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Women are Taking the Centre Stage in Saudi Arabia

3Mar By NitishNo Comments

INSPIRATIONAL

Women are Taking the Centre Stage in Saudi Arabia

New Delhi, Delhi, India- A commercial bank in Saudi Arabia appointing a woman as a CEO; a woman becoming the dean of a renowned medical college; women and men attending the recent Comic Con event in Jeddah; Women-only gymnasiums gaining traction; celebration of first ever Women’s Day - Women in Saudi Arabia are well on their way to have similar rights as their male counterparts. The Kingdom of Saudi Arabia, with a progressive leadership & a formative Vision 2030 document is fast becoming a society well in-sync with the developments of the rest of the world. A traditional society with deep respect for its culture, values and its belief system, the Kingdom of Saudi Arabia, has an innate regard for the role of women in society. One the biggest development has been in the financial sect...

Snap’s Shares Set For Trading Pop After $3.4 Billion IPO

3Mar By reutersNo Comments

BUSINESS

Snap’s Shares Set For Trading Pop After $3.4 Billion IPO

Snap Inc's in-demand shares were set to rally on their first day of trading in New York on Thursday, after the owner of the popular Snapchat messaging app raised USD3.4 billion in its initial public offering (IPO), above its price expectations. Early indications pointed to the shares opening up at between USD22 and USD24, after the IPO priced on Wednesday at USD 17 per share. The IPO book was oversubscribed by more than 10 times, boosting the chances of a pop on the first day of trading. The New York Stock Exchange carried out a trial run last week to make sure the third-biggest technology IPO ever goes smoothly. Facebook Inc's eagerly awaited market debut in 2012 was marred by a technical glitch at rival exchange Nasdaq. After pricing its IPO at USD17 a share, the owner of the po...

Tech Groups Softbank and Foxconn to Deepen Ties With Joint Venture

26Feb By reutersNo Comments

BUSINESS

Tech Groups Softbank and Foxconn to Deepen Ties With Joint Venture

Japan's Softbank Group and Taiwan's Foxconn will soon begin operating a joint venture that deepens ties between two of Asia's biggest technology companies, they said on Friday. The move will give Foxconn, formally known as Hon Hai Precision Industry Co, a 54.5 percent stake in one of Softbank's existing subsidiaries for $600 million and comes as both groups step up investments in the technology sector and consider expansion in the United States. Under the arrangement, a subsidiary of Foxconn will buy new shares in Softbank Group Capital Apac Pte Ltd for a controlling stake, transforming what had been a wholly-owned Softbank unit into a joint venture, the companies said. The deal is expected to take effect on March 1, reducing Softbank's holding to 45.5 percent. The joint ventur...

DBS Launches Hack2Hire to Recruit 100 Techies for Hyderabad Hub

22Feb By AdityaNo Comments

News

DBS Launches Hack2Hire to Recruit 100 Techies for Hyderabad Hub

Singapore's largest bank DBS said it is planning to hire 100 skilled professionals, in emerging and disruptive technologies across cloud, machine learning and Big Data, for its Hyderabad hub. DBS has launched the recruitment drive 'DBS Hack2Hire' and collaborated with leading technology providers such as Amazon Web Services, Cloudera and Pivotal for conducting the hackathon. In a statement, DBS said that taking this new approach to recruitment, it will break banking industry norms by recruiting successful candidates through a hackathon. "The 100 new selects will join DBS Asia Hub 2 in Hyderabad, India. This coding challenge, which has already received more than 3,000 applications, is open to both fresh graduates and experienced professionals who can apply up to March 12, 2017," it...

Media Talk on Infy Corporate Governance Issues Distracting: Vishal Sikka

13Feb By reutersNo Comments

Entrepreneurs Talk

Media Talk on Infy Corporate Governance Issues Distracting: Vishal Sikka

Infosys Chief Executive Vishal Sikka said talk in media on corporate governance issues at the software services firm was "distracting" and that he had good relations with the firm's founders, including N.R. Narayana Murthy. India's second biggest IT services company, based in the tech hub of Bengaluru, has recently been in an escalating public spat with its founders and former executives, who have accused its board of lapses in corporate governance. "All this drama that has been going on in the media, it's very distracting - it takes away attention - but underneath that there is a very strong fabric that this company is based on and it is a real privilege for me to be its leader," Sikka said in response to a question at the Kotak Institutional Equities conference in Mumbai on Monday....

4Feb By PriyankaNo Comments

ACQUISITION

YASH Technologies Announces Acquisition of the Data Sciences and Analytics Arm of a Hyderabad Based IT Services Company

YASH Technologies, a leading technology services and outsourcing partner for global companies, today announced the acquisition of the Data Sciences and Analytics Arm of a Hyderabad based IT Services Company. This acquisition, while bolstering YASH’s IP footprint would add to the rich talent of Data scientists in the organization. “The acquisition strengthens YASH’s position in providing cutting edge advanced analytics, artificial intelligence, machine learning, augmented reality and Blockchain solutions and services,” said Bala Navuluri, COO, YASH Technologies. He added, “It will enable us to harness these capabilities and platforms to support our customer’s digital transformation journey.” YASH would develop and enhance the Business Process modeling framework, Transformation Platfor...

