Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

FACEBOOK INC

(FB)
  Report
Real-time Estimate Quote. Real-time Estimate Cboe BZX - 10/27 10:39:52 am
316.555 USD   +0.24%
10:12aToday on Wall Street: It’s a numbers game
09:53aFacebook Internal Document Disclosures Under FTC Scrutiny
MT
08:31aAnt Group-backed Paytm revises IPO target to $2.44 billion
RE
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Facebook : India expects tech cos will not use encryption as 'excuse'- official says

09/28/2021 | 07:18am EDT
A man walks past a hoarding of the WhatsApp application installed at a skywalk in Mumbai

NEW DELHI (Reuters) - India expects that technology companies will not use encryption as an excuse to hold up investigations and will play their part in bringing criminals to justice, the top government official in India's technology ministry said on Tuesday.

India earlier this year introduced rules that require private messaging apps such as WhatsApp to divulge the originator of disinformation when asked, a move that the Facebook-owned company says will force it to break end-to-end encryption.

"Encryption is a welcome thing most of the time... (but) when it is necessary to come to the assistance of law enforcement agencies to bring perpetrators of wrongdoing to justice then we expect that encryption will not be held up as a silly excuse to deny that," Ajay Prakash Sawhney, the secretary at India's IT Ministry, speaking at the virtual Global Fintech Fest conference, said.

The secretary did not name any messaging app.

His comments come at a time WhatsApp has challenged India's new IT rules in court saying the regulations will lead to a "dangerous invasion of privacy" and are "unconstitutional".

WhatsApp did not respond to a Reuters' request seeking comment on Sawhney's remarks.

The outcome of the court case is key to WhatsApp's future in India, its biggest market with over 500 million users and where it is betting big on payments and financial services to expand its business.

WhatsApp launched payments in India last year and competes with the likes of Ant Group-backed Paytm and Walmart's PhonePe for a slice of the country's digital payments market that is expected to grow at an average 27% annual rate over five years to reach $95.7 trillion by the fiscal year 2024-25.

Separately, WhatsApp's India head Abhijit Bose also participated in the Global Fintech Fest event, where he showcased the company's financial inclusion push, such as pensions and insurance, in India.

(Reporting by Sankalp Phartiyal. Editing by Jane Merriman)

By Sankalp Phartiyal


ę Reuters 2021
All news about FACEBOOK INC
10:12aToday on Wall Street: It’s a numbers game
09:53aFacebook Internal Document Disclosures Under FTC Scrutiny
MT
08:31aAnt Group-backed Paytm revises IPO target to $2.44 billion
RE
07:24aSOCIAL BUZZ : Wallstreetbets Mixed Wednesday Pre-Bell as Newly-Added Robinhood Markets See..
MT
05:42aU.S regulators examining Facebook's disclosures - WSJ
RE
04:49aInvesco Launches ESG-Weighted QQQ ETF in Europe
MT
04:09aNORTH AMERICAN MORNING BRIEFING : Stock Futures -3-
DJ
03:01aØrsted to present results for the first nine months on 3 November
DJ
01:37aShort-term yields leap with inflation, China tech drops
RE
10/26Twitter avoids revenue hit from Apple privacy changes
RE
More news
Analyst Recommendations on FACEBOOK INC
More recommendations
Financials (USD)
Sales 2021 118 B - -
Net income 2021 39 887 M - -
Net cash 2021 61 767 M - -
P/E ratio 2021 22,7x
Yield 2021 -
Capitalization 879 B 879 B -
EV / Sales 2021 6,94x
EV / Sales 2022 5,62x
Nbr of Employees 68 177
Free-Float 84,2%
Chart FACEBOOK INC
Duration : Period :
Facebook Inc Technical Analysis Chart | FB | US30303M1027 | MarketScreener
Technical analysis trends FACEBOOK INC
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 52
Last Close Price 315,81 $
Average target price 406,05 $
Spread / Average Target 28,6%
EPS Revisions
Managers and Directors
Mark Elliot Zuckerberg Chairman & Chief Executive Officer
David M. Wehner Chief Financial Officer
Michael Todd Schroepfer Chief Technology Officer
Atish Banerjea Chief Information Officer
Sheryl Kara Sandberg Chief Operating Officer & Director
Sector and Competitors
1st jan.Capi. (M$)
FACEBOOK INC15.61%878 507
KUAISHOU TECHNOLOGY0.00%58 214
TWITTER, INC.13.44%48 916
MATCH GROUP, INC.7.94%46 079
BUMBLE INC.0.00%6 606
GREE, INC.57.52%1 731