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Jio Phone confirmed to come with single SIM support

A representative from Reliance has reportedly confirmed that the Jio Phone will come with single SIM support. Reports say beta trials of the feature phone will start on August 15, while wider public availability will commence in September. Also, public bookings for Jio Phone, which only works on 4G VoLTE network, start on August 24. Notably, Reliance Jio has the only 4G VoLTE network at the moment

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Reliance Jio 4G average speed worst in India: OpenSignal

London-based internet firm OpenSignal has reportedly said that Reliance Jio offers the slowest 4G LTE speeds in India at 3.9Mbps on average. In its report, the firm said, Airtel has the fastest average speed at around 12Mbps.  However, the company added the average peak speed of Reliance Jio stands at 50Mbps.

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Google’s Sundar Pichai to join Alphabet’s board

India-born CEO of Google Sundar Pichai is joining Google's parent company Alphabet's board of directors, the company announced on Monday. "Sundar has been doing a great job as Google’s CEO. I really enjoy working with him," said Google Co-founder Larry Page. Pichai has been running the Google division since August 2015, including Search, Cloud, Maps, Android and YouTube.

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Vodafone-Idea merger gets CCI approval

According to reports, the Competition Commission of India on Monday approved the merger of Vodafone India and Idea Cellular to create the country's largest telecom operator. The transaction is expected to close in 2018 subject to customary approvals, Idea Cellular reportedly said. Shardul Amarchand Mangaldas and Co, which advised Vodafone in the deal, reportedly said, “The $23 billion transaction is the largest transaction by value in the history of Indian M&A.”

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Indian economy to go faster than China: Report

International Monetary Fund has reportedly said that India will stay ahead of China in growth sweepstakes in 2017 as well as 2018. According to IMF, the Indian economic growth is projected to accelerate 7.2 per cent forecast for 2017-18. In the case of China, the forecast has been marginally raised to 6.7 per cent in 2017.

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Launching Rs 200 note will fill missing middle: SBI

According to an SBI report, the introduction of Rs 200 note will fill in the "missing middle" even as the new currency in circulation has already reached 84% of pre-demonetisation levels. The report added that RBI recently "put orders" for it. Notably, the RBI is expected to introduce Rs 200 notes before the end of 2017 to ease pressure on lower denomination currencies that are in short supply.

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Google, Amazon, Facebook back Apple lawsuit against Qualcomm

A group representing major technology companies like Google, Amazon, and Facebook has supported Apple's legal dispute against chipmaker Qualcomm. The group has called on regulators to reject Qualcomm's bid to ban the import of iPhones in the US. Apple has accused Qualcomm of overcharging licensing fees for the use of its technologies in iPhones and iPads.

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Maruti launched its top-end variant baleno

Maruti Suzuki has launched its fully automatic top end hatchback Baleno at a price range of Rs 8.34 lakhs. The company already sells Delta and Zeta variants of the model with continuously variable transmission. Notably, the company has sold over 2 lakh units of Baleno since October 2015 and The vehicle crossed the 1 lakh unit sales milestone in less than a year.

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Seven Indian firms in 2017 Fortune 500 Global List

As many as Seven Indian companies were featured in 2017 Fortune 500 Global list, with Indian Oil, at 168th position, was the highest ranked Indian company, with revenues of over $53 billion in previous fiscal. Gold manufacturing company Rajesh Exports rose 128 ranks and was placed 295th globally. Hindustan Petroleum with revenue of $28 billion came last among Indian companies.

 

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Walmart tops Fortune 500 Global list for 4th straight year

According to Fortune 500 Global list for 2017, US retail giant Walmart has topped the list with a revenue of $486 billion, marking its fourth consecutive year of doing so. Interestingly, Walmart has claimed the top spot 12 times on the list, which ranks companies based on total revenues. Warren Buffett's Berkshire Hathaway and tech giant Apple were among the top 10, while Zuckerberg led Facebook and Jack Ma's Alibaba debuted on the list this year.

