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UAE may Launch Underwater Rail Network Between Fujairah & Mumbai

30Nov By Gauri SinghNo Comments

MIDDLE EAST, News

UAE may Launch Underwater Rail Network Between Fujairah & Mumbai

With technology growing so fast, various countries have been coming up with Hyperloop and driverless flying cars, and now, the UAE is all set to introduce a futuristic mode of transport which will be an underwater rail network. With this, the UAE has proved to be the land of innovations and setting a benchmark in the world. In the coming days, the people might be able to travel from Fujairah to the Indian city of Mumbai by undersea rail network. Along with this, there will also be exchange of goods in the form of freshwater flowing from India to the UAE and oil being exported back through pipeline as stated by Abdulla Alshehh, who is the managing director and chief consultant of the National Advisor Bureau Limited. The Bureau stated above is basically a consultancy firm based in Masd...

Mobility Sharing Firm Drivezy Secures $20 million

29Nov By Gauri SinghNo Comments

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Mobility Sharing Firm Drivezy Secures $20 million

India’s mobility sharing platform Drivezy has secured funds amounting to $20 million Series B financing round. The particular round was led by existing investor Das Capital. The round also saw participation from backers like automotive giant Yamaha, Axan Partners and IT-Farm. With this funding, the total amount of funds the company has raised so far reaches $31 million. Along with this, the startup has also inked a $100 million asset financing deal backed by Japan’s AnyPay, which will see new cars and motorbikes added to Drivezy’s fleet over the next year. Initially, the company was known as JustRide. It claims to have a fleet of around 8,000 vehicles that includes 5,000 two-wheelers (motorbikes and scooters) and 3,000 cars, which probably attracts around 37,000 customers every mo...

Wipro’s Azim Premji Bestowed with the Highest French Civilian Distinction

29Nov By Gauri SinghNo Comments

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Wipro’s Azim Premji Bestowed with the Highest French Civilian Distinction

Wipro chairman Azim Premji has been honoured with the highest French civilian distinction known as the Chevalier de la Legion d'Honneur (Knight of the Legion of Honour). He has been bestowed this honour for his contribution towards the information technology industry. Premji received the award from Alexandre Ziegler, Ambassador of France to India. “I am extremely honored by the award bestowed on me. The vibrancy of the French democracy and its diversity is an inspiration to all across the world,” Premji said. Talking about the honour, the Legion of Honour is the highest civilian award given by the French Republic for outstanding service to France which was instituted by Napoleon Bonaparte in 1802. This award is given regardless of the nationality of the recipients. “The award was b...

Cisco & Tech Mahindra to Jointly Launch Digital Tech Experience Centre

29Nov By Gauri SinghNo Comments

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Cisco & Tech Mahindra to Jointly Launch Digital Tech Experience Centre

Tech Mahindra and Cisco have together launched a state-of-the-art digital experience centre in one of the leading cities of India, Bengaluru. The facility, located at Tech Mahindra’s campus here, will showcase use cases for digitization in manufacturing, retail and smart cities such as asset visibility and yard tracking, city surveillance and incident management, smart lighting, waste management, environmental monitoring, city Wi-fi, machine connectivity and other areas. Tech Mahindra said the centre, which was inaugurated by C P Gurnani, chief executive officer and managing director, Tech Mahindra and Sameer Garde, President, Cisco India, and SAARC, would create a simulated environment of digital technology solutions to showcase joint capabilities in implementation and operations. I...

28Nov By Gauri SinghNo Comments

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Chinese Smartphone Brand Comio is Leaving India

One of the fastest growing Chinese smartphone brands in India known as Comio is reportedly quitting the Indian market. The basic reason behind the exit is that the company isn’t making money and its Chinese promoters aren’t infusing capital. "Chinese team members left India in the first week of November, 2018, abruptly and asked us from China to close the operations immediately. We have been regularly following up with them but not getting any satisfactory reply regarding settling pending issues in India,” TopWise Communications (which owns the Comio brand) India CEO Kalirona said. Also, the CEO stated that the company is trying to take legal and government authorities’ help to ensure “Chinese promoters settle each and everything and honour their commitment in India”. It was in Septem...

Home Renting Firm Airbnb Appoints Amazon veteran as CFO

27Nov By Gauri SinghNo Comments

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Home Renting Firm Airbnb Appoints Amazon veteran as CFO

Home-renting company Airbnb has hired Amazon veteran Dave Stephenson as chief financial officer (CFO), ahead of a widely anticipated initial public offering next year. Stephenson's departure was followed by the exit of another Amazon veteran, Jason Warnick, who is leaving the e-commerce giant to become CFO at online brokerage startup Robinhood. Stephenson will start in early January, Airbnb said in a statement, and will replace Laurence Tosi, who left the company in February. Stephenson, who has worked at Amazon for 17 years, was most recently vice president and CFO of the online retailer's worldwide consumer organization, which is responsible for all of Amazon's global website sales including its Prime service. Airbnb, valued by private investors at $31 billion, has in recent ...

