Enforcement Directorate arrests NBFC CEO in probe against Chinese-backed loan appse was later produced before a special Prevention of Money Laundering Act (PMLA) court in Hyderabad that sent him to 15 days' judicial custody, the agency said in a statement. The action is linked to the ED's investigation against a number of Indian NBFCs which are in the business of instant personal loans through mobile apps (applications).
Apple and Microsoft stocks suffer their worst week in monthsApple remains a big stock market winner after a rally over the past month. The stock is up 29% since the start of the year and is outperforming the S&P 500 and Nasdaq 100. Microsoft has gained 46% in 2021, creating more than $700 billion in market value.
US blocks investments in Chinese drone maker DJIThe US has slapped further sanctions on Chinese drone-maker DJI, prohibiting people in the US from purchasing or selling certain publicly-traded securities connected with the company, along with seven other Chinese firms.
US recommends approving Google, Meta undersea data cable to AsiaThe administration urged the Federal Communications Commission (FCC) to grant licenses for the companies to send and receive data on the existing 8,000-mile Pacific Light Cable Network. The undersea fiber-optic cable system connects the United States, Taiwan, the Philippines and Hong Kong.
India is the fourth most spammed country in the worldA report by Truecaller has now confirmed that India is amongst one of the worst to be affected by spam calls and messages. In a report released by the company, India ranks at number four on the list of top countries affected by spam calls in 2021.