled $59.27 billion, up 38.06 percent from the previous year and 49.7% from December 2019.

The trade imbalance was $21.99 billion, up from $15.75 billion the previous year.

In the first nine months of this fiscal year, services exports are forecast to total $179 billion.&nbsp;

The ministry does not expect any immediate supply chain interruption as a result of the Omicron variant threat.

While there may be some short-term interruption, the minister expects industrial activity to continue.

Omicron is rapidly spreading across developed countries such as the United States, Europe, and West Asia.&nbsp;

(With inputs from agencies)

India exported commodities worth $37.29 billion in December, the largest monthly total ever, as demand for engineering products, petroleum products, and gems and jewellery continued to surge.

India exported commodities worth $37.29 billion in December, the largest monthly total ever, as demand for engineering products, petroleum products, and gems and jewellery continued to surge. According to preliminary figures issued by the commerce and industry ministry, India's merchandise exports totaled approximately $300 billion in April-December, rising 48.85% year on year and 26% compared to the same period in 2019. This means India met three-quarters of its $400 billion annual export target in the first nine months of FY22. The number has exceeded the exports of 2020–21, which were at $290 billion. "With $300 billion in the first nine months of 2021-22, we are on track to achieve our target," Commerce and Industry Minister Piyush Goyal told reporters on Monday. "If we look at the data from 2016 to December 2021, the export of every month from April to December 2021 is historical. Exports worth $103 billion have been seen in the three months of October, November, and December, the highest to date," Goyal said. The report also revealed that the top ten primary commodity groupings, which account for 80% of exports, increased by 41% year on year, with each recording an increase. Engineering items, which account for 26% of all exports, have increased by 37% year on year. Similarly, exports of gems and jewellery, which account for 8% of the total, increased 15.8% year on year. In December, India's merchandise imports totalled $59.27 billion, up 38.06 percent from the previous year and 49.7% from December 2019. The trade imbalance was $21.99 billion, up from $15.75 billion the previous year. In the first nine months of this fiscal year, services exports are forecast to total $179 billion. The ministry does not expect any immediate supply chain interruption as a result of the Omicron variant threat. While there may be some short-term interruption, the minister expects industrial activity to continue. Omicron is rapidly spreading across developed countries such as the United States, Europe, and West Asia. (With inputs from agencies)

India's exports hit an all-time monthly high in December

Morgan Stanley has agreed to pay 60 million dollars to settle a lawsuit by customers who said the wall street bank exposed their personal data.

Morgan Stanley has agreed to pay 60 million dollars to settle a lawsuit

New Year 2022 has begun with new hopes and expectations. Some analysts are hopeful, while others are cautiously optimistic about the year ahead.

The Year 2022 for financial markets amid the COVID-19 pandemic & Omicron mutant strain threat

China's second-largest property developer by sales, Evergrande, slides into more financial trouble as it racks over $300 Billion worth of debt. Fitch, a major credit rating agency declares the firm a defaulter.

China's Evergrande crisis: Shares shed 89% last year

In 2022, Ikea customers will have to pay more when they shop at its stores as the company said that it will increase its prices by an average of nine per cent next due to the ongoing supply and transportation disruptions.&nbsp;

The announcement on Thursday was made amid shortages and shipping challenges due to the COVID-19 pandemic which has caused inflation globally.&nbsp; 
&nbsp; 
Tolga Öncü, retail operations manager at IKEA Retail, said in a statement, "Unfortunately, now, for the first time since higher costs have begun to affect the global economy, we have to pass parts of those increased costs onto our customers."&nbsp;

"Our intention is to give back to the customer any decrease in purchase prices we get," Öncü said, adding that this move will ensure IKEA's "competitiveness and the resilience". He further added that "affordability will always be a cornerstone" for the company.&nbsp;

"The average of the increase in Ingka Group is around 9% globally, with variations across Ingka Group countries and the range, reflecting localised inflationary pressures, including commodity and supply chain issues," Ingka group said.&nbsp;

Last month, Inter Ikea group reported a 17 per cent drop in annual profits, attributing the dent to a steep increase in transport and raw material prices.

In 2022, Ikea customers will have to pay more when they shop at its stores as the company said that it will increase its prices by an average of nine per cent next due to the ongoing supply and transportation disruptions.

