Business News

Diamond prices decline in June: Rapaport Study

New York, July 9 - Diamond prices continued to soften in the month June with many categories trading at deep discounts to the Rapaport Price List.

Markets were relatively quiet as U. S. demand after the JCK Las Vegas show was weaker than in previous years, and Far East demand remains cautious. Diamond manufacturers are under pressure and continue to lose money on their rough supply.

The RapNet Diamond Index (RAPIa,¢) for 1-carat laboratory-graded diamonds fell 0.9 percent during June. RAPI for 0.30-carat diamonds declined 2.5 percent and RAPI for 0.50-carat diamonds dropped 2.6 percent. RAPI for 3- carat diamonds decreased 1.7 percent.

RAPI for 1-carat diamonds fell 1.6 percent during the second quarter of 2015 and on July 1, 2015 was down 15.3 percent from a year earlier.

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32 GB variant of Google Nexus 6 available for Rs. 29,999 on Flipkart

Washington, July 3 : The 32 GB variant of Google Nexus 6 is available on Flipkart for as low as Rs 29,999.

According to the, even if one does not want to avail the exchange offer, then also Flipkart is retailing Google Nexus 6 (32GB) at a price of Rs. 34,999. Also, the users can take home the 64GB variant for Rs. 39,999 without exchange offer and for Rs 34,999 under exchange offer.

Google Nexus 6 was released in the Indian markets last year and was launched at a price of Rs 44,000 for the 32GB, while the 64GB variant was available for Rs. 49,000.

The Google Nexus 6 comes with a 5.96-inch QHD AMOLED display. It is powered by a 2.7GHz Snapdragon 805 quad-core processor along with 3GB of RAM. The storage is non expandable.

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'Diverse' Twitter has mere 49 African Americans employees out of 2,910

Washington DC, 2 July : Companies like Twitter though claim to pledge diversity, have only a mere number of African Americans employees, and exploit the large base of minority users for ad revenue, claimed Rev Jesse Jackson.

President of the Rainbow/Push Coalition, who has campaigned for tech companies to be more transparent about their lack of minority employees, told the Guardian that black people were "becoming intolerant" of Facebook and other Silicon Valley companies' lack of progress in making their offices more diverse.

Twitter's vice-president of diversity and inclusion, Janet Van Huysse, had made promises to "build a Twitter we can be proud of" last year, saying that they were committed to make inclusiveness a cornerstone of their culture.

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Uber acquires assets of Microsoft Bing's Mapping tech

Washington, June 30 : Uber has announced that it is acquiring assets from Microsoft Bing, including around 100 data-collection engineers focused on the Bings's image collection activities.

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Greece tourism takes a hit amidst fears of possible 'Grexit'

Washington, D. C., June 30 - Greece's tourism industry has taken a hit as uncertainly looms large over the country's future in the eurozone.

Chris Wright, the manager director of British travel agency Sunvil Group, said that there was no doubt that bookings had slowed down the last few days. He added that bookings were being made but not at the rate as one would expect at this time of the year, reported the CNN.

Euromonitor International has predicted a modest international arrival growth of three percent in 2015 as opposed to a record 23 percent boost last year.

Angelo Rossini, a travel analyst at Euromonitor said liquidity was a major threat that was deterring tourists in Greece.

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Greece shuts banks amidst fears of possible exit from eurozone

Washington D. C., June 29 - Greece has reportedly shut its banks for six business days, starting Monday, with strict limits on ATM withdrawals, amidst a rising concern over the country's economic future.

The country's stock exchange has also been shut as part of the stringent measures announced on Sunday as a possible Greek exit from the eurozone loomed large, reported The Washington Post.

The move indicated that the country's five-year long battle to stay in the eurozone could come to an end swiftly, even as leaders elsewhere called for a way to avoid that.

The crisis worsened after Greece decided to pull its negotiators out of bailout talks on Friday. The European Central Bank declared on Sunday that it will provide no new emergency support to Greek banks.

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Outdated fashion rules that men need to break

New York, June 27 - Stylish men are always in fashion but there are certain taboos that they need to break and throw the outdated fashion rules out of the window says fashion gurus.

Choosing an outfit that never goes out of fashion can be a difficult task and when it comes to men as they always opt for blue, but instead one should try out for white as it looks great any time, reported Business Insider.

"Always match belt with shoes" is an old male fashion mantra that men follow for every occasion, but in reality this works only with formal settings other-wise it may portray a person as particular or fussy.

Also, wearing socks with pants was once classy but now shoes without socks are in, unless it is a formal event.

