Loans get more expesive, India's largest bank, the State Bank of India (SBI) raised its benchmark lending rates by up to 50 basis points (or 0.5 per cent), a move that will lead to an increase in EMIs for borrowers.
The increase in lending rate comes days after the Reserve Bank of India hiked its benchmark lending rate by 50 basis points to tame inflation.
External Benchmark based Lending Rate (EBLR) and Repo-Linked Lending Rate (RLLR) have been raised by 50 basis points while the hike in Marginal Cost of funds-based Lending Rate (MCLR) is 20 basis points across all tenure.
The revised rates are effective from August 15, as per the information posted on SBI website.
SBI's EBLR rose to 8.05 per cent and RLLR increased by similar 50 basis points to 7.65 per cent.
Banks add Credit Risk Premium (CRP) over the EBLR and RLLR while giving any kind of loan, including housing and auto loans.
With the revision, one-year MCLR has increased to 7.70 per cent, from the earlier 7.50 per cent, while for two years it rose to 7.90 per cent and for three years to 8 per cent.
Most of the loans are linked to the one-year MCLR rate.The overnight to three-month SBI MCLR rate has been hiked to 7.35%, from 7.15%. The SBI six-month MCLR goes up to 7.65% from 7.45%, one-year to 7.7%, from 7.5%, two-year to 7.9% from 7.7% and three-year to 8% from 7.8%.
With the increase in lending rate, EMIs will go up for those borrowers who have availed loans on MCLR, EBLR or RLLR.
From October 1, 2019, all banks including SBI have migrated to an interest rate linked to an external benchmark such as RBI's repo rate or Treasury Bill yield. As a result, monetary policy transmission by banks has gained traction. 

SBI MCLR Rates : EMIs start to shoot up: SBI raises lending rates, here are the new rates

Calculate your EMI: SBI raises rates once again

Second rate hike from SBI in a month

The SBI six-month MCLR goes up to 7.65% from 7.45%, one-year to 7.7%, from 7.5%, two-year to 7.9% from 7.7% and three-year to 8% from 7.8%.

Loans get more expensive, India's largest bank, the State Bank of India (SBI) raised its benchmark lending rates by up to 50 basis points (or 0.5 per cent), a move that will lead to an increase in EMIs for borrowers.
The increase in lending rate comes days after the Reserve <a href="https://www.editorji.com/business-news/bank-of-england-warns-uk-to-fall-into-recession-this-year-amid-this-reason-1659670255508">Bank </a>of India hiked its benchmark lending rate by 50 basis points to tame inflation.
External Benchmark based Lending Rate (EBLR) and Repo-Linked Lending Rate (RLLR) have been raised by 50 basis points while the hike in Marginal Cost of funds-based Lending Rate (MCLR) is 20 basis points across all tenure.
The revised rates are effective from August 15, as per the information posted on SBI website.
SBI's EBLR rose to 8.05 per cent and RLLR increased by similar 50 basis points to 7.65 per cent.
Banks add Credit Risk Premium (CRP) over the EBLR and RLLR while giving any kind of loan, including housing and auto loans.
With the revision, one-year <a href="https://www.editorji.com/story/sbi-reduces-mclr-loans-to-get-cheaper-1581057452329">MCLR </a>has increased to 7.70 per cent, from the earlier 7.50 per cent, while for two years it rose to 7.90 per cent and for three years to 8 per cent.
Most of the loans are linked to the one-year MCLR rate. The overnight to three-month SBI MCLR rate has been hiked to 7.35%, from 7.15%. The SBI six-month MCLR goes up to 7.65% from 7.45%, one-year to 7.7%, from 7.5%, two-year to 7.9% from 7.7% and three-year to 8% from 7.8%.
With the increase in lending rate, EMIs will go up for those borrowers who have availed loans on MCLR, EBLR or RLLR.
<a href="https://www.editorji.com/business-news/personal-finance/sbi-hikes-rates-loans-emis-get-more-expensive-1650259103266">SBI hikes rates, loans &amp; EMIs get more expensive</a>
From October 1, 2019, all banks including <a href="https://www.editorji.com/business-news/personal-finance/sbi-hikes-rates-loans-emis-get-more-expensive-1650259103266">SBI</a> have migrated to an interest rate linked to an external benchmark such as RBI's repo rate or Treasury Bill yield. As a result, monetary policy transmission by banks has gained traction.&nbsp;

A sudden lockdown at an Ikea store in Shanghai over the weekend unleashed a chaotic scene after city health authorities ordered the store to lock down after a close contact of a Covid-19 case was traced to the location.Videos on social media howed customers yelling and pushing each other in an attempt to escape the building before the doors closed.In a statement released, the Shanghai Health Commission said a 6-year-old boy tested positive for the coronavirus and was in close contact with multiple people who went to Ikea in the city’s Xuhui districtOn Monday, the city of 25 million recorded six positive coronavirus cases, five of which were asymptomatic. More than 400 close contacts to the 6-year-old boy were identified; 80,000 people loosely connected to the child were ordered to take PCR tests.Shanghai, China's financial capital has followed a 'zero-covid' policy which has led to rapid and prolonged lockdowns.