In 2022, Ikea customers will have to pay more when they shop at its stores as the company said that it will increase its prices by an average of nine per cent next due to the ongoing supply and transportation disruptions. The announcement on Thursday was made amid shortages and shipping challenges due to the COVID-19 pandemic which has caused inflation globally. Tolga Öncü, retail operations manager at IKEA Retail, said in a statement, "Unfortunately, now, for the first time since higher costs have begun to affect the global economy, we have to pass parts of those increased costs onto our customers." "Our intention is to give back to the customer any decrease in purchase prices we get," Öncü said, adding that this move will ensure IKEA's "competitiveness and the resilience". He further added that "affordability will always be a cornerstone" for the company. "The average of the increase in Ingka Group is around 9% globally, with variations across Ingka Group countries and the range, reflecting localised inflationary pressures, including commodity and supply chain issues," Ingka group said. Last month, Inter Ikea group reported a 17 per cent drop in annual profits, attributing the dent to a steep increase in transport and raw material prices.

In 2022, Ikea to hike prices by 9 per cent due to supply chain woes

Binance Coin, or BNB, surpassed its two larger rivals, Bitcoin and Ether, among the three largest digital assets by market capitalization.

With a gain of 1,344 per cent, Binance Coin (BNB) has outperformed the three largest cryptos by market capitalization, while the Binance Smart Chain ecosystem has witnessed enormous growth in 2021, stealing some of Ethereum's market share.

In comparison, market leader Bitcoin grew by 65%, while Ether, the second-largest token, grew by 408%.&nbsp;

The old guard of cryptocurrencies has lost ground to tokens with higher returns this year.

The tendency is expected to continue, according to researchers. 
 
World Business Watch: Britain bans Binance's UK operations in latest cryptocurrency crackdown

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/world-business-watch-britain-bans-binances-uk-operations-in-latest-cryptocurrency-crackdown-394404/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

What is Altcoin, how is it different from Bitcoin?

Alternative digital assets, such as a coin or token that is not Bitcoin, are referred to as altcoins.

This terminology stems from the notion that Bitcoin is the first cryptocurrency, and all others are "alternative" or "alternative" coins.

The word "altcoin" is also loosely applied to digital assets that are officially "tokens" rather than coins.

The ERC-20 tokens, which run on the Ethereum blockchain, are the most well-known instances.&nbsp;

More than 2,000 alternative cryptocurrencies have been implemented since the launch of Bitcoin in 2008.

Through a process known as Hard Fork, many of these altcoins were formed as modified copies of Bitcoin.

Despite some similarities, each altcoin serves a distinct purpose.&nbsp;

(With inputs from agencies)

Binance Coin, or BNB, surpassed its two larger rivals, Bitcoin and Ether, among the three largest digital assets by market capitalization. With a gain of 1,344 per cent, Binance Coin (BNB) has outperformed the three largest cryptos by market capitalization, while the Binance Smart Chain ecosystem has witnessed enormous growth in 2021, stealing some of Ethereum's market share.

Binance Coin, or BNB, surpassed its two larger rivals, Bitcoin and Ether, among the three largest digital assets by market capitalization. With a gain of 1,344 per cent, Binance Coin (BNB) has outperformed the three largest cryptos by market capitalization, while the Binance Smart Chain ecosystem has witnessed enormous growth in 2021, stealing some of Ethereum's market share. In comparison, market leader Bitcoin grew by 65%, while Ether, the second-largest token, grew by 408%. The old guard of cryptocurrencies has lost ground to tokens with higher returns this year. The tendency is expected to continue, according to researchers. World Business Watch: Britain bans Binance's UK operations in latest cryptocurrency crackdown What is Altcoin, how is it different from Bitcoin? Alternative digital assets, such as a coin or token that is not Bitcoin, are referred to as altcoins. This terminology stems from the notion that Bitcoin is the first cryptocurrency, and all others are "alternative" or "alternative" coins. The word "altcoin" is also loosely applied to digital assets that are officially "tokens" rather than coins. The ERC-20 tokens, which run on the Ethereum blockchain, are the most well-known instances. More than 2,000 alternative cryptocurrencies have been implemented since the launch of Bitcoin in 2008. Through a process known as Hard Fork, many of these altcoins were formed as modified copies of Bitcoin. Despite some similarities, each altcoin serves a distinct purpose. (With inputs from agencies)

This 'Altcoin' gained 1,300 % in 2021. So what is this cryptocurrency segment?

