BUSINESS | Pixr8 News

Infosys Finacle Partnered Huawei to Develop a Financial Cloud Solution

2Sep By Press Trust of IndiaNo Comments

BUSINESS

Infosys Finacle Partnered Huawei to Develop a Financial Cloud Solution

Infosys Finacle today said it has partnered Huawei to develop a financial cloud solution that will enable banks globally to accelerate digital transformation while keeping technology costs under control. Infosys Finacle is a part of EdgeVerve Systems, a wholly owned subsidiary of Infosys. The highly available platform will allow customers to run Finacle suite of applications on a private cloud network, delivering considerable performance, maintenance and total cost of ownership advantages, a statement said. No financial details of the partnership were disclosed. The solution will provide enhanced agility and quick service rollout, by enabling elastic, on-demand and secure computing resource pools, while supporting all-round management and service automation, it added. The so...

Tata Group Tie-up With Yale University For Research & Development and Funding

29Aug By AnkitaNo Comments

BUSINESS

Tata Group Tie-up With Yale University For Research & Development and Funding

Indian conglomerate Tata Group and US prestigious Yale University have launched a collaboration that will focus on promoting research and its application in fields like network science, data science, healthcare and microbiome research. Tata has committed to fund the alliance over five years. However, the company did not disclose the financial details. The project would foster an intellectual exchange between the university and Tata Sons, Tata Consultancy Services and Tata Chemicals. "The initial aim of the alliance is to expand research and its application in fields ranging from network science to data science to healthcare. During each year of the agreement, Yale will also host visiting Tata scholars, who will actively participate in the research projects," Yale said in a statement is...

22Aug By AnkitaNo Comments

BUSINESS

Gionee to Spend Rs 400 Cr on Marketing

Handset maker Gionee will spend around Rs 400 crore on marketing and branding activities over the next few months to capitalise on the festive season demand. The Chinese company, which plans to launch four new smartphones by mid-October, also aims to expand its market share in India to 7-10 per cent by next March. "We had earmarked a budget of Rs 600 crore this year and we have utilised one-third of it till now. About Rs 200 crore will be pumped in the festive season and the remaining amount will be used in the latter part of the fiscal towards various marketing and branding efforts," Gionee India MD and CEO Arvind Vohra said. He added that the company will also launch 4 smartphones, priced between Rs 9,999 and Rs 24,999 by mid-October. Gionee India has also signed up Bollywood act...

Home-Grown Jivi Mobiles to Invest Rs 200 Cr in Mobile Manufacturing

22Aug By AdityaNo Comments

BUSINESS

Home-Grown Jivi Mobiles to Invest Rs 200 Cr in Mobile Manufacturing

Home-grown mobile phone maker Jivi Mobiles plans to invest up to Rs 200 crore in setting up a new manufacturing unit in Lonavala with initial production capacity of 5 lakh units per month. "We are selling around 3-3.5 lakh feature phones per month. By Diwali, we expect to reach sales of 6 lakh units a month. Based on demand, we expect to sell 10 lakh units per month by 2017-18 for which we are setting up additional plant in Lonavala with investment of Rs 180-200 crore," Jivi Mobiles CEO Pankaj Anand said. Jivi at present has a mobile assembly unit in Delhi where it produces 3-3.5 lakh mobile feature phones per month. "We could have opted for a contract manufacturer but due to issue of quality control and supply issues, we have started our own unit in Delhi with investment of Rs 150 cr...

Apple To Boost China Investments as Demand Slows

19Aug By reutersNo Comments

BUSINESS, CHINA

Apple To Boost China Investments as Demand Slows

Apple Inc will boost its investment in China, one of its largest but increasingly challenging markets, and build its first Asia-Pacific research and development center in the country, Chief Executive Tim Cook said on Tuesday. Cook made the pledge during a trip to China, at least his second in four months, as demand for Apple's iPhones has plummeted in the world's second-largest economy and the government remains wary about foreign technology. Apple's new research and development center will be built by the end of the year, Cook told Vice Premier Zhang Gaoli, one of China's most senior officials, according to CCTV, the official Chinese state broadcaster. The center will unite Apple's engineering and operations teams in China and is also intended to deepen the company's ties to part...

Tatas Record $103-Bn FY16 Revenue; Investment at $9-Bn: Cyrus Mistry

30Jul By PriyankaNo Comments

BUSINESS

Tatas Record $103-Bn FY16 Revenue; Investment at $9-Bn: Cyrus Mistry

Tata Group invested USD 9 billion in its businesses globally in 2015-16, even as its worldwide revenue fell marginally to USD 103 billion due to commodity market slowdown and volatile currencies among other reasons, the diversified conglomerates chief Cyrus Mistry said today. Addressing the Annual Group Leadership Conference (AGLC) of the steel-to-software conglomerate, Mystry also announced a new leadership competency model based on key competencies to develop and identify leaders within the group firms and outlined a new framework focussed on happiness at work. The total investments by the over 100 group companies in the last three years total to over USD 28 billion, said Mistry, Chairman of the main holding company Tata Sons Ltd. Addressing the top leadership and senior mana...