 

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Airtel says it lost Rs 550 cr each quarter on Jio's tsunami of calls

Accusing Jio of using “sinister design” to create a monopoly, telecom operator Airtel has said that it lost 21 paisa every minute amounting to Rs 550 crore per quarter due to ‘tsunami of calls’ coming from Jio. Airtel further reportedly said Jio is seeking an end to interconnection usage charge to transfer its own costs of Rs 20,000 crore a year to other operators.

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Ambani launches Jio phone “for an effective price of Rs 0”

Reliance Industries chairman Mukesh Ambani on Friday reportedly launched 4G-enabled ‘Jio phone’ at the company’s 40th annual general meeting in Mumbai. Ambani, India’s richest man, reportedly said, “The Jio phone would be available for an effective price Rs 0.” While announcing that voice will always be free on the Jio phone, Ambani reportedly said, “Jio will give them access to unlimited data on the Jio phone.” However, Customers would be required to pay a refundable security deposit of Rs 1,500 for three years, “for security reasons”.

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Jeep models prices slashed in India by up to Rs 18.5 lakh

US based Jeep has slashed the prices of its models in India by up to Rs 18.5 lakh on the Grand Cherokee Limited model. The Grand Cherokee Summit model gets a price cut of Rs 17.85 lakh, while the Jeep Wrangler Unlimited has received a price reduction of Rs 7.14 lakh. Also, the Grand Cherokee SRT witnesses a price drop of Rs 5 lakh, which is the least.

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Beware, WhatsApp message can steal your bank information

The larger messaging application WhatsApp is being used to propagate a new scam in the UK, with the intention of tricking users into disclosing their bank account details. UK's fraud and cybercrime centre, Action Fraud, has issued a warning against the ongoing fraud, complete with a screenshot of the fake WhatsApp message that's being used for the scam.

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Infosys Executive Vice President Ritika Suri quits

Infosys executive vice president Ritika Suri reportedly resigned on Tuesday. Ritika was also CEO Vishal Sikka's former colleague at German business software giant SAP. By the reports, Ritika, who earned over Rs 5.1 crore in 2016-17, was in charge of the company's corporate development. She led the acquisition of Israeli automation company Panaya, which was at the center of an investigation.

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Oil field row: Reliance, Shell, ONGC fined $3 billion

The government has ordered Reliance Industries, Royal Dutch Shell, and Oil and Natural Gas Corporation to pay $3 billion in penalty following an arbitration award in the PMT oil field dispute. The arbitration panel upheld that profit from the fields should be calculated after deducting prevailing tax of 33%, and not the 50% rate earlier. This will increase the government's share of profit petroleum.

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Volkswagen Polo GTI gets a Rs 6 lakh price cut

The Volkswagen Polo GTI has recently received a massive price cut of Rs 6 lakh in India, say reports. The Polo GTI, which was initially launched at Rs 25.99 lakh (ex-showroom, Delhi), is now priced at Rs 19.99 lakh (ex-showroom, India). A company spokesperson reportedly said the price cut is according to the revised Goods and Service Tax rates, which came into effect on July 1, 2017.

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SBI Life files for IPO, expected to raise over $1 billion

According to reports, the SBI Life Insurance, a unit of State Bank of India on Monday, filed for an initial public offering, that will reportedly raise over Rs 6,400 crore. Reportedly, SBI and its joint venture partner BNP Paribas Cardiff are expected to sell up to 8% and 4% stake, respectively. This will reportedly make SBI Life as the second Indian life insurer to go public.

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Reliance Jio, Patanjali among India's top 10 influential brands

According to a report by research firm Ipsos, American tech giant Google was ranked the most influential brand in India, with Microsoft and Facebook ranked at second and third respectively. Further, Baba Ramdev-led Patanjali Ayurved has been featured in fifth along with Mukesh Ambani-led Reliance Jio in ninth. The list also included SBI, the only financial institution on the list, at fifth position and telecom major Bharti Airtel at eighth.

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Amazon invests Rs 130 crore into its payments arm in India

In a bid to expand its operations in India, American e-commerce giant Amazon has reportedly invested Rs 130 crore into its payments entity, Amazon Pay India. The global retail giant has already invested over Rs 2,000 crore in India in the last two months. This comes after Amazon Founder Jeff Bezos had committed investments of $5 billion into the Indian market.

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