InfoDigger: A source of simple and sequential news

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pSemi opens new Design Center in Chennai

 

pSemi Corporation, a Murata company focused on semiconductor integration, has announced the opening of a new design centre in Chennai to support the company's growing demand for semiconductor products enabling 5G and Internet-of-Things (IoT) applications.

This office will accelerate the scalability of a strong engineering team and the development of new design innovations for cellular radio frequency (RF) front-end modules, sensor systems-on-a-chip and power management integrated circuits (ICs), a release issued by the company said.

Featuring labs and office space, the design centre is located in Guindy.

"India is emerging as the largest mobile phone manufacturing hub in the world. With our new India design centre, we want to attract top talent and further expand our engagements with customers, partners and the smartphone ecosystem," said Sumit Tomar, CEO at pSemi. "We have opened our first pSemi India design centre in Chennai, but we will soon expand into other cities. We plan to scale up rapidly; our hiring plan is limited only by the availability of talent," he added.

#pSemi #Chennai
05-March-2021
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Infosys to expand in Canada, to add 500 employees

 

Infosys, a global leader in next-generation digital services and consulting, today announced that it would be bringing 500 jobs to Calgary over the next three years, doubling its Canadian workforce to 4,000 employees by 2023. 

This expansion was announced by Alberta Premier Jason Kenney, Calgary Mayor Naheed Nenshi, along with Ravi Kumar, President, Infosys, Mary Moran, President and CEO of Calgary Economic Development and David Knight Legg, CEO Invest Alberta Corporation. 

"We are thrilled to expand our presence in Canada and advance our commitment to hiring top tech talent across major hubs. Calgary is a natural next step as part of our Canadian expansion and represents a significant and promising market for Infosys. The city is home to a thriving talent pool that the Covid-related economic downturn has impacted. We will tap into this talent and offer skills and opportunities that will build on the city's economic strengths," said Ravi Kumar, President, Infosys.

"We are pleased to see Infosys' continued growth in this region and their commitment to bringing 500 skilled jobs along with upskilling opportunities for our local workforce. This announcement is a testament to the talent and opportunity that exists in Alberta as we continue our progress towards economic recovery and growth," stated Alberta Premier Jason Kenney.

"We've spent a long time building this relationship with Infosys, working toward this huge expansion of their operations in Calgary. This is the latest proof that the plan to diversify our city's economy is working. We are focused on making sure that Calgary is a great place to make a living and a great place to make a life. That benefit stood out to Infosys, and we are excited to be partners in their Canadian growth plans," said Mayor Nenshi.

Within the last two years, Infosys has created 2,000 jobs across Toronto, Vancouver, Ottawa, and Montreal, with plans for further expansion across the country. The Calgary expansion will enable Infosys to scale work with clients in Western Canada, Pacific North West, and the Central United States across various industries, including natural resources, energy, media, retail, and communications. 

The company will hire tech talent from fourteen educational institutions across the country, including the University of Calgary, University of Alberta, Southern Alberta Institute of Technology, University of British Columbia, University of Toronto, and Waterloo.

#Canada #Infosys
04-March-2021
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Wipro joins World Economic Forum's initiative to promote racial justice, social equality

 

Technology major Wipro Limited today announced that it has joined the 'Partnering for Racial Justice in Business initiative' launched by the World Economic Forum to promote a culture of diversity, inclusion, equity and justice for people of all racial backgrounds in the workplace.

The initiative is aimed towards driving action and accountability for companies to confront racism at a systemic level, set new global standards for racial justice in business and accomplish necessary policy changes for inclusion and advancement of professionals with under-represented racial and ethnic identities, a statement issued by the company informed.

Thierry Delaporte, Chief Executive Officer and Managing Director, Wipro Limited said, "As a global brand that influences millions of lives across the world, it is our responsibility to accelerate every attempt towards equity and justice. Wipro is glad to join this important initiative. We will do everything we can to help us all rise up and, together, strive for racial justice. Wipro seeks to access as many different resources as possible, to learn from them, and introduce inclusive practices into our hiring, retention and employee growth approach. Without a doubt, we must be inclusive in our hiring process, create new platforms to engage with employees and alleviate existing racial tensions, encourage racial empathy, and cultivate a fully inclusive and welcoming workplace. We want to ensure legal protection to end discrimination. By joining the Forum's Partnering for Racial Justice in Business initiative, we hope to cross-pollinate ideas with fellow industry leaders who are philosophically aligned with this belief, and accordingly help develop a set of industry standards and best practices."