Microsoft Posts $3.1 Billion in Profit, a Year After Big Loss

21Jul By NitishNo Comments

BUSINESS

Microsoft Posts $3.1 Billion in Profit, a Year After Big Loss

AFP, SAN FRANCISCO: Microsoft said Tuesday it posted a profit of $3.1 billion in the just-ended quarter, swinging into the black a year after hefty charges from writing off mobile phone assets. "This past year was pivotal in both our own transformation and in partnering with our customers who are navigating their own digital transformations," said chief executive Satya Nadella. The profit in the tech giant's fourth fiscal quarter was nearly identical to the loss from a year earlier, when it took charges of more than $7 billion to reflect the lower value of the Nokia mobile phone division it had acquired. Revenue dipped to $20.6 billion from $22.2 billion in the same period a year ago. Overall, the results were better than most forecasts and sparked an after-hours gain of more than 3% f...

Year’s Biggest Tech IPO- Line Launch Goes Well

18Jul By PriyankaNo Comments

BUSINESS

Year’s Biggest Tech IPO- Line Launch Goes Well

Japan's Line Corp saw its shares rocket on their Tokyo debut, extending a strong start in New York the day before, and taking the value of the messaging app firm to $8.6 billion in the year's biggest tech IPO. The operator of the world's seventh most-used messaging app listed first in New York in a move widely seen as a sign of determination to challenge global peers and eventually expand beyond strongholds of Japan and Southeast Asia. However, Line's 218 million global monthly active users pale in comparison to the 1 billion of market-leader WhatsApp and 900 million of Messenger, both owned by Facebook Inc. Tencent Holdings Ltd's WeChat, which dominates in China, has 697 million. "We're providing the same kind of services as Facebook and Google, the internet giants of the world," Chi...

Lyft, Ola’s Global Partner Finally Steps Out Of US

12Jul By RishabhNo Comments

BUSINESS

Lyft, Ola’s Global Partner Finally Steps Out Of US

Ola's global partner Lyft Inc. now ready to open up outside its home US. The second-largest US ride-hailing company will "very likely" expand to other countries, said John Zimmer, the president and co-founder of Lyft. Against its rival Uber, Lyft has so far focused only on US, while Uber expands in several countries of the world. The smaller San Francisco startup is defending its home turf from Uber partly by spending aggressively on marketing, including promotions targeted at riders and drivers in major US cities. Speaking onstage at the Fortune Brainstorm Tech conference in Aspen, Colorado, Zimmer didn't specify when the company might expand or where it plans to go. A Lyft spokesman declined to comment. Lyft's global alliance includes China's Didi Chuxing, India's Ola and Sou...

11Jul By RishabhNo Comments

BUSINESS

Amazon Crosses 1 Lakh Sellers On Its Platform

PTI: E-commerce firm amazon.in has crossed one lakh sellers on its platform during April-June quarter, witnessing a growth of over 250% year-on-year. "Since our launch in June 2013, we have been working extensively to meet different business requirements of sellers and help them grow their business profitably online," said Gopal Pillai, General Manager and Director Seller Services, Amazon India. Seller initiatives include extensive education and skilling programmes, offering Fulfilment By Amazon wherein amazon.in packs, ships and delivers products to customers, manages returns and does customer service on behalf of the sellers, and other assisted shipping services. Amazon is also giving sellers access to over 304 million active customers through the Amazon Global Selling programme. "Ove...

Paytm To Help Small Merchants By Lending Money

11Jul By RishabhNo Comments

BUSINESS

Paytm To Help Small Merchants By Lending Money

Mobile payments and commerce platform Paytm said it has tied up with financial institutions to facilitate collateral-free working capital loans of up to Rs 1 lakh for small merchants and service providers like General store owners and auto drivers. The credit profile of the merchants, based on earlier transactions, will be used for screening process. The screening will be done by third-party financial institutions including Capital Float, Aditya Birla Finance and Capital First. "Chances of getting a loan increases as the merchants' usage of Paytm increases since there is more data available for underwriting," said Kiran Vasireddy, senior vice-president at Paytm. The move will help Paytm achieve its objective of tapping the under-banked and unbanked segments of the population and bring...

HDFC Bank To Focus On Digital Platform For Substantial Growth

10Jul By RishabhNo Comments

BUSINESS

HDFC Bank To Focus On Digital Platform For Substantial Growth

PTI: Private sector HDFC Bank plans to focus on digital platforms in rural and semi-urban markets to achieve sustained growth in the coming years. The bank is well positioned to continue to grow faster than the banking sector both in retail and wholesale segments, HDFC Bank said in its annual report for 2015-16. According to the report, "over the next couple of years, the bank will leverage on its distribution strength and digital platforms especially in the rural and semi-urban parts of the country for a more sustained growth." During the year, the bank introduced digital innovations including loans at ATMs, missed called recharge and 10 second personal loan. The report further said the bank will continue its focus on five core values of customer focus, operational excellence, pro...