MPL Lays off 350 Employees After 28% GST Imposed on Online Gaming Published 10 hours ago

Posted By: Ajay Rawat Posted On: Aug 09, 2023

Skill gaming online sports platform Mobile Premier League laid off around 350 people, which also represents almost 50 per cent of its Indian workforce, an internal company mail said.

MPL Co-Founder Sai Srinivas informed their employees in a circular that it was confirmed last week that a 28 per cent GST will be levied on the full deposit value rather than on Gross Gaming Revenue.

“The new rules will increase our tax burden by as much as 350-400 per cent. As a business, one can prepare for a 50 per cent or even a 100 per cent increase, but adjusting to a sudden increase of this magnitude means we need to make some very tough decisions," PTI quoted Srinivas as saying.

“However, despite this, we will still have to reduce our people-related costs. Regrettably, we will have to let go of around 350 of you. This has been a heart-wrenching process because it impacts a lot of our friends and colleagues," he added.

The CEO also added that the company already initiated work on revisiting server and office infrastructure costs.

The decision was taken in order to cut down on expenses and bear the burden of an increased GST after the council decided to levy a 28 per cent GST on online gaming and casinos on the face value of bets at the entry-level, PTI reported.

In the ongoing monsoon session of the parliament, the government is likely to introduce amendments to the Central GST law, following which states will pass the amendments in their respective assemblies.

The revision in the la is likely to be introduced by October 1.

(With PTI inputs)

Source: News18
Related Posts: MPL,ONLINE GAMING

Comment on Post

Leave a comment

If you have a News HTS user account, your address will be used to display your profile picture.



India registers 108% surge in transactions for travel

Posted By: Jaydatt Chaudhary Posted On: Sep 17, 2023
BookMyShow (File image)

Consumers in India have begun to spend significantly on events, online home services and other such entertainment avenues on the back of growing demand for convenience, seamless accessibility of these services, increase in purchasing power and propensity to spend. According to insights from leading checkout network 'Simple', there has been a 108 per cent growth in transacting users for varied kinds of services in the first eight months of this year.

Between January-August, several consumers used Simpl's 1-tap checkout to access services from merchants such as BookMyShow (movies and events), My Jio (mobile recharge), DriveU (On-Demand driver services), Park+ (Fastag recharge) and NoBroker (Home services, packers & movers) among others, according to Simpl.

During the same time period, the services segment has witnessed a remarkable 59 per cent increase in total payments volume (TPV), signifying the increasing demand for services among Simpl's users. TPV is a crucial factor in determining the value of payments successfully completed through a checkout network, according to a statement shared by Simpl.

Notably, the demand for services category was led by millennials with an average age of 27 years who were responsible for 42 per cent of this demand. While metros cities are at the forefront of this trend, there is an increasing adoption in smaller cities, especially tier-3 and beyond where customers are increasingly adopting internet services made convenient via Simpl's 1-tap checkout.

"An increasing number of consumers today are resorting to online services for travel, entertainment, and other essential and leisure services and are accessing these seamlessly with Simpl's 1-tap checkout. Over the last eight months since January, we have witnessed a 108 per cent growth in transacting users across a plethora of services-based merchants, in a testament to growing affinity of consumers to seek convenience online,'' said Ashwini Ravindranath, Vice-President, Partner Success at Simpl.

‘'This, complemented with our 1-tap checkout, has played a pivotal role in enabling a seamless checkout experience with near zero transactions for millions of customers across the country,'' added Ravindranath.

Source: Live Mint
Related Posts: ONLINE TRANSACTIONS,BOOKMYSHOW,MYJIO APP,SIMPL,DRIVEU,NOBROKER,ONLINE PAYMENTS

Comment on Post

Leave a comment

If you have a News HTS user account, your address will be used to display your profile picture.



Apple asks employees to remain silent on radiation queries

Posted By: Jogendra Kumar Posted On: Sep 15, 2023
A man poses with an Apple iPhone 12 in a mobile phone store in Nantes, France (REUTERS)

Apple Inc found itself running into controversy as the French Government has claimed radiotion emission from their Apple iPhone 12 is beyond permissable limits. Latest reports have cited a directive by the tech giant instructing its tech support staff to avoid talking on the ‘radiation’ claim enquiries.

