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Microsoft has announced Xbox Cloud Gaming support with Xbox Game Pass Ultimate for its Xbox Series S\/Series X, and Xbox One consoles. The US tech giant made the announcement at Gamescom 2021 Xbox stream, which included trailers and gameplay of upcoming games. While Microsoft is yet to announce a fixed date for Xbox Cloud Gaming on the Xbox console, it has said the service would become available by the holiday season. The game streaming service is available in beta form for tablets, mobiles, and PCs at present. Xbox Cloud Gaming service on consoles will allow members of Xbox Game Pass Ultimate to play over 100 games on the first day without having to wait to download those. They would also be able to play multiplayer games from the moment they are invited without installing the games. Xbox One users can additionally play games such as The Medium and Microsoft Flight Simulator via cloud as these are not available for the older console. This feature, the company said, would be added at a later date. Xbox Cloud Gaming on Xbox consoles will support up to 1080p at 60fps. While the service is likely to be made available to the public from the holiday season, it will arrive for Xbox Insiders in the fall, thus allowing the company to gather feedback from testers and improve the user experience. Xbox stream at Gamescom 2021 also witnessed Microsoft showcase upcoming games such as Dying Light 2, State of Decay 2, Age of Empires IV, Forza Horizon 5, Psychonauts 2, and others. Crusader Kings III, the PC strategy game, will also make its way to consoles. Microsoft said the user interface had been customised to work with Xbox Wireless Controller. While the tech giant has not yet announced the release date, the game would be available through Game Pass.
Apple HomePod: Gaana, a popular music streaming service, will now support hands-free music streaming with the help of voice commands on Apple At present, the Rs 9,900-smart speaker allows direct streaming of music from Apple Music as a default, but with this, users would have an alternative streaming service as well as an entire extra library that Siri can access using the device. This is especially significant since Gaana has a pretty extensive Indian music library in several Indian languages. This makes Gaana more appealing to the Indian audience that wants to listen to a wider variety of songs in Indian languages. Also read | Amazon Echo Show 8 (2nd Gen) launched in India: Price, availability, specs and everything to know Gaana provides service in free as well as paid models, and HomePod Mini allows hand-free streaming regardless of whether the user has a free plan or a paid one. However, for this to work, users would need to first activate the service on the Gaana app in an iOS device that is linked to the HomePod Mini. To set this up, users would need to head to the Settings tab and then select Following this, there would be some more instructions given to users on the screen, following which they would be able to activate this facility for their HomePods Mini. Once the service has been activated, simple voice commands telling Siri to play a specific song from Gaana would let users enjoy streaming songs directly from the platform. This is a significant development on Cupertino While HomePod Mini could stream music from Amazon Prime Music and Spotify, this needed to be done with the help of a smartphone that acted as a controller. Moreover, for this, an AirPlay connection needed to be established between the two devices. This is also key because Cupertino has always aimed to build an Apple ecosystem, which means that its devices provide limited support to third party devices and services, and HomePod and HomePod Mini are no exceptions with Apple Music being the default service. In fact, the smart speaker cannot be connected to other devices merely by Bluetooth, requiring an Apple AirPlay connection between the device and HomePod to stream other content. This change, therefore, could indicate a more open policy on the part of Apple, even if just with regards to the services its HomePod offers. Apple is currently involved in a legal battle with Epic Games for its policy of charging developers a 30% commission fee and not allowing installation of third-party apps. The latter was also highlighted by the court, which sought explanation as to why Apple was not allowing sideloading of apps on its iPhone as it did for Mac. Though Apple seemingly averted the issue by highlighting user security, this support too Gaana, a third-party service, albeit limited, could be a step on Cupertino
By Rajesh Kurup Tata Sons, the holding firm of Tata Group reported a 61.8% decline in its operational revenue to Rs 9,460.24 crore during financial year 2021 compared to the year-ago period, according to the company Operational revenue a year ago (FY20) at Rs 24,770.46 crore was much higher, mainly on account of special dividend received from Tata Consultancy Services. Tata Sons Other income during the year rose substantially to Rs 10,138.11 crore, against Rs 125.93 crore in FY20, due to buyback of shares by TCS. Tata Sons68% to Rs 19,397.08 crore, while on a standalone basis, it more than doubled to Rs 6,511.63 crore. The carrying cost of investments in the company stood at Rs 95,806.33 crore during the year under review, against Rs 84,534.78 crore in the previous year. The market value of Tata Sons30 lakh crore during the year, while the group80 lakh crore, the annual report stated. Tata Sons increased its shareholding in group company Tata Communications to 58.86% through an offer for sale (OFS), while shareholding in AirAsia India was increased to 83.67% from the earlier 51% through additional stake buy. Share in Tata Power was hiked to 45.21% from earlier 35.27% by way of primary issuance of shares, and that in Tata Chemicals was increased to 31.90% from 28.51% through open market buys. In Tata Motors, the holding firm increased shareholding to 43.73% (from 39.52%) of ordinary shares and 7.57% (from 5.26%) of differential voting right shares through open market purchases. The company invested in new businesses to capitalise on future growth opportunities and increase its shareholding in existing businesses, it said. As of end of the reporting year, Tata Sons had 269 subsidiaries and together with subsidiaries had 39 associates and 40 joint ventures. Tata Sons is also seeking shareholders The notice, however, did not specify the purposes for which the funds would be used.