Tang Xiao’ou, an professor and an MIT grad suddenly found himself among the richest in the world as he personal wealth increased manifolds after a successful IPO of company he co-founded.

SenseTime Group shares surged as much as 23% from their IPO price on Thursday, adding billions of dollars to the artificial intelligence start-up`s market value as it debuted in Hong Kong in the city`s final major float for the year.&nbsp;

Even when SenseTime's share had grown by 11 per cent at the end of morning session, net worth of Xiao'ou had touched USD 3.9 billion.

Some analysts had expected the shares to struggle due to weak demand during the IPO process and worries about SenseTime`s inclusion on a U.S. investment blacklist that prompted the Chinese firm to shelve its first attempt to list.

"The main reason that support is coming to the share price is that the market had already digested the U.S. sanction issue," said Kenny Ng, Everbright Sun Hung Kai analyst.

"SenseTime set the IPO price at the lower end of the range which left room for the price performance after listing."

The Chinese company raised $740 million in its initial public offering and priced its shares at HK$3.85 ($0.4937) each.

The deal valued SenseTime at $16.4 billion, while at the session`s high its market capitalisation had added some $3.8 billion.

SenseTime ended at HK$4.13 in its debut session, up 7.3% from its IPO price. It was the fifth most actively traded stock by turnover with 329.97 million shares changing hands worth HK$1.406 bln.

The broader Hang Seng Index gained just 0.11% while tech stocks in Hong Kong were marginally positive on the day.

SenseTime`s IPO was Hong Kong`s fifth largest in 2021, Dealogic data shows.

Hong Kong has struggled to attract big ticket deals this year due to a regulatory crackdown on a number of sectors by Chinese authorities.

(With inputs from agencies) 
&nbsp;

Tang Xiao’ou, an professor and an MIT grad suddenly found himself among the richest in the world as he personal wealth increased manifolds after a successful IPO of company he co-founded.

Tang Xiao’ou, an professor and an MIT grad suddenly found himself among the richest in the world as he personal wealth increased manifolds after a successful IPO of company he co-founded. SenseTime Group shares surged as much as 23% from their IPO price on Thursday, adding billions of dollars to the artificial intelligence start-up`s market value as it debuted in Hong Kong in the city`s final major float for the year. Even when SenseTime's share had grown by 11 per cent at the end of morning session, net worth of Xiao'ou had touched USD 3.9 billion. Some analysts had expected the shares to struggle due to weak demand during the IPO process and worries about SenseTime`s inclusion on a U.S. investment blacklist that prompted the Chinese firm to shelve its first attempt to list. "The main reason that support is coming to the share price is that the market had already digested the U.S. sanction issue," said Kenny Ng, Everbright Sun Hung Kai analyst. "SenseTime set the IPO price at the lower end of the range which left room for the price performance after listing." The Chinese company raised $740 million in its initial public offering and priced its shares at HK$3.85 ($0.4937) each. The deal valued SenseTime at $16.4 billion, while at the session`s high its market capitalisation had added some $3.8 billion. SenseTime ended at HK$4.13 in its debut session, up 7.3% from its IPO price. It was the fifth most actively traded stock by turnover with 329.97 million shares changing hands worth HK$1.406 bln. The broader Hang Seng Index gained just 0.11% while tech stocks in Hong Kong were marginally positive on the day. SenseTime`s IPO was Hong Kong`s fifth largest in 2021, Dealogic data shows. Hong Kong has struggled to attract big ticket deals this year due to a regulatory crackdown on a number of sectors by Chinese authorities. (With inputs from agencies)

A professor and MIT grad suddenly becomes one among world's richest

In India, the account holders in the Employees Provident Fund (EPF) must add a nominee by December 31. Employees will forfeit various benefits if this is not done.

Only nominated members have access to EPF savings in the event of a subscriber's untimely death. Subscribers can nominate several nominees and set the percentage of each nominee's share of the prize pool.

Subscribers must have an active Universal Account Number (UAN) and Aadhaar details seeded to their EPF account in order to use EPFO's online nomination service. 
 
