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Arun Jaitley to launch Google payment app ‘Tez’ on Monday 18Sep’17

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Food
Food processing will be a main industry in future: Jaitley

New Delhi, Sep 16 (IANS) Union Finance Minister Arun Jaitley will launch Google’s Unified Payments Interface (UPI)-based digital payment service called “Tez” on Monday, making India’s digital payment ecosystem war even more competitive.

“FM Shri @arunjaitley to launch the Google Digital Payment app ‘TEZ’ on Monday, 18th September, 2017 in the national capital,” the Finance Ministry confirmed in a tweet on Saturday.

The report of Google entering India’s fast growing digital payment ecosystem appeared in the media on Thursday, following which Google India sent out an invite for an event in New Delhi on September 18.

“As we continue to make strides in ensuring that our products continue to serve the needs of everyone, we invite you to a press conference to share details on the launch of a new product developed grounds up for India,” the invite read.

“Tez” (meaning fast in Hindi) may work like Android Pay.

UPI is a payment system launched by the National Payments Corporation of India (NPCI) and regulated by the Reserve Bank of India which facilitates the instant fund transfer between two bank accounts on the mobile platform.

The other big player to join India’s growing digital payment market is Facebook-owned WhatsApp.

WhatsApp has been in the news for working towards a UPI-based interface on its platform.

According to media reports, the leading messaging platform is already in talks with the NPCI and a few banks to facilitate financial transactions via UPI.

According to the blog website “WABetaInfo”, WhatsApp is giving shape to its plans towards bank-to-bank transfer using the UPI system.

Some mobile messaging platforms like WeChat and Hike Messenger already support UPI-based payment services.

The infrastructure of digital payments in India is expected to increase three-fold by the end of 2017 with almost five million electronic point of sale (PoS) machines, the Ministry of Electronics and IT (MeitY) has said.

“We expect that by December, the number will actually go up to five million PoS, which means that the infrastructure for digital payments is going to grow three times in the short span of one year,” MeitY Secretary Aruna Sundararajan said. (IANS)

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Rahul Gandhi Points at PM Modi to Vacate the Seat over Gas price Hike

Rahul Gandhi's twitter attack on PM Modi: Vacant your seat over the gas price hike.

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Rahul Gandhi's verbal attack on PM Modi
Rahul Gandhi's verbal attack on PM Modi wikimedia commons

NEW DELHI: Congress Vice President Rahul Gandhi on Sunday attacked the Narendra Modi-led central government after the prices of cooking gas was again hiked, asking him to “vacate the ‘Sinhasan’ (post of the Prime Minister)”.

“Mehangi gas, mehanga rashan. Band karo khokala bhashan. Dam bandho kam do. Warna khali karo sinhasan (Expensive gas, expensive ration. Stop making hollow promises. Fix the rates and give employment or else vacate the post),” Rahul Gandhi tweeted attaching a news report of the hike.

Gandhi was referring to the price hike announced by the state-run oil firms on Wednesday.

The prices of the LPG cylinder’s went up by Rs 4.50, while the non-subsidised rates were hiked by a steeper Rs 93 per cylinder.(IANS)

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Thane (Maharashtra) to be assessed for implementing district cooling system

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Thane
Thane (Maharashtra) to be assessed for implementing district cooling system (Image:wikipedia)

Chennai, November 2, 2017: Thane in Maharashtra will be the first Indian city to be assessed for potential for implementation of district cooling system, said the Indian subsidiary of Danish company Danfoss A/S.

In a statement issued here, Danfoss Industries said: “As part of the United Nations Sustainable Energy for All Initiative, six cities in India including Thane, Pune, Bhubaneswar, Rajkot, Coimbatore and Bhopal have been chosen to explore District Energy systems.”

 “Thane – also part of the Central Government’s Smart Cities Mission – will be the first city to be assessed for its potential for implementation of the district energy system,” it said.

Simply put, district cooling is a system where water is chilled at a central place and is sent to various buildings via pipelines to cool indoor air using the air conditioning system there.

According to Danfoss, district cooling systems are energy efficient and would reduce total power consumption for cooling buildings.

The water is not for human consumption.

