Friday, March 29

Author: Priyanka

Indian Government start tracking system for Lost Mobiles next month
INDIA

Indian Government start tracking system for Lost Mobiles next month

The Indian government will launch a technology solution next month to enable detection of lost or stolen mobile phones that are operating in the country, an official said to Pixr8 News. The tracking system would make the detection of stolen mobile phones possible even if the SIM card is removed or unique code IMEI number is changed, the official revealed. The Centre for Development of Telematics (C-DoT) is ready with the technology and the service is expected to be launched in August. "C-DoT is ready with the technology. The telecom department will approach the minister for its launch after the Parliament session. It should be launched in the next month," a DoT official told Pixr8 News. The ongoing Parliament session will run till July 26. The Department of Telecom (DoT) ha...
Amazon founder Bezos finalizes divorce with $38 bn settlement
News

Amazon founder Bezos finalizes divorce with $38 bn settlement

Amazon founder Jeff Bezos and MacKenzie Bezos finalized their divorce Friday to the tune of a USD 38-billion settlement. Under the agreement, MacKenzie Bezos, 49, will receive approximately 19.7 million Amazon.com shares, giving her a four percent stake in the company valued at USD 38.3 billion, and landing her richest woman in the world. Jeff Bezos, 55, will retain a 12 percent stake and remain the world's richest man. MacKenzie Bezos has said that she would give all of her stake in The Washington Post and the space exploration firm Blue Origin to her husband as well as voting control of her remaining Amazon stock. She has also promised to donate half her fortune to charity, joining the ranks of the world's ultra-wealthy philanthropists as a signatory of the Giving Pledge. ...
Fintech startup Propelld raises $2 million funding
FUNDING

Fintech startup Propelld raises $2 million funding

A strategic Education financing startup, Propelld which enables student education loan has raised $2 million in Series A funding from Stellaris Venture Partners and Indian Quotient. Propelld, a prominent name in a fin-tech startup was founded in 2017 by Bibhu Prasad Das, Brijesh Samantaray and Victor Senapaty. Based in Bengaluru, Propelld helps in financing education of students pursuing vocational training courses in areas like machine learning, hospitality management, etc. Propelld has a wide network of tie-up with around 150 educational institutes across India. They raised a seed series round from IAN in 2018. AAS Regina Legal, assisted Propelld through the entire lifecycle of deal commencing from structuring the transaction, drafting and negotiating the term sheet transa...
Logistics startup Freight Tiger raises $8 million funding
FUNDING

Logistics startup Freight Tiger raises $8 million funding

Logistics technology start-up Freight Tiger raises USD 8 million (about Rs 55 crore) from investors, led by Lightspeed Venture Partners along with Alsthom Industries and Pawan Munjal Family Trust. The Mumbai-based business-to-business firm said after the fresh funding round, it plans to expand product and technology through artificial intelligence (AI) as well as machine learning and build industry-specific AI extensions on the platform. "The current fundraising round and investors' confidence strengthen our vision to build an operating system that powers the entire logistics and freight ecosystem," Freight Tiger Chief Executive Officer and founder Swapnil Shah said in a statement. Lightspeed India Managing Director Bejul Somaia said in the past couple of years, there has been ra...
Ways to Improve Your Lifestyle in 2019
BLOGS

Ways to Improve Your Lifestyle in 2019

Maybe it’s just us, but it seems as if every time you turn on the news these days, people are struggling more than ever before. Everyone is at odds with one another, our environment is in jeopardy, and stress feels like it’s omnipotent. The most important thing to realize in times like this is that the only thing you can control is you. It’s actually quite liberating once you embrace this, as life seems a lot less intimidating. Don’t let this year get the better of you. All you need is some inspiration on ways to improve your lifestyle in 2019 and, for that, we’ve got your back...well, really, your soul. Embrace Mindfulness This can seem like a bunch of new age hooey depending on your viewpoint, but the importance of mindfulness has been proven time and time again. With roots in Bud...
HCL Tech completes acquisition of IBM Products
ACQUISITION

HCL Tech completes acquisition of IBM Products

HCL Technologies Monday said it has completed the planned acquisition of select IBM products for security, marketing, commerce, and digital solutions. Last year in December, HCL Technologies said it will acquire select IBM software products for USD 1.8 billion (over Rs 12,700 crore) in an all-cash deal. It's expected to close by mid-2019 after completion of applicable regulatory reviews. In a statement, HCL Technologies announced the close of the said acquisition. "As part of the deal's close, HCL takes full ownership of the research and development, sales, marketing, delivery, and support for AppScan, BigFix, Commerce, Connections, Digital Experience (Portal and Content Manager), Notes Domino, and Unica," the statement said. HCL also said it is formally introducing HCL Softwa...
Facebook to make Jobs, Credit ads searchable for US users
USA