"With just 1 per cent of Fortune 500 companies led by Black chief executives, the need to tackle racial under-representation in business is urgent and obvious. To design racially and ethnically just workplaces, companies must confront racism at a systemic level, addressing not just the structural and social mechanics of their own organizations, but also the role they play in their communities and the economy at large. The Partnering for Racial Justice in Business initiative provides an effective platform for businesses to take individual and collective action towards racially and ethnically just workplaces," said Saadia Zahidi, Managing Director at the World Economic Forum.

#Wipro #WorldEconomicForum
03-March-2021
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CCI approves proposed merger of NAM Estates and Embassy One Commercial Property Developments into Indiabulls Real Estate

 

The Competition Commission of India (CCI) has approved the proposed merger of NAM Estates and Embassy One Commercial Property Developments into Indiabulls Real Estate.

The proposed combination envisages the merger of NAM Estates Private Limited (NAM Estate) and Embassy One Commercial Property Developments Private Limited (EOCPDPL) into Indiabulls Real Estate Limited (IBREL).

The proposed combination will be carried out through a series of inter-connected steps viz.: (i) certain identified assets, securities and/or investments of certain entities of the Embassy group will be transferred to Embassy Group entity(ies); (ii) certain third-party investors will swap their shareholding in these identified assets, securities and/or investments of certain entities of the Embassy group, for a shareholding in NAM Estates and EOCPDPL; (iii) the restructured NAM Estates and EOCPDPL will merge with and into IBREL. and IBREL will issue shares to all existing shareholders of NAM Estates and EOCPDPL.

NAM Estates is engaged in the business of real estate development of commercial and residential assets and other related activities. NAM Estates belongs to the Embassy group of companies.

EOCPDPL is engaged in the business of providing common area maintenance services to the construction and development of real estate projects (both residential and commercial) and other related activities. EOCPDPL belongs to the Embassy group of companies.

IBREL is a publicly listed, real estate company in India. Geographically, the company’s strategic focus is in key markets of Mumbai Metropolitan Region and National Capital Region.

#CCI
25-February-2021
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Embargo lifted on grant of Government Business to Private Banks,Govt

 

The Government has lifted the embargo on private sector banks (only a few were permitted earlier) for the conduct of Government-related banking transactions such as taxes and other revenue payment facilities, pension payments, small savings schemes, etc, a release issued by the Ministry of Finance said today.

This step aims to further enhance customer convenience, spur competition and higher efficiency in the standards of customer services. Private sector banks, which are at the forefront of imbibing and implementing the latest technology and innovation in banking, will now be equal partners in the development of the Indian economy and in furthering the social sector initiatives of the Government, the release stated.

With the lifting of the embargo, there is now no bar on RBI for authorization of private sector banks (in addition to public sector banks) for Government business, including Government agency business. The Government has conveyed its decision to RBI, the release added.

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The Government has lifted the embargo on private sector banks (only a few were permitted earlier) for the conduct of Government-related banking transactions such as taxes and other revenue payment facilities, pension payments, small savings schemes, etc.

This step is expected to further enhance customer convenience, spur competition and higher efficiency in the standards of customer services. Private sector banks, which are at the forefront of imbibing and implementing latest technology and innovation in banking, will now be equal partners in development of the Indian economy and in furthering the social sector initiatives of the Government.

With the lifting of the embargo, there is now no bar on RBI for authorization of private sector banks (in addition to public sector banks) for Government business, including Government agency business. The Government has conveyed its decision to RBI.

#RBI #Bank
24-February-2021
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Accounts of certain banks to be closed from 1st April 2021

 

Accounts of certain banks that have undergone merger recently will be closed from the 1st April 2021, the RBI has stated.