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'7.5 percent not India's best potential for economic growth': Jaitley

New York, June 19 : Union Finance Minister Arun Jaitley has said that India's 7.5 percent economic growth rate is not its best potential growth rate and that there is restlessness in Prime Minister Narendra Modi-led NDA Government to further boost economic growth.

Jaitley said that a series of reforms aided by a lot of investment particularly in infrastructure, improvement in manufacturing, agriculture will help push up India's economic growth.

The Finance Minister predicted an eight percent growth this year.

"Nobody is very excited about a 7-7.5 percent growth rate in India because everybody realizes, including the Prime Minster that probably our potential is a little higher than that," Jaitley said.

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USIBC honours Jaitley in New York, looks forward to working with India Inc.

New York, June 19 - The U. S.-India Business Council (USIBC) has honoured Union Finance Minister Arun Jaitley at a reception in New York, with the association expressing its deep optimism in the bilateral economic relationship between New Delhi and Washington DC.

"One year in and Prime Minister Modi and his government have begun to get India on the front foot with lower inflation, a reduced deficit, higher levels of foreign direct investment, and more. Reforms once thought to be insurmountable are now on the table. Going forward, USIBC members want to help India do the things it needs to do to meet its growth targets: create jobs, boost manufacturing, build up infrastructure, and generate tourism," said USIBC chairman Ajay Banga.

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After black, now there's a 'red burger' by Japanese Burger King

Washington, June 18 : As if black wasn't a bit weird enough, Burger King Japan is now introducing a new burger in bright red color.

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Chandigarh-based start-up Jugnoo gets $5m to bring India's auto rickshaws online

Washington, June 7 - Chandigarh-based start-up "Jugnoo" has just received five million dollars to bring India's much in demand auto rickshaws online.

Jugnoo wants to make it easy for people to hail these auto rickshaws through their smart phones.

Jugnoo's business model is unique because it is tackling transportation and on-demand delivery at the same time.

Techcruch. com quoted founder Samar Singla, as saying that he hoped his company's double-pronged approach would set it apart from other auto rickshaw apps like mGaadi and PoochO, as well as taxi facilities like Uber and Ola, both of which recently added the three-wheeled vehicles to their services.

The app currently operates in Chandigarh, Ludhiana, Amritsar and Jaipur. Plans are afoot to expand to Gurgaon.

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Pakistan rules out sharing nukes with Saudis, anyone else

Washington : Pakistan ruled out sharing its nuclear weapons with Saudi Arabia, insisting Thursday that the atomic arsenal would continue serving solely for Pakistan's national defense even as world powers and Iran near a possible nuclear agreement.

Closing a wide-ranging trip to Washington, Foreign Secretary Aizaz Ahmad Chaudhry angrily rejected speculation that his country could sell or transfer nuclear arms or advanced technology as "unfounded and baseless."

Pakistan has long been among the world's greatest proliferation threats, having shared weapons technology with Iran, Libya and North Korea.

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Apple acquires augmented reality startup Metaio, says report

Washington, May 29 : Apple has reportedly acquired the augmented reality startup, Metaio, which was founded in 2003 as an offshoot of a project at Volkswagen.

TechCrunch claimed that the companya_Ts site had stopped taking new customers and cited a legal document, showing a transfer of the startupa_Ts shares to Apple on May 21.

On being asked about the acquisition, Apple stuck to its standard reply: a_oApple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans.a__

Metaio, too, refrained from commenting but canceled its user conference in San Francisco earlier this month and later took down the firma_Ts Twitter accounts. It also posted a message on its website, saying that it was ending purchase of products and subscriptions.

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Chinese business tycoon shells USD 100M to build 'Star Trek-like' offices

Washington, May 26 - A Chinese millionaire has spent a whopping 100 million dollars to create an office block just like ' Star Trek's USS Enterprise.

United States: 

Iran nuclear deal 'will have my name on it': Obama

Washington : President Barack Obama says he has a personal stake in making sure that a nuclear agreement with Iran delivers on its promise.

He says he will not accept a bad deal. He adds: "This deal will have my name on it."

Obama was speaking to Congregation Adas Israel in observance of Jewish American Heritage Month. The appearance coincides with Solidarity Shabbat, devoted to showing unity by political leaders in Europe and North America against anti-Semitism.

He sought to reassure the Jewish community that he shared Israel's commitment to Iran not obtaining a nuclear weapon.

But he says that doesn't mean there shouldn't be periodic disagreements between the governments of the US and Israel.

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