Tech giant Apple has released iOS 15.6 and iPadOS 15.6 that bring new live sports features, storage bug fixes and more.
The iOS 15.6 and iPadOS 15.6 can be downloaded for free and the software is available on all eligible devices over-the-air in the Settings app. To access the new software, go to Settings, General, then Software Update, reports MacRumors.
As Apple is wrapping up development on the iOS 15 and iPadOS 15 operating systems, iOS 15.6 is minor in scale and introduces a handful of new features and bug fixes.
The update includes an option to restart, pause, rewind, and fast-forward a live sports game that's in progress, plus it addresses an issue that could cause the Settings app to continue to display that device storage is full even when it's not.
The new iOS 15.6 update includes enhancements, bug fixes and security updates. It allows the TV app the option to restart a live sports game already in-progress and pause, rewind, or fast-forward.
It also fixes an issue where Settings may continue to display that device storage is full even if it is available.
The report mentioned that some features may not be available for all regions or on all Apple devices.
Meta-owned photo-sharing platform Instagram has announced that it will allow shoppers in the US to be able to pay for products directly in messages.
The company said it wants to help people start conversations with businesses they care about and help them find and buy products they love in an easy, seamless experience, right from the chat thread.
"We are introducing a new way to make a purchase on Instagram -- right where you chat," the company said in a blogpost.
"Finally, you will be able to use Meta Pay to complete purchases, making checkout even easier in just a few taps," it added.
Using this new feature, small business owners will be able to chat with customers in real-time to answer questions and confirm purchase details.
They can create a payment request with item description and price and request and collect payment.
And when businesses are ready to set up their digital storefront, they can use Shops on Instagram and Facebook, the company said.
A total of 7,813 complaints have been received against banks and NBFCs pertaining to digital lending apps and recovery agents under the Integrated Ombudsman Scheme of RBI during the period April 1, 2021 to March 3, this year.
Most of the complaints pertain to lending apps promoted by entities not regulated by the RBI such as companies other than NBFCs, unincorporated bodies and individuals.
Major concerns raised in such complaints were issues of exorbitant interest and charges levied by digital lending apps, and harassment of customers for loan repayments.
In a reply to a question in Lok Sabha on Monday, the Finance ministry said that RBI had cautioned the general public not to fall prey to unscrupulous activities of unauthorised digital lending platforms/ Mobile Apps and verify the antecedents of the company offering such loans.
The RBI has also issued advisories to state governments to keep a check on unauthorised digital lending platforms/ mobile apps through their respective law enforcement agencies.
The RBI has constituted a Working Group on digital lending including lending through online platforms and mobile apps, to study all aspects of digital lending activities in the regulated financial sector as well as by unregulated players.
The thrust of the report has been on enhancing customer protection and making the digital lending ecosystem safe and sound while encouraging innovation.
The Reserve Bank of India (RBI) has introduced "The Reserve Bank - Integrated Ombudsman Scheme, 2021" wherein complaints against Banks and Non-Banking Financial Companies (NBFCs) regarding digital lending can be lodged. Under the said scheme, the Ombudsman shall have power to pass an award for any consequential loss suffered by complainant up to Rs 20 lakh, in addition to, up to Rs 1 lakh for the loss of the complainant's time, expenses incurred and for harassment/mental anguish suffered by the complainant.
The Indian rupee will trade between Rs 79.50-Rs 80.50 against the US dollar next week, a senior official of LKP Securities said on Friday.
On Friday during the early trade, the Indian rupee gained seven paise to touch Rs 79.92 for a dollar.
According to Jateen Trivedi, Vice President, and Research Analyst at LKP Securities, the rupee range can be seen between 79.50-80.50 for the coming week.
"Rupee traded in a range between 79.80 and 79.98. As the dollar index is traded in a range, broadly the trend for dollar is positive till the time it is above $105... next hurdle for a dollar can be seen around $110, hence rupee can be seen as weak... the trend continues towards 80.50," Trivedi said.
He said the Rs 79.25 mark will act as resistance for the rupee and a break above Rs 79.25 will trigger short covering for the rupee.
Cryptocurrency lending company Celsius Network, that recently laid off 150 employees, has now filed for bankruptcy in the US amid extreme market conditions.
The platform said that it initiated voluntary Chapter 11 bankruptcy proceedings to provide it with the opportunity to stabilise its business and consummate a comprehensive restructuring transaction that maximises value for all stakeholders.
Celsius said late on Wednesday that it has $167 million in cash on hand, which will provide ample liquidity to support certain operations during the restructuring process.
The platform, which last month paused all withdrawals, was last valued at $3.25 billion.