Apple Inc. has advised tech-support staff to not voluntarily provide any information when consumers ask about the Radiation claim issue.

If customers inquire about the French government's claim that the model exceeds standards for electromagnetic radiation, workers should say they don't have anything to share, Apple employees have been told, according to a Bloomberg report.

Staff should also reject customers' requests to return or exchange the phone unless it was purchased in the past two weeks — Apple's normal return policy.

Customers asking if the phone is safe should answer be told that all Apple products go through rigorous testing to ensure that they're safe, according to the guidance, reported by Bloomberg.

The French government asked Apple earlier this week to cease sales of the iPhone 12 because tests showed that the device emits electromagnetic waves that are too strong. The country's digital minister told Apple it has two weeks to fix the issue via a software update.

Apple rebutted the claims and said it would engage with France to show that the iPhone 12 is compliant. The Cupertino, California-based technology giant said it provided officials with in-house and third-party lab testing to demonstrate that the product is within the legal range.

Apple was already phasing out the iPhone 12 just as the issue flared up. The model debuted in 2020, and Apple stopped selling it Tuesday with the announcement of the iPhone 15 line. But France's stance threatens to spark concern among the millions of existing iPhone 12 users. Apple sold more than 100 million units of the device within its first seven months on sale, according to Counterpoint Research.

In the days since France's initial statement, other countries in the European Union, including Belgium and Germany, have started to assess the iPhone 12's radiation levels.

(With inputs from Bloomberg)

Source: Live Mint
Related Posts: APPLE IPHONE 1,APPLE IPHONE 12 FRANCE,APPLE INPHONE 12 RADIATION,SHOULD YOU BUY APPLE IPHONE 1,FRENCH GOVERNMENT,APPLE,EMPLOYEES,IPHONE 12 RADIATION QUERIES,IPHONE 12 RADIATION

Comment on Post

Leave a comment

If you have a News HTS user account, your address will be used to display your profile picture.



SRK's 'Jawan' fever pulls Bengaluru WFH employee to open laptop during screening

Posted By: Preeti Dabar Posted On: Sep 09, 2023

Bollywood king and superstar Shah Rukh Khan's 'Jawan' -- that created a tornado in the cinema theatres -- is not only ruling the box office collections, but also the hearts of millions of his fans worldwide.

The Atlee directed movie and Anirudh Ravichander musical is being appreciated all across by the film critics who have given it about four stars rating and even calling it the best action movie of the year.

Considering the huge demand to watch the movie, everyone in the country and abroad is looking forward not to miss the opportunity to experience the magic created on the silver screen.

Now, with the work from home culture still prevalent in some firms, Shah Rukh Khan fans are leaving no stones behind to watch the movie, no matter what even if they have to work from theatres. A picture image has emerged online that is raising eyebrows is going viral on social media.

ALSO READ: Jawan Box Office collection: ₹200 crore in just 3 days; SRK's movie sells over 11 lakh tickets in advance booking

The image, shared by a Twitter (now X) user, showcases a person working on their laptop in a darkened movie theatre during a screening of Jawan.

The picture was taken by Neelangana Noopur who said it was taken at Inox Bengaluru and labelled it a ‘Peak Bengaluru' moment. While sharing the pic, she wrote, “When Jawan first day is important but life is peak Bengaluru. Observed at Bangalore Inox. No emails or Teams sessions were harmed in taking this pic."

Source: Live Mint
Related Posts: JAWAN COLLECTION,JAWAN BOX OFFICE COLLECTION,SHAH RUKH KHAN JAWAN,BENGALURU WFH EMPLOYEE,ANIRUDH RAVICHANDER,JAWAN MUSIC,SOCIAL MEDIA,RED CHILLIES ENTERTAINMENT,VIJAY SETHUPATHI

Comment on Post

Leave a comment

If you have a News HTS user account, your address will be used to display your profile picture.



