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India paves way for return of merchant fees on digital payments

India paves way for return of merchant fees on digital payments

NEW DELHI/MUMBAI, Aug 4 (Reuters) - India has moved a step closer to reintroducing merchant fees on transactions made through its popular Unified Payments Interface (UPI) after proposed changes to the country's payments laws were introduced in parliament on Tuesday.
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Spotify's Increased Marketing and AI Spending to Impact Profitability

Spotify's Increased Marketing and AI Spending to Impact Profitability

Spotify's Increased Marketing and AI Spending to Impact Profitability
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GiveWell's New Research Initiatives Aim to Expand Global Health Impact

GiveWell's New Research Initiatives Aim to Expand Global Health Impact

GiveWell, a prominent nonprofit organization, is expanding its research initiatives to identify cost-effective health interventions. Led by Senior Program Officer Dan Brown, the new areas research subteam is exploring diverse projects, including a grant in Laos for an electronic supply chain management system to prevent medicine shortages. Additionally, the team is supporting the development of a low-maintenance device for producing medical oxygen and conducting studies to improve newborn health care in India. These efforts are part of GiveWell's broader strategy to increase its grantmaking, which has already surpassed $400 million this year, with expectations to reach $1 billion. The organization is supported by a $1 billion commitment from Coefficient Giving, enabling it to scale its impact significantly.
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India Implements Social Media Rules to Combat Deepfakes

India Implements Social Media Rules to Combat Deepfakes

India has introduced new social media rules to address the challenges posed by deepfakes, alongside supporting domestic detection research and enforcing criminal laws. The government has mandated platforms to identify and label AI-generated content and apply additional checks to user declarations about synthetic content. The Information Technology Act and the Bharatiya Nyaya Sanhita provide legal frameworks for addressing identity theft, online impersonation, and other harms caused by deepfakes. The government has also issued a standard operating procedure for non-consensual intimate imagery and conducted extensive cybersecurity awareness workshops.
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WhatsApp Temporarily Blocks Multiple Accounts Amid Safety Measure Enforcement

WhatsApp Temporarily Blocks Multiple Accounts Amid Safety Measure Enforcement

WhatsApp Temporarily Blocks Multiple Accounts Amid Safety Measure Enforcement
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Parliamentary Panel Recommends Lowering Minimum Age for Directors to 18

Parliamentary Panel Recommends Lowering Minimum Age for Directors to 18

A parliamentary panel in India has proposed amendments to the Companies Act, suggesting that the minimum age for appointment as managing director and whole-time director be reduced from 21 to 18 years. This recommendation aligns with age requirements in countries like the US, Singapore, Germany, and Australia. The panel, chaired by Sudheer Gupta, also suggested increasing the maximum age limit from 70 to 75 years without needing a special resolution. The committee supports further decriminalization of the law and recommends creating special National Company Law Tribunal (NCLT) benches for specific cases to ensure adherence to statutory timelines and prevent value erosion in insolvency cases. Additionally, the panel proposed maintaining a Rs 10 crore net profit threshold for Corporate Social Responsibility (CSR) applicability and suggested a new chapter to facilitate the re-domiciliation of foreign companies to India.
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Indian Government Launches New Schemes to Boost Electronics Manufacturing

Indian Government Launches New Schemes to Boost Electronics Manufacturing

The Indian government has launched two new schemes aimed at enhancing the global competitiveness of the Indian electronics sector. The Mobile Phone Manufacturing Scheme (MPMS) and the Indian Semiconductor Mission 2 (ISM2) are designed to sustain momentum in handset design and manufacturing, as well as deepen value addition in the semiconductor industry. The MPMS, with a budgetary outlay of Rs 625 billion, provides incentives for mobile phone manufacturing and aims to scale up production to Rs 39 trillion. ISM2 focuses on strengthening the electronic supply chain, developing talent, and generating intellectual property across the sector.
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Glasgow's Role in Reviving Commonwealth Games as Baton Passes to Amdavad

Glasgow's Role in Reviving Commonwealth Games as Baton Passes to Amdavad

Glasgow has been praised for its pivotal role in revitalizing the Commonwealth Games, stepping in to host the event after the original hosts withdrew. Phil Batty, responsible for delivering the 2026 Games, highlighted Glasgow's efforts in creating a sustainable and scaled-back version of the event. The closing ceremony featured a fireworks display over the River Clyde, marking the end of the Games and the ceremonial handover of the Commonwealth flag to Amdavad, India, which will host the centenary event in 2030. Batty emphasized that Glasgow's decision to host the Games for a second time in 12 years has set a precedent for future hosts, inspiring more nations to consider hosting the event.
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U.S. Ranks Third Among World's Largest Agricultural Economies

U.S. Ranks Third Among World's Largest Agricultural Economies

U.S. Ranks Third Among World's Largest Agricultural Economies
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How India’s Gen Z movement of 'Cockroaches' dented Modi's political image

How India’s Gen Z movement of 'Cockroaches' dented Modi's political image

Young protesters in India achieved a rare political victory by forcing the resignation of a cabinet minister
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India's July factory growth near five-year low on weaker demand, PMI shows

India's July factory growth near five-year low on weaker demand, PMI shows

BENGALURU, Aug 3 (Reuters) - India's manufacturing sector expanded at its slowest pace in nearly five years in July as overall demand remained soft while a third consecutive month of slowing job creation also signalled a loss of momentum, a survey showed.