When Google CEO Sundar Pichai Thought “Abey Saale” Was Friendly Greeting

5Jan By AdityaNo Comments

News

When Google CEO Sundar Pichai Thought “Abey Saale” Was Friendly Greeting

Abey Saale is how Googles tactful and tactical chief executive Sundar Pichai had yelled out to a friend across the mess at his alma mater, IIT- Kharagpur more than two-and-half-decades back thinking its a way of greeting people. Chennai-born Pichai, who returned to his alma mater after 23 years, said his comment led to "temporarily" shutting down of the mess. "I came from Chennai. I learnt Hindi in school but I never spoke it much. So, just listening to how people are speaking, I just thought you address people this way. So one day, there was someone in the mess and I had to call him. I called him Abey Saale," he reminisced to an audience of over 3,000 people. "In the first couple of weeks, I thought you call people that way. Next thing I know is the folks in the mess were quite u...

4Jan By NitishNo Comments

ACQUISITION

HCL Completes Acquisition of Butler America Aerospace

IT services major HCL Technologies today said it has completed its USD 85 million acquisition of Butler America Aerospace. The all-cash deal, announced in October last year, will strengthen HCL Technologies' position in the aerospace and defence engineering services space. "The acquisition has been completed with effect from January 3, 2017," HCL said in a filing to the BSE. Butler Aerospace provides engineering, design services and aftermarket engineering services to US aerospace and defence customers, serving them in areas of mechanical and structural design, electrical design, tool design and aftermarket engineering services. The acquisition excludes staffing business of Butler America Inc. Butler America Aerospace had revenues of USD 85.4 million for the year ended December 31...

China Tech Giant LeEco in Talks on $1.4 Billion Funding

29Dec By reutersNo Comments

CHINA, FUNDING

China Tech Giant LeEco in Talks on $1.4 Billion Funding

Cash-strapped Chinese technology conglomerate LeEco is in talks on securing a 10 billion yuan (USD1.4 billion) deal with an unnamed strategic investor, its listed unit said. Leshi Internet Information and Technology said in a filing to the stock exchange late Wednesday that its parent company had signed a framework agreement with the investor and the two sides were still discussing the final details. It did not disclose the identity of the investor, but the China Business News cited a source familiar with the situation as saying that it was an insurance company. LeEco has been expanding aggressively in a range of businesses including online entertainment, electric and driverless cars and smartphones, but the firm's billionaire chief executive Jia Yueting warned staff last month that ...

Facebook Has Invested $250M in VR “Oculus” To Make it More Social

7Oct By AnkitaNo Comments

FUNDING

Facebook Has Invested $250M in VR “Oculus” To Make it More Social

Zuckerberg said his company has invested $250 million to back developers building new games and other virtual-reality programs for Oculus, and is vowing to double that amount. The investment will make virtual reality more social as the industry gets more crowded. Facebook's Oculus division is hoping to distinguish its offerings from other leading tech companies whose selling their VR products. At an event on Thursday, the company announced a long-awaited shipping date - Dec. 6 - for its Oculus Touch hand controllers. In a two-hour presentation, Facebook CEO Mark Zuckerberg, meanwhile, donned one of those headsets for an onstage demonstration in which he visited Mars, played virtual cards with two other people, then made a video call to his wife while standing in a digital simulation ...

Google Will Open a New Cloud Region in Mumbai

30Sep By PriyankaNo Comments

News

Google Will Open a New Cloud Region in Mumbai

Google will open a new Cloud Region in Mumbai that will help the tech giant offer its cloud platform services to developers and enterprise customers in India. Expected to be live in 2017, the local region in India will help make Google cloud platform services even faster for Indian customers, company said in a statement. The announcement was made at the Horizon event in San Francisco. However, the company did not disclose any financial details. The business-to-business (B2B) based Cloud services have also been re-branded as Google Cloud. With more than one billion end-users, Google Cloud has gained significant traction in India and across the world. Its global customers include Snap Inc (formerly SnapChat), Niantic Labs (Pokemon Go), Telus International, and Evernote, among others...

Secretive Silicon Valley Firm Palantir Accused of Bias Against Asians

27Sep By reutersNo Comments

News

Secretive Silicon Valley Firm Palantir Accused of Bias Against Asians

The U.S. Department of Labor filed an administrative lawsuit against Palantir Technologies on Monday, alleging that the data analytics and security company systematically discriminated against Asian job applicants. The Privately held firm helps government agencies track down terrorists and uncover financial fraud. It raised $880 million in funding late last year, for a $20 billion valuation, and is considered one of Silicon Valley's most secretive companies. The lawsuit alleges Palantir routinely eliminated Asian applicants in the resume screening and telephone interview phases, even when they were as qualified as white applicants. Representatives for Palantir could not immediately be reached for comment. Palantir was co-founded by Peter Thiel and Joe Lonsdale, two of Silicon Valley's...