"Without a pause, the acceleration of withdrawals would have allowed certain customers -- those who were first to act -- to be paid in full while leaving others behind to wait for Celsius to harvest value from illiquid or longer-term asset deployment activities before they receive a recovery," said the company.
Alex Mashinsky, Co-Founder and CEO, Celsius, said that this is the right decision for its community and company.
"I am confident that when we look back at the history of Celsius, we will see this as a defining moment, where acting with resolve and confidence served the community and strengthened the future of the company," he said.
Meanwhile, the founders of another bankrupt cryptocurrency hedge fund Three Arrows Capital (3AC) have vanished and the officials charged with liquidating the company were looking for their whereabouts.
The mega fund, founded by Credit Suisse traders Zhu Su and Kyle Davies, once managed an estimated $10 billion in assets.
The Singapore-based 3AC filed for bankruptcy in the US earlier this month to protect its assets from creditors.
The bankruptcy came as popular crypto tokens such as Bitcoin and Ethereum nosedived by nearly 70 per cent from their record highs amid the economic meltdown.
3AC defaulted on a more than $650 million loan provided by crypto broker Voyager Digital, which has also filed for bankruptcy.
Chennai, July 12 (IANS) India's external debt of $620.7 billion need not be a concern as $490 billion is non-government and the share of government is only $130.8 billion, said experts.
According to the Reserve Bank of India (RBI), India's provisional external debt was put at $620.7 billion at the end of March 2022.
The non-government debt was $490 billion of which the share of non-financial corporations was about $250.2 billion.
Further, the total debt of $620.7 billion as a percentage of gross domestic product (GDP) was 19.9 per cent and the debt service ratio was 5.2 per cent.
Experts also said India cannot be compared with Sri Lanka which is in a severe economic crisis.
The share of the central government in short term debt - maturing in a year's time - is only $7.7 billion out of the total $267 billion.
Uttar Pradesh Chief Minister Yogi Adityanath, on Sunday, inaugurated the Lulu Mall -- the Abu Dhabi-based Lulu Group's fifth mall in the country -- in Lucknow.
Spread across 2.2 million square feet, the mall will be opened to the public from July 11, a release said.
Located at Amar Shaheed Path, Golf City, the mall will be home to some of the country's biggest brands including Lulu Hypermarket, Lulu Fashion Store and Lulu Connect, among others.
During its ground-breaking ceremony that was organised in Lucknow recently, the Lulu Group showcased its upcoming shopping mall projects, in Prayagraj and Varanasi, in the presence of Prime Minister Narendra Modi, chief minister Yogi Adityanath and defence minister Rajnath Singh.
Apart from retail projects, the Group also announced a Rs 500-crore food processing hub, which is being constructed in Greater Noida, the release added.
The Lucknow mall houses 15 restaurants and cafes, apart from a food court with 25 brand outlets that has a capacity to seat 1,600 people.
It will have a dedicated wedding shopping arena with jewellery, fashion and premium watch brands.
"An 11-screen PVR superplex will be launched later this year. The mall will be equipped with a dedicated multi-level parking facility to accommodate over 3,000 vehicles," said an official.
Jayakumar Gangadharan, regional director of Lulu Group in Uttar Pradesh, said, "The mall will also house our own internationally popular indoor entertainment centre, Funtura and Lulu Hypermarket. The presence of some of India's biggest retail brands combined with a state-of-the-art food court and engaging entertainment outlets will make the mall a family destination."
The opening of the mall in Lucknow comes at a time when the Lulu Group has been expanding rapidly in India. The group has established malls in Kochi, Thrissur, Bengaluru and Thiruvananthapuram.
Lulu Group Chairman and Managing Director MA Yusuff Ali has already announced an extensive expansion plan for several major cities in India, including Ahmedabad, Chennai, Hyderabad and New Delhi in a bid to boost its footprint.
Headquartered in Abu Dhabi, UAE, Lulu Group International is a highly diversified entity with operations spanning a vast geographical landscape, with more than 233 hypermarkets and 24 shopping malls across GCC countries, Egypt, Malaysia and Indonesia, the press release said.
Google reportedly offered the US government to split its ad-tech business, which allows companies to place ads on Internet and apps, into a separate entity under the Alphabet umbrella, to avoid an antitrust lawsuit.
According to the Wall Street Journal, the deal was part of multiple concessions the tech giant offered the US Department of Justice to avoid lawsuits alleging anti-competitive practices.
The US Justice Department is conducting a probe into allegations that "Google abuses its role as both a broker and auctioneer of digital advertisements to steer itself business at the expense of rivals", and preparing a lawsuit that could be announced soon.