<a href="https://www.wionews.com/business-economy/gst-rule-change-indians-will-have-to-pay-more-for-these-items-in-2022-440470">Also read | GST rule change: Indians will have to pay more for these items in 2022</a>

Almost every salaried person in India has an Employees Provident Fund Organization account, which provides a source of income after they retire.&nbsp;

Every month, a portion of the employee's income is deducted and credited to him or her after retirement. Every month, the employee's employer provides the same amount of money.&nbsp; 
 
<a href="https://www.wionews.com/business-economy/india-online-payment-rules-to-change-on-january-1-what-you-need-to-know-439307">Also read | India online payment rules to change on January 1: What you need to know</a>

However, if an employee fails to update his or her nominee information by December 31, he or she will lose all benefits, including pension and insurance money, beginning in January 2022.

"It is critical for subscribers to register nominations to care for their spouse, children, and parents and to safeguard them through online PF, pension, and insurance," said EPFO in a statement.&nbsp;

The purpose of filing a nomination is to ensure benefits for the PF account holder's dependents in the event of his or her death.

If an account holder suffers a loss, the nominee will be eligible for benefits from the insurance and pension plans.

(With inputs from agencies)

In India, the account holders in the Employees Provident Fund (EPF) must add a nominee by December 31. Employees will forfeit various benefits if this is not done.

In India, the account holders in the Employees Provident Fund (EPF) must add a nominee by December 31. Employees will forfeit various benefits if this is not done. Only nominated members have access to EPF savings in the event of a subscriber's untimely death. Subscribers can nominate several nominees and set the percentage of each nominee's share of the prize pool. Subscribers must have an active Universal Account Number (UAN) and Aadhaar details seeded to their EPF account in order to use EPFO's online nomination service. Also read | GST rule change: Indians will have to pay more for these items in 2022 Almost every salaried person in India has an Employees Provident Fund Organization account, which provides a source of income after they retire. Every month, a portion of the employee's income is deducted and credited to him or her after retirement. Every month, the employee's employer provides the same amount of money. Also read | India online payment rules to change on January 1: What you need to know However, if an employee fails to update his or her nominee information by December 31, he or she will lose all benefits, including pension and insurance money, beginning in January 2022. "It is critical for subscribers to register nominations to care for their spouse, children, and parents and to safeguard them through online PF, pension, and insurance," said EPFO in a statement. The purpose of filing a nomination is to ensure benefits for the PF account holder's dependents in the event of his or her death. If an account holder suffers a loss, the nominee will be eligible for benefits from the insurance and pension plans. (With inputs from agencies)

New Provident Fund rule: EPF benefits to stop if you do not complete this by December 31

The United States auto safety agency has stepped up its probe into engine fires that have plagued some Hyundai Motors and Kia Motors vehicles for more than six years.

US regulators to step up investigation into Kia, Hyundai engine fire probe

A Foxconn iPhone factory in India at the centre of a mass food-poisoning incident will extend a week-long closure by an extra three day. The production is expected to restart on Thursday.

Foxconn India iPhone plant extends closure

As the Omicron COVID-19 variant rages across the United States Apple has closed its stores to indoor customer traffic at its New York City retail locations.

Apple closes New York City stores amid surge in Omicron COVID-19 variant

The new year, 2022, will bring a slew of changes to India's Goods and Services Tax (GST). The government had previously announced the revisions, which will take effect on January 1, next Saturday.&nbsp;

The amendments include the requirement for e-commerce operators to pay tax on services such as passenger transportation and restaurant services delivered through them.

In addition, the rectification in the inverted duty structure in the footwear and textile sectors will take effect on Saturday, with all footwear, regardless of price, subject to a 12% GST, and all textile products, excluding cotton, including premade garments, subject to a 12% GST. 
 
<a href="https://www.wionews.com/business-economy/india-online-payment-rules-to-change-on-january-1-what-you-need-to-know-439307">Also read | India online payment rules to change on January 1: What you need to know</a>

Clothing and footwear will also become more costly

From January 1, 2022, finished goods such as clothes, footwear, and textiles will be more expensive, when the Union government raises the GST on such items from 5% to 12%.&nbsp;

The GST rate on clothing costing up to Rs 1,000 per piece has been increased from 5% to 12%.&nbsp;

Textile rates, which include woven fabrics, synthetic yarn, blankets, tents, and accessories like tablecloths and serviettes, have also been raised from 5% to 12%.&nbsp;

The GST rate on footwear (costing up to Rs 1,000 per pair) has also been increased from 5% to 12%.