Watch: Shoppers rush for exits as Shanghai Ikea goes into lockdown

Six covid cases create choas in China. Watch viral video of customers in panic as Ikea Shanghai does into lockdown

Viral Video: Ikea Shanghai lockdown, customers rush to exit

Multiple videos on social media showed customers yelling and pushing each other in an attempt to escape the building before the doors closed.

A sudden lockdown at an Ikea store in Shanghai over the weekend unleashed a chaotic scene after city health authorities ordered the store to lock down after a close contact of a<a href="https://www.editorji.com/coronavirus"> Covid-19</a> case was traced to the location. Videos on social media showed customers yelling and pushing each other in an attempt to escape the building before the doors closed. In a statement released, the Shanghai <a href="https://www.editorji.com/world-news/renaming-monkeypox-who-creates-open-forum-invites-public-feedback-after-stigmatisation-concerns-1660469350384">Health Commission </a>said a 6-year-old boy tested positive for the coronavirus and was in close contact with multiple people who went to Ikea in the city&rsquo;s Xuhui district
<a href="editorji.com/world-news/shanghai-china-s-largest-city-savours-easing-up-of-covid-19-curbs-1654061615568">Shanghai: China's largest city savours easing up of Covid-19 curbs</a> On Monday, the city of 25 million recorded six positive coronavirus cases, five of which were asymptomatic. More than 400 close contacts to the 6-year-old boy were identified; 80,000 people loosely connected to the child were ordered to take PCR tests. <a href="https://www.editorji.com/partner/dw/shanghai-officials-push-tcm-drug-amid-covid-surge-1651144508321">Shanghai</a>, China's financial capital has followed a 'zero-covid' policy which has led to rapid and prolonged lockdowns.

In the latest news from the IPO corner, Syrma SGS a technology-focussed engineering and design company is ready to test its fate with investors. Here is all you need to know 

IPO Opens: August 12 
IPO Closes: August 18
IPO Price: Rs 209 to Rs 220
Grey Market Premium: Rs 30/share (as per reports)

The initial public offering comprises fresh issuance of shares worth Rs 766 crore, and an offer for sale of 33.69 lakh equity shares by promoter Veena Kumari Tandon.Chennai-based engineering and design company Syrma SGS Tech is engaged in turnkey electronics manufacturing services (EMS), specialising in precision manufacturing for diverse end-use industries.As per the DRHP the company provided products to over 200 customers of which 16 customers have been associated with the company for more than 10 years. Some of the key names in the client roster include TVS Motor Company, Eureka Forbes, Atomberg Technologies, Hindustan Unilever, and Total Power Europe B.V.

IPO watch: Syrma SGS Technology IPO, dates to GMP everything you need to know

After over 2 months of an IPO drought, Syrma SGS Technology tests the markets' mettle. Here is all you need to know about the IPO 

First IPO to hit Dalal Street after two and a half months&nbsp;

In the latest news from the IPO corner, Syrma SGS a technology-focused engineering and design company is ready to test its fate with investors. Here is all you need to know&nbsp;
<ul>
<li>IPO Opens: August 12 </li>
<li>IPO Closes: August 18</li>
<li>IPO Price: Rs 209 to Rs 220</li>
<li>Grey Market Premium: Rs 30/share (as per reports)</li>
</ul>
The initial public offering comprises fresh issuance of shares worth Rs 766 crore, and an offer for sale of 33.69 lakh equity shares by promoter Veena Kumari Tandon. Chennai-based engineering and design company Syrma SGS Tech is engaged in turnkey electronics manufacturing services (EMS), specialising in precision manufacturing for diverse end-use industries. As per the DRHP the company provided products to over 200 customers of which 16 customers have been associated with the company for more than 10 years. Some of the key names in the client roster include TVS Motor Company, Eureka Forbes, Atomberg Technologies, Hindustan Unilever, and Total Power Europe B.V.

As the future of Twitter is at stake, the social media giant said the notion Elon Musk was "hoodwinked" into inking a $44 billion buyout deal defies reason and the facts.
In a filing, Twitter rejected counter claims made by Musk as he fights to walk away from the deal he inked in April to buy the San Francisco-based company.
The company accused Musk of contriving a story to escape a merger agreement that he no longer found attractive.
The Tesla boss wooed Twitter's board with a $54.20 per-share offer, but then in July announced he was ending their agreement because the firm had misled him regarding its tally of fake and spam accounts. 

Elon Musk making up excuses to breach twitter deal? 

Twitter calls Musk’s reasoning “a story, imagined in an effort to escape a merger agreement that Musk no longer found attractive.”