Facebook to make Jobs, Credit ads searchable for US users

Facebook says it will make advertisements for jobs, loans and credit card offers searchable for all US users following a legal settlement designed to eliminate discrimination on its platform. The plan disclosed in an internal report Sunday voluntarily expands on a commitment the social media giant made in March when it agreed to make its US housing ads searchable by location and advertiser. Ads were only delivered selectively to Facebook users based on such data as what they earn, their education level and where they shop. The searchable housing ads database will roll out by the end of 2019, Facebook says, and the employment and financial product offerings databases to be available within the next year. Targeted ads tailored to individuals are Facebook's bread and butter accou...
BS-VI transition lead to dumping of old Two Wheelers in India
Automobile

BS-VI transition lead to dumping of old Two Wheelers in India

New Delhi: Terming the transition to Bharat Stage VI (BS-VI) emission norms from April next year as "joker in the pack", Bajaj Auto Ltd has cautioned that there could be dumping of old BS-IV stock in the domestic market, triggering an "unwarranted price war" in the second half of the ongoing fiscal. In its Annual Report for 2018-19, the Pune-based firm said while its motorcycles, three-wheelers and quadricycles will be "fully BS-VI compliant not just on April 1, 2020 but some months earlier, it is difficult to anticipate the state of BS VI readiness of our competitors". "For the industry as a whole, we believe that the joker in the pack will be the tough Bharat Stage VI, or BS VI, emission norms that will come into play from 1 April 2020," the company wrote to its shareholders. ...
Google Maps launches ‘Stay Safer’ feature in India
INDIA

Google Maps launches ‘Stay Safer’ feature in India

Google Maps has introduced an India-first 'Stay Safer' feature for users that will alert and notify users traveling in taxis and auto-rickshaws when their vehicle goes off-route. The feature will also allow users to share the live status of their trips with family and friends, Google said in a statement. Indian users will be able to use the new feature on their Android phones with the latest version of Google Maps, it added. "Through our extensive research across India, we found that a lot of people limit their mobility due to safety-related concerns. To address this, we are launching another India-first feature that will deliver a more relevant and reliable experience to our users," Google Maps Product Manager Amanda Bishop said. She added that the company is committed to bri...
Payment Data related Info should be Stored in India: RBI
INDIA

Payment Data related Info should be Stored in India: RBI

The Reserve Bank of India said all India related payments data must be stored only in India and data processed abroad will have to be brought back to the country within 24 hours. "The entire payment data shall be stored in systems located only in India," the RBI said in its FAQs on certain implementation issues raised by the Payment System Operators (PSOs). The RBI had issued a directive in April 2018 on 'Storage of Payment System Data'. It had advised all system providers to ensure that within a period of six months, the entire data relating to payment systems operated by them is stored in a system only in India. The FAQs further said there is no bar on the processing of payment transactions outside India if so desired by the PSOs. "However, the data shall be stored only in I...
True North sells 7.39% stake in Aster DM Healthcare for $64.7million
Market

True North sells 7.39% stake in Aster DM Healthcare for $64.7million

Private equity firm True North has sold 7.39 percent stake in Aster DM Healthcare worth over $64.7 million (Rs 448 crore) through open market transactions. A total of 3.73 crore shares, amounting to 7.39 percent stake, were offloaded by True North Fund III-A translating into a $64.7 million transaction, according to bulk deal data available on NSE. According to the shareholding pattern available on India's Bombay stock exchange (BSE), at the end of March quarter, True North III A, held 8.23 percent stake in Aster DM Healthcare, which runs hospitals in India and the Middle East. In separate transactions, HDFC Mutual Fund bought 83 lakh shares of Aster DM for Rs 99.6 crore, Tata AIA Insurance purchased 50 lakh shares worth Rs 60 crore, while Fidelity Management and Ontario Pension ...
Capgemini will Acquire Altran Technologies For $4.1 billion
ACQUISITION

Capgemini will Acquire Altran Technologies For $4.1 billion

Paris and Neuilly-sur-Seine, June 24, 2019 – World's leading IT consulting company Capgemini have entered into an agreement whereby Capgemini is to acquire Altran for $4.1 billion (€3.6 billion) excluding net financial debt of €1.4 billion The acquisition is approved by the Boards of Directors of Capgemini and Altran. Capgemini has also acquire 11% shares of Altran capital from a group of shareholders led by Apax Partners. Paul Hermelin, Chairman and Chief Executive Officer of the Capgemini Group, said, “This proposed combination enables Capgemini to take the lead in a very promising market segment what we call ‘Intelligent Industry’ or the digital transformation of industrial and tech companies. By joining forces, we are positioning ourselves as a clear strategic partner to assist ...