Uber, Yandex Ride-Sharing Services Can Merge in Russia, Regulator Rules

Uber, Yandex Ride-Sharing Services Can Merge in Russia, Regulator Rules

Uber and Yandex’s ride-sharing businesses can merge in Russia, anti-monopoly regulator FAS ruled on Friday, but stipulated that the combined company not bar drivers from working for competitors.

Uber and Yandex, often referred to as the “Google of Russia”, announced plans in July to combine operations in 127 cities in Russia, Armenia, Azerbaijan, Belarus, Georgia and Kazakhstan.

San Francisco-based Uber has agreed to invest $225 million (roughly Rs. 1,454 crores) while Yandex will contribute $100 million (roughly Rs. 647 crores) into a new joint company in which Yandex will own 59.3 percent.

The two companies must allow their partners, drivers and passengers to work for or use competitors’ services and fully inform users of the legal entity providing the service, the FAS said in a statement.

Yandex said consumers would be able to use both Yandex.Taxi and Uber apps, while their driver apps will be integrated, leading to shorter passenger wait times, increased driver utilisation rates, and higher service reliability.

The companies aim to close the deal in January 2018, after the New Year holidays in Russia, Yandex said in a statement.

Moscow-listed Yandex was up 3.47 percent as of 11:23am GMT.

It said the anti-monopoly regulator in Belarus had also approved the deal while a decision by the Kazakh regulator was pending.

[“Source-gadgets.ndtv”]

‘Made in India’ iPhone SE 2 to Launch in Early 2018: Report

'Made in India' iPhone SE 2 to Launch in Early 2018: Report

Apple at its earnings call earlier this month revealed that the iPhone SE had a big hand in the double digit growth in iPhone sales in India this last quarter. Now, a fresh report claims Apple is preparing to launch the iPhone SE’s successor in early 2018, corroborating a much earlier report. The new model, said to be called the iPhone SE 2, will reportedly be manufactured by Taiwanese original design manufacturer (ODM) Wistron at its Bengaluru factory that already produces the original iPhone SE.

As per a fresh supply-chain report by Taiwan’s Economic Daily News, Apple will launch the iPhone SE 2 in the first quarter of next year. The reported launch schedule appears to be in line with the original iPhone SE that was debuted in March last year. Further, the new low-end iPhone model is reportedly already in the initial stages of production at Wistron’s facility in Bengaluru. The facility was established for assembling iPhone SE models earlier this year, allowing Apple to enjoy reduced tariffs by adhering to the Make in India and thereby reduce prices on the smartphone.

The local manufacturing process is already helping Apple maintain an affordable price of the iPhone SE in India. This trend would continue with its refresh version. According to the FDI (Foreign Direct Investment) policy, foreign companies producing goods in the country need to source 30 percent of their components locally. Therefore, the iPhone SE 2 is likely to be marketed as a new “Made in India” iPhone by the Cupertino company.

The report adds that the iPhone SE 2 will be targeted at markets like Indonesia and the rest of Southeast Asia, apart from India. It is also said to cost roughly $450 (roughly Rs. 29,200) – which if true would be significantly cheaper than the original iPhone SE’s launch price.

If we believe some recent reports, the second-generation iPhone SE will have Apple’s A10 Fusion chip that was debuted on the iPhone 7 and iPhone 7 Plus last year, coupled with 2GB of RAM as well as 32GB and 128GB storage options. The iPhone SE 2 is also rumoured to have a 12-megapixel rear camera sensor, a 5-megapixel front camera, and a 1700mAh battery. Moreover, the display of the new iPhone SE model is likely to be identical to its predecessor that has a 4-inch panel.

Apple can be expected to announce the iPhone SE model in March, if going by last year’s launch. Meanwhile, we can expect a series of rumours and leaks pointing towards the new hardware.

source:-gadgets.ndtv

Angry Birds Maker Posts Loss Despite Jump in Sales

Angry Birds Maker Posts Loss Despite Jump in Sales

Finland’s Rovio Entertainment, creator of the popular smartphone game Angry Birds, on Thursday posted a loss for the third quarter despite rising sales, as it increased its investments with a view to boost its winnings in future.

Sales reached EUR 70.7 million (nearly $84 million) in the third quarter compared to 50 million the previous year, but year-on-year the company lost EUR 800,000.

Rovio posted a profit of EUR 3.9 million in the third quarter of 2016.

The company said this quarter’s negative result was expected as it invested EUR 22 million in top performing games, hoping this would boost its profits in future.

“In line with our growth strategy, we significantly increased our investments in user acquisition, which predictably led to a decline in profitability,” Rovio chief executive Kati Levoranta said in a statement.

“We expect the payback time for these investments to be 8 to 10 months,” Levoranta said, adding the launch of the new Angry Birds Match game could become one of the company’s “best performing”.

The group entered the Helsinki Stock Exchange at the end of September and was valued at 950 million euros.

On Thursday morning, the company’s share price was down by 19 percent.

Rovio has accelerated its diversification in recent years.

The release of the Angry Birds movie (2016), produced by Sony Entertainment, was a huge success that grossed $350 million worldwide, and is expected to help bolster Rovio profits in 2017 and 2018.

The company also runs Angry Birds theme parks in several countries, including Finland, China and Spain.

It oversees the publication of children’s books in a dozen languages, while boasting an average of 80 million active players per month and 11 million per day.

[“Source-gadgets.ndtv”]

Biocon shares gain over 2% on launch of cancer drug KRABEVA in India

Biocon share price gained 2.5 percent intraday Thursday after the biopharmaceuticals firm has launched KRABEVA, a biosimilar Bevacizumab, in India.

The drug is used for the treatment of patients with metastatic colorectal cancer and other types of lung, kidney, cervical, ovarian and brain cancers, in India.

“We believe KRABEVA will be an important addition to oncology portfolio of novel biologics as well as biosimilars, which are making a significant impact in the realm of cancer care in India,” Arun Chandavarkar, CEO and joint MD, Biocon said.

KRABEVA is the second key oncologic biosimilar product from Biocon’s global biosimilars portfolio to be launched in India, in order to address the unmet patient need for affordable biological therapies.

The product is being offered to patients at an MRP of Rs 24,000 for 100 mg / 4 ml vials and Rs 39,990 for 400 mg / 16 ml vials.

KRABEVA is being launched post successful completion of phase III clinical trials and approval of company’s marketing authorisation application by the Drug Controller General of India.

At 11:02 hours IST, the stock price was quoting at Rs 418.50, up Rs 9.90, or 2.42 percent on the BSE.

source:-.moneycontrol.