Ola’s rival Ather Energy to set up a second factory

Flush with the success of its 450X and 450 Plus scooters, Hero MotoCorp’s Pawan Munjal backed startup Ather Energy on weekday aforesaid it’s likely to invest in a second manufacturing facility within the country which is able to take its overall capability from 120,000 to 400,000 units.

The announcement comes within the backcloth of Bhavish Aggarwal backed Ola Electric’s most hyped although delayed entry into the quick growing electrical 2 wheeler market in India. Ola has plans to line up a way larger ten million unit per year facility however is troubled to build and is running delayed.

On the opposite hand, incumbents as well as Ather have registered spectacular growth within the previous few months as high value of gasoline and multiple incentives from central and state governments have acted as sturdy tailwinds for electrical quality.

Ather has been registering two hundredth growth on sales month-on-month over the past year and recorded its best ever sales in the month of October 2021. It crossed $100 million revenue run rate throughout the month.

“The electric vehicle demand has been doping up across the country, and customers are coming back in expecting electrical scooters to wow them.

This client expectation is why our 450 series of electrical scooters – the 450X and 450 plus is seeing large demand because it is the best electric scooter in the country these days,” aforesaid Tarun Mehta, Co-Founder & chief executive officer, Ather Energy. “Our expertise centres are scaling up a pace, and our retail footprint is ready to grow by sixfold within the coming quarters. So, Within 10 months of gap our current facility, We discover ourselves already in operation at full capability.

The second plant is likely to be prepared in 2022. With this capability growth, Ather is well on its way to turning into the country’s largest electric vehicle producer by next year.”

The company’s second plant also will return up within the same location–Hosur, as its 1st that went on stream earlier this year.

With this, its additional production facility can go up to 400,000 units per year. In commercial enterprise 2021, around 150,000 electrical 2 wheelers were oversubscribed within the country. Estimates recommend the quantity can double this commercial enterprise.

Ather has reaped the good thing about being able to capitalise on the demand, one thing that Ola appears to be missing out on.

In October, Ather registered its best-ever monthly sales numbers, registering 12-fold growth over last year. It has recorded a 3X increase in walk-ins, internet inquiries and take a look at rides from April-October 2021 and a 4X growth in vehicle booking within the amount.

In other terms, Ather claims it’s already the biggest electric vehicle maker in its phase. It’s one thing that Ola can sure need to check once its problems are sorted and also the S1 and S1 execs begin reaching their customers.

Apart from the electric vehicle producing, the Hosur facility also will specialize in lithium-ion battery producing. It’s plans to strengthen its retail operations likewise by increasing to new markets–around one hundred and fifty expertise Centers in one hundred cities by March 2023.

Jack Dorsey steps down as Twitter CEO; Parag Agrawal becomes the successor

The news comes as Twitter has accelerated the pace of its product innovation over the past year to vie with social media rivals like Facebook INC and TikTok, and to achieve its goal of doubling annual revenue by 2023.

Twitter INC Chief Executive Officer Jack Dorsey is reportedly stepping down from his role and Chief Technology Officer and Parag Agrawal will become his successor, Twitter proclaimed on weekday.

“Deep gratitude for Jack and our entire team, then abundant excitement for the long run,” Agrawal, an IIT-Bombay grad, aforementioned in a very tweet in conjunction with a note.

“The world is observing us now, even more then they have before. Numerous individuals are progressing to have scores of completely different views and opinions regarding today’s news. It’s as a result of their care regarding Twitter and our future, and it’s a sign that the work we have to do here matters,” Agrawal wrote.

The news comes as Twitter has accelerated the pace of its product innovation over the past year to vie with social media rivals like Facebook INC and TikTok, and to achieve its goal of doubling annual revenue by 2023.

Twitter wasn’t instantly available for comment.
Shares of the microblogging platform surged on Sep 11 in early selling, whereas those of digital payments firm sq. INC, of which Dorsey is additionally a chief executive, were up 3%. Trading within the shares was then suspended sooner than an expected announcement.

Dorsey co-founded Twitter in 2006 and have become corporate executive the subsequent year.

In 2008, Co-founder EV Williams and member Fred Wilson pushed out Dorsey because the social media web site gained steam with users and that they determined he was unfit to steer the corporate.

But once years of stagnant growth and a slumping share value, Dorsey came back as a corporate executive in 2015 whereas continued to steer the company.

In the early 2020, Dorsey faced calls from Elliott Management firm to step down, Once the hedge fund argued that he was paying insufficient attention to Twitter whereas conjointly running payments process company sq. INC. Dorsey fended off the pressure by giving Elliott and its ally, acquisition firm Silver Lake Partners, seats on Twitter’s board.