Auto rides booked through Ola and Uber are expected to become more expensive

In the new year, auto rickshaw rides booked through app aggregators like Ola and Uber will also become more expensive. From&nbsp;January 1, the Union government announced that ride firms would pay a 5% GST on vehicle rides booked online, abolishing an existing exemption. Tax-free auto rides will continue to be available on the streets.

While Uber understands the need to raise funds, the firm has urged the government to reconsider the tax, which will have an impact on vehicle drivers' wages as well as the government's digitalisation strategy.

Food delivery apps like Swiggy and Zomato charge GST

Beginning January 1st, food delivery apps, rather than restaurants, will be required to collect and pay 5% GST to the government.

There will be no additional tax burden on the end customer as a result of this procedural adjustment.

Previously, eateries were responsible for paying the GST. According to the government, instead of restaurants, the tax would now be paid by aggregators like Zomato and Swiggy, preventing income leakage.

(With inputs from agencies)

The new year, 2022, will bring a slew of changes to India's Goods and Services Tax (GST). The government had previously announced the revisions, which will take effect on January 1, next Saturday.

The new year, 2022, will bring a slew of changes to India's Goods and Services Tax (GST). The government had previously announced the revisions, which will take effect on January 1, next Saturday. The amendments include the requirement for e-commerce operators to pay tax on services such as passenger transportation and restaurant services delivered through them. In addition, the rectification in the inverted duty structure in the footwear and textile sectors will take effect on Saturday, with all footwear, regardless of price, subject to a 12% GST, and all textile products, excluding cotton, including premade garments, subject to a 12% GST. Also read | India online payment rules to change on January 1: What you need to know Clothing and footwear will also become more costly From January 1, 2022, finished goods such as clothes, footwear, and textiles will be more expensive, when the Union government raises the GST on such items from 5% to 12%. The GST rate on clothing costing up to Rs 1,000 per piece has been increased from 5% to 12%. Textile rates, which include woven fabrics, synthetic yarn, blankets, tents, and accessories like tablecloths and serviettes, have also been raised from 5% to 12%. The GST rate on footwear (costing up to Rs 1,000 per pair) has also been increased from 5% to 12%. Auto rides booked through Ola and Uber are expected to become more expensive In the new year, auto rickshaw rides booked through app aggregators like Ola and Uber will also become more expensive. From January 1, the Union government announced that ride firms would pay a 5% GST on vehicle rides booked online, abolishing an existing exemption. Tax-free auto rides will continue to be available on the streets. While Uber understands the need to raise funds, the firm has urged the government to reconsider the tax, which will have an impact on vehicle drivers' wages as well as the government's digitalisation strategy. Food delivery apps like Swiggy and Zomato charge GST Beginning January 1st, food delivery apps, rather than restaurants, will be required to collect and pay 5% GST to the government. There will be no additional tax burden on the end customer as a result of this procedural adjustment. Previously, eateries were responsible for paying the GST. According to the government, instead of restaurants, the tax would now be paid by aggregators like Zomato and Swiggy, preventing income leakage. (With inputs from agencies)

GST rule change: Indians will have to pay more for these items in 2022

The Indian government said on Monday that 5G services will be available in 13 locations throughout the country next year.

Gurugram, Bengaluru, Kolkata, Mumbai, Chandigarh, Delhi, Jamnagar, Ahmadabad, Chennai, Hyderabad, Lucknow, Pune, and Gandhi Nagar are among these cities.

Bharti Airtel, Reliance Jio, and Vodafone Idea are conducting 5G trials in the 700 MHz, 3.5 GHz, and 26 GHz bands. In the sectors of education, enterprise, mobility, and security, the organisations have also presented India-specific use cases.

The Telecom Regulatory Authority of India (Trai) has also produced a consultation paper to solicit input from the sector on a variety of spectrum auction concerns, including pricing, value, and rollout obligations.&nbsp; 
 
<a href="https://www.wionews.com/technology/5g-wireless-services-could-wreak-havoc-with-flights-warn-us-airlines-437248">Also read | 5G wireless services could wreak havoc with flights, warn US airlines</a>

Last month, Ashwini Vaishnav, the minister of communications, announced that the 5G spectrum auction would take place in April-May 2022.&nbsp;

However, because Trai is anticipated to present its recommendations only in March, the auction is likely to be postponed until July.