Indians are clinging to the cryptocurrency economy. The country with nearly 1.4 billion people doesn According to the 2021 Global DeFi Adoption Index by blockchain data platform Chainalysis, India was ranked sixth in terms of DeFi adoption with the US, Vietnam, Thailand, China, and the UK in the top-five bracket. DeFi essentially involves a financial system, built primarily on top of the Ethereum network, wherein financial products are available on the decentralized blockchain network and open for use by anyone in a peer-to-peer manner instead of accessing the middlemen such as banks or a company to facilitate a transaction. Buying and selling digital assets are among the common DeFi uses cases. India I think it will be wise to say that mostly businesses and the crypto community are driving the DeFi adoption in India. There is an urgent need to take DeFi to the masses to transform Indias financial system and make it future-ready. When Indias masses start adopting DeFi, we will see India at the top in the DeFi adoption index, The data suggested that while grassroots cryptocurrency adoption generally is highest in emerging markets, Subscribe to Financial Express SME newsletter now: The index quoted him saying, In the long run as ETH gas prices fall, it On Wednesday, former RBI governor Raghuram Rajan had told the Reuters Global Markets Forum that while cryptocurrencies have a He noted that cryptos won
Bulls propelled domestic markets higher on Tuesday, helped by positive global cues. SP BSE Sensex ended the day 403 points or 0.73% higher at 55,958 points while the NSE Nifty zoomed 0.78% to close at 16,624. Bank Nifty marched upwards, gaining 1.67% to end at 35,712 points. Bajaj Finserv was the top Sensex gainer, jumping 7.9%, followed by Tata Steel, Tech Mahindra, and Bajaj Finance. On the other side, Nestle India was down 1.34%, as the only Sensex stock to fall over 1% on Tuesday, followed by Infosys, HDFC, and HCL Technologies. The overall market momentum was positive with broader markets participating in the up-move after days of underperformance. India VIX closed with losses. The texture of the pullback rally indicates the index is likely to consolidate between 16500 to 16720 levels. In addition, on the intraday chart, the index has formed a higher bottom formation which suggests further uptrend from the current levels. As long as the index is trading above the 10 day SMA or 16500 level, the uptrend wave is likely to continue up to 16700-16750 levels. On the flip side, the index would be vulnerable below 16500. Advance decline ratio also improved dramatically to the highest since Aug 12. Nifty is just 76 points away from the all time high formed on Aug 18. More than the Nifty, focus will remain for some time on the broader markets, as to how much does the broader market recover when the Nifty is near all time highs. Metal stocks led the rally as value buying was witnessed in the sector after deep sell-off during the past four trading sessions due to weak iron ore futures across the globe. The USFDA granted full approval to the covid-19 vaccine by Pfizer and BioNTech which pumped in hopes of faster inoculations. S Ranganathan, Head of Research at LKP securities – While the Bajaj Twins helped power the Sensex back to 56K in Afternoon Trade, what was more encouraging was to see savvy investors begin to accumulate stocks sold at higher levels in the broader market which speaks about the recovery in the earnings cycle during Q1 despite the adverse impact of the second wave. Buoyancy in tax collections brought back traders into Metal names even as the Nifty Bank lent good support. Arijit Malakar, Head of Research Ashika stock Broking – Market has given strong closing on Tuesday on the back of positive global cues and optimism over economic growth amid the easing of COVID-19 related restrictions by the states. The unlocking in the country has manifested itself in improving performance across various high frequency industrial and service sector indicators, mobility and toll collections in July 2021. Business activity in India stayed buoyant for the second week in a row with Nomura India Business Resumption Index rising to 100.8 for the week ended August 22. Global markets also remained strong after US FDA gave the final approval of the Pfizer Inc. \/BioNTech SE COVID-19 vaccine. Baring IT and FMCG index all the major indices closed in positive. On four hourly charts, the index has taken immediate support at Middle Bollinger Band formation, which indicates further positive moves. However, still, there is a hurdle at around 16700 levels which may act as an immediate resistance zone. Above that, can expect 16800\/16850 levels in the nifty index while on the downside, the support comes at 16400 levels.\u201d
Telecom regulator Trai on Thursday recommended to the government to reduce\/remove various levies imposed on satellite operators as well as measures like avoiding intermediaries in the segment to make services affordable. The regulator, in its recommendations on licensing framework for satellite-based connectivity for low bit rate applications, has suggested allowing use of all types of satellites for low bit rate connectivity. It also recommended use of foreign satellites for providing connectivity for a longer duration than the permissible 3-5 years at present. Low bit rate services are required for machine-to-machine communications, sensors used for tracking cargo, vehicles, railway and traffic signals, soil content for farming, among others. The service licensees should be mandated to establish the earth station in India, corresponding to the chosen foreign satellite or satellite system, prior to using