Musk also accused Twitter of breaching their agreement by &ldquo;stonewalling&rdquo; his information requests

It is a battle of a bungled buyout, bots and with billions at stake. As the future of Twitter's sale remains in limbo, the social media giant dismissed the notion the world's richest man Elon Musk was "hoodwinked" into inking a $44 billion buyout deal.&nbsp;
In a filing, Twitter rejected counter claims made by Musk as he fights to walk away from the deal he inked in April. In a court filing, Twitter calls Musk&rsquo;s reasoning &ldquo;a story, imagined in an effort to escape a merger agreement that Musk no longer found attractive.&rdquo;
The Tesla boss wooed Twitter's board with a $54.20 per-share offer, but then in July announced he was ending their agreement because the firm had misled him regarding its tally of fake and spam accounts.&nbsp; The fate of that acquisition, which Musk agreed to without taking the time to examine the details of Twitter&rsquo;s business, now rests with a Delaware court where Twitter sued to force Musk to complete the deal. The case is scheduled to go to trial on October 17. &nbsp;

After partnership with luxury maisons like Valentino, Manish Malhotra and Abu Jani Sandeep Khosla, Mukesh Ambani-backed Reliance Industries is in another effort to make luxury fashion accessible by bringing Spanish luxury house Balenciaga to India by 2023. 
Reliance Brands Ltd (RBL), a unit of the conglomerate, said in a statement it would be Balenciaga's sole partner in India and this partnership will be RBL’s second with the parent group Kering, that houses Balenciaga. 
Founded by Spanish-born Cristóbal Balenciaga in 1917 and established in Paris in 1937, the original house of Balenciaga defined modern couture with its many innovations to form and technique. 

Reliance to bring Spanish luxury brand, Balenciaga to India by this year

Reliance to bring Spanish luxury brand Balenciaga to India

Get ready to shop at Balenciaga in India

Reliance has been on a dealmaking spree, signing franchise agreements with brands like Valentino, Gap and British coffee and sandwich chain Pret-A-Manager&nbsp;

The House of Ambani is adding one more luxury brand to it's offering. Mukesh Ambani-backed Reliance brands is bringing Spanish luxury house Balenciaga to India.&nbsp; Reliance Brands Ltd (RBL), a unit of the conglomerate, said in a statement it would be Balenciaga's sole partner in India and this partnership will be RBL&rsquo;s second with the parent group Kering, that houses Balenciaga.&nbsp;
Founded by Spanish-born Crist&oacute;bal Balenciaga in 1917 and established in Paris in 1937, the original house of Balenciaga defined modern couture with its many innovations to form and technique.&nbsp;
Reliance Brands Ltd(RBL) has a portfolio of brand partnerships with leading global brands, including Armani Exchange, Burberry, Canali, Coach, Diesel, Dune, Emporio Armani, Gas, Giorgio Armani, Hamleys, Hugo Boss, Jimmy Choo, Michael Kors, Versace, Villeroy &amp; Boch and West Elm.

Even though LIC shares could not give the returns as expected, but maybe this news might make investors feel better. 
Recently-listed Life Insurance Corporation (LIC) has broken into the latest Fortune Global 500 list, while Reliance Industries has jumped 51 places.
The nation's biggest life insurer with revenue of USD 97.26 billion and a profit of USD 553.8 million, was ranked 98th on the just released Fortune 500 list.LIC topped the list of companies from India, followed by eight other domestic firms. 
Reliance Industries jumped 51 places to 104 on the 2022 list.
Walmart landed at No. 1 for the ninth straight year, trailed by Amazon, which reached its highest ranking ever. 

LIC breaks to top-ranked Indian firm on Fortune Global 500 List

LIC breaks into Fortune 500 joining 8 other Indian firms. Reliance makes a huge leap

Indian Oil Corporation (IOC) rose 28 places to 142nd rank while Oil and Natural Gas Corporation (ONGC) climbed 16 places to 190

Even though LIC shares could not give the returns as expected, but maybe this news might make investors feel better.&nbsp;
Recently-listed Life <a href="https://www.editorji.com/business-news/lic-shares-hit-new-record-low-1654504813674">Insurance Corporation (LIC) </a>has broken into the latest Fortune Global 500 list, while Reliance Industries has jumped 51 places.
The nation's biggest life insurer with revenue of USD 97.26 billion and a profit of USD 553.8 million, was ranked 98th on the just released Fortune 500 list. LIC topped the list of companies from India, followed by eight other domestic firms.&nbsp;
Reliance Industries jumped 51 places to 104 on the 2022 list.
<a href="https://www.editorji.com/business-news/big-job-losses-walmart-lays-off-hundreds-slashes-profit-guidance-1659588670683">Walmart </a>landed at No. 1 for the ninth straight year, trailed by Amazon, which reached its highest ranking ever.&nbsp;

