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 By:  Anumeha Chaturvedi ET Bureau India's  Chinese app ban  still leaves out  ByteDance  backed  music streaming  app  Resso  from the list. Launched in March this year, Resso generated 1.8 million downloads across the App Store and Google Play Store in India between October 1 –November 23, as per data shared by Sensor Tower with ET. The government had banned ByteDance owned viral short-video app  TikTok  in June following border hostilities with China besides other  Chinese apps . On Tuesday, the Ministry of Electronics and Information Technology (Meity) issued a new order under section 69 of the IT Act blocking access to 43 more apps. The list included TikTok rival Snack Video, which had escaped the wide ranging ban on Chinese apps so far, besides other apps such as  AliExpress , AliSuppliers Mobile App, WeWorkChina, CamCard-Business Card Reader and dating apps such as WeDate and TrulyChinese. On the Google Play Store, Resso is described as a music streaming app that lets users

By:  PTI   NEW DELHI: Tech giant  Google  saw its India revenues grow 34.8 per cent to about Rs 5,593.8 crore in 2019-20 over the previous financial year, as per regulatory documents. Google India 's total income was at Rs 4,147 crore in the financial year ended March 31, 2019, according to Registrar of Companies filing shared by market intelligence firm Tofler. The net profit was higher by about 23.9 per cent at Rs 586.2 crore in FY20 as compared to Rs 472.8 crore in the preceding fiscal, it added. "The Board is glad to inform you that during the period beginning from April 1, 2019, and ending on March 31, 2020, the company has achieved a turnover (revenue from operations) of Rs 53,847 million, which is higher than the earlier year of Rs 39,928 million," the filing said. Google India's total expenses rose 30.4 per cent to Rs 4,455.5 crore in FY20 from Rs 3,416.5 crore in 2018-19. When contacted, a Google India spokesperson said: "In the FY19-20 financial year, G

 By:  PTI New Delhi:  HMD Global , which sells  Nokia  brand of mobile phones, on Thursday said India is "at the heart and centre" of its business and the company is exploring if this market can be leveraged for exports as well. HMD Global - which launched its latest Nokia 2.4 in India for Rs 10,399 - is working with various ODM (original design manufacturer) and EMS (electronic manufacturing solution) partners to meet the domestic demand for feature phones and smartphones. "We have different ODM and EMS partners who we work with in India... all of our  devices  as of now what we are selling are 100 per cent manufactured in India. While they are designed in Finland, all the smartphones and feature phones for India are manufactured in India," HMD Global Vice President  Sanmeet Singh Kochhar  told . He added that the company has managed supply chain well, both in terms of components and devices. Handset vendors faced constraints in supply after the lockdown, and many

 By:  ETTelecom Bharti Airtel  chief executive  Gopal Vittal  has called on the government to keep spectrum prices affordable to give  telcos  the financial headroom to invest meaningfully in 5G networks. He also underlined the need for strong collaboration between the government, private sector and academia to leverage the power of the next-gen fast broadband technology and building a vibrant 5G ecosystem, spanning devices, networks, apps and services. “One of the critical enablers for  Digital India  is affordable spectrum so that we can invest in building networks rather than spending money on just airwaves," Vittal said at a  Ficci  event Thursday. His comments come at a time when the government plans to hold a  4G  airwaves sale in early-2021, which may be followed by a sale of 5G airwaves later next year. Vittal, in fact, had recently said the Sunil Mittal-led telco would give 5G airwaves a miss if auctioned at the reserve prices set by the sector regulator, that it feels ar

 By:  Prashant Mukherjee Assistant Editor - Energy, ET Prime The Nifty 50 hit a lifetime high at 13,150 levels this week, but for investors in shares of governmentowned public-sector banks, it has been a huge disappointment. Even a mere expectation of positive returns looks like a distant dream. State-owned bank stocks have been leading the list of laggards and gross under-performers in the recent equity-market rally, plagued by a slew of corporategovernance issues and ballooning bad loans. The NSE Nifty PSU Bank Index has lost nearly 49.71% in the past one year, making it the worst-performing sectoral gauge among the 11 compiled by the bourse. While the slump in public-sector banks has been well-documented, the question remains: Is the worst over and can we see shadows of green shoots now? PSU-inde performance The Nifty PSU Bank Index captures the performance of all public-sector banks traded at the bourses. It comprises 12 companies, of which State Bank of India (SBI), weighing 33.09