Anil Agarwal’s Vedanta to regain control over Zambian copper mines

Posted By: Ramesh Sharma Posted On: Sep 06, 2023
Anil Agarwal?s Vedanta Resources and ZCCM Investments Holdings have resolved their ownership disputes over a Zambian copper mine.

Anil Agarwal's Vedanta Resources Ltd. and Zambian government-owned ZCCM Investments Holdings Plc (ZCCM-IH) have resolved their disputes over a Zambian copper mining complex, Bloomberg reported.

The Zambian Konkola Copper Mines (KCM) were placed under provisional liquidation in 2019 by the former Zambian President Edgar Lungu's administration, who accused Vedanta of dishonesty about expansion plans and tax payments, initiating a series of legal battles. President Hakainde Hichilema, Lungu's successor, ended a four-year legal battle over its ownership.

Also read: Vedanta's Anil Agarwal agrees to pay Zambian creditors, says ?money will never be a constraint?

In a statement on September 5, ZCCM-IH stated, “All disputes between the parties have been resolved and all proceedings relating to the disputes will be withdrawn with each party bearing their own costs." The statement further added, "KCM board will be reinstated, and Vedanta Resources Ltd. will return to its previous role as the majority shareholder of KCM."

The resolution is a significant victory for Agarwal, who has been battling to regain control of Konkola. It could also prove beneficial for the Zambian government if Vedanta follows through on its commitment to invest $1 billion over five years to complete an expansion.

Also read: After Adani, OCCRP targets Vedanta, says company lobbied to weaken environmental laws during COVID-19 pandemic

The finalisation of this deal could contribute to the revival of Zambia's copper industry. Zambian government projects that copper output will reach a 14-year low in 2023. Hichilema's administration aims to achieve national production of 3 million tons annually by 2031, nearly quadrupling last year's production.

Before the liquidation process began, Vedanta held a 79.4% stake in Konkola, with ZCCM-IH owning the remainder. The transition period for Vedanta to assume operational control of Konkola is expected to take about three months, according to ZCCM-IH Chairman Kakenenwa Muyangwa.

Zambian government will also re-establish its golden share in Konkola, granting it veto rights over the company, announced Zambian Mines Minister Paul Kabuswe as part of the deal. Kabuswe said, "History must not repeat itself" at Konkola, adding, “We want world-class standards."

(With inputs from Bloomberg)

Source: Live Mint
Related Posts: ANIL AGARWAL?,VEDANTA,STATE-OWNED ZCCM INVESTMENTS,STATE-OWNED,ZCCM INVESTMENTS,DISPUTE,ZAMBIAN COPPER MINES,ZAMBIAN MINES,ZAMBIAN COPPER MINING COMPLEX,VEDANTA RESOURCES LTD.

Comment on Post

Leave a comment

If you have a News HTS user account, your address will be used to display your profile picture.



NABARD Recruitment 2023

Posted By: Vishal Maurya Posted On: Sep 05, 2023

The National Bank for Agriculture and Rural Development (NABARD) has started the procedure to hire 150 Grade A assistant managers in the Rural Development Banking Service (RDBS). The application form is started and will conclude on September 23, 2023.

In 150 posts, there are some vacancies reserved for different positions that includes-

General: 77

Computer/ Information Technology: 40

Finance: 15

Company Secretary: 03

Electrical Engineering: 03

Civil Engineering: 03

Geo Informatics: 02

Food Processing: 02

Forestry: 02

Statistics: 02

Mass Communication/Media Specialist: 01

Eligible applicants are required to apply online through website, nabard.org. No other means of application will be accepted. The application form should be filled in English only. Option for the use of Hindi language will be available for the Online/Main Examination/ Interview.

Step 1- Visit the official website, nabard.org

Step 2- On the homepage look for careers options.

Step 3- Click on the option “APPLY HERE" which will open a new screen.

Step 4- To register application, choose the tab “Click here for New Registration" and enter name, contact details and email-id

Step 5- Candidates are advised to carefully fill and verify the details filled in the online application themselves as no change will be possible after clicking the final submit button.

Step 6- Click on the Preview Tab to preview and verify the entire application form before submission.

Step 7- Click on ‘Payment' Tab and proceed for payment

Step 8- Click on ‘Submit' button.