These banks are Dena Bank, Vijaya Bank, Allahabad Bank, Corporation Bank, Oriental Bank, Syndicate Bank and United Bank.

So the Cheques of these banks will be outdated and will not be accepted from 1st April 2021 and pay-out will not be done. 

The customers of these banks should secure the new cheque books at the earliest.

#RBI
24-February-2021
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CCI approves acquisition of Tata Communications Limited by Panatone Finvest Limited

 

The Competition Commission of India (CCI) approved the acquisition of Tata Communications Limited (“TCL”) by Panatone Finvest Limited (“Acquirer”) under Section 31(1) of the Competition Act, 2002, today.

The Proposed Combination envisages the proposed acquisition of such shareholding not exceeding 26.12 per cent by the Acquirer in the Target (“Proposed Combination”). As a result of the Proposed Combination, the Acquirer Group / Tata Group would increase its shareholding from 48.87 per cent to such shareholding not exceeding 74.99 per cent.

The Acquirer is a Systemically Important Non-Deposit Taking Core Investment Company (“CIC-ND-SI”) registered with the Reserved Bank of India and is a subsidiary of Tata Sons and belongs to the Tata Group.

TCL is part of the Tata group and is a facilities-based service provider of a broad range of integrated communications services. It generates revenue from three business segments - wholesale voice, enterprise and carrier data and others. In India, TCL is, directly and indirectly through its subsidiaries, engaged in the following activities:

  1. International Long-Distance services (“ILD”) – voice;
  2. National Long-Distance services (“NLD”) – voice;
  3. Undersea cable systems (“UCS”);
  4. Internet Service Provider (“ISP”), offering connectivity, messaging, Internet telephony; and
  5. Enterprise business providing valued added services

#TataCommunicationsLimited #CCI
23-February-2021
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Vistara adds Germany to its map

Vistara, inaugurated its non-stop flights between Delhi and Frankfurt, under the travel bubble agreement between India and Germany. The inaugural flight, operated by Vistara’s brand-new Boeing 787-9 Dreamliner, departed Delhi at 0330 hours (IST) today and landed in Frankfurt at 0755 hours (CET). The airline will fly between the two cities twice a week – on Thursdays and Saturdays.

Vistara’s Chief Executive Officer, Mr Leslie Thng, said, “The launch of our services to Frankfurt is another important step ahead in our commitment towards growing our global network and strengthening our presence in Europe. As one of the world’s busiest aviation hubs, Frankfurt promises great opportunities for India’s best airline to grow in the global market. We are sure that travellers will appreciate having the choice of flying India’s favourite airline on this route.”

In a tweet, Frankfurt Airport said,

"In these times, there can’t be enough good news. That’s why we are very happy to welcome a new airline with AirVistara at Frankfurt Airport!"

Sector - Delhi (DEL) - Frankfurt (FRA)
Flight No. - UK 025
Days of Operation - Thursday, Saturday
Departure - 0330 Hrs
Arrival - 0755 Hrs

Sector - Frankfurt (FRA) – Delhi (DEL)
Flight No. - UK 026
Days of Operation - Thursday, Saturday
Departure - 1240 Hrs
Arrival - 0050 Hrs (+1)

#Frankfurt #Vistara
19-February-2021
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Amazon India to begin manufacture of Electronic Devices in India

 

Union Minister for Electronics and Information Technology Ravi Shankar Prasad today held a virtual meeting with Amit Agarwal, Amazon's Global Senior Vice President and Country Head for India.

Various issues related to the digital sector were discussed during this meeting. After this meeting, Amazon India has announced the commencement of manufacturing of electronics products from India. To begin with, Amazon is going to start manufacturing Amazon Fire TV stick from India.

Speaking on the occasion Union Minister Ravi Shankar Prasad said, "India is an attractive investment destination and is poised to become a major player in the global supply chain in the electronics and IT products industry. Our Government's decision to launch a Production Linked Incentive (PLI) Scheme has received a tremendous response globally. We welcome Amazon's decision to set up a manufacturing line in Chennai, as it will enhance domestic production capacities, