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Sunil Mittal Re-appointed Chairman of Bharti Airtel For 5 yrs

21Aug By Press Trust of IndiaNo Comments

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Sunil Mittal Re-appointed Chairman of Bharti Airtel For 5 yrs

Sunil Bharti Mittal has been re-appointed as the Chairman of telecom giant Bharti Airtel for another five year, with effect from October 1, 2016. "Sunil Bharti Mittal has been re-appointed as the Chairman of the company for further term of five years with effect from October 1, 2016," the company said in a BSE filing, communicating the outcome of its 21st AGM. Mittal is the Founder of Bharti Enterprises, Indias one of largest conglomerates with diversified interests in telecom, insurance, real estate, agri and food, besides other ventures. The Group also has joint ventures with global leaders like Singtel, SoftBank, AXA, Del Monte amongst others. Bharti Airtel, the Groups flagship company, offers mobile, fixed broadband and digital TV solutions to over 350 million customers acros...

Mark Zuckerberg Donates $95M Facebook Shares in Charity

21Aug By NitishNo Comments

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Mark Zuckerberg Donates $95M Facebook Shares in Charity

IANS- In the first gesture to fulfill his pledge that he and his wife made last year, Facebook CEO Mark Zuckerberg has sold $95 million of the social networking giant's shares. According to a US regulatory filing, The Chan Zuckerberg Foundation and CZI Holdings LLC sold Facebook shares worth $95 million before taxes, Forbes reported on Saturday. The sales likely netted more than $85 million after capital gains taxes, the report added. The couple plans to give away no more than $1 billion worth of stock each year through 2018. Last December, Zuckerberg and his wife Priscilla Chan pledged to donate 99% of their Facebook shares - about $45 billion - to advance human potential and promote equality for children. Declaring the "Chan Zuckerberg Initiative" as they welcomed their first...

Cisco to Cut 5,500 Jobs in Shift From Switches to Software

20Aug By reutersNo Comments

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Cisco to Cut 5,500 Jobs in Shift From Switches to Software

Cisco Systems Inc said it would cut nearly 7 percent of its workforce, posting charges of up to $400 million (roughly Rs. 2,672 crores) in its first quarter, as the world's largest networking gear maker shifts focus from its legacy hardware towards higher-margin software. The gradual move to fast-growing sectors such as security, the Internet of Things and the cloud is a response to sluggish demand for Cisco's traditional lineup of switches and routers from telecom carriers and enterprise customers, amid intense competition from companies such as Huawei and Juniper Networks Inc . Savings from up to 5,500 job cuts would be reinvested into key growth areas, Cisco said. "We think this is partly an effort by (CEO) Chuck Robbins to put a stake in the ground and send a message that ...

Ola Shutting Down TaxiForSure, To Integrate Hundreds

19Aug By AnkitaNo Comments

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Ola Shutting Down TaxiForSure, To Integrate Hundreds

ANI- Taxi aggregator Ola, which acquired rival TaxiForSure a little over a year ago in a USD 200 million (roughly Rs. 1,240 crores) deal is now reportedly shutting down TaxiForSure as a separate offering, laid off 700 employees and integrating its fleet a report stated here today. "The TaxiForSure (TFS) value proposition as an economy brand for customers has been seamlessly integrated onto the Ola platform with the launch and rapid adoption of Ola Micro," Ola said in a statement. The development comes at a time when the SoftBank-backed aggregator is looking to reduce its cash burn in comparison to rival aggregator Uber. "TFS has contributed immensely towards Ola Micro's success within a short span of time. Ola Micro has expanded to over 90 cities across India and accounts for the larges...

19Aug By reutersNo Comments

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Gawker.com to Shut Down Next Week

U.S. internet publisher Gawker Media Group said on Thursday that it would shut down Gawker.com next week, ending the online news and gossip website's 14-year run. The decision comes two days after Univision Holdings Inc won a bankruptcy auction to acquire Gawker for $135 million, outbidding media company Ziff Davis LLC. Univision's winning bid for Gawker will go before a U.S. bankruptcy judge later in the day. Gawker - which also operates popular women's website Jezebel, tech blog Gizmodo and gaming website Kotaku - said near-term plans for the website's coverage and archives have not yet been finalized. "Our other sites, including Kotaku, live on, but losing the vibrant Gawker.com hurts," tweeted Stephen Totilo, editor-in-chief of Kotaku. Gawker sought bankruptcy in June after fa...

HostGator Supports ‘Make in India’ With The ‘Host In India’ Initiative

14Aug By NitishNo Comments

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HostGator Supports ‘Make in India’ With The ‘Host In India’ Initiative

HostGator India, an Endurance International Group brand and leading provider of shared, reseller and Virtual Private Server hosting solutions, has announced its support for 'Make In India' with the launch of 'Host In India,' an initiative for Indian businesses. Indian brands that are looking to establish their online presence can enhance their overall marketability through deploying Indian web hosting services powered by geo-based hosting from GPX- India's leading tier IV datacentre for faster website loading time and 99.99% uptime guarantee. Through this initiative, HostGator India aims to drive adoption of local hosting solutions amongst web designers, developers, bloggers, startups, enterprise businesses, application hosts and ecommerce sites that experience high traffic in India. Th...