As 82-year-old Nancy Pelosi landed in Taiwan, it was not just the political onlookers that awaited what next from Beijing, the tension in the tech ecosystem escalated. Editorji explains why this 14,000-square-mile island is the epicenter of the global tech revolution. 
- Simply speaking it is the digital powerhouse of the U.S. with enormous manufacturing centers of China- Taiwan is the Silicon Valley of Asia, with a large focus on manufacturing and AI-  U.S. consumes more than $63 billion worth of Taiwanese tech exports - Taiwan Semiconductor Manufacturing Co. is one of the biggest chip foundries on the planet-  Taiwan accounts for more than 90% of the world’s most advanced chip manufacturing with South Korea at 8%, according to a report from the Semiconductor Industry Association and the Boston Consulting Group-  Most companies that design chips today — Qualcomm, Nvidia and Apple among them — don't actually do the manufacturing, instead relying on companies like TSMC.- If Taiwan's chip production were permanently disrupted, the Semiconductor Industry Association estimates it would take three years and $350 billion in investment to build enough capacity to replace it.- The island manufactures about 25–30% of integrated circuits (ICs) globally - Taiwan’s Foxconn, is the world’s largest contract electronics makes iphone and in contract with Google as well-  Big suppliers of liquid-crystal display panels- The island manufactures about 25–30% of integrated circuits (ICs) globally - No one knows for sure how much of China's exports in information and communications hardware are made in Taiwanese-owned factories, but the estimates run from 40% to 80%

Explained: Why Taiwan tensions is worrying the entire tech ecosystem?

Tensions around Taiwan on the rise, Editorji explains why this 14,000-square-mile island is critical to the global tech ecosystem from iPhones to AI. 

Taiwan, Tension & Tech

As 82-year-old Nancy Pelosi landed in Taiwan, it was not just the political onlookers that await the next move from Beijing, tech titans globally are watching with bated breath.&nbsp;

As 82-year-old <a href="https://www.editorji.com/world-news/us-house-speaker-nancy-pelosi-leaves-taiwan-after-a-high-tension-visit-1659536532607">Nancy Pelosi</a> landed in Taiwan, it was not just the political onlookers that await the next move from Beijing, tech titans globally are watching with bated breath.
US House Speaker Nancy Pelosi leaves Taiwan after a high-tension visit
Editorji explains why this 14,000-square-mile island is the epicenter of the global tech revolution.&nbsp;
<ul>
<li>Simply speaking it is the digital powerhouse of the U.S. with enormous manufacturing centers of China</li>
<li>Taiwan is the Silicon Valley of Asia, with a large focus on manufacturing and AI</li>
<li>U.S. consumes more than $63 billion worth of Taiwanese tech exports</li>
<li>Taiwan Semiconductor Manufacturing Co. is one of the biggest chip foundries on the planet</li>
<li>Taiwan accounts for more than 90% of the world&rsquo;s most advanced chip manufacturing with South Korea at 8%, according to a report from the Semiconductor Industry Association and the Boston Consulting Group</li>
<li>Most companies that design chips today &mdash; Qualcomm, Nvidia and Apple among them &mdash; don't actually do the manufacturing, instead relying on companies like Taiwan's TSMC&nbsp;</li>
<li>&nbsp;If Taiwan's chip production were permanently disrupted, the Semiconductor Industry Association estimates it would take three years and $350 billion in investment to build enough capacity to replace it.</li>
<li>The island manufactures about 25&ndash;30% of integrated circuits (ICs) globally</li>
<li>Taiwan&rsquo;s Foxconn, is the world&rsquo;s largest contract electronics makes iphone and in contract with Google as well</li>
<li>Globally big suppliers of liquid-crystal display panels</li>
<li>&nbsp;No one knows for sure how much of China's exports in information and communications hardware are made in Taiwanese-owned factories, but the estimates run from 40% to 80%.&nbsp;</li>
</ul>

Top 10 richest women in India: Kotak Private Banking and Hurun India launched the third edition of the Leading Wealthy Women List, based on the net worth of women as of December 31, 2021. Here's the list: 

List of Richest Women in India 2022 | Top 10 richest women in India |  India's Richest Women List

Do you know these top 10 wealthiest women of India?

Here's the list: 


List of Richest Women in India 2022

The cumulative wealth of the top 100 women in the list surged by 53% to ₹4,16,970 crore.