the leased capacities, Trai recommended. The Telecom Regulatory Authority of India (Trai) said providing choice to the VSAT operators to directly negotiate and execute agreements with the satellite system provider will also help in avoiding the intermediaries and making the satellite-based services affordable. The regulator has not recommended any separate licence for low bit rate services but has suggested amendment in the existing GMPCS (Global Mobile Personal Communication by Satellite) licence meant for satellite services. Trai has also pitched for lowering the spectrum usage charges to 1 per cent from 4 per cent for low bit rate satellite connectivity. Replacing the existing formula-based mechanism, spectrum usage charges for using satellite frequencies under the GMPCS service authorization should be prescribed as 1 per cent of AGR. These charges would cover the entire spectrum charges for handsets\/user devices as well as for earth stations, Trai said. The regulator has also recommended removal of network operations and control centre (NOCC) charges and facilitation charges by the government when hiring foreign capacities from the approved list of foreign players. The Authority recommends that the government should consider doing away with the NOCC charges for use of space segments. The spectrum charges paid by the service licensee should cover all the administrative, operational and testing charges, Trai said. At present government levies NOCC charges of Rs 21 lakh per transponder per annum along with applicable service tax and cess on satellites, and Rs 6,000 per antenna per trial for mandatory performance validation testing of earth station. Trai recommended that as per captive VSAT CUG (closed user group) service license, the licensee shall pay license fee annually at Rs 10,000 per annum per VSAT terminal or earth stations installed. The regulator further suggested that there should not be any separate license fee for the Internet of Things and aggregator devices which are connected to VSAT terminal in a hybrid model of architecture. Besides, Trai has called for setting up a comprehensive, simplified, integrated, end-to-end coordinated, single window online common portal, having inter-departmental linkages for transfer of application and information for parallel processing. The portal should connect all the agencies involved in grant of various approvals like the Department of Space, Department of Telecom etc, wherein the service licensees can place their request and the agencies respond online in a transparent and time-bound manner. The regulator said the National Single Window System (NSWS) portal established by the Department for Promotion of Industry and Internal Trade (DPIIT), known as Maadhyam, should include the Department of Space.
Walmart International President and CEO Judith McKenna on Thursday said the retail giant is leveraging the Speaking at the [email protected] event, McKenna said learnings from the Indian operations have helped Walmart make improvements in its existing businesses as well as given it new business ideas that the Bentonville major has started applying globally. the spirit of innovation and creative problem solving is just amazing. So we It goes without saying that India is also being an amazing source of talent for us, which is helping us build a global business, McKenna noted that its India technology team and that And fresh is one of the tightest margin, most difficult to manage categories in retail, and the team delivered a product that gave us game-changing results, Earlier this month, Walmart had said its operations in markets like India, China and Mexico had propelled its international business growth by 13 per cent in the second quarter ended July 31, with e-commerce continuing to expand its share in the segment. A Flipkart-developed advertising platform is helping Walmart The top executive also pointed out that digital payment platform PhonePe – which has eased friction in payments for more than 300 million users and is digitising 25 million kiranas in India – is helping Walmart Lauding the efforts of the Indian team, McKenna said: So I am really interested in this and I think we have a lot to learn this Shopsy. Users can register on the Shopsy app using their phone numbers and begin their online entrepreneurial journey. Besides, Walmart is also focussed on expanding export opportunities for MSME (Micro, Small and Medium Enterprises) sector export opportunities for MSMEs. Walmart has a 20 year history of sourcing from India and already exports more than USD 3 billion worth of Made-in-India goods each year to 14 markets worldwide, McKenna said adding that In December last year, Walmart had said it will triple its exports of goods from India to 10 billion dollars each year by 2027. According to McKenna, MSMEs need training and support to help them get export-ready. Under its programme Vriddhi, the retail major is training people to help them scale and grow their business in the domestic market and for export with Walmart or other companies Walmart has a team on the ground, helping them to raise the standards to be fit for global sourcing. While talking about the pandemic, McKenna said it has changed the shape of retail and has highlighted the importance of Walmart India has long played a big role and will continue to do so, she said. Walmart Inc owns a majority share in Flipkart. It had invested USD 16 billion in 2018 in the Bengaluru-based e-commerce platform. Post that, it has continued to participate in the two rounds of funding raised by Flipkart. Recently, Flipkart had raised USD 3.6 billion that valued the e-commerce company at USD 38 billion.
