A surface-to-air missile shot down a U.S. military drone over the Strait of Hormuz, a U.S. official said Thursday.World Politicsread more
President Donald Trump has publicly blamed the Federal Reserve's interest rates hikes for holding back U.S. economic growth.The Fedread more
Slack's public market debut on Thursday will generate billions for venture firm Accel and healthy returns for Andreessen Horowitz and Social CapitalTechnologyread more
China's President Xi Jinping arrived in Pyongyang on Thursday morning for a state visit to North Korea — the first by a Chinese state leader in 14 years. Experts say the move...Asia Politicsread more
Gold prices spiked in the afternoon of Asian trading hours on Thursday after a dovish U.S Federal Reserve opened the door to further rate cuts, and the 10-year Treasury yield...Metalsread more
The Fed came very close to promising a rate cut Wednesday, and now markets are focused on a possible July rate cut.Market Insiderread more
Ireland has become the main regulator enforcing rules on how big tech companies collect and process user data under Europe's privacy law called GDPR.Technologyread more
Waymo has signed a deal with Renault and Nissan to develop self-driving cars and trucks for use in France, Japan and possibly other countries in Asia, including China, the...Autosread more
It's crucial to note that the culprit behind attacks on two commercial tankers last week has not been conclusively proven.World Politicsread more
"No U.S. drone was operating in Iranian airspace today," a U.S. Central Command spokesman said, according to NBC News.World Politicsread more
The Fed left interest rates unchanged at its monetary policy meeting. The U.S. central bank did, however, drop the word "patient " from its statement and said it would "act as...Asia Marketsread more
New York-listed Alibaba is looking at a "significant stake" in the Indian smartphone maker though the size of the deal is not clear, according to the source.
Alibaba and Micromax both declined to comment when contacted by CNBC.
Negotiations between the two are still ongoing but a stake in Micromax would give Alibaba access to India's rapidly growing smartphone market.
Micromax has an 18 percent smartphone market share in India, according to market research company IDC, and has built its user base on selling high-spec budget devices. Micromax chairman Sanjay Kapoor told CNBC this year that the company produces "close to 25, 30 phones in a year" in different segments to broaden its appeal.
Alibaba has its own operating system, known as YunOS, which it is looking to grow in order to push its e-commerce services. By partnering with Micromax, Alibaba could have its operating system installed on Micromax devices in order to get a stronger foothold in India's e-commerce market which is dominated by domestic players Flipkart and Snapdeal.
Alibaba has been pushing its mobile operating system in the past few months. In February, the technology giant invested $590 million into a tiny domestic smartphone player called Meizu. Last month, Alibaba partnered with state-backed China Telecom to sell budget smartphones in the country's small cities and rural areas, in a further bid to boost its presence in untapped parts of the country.