The actual deployment would be dependent on industry readiness, but the government has expressed interest in launching on Independence Day.

Telecom service providers have asked the government to maintain 5G spectrum pricing low so that the industry can participate fully.&nbsp; 
 
Watch | Tech It Out: Is 5G safe to use?

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/tech-it-out-is-5g-safe-to-use-390118/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

Companies have advised the government that access to appropriate low-cost spectrum and flexible payment terms are critical for them to plan their investments.

As an alternative to the widely used 3GPP standard, the government is promoting the creation of an indigenously produced 5G standard known as the 5Gi.&nbsp;

The Indian Institute of Technology produced the indigenous 5G testbed, which was supported by the government. The project is expected to be completed by the end of December.

(With inputs from agencies)

The Indian government said on Monday that 5G services will be available in 13 locations throughout the country next year. Gurugram, Bengaluru, Kolkata, Mumbai, Chandigarh, Delhi, Jamnagar, Ahmadabad, Chennai, Hyderabad, Lucknow, Pune, and Gandhi Nagar are among these cities.

The Indian government said on Monday that 5G services will be available in 13 locations throughout the country next year. Gurugram, Bengaluru, Kolkata, Mumbai, Chandigarh, Delhi, Jamnagar, Ahmadabad, Chennai, Hyderabad, Lucknow, Pune, and Gandhi Nagar are among these cities. Bharti Airtel, Reliance Jio, and Vodafone Idea are conducting 5G trials in the 700 MHz, 3.5 GHz, and 26 GHz bands. In the sectors of education, enterprise, mobility, and security, the organisations have also presented India-specific use cases. The Telecom Regulatory Authority of India (Trai) has also produced a consultation paper to solicit input from the sector on a variety of spectrum auction concerns, including pricing, value, and rollout obligations. Also read | 5G wireless services could wreak havoc with flights, warn US airlines Last month, Ashwini Vaishnav, the minister of communications, announced that the 5G spectrum auction would take place in April-May 2022. However, because Trai is anticipated to present its recommendations only in March, the auction is likely to be postponed until July. The actual deployment would be dependent on industry readiness, but the government has expressed interest in launching on Independence Day. Telecom service providers have asked the government to maintain 5G spectrum pricing low so that the industry can participate fully. Watch | Tech It Out: Is 5G safe to use? Companies have advised the government that access to appropriate low-cost spectrum and flexible payment terms are critical for them to plan their investments. As an alternative to the widely used 3GPP standard, the government is promoting the creation of an indigenously produced 5G standard known as the 5Gi. The Indian Institute of Technology produced the indigenous 5G testbed, which was supported by the government. The project is expected to be completed by the end of December. (With inputs from agencies)

5G services to be rolled out in these 13 Indian cities first. Check the list

In latest tightening of rules, Chinese regulator National Development and Reform Commission (NDRC) said that domestic companies from sector off-limits to foreign direct investment (FDI) would have to seek permission before listing shares outside mainland. The new rules would apply to internet news companies and others in sectors in which FDI is restricted or prohibitted.

The NDRC announced the new rules on Monday in a statement. The statement also included an updated annual "Foreign Investment Negative List" that outlines business sectors where foreign direct investment is banned or restricted.

The new rules now apply that list to companies issuing shares overseas for the first time, and come as China is tightening scrutiny over offshore share sales.

Chinese companies in sectors prohibited for foreign investment "should get clearance from relevant Chinese regulatory bodies, if they seek share sales and list in overseas markets," the NDRC said, plugging a regulatory loophole.

In addition, "foreign investors must not participate in the operation and management of the companies" and their holdings are to be capped at 30%, in line with the rules regulating locally-listed companies.

The latest Negative List includes prohibited sectors such as compulsory education institutions, news organizations and rare earth minerals.

Additionally, overseas investment in industries ranging from publishing, nuclear power stations and telecom is restricted.

Many Chinese companies use a so-called variable interest entity (VIE) structure to float overseas, skirting the foreign investment restrictions in areas such as media and education. read more

The NDRC statement comes just days after China's securities regulator published draft rules requiring filings by companies seeking offshore listings to ensure they comply with Chinese laws and regulations. read more

Under the new filing system, VIE-structured companies will still be allowed to list as long as they are compliant.