The candidate must be between 21 and 30 years of age as on 01-09-2023, i.e., the candidate must have been born not earlier than 02-09-1993 and not later than 01-09-2002. All NABARD employees satisfying the educational qualification criteria would be eligible to apply.

Selection of the candidate will depend on three phases.

A non-refundable amount of Rs 650 will be charged from every candidate except SC/ ST/ PWBD. An amount of Rs 150 will be charged as an intimation fee from every candidate.

Selected candidates will draw a starting basic pay of Rs.44,500/- p.m. in the scale of Rs. 44500 – 2500 (4) – 54500 – 2850 (7) – 74450 – EB – 2850 (4) – 85850 – 3300 (1) – 89150 (17 Years) applicable to Officers in Grade ‘A' and they will be eligible for dearness allowance, local compensatory allowance, house rent allowance, and grade allowance as per rules in force from time to time. At present, initial monthly gross emoluments are approximately Rs. 1,00,000/.

Source: News18
Related Posts: EMPLOYMENT NEWS,NABARD

Comment on Post

Leave a comment

If you have a News HTS user account, your address will be used to display your profile picture.



Kamal Nath slams Amit Shah's silence over vandalisation of Botad Hanuman idol

Posted By: Tarun Kumar Posted On: Sep 05, 2023
Kamal Nath

Former Madhya Pradesh Chief Minister and Congress leader Kamal Nath criticized Union Home Minister Amit Shah on Tuesday for his silence regarding the recent desecration of the Hanuman statue in Botad, Gujarat, which occurred earlier this week.

"Home Minister Amit Shah is arriving for an election tour in Madhya Pradesh today (Tuesday), the worship day of Lord Bajrangbali. The idol of Lord Bajrangbali was vandalized in the Botad district of Gujarat. The Deity of God has been smeared with soot. This is the same Hanuman temple that you inaugurated in April. Four days have passed since the incident, but till now you have not uttered a word from your mouth," wrote Kamal Nath on X.

Source: Live Mint
Related Posts: MP,KAMAL NATH,HANUMAN IDOL VANDALISATION,MADHYA PRADESH NEWS,CONGRESS,BJP,INDIA,KASHTABHANJAN HANUMAN TEMPLE

Comment on Post

Leave a comment

If you have a News HTS user account, your address will be used to display your profile picture.



Elon Musk's X is reportedly getting sued by former employees

Posted By: Jaydatt Chaudhary Posted On: Sep 01, 2023
FILE - Tesla and SpaceX CEO Elon Musk speaks at the SATELLITE Conference and Exhibition, March 9, 2020, in Washington. Musk said Thursday, Aug. 31, 2023, that his social network X, formerly known as Twitter, will give users the ability to make voice and video calls on the platform. (AP Photo/Susan Walsh, File) (AP)

Social media giant X (formerly Twitter), led by billionaire Elon Musk, is facing 2,200 arbitration claims from former employees of the company.

According to a CNBC report citing court records, the case is Chris Woodfield v. Twitter, X Corp. and Elon Musk (No. 1:23-cv-780-CFC).

Woodfield, a former senior network engineer at Twitter, worked out of the company's Seattle office. He claims the social media giant promised and then failed to pay his severance, and even delayed alternative dispute resolution by failing to pay the fees required for the JAMS arbitration system.

Lawyers for X have argued that the company didn't require these employees to resolve issues through arbitration, and therefore shouldn't be forced to pay a large portion of the filing fees. Meanwhile, Woodfield and other former employees are trying to get out of arbitration and take their cases to court, CNBC reported.

According to the JAMS website, the filing fee for two-party matters is $2,000, while for matters based on a clause or agreement that is a condition of employment, employees are only required to pay $400.

Given that JAMS has decided to apply its base fees to the 2,200 arbitrations against X, this would mean a whopping $3.5 million in filing fees alone, with other fees likely to follow.

The report noted that similar to the Woodfield case, X Corp is being sued with a class action filed in a San Francisco federal court, the case is Ma v. Twitter, in the Northern District of California (No. 3:23-cv-3301).