“With the Central Government’s vision to build 100 smart cities and the UN’s District Energy in Cities initiative, we are certain that the six pilot projects of District Cooling which are being launched today, will serve as an inspiration for the rest of the country,” Ravichandran Purushothaman, President, Danfoss Industries was quoted as saying in the statement.

“Danfoss has implemented both, district cooling and district heating technologies around the globe and we are now looking to showcase this expertise in India as well,” he added.(IANS)

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Apple X Factor: China Consumers Wowed by New iPhone, But Will They Buy?

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Iphone X
Attendees use new iPhone X during a presentation for the media in Beijing, China,

SHANGHAI/BEIJING: Gu Xiaomeng, a 24-year-old primary school teacher in the eastern Chinese city of Suzhou, says she’s excited about the new iPhone X, set to go on sale Friday. The challenge for Apple Inc is to persuade her to actually buy one.

“I’m definitely interested, but don’t currently plan to get one,” said Gu, whose monthly salary of a little over 6,000 yuan ($905.36) is less than the anniversary model’s starting price in China of 8,388 yuan.

For Apple, which is looking to rev up sales in China after several quarters of declining revenue there, the test is that Gu is not alone. While interest in the phone is high, that won’t necessarily translate into sales.

“Price appears to be a major constraint on iPhone X demand, particularly in China,” Bernstein analyst Toni Sacconaghi said in a recent report that showed three-quarters of Chinese respondents were excited by the upcoming launch, but only a quarter said they planned to buy one.

Investors are keen to gauge Chinese demand for the iPhone X, as it is key to reviving Apple’s fortunes in the world’s biggest smartphone market where it has lost some of its sparkle — and market share — as local phone makers have advanced.

The cheaper iPhone 8, which hit the market in September, has faced sluggish sales, but Apple has said that pre-orders for the iPhone X have been “off the charts.”

Apple, due to announce quarterly earnings Thursday, said it had no immediate comment.

Chatter online on popular Chinese social media platform Weibo also signaled high levels of interest in the new model, though still generally behind levels around the 2014 launch of the very successful iPhone 6.

Apple “geeks”

Xiao Ming, 32, who works for a blockchain start-up in Beijing, stayed up half the night when pre-sales of the iPhone X opened last week. He has also bought the iPhone 8.

“I always try to be one of the first to buy any new iPhone,” he said, adding he likes the new phone’s augmented reality and facial recognition features. “I’ll be very disappointed if I don’t get one on the first day.”

While he plans to buy the new phone, he noted many of his friends were less fussed. “Before, I think a lot of people would try to get it somehow, now it’s mostly the geeks,” he said.

“My friends don’t mind so much if they have an iPhone 8 or a 6, for example, because it looks similar and the price [of the iPhone X] makes you feel nervous.”

Re-sellers and iPhone accessory makers generally agreed there was a buzz about the iPhone X, Apple’s first phone to have a full-screen display and functions such as facial recognition security.

“People are really anticipating this phone because it’s the 10th anniversary version and it has more changes and modifications,” said Gary Yiu, manager of the iGeneration smartphone shop at one Hong Kong mall.

Iphone X
An attendee uses a new iPhone X during a presentation for the media in Beijing, China.

Yiu and three other phone re-sellers there said they had seen strong demand for the phone from mainland clients.

A merchant at the Huaqiangbei electronics hub in Shenzhen, who was offering an iPhone look-a-like called the “E-Feng X” from 1,599 yuan, said sales volumes were “very good.”

Some Chinese re-sellers, however, said they already canceled pre-orders for the iPhone X, concerned there wouldn’t be enough of a supply bottleneck to allow them to charge a steep premium — despite some worries about long waits.

“I saw many friends were posting pictures of themselves successfully ordering the iPhone X, so I canceled mine,” said Tony Tong, 29, a product manager at a tech firm in Beijing, who said he had ordered four phones in the hope of re-selling them for a profit. “The environment is bad for scalpers.”

Apple will hope payment plans and easy access to online credit in China will persuade people to buy.

Wang Hao, a 24-year-old engineer in the northeastern port city of Dalian, said he ordered the new phone despite the high price tag. His last phone was an iPhone 6S.

“The cost is about a month’s salary for me,” he told Reuters. “But I’m just used to it now, and there wasn’t really anything to make me choose another brand.” (VOA)