"The NDRC statement goes hand in hand with the filing system," and will likely restrict the use of VIEs, said Zhan Kai, a lawyer at East &amp; Concord Partners. Kai was quoted by Reuters

However, China's Ministry of Commerce framed the new rules as a gesture of policy relaxation.

"China is exploring ways to allow companies in sectors off-limits to foreign investment to list overseas under certain conditions, expanding investment channels for foreign investors," the ministry said in a separate statement.

(With inputs from agencies)

In latest tightening of rules, Chinese regulator National Development and Reform Commission (NDRC) said that domestic companies from sector off-limits to foreign direct investment (FDI) would have to seek permission before listing shares outside mainland.

In latest tightening of rules, Chinese regulator National Development and Reform Commission (NDRC) said that domestic companies from sector off-limits to foreign direct investment (FDI) would have to seek permission before listing shares outside mainland. The new rules would apply to internet news companies and others in sectors in which FDI is restricted or prohibitted. The NDRC announced the new rules on Monday in a statement. The statement also included an updated annual "Foreign Investment Negative List" that outlines business sectors where foreign direct investment is banned or restricted. The new rules now apply that list to companies issuing shares overseas for the first time, and come as China is tightening scrutiny over offshore share sales. Chinese companies in sectors prohibited for foreign investment "should get clearance from relevant Chinese regulatory bodies, if they seek share sales and list in overseas markets," the NDRC said, plugging a regulatory loophole. In addition, "foreign investors must not participate in the operation and management of the companies" and their holdings are to be capped at 30%, in line with the rules regulating locally-listed companies. The latest Negative List includes prohibited sectors such as compulsory education institutions, news organizations and rare earth minerals. Additionally, overseas investment in industries ranging from publishing, nuclear power stations and telecom is restricted. Many Chinese companies use a so-called variable interest entity (VIE) structure to float overseas, skirting the foreign investment restrictions in areas such as media and education. read more The NDRC statement comes just days after China's securities regulator published draft rules requiring filings by companies seeking offshore listings to ensure they comply with Chinese laws and regulations. read more Under the new filing system, VIE-structured companies will still be allowed to list as long as they are compliant. "The NDRC statement goes hand in hand with the filing system," and will likely restrict the use of VIEs, said Zhan Kai, a lawyer at East & Concord Partners. Kai was quoted by Reuters However, China's Ministry of Commerce framed the new rules as a gesture of policy relaxation. "China is exploring ways to allow companies in sectors off-limits to foreign investment to list overseas under certain conditions, expanding investment channels for foreign investors," the ministry said in a separate statement. (With inputs from agencies)

China: Companies in certain sectors to need permission before offshore listing

In what comes as a big win for Dish TV in the Yes Bank matter, Proxy advisory firm InGovern has advised investors to support Dish TV AGM proposals.

"We note that these proposals are coming up for shareholder vote in the background of an ongoing dispute between the company and two sets of shareholders – the promoters and Yes Bank, as the largest shareholder. The legal battle is being fought in various forums: at the NCLT, the High Courts and the Supreme Court," In the note titled 'VOTE RECOMMENDATIONS FOR 2021 ANNUAL GENERAL MEETING InGovern said.

The note adds, "On December 23, 2021, the company put out a statement that the Bombay High Court rejected the ad-interim prayers of the Plaintiff. However, the Court directed that the result of the proposed Annual General Meeting of the Company to be held on December 30, 2021, shall be subject to the outcome of the final hearing of the Interim Application filed by the Plaintiff in the Suit. The matter has been adjourned to February 3, 2022."

"Our view is that unless the court battles play out, the management and operations of the company should be viewed by shareholders as ongoing," the InGovern note added.

Proposals – Management &amp; InGovern Recommendations

1 -Adoption of Standalone Accounts and Consolidated Accounts: FOR

"We note that shareholders have approved the qualifications made in FY2019-20, and that there are NO significant changes in ownership in the past year. We note in many instances that content valuations can be very subjective. Considering no new adverse audit qualifications, we recommend shareholders vote FOR the proposal," InGovern said.

2-Re-appointment of Mr. Ashok Mathai Kurien liable to retire by rotation: FOR

"We recommend shareholders vote FOR this proposal," InGovern said.

3 -Ratification of Remuneration of Cost Auditors for FY2021-22: FOR

"There are no concerns regarding this proposal. We recommend shareholders vote FOR the resolution," InGovern said.

