Business news and views.
Apple begins to make iPhone XRs in southern India amid US-China trade war
The tech company has started assembling the iPhone XR at a Foxconn facility near Chennai. This comes as Apple is looking to shift its manufacturing from China and make India one of its key global production hubs.
#Diwali bonanza for govt staff
Nearly 1.15 crore central government employees and pensioners got a “Diwali gift” with the Cabinet raising their Dearness Allowance from 12% to 17% — the highest-ever hike in one go. The higher allowance, payable effective July 2019, will cost the exchequer around ₹16,000 crore. Just this year, the DA for government staffers has almost doubled: it was increased from 9% to 12% in January. The announcement boosted the markets, with benchmark indices BSE Sensex and NSE Nifty closing 1.7% higher. Government employees are paid DA to adjust to the cost of living.
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