Day: September 11, 2020

TikTok Owner to Spend Billions in Singapore After U.S. Ban

(Bloomberg) — ByteDance Ltd., the Chinese owner of video-sharing app TikTok, is planning to make Singapore its beachhead for the rest of Asia as part of its global expansion, according to people familiar with the matter.

The Beijing-based company is looking to spend several billion dollars and add hundreds of jobs over the next three years in the city-state, where it has applied for a license to operate a digital bank, said the people, who asked not to be identified because of confidentiality. The investment would come at a crucial time as the technology firm is forced to sell TikTok

States’ fiscal deficit doubles in Q1: Tax, stamp duties collections in free fall; these states hit most

The fiscal deficit was around 70 per cent of BE in Kerala and Andhra Pradesh in the first quarter and more than 50 per cent of BE in Telangana.

The fiscal deficit of states soared to more than double in the first quarter of the current fiscal amid the coronavirus-led revenue loss. While the states spent 18.4 per cent of the budget estimates, similar to that in the previous years, the fiscal deficit was 36.5 per cent of BE in Q1, which was more than double of that in the previous years, said the Ecoscope report by Motilal Oswal Institutional

Samsung Galaxy Z Fold 2 launched in India for Rs 1,49,999; pre-orders start September 14

Galaxy Z Fold 2 is a successor to the original Galaxy Fold.

Samsung has launched the Galaxy Z Fold 2 in India at an aggressive price of Rs 1,49,999. The reason why we say it is aggressive is because India price of the Galaxy Z Fold 2 is same as its US price which is $1,999. The Galaxy Z Fold 2 India price is also aggressive considering its predecessor’s launch price. The original Galaxy Fold was launched in India at Rs 1,65,000.

The Galaxy Z Fold 2 pre-orders will start in India from September 14 across Samsung.com and leading retail