Top richest women of India : Kotak Private Banking and Hurun India launched the third edition of the Leading Wealthy Women List, based on the net worth of women as of December 31, 2021. Here's the list:&nbsp;
Roshni Nadar Malhotra, the recently appointed Chairperson of the INR 70,680 crore global technology company, HCL Technologies, ranks first on the Kotak Wealth Hurun - Leading Wealthy Women List 2020. The report estimates her wealth to be INR 54,850 crore.&nbsp;
Falguni Nayar, the founder and CEO of beauty e-commerce platform Nykaa overtook Kiran Mazumdar Shaw, Chairperson of Biocon, to become the richest self-made woman with a wealth of Rs. 57,520 crores.
Kiran Mazumdar-Shaw, Founder &amp; MD of Biocon, ranks second on the Kotak Wealth Hurun - Leading Wealthy Women List 2020. The report estimates her wealth to be INR 36,600 crore.
Leena Gandhi Tewari ranks third on the Kotak Wealth Hurun - Leading Wealthy Women List 2020. The report estimates her wealth to be INR 21,340 crore. Leena chairs privately-held USV, which is a pioneer in diabetic and cardiovascular medicines in India with growing traction in APIs and biosimilars among other medical solutions.&nbsp;
Nilima Motaparti For the past five years, as a director of Divi&rsquo;s Laboratories, Nilima oversaw all elements of Divi&rsquo;s Laboratories&rsquo; material sourcing and procurement, corporate finance, and investor relations. Her wealth surged by over 50 percent during the year.
Radha Vembu sister of Zoho founder Sridhar, ranks fifth on the Kotak Wealth Hurun - Leading Wealthy Women List 2020. Radha Vembu founded the tech company, Zoho Mail with her brother Sridhar Vembu and has been co-leading it since 2007. Based out of Chennai, this product manager of Zoho Mail, saw her wealth rise by 127 percent in one year.
<a href="https://www.editorji.com/business-news/pm-modi-to-launch-india-s-first-international-bullion-exchange-but-what-is-it-1659005075875" target="_blank" rel="nofollow noopener">PM Modi to launch India's first international bullion exchange but what is it?</a>
Jayshree Ullal Jayshree Ullal ranks sixth on the Kotak Wealth Hurun - Leading Wealthy Women List 2020. The report estimates her wealth to be INR 10,220 crore. London-born, Jayshree is the CEO of the fastest-growing cloud-networking company, Arista Networks, which is currently valued at USD 16 billion under her leadership.
Neha Narkhede, the co-founder, CTO and CPO,&nbsp;is the eighth richest new member in the list. In June 2021, Confluent&rsquo; valuation rose 25% on the NASDAQ, to hit $11.4 billion (₹84,930 crore), according to the report.&nbsp;
Vandana Lal, director at Dr Lal PathLabs is a new entrant to the top ten list. She is also the head of Dr Lal PathLabs&rsquo; research and development department with a wealth of Rs 6,810 crore.&nbsp;

Burberry has set an example for cultural representation in fashion as they recently chose to pick a four-year-old Sikh boy for their autumn winter '22 collection. 

Burberry casts 4-year-old patka-wearing model for autumn-winter '22 collection

A four-year-old Sikh boy has become the first patka-wearing model. Recently, Burberry shared the pictures of their autumn winter '22 collection and the little boy was featured in it. 

Burberry sets example for cultural representation in fashion!

British luxury brand Burberry chose to cast a 4-year-old Sikh boy for their autumn winter '22 collection and with this, they set an example for cultural representation.&nbsp;

Fashion is versatile, it can be revamped and customised but what is lacking is cultural representation. However, Burberry has now set an example as it showed diversity in its latest campaign.&nbsp;
The British luxury fashion house released pictures of its children's autumn-winter '22 collection. In the latest collection, they chose to cast a four-year-old boy Sahib Singh, and they made him the first patka-wearing model.
The images of the same were shared on the official Instagram account of Sahib Singh. In the caption, it was mentioned that "being part of the Burberry Bear autumn winter '22 campaign is incredible and to be the first patka wearing model for the biggest British brand is just an amazing achievement for our little 4-year-old and the Sikh community."
<h3>What is patka?&nbsp;</h3>
Patka holds traditional value as it is worn by Sikh boys before they start wearing the pagri, which is also known as a turban.&nbsp;
Burberry has been drawing praise on social media. Several users praised the brand for representing the Sikh community and promoting inclusivity and diversity.

RBI Governor salary 2022 : RTI response reveals that the RBI Governor Shaktikanta Das’ remuneration stood at Rs 2.5 lakh per month last year. RBI chief's salary is in-line with what the SBI Chairman earns which amounts to close to Rs 34 lakhs/years.

RBI Governor salary: RBI Governor's salary, the comparison with a bank CEO is shocking! 

Revealed: The RBI Governor's salary, the comparison with a bank CEO is shocking!

Payslip vs Payslip: Regulator vs Regulated

Right to Information (RTI) query response reveals how much RBI Governor earns&nbsp;

The top boss of Mint Street makes 40 times less than the bankers he regulates! An <a href="https://www.editorji.com/india-news/pm-cares-fund-can-t-be-under-rti-it-is-not-a-govt-trust-pmo-1632389522095" target="_blank" rel="nofollow noopener">Right to Information Act (RTI) </a>response reveals that the Reserve Bank of India (RBI) Governor Shaktikanta Das&rsquo; remuneration stood at Rs 2.5 lakh per month last year.&nbsp; Moneycontrol reports that the <a href="https://www.editorji.com/business-news/rbi-june-monetary-policy-factors-at-play-for-shaktikanta-das-1654078209537" target="_blank" rel="nofollow noopener">RBI </a>chief's salary is in-line with what the State Bank of India (SBI) Chairman earns which amounts to close to Rs 34 lakhs per year.&nbsp;
<a href="https://www.editorji.com/business-news/fed-rate-hike-to-massive-market-rally-all-that-happened-overnight-1658966796657" target="_blank" rel="nofollow noopener">Fed raises rates but Fed Chief Powell's comments power up the markets</a> The comparison with SBI Chairman may seem equitable but when the figure is pitched against the private bankers Das supervises and regulates the gap is shocking. The salaries of the top five private bank leaders ranged between 2.3 crore to Rs 7.1 crore per annum, including perks. Thus refelecting that they earn over 10 times what their counterpart at SBI or their regulatory supervisor earns.

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Pallonji Mistry Death News: Business tycoon Pallonji Mistry passes away at 93. The Indian-born Irish billionaire construction tycoon was the chairman of Shapoorji Pallonji Group. 

Pallonji Mistry Death News : Business tycoon Pallonji Mistry passes away at 93

Father of Cyrus Mistry, held  18% stake in Tata Sons
Pallonji Mistry was the largest individual shareholder of the Tata Group. He was also fondly  nickanmed "Phantom of Bombay House" by the Indian press.

Business tycoon Pallonji Mistry passes away at 93

He was awarded the Padma Bhushan in January 2016 by the Government of India for his contributions in the field of trade and industry.

Business tycoon Pallonji Mistry passes away at 93. The Indian-born Irish billionaire construction tycoon was the chairman of Shapoorji Pallonji Group.
Father of Cyrus Mistry, held &nbsp;18% stake in Tata Sons Pallonji Mistry was the largest individual shareholder of the Tata Group. He was also fondly &nbsp;nickanmed "Phantom of Bombay House" by the Indian press.
Pallonji Mistry as per the Bloomberg Billionaire Index is said to be worth over $28 billion.&nbsp;
He was awarded the Padma Bhushan in January 2016 by the Government of India for his contributions in the field of trade and industry.

Virat Kohli-backed Insurtech unicorn Digit Insurance has filed for an initial public offering for Rs 1,250 crore. 
According to reports, the IPO is likely to open after October 2022, in which shareholders will sell up to 109.4 million shares. 
The public offer makes Digit Insurance the second insurtech startup to go public after Policybazaar did so last year. 
About Digit Insurance Founde by Kamesh Goyal in 2017, the Bengaluru-based Digit Insurance began its journey to sell primarily motor and travel and property insurance a, turned unicorn last year.
Today, it offers insurance policies in multiple verticals and claims to have served over 20 million customers across the car, bike, health, and travel insurance segments.

Digit Insurance files for Rs 1,250Cr IPO

Canadian billionaire Prem Watsa and Virat Kohli are backing this IPO set to for a Diwali open

Virat Kohli backed Digit Insurance files for IPO

Digit Insurance would be eligible for going public post-October 2022

Virat Kohli-backed Insurtech unicorn Digit Insurance has filed its DRHP for an initial public offer as early as Diwali this year. According to reports, the IPO is likely to open after October 2022, in which shareholders will sell up to 109.4 million shares.&nbsp; The regulator Insurance Regulatory and Development Authority (IRDAI) mandates insurtech companies to be at least five years old before going public.
The public offer makes Digit Insurance the second insurtech startup to go public after Policybazaar did so last year.&nbsp;
About Digit Insurance&nbsp; Founde by Kamesh Goyal in 2017, the Bengaluru-based Digit Insurance began its journey to sell primarily motor and travel and property insurance. Currently, Go Digit Infoworks holds a majority stake in Digit Insurance. Shareholders of Go Digit Infoworks include Kamesh Goyal, Oben Ventures (Kamesh+Sameer Bakshi&rsquo;s company), and FAL Corporation (part of Prem Watsa's Fairfax Holdings).

The headline inflation may be easing for data watchers but for consumers the price rise is relentless. Milk price has been hiked by Rs 2/litre by Amul as well as Mother Dairy. With the Rs 2 hike, full cream milk in Ahmedabad, Delhi NCR, Kolkata and Mumbai metro markets will cost Rs 62 per litre, while toned milk will be sold at Rs 50 per litre. For Amul Shakti, customers have to pay Rs 56 per litre. This price hike is being done due to an increase in the overall cost of operation and production of milk. The cattle feeding cost alone has increased to approximately 20 per cent compared to last year, Amul said. "Considering the rise in input costs, our member unions have also increased farmers’ prices in the range of 8-9 per cent over the previous year," Amul said in a statement.This marks the 3rd big hike in prices in just under 1 year. 

Another spike in prices: Mother Dairy raises price of milk 

Another spike in prices: Amul, Mother Dairy raise the price of milk 

Milk price hike 

Amul has hiked milk prices by Rs 2 per litre. The new prices will be effective from August 17.