Omicron poses ‘very high’ global risk, the world must be prepared says WHO

The heavily mutated coronavirus variant Omicron is probably going to spread internationally and pose a awfully high risk of infection surges that would have “severe consequences” in some places, the World Health Organization (WHO) aforementioned on weekday.

No Omicron-linked deaths had nevertheless been reported, Although more analysis was required to assess its potential to escape protection against immunity induced by vaccines and former infections, it added.

In anticipation of numerous cases reported due to the variant, which was initially said to be reported last week, spreads, the U.N. agency urged its 194 member states to accelerate vaccination of high-priority teams and guarantee plans prepared in place to take care of health services.

“Omicron has a new variety of spike mutations, a number of which can cause potential impact on the flight of the pandemic,” the WHO aforementioned.

“The overall world risk associated with the new variant …is assessed as terribly high.”

Tedros Adhanom Ghebreyesus, WHO director-general, sounded the alarm at the beginning of an assembly of health ministers that’s expected to launch negotiations on a global agreement on preventing the future pandemics.

“The emergence of the extremely mutated variant Omicron underlines simply how perilous and precarious our situation is,” Tedros aforementioned.

“Omicron demonstrates simply why the
world desires a replacement accord on pandemics. Our current system disincentivizes countries from alerting others to threats which will inevitably land on their shores.”

The new world deal, expected by 2024, would cowl problems like sharing of knowledge and ordering sequences of rising viruses, and of any potential vaccines derived from analysis.

Omicron was initially said to be reported on November twenty four from South Africa, where infections have been up steeply.

It has since unfold to quite a dozen countries, several of that have obligatory travel restrictions to do to seal themselves off. Japan on weekday joined Israel in expression it’d shut its borders to foreigners.

The WHO reiterated that, pending further advices, countries ought to use a “risk-based approach to regulate international travel measures in an exceedingly timely manner”, whereas acknowledging that an increase in coronavirus cases may result in higher morbidity and mortality rates.

“The impact on vulnerable populations would be substantial, significantly in countries with low vaccination coverage,” it added.

South Africa says that it is being “Punished” For Detecting New Covid Variant Omicron

South Africa said on Saturday that it’s being “punished” for discovering a new Covid-19 variant named Omicron that the World Health Organization has termed a “variant of concern” and is transmissible more than the dominant Delta strain.

The decision by various of countries around the world to ban flights from southern Africa following the detection of the new variant “is akin to punishing South Africa for its advanced genomic sequencing and therefore the ability to discover new variants faster,” the foreign affairs ministry aforesaid during a statement.

“Excellent science ought to be applauded and not to be punished,” it said.

The ministry observed that new variants had been discovered in various parts of the globe.

“Each of these cases have had no recent links with Southern Africa, however the reaction to those countries is starkly completely different to cases in Southern Africa,” it said.

Israel and European nations declared after South Africa that they conjointly had detected cases of the new COVID-19 variant Omicron.

Government insisted that South Africa’s “capacity to check and its ramped-up vaccination programme, insured by a first scientific community ought to provide our world partners the comfort that we have a tendency to do likewise as they’re in managing the pandemic”.

With over 2.95 million cases and 89,783 deaths, South Africa is reportedly the worst-hit country in Africa by the pandemic.

Truecaller introduces new features for Android Users With Video Caller ID, Redesigned Interface

Truecaller on Thursday launched version twelve of its caller ID app with an inventory of recent options. One among the most important additions is that the arrival of Video caller ID that lets users set a brief video that plays automatically after they call their friends and family. Truecaller twelve additionally comes with a redesigned interface that brings separate tabs for calls and SMS messages. Truecaller additionally integrated a call recording feature to record incoming and outgoing calls. The updated Truecaller additionally brings Ghost Call and Call Announce options for paid users.

With Video caller ID, you’ll be able to set a brief video that may play after you call from your contact list. You’ll be able to either record a video for the caller ID or select from the four preloaded templates. You may additionally begin seeing Video caller ID from your saved contacts and verified business calls.

You can manage your Video caller ID and whether or not you wish to receive Video caller ID from businesses and contacts by aiming to Settings > caller ID from the newest Truecaller app. Notably, the video you set as a caller ID are going to be kept within the Truecaller cloud.

The updated Truecaller app additionally brings a efficient interface where you may have separate tabs for calls and SMS messages. This can be in contrast to the present interface where you’ve got a Home shortcut to access calls and Truecaller for SMS.

