Apple Rejects India’s Order Forcing Smartphone Makers To Install State-Run App, Report Says

India has mandated the installation of a tracking application on all smartphones, a move that reflects the government's increasing focus on digital surveillance and data collection. This decision was reported by The New York Times and is set to take effect in the coming months.

India has been importing discounted Russian oil, which has raised concerns as these purchases indirectly support Moscow's military actions in Ukraine, leading to increased scrutiny from Western nations, particularly the U.S. and Europe.

Apple is facing potential class action lawsuits in the European Union over its App Store fees, which have drawn criticism for being excessively high. This legal challenge reflects ongoing tensions between tech companies and regulators regarding fair pricing practices in digital marketplaces.

Indian food delivery service Swiggy Ltd. is set to raise up to 100 billion rupees ($1.1 billion) from institutional investors as early as next week, signaling a significant move in the Indian market. This share sale reflects the company's growth ambitions and the increasing interest in the food delivery sector.

Russian President Vladimir Putin is set to enhance energy and defense exports during his upcoming visit to India, aiming to strengthen bilateral ties amid global economic shifts. This visit comes at a time when Russia is focusing on expanding its industrial output, particularly in military-related sectors, which have seen significant growth recently.

John Giannandrea, Apple's head of artificial intelligence, has announced his departure from the company, with Amar Subramanya set to take over his role. This change comes as Apple has struggled to keep pace with competitors in the generative AI space, particularly regarding its voice assistant, Siri. Giannandrea's seven-year tenure was acknowledged by CEO Tim Cook, who emphasized his contributions to the company's AI advancements.

ICICI Securities has downgraded the stock rating of Gail (India) due to a decrease in tariff rates, reflecting concerns over the company's revenue potential. This downgrade is indicative of the challenges faced by the company in maintaining profitability amid changing market conditions.

Wall Street analysts are predicting a rebound in Indian markets following a challenging year characterized by significant underperformance, marking one of the worst periods for the market in decades. This optimism comes as major financial institutions reassess their outlook on India's economic potential.