WhatsApp chief business officer Neeraj Arora Quits

27Nov By Gauri SinghNo Comments

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WhatsApp chief business officer Neeraj Arora Quits

WhatsApp’s chief business officer, and its employee number four, Neeraj Arora said he’s leaving the messaging service as he joins a stream of top executives who have departed Facebook and its group companies in the past year. Arora was being touted to take over as WhatsApp CEO earlier this year however the role of global head of the company was given to Chris Daniels. “It is hard to believe that it has been seven years since Jan (Koum) and Brian (Acton) got me onboard at WhatsApp, and it has been one hell of a ride! It is time to move on, but I cannot be more proud of how WhatsApp continues to touch people in so many different ways every day,” Arora, an IIT- Delhi alumnus said in a Facebook post Monday. "I am confident that WhatsApp will continue to be the simple, secure and trusted ...

FreeCharge Founder Kunal Shah Rolls Out a New Venture Cred

26Nov By Gauri SinghNo Comments

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FreeCharge Founder Kunal Shah Rolls Out a New Venture Cred

Kunal Shah, the founder of digital payment company FreeCharge has rolled out his own new venture known as Cred which is a financial services platform targeting consumers with high creditworthiness. For the launch of this startup, the founder has already raised an amount of $25 million (about Rs 177 crore) in funding led by Sequoia Capital and financial technology-focussed fund Ribbit Capital. With this new startup, the consumers will be able to pay their credit card bills and get rewarded in the form of Cred Coins. The basic idea behind this new venture is to tap into the country’s growing credit card base and push products to consumers with high credit scores and offer to them rewards and benefits. “There is a lot of lack of awareness around credit card payments among a majority of...

LinkedIn Accused of Violating Data Protection Rules of 18 Million Email Addresses

26Nov By Gauri SinghNo Comments

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LinkedIn Accused of Violating Data Protection Rules of 18 Million Email Addresses

LinkedIn, the social network for the working world with close to 600 million users is being accused of violating data protection rules concerning around 18 million email addresses. These details were disclosed in a report published Friday by Ireland’s Data Protection Commissioner. This report covered activities in the first six months of this calendar year. In a list of investigations that have been reported concerning Facebook, WhatsApp and the Yahoo data breach, the DPC revealed one investigation that had not been reported before. The DPC found that LinkedIn in the US had obtained emails for 18 million people who were not already members of the social network, and then used these in a hashed form for targeted advertisements on the Facebook platform. “The complaint was ultimately a...

Eureka Forbes & Others Take Steps to Halt Deep Discounting Online

23Nov By Gauri SinghNo Comments

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Eureka Forbes & Others Take Steps to Halt Deep Discounting Online

Various companies are taking steps to halt the sale of their products at predatory prices in an effort to curb dilution of their brand equity, prevent cannibalisation of offline sales and thwart efforts to push fake products. With this, some are entering into or strengthening direct selling arrangements with online marketplaces. Companies like Sony, Apple, LG and Eureka Forbes are intensifying these measures after Flipkart and Amazon offered heavy discounts and cashback deals during their festive sales. It has been stated that such measures by companies return after two years. Eureka Forbes has taken legal action against 200 vendors for selling its products at deep discounts on e-commerce websites, warning them against making such unauthorised offers because the company has designate...

India’s NSM Selects France-based Atos to Build the Supercomputer

22Nov By Gauri SinghNo Comments

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India’s NSM Selects France-based Atos to Build the Supercomputer

France-based IT firm Atos has been chosen to build the supercomputers under India’s Rs 4500 crore National Supercomputing Mission (NSM). This is a three-year contract and Atos would be making use of its energy-efficient Direct Liquid Cooled BullSequana supercomputers. The tender to build these high-performance computers (HPC) had been floated by the Center for Development of Advanced Computing (C-DAC) in February this year. It has been stated that the contract was for all three phases of the NSM which would be running simultaneously. “In Phase I, we will be assembling three supercomputers at an outlay of Rs 68 crore. In Phase II, it will be an aggregate of 10 petaflop, but the number of computers is yet to be decided,” Hemant Darbari, director-general, C-DAC said. Atos has a major pre...

Abhijit Bose Quits Ezetap to Head Whatsapp’s India Operations

22Nov By Gauri SinghNo Comments

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Abhijit Bose Quits Ezetap to Head Whatsapp’s India Operations

The co-founder and CEO of merchants payments platform Ezetap, Abhijit Bose is quitting the company to head Facebook-owned WhatsApp's operations in India. India has been stated as Whatsapp’s largest market in terms of users. With this appointment, Bose will be the first-ever country head of the messaging app and he will join the company in early 2019. With his resignation on the other hand, Ezetap CFO Byas Nambisan will replace Bose at Ezetap as interim CEO. Following the appointment, the latter will be responsible for building WhatsApp's first full country team outside of California, based in Gurgaon. This team will focus on helping small and large businesses connect with their customers. “WhatsApp is deeply committed to India and we are excited to keep building products that help p...