Analysts are expecting the offline smartphone retail outlets to make a comeback in 2021. The rebound in offline sales of smartphones is expected to be led by Tier 2 cities across the country. The smartphone market in India continues to be predominantly offline. The market conditions in 2020 were such that it drove the online retail contribution to greater heights.

As the COVID-19 vaccine started rolling out in many countries, the World Bank expects that the global economy will expand four per cent in 2021, but will still remain more than five per cent below its pre-pandemic trend. "The global economy appears to be emerging from one of its deepest recessions and beginning a subdued recovery," World Bank President David Malpass said on Tuesday.

US-based e-commerce giant Amazon.com NV Investment Holdings LLC and Kishore Biyani-founded Future Group are gearing up for the final battle at the Singapore International Arbitration Centre (SIAC) over Future Group’s ₹24,713-crore deal with Asia’s richest man Mukesh Ambani-owned Reliance Industries Ltd. This, as SIAC formed its panel on Tuesday to pass its final judgement on the high-profile case.

Kotak Securities on Tuesday said it is setting aside a corpus of Rs 50 crore to invest in startups and financial technology companies. It has set up a corporate development department (CDD) for the startup investment and engagement programme, wherein it will be incubating and investing in the innovative companies. It will pick up minority stakes in such companies which make a strategic sense.

As per the latest corporate shareholdings filed, SBI publicly holds 25 stocks with a net worth of over Rs. 125,422.4 Cr. These are the top 5 holdings of SBI- [1] SBI Cards and Payments (59,641.0 Cr) [2] SBI Life Insurance (50,258.0 Cr) [3] YES Bank (13,530.0 Cr) [4] UTI Asset Management Company (698.8 Cr) [5] Suzlon Energy (276.2 Cr). Love this information?

The Reserve Bank on Tuesday said it has imposed a penalty of Rs 2.5 crore on Bajaj Finance Limited, Pune for violation of various directions, including on recovery and collection practices. There was also violation of a specific direction to the company to ensure full compliance with Fair Practices Code (FPC) in "letter and spirit", the central bank said in a release.

Financial technology startup Zerone Microsystems on Tuesday said it has raised USD 1.3 million (around Rs 9 crore) in a funding round led by Indian Angel Network (IAN) with participation from IAN Fund and TCA. The funds were raised in pre-series A funding round. The company claims to have over 30,000 merchants from Ladakh to Nagaland and from Jammu & Kashmir to Andaman Islands using its service.

The Enforcement Directorate has attached assets worth ₹452cr of a Singapore-based "shell" or dubious company in connection with its money laundering probe in the IL&FS alleged payment default crisis. The assets, provisionally attached under PMLA provisions, are in the form of shares "belonging" to A S Coal Pte Singapore, a shell company owned by British national Jaimin Vyas.

Gujarat International Finance Tec (GIFT) City, the country’s first operational smart city and International Financial Services Centre (IFSC), has allotted 10 lakh sq. ft built-up area to Savvy Infrastructure Pvt Ltd for development of commercial, residential, and social buildings in GIFT SEZ area. Savvy Infra will develop around five projects and invest about Rs 700 crore in this development.

On the 4th day following the launch of Delhi Development Authority’s 2021 housing scheme offering 1,350 flats for sale, DDA has received more than 3,000 applications. Over 500 applicants have even paid up the booking amount. Applicants for flats under the scheme have to deposit application money. For EWS units, it is Rs 25,000; for LIG it is Rs 1 lakh and for MIG and HIG units it is Rs 2 lakh.

Toll collection in December 2020 through FASTags reached Rs 2,303.79 crore in December 2020, recording an increase of Rs 201 crore over the preceding month, the NHAI said on Tuesday. Similarly, toll transactions through FASTags recorded significant growth of 1.35 crore in December 2020. The increased revenue comes after the government announced the mandatory rollout of FASTag from January 1, 2021.

China's best-known entrepreneur, e-commerce billionaire Jack Ma, made his fortune by taking big risks. The former English teacher founded Alibaba Group in 1999, when China had few internet users. Online payments service Alipay launched five years later before regulators said such businesses would be allowed. However, the business tycoon did not appear before the public in the recent past.

German firm BioNTech warned on Tuesday that there is no data backing the "safety and efficacy" of delaying the 2nd shot of its COVID-19 vaccine beyond 3 weeks, as some countries push back the jab to give more people their first dose. BioNTech, which developed the vaccine with US giant Pfizer, said its clinical data showing 95% efficacy was based on a two-dose schedule separated by 21 days.

In response to the petition filed by Reliance Industries (RIL), through its subsidiary Reliance Jio Infocomm Limited (RJIL) on January 4, the Punjab and Haryana High Court on January 5 issued a notice of motion seeking the urgent intervention of State Government as well as the Centre in order to stop the illegal acts of "vandalism by miscreants" as alleged by RIL.

India’s pharmaceutical industry significantly increased exporting drugs when the world was suffering from the coronavirus pandemic in the first half of the current fiscal year. The country’s formulation surged 18% while the bulk drug exports rose 9% on-year during H1 FY21. During the full previous fiscal, the exports of formulation rose 11% and that of bulk drug contracted by 1%.