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New Delhi / Bloomberg India’s Home Ministry has rejected Google’s plan to include photography of the country’s roads, tourist attractions, rivers and mountains in its free Street View mapping service. A panel consisting of security agencies and defense forces concluded Alphabet Inc.’s Google could not offer the 360-degree imagery to users due to security concerns, said a government official ...
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June, 2016
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11 June
Dr Reddy’s to buy eight products for $350mn
New Delhi / Tribune News Service Dr. Reddy’s Laboratories Ltd, India’s second-largest drug maker, on Saturday said that it will acquire a portfolio of eight abbreviated new drug applications (ANDA) in the US from Teva Pharmaceutical Industries Ltd and an affiliate of Allergan plc for $350 million. The company said it will buy this portfolio on a cash free, ...
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11 June
Pak awards $395mn 4G licence to Telenor
Karachi / AFP Pakistan awarded a $395 million 4G licence to Norwegian telecom giant Telenor, as it seeks to capitalise on a booming domestic mobile market some two years since broadband Internet arrived in the country. In 2014, Pakistan auctioned its first 4G broadband licence to China’s Zong for $210 million, along with 3G licenses to Zong, the UAE’s ...
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11 June
Japan’s Line to raise as much as $1bn in IPO
Tokyo / Bloomberg Line Corp. is aiming to raise as much as ¥113 billion ($1 billion) in an initial public offering (IPO) in July, putting it on track to deliver the biggest market debut for a technology company this year. The sale of new and existing shares, in the US and Japan, values Japan’s most popular mobile-messaging service at ...
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11 June
Sun-powered Solar Impulse 2 plane flies over Statue of Liberty
New York /Â AFP The Solar Impulse 2 aircraft flew by the Statue of Liberty early on Saturday, ending the US portion of its bid to circle the globe using only solar power. “It’s absolutely incredible,” Swiss pilot Andre Borschberg said over a live video feed as the iconic statue lit up the night below him. “It’s a dream here.” ...
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11 June
Tesco supermarket to exit Turkey
London / AFP Britain’s biggest retailer, supermarket group Tesco, said it was selling its Turkish business as its international arm focuses on its operations in Central Europe and Southeast Asia. Tesco, which is slowly turning around its performance after a record annual loss in 2014/15, said in a statement it was offloading also its mainly British restaurant chain, Giraffe, ...
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11 June
Latam Airlines to cut A350, 787 orders as Brazil traffic slumps
La Paz / AFP Latam Airlines Group SA, the biggest carrier in South America, said a slump in Brazilian traffic means it’s likely to cancel or delay some of the 53 wide-body jet orders placed by constituent units before a 2012 merger. Latam is reviewing some of the 27 Airbus Group SE A350s going to Sao Paulo-based TAM and ...
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11 June
JetBlue trims growth plans on revenue woes
Washington / Bloomberg JetBlue Airways Corp. cut its planned growth for this year, grappling with disappointing results for a key measure of revenue just as fuel prices threaten to crimp profit. The airline said it will increase flight and seat capacity between 8 percent and 9.5 percent this year, down from previous plans of as much as 10.5 percent ...
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11 June
India defers plan to raise FDI limit in civil aviation to 74%
NEW DELHI / Tribune News Service The aviation ministry has decided to shelve a proposal to raise the foreign investment limit in Indian airlines to 74%. Foreign airlines are currently allowed to own as much as 49% in a local airline. The proposal to raise the foreign investment limit was part of the draft civil aviation policy, which is ...
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11 June
Apple’s witty Siri to rival Amazon’s Alexa
Bloomberg Asking Apple Inc’s voice-activated assistant, Siri, what the company plans to unveil at its Worldwide Developers Conference next week elicits the response, “If I told you, they’d probably make me sit through product security again.†Witty, perhaps, but Siri will have to supply more satisfying answers if it’s going to convince customers, developers and investors that Apple is ...
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