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Indian Government in Talks With SoftBank For Funding 2 Lakh e-Buses

27May By Press Trust of IndiaNo Comments

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Indian Government in Talks With SoftBank For Funding 2 Lakh e-Buses

To promote electric vehicles on a mass scale, the government is holding initial talks with Japanese investment firm SoftBank for low interest funding of 2 lakh electric buses for public transport, Union Minister Nitin Gadkari said here today. India wants to cut down on a ballooning Rs 7 lakh crore crude import bill, the minister said, adding electric buses and vehicles along with ethanol and other green fuel could be the solution. "Promoting electric vehicles is priority of our government. We want electric buses, autorickshaws and other vehicles to ply in the country. We are engaged in initial talks with SoftBank for loans at low interest rate for a green project. We want to introduce 2 lakh electric buses for public transport," Road Transport and Highways Minister Gadkari said. ...

Ola and Mahindra Collaborated For EV Mass Mobility Ecosystem in Nagpur

26May By AdityaNo Comments

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Ola and Mahindra Collaborated For EV Mass Mobility Ecosystem in Nagpur

On Friday, Ola along with Mahindra announced a joint venture programme to build an electric mass mobility ecosystem in Nagpur. Devendra Fadnavis, Chief Minister of Maharashtra, and Nitin Gadkari, Minister of Road Transport, Highways and Shipping, inaugurated the multi-modal electric vehicle project and Ola Electric charging station. This project brings vehicles across different segments and will include – e-cabs, e-buses, e-rickshaws, and e-autos on one platform. A press note sent by the company states that they already have over 100 of Mahindra’s e20 plus vehicles and the rest of the fleet will consist of vehicles sources from other OEMs including Tata Motors, Kinetic, BYD, and TVS amongst others. The electric charging station was unveiled within Nagpur’s airport complex. Ola has al...

Mark Zuckerberg Gets Harvard Degree, Urges Harvard Grads to Take Risk

26May By AnkitaNo Comments

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Mark Zuckerberg Gets Harvard Degree, Urges Harvard Grads to Take Risk

Facebook founder Mark Zuckerberg returned on Thursday to Harvard University, the school he dropped out of to start the pioneering social network, to urge its graduating class to help create a new social safety net to allow creative risk-taking. The 33-year-old tech founder of the world's largest social networking company said he would never have been able to risk leaving the elite Ivy League school if he had not known that his family would have been able to support him if he failed. "There is something wrong with our system when I can leave here and make billions of dollars in ten years when millions of students can't afford to pay off their loans, let alone start a business," Zuckerberg told the crowd on a cold, drizzly day when graduates' dark academic robes stood in contrast to the ...

Google India Head Rajan Anandan Appointed IAMAI Chairman

25May By AnkitaNo Comments

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Google India Head Rajan Anandan Appointed IAMAI Chairman

Google vice-president for South East Asia and India, Rajan Anandan has been appointed new chairman of Internet and Mobile Association of India (IAMAI). He took over charge from FreeCharges co-founder and chief executive officer Kunal Shah. MakeMyTrip Chairman & Group CEO Deep Kalra has taken over as vice chairman from music app Saavn co-founder and President Vinodh Bhat. Facebook Managing Director India & South Asia, Umang Bedi has been elected as the new Treasurer of the Association. Subho Ray continues to be the President of the Association, IAMAI said in a statement. The tenure of the new council is for two years. "Anandan assumes office at a time when the industry is going through a growth trajectory with more than 400 million Internet users and with more than 300 m...

Oyo Launched Its Operation in Nepal, Target to Acquire 100 Properties in This Year

24May By AnkitaNo Comments

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Oyo Launched Its Operation in Nepal, Target to Acquire 100 Properties in This Year

Budget hotel platform Oyo has forayed into Nepal with a target of on-boarding 100 properties by the end of this year. The room aggregator, which opened its first property here, is also looking to roll out its Townhouse brand in the Himalayan nation, which of late is witnessing a tourist influx after a back-breaking earthquake in 2015. According to official statistics, of the 174,803 tourists who visited Nepal in 2016, most were from India. The entry into Nepal comes on the heels of its foray in Malaysia. The plan is to set up 100 Oyo hotels in Nepal this year. While its basic model is meant for the value- and cost-conscious traveller, Townhouse caters to those who do not mind paying slightly more for a better service. "Our core premise is right pricing and right location wit...

Elon Musk Are You Listening, No local Sourcing Required For Manufacturing in India

23May By PriyankaNo Comments

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Elon Musk Are You Listening, No local Sourcing Required For Manufacturing in India

The government today clarified that US-based electric car major Tesla will not have to source local components if it plans to set up a manufacturing unit in India. The government responded to apprehensions expressed by Tesla founder Elon Musk that the company would have to source a certain percentage of local components to set up plant here. The commerce and industry ministry through its Make in India Twitter handle stated that the foreign direct investment (FDI) policy does not mandate any such minimum sourcing of components by manufacturers. .@elonmusk With respect to news reports on launch plans of Tesla in India being delayed, please note some key clarifications#MakeInIndia pic.twitter.com/9RFICGM9Kk — Make in India (@makeinindia) May 23, 2017 As per the policy, after ma...

