Connect with us

Business

President Donald Trump says United States does not want to do any Business with Huawei

Published

on

President Donald Trump says United States does not want to do any Business with Huawei

On Sunday US President Donald Trump said that the United States do not want to do any business with China’s Huawei even as the administration weighs whether to extend a grace period for the company.

As per the media reports on Friday the U.S. Commerce Department is expected to extend a reprieve given to Huawei Technologies Co Ltd that permits the Chinese Firm to buy supplies from U.S. companies so that it can service existing customers.

The temporary general license will be extended for Huawei for 90 days.

On Sunday Trump told reporters before boarding Air Force one in New Jersey that he did not want to do business with Huawei for National security reasons.

At this moment it looks much more like we’re not going to do business,” Trump said. “I don’t want to do business at all because it is a national security threat and I really believe that the media has covered it a little bit differently than that.”

He said there were small parts of Huawei’s business that could be exempted from a broader ban, but that it would be “very complicated.” He did not say whether his administration would extend the “temporary general license.”

Speaking earlier on Sunday, National Economic Council director Larry Kudlow said the Commerce department would extend the Huawei licensing process for three months as a gesture of “good faith” amid broader trade negotiations with China.

“We’re giving a break to our own companies for three months,” Kudlow said on NBC’s “Meet the Press”.

Business

Mukesh Ambani to launch RIL retail into online to offline ventures

Published

on

Mukesh Ambani to launch RIL retail into online to offline ventures

At Reliance Industries’ 42nd annual general meeting earlier this month, Chairman Mukesh Ambani talked about the New Commerce venture that aims to “completely transform the unorganized retail market, which accounts for 90 percent of India’s retail industry”.

This offline-to-online (O2O) initiative, which has previously been touted as the world’s largest such platform in the works, may be launched in October.

“Reliance Retail is planning to launch its e-commerce venture in two phases – a soft launch around Diwali, and then a full-fledged launch by December-January,” an industry official aware of the company’s plans told Mint, adding that a Diwali Dhamaka launch plan could entail discounts as rolled out by other online retailers.

“This user-friendly digital platform is designed for inventory management, customer relationship management, financial services, and other services. This will modernize even the smallest neighborhood Kirana shop to become a future-ready digitized store,” he had said, adding that the company is deploying blockchain, IoT, AI and other new technologies on a pan-India basis for this initiative.

RIL’s retail arm has been working on this New Commerce plan for nearly two years, and according to the Chairman, the beta trials have been successful, showing a significant increase in sales and improvement in margins for the participating merchants. Under the O2O model, pioneered by Chinese e-commerce giant Alibaba Group Holding Ltd, a consumer searches for the product or service online but buys it from a physical store.

This allows Reliance Retail to not only cater to the local demand but also save logistics costs and enter areas currently outside the purview of online retailers. According to sources, RIL is initially looking at the consumption basket, which includes daily staples, soaps, shampoos, and other household items.

Continue Reading

Business

Forensic Reports proves Cafe Coffee day VG Siddhartha committed Suicide

Published

on

Forensic Reports proves Cafe Coffee day VG Siddhartha committed Suicide

On Monday the Forensic report on the death of Café Coffee day owner V G Siddhartha corroborates the Suicide theory said the Mangaluru Police Commissioner PS Harsha.

According to Police sources water was found in Siddhartha’s lungs and his death was due to drowning.

As per the PTI reports Commissioner said that “We have received the FSL report. It corroborates the suicide theory,”

Siddhartha had gone missing from the Netravati river bridge near Ullal in Mangaluru on July 29 evening and two days later, his body was found floating in the river.

He had left home on July 29 telling his family members that he was heading towards Sakaleshpura, where he had his coffee estate.

However, he directed his driver to go to Mangaluru.

At the beginning of the Ullal bridge on the swollen Netravati river, Siddhartha got down from the car and asked his driver to wait for him as he walked on the bridge alone on a rainy evening without an umbrella. Two days later his body was found.

Meanwhile, Siddhartha’s father 95-year old Gangaiah Hegde, who was suffering from old age-related illness and was undergoing treatment at the Gopala Gowda Shanthaveri Hospital, passed away on Sunday, hospital authorities confirmed.

A few days before his death, Siddhartha had visited his father, who was in coma, in the hospital

Continue Reading

Business

RIL contributed Rs.1.11 crore to Tirumala Shrine

Published

on

On Sunday Reliance Industries limited made an offering of Rs1.11 crore to the famous hill shrine of Lord Venkateshwara nearby Tirumala.

According to the reports of PTI, A representative of Reliance Industries Limited handed over a demand draft for the amount to AV Dharma Reddy a special officer of  Tirumala Tirupati Devasthanams (TTD), that governs the cash-rich shrine.

RIL has requested TTD to Utilise the fund for temple run pilgrimage free meal trust.

 He added that The meal scheme, which benefits about one lakh devotees daily on the Tirumala Hills and at select places in Tirupati, is run by the TTD utilizing the interest accrued on the over Rs 1,000-crore corpus contributed by devotees since 1985.

Continue Reading

Top News