In a new development, the South Korean government has passed a law which prevents Apple and Google from locking app developers into their built-in payment systems. Let’s understand the business model

In a new development, the South Korean government has passed a law which prevents Apple and Google from locking app developers into their built-in payment systems. Let's understand the business model

How new South Korean law may hurts Apple and Google

Mindgrove's system-on-chips (SoCS) are built to be power-efficient and cost-effective for use in Internet of Things (IoT), vision and automobiles

State-owned Indian Oil Corporation (IOC) has begun a probe into allegations of a US speciality chemicals firm bribing its officials 15 years back to obtain contracts to supply catalysts, according to a company's regulatory filing.
Albemarle Corporation, a global speciality chemicals supplier that develops and sells catalysts used in the operation of oil refineries, allegedly "paid approximately USD 1.14 million in commission to India intermediary company relating to Indian Oil Corporation business and obtained approximately USD 11.14 million in profits on that business between approximately 2009 and 2011," according to a US SEC order dated September 28, 2023.
Albemarle was caught for bribery by the US authorities in 2017 and then settled the case in September 2023 by paying a hefty fine of more than USD 198 million to avoid prosecution.
In a filing, IOC said it is "neither party to nor is there any allegation against the company in relation to the proceedings" in the US SEC.
"Howev

Between 2009 and 2017, Albemarle also paid Indian agent an excessive commission to obtain catalyst orders from Indian private customers

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Yadav's statement came while he was assuring saints of providing permanent space in Ujjain for the construction of Dharamshala, halls for religious gatherings

A group of people claiming to be members of Osmania University Joint Action Committee on Sunday vandalised flower pots and other items at the residence of top Telugu actor Allu Arjun here, demanding justice to the woman who died in 'Pushpa-2' screening stampede.
Chief Minister A Revanth Reddy condemned attack and directed the state Director General of Police and the city police commissioner to be tough in maintaining law and order.
Police in a release said that one of the protesters who arrived at Allu Arjun's house, mounted the compound wall and started throwing tomatoes.
When the security staff objected and persuaded them to get down from the wall, they manhandled the security staff and damaged some flower pots, the release said.
The protesters raised slogans for a while and spoke to the media waiting at the gate, it said.
When they were informed, Jubilee Hills Police reached the place and took six people into custody.
A case has been registered against the six and a few others

A case has been registered against the six and a few others who were involved in the vandalism

The CII pointed out that despite being successful, the PSL framework required recalibration to stay relevant

The GST Council, in its meeting on Saturday, is likely to decide on reducing tax rates on life and health insurance premiums, but a decision on big-ticket rate rationalisation, including a higher tax on sin goods, may be deferred.
The GoM on GST rate rationalisation had proposed rate rejigs in 148 items in its recommendations, but sources said that consensus is needed to be built on some of the tax changes that the panel has suggested and some more time may be needed for that.
The 55th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state counterparts, is also likely to deliberate on bringing Aviation Turbine Fuel (ATF), a major component for airline industry's operation cost, in the Goods and Services Tax (GST) fold.
The GST rate is also proposed to be cut on food delivery platforms like Swiggy and Zomato, to 5 per cent (without input tax credit), from the current 18 per cent (with ITC).
However, the Fitment Committee (comprising tax

Also, the Group of Ministers (GoM) on GST compensation cess is likely to get a six month extension till June, 2025, to submit its report. The compensation cess regime comes to an end in March, 2026

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Blend launches Blend Studio: AI tool for ecommerce photography

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How new South Korean law may hurts Apple and Google

In a new development, the South Korean government has passed a law which prevents Apple and Google from locking app developers into their built-in payment systems. Let’s understand the business model

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