Recently, promoter Group Company of Dish TV had filed an application before the Bombay High Court in the share transfer matter. The company urged the HC to not allow the transfer of shares till the completion of the hearing.

As per Dish TV, an attempt is being made by Yes Bank to take control of Dish TV's board of directors by proposing a shareholder EGM to make changes to the board. However, till recently, it has not made any open offer in this area.

The Ministry of Finance, Yes Bank, and the Securities and Exchange Board of India (SEBI) have been included as parties to the dispute in an application filed with the Bombay High Court. Exchanges, Catalyst Trusteeship, and Dish TV have also been added to the list of parties.

Catalyst Trusteeship and Yes Bank have been the subject of an investigation. Aside from that, IDBI Trusteeship has been the subject of an investigation.

The promoter firm claims in its application that Yes Bank is attempting to seize control of Dish TV and that this must be halted.

In what comes as a big win for Dish TV in the Yes Bank matter, Proxy advisory firm InGovern has advised investors to support Dish TV AGM proposals. "We note that these proposals are coming up for shareholder vote in the background of an ongoing dispute between the company and two sets of shareholders – the promoters and Yes Bank, as the largest shareholder.

In what comes as a big win for Dish TV in the Yes Bank matter, Proxy advisory firm InGovern has advised investors to support Dish TV AGM proposals. "We note that these proposals are coming up for shareholder vote in the background of an ongoing dispute between the company and two sets of shareholders – the promoters and Yes Bank, as the largest shareholder. The legal battle is being fought in various forums: at the NCLT, the High Courts and the Supreme Court," In the note titled 'VOTE RECOMMENDATIONS FOR 2021 ANNUAL GENERAL MEETING InGovern said. The note adds, "On December 23, 2021, the company put out a statement that the Bombay High Court rejected the ad-interim prayers of the Plaintiff. However, the Court directed that the result of the proposed Annual General Meeting of the Company to be held on December 30, 2021, shall be subject to the outcome of the final hearing of the Interim Application filed by the Plaintiff in the Suit. The matter has been adjourned to February 3, 2022." "Our view is that unless the court battles play out, the management and operations of the company should be viewed by shareholders as ongoing," the InGovern note added. Proposals – Management & InGovern Recommendations 1 -Adoption of Standalone Accounts and Consolidated Accounts: FOR "We note that shareholders have approved the qualifications made in FY2019-20, and that there are NO significant changes in ownership in the past year. We note in many instances that content valuations can be very subjective. Considering no new adverse audit qualifications, we recommend shareholders vote FOR the proposal," InGovern said. 2-Re-appointment of Mr. Ashok Mathai Kurien liable to retire by rotation: FOR "We recommend shareholders vote FOR this proposal," InGovern said. 3 -Ratification of Remuneration of Cost Auditors for FY2021-22: FOR "There are no concerns regarding this proposal. We recommend shareholders vote FOR the resolution," InGovern said. Recently, promoter Group Company of Dish TV had filed an application before the Bombay High Court in the share transfer matter. The company urged the HC to not allow the transfer of shares till the completion of the hearing. As per Dish TV, an attempt is being made by Yes Bank to take control of Dish TV's board of directors by proposing a shareholder EGM to make changes to the board. However, till recently, it has not made any open offer in this area. The Ministry of Finance, Yes Bank, and the Securities and Exchange Board of India (SEBI) have been included as parties to the dispute in an application filed with the Bombay High Court. Exchanges, Catalyst Trusteeship, and Dish TV have also been added to the list of parties. Catalyst Trusteeship and Yes Bank have been the subject of an investigation. Aside from that, IDBI Trusteeship has been the subject of an investigation. The promoter firm claims in its application that Yes Bank is attempting to seize control of Dish TV and that this must be halted.

Boost to Dish TV! Proxy advisory firm InGovern advises investors to support Dish TV AGM proposals

China Evergrande Group has said that it had made initial progress in resuming construction work with its chairman vowing to deliver 39,000 units of properties in December, compared with fewer than 10,000 in each of the previous three months.

China's Evergrande reports progress in work on construction projects

The United Arab Emirates (UAE) government has told some of its biggest business families that it plans to remove their monopolies on the sale of imported goods.

UAE government plans to scrap some family business monopolies