IndusDiva Unveils Khadi Originals; To Be Available on Myntra

14Aug By AdityaNo Comments

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IndusDiva Unveils Khadi Originals; To Be Available on Myntra

ANI- Online ethnic wear fashion brand IndusDiva announced its association with Haresh C Shah for Mumbain Khadi Village Industries Association (MKVIA) to unveil Khadi Originals. Khadi Originals is a collection of fusion apparels which is all set to recapture the original ethos of Khadi. It is not merely a fabric; it's a thought, a reflection and above all a way of life. True to its fluid yet structured character, Khadi Originals is a classy mix of earthy elegance, minimalistic chic and subtle sophistication. Crafted for men and women with discerning tastes, the silhouettes are simple, easy and comfortable in hues that vary from earthy and monochromes to pastels. Inspired by nature, these unique creations make for all-season clothing. Khadi Originals from IndusDiva will retail a ran...

Didi’s Cheng Wei: Chinese Patriot Who Tamed Uber

12Aug By reutersNo Comments

CHINA, News

Didi’s Cheng Wei: Chinese Patriot Who Tamed Uber

Cheng Wei, 34, was once assistant to the head of a foot massage firm. Last week, his company Didi Chuxing bagged Uber's China business in a deal valuing his ride-hailing start-up at $35 billion - a second success in as many years in a gruelling battle with a rival. Investors and Didi staff say Cheng has a cool head, a keen strategic eye and a lack of ego - all pivotal in taking on and beating Uber in a two-year, multi-billion-dollar scrap for China's competitive ride-hailing market. But his leadership style is also cut-throat and tinged with nationalism, say some of those who know him. He often references China's history and military in his speeches. He will be closely watched now as he looks to turn his vast, money-losing ride-hailing company into a meaningful business. Chinese m...

Ola Launches Intra-city Rental Service With Hourly Packages

11Aug By PriyankaNo Comments

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Ola Launches Intra-city Rental Service With Hourly Packages

Taxi aggregator Ola has launched a new category to rent taxis called Ola Rentals to simplify intra-city travel with hourly packages across Ola Lux, Ola Prime (Sedan and SUV) and Ola Mini. Ola Rentals is available in 35 cities and will soon be rolled out in 100 cities across India, the company said in a statement here. It is aimed at servicing Ola Corporate customers and working executives who move from one meeting to the other during the day as well as individuals require the convenience of having a cab on disposal for diverse needs like local sightseeing, or shopping trips, it added. "Launched recently, the (Ola Rentals) category is already growing at a rapid pace and we are now taking it to the next level by introducing it for our customers on the Ola Corporate platform," Ra...

India 2nd Largest Market After US For LinkedIn

11Aug By NitishNo Comments

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India 2nd Largest Market After US For LinkedIn

IANS- Professional networking website LinkedIn on Wednesday announced that it has crossed the 100-million member mark in the Asia-Pacific region (APAC), and with 37 million members, India is its largest market in the region. Globally, India retains its spot as the second largest market after the US, a company statement said. LinkedIn has doubled its member base in the region from 50 million to 100 million in just two years. The region now represents 22 per cent of LinkedIn's global member base of over 450 million. "At this scale, LinkedIn is in an even stronger position to help members connect to economic opportunity, whether it's a new job, a promotion or other business opportunities," said Olivier Legrand, Managing Director, LinkedIn Asia Pacific and Japan, in a statement. Ch...

11Aug By reutersNo Comments

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Google Ventures CEO Bill Maris Quits

Bill Maris, the chief executive and founder of Alphabet Inc's venture capital arm GV, is leaving the company, Recode reported, citing sources. Maris, who leaves on Friday, will be replaced by GV managing partner David Krane, Recode said. on.recode.net/2b0aaNx A GV spokeswoman declined to comment on the report. GV, previously known as Google Ventures, was founded in 2009 and has invested in more than 300 companies including Uber Technologies Inc and online retailer Jet.com, according to GV's website. Alphabet's projects have seen some high-profile departures in recent months. Chris Urmson, chief technical officer for its self-driving car project, left last week, while Anthony Levandowski, product manager for the program, left earlier this year to co-found a startup. Tony Fade...

Anand Mahindra Looking To Launch Driverless Tractor

11Aug By NitishNo Comments

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Anand Mahindra Looking To Launch Driverless Tractor

Mahindra group is investing in the future of mobility with intentions to play a pioneering role in the development of driverless tractors and commercial vehicles, its Chairman Anand Mahindra today said. Amid speculations in the world whether conventional auto companies will survive in a transformed environment, he said the buzz about the future of mobility is centered around three topics -- shared mobility, role of renewable energy- powered vehicles and autonomous vehicles. "Mahindra is investing in the future of mobility by combining our innovative manufacturing capabilities with our investments in downstream platforms," he said while addressing the companys AGM here. Stressing on the groups ambitions to be prepared for the future, Mahindra said: "Everyone in the world is...