After a dovish speech at Jackson Hole by Federal Reserve Chair Jerome Powell, yield on the 10-year benchmark bond fell almost 3 basis points on Monday on improved sentiments. Traders had the appetite for securities, as the Reserve Bank of Indias governor in his recent interview also signalled a pro-growth focus which provided comfort to the market. Additionally, the firm response at the weekly bond auction and the absence of devolvement in the past few auctions supported the market on Monday. The 10-year benchmark 6.10%-2031 bond yield ended at 6.2249%, as against 6.2539% close on Friday. Market participants said sentiment improved after Powell said that the reduction in asset purchases programme would not be intended to carry a direct signal regarding the timing of interest rate lift-off. The Fed is likely to begin cutting the bond purchases before the end of the year if economic progress continued. However, a specific time to cut the $120 billion a month bond-buying programme was not given. Powell expressed caution about employment and said that inflation was hovering around Feds 2% target. Meanwhile, the bond market also got comfort from the comments by the RBI governor in a recent interview with CNBC. So, throughout the pandemic, there have been very pleasant surprises for the market. We are fully conscious and will not try to make any changes which take the market by surprise. We don Additionally, the demand from investors has been seen improving as has been evident in the last few aucitons. Also, the devolvement in auctions has reduced, the last devolvement has taken place on July 30, while on August 6 the central bank has rejected all bids on 10-year bonds at a weekly bond auction. Market participants expect that the yield benchmark bond to trade in a thin range ahead of the announcement of Q1 GDP data. 20-6.30% as markets await the 1QFY22 GDP data. We expect the 1QFY22 GDP at 21.7% yoy aided largely by strong favourable base effect,
Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks BSE Sensex and Nifty 50 ended in red as bears took over. BSE Sensex ended 215 points or 0.37 per cent down at 57,338, while NSEs Nifty lost 56 points or 0.33 per cent to settle at 17,076. Asian Paints, Nestle India, Axis Bank, Titan Company, Dr.Reddys Laboratories, L7T, Bajaj-Auto and IndusInd Bank were among top BSE Sensex gainers. On the flip side, MM, Tata Steel, Bajaj Finserv, Tata Consultancy Servics (TCS), Housing Development Finance Corporation (HDFC), Infosys, HCL tech, UltraTech Cement were the top index laggards. Nifty sectoral indices mostly ended in green, except for Nifty Financial Services, Nifty IT, Nifty Metal and Nifty Pharma indices. Bank Nifty gained 0,4 per cent to settle at 36,574.30
By CHAITALI DUTTA Though I have the money to buy a car, should I take a loan of some amount and later repay it? Hence, taking a loan for creating a depreciating asset is counterintuitive. If you have the money to buy the car outright, go ahead without taking a car loan. I could not deposit annual instal-ment of Public Provident Fund (PPF) in 2020-21 due to the pandemic as well as personal reasons. Can I do it now before filling the ITR and get tax rebates? However, no such extension has been provided for FY20-21. Hence, a penalty of Rs 50 will be applicable here. I plan to take an education loan for my son. Can I claim income tax benefit under Section 80E? Ensure that the university is an authorised education institute. As far as the bank is concerned, the section specifies that If these conditions are fulfilled, you will be able to claim the deductions. I am a 52-year-old salaried private sector employee. I want to take a home loan. Is there any upper age limit to take a loan from a bank or a housing finance company? For a salaried person, the loan tenure is matched with the retirement age. This is flexible in case a person is engaged in business. The specific situation Usually, having a younger, working co-applicant, either a son or a daughter, increases the tenure and as a result, reduces the EMI. The writer is founder, AZUKE Personal Finance Advisory (www.azukefinance.com). Send your queries to [email protected]