Paytm Starts Payments Bank, Will Offer 4% Interest Rate

23May By AdityaNo Comments

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Paytm Starts Payments Bank, Will Offer 4% Interest Rate

New Delhi, May 23- Targeting 500 million customers by 2020, digital payments firm Paytm today launched its payments bank with 4 per cent interest rate and cashbacks on deposits, zero fees on online transactions and no minimum balance requirement. Backed by Chinese firm Alibaba and Japanese conglomerate SoftBank, the company has earmarked initial investment of Rs 400 crore to build its banking network over two years. Paytm is the third entity in the country to launch a payments bank after Airtel and India Post. "RBI has given us an opportunity to create a new kind of banking model in the world. We are proud that our customer deposits will be safely invested in government bonds, and be used for nation building. None of our deposits will be converted into risky assets," Paytm Payments Bank...

AI System Can Create Fake Videos Using Audio Clips, Images

21May By AnkitaNo Comments

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AI System Can Create Fake Videos Using Audio Clips, Images

Oxford scientists have developed a new artificial intelligence system that can create fake videos of a person by using their still image and an audio clip. The system works by first identifying facial features using face-recognition algorithms. As the audio clip plays, the system then manipulates the mouth of the person in the still image so that it looks as if they are speaking. Although the results are not absolutely perfect, researchers believe that the software could soon make realistically fake videos only a single click away. "The application were thinking of is redubbing a video into another language," said Joon Son Chung at University of Oxford in the UK. In the future, the audio from news clips could be automatically translated into another language and the images upda...

French Researchers Find a Way to Unlock WannaCry Without Ransom

21May By reutersNo Comments

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French Researchers Find a Way to Unlock WannaCry Without Ransom

French researchers said on Friday that they had found a last-chance way for technicians to save Windows files encrypted by WannaCry, racing against a deadline as the ransomware threatens to start locking up victims' computers first infected a week ago. WannaCry, which started to sweep round the globe last Friday and has infected more than 300,000 computers in 150 nations, threatens to lock out victims who have not paid a sum of $300 to $600 within one week of infection. A loose-knit team of security researchers scattered across the globe said they had collaborated to develop a workaround to unlock the encryption key for files hit in the global attack, which several independent security researchers have confirmed. The researchers cautioned that their solution only works in certain ...

Ola, Uber Rides Could Get Cheaper Under India’s GST Bill

20May By RishabhNo Comments

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Ola, Uber Rides Could Get Cheaper Under India’s GST Bill

Cab rides could get marginally cheaper for customers from July 1 as the incidence of tax will come down to five per cent for bookings made on cab aggregators like Ola and Uber. Currently, a tax of six per cent is levied on rides booked through cab aggregators. "Such reduction is a welcome move for cab aggregators and consumers considering the increased demand of services of cab aggregators," Deloitte Haskins & Sells Senior Director Saloni Roy said. It shall accordingly provide a further boost to the already thriving operations of cab aggregators, she added. The introduction of services by cab aggregators has seen manifold growth due to the ease and reasonableness of prices at which the services are offered. "The GST rate on cab aggregators is proposed to be at 5 per cent...

SoftBank’s Masayoshi Son Looks For Industry Specialists For Its Investment Fund

20May By reutersNo Comments

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SoftBank’s Masayoshi Son Looks For Industry Specialists For Its Investment Fund

Deep Nishar spends more time roaming university hallways than he does corporate boardrooms. A former electrical engineer who helped develop Google's mobile phone business and grow LinkedIn's users from 30 million to half a billion, Nishar is exactly the sort of industry specialist that SoftBank Group CEO Masayoshi Son wants for his new $100 billion technology investment vehicle. Son, Japan's richest man, is expected to announce on Saturday the close of the first fundraising round for what will be the world's biggest private equity fund. Its backers, including Saudi Arabia's sovereign wealth fund and Apple, expect technology investments that will match or beat the 44% internal rate of return that SoftBank says Son has delivered by investing in internet companies in the last 18 years. ...

After Dangal Success, Indian Film Star Aamir Khans Popularity Shot Up in China

20May By PriyankaNo Comments

CHINA, News

After Dangal Success, Indian Film Star Aamir Khans Popularity Shot Up in China

Aamir Khans popularity in China shot up with the runaway success of his movie "Dangal" and now his Chinese microblogging website account has also crossed 5.86 lakh followers overtaking that of Prime Minister, Narendra Modi. The 51-year-old superstars account on Weibo, one of the most popular social websites in China, has received 5,86,591 followers till this evening. Modi, who opened the account on Weibo in 2015 before his visit to China, was the most popular Indian with 1.69 lakhs followers. He still continues to update his post with China related events. Khan account, called "Amier Han" in Chinese, was opened last month ahead of the release of the biographical sports drama, which has become a smashing hit in China grossing 500 million yuan (about USD 76 million) in 13 days to...