Snapchat decides to set its operations base in UK despite Brexit
The Dollar Business Bureau Snap Inc, previously known as Snapchat, is going to set up its international headquarter in the UK, a decision which is seen as a vote of confidence for the Britain following the Brexit. The UK will become the main hub outside the US for the California-based technology company. Snap Inc said that it selected the UK because of the country’s strong creative companies. This is a surprise move from that of the US tech firms that have been favouring low-tax destinations like Luxembourg for Amazon or Apple and Facebook favouring Ireland. Claire Valoti, Snap’s General Manager in UK, said, “Our advertising clients are in the UK, where we have over 10 million daily Snapchatters, and where we have already started the hiring.” Although UK is still in the process to leave EU, ...
India rejects Apples offer to sell reused iPhones
The Dollar Business Bureau After the Ministry of Finance rejected the waiver of compulsory local sourcing regulations for Apple Inc to establish single-brand outlets in India, the Ministry of Commerce on Monday said it will put forward the iPhone maker’s case again and a decision based on the consensus will be taken soon. The Commerce Minister Nirmala Sitharaman, at the same time, said the ministry is not in the favour of the phone maker’s proposal to import refurbished iPhones and sell in the country. She also said that the ministry has made it clear that the 30 percent domestic sourcing requirements can be put aside only for high-end technology products. While briefing the journalists, Sitharaman said, “Now the ...
Railway restructuring should be linked to economic clusters
The Dollar Business Bureau “Railways should prioritise linking economic clusters through high-speed passenger and freight network,” said CUTS (Consumer Unity & Trust Society) International as part of its comments on the Bibek Debroy Panel report on Restructuring Railways. The non-profit went on to add that, in fact, a detailed exercise of mapping current and future economic clusters must precede the efforts of railway liberalisation. This will ensure enhanced participation of private players. For example, focus on railway investments on the feeder routes from the coal and iron ore mines located mostly in the tristate area of Chhattisgarh, Orissa and Jharkhand will help achieve greater efficiency. In addition to the above, an urgent action is required to ensure that India’s transport ...