Former Twitter employees allege that X/Twitter delayed at least 891 arbitration cases by failing to pay the required filing fees after forcing them to agree to arbitrate their disputes in exchange for severance pay.

More recently, the US Department of Justice sued another Elon Musk-led company, SpaceX, for alleged hiring discrimination against refugees and people seeking or who have been granted asylum.

Source: Live Mint
Related Posts: ELON MUSK,ELON MUSK TWITTER,ELON MUSK X,TWITTER EMPLOYEES,TWITTER ELON MUSK LAWSUIT,TWITTER NEWS

Comment on Post

Leave a comment

If you have a News HTS user account, your address will be used to display your profile picture.

POPULAR News

icon
Bussiness Petrol and diesel prices In India remained stagnant on Thursday, continuing the year long price stability, that has been seen since May 21 last year, when the previous pan-India revision to fuel rates was carried out. Prices across major cities including New Delhi, Kolkata, Mumbai, Chennai did not r
icon
Bussiness Stocks to Watch: Nifty futures traded 26 points, or 0.13 per cent, higher at 19,816, signaling that Dalal Street was headed for a positive start on Monday. Here's a slew of stocks that will be in focus today for various reasons. Stocks to Watch: Nifty futures traded 26 points, or 0.13 per cent, higher at 1
icon
Bussiness OMG 2, directed by Amit Rai, received a warm welcome from the audience. The film, featuring Pankaj Tripathi, Akshay Kumar, and Yami Gautam, achieved a strong opening at the domestic box office on its first day of release. OMG 2, directed by Amit Rai, received a warm welcome from the audience. The film, f
icon
Bussiness Power trading solutions provider PTC India on Saturday posted a 5.62 per cent year-on-year rise in its consolidated net profit at ₹142.70 crore for the April-June quarter of this fiscal, mainly on the back of higher revenues. Power trading solutions provider PTC India on Saturday posted a 5.62 per ce
icon
Bussiness As the deadline for filing Income Tax Returns (ITR) is just one day away, the department stated that more than 6 crore tax returns have been filed for income earned in the 2022-23 fiscal year as of Sunday evening. A total of 27 lakh ITRs have been received by the income tax department, number which has surp
icon
Bussiness Petrol, and Diesel Prices on August 10: The price of Petrol and Diesel remained constant on Wednesday, August 10 across major cities like New Delhi, Kolkata, Mumbai, and Chennai. The petrol and diesel rates for each day, whether new or constant, are announced at 6 am on the day. These, however, vary fro
icon
Bussiness RBI MPC Meeting 2023 Live Updates: Will Guv Das Hike Repo Rate Or Leave it Unchanged? Updated 1 hour ago
icon
Bussiness LPG Cylinder Rates: Oil marketing companies have cut the price of 19 kg LPG gas cylinders across the country. There has been a reduction of Rs 100 in Delhi. At the same time, a reduction of around Rs 93 has been made in other metros. Now 19 kg cylinder will be available in Delhi for Rs 1680, which was till now a
icon
Bussiness Petrol, and Diesel Prices on July 31: The price of Petrol and Diesel remained constant on Monday, July 31 across major cities like New Delhi, Kolkata, Mumbai, and Chennai. The petrol and diesel rates for each day, whether new or constant, are announced at 6 am on the day. These, however, vary from state t
icon
Bussiness Balrampur Chini Mills posted strong Q1 results on Saturday as their profit jumped a whopping 493% to touch ₹73.5 crore during the quarter ending June 2023. During the same quarter last fiscal, the company posted consolidated net profit of ₹12.38 crore. The revenue of the company rose 28% from ₹1,094.
icon
Bussiness The price of gold marginally dropped on Thursday, with the cost of 1 gram of 22 carat gold declining to ₹5,495 from yesterday's ₹5,505, as per the figures released by Goodreturns. Accordingly, the price of 8 grams of 22 carat gold also decreased to ₹43,960 from the previous figure of ₹44,040, marking a p
icon
Bussiness Reliance Industries Ltd, India's most valuable company, has sought shareholder's approval to give Mukesh Ambani another five-year term as chairman and managing director of the company till 2029 -- a period during which he has opted to draw nil salary.
icon
