Users have faced issues with the Zerodha app as they flocked to the largest retail stockbroker to subscribe to IndiGo Paints IPO. Investors could not place their bids due to the outage and raised the issue on Twitter. According to the CEO, Kamnath, in an interview earlier this week, people were not getting subscriptions and that he believed was the demand for IPOs where oversubscriptions were happening to the tune of 100 times.
Jack Ma resurfaced after over two months out of public view while Chinese regulators ruined Ant’s $35 bn IPO, tightened regulations, ordered an overhaul and launched an antitrust probe into Alibaba. Ma participated in an online ceremony of Rural Teacher’s Initiative, his first after Oct 24 when he was last seen in public. While still unclear about where Ma was, Beijing pursued investigations into Ant and Alibaba Group Holding Ltd.
Turkey’s ICT Authority has imposed advertising bans on social media platforms Twitter, Periscope and Pinterest under a new digital media law, as per the decisions published in the country’s Official Gazette. The law, which experts believe will censor dissent, requires social media firms to appoint a local representative in the country. Facebook, on Monday, joined other firms by confirming that it will be appointing a representative in the country.
Snapdeal has been featured in the 2020 Review of Notorious Markets for Counterfeiting and Piracy issued by the Office of the US Trade Representative. It has to face the same accusations in July 2019 of criminal conduct in India for selling counterfeit products. The office has identified 39 online and 34 physical markets. 92% of counterfeit goods originate in China and Hong Kong, additional major points include India, Singapore, Thailand, Turkey, and the UAE.
Twitter and Facebook temporarily blocked the accounts of President Donald Trump, amid riots in the capital in which a woman lost life. Facebook has blocked Trump’s page from posting for 24 hrs, while Twitter locked @realDonaldTrump handle for 12 hrs and said that if tweets violating its policy are not removed, the account would remain locked. Pro-Trump protesters stormed the Capitol in an attempt to force Congress to block the appointment of President-elect Joe Biden.
USA President Donald Trump signed an executive order banning transactions with eight Chinese apps. The govt aims to curb the threat to Americans posed by Chinese apps having a large user base and access to sensitive data. The order affirmed that the US must take “aggressive action” against developers of Chinese apps to protect national security. The order bans Alipay, QQ Wallet, WeChat Pay, CamScanner, SHAREit, Tencent QQ, VMate and WPS Office.
8,927 hrs of Internet shutdowns cost India $2.8 bn and put her at the top of a list of 21 countries that curbed citizens’ web access in 2020. India, according to a released by Top10VPN, accounted for about 75% of the $4 bn lost worldwide to internet curbs as the losses more than doubled compared to 2019. China and North Korea were not included in the report as researchers relied on publicly available open-source information and documented internet and social media shutdowns.
The govt will announce Production Linked Incentive scheme for manufacturing of wearables, drones, VR/ AR and IoT products in India this year. At present, there is a demand for 2-3 bn IoT devices, which is expected to increase to 5 bn over the next two-three years. It is the government’s new initiative to boost manufacturing after the Rs 50,000-cr package to attract smartphone and component manufacturing firms to set up base here.