Section: Business

Alibaba Chairman Jack Ma thinks Artificial Intelligence could lead to World War III

Published on By prameya news7 (author)

Alibaba Chairman Jack Ma, in an interview to CNBC, said the rising technological advancements in artificial intelligence could lead to World War III. Speaking to the news channel, the billionaire Chinese business magnate said there is a need for the world leaders to educate people about the pain that the rapid rise in automation and artificial intelligence will bring.

Waymo hires ex-Tesla engineer to lead self- driving hardware

Published on By prameya news7 (author)

Waymo has hired Satish Jeyachandran, Tesla Inc.’s former director of hardware engineering, as the mobility division created by Google parent Alphabet Inc. moves closer to commercializing its self-driving vehicle technology.

Sensex takes to caution, slips 68 points

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Market struggled to capitalise on a higher opening today as the Sensex dropped 68 points, with participants keen to scoop up profit amid mixed Asian leads. Investors are trying to figure out how the Goods and Services Tax (GST) will pan out from July 1, its launch date.

DHL says USD 100 million investment for GST solutions in India

Published on By prameya news7 (author)

Global logistics group DHL, with plans to invest USD 100 million in coming years, is working with its customers to prepare for the Goods and Services Tax (GST) being implemented next month. Well ahead of the curve, DHL is planning to invest over USD 100 million in its supply chain operations in India in the next 3 to 4 years to meet the expected increasing demand following the GST implementation.

‘IT industry to witness 7-8% growth in exports in FY18’

Published on By prameya news7 (author)

Notwithstanding the headwinds in form of delayed decision making due to macro-economic uncertainties, trade protectionism, visa issues, and slower growth in traditional services, the Indian information technology and business processing management (IT-BPM) industry is poised to witness a 7-8 per cent growth in its exports during FY18, with the domestic market expected to clock 10-11 per cent growth, according the the industry’s growth outlook released by lobby group Nasscom on Thursday.

Hasmukh Adhia vows soft touch at onset

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The goods and services tax (GST) Council might take a lenient view of minor compliance issues during the first six months after the new indirect tax regime is rolled out and refrain from slapping penalties on taxpayers, revenue secretary Hasmukh Adhia said on Thursday. However, he added that the soft approach would be restricted to “genuine cases” and based on the authenticity of the problems cited by the assessees in complying with the rules.

Manoj Sinha assures ‘corrective steps for orderly growth’

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Telecom minister Manoj Sinha on Thursday assured the telecom industry bigwigs that the government would take corrective steps to ensure orderly growth in the sector.

RBI inducts 3 more in oversight panel

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The Reserve Bank of India has expanded the overseeing committee (OC) by appointing three more members to the high-level panel which will vet stressed assets for resolution under the Insolvency and Bankruptcy Code, 2016 (IBC).

Insolvency: Banks to start action against 3 steel firms

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Banks have decided to initiate insolvency proceedings against three steel companies, including Essar Steel, at the National Company Law Tribunal (NCLT) following a directive from the Reserve Bank of India (RBI) under the Insolvency and Bankruptcy Code, 2016.

GST part of digitisation push, will broaden tax base: Urjit Patel

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Reserve Bank of India Governor Urjit Patel on Thursday said the goods and services tax (GST) will not only create a national market but will also broaden the tax base, which in turn will lower the overall taxes in the long-term. He also said he is not “overly pessimistic” about employment scenario in the IT sector, stating that mushrooming startups can compensate for job losses.