The headline inflation may be easing for data watchers but for consumers the price rise is relentless. Milk price has been hiked by Rs 2/litre by Amul as well as Mother Dairy.&nbsp; With the Rs 2 hike, full cream milk in Ahmedabad, Delhi NCR, Kolkata and Mumbai metro markets will cost Rs 62 per litre, while toned milk will be sold at Rs 50 per litre. For Amul Shakti, customers have to pay Rs 56 per litre.&nbsp; This price hike is being done due to an increase in the overall cost of operation and production of milk. The cattle feeding cost alone has increased to approximately 20 per cent compared to last year, Amul said. "Considering the rise in input costs, our member unions have also increased farmers&rsquo; prices in the range of 8-9 per cent over the previous year," Amul said in a statement. This marks the 3rd big hike in prices in just under 1 year.&nbsp;

Hours after an image of a cleaning brush hanging over Dominos pizza dough went viral, the pizza giant took to Twitter to assure customers that the case was being investigated. Dominos was trolled by netizens after the image reportedly from a Bengaluru showing cleaning mops and brushes hanging just above trays of pizza dough in the kitchen were posted. Also, clothes, reportedly belonging to the employees, are seen hanging on the wall above the trays.In response to the slamming on social media, Dominos who did not deny the authenticity of the image assured its customers that the chain upholds the "highest standards of hygiene and food safety."  "We follow exacting international protocols to guarantee the highest levels of hygienic practises and food safety. We will not tolerate any infractions of these operational guidelines. The incident that has come to our attention will be thoroughly investigated, and on the basis of the results, the proper measures will be implemented. Rest assured that we are still committed to taking all reasonable steps to ensure the safety and wellbeing of our clients "Dominos' statement reads.

Dominos response to viral mop over pizza dough photo

Pizza with a mop topping! No thank you says netizens, Dominos responds as photo goes viral

Dominos new mop topping?

Twitter user shared pictures on social media that he claims are from Domino&rsquo;s, Bengaluru

Hours after an image of a cleaning brush hanging over Dominos pizza dough went viral, the pizza giant took to Twitter to assure customers that the case was being investigated.&nbsp; Dominos was trolled by netizens after the image reportedly from a Bengaluru showing cleaning mops and brushes hanging just above trays of pizza dough in the kitchen were posted. Also, clothes, reportedly belonging to the employees, are seen hanging on the wall above the trays. In response to the slamming on social media, Dominos who did not deny the authenticity of the image assured its customers that the chain upholds the "highest standards of hygiene and food safety." &nbsp;"We follow exacting international protocols to guarantee the highest levels of hygienic practises and food safety. We will not tolerate any infractions of these operational guidelines. The incident that has come to our attention will be thoroughly investigated, and on the basis of the results, the proper measures will be implemented. Rest assured that we are still committed to taking all reasonable steps to ensure the safety and wellbeing of our clients "Dominos' statement reads.

It is definitely the final leg for Work From Home (WFH) era, with tech giants such as Apple also calling employees back to office as early as next month. The news marks the start of Apple’s much delayed hybrid work model, which was announced in June 2021.After delaying the deadline in May Apple has set a Sept. 5 deadline for corporate employees to be in the office at least three days a week. September also marks one of the heaviest months in the calendar for the Cupertino, California-based tech giant that is looking to launch the iPhone 14 at its next event. Below is the memo from Tim Cook to Apple employees as published by tech journals: 
Team,
The early ramp-in phase of our hybrid work pilot has been a great opportunity to come together, reconnect with our teams, and meet new colleagues in person. This has been a transition for many of us as we’ve navigated changing case rates in many parts of the world, so thank you for your teamwork and professionalism as we continue moving forward.
I’m writing to you today with two updates, one about changes we’re making to our hybrid pilot, the other about its timing.
When we announced the pilot a year ago, we said it would be a learning experience for us all. And we committed ourselves to adapting along the way to create a flexible environment that enables our teams to thrive. Based on the feedback and insights we’ve received from you and your managers, we are making the following adjustment:
Teams participating in the pilot will come to the office three days each week with Tuesday and Thursday as set days across the company, but now the third day you come in will be decided by your teams. Each team will work through the decision about which day is right for them, and you’ll hear from your leaders soon. As before, many employees will have the option of working remotely two days a week. Depending on your role, you will also have the option to work remotely for up to four weeks a year.
We are excited to move forward with the pilot and believe that this revised framework will enhance our ability to work flexibly, while preserving the in-person collaboration that is so essential to our culture. We also know that we still have a lot to learn. And we are committed to listening, adapting, and growing together in the weeks and months ahead.
In terms of timing, many locations around the world are in different phases and you will hear more details shortly. For Santa Clara Valley, we plan to begin our new adjusted pilot with all employees in the office three days beginning the week of September 5th.
In the near term, we will continue to navigate the pandemic together as the situation evolves. We are monitoring the data closely and you will continue to receive updates on health and safety protocols for your location as necessary from our COVID-19 Response Team. In the meantime, it’s encouraging that children under five years old are now eligible for vaccination in many countries, and I urge anyone who is able to get a vaccine or a booster to do so if you haven’t already.
As we continue on this journey, I want to say how grateful I am for everything you do. I’ve never been more excited about the opportunities that lie ahead, the impact we can have on the lives we touch, and the outstanding team that makes it all possible. I look forward to working with you to create a flexible environment at Apple where, together, we can make an even greater difference in the lives of our users around the world.
Tim


Back to office from September: Apple calls back employees

Apple logs out of WFH, calls employees back to work

Bye Bye WFH era! 