With separate tabs, you’ll be able to get to any or all of your SMS, Truecaller group Chats, and direct chats with only 1 tap, the Sweden-based company said in an exceedingly release.

Truecaller additionally said that Truecaller for SMS has around fifteen crore users.

The new Truecaller update additionally brings call recording, that was initially introduced for Premium users and recently launched for beta testing. It’s currently offered for all Truecaller users — together with the paid and free ones.

Calls recorded in the Truecaller app is kept on the device storage and may be shared with others over email or through any messaging service. The call recording feature is offered as optional. Further, users will record voice calls either from the Full-Screen or appearing caller ID interface of the app.

Truecaller additionally said that callers won’t be prompted with a notification on whether or not their calls are recorded in the app.

In addition to the new options for all users, Truecaller has one by one increased user expertise for its paid subscribers by Ghost Call and Call Announce options. Ghost Call lets users fake to have received a call from their contacts.

You can set any name, number, or picture to form it to make it seem as if you’re obtaining a call from that person in the Ghost Call feature. You’ll be able to additionally select a contact from your telephone book that you simply wish to point out as the caller on your phone. Moreover, you’ll be able to schedule a Ghost call to look at your phone at a later time.

Truecaller says that the Ghost Call feature is supposed to assist folks get out of sticky things and play harmless pranks on friends.

The second feature for paid Truecaller users is that the call Announce feature that may let the app speak the caller ID for incoming phone calls aloud. It’ll work for each saved contacts and numbers known by Truecaller’s caller ID info. The feature will be accessible for each Truecaller ID Voice calls. Users may change call announce once sporting headphones.

Notably, Ghost call and Call Announce each are going to be offered solely to Premium and Gold users. whereas Truecaller Premium is offered at Rs. 529 a year or Rs. 179 for 3 months, the Gold membership is at Rs. 2,500 a year.

Truecaller said that the new options are going to be step by step extended for all users in India within the returning weeks and a number of other countries. A number of the options are already offered for access in beta. However, there’s no word on when we might see them on the iOS version of Truecaller.

Earlier on, Truecaller disclosed that it has around three hundred million monthly active users across the globe, with 73% of its users in India alone.

Government to ban all private cryptocurrencies

A bill to ban all private cryptocurrencies in India, with sure exceptions to push the underlying technology and its uses, is among twenty six bills to be introduced within the coming winter session of the Parliament.

Titled ‘The Cryptocurrency and the Regulation of the Official Digital Currency Bill, 2021’, it’s among the list of latest bills for introduction, consideration and passing.

“To produce a helpful framework for creation of the official digital currency to be issued by the depository financial institution of India,” the bulletin listing the legislative business denoted on Lok Sabha’s website said.

The winter session of Parliament starts from November twenty nine.
“The Bill additionally seeks to ban all private cryptocurrencies in India, however, it permits sure exceptions to push the underlying technology of cryptocurrency and its uses,” the bulletin said.

The Reserve Bank of India is examining the feasibleness of launching its own central bank digital currency however is nevertheless to make your mind up on the possible date for launching a project.

However, the Lok Sabha bulletin didn’t offer the other details concerning the Cryptocurrency and the Regulation of the Official Digital Currency Bill, 2021.

Earlier this month, a high level meeting convened by Prime minister Narendra Modi commanded a comprehensive review on cryptocurrencies.

Government sources had said that it absolutely was viewing “forward looking and progressive” regulation of cryptocurrency and that they had created it clear that an unregulated marketplace for digital currency can not be allowed to become avenues for hiding and terror funding.

During the meeting there was a powerful read that tries to mislead the youth through non-transparent advertising, that over-promised, required to be stopped, sources had detected.
Shortly after the meeting, Parliament’s committee on finance met to seek views from varied trade participants.

While suggesting that a ban might not facilitate, trade representatives told the parliamentary committee that cryptocurrencies ought to be regulated since they can’t be stopped, amidst issues over security and capitalist protection by a number of the panel members.

Addressing an occurrence last week, PM Modi had additionally urged cooperation between the world’s democracies to confirm cryptocurrencies like Bitcoin don’t “end up in the wrong hands”.

While the govt and the Reserve Bank of India are discussing the legislation on the problem for many months currently, there has been a pointy increase in interest in cryptocurrency with many people, together with senior voters started investing in private digital currencies.

India is calculable to own the biggest range of cryptocurrency investors in the world, though price of investment may well be smaller than in western countries.

The depository financial institution has systematically maintained the necessity to ban private digital currency.

Earlier this year, the Reserve Bank of India had sent its call to hunt a ban on such instruments once expressing serious issues.

