Apple to start making iPhones in India, says state government
The Apple's representatives including Priya Balasubramaniam, VP iPhone operations, Ali Khanafer, head of government affairs, Dheeraj Chugh, director, iPhone operations, and Priyesh Povanna, country counsel held a meeting with officials and ministers of the state government to discuss about the initiatives in manufacturing and possible collaborations.
"Apple's intentions to manufacture in Bengaluru will foster cutting edge technology ecosystem and supply chain development in the state, which are critical for India to compete globally", the government of the Indian state of Karnataka said in a statement.
"Apple Inc., will not come on board immediately until it completes the ongoing negotiations with the government of India", said a top government official.
Earlier this week, Apple reported its first rise in sales in nine months after strong Christmas sales of the iPhone 7.
Moreover, recent moves made by the tech mammoth indicate that it is making efforts to position itself as a dominant force in the smartphone industry.
The company shipped 2.5 million iPhones into the country in 2016. Currently, there is no information if other products from the company are going to be manufactured in India, but we'll update you in due time.
Fed To Keep Rates Steady - For Now
Previously, inflation was "expected to rise to 2% over the medium term"; now, "inflation will rise". There was some speculation of better commentary on business investment.
The Cupertino-based company reportedly gave the Indian government a list of demands prior to the announcement, including a 15-year tax holiday on imports.
Any final decision on manufacturing in India is, however, likely to depend on the government's willingness to concede ground on the concessions Apple seeks.
Watch this space for latest news on Apple products. "In the longer term, it's a great move", Cook said this week. Read our full report on the same here. Recently, Apple also argued government release some norms of 30 percent.
Apple will soon after launch Apple owned and operated Apple Stores in several major metropolitan cities of India including Delhi, Mumbai, Bangalore, Chandigarh and Ahmadabad. Apple was then asked to send its consent to this proposal, but has not yet responded on the same.
"I feel really good about how we're doing [in India]", Apple CEO Tim Cook said on an earnings call this week after reporting record revenues for the country.
Trump tweeted earlier that morning "Iran has been formally PUT ON NOTICE" for reportedly testing a new weapon last weekend. The historic agreement offered Iran sanctions relief in exchange for greater restrictions on its nuclear energy program.
Manufacturers have responded with an increase in selling prices, which may in turn begin to drive consumer price inflation. The PMI rose to 50.9 points in January, up from 46.7 points in December 2016, according to data released yesterday.
Profit reached $3.568 billion with revenue growth at 177% YoY, compared to $2.379 billion last quarter. Monthly active users (MAUs ) were 1.86 billion as of December 31, 2016, up 17% from December 2015.
The two leaders declared that their alliance is aimed "to defeat the politics of anger and divisiveness" of the opposition BJP. Most meetings attended by her have been at 12, Tughlak Road, the official residence of party vice-president Rahul Gandhi.
Tesla says it is working with its supplier to improve the headlights, and IIHS will evaluate the new ones when they are available. This year, more than three dozen vehicles received Top Safety Pick+ from the Insurance Institute for Highway Safety.
The average true range of the stock is observed at 0.82 and the relative strength index of the stock is recorded at 46.89. The difference between the expected and actual EPS was $0.03/share, which represents an Earnings surprise of 2.3%.
Replacing Obamacare: What to Do About Medicaid?
In addition, the ACA raised the age that dependents can receive health insurance under their parents to the age of 26. Congress has started the process of repealing Obamacare , but lawmakers have not united around a replacement plan.
Tech vs Trump in immigration battle
Amazon and Expedia have submitted declarations in a federal court in Washington, claiming that a recent immigration order by U.S. Amazon is one of many tech giants scrambling to protect its employees in the wake of Trump's executive order.
A Bobcat Escaped Her Enclosure At The National Zoo
A bobcat has gone missing after apparently escaping its enclosure at the Smithsonian's National Zoo, the zoo said Monday. Saffoe said Ollie is equipped to survive and that bobcats sometimes catch birds that land in their enclosure.
Liverpool v Chelsea talking points
It's tempting to go straight for Overs here, as it's trading at a big-looking [2.12] and Liverpool have a reputation for goals. Chelsea have been very fortunate with injuries all season, and Conte has all of his key names available.
Gas prices down slightly from last week
Brent crude, used to price global oils, slid 72 cents, or 1.3 percent, to close at $55.52 a barrel in London. The national average is 46.2 cents per gallon higher than the same time a year ago , GasBuddy said.
Will Trump add Saudi Arabia and Egypt to his Muslim ban?
Relations suffered briefly after 15 Saudi nationals took part in the September 11, 2001, attacks on NY and Washington . Trump will also talk to the acting president of South Korea, Hwang Kyo-Ahn, the White House said on Saturday.