In a 64 page complaint with 194 numbered items, the US Justice Department and 11 states sued Google in October 2020 for antitrust violations, alleging that it weaponised its dominance in online search and advertising to kill off competition and harm consumers.
The lawsuit marks the US government's biggest move since its case against Microsoft more than 20 years ago. This comes after 15 months of investigation and could be the opening scene of more antitrust actions against other Big Tech companies.
Reacting to the WSJ report that came out on Friday, a Google spokesperson said that they have been engaging constructively with regulators to address their concerns.
"As we've said before, we have no plans to sell or exit this business. Rigorous competition in ad technology has made online ads more relevant, reduced fees, and expanded options for publishers and advertisers," the company spokesperson was quoted as saying in the report.
Not just in the US, Google is facing anti-trust probes in the UK and India too.
The UK competition watchdog in May opened a second investigation into Google's unfair practices in ad tech, following the launch of a probe into Google and Meta's 'Jedi Blue' agreement.
The Competition and Markets Authority (CMA) is investigating whether Google has broken the law by restricting competition in the digital advertising technology market.
"We're worried that Google may be using its position in ad tech to favour its own services to the detriment of its rivals, of its customers and ultimately of consumers," said Andrea Coscelli, the CMA's Chief Executive.
The CMA is assessing whether Google's 'ad tech stack' practices may distort competition.
In July 2021, the French regulator closed a similar case against Google imposed fine and secured commitments.
In March this year, the Competition Commission of India (CCI) ordered an investigation into complaints against Google for abusing its dominant position related to news referral services and Google ad-tech services in the Indian online news media market.
The CCI found that prima facie, these allegations of abuse of dominant position are under the purview of the Competition Act, 2002 and requires a detailed investigation by the Additional Director General.
The latest Centre-Twitter legal battle over repeated content blocking orders by the IT Ministry has brought an old debate to the fore -- is the country finally ready to penalise foreign intermediaries and social media platforms for not obeying the law of the land or is there still a long way to go?
Unlike the European Union's General Data Protection Regulation (EU GDPR), and tougher cyber laws in countries like Singapore, South Korea and Australia, the Indian government is using several agencies to tame social media platforms in the absence of a nodal cyber regulator that separately deals with Big Tech.
In India, Twitter is in the eye of the storm for not complying often with the new IT (intermediary) Rules, 2021.
The micro-blogging platform even witnessed a police raid on its offices in Delhi and Gurugram related to the alleged Congress toolkit controversy last year.
Twitter was at loggerheads with the Indian government last year over the removal of certain posts and being compliant with the intermediary guidelines under the IT Act.
As and when the government sends stern notices to Twitter, Google, YouTube and Meta (formerly Facebook) under the available laws (like Section 69A of the IT Act, 2000) to remove controversial content, the platforms immediately knock at the door of the courts, resulting in zero action.
The tussle between Twitter, WhatsApp/Facebook and the government has reached its nadir, and the fact is that an absence of a stricter personal data protection law is forcing the concerned authorities to take routes like writing heaps of notices that have resulted in zero action to date, while social networking giants continue to take the country for a ride.
According to experts, while the government can initiate action for suspension or blocking of intermediary apps or websites if they fail to comply with its directions over various issues under current laws, a strong data protection law is what can tame the social media platforms, the way the GDPR in the EU has achieved.
In case Twitter fails to comply with the government directions, the latter has the power to resort to penal consequences.
"In that direction, appropriate FIRs can be registered against intermediaries and service providers and their top management can also be made liable for the said contravention under Section 85 of the IT Act, 2000," Pavan Duggal, one of the country's top cyber law experts, noted.
The government can exercise its power under Section 69(A)(1). In case, any service provider or intermediary fails to comply with the provisions of the same, there are penal consequences prescribed under Section 69A(3) too.
Non-compliance with directions for blocking is a non-bailable serious offense punishable with imprisonment for a term which may extend to seven years and shall also be liable to fine.
India has to learn from the EU when it comes to formulating a legal framework to secure data and tackle hateful or abusive online content, the experts said.
The EU GDPR has been designed to harmonise data privacy laws across Europe -- to protect and empower all EU citizens' data privacy and to reshape the way organisations across the region approach data privacy.
The Indian government, time and again, has told Internet intermediaries and social media platforms to comply with the law of the land.
Minister of State for Electronics and IT Rajeev Chandrasekhar said in a tweet that all foreign intermediaries and platforms have a right to approach the court and judicial review in India.
"But equally, all intermediary/platforms operating here have an unambiguous obligation to comply with our laws and rules," Chandrasekhar posted last week, as Twitter moved the Karnataka High Court against the government's order to take down some content on its platform.