By: Priyanka Salve ET Prime Oxygen cylinders have saved more lives in the last six months than they ever did in the last many years. Thanks to Covid-19, which aects a patient’s respiratory system, oxygen cylinders were in high demand. While the virus broke the back of the economy of the biggest countries, investors were looking for pharma stocks and other allied industries which could benet from the pandemic. A top draw was the oxygen-cylinder industry, in which Linde India was a major listed manufacturer. Naturally, its stock price was on re. Mutual funds and retail investors got excited, except that the only problem was that medical cylinders are just a small part of Linde's business. The company did run the business at full capacity, yet the growth in prots was limited, as its main business is industrial cylinders. Will the company now invest more in oxygen cylinders to ride the boom? Unlikely. So, what happens when Covid-19 vaccines get released? Will the demand for these cylin

 By:  Madhavankutty G Lead - Banking and Economic Research, ET Prime It took nine years, many sleepless nights of intense negotiations, gargantuan mugs of coee to stay awake, and a sea of paperwork. Even as Donald Trump was busy looking for ways to nd holes in US presidential election results, a bunch of seasoned negotiators and oicials on the other side of the globe diligently stitched what would create world’s most-powerful trade bloc. Signed on November 15 by 10 ASEAN countries and their trade partners, the Regional Comprehensive Economic Partnership (RCEP) can deal a body blow to any global trade grouping. Is India losing out on something big? Or was it just in its decision to pull out of the negotiation? Before we get there, let’s rst understand what RCEP is all about and what makes it a deal to watch out for. The need for striking a trade deal has grown more urgently for ASEAN as its members grapple with the economic impact of the US-China trade war. RCEP can be benecial for coun

  Anjali Venugopalan Sreeradha Basu Correspondent, ET Indian technology professionals are now getting more oers for remote work from global employers. According to several companies which help hire high-prole tech talent, demand has gone up twothree times from pre-pandemic levels, as more companies are now convinced that work-from-home indeed works. Hiring companies like Instahyre, Interviewbit, Rocket, Techfynder, CIEL HR Services and Pesto Tech said rms from the US, Europe, Australia and the Middle East were now hiring, especially for contract roles. Hiring sentiment was dull in March, April and even May due to lockdowns in place globally, but it has since picked up. The number of applications and people hired have more than trebled in JulySeptember (yes) compared with the previous quarter, said Sarbojit Mallick, a cofounder of Instahyre. Instahyre works with 8,700 companies now, up from 5,300 last year, and its revenue has increased threefour times, he said. Most of the addition of

Shariq Khan Journalist, ET  The World Trade Organisation (TO), which was instituted to promote global trade through a multilateralism-backed global trading regime, is losing relevance. With global trade hammered by a pandemic, many wonder if it’s time to write WTO’s obituary. WTO’s 25 years of existence has been mixed, but the challenges it faces now are most serious in nature, and ones that question its very legitimacy. Much of the precipitous downward spiral began as soon as Donald Trump became the president of the United States. Many around the world were already questioning the benets of globalisation, and Trump added fuel to those sentiments. Countries that so far swore by the virtues of globalisation shifted their allegiance to domestic priorities. Consequently, trade wars characterised with tit-for-tat taris among nations became rampant. WTO was often reduced to a mere spectator. The US has been both the leading voice and force in all the strategic aairs of WTO. As the Trump adm

 By  Jack Ewing New York Times The funeral directors will have to wait for their big get-together. So will the toymakers, the equestrians and the vegans. All those groups and many more had scheduled trade fairs to take place in Germany in recent months. But these rituals of business life, a chance for people to make deals, check out the competition and commune with others in the same walk of life, are in crisis. The mass cancellation of trade fairs has been a disaster for hotels, restaurants and taxi drivers around the world, but especially in Germany. The country has four of the world’s 10 largest trade venues, more than any other nation. The big worry for the exhibition industry is that companies will discover they can do without trade fairs. Trade fairs have played a central role in German economic life at least since the Middle Ages, when merchants convened in cities like Leipzig to trade wine, furs, grain and gossip. The rst Hanover Fair in 1947, a showcase for machine tools and o