<div class="abstract-item-text__d2d4dde8">
Tim Cook: Teams participating in the pilot will come to the office three days each week with Tuesday and Thursday as set days across the company, but now the third day you come in will be decided by your teams.
</div>

It is definitely the final leg for Work From Home (WFH) era, with tech giants such as Apple also calling employees back to office as early as next month. The news marks the start of Apple&rsquo;s much delayed hybrid work model, which was announced in June 2021. After delaying the deadline in May Apple has set a Sept. 5 deadline for corporate employees to be in the office at least three days a week. September also marks one of the heaviest months in the calendar for the Cupertino, California-based tech giant that is looking to launch the iPhone 14 at its next event.&nbsp; Below is the memo from Tim Cook to Apple employees as published by tech journals:&nbsp; 
Team,
The early ramp-in phase of our hybrid work pilot has been a great opportunity to come together, reconnect with our teams, and meet new colleagues in person. This has been a transition for many of us as we&rsquo;ve navigated changing case rates in many parts of the world, so thank you for your teamwork and professionalism as we continue moving forward.
I&rsquo;m writing to you today with two updates, one about changes we&rsquo;re making to our hybrid pilot, the other about its timing.
When we announced the pilot a year ago, we said it would be a learning experience for us all. And we committed ourselves to adapting along the way to create a flexible environment that enables our teams to thrive. Based on the feedback and insights we&rsquo;ve received from you and your managers, we are making the following adjustment:
Teams participating in the pilot will come to the office three days each week with Tuesday and Thursday as set days across the company, but now the third day you come in will be decided by your teams. Each team will work through the decision about which day is right for them, and you&rsquo;ll hear from your leaders soon. As before, many employees will have the option of working remotely two days a week. Depending on your role, you will also have the option to work remotely for up to four weeks a year.
We are excited to move forward with the pilot and believe that this revised framework will enhance our ability to work flexibly, while preserving the in-person collaboration that is so essential to our culture. We also know that we still have a lot to learn. And we are committed to listening, adapting, and growing together in the weeks and months ahead.
In terms of timing, many locations around the world are in different phases and you will hear more details shortly. For Santa Clara Valley, we plan to begin our new adjusted pilot with all employees in the office three days beginning the week of September 5th.
In the near term, we will continue to navigate the pandemic together as the situation evolves. We are monitoring the data closely and you will continue to receive updates on health and safety protocols for your location as necessary from our COVID-19 Response Team. In the meantime, it&rsquo;s encouraging that children under five years old are now eligible for vaccination in many countries, and I urge anyone who is able to get a vaccine or a booster to do so if you haven&rsquo;t already.
As we continue on this journey, I want to say how grateful I am for everything you do. I&rsquo;ve never been more excited about the opportunities that lie ahead, the impact we can have on the lives we touch, and the outstanding team that makes it all possible. I look forward to working with you to create a flexible environment at Apple where, together, we can make an even greater difference in the lives of our users around the world.
Tim

Not even a month after tech giant google paused hiring to 'review headcount needs' reports suggest there is an overall examination of sales productivity and productivity which employees are fearing could be a precursor to layoffs.&nbsp;Business Insider reports that Google Cloud sales leadership threatened employees, saying there will be an "overall examination of sales productivity and productivity in general" and that if next quarter results "don't look up, there will be blood on the streetsGoogle CEO Sundar Pichai told his employees in an all hands meeting late last month that they needed to improve their focus and productivity due to fierce economic headwindsBut Google is not alone in facing what may even be a winter for the tech firms. Mark Zuckerberg, the CEO and founder of Facebook&rsquo;s parent company Meta, blamed &ldquo;one of the worst downturns that we&rsquo;ve seen in recent history&rdquo; for a series of cost-cutting measures, including a hiring freeze.Twitter CEO Parag Agrawal informed employees of the hiring pause in a message earlier this year, citing a recent lag on growth and revenue targets.

Big Layoffs coming? Google warns employees of 'blood on the street' 

Job search soon for google workers?

If third quarter results &ldquo;don&rsquo;t look up, [then] there will be blood on the streets,&rdquo; according to a message conveyed to the sales team as per reports

Not even a month after tech giant google paused hiring to 'review headcount needs' reports suggest there is an overall examination of sales productivity and productivity which employees are fearing could be a precursor to layoffs.&nbsp; Business Insider reports that Google Cloud sales leadership threatened employees, saying there will be an "overall examination of sales productivity and productivity in general" and that if next quarter results "don't look up, there will be blood on the streets Google CEO Sundar Pichai told his employees in an all hands meeting late last month that they needed to improve their focus and productivity due to fierce economic headwinds But Google is not alone in facing what may even be a winter for the tech firms. Mark Zuckerberg, the CEO and founder of Facebook&rsquo;s parent company Meta, blamed &ldquo;one of the worst downturns that we&rsquo;ve seen in recent history&rdquo; for a series of cost-cutting measures, including a hiring freeze. Twitter CEO Parag Agrawal informed employees of the hiring pause in a message earlier this year, citing a recent lag on growth and revenue targets.

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