IT Minister Ashwini Vaishnaw said that "be it any company, in any sector, they should abide by the laws of India".
Twitter has clearly said that these blocking orders are being challenged on the basis that "they are procedurally and substantially deficient of the Section 69A requirements".
The micro-blogging platform last year clearly stated that it will listen to the Indian government's content removal demands seriously only when the Personal Data Protection Bill is firmly in place.
The proposed Personal Data Protection Bill also has provisions that impose heavy penalties on companies for non-compliance.
It has also proposed to term social media companies as publishers, which will make them liable for the content on their platforms.
The moot question is: Once the global tech giants respond to government notices, the matter ends and according to leading experts, data of crores of Indians are still being misused in the absence of a robust mechanism.
"As of today, India does not have a dedicated law on privacy or on cyber security," Duggal pointed out. "It does not have a legal framework in place for protecting all kinds of data. The Personal Data Protection Bill, 2019 is pending consideration before the Joint Parliamentary Committee. Further, India does not have a dedicated policy on data localisation."
According to legal experts, India must fight social media biggies with a strong data protection law in place.
The inflation in India is expected to ease in a gradual manner in the second half of FY23, said Shaktikanta Das, Governor, Reserve Bank of India (RBI) on Saturday.
Speaking at the Kautilya Economic Conclave, organised by Institute of Economic Growth, New Delhi, Das said, with the supply outlook appearing favourable and several high frequency indicators pointing to resilience of the recovery in the first quarter (April-June) of 2022-23, the inflation may ease gradually in the second half of 2022-23, precluding the chances of a hard landing in India.
Tracing the history of inflation in India, Das said in early 2022 inflation was expected to moderate significantly to the target rate of four per cent by third quarter of FY23, with a projected average inflation rate of 4.5 per cent for 2022-23.
"This assessment was based on an anticipated normalisation of supply chains, the gradual ebbing of Covid-19 infections and a normal monsoon. The median inflation projection from the Survey of Professional Forecasters at five per cent for 2022-23 was also quite benign," he said.
However, this was overtaken by the Russia-Ukraine war since February 2022, leading to a sharp spike in global crude oil and other commodity prices.
"Global food prices reached a historical high in March and their effects were felt in edible oil, feed cost and domestic wheat prices. The loss of Rabi wheat production due to an unprecedented heat wave put further pressures on wheat prices. Cost-push pressures were also aggravated by supply chain and logistics bottlenecks due to the war and sanctions," Das said.
According to him, RBI's objective was to safeguard the economy and preserve financial stability.
"Our endeavour has been to ensure a soft landing. These objectives continue to guide our actions even today and it will continue to be so in future," he added.
Das said the benefits of globalisation come with certain risks and challenges. Shocks to prices of food, energy, commodities and critical inputs are transmitted across the world through complex supply chains.
"In fact, recent developments call for greater recognition of global factors in domestic inflation dynamics and macroeconomic developments which underscore the need for enhanced policy coordination and dialogue among countries to achieve better outcomes," he said.
According to him, the insurance against such inevitable global shocks ultimately is built on sound economic fundamentals, strong institutions and smart policies. Price stability is key to maintaining macroeconomic and financial stability.
"We will continue to calibrate our policies with the overarching goal of preserving and fostering macroeconomic stability. In this endeavour, we will remain flexible in our approach while being cogent and transparent in our communication," Das said.
With Tesla registering phenomenal growth over a year, the electric vehicle (EV) shipments grew 79 per cent year-on-year (YoY) in the first quarter of 2022 to reach 1.95 million units, says a new report.
According to market research firm Counterpoint, of these, battery electric vehicles (BEVs) accounted for 73 per cent and plug-in hybrid electric vehicles (PHEVs) for the rest.
"With EVs comprising just 12 per cent of the total passenger vehicle shipments during the first quarter of 2022, there is a lot of scope for expansion. Fresh players are entering the market to benefit from the opportunity," Senior Research Analyst Soumen Mandal, said in a statement.
"To counter new entrants, existing players are using leading-edge technologies to have improved battery, superior IVI system, and higher levels of ADAS in their EV models as major selling points," Mandal added.
Tesla is currently the global EV market leader. The company's shipments grew 68 per cent YoY in the first quarter and are expected to cross 1.3 million units by the end of 2022.
BYD Auto emerged as China's top EV seller during the first quarter. Its EV shipments increased by a whopping 433 per cent YoY to reach more than 0.28 million units.
China remained the market leader in EV shipments, followed by Europe and the US. China's EV shipments increased 126 per cent YoY in the first quarter of 2022 to reach more than 1.14 million units from just 0.5 million units in the first quarter of 2021.