Bussiness Go First airline, which has been grounded since early May, has announced a further extension of flight cancellations till July 31, the airline announced in a tweet on Sunday. Go First airline, which has been grounded since early May, has announced a further extension of flight cancellations till Jul
icon
Bussiness In order to settle the pending contractual disputes of government and government undertakings, the finance ministry has launched the ‘Vivad se Vishwas II – (Contractual Disputes)' scheme, according to an official statement released on Wednesday. Finance Minister Nirmala Sitharam announced th
icon
Bussiness IT electronics refurbishing firm NewJaisa Technologies's initial public offering (IPO) will be open for subscription on Monday, i.e September 25. The company aims to raise ₹39.93 crore through its IPO. The issue will close for subscription on September 27. The company's IPO had opened for anchor investors on Friday. The fresh issue size is of 84,96,000 equity shares at face value of ₹5 each.
icon
Bussiness The Reserve Bank of India (RBI) has announced the launch of the Pilot Project for Public Tech Platform for Frictionless Credit by Reserve Bank Innovation Hub (RBIH), a wholly-owned subsidiary of the RBI. The Reserve Bank of India (RBI) has announced the launch of the Pilot Project for Public Tech Platform for Frictionless Credit by Reserve Bank Innovation Hub (RBIH), a wholly-owned subsidiary of the RBI.
icon
Bussiness Gogoro In, a global technology leader in battery-swapping ecosystems that enable sustainable mobility solutions for cities, today announced a vehicle partnership with Swiggy, India’s leading on-demand convenience delivery platform. Gogoro In, a global technology leader in battery-swapping ecosystems that enable sustainable mobility solutions for cities, today announced a vehicle partnership with Swiggy, India’s leading on-demand convenience delivery platform.
icon
World Ukrainian President Volodymyr Zelensky arrived in the Netherlands on Sunday aiming to strengthen his country's air power, a day after a “heinous" Russian missile strike killed seven people and wounded 148 in Chernihiv. Ukrainian President Volodymyr Zelensky arrived in the Netherlands on Sunday aiming to strengthen his country's air power, a day after a “heinous" Russian missile strike killed seven people and wounded 148 in Chernihiv.
icon
Bussiness India's foreign exchange reserves jumped $708 million to $602.161 billion for the week ended August 11, the Reserve Bank of India (RBI) said on Friday. This is the first increase in the kitty after declining for three consecutive weeks. In the previous reporting week, the overall reserves had declined $2.417 billion to $601.453 billion.
icon
World China has released a new documentary about the army's preparation to attack Taiwan and showcasing soldiers pledging to give up their lives if needed as Beijing continues to ramp up its rhetoric against the self-ruled island. China has released a new documentary about the army's preparation to attac
icon
Life Style Disha Patani went out for a dinner date with her friends last night. The actor got clicked by the paparazzi outside a restaurant in Mumbai. Known for embracing risqué fashion statements, Disha slayed another look for the outing. She wore a golden mini dress featuring intricately-placed cut-outs. Sc
icon
Latest News Sunny Deol's Gadar 2 craze has truly gripped the nation with fans thronging to cinema halls in large numbers. The Anil Sharma directorial also managed to collect around Rs 39 crore on the day of the release, making it the second highest grosser of the year after Pathaan. Celebrating this tremendous res
icon
Latest News The incident took place on Sunday at the Hawthorne Race Course in Illinois. The incident took place on Sunday at the Hawthorne Race Course in Illinois. The incident took place on Sunday at the Hawthorne Race Course in Illinois. The incident took place on Sunday at the Hawthorne Race Course in Illinois.
icon
Latest News NEW DELHI: Union minister Jitendra Singh on Saturday said, BRICS (Brazil, Russia, India, China and South Africa) should continue to hold global significance for being the most populated marketplace, driven by the knowledge, creativity and innovation economy.
icon
Technology The approach of Digital Public Infrastructure, which has gained global prominence, can also help in the area of climate adaptation and mitigation going forward, Chairman and Co-Founder of Infosys and the founding Chairman of UIDAI, Nandan Nilekani said on Sunday.