CCI orders probe against Apple for ‘unfair practices’
‘No access to potential app distributors’
The Competition Commission of India (CCI) on Friday ordered a detailed probe against technology major Apple for alleged unfair business practices with respect to its App Store.
In a 20-page order, the CCI said that Apple’s App Store is the only channel for app developers to distribute their apps to iOS consumers which is pre-installed on every iPhone and iPad.
“Further, third-party app stores are not allowed to be listed on Apple’s App Store as the developer guidelines as well as agreement prohibits app developers from offering such services... these restrictions imposed by Apple forecloses the market for app stores for iOS for potential app distributors,” CCI said in the order.
The rupee depreciated by 24 paise to close at 82.44 (provisional) against the U.S. dollar on March 24 weighed down by the strength of the American currency and massive selling in the domestic equity market.
In signs of protests against the 9-month-old windfall tax, mining mogul Anil Agarwal’s Vedanta Ltd has withheld about $91 million from the share of profit due to government from its oil and gas fields, to make up for the additional tax outgo, according to sources and correspondence on the issue.
The Hindu live updates on the finance bill 2023 amendments
Bharti Airtel pips Jio in 5G roll-out, reaches 500 cities
Debt mutual funds are likely to be stripped of the long-term tax benefit if they invest less than 35% of their assets in equities. Such mutual funds will attract short term capital gains tax.
The rupee slipped by 4 paise to 82.24 against the U.S. dollar in early trade on March 24 amid a stronger dollar in the overseas markets and losses in domestic equities
The GST Appellate Tribunal is likely to be headed by a former Supreme Court judge or a former Chief Justice of a High Court
Brakes India introduced platinum brake pads for luxury cars under the ‘TVS Apache’ brand
At the interbank foreign exchange, the domestic unit opened strong at 82.38 against the dollar.