While declarative that the technology of blockchain ought to be inspired, the financial organization questioned the aim of cryptocurrencies to be labeled as a currency. It had said that a currency may be a sovereign right and can’t be allotted to any person entity.

There are issues over volatility in their value excluding their impact on the economy.
The financial organization has additionally raised security risks coupled to cryptocurrencies, saying that it may bring about to hiding and terror funding due to the anonymity of the transactions.

The Reserve Bank of India has additionally pointed to the hazards to political economy management if these instruments are allowed as they’d create “serious risks” to the financial set-up of the country.

In 2019, the govt had appointed an inter-ministerial panel headed by the then economic affairs secretary Subhash Chandra Garg that had backed a ban on private cryptocurrencies.

Since then there has been intense discussions on the problem whereas the sector had lobbied laborious to prevent a complete ban.

WhatsApp Introduces New Safety Features ‘Flash Calls’ and ‘Message Level Reporting’

Meta owned instant electronic communication platform WhatsApp has introduced 2 new safety options ‘Flash Calls’ and ‘Message Level Reporting’ for users in Asian nation. The Flash Calls and Message Level coverage options can permit users higher security and management over their usage of the electronic communication app. With Flash Calls new Android users or those who change their devices often, one will choose to verify their phone numbers via an automatic decision rather than a SMS.

According to WhatsApp, this is often a way safer choice, only if it takes place all from among the app. The Message Level coverage feature permits users to report a selected message received on WhatsApp.This may be done by merely long pressing a selected message to either report or block a user. WhatsApp engaged on New Feature that may Quickly Migrate Chats From iOS to Android.

WhatsApp has additionally extended the flexibility to let users hide their profile image, last seen, and a lot from other users, the flexibility to block somebody who would be bothersome, and two step verification (2FA).

Meanwhile, WhatsApp has discharged the update for its Android users on the beta channel, that reveals the corporate is functioning on message reaction notifications for its Android app.

WhatsApp has been developing the message reactions feature for a number of months currently, which, as evident from its name, lets users react to messages constant means they react to the posts and comments on the Facebook app.

Previously, WhatsApp had no plans to give notice users of message reactions, however the corporate later began developing it for the beta version of its iOS app and currently it’s additionally engaged on providing constant feature to its Android users.

India plans to release 5 million barrels of crude oil

After America, Japan and alternative major economies, India is also additionally reaching to unharness concerning five million barrels of fossil fuel from its strategic reserves, according to a government official.

The decision comes as a part of coordinated move with the North American nation and alternative allies during a bid to chill international oil costs.
This is the prime time ever that India is releasing fossil fuel from its emergency stock pile.

In total, Republic of India stores around 5.33 million tonnes or concerning thirty eight million barrels of fossil fuel in underground caverns at 3 locations on the east and west region.
In the upcoming 7-10 days, five million barrel of this stock pile are going to be discharged.
India and therefore the alternative countries might also consider selling additional tranches later.
However, a proper announcement on the matter is anticipated soon.

The crude are going to be sold to refiners as well as those operated by Mangalore plant and Petrochemicals and Hindustan petroleum corp as these are connected by pipeline to the strategic reserves.
The release is symbolic because it shows oil shoppers are willing to confederate against Opec’s reign over markets.
The Organisation of the fossil oil exporting Countries (Opec) and its allies have repeatedly unnoted requests by many major economies to hurry up their production rise.

The North American nation had last week created the weird request to a number of the world’s largest oil-consuming nations, as well as China, Republic of India and Japan, to contemplate releasing crude stockpiles during a coordinated effort to lower international energy costs.
US President Joe Biden has additionally ordered the discharge of fifty million barrels of oil from the North American nation strategic reserves during a coordinated try with alternative countries to pack together soaring fuel costs.
“This release will be taken in parallel with alternative major energy overwhelming nations as well as China, India, Japan, Republic of Korea and therefore the uk,” the White House aforesaid.

As the world emerges from the Covid-19 pandemic and ensuant lockdowns, oil production has not unbroken pace with rocketing demand, pushing costs up.

In the US, an associated rise in fuel costs is the main culprits in a surge of inflation.
India has been forceful concerning flexing its muscles as a significant oil shopper, cutting shipments from Kingdom of Saudi Arabia by a few quarter once Opec+ extended production cuts.
Oil minister Hardeep Singh Puri last week in Dubai had aforesaid high costs can undermine the world economic recovery.
“We are acting on releasing stocks from our strategic reserves in coordination with alternative nations,” the official aforesaid. “The unharness temporal order can rely on America creating a proper announcement.”
India is that the world’s third-largest oil shopper and seller and has been severely impacted by the relentless rise in international oil costs.

Truecaller hits a milestone of 300 million monthly active users

Caller identification firm Truecaller has declared that it has crossed a milestone of three hundred million monthly active users on November twenty one, up from 250 million users in the month of October last year.

India is the largest marketplace for the Swedish firm with over 220 million monthly active users, up from 178.1 million users as of September last year.

“Over the past decade, we’ve worked arduously to form Truecaller the very important service that’s employed by so many people and that i am humbled by the trust that a big amount of users place in our platform,” says Alan Mamedi, business executive and co-founder of Truecaller.

“We have a transparent strategy to continue growing our company by developing the merchandise to boost the user expertise and thereby welcome even additional users within the future,” he added.

Founded in 2009 by Mamedi and Nami Zarringhalam, Truecaller offered decision identification and spam block options to its users who has afterward expanded its offerings with options like good SMS, Inbox Cleaner, Full-Screen caller ID, cluster Voice line of work, and others.

Truecaller conjointly earns the bulk of its revenues from India. It clocked revenues of around $25 million (214 million Swedish Krona) in Q3 2021, registering a 111 % increase on a yearly basis. India contributed regarding 68.3 % of the company’s Q3 2021 revenues that stood at $36.48 million (312.8 million Swedish Krona).

Truecaller went public in the month of October 2021 by listing its category B shares on NASDAQ national capital. Founders Zarringhalam and Mamedi will manage a majority of the company’s option power through their possession of the firm’s high-vote category A shares.

India Is One Step Closer To adopting Cryptocurrency

Linking cryptocurrency’s potential to facilitate hiding and enable terror funding whereas additionally being responsive to the certainty of cryptocurrencies in the long term, the govt of India is geared up to manage cryptocurrency. The matter was mentioned at the very best level on November thirteen and chances are high that that a Cryptocurrency Bill is going to be introduced in Parliament’s Winter Session.

A meeting chaired by Prime Minister Narendra Modi mentioned cryptocurrency and it emerged that the govt is seriously involved that anti-Indian measures manipulating youth with “over-promising” and “misleading advertisements”. This should be stopped, the meeting terminated. The review meeting followed months of elaborate consultation involving the Ministry of Finance, the Ministry of Home, and cryptocurrency consultants from India and abroad.

Meanwhile, a parliamentary panel for the primary time mentioned the fate of cryptocurrencies in India on Monday wherever the accord emerged that cryptocurrencies can’t be stopped so that they ought to be regulated. The commission on Finance, chaired by former government minister Jayant Sinha, had invited a good spectrum of crypto business stakeholders together with exchanges and business bodies. Before the meeting, Sinha told the media, “We have known as stakeholders from across the business together with operators of major exchanges, members of CII also as teachers from the Indian Institute of Management (IIM) Ahmedabad, Who have done a really thorough study on the crypto finance.”

While a accord looked as if it would have emerged that a restrictive framework ought to be provided for the graceful and bonafide functioning of the crypto business within the country, there was no agreement on Who the regulator ought to be.

There is a accord that unregulated cryptocurrency shouldn’t lean a free run to launder cash and fund terror. The govt is nervous and apprehensive of the “evolving technology.” Hence, the choice to stay a “close watch” and therefore they got to take some “proactive steps”!

The developments came as a poll within the uk, control simply before the twenty sixth international organisation global climate change Conference in Glasgow, Scotland, discovered that the group in the uk needed a ban on cryptocurrency.

Unlike the united kingdom, however, there are not any indications that Indians desire a “ban” on cryptocurrency. The Modi Government said it’s a “forward-looking progressive” approach and can not solely interact with stakeholders in India however additionally connect with international partners.

The run has systematically warned against cryptocurrencies, urging that they were a significant threat to India’s economy and to its economic system. The Indian financial organization isn’t convinced of the over-ambitious crypto-claims and its supposed value. The run is against permitting cryptocurrencies – regulated or unregulated – space within the country’s money corridors. An indoor panel report of the run on the topic are going to be in the month of December.

Be that because it might, the govt won’t take an all-or-nothing call. It’s probably that “strong restrictive steps” measures on the anvil. The words “progressive and forward-looking” indicated the government’s thinking on the topic. The actual fact that cryptocurrencies span geographical boundaries can not be neglected. The whole globe could be a neutral and best world practices can have a say.

Indications are that the govt needs to draw a digital currency policy which will stand to take a look at your time. The primary restrictive steps would address “over promising” and therefore the opacity that surrounds cryptocurrency advertising. The restrictive steps may be outright legal. The crypto future in India are going to be certain by a powerful legal framework.