Google has officially joined the messaging war globally on September 21, with the launch of its new chat app, Allo, to take on WhatsApp.
The company had announced Allo at its I/O developer conference earlier this year. A standalone messaging app, Allo comes with a built-in search engine and has Google Assistant, the company's conversational version of Google Now, integrated.
Just like Facebook's WhatsApp, the app uses user's phone number as primary identification. Users can also link Allo to their Google accounts.
Pfizer sues Indian drug firms to block copying of Xeljanz pill
In a series of pre-emptive strikes, global drug maker Pfizer has sued a host of Indian drug makers such as Sun Pharma, Zydus Cadila to block them from developing and marketing its once daily pill Xeljanz (tofacitinib) that is used to treat moderate to severe rheumatoid arthritis.
In global sales, Xeljanz clocked over $200 million during the last quarter and is rated as a potential blockbuster, given that the disease condition is widely treated by use of injections.
A case filed last month by the US pharma giant in Delhi High Court against Sun Pharma claimed infringement of its patents and sought to injunct the Indian drug maker from developing the compound.
Gold to cross Rs 32,000 per 10 gm by Diwali: Industry experts
With gold prices moving up to about Rs 31,500 per 10 gm in the spot market, bullion traders and analysts said the Rs 32,000 per 10 gm mark may well be breached by Diwali.
Demand all over India in September is up 30% compared to that a year ago. Analysts said that even if there is a rate hike, things can work in favour of gold with the depreciation in the rupee as the demand for dollar would rise in the event of a rate hike and would subsequently increase the landed price of gold.
India is expected to import 750-850 tonnes of gold this year.
Zee Entertainment sells Ten Sports to Sony Pictures for Rs 2,600 crore
Sony Pictures Networks India (SPN) will acquire Ten Sports for Rs 2,600 crore ($385 million) from Subhash Chandra-run Zee Entertainment Enterprises (ZEE). The deal will raise SPN's sports profile and put it on equal footing with Rupert Murdoch's 21st Century Fox-owned Star India.
ZEE had paid $107 million (Rs 500 crore) in instalments during 2006-11 to acquire Ten Sports from Dubai-based Abdul Rahman Bukhatir's Taj Group. Its accumulated losses from the sports business are pegged at Rs 600-640 crore.
Singh and ZEE managing director Puneet Goenka signed the deal on September 7th and the transaction is expected to be completed in four-five months.
Spicejet doubles y-o-y profits for Q1 to Rs 149 crore
SpiceJet has more than doubled its profits during the first quarter of the current fiscal to Rs 149 crore from Rs 73 crore during the same period last year.
This is the sixth consecutive profitable quarter for the low cost airline. The airline said that capacity deployed by SpiceJet, during the latest quarter, registered a growth of 37% over the same quarter last year and operating revenue stood at Rs 1,522 crore.
During the latest quarter the airline reported a 64% increase in revenues from ancillary revenues compared to the same period in the previous year.