China Slams India over regulatory crackdown on Xiaomi

Here are today’s top trending news from the world of technology and tech Business.

1)

China Slams India over regulatory crackdown on Xiaomi

Chinese state media The Global Times has slammed Indian tax authorities for raiding Xiaomi offices last week. The Global Times has said that it is premature to declare that the Indian government is conducting a witch hunt against the Chinese companies. However, it warned that the recent tax raid against Xiaomi should serve as a red flag for other Chinese companies operating in India. Last week, the tax enforcement agencies seized over Rs 5000 crore from the Chinese tech giant over tax evasion charges. Xiaomi’s officials claimed that the ED officials manhandled them while conducting the raids last week. But Indian tax authorities have flatly denied these allegations.

2)

Tinder app’s parent company sues Google over play store billing

The popular dating app`Tinder, which also has millions of Indian users, has used Google over the play store’s billing system. Tinder’s parent company has accused Google of forcing  it and other apps to use its own billing system. The popular dating app termed Google’s monopoly in the payment system as completely unfair. The company even said that Google has warned that its dating app will be removed from Play Store if it doesn’t comply with their rules. Notably, the Tinder app is immensely popular among the singles not only in India but across the world.

3)

Donald Trump’s lawsuit seeking to overturn Twitter ban has been dismissed     

A federal court in the U.S. has dismissed Trump’s lawsuit that sought to overturn Twitter’s permanent ban on the former American President. However, the Ex-US president is unlikely to see this judgement as a huge setback. Trump has already said that he has no plans to come back on Twitter and would rather stick to his own social media app Truth Social. Earlier this year, Trump became the first U.S. president to be permanently banned across all prominent social media platforms including Twitter, Facebook and Youtube. The former president was axed from these platforms following the unprecedented violence in Capitol Hill.

4)

Adar Poonawalla Requests Elon Musk for ‘make in India’ Tesla cars   

Adar Poonawalla, CEO and founder of Serum institute, has made a rather ambitious request to tech billionaire Elon Musk on Twitter. Poonawalla tweeted to Tesla boss that if he had second thoughts about buying Twitter then he could use the money for setting up a manufacturing plant in India. Poonawalla said to Musk that this will be among the investments he will ever make. Notably, Tesla already has a manufacturing plant in the neighboring country China but not India. The Indian government has already said that if Musk does set up a plant in India then it may reduce the heavy import duty on Tesla cars.

5) 

Foreign Investors have given a Thumbs Down to LIC IPO  

LIC’s IPO ended on Monday with domestic institutional and retail investors participating aggressively in the public issue. But the Foreign Institutional Investors (FIIS) sought to stay away from this much hyped up IPO. FIIs had put orders for only 2% of shares that were set aside for them. Analysts claim that FIIs lack of interest may be due to the ongoing meltdown across global stock markets and weak economic factors. Analysts also claim that FIIs may also be concerned about the recent weakening of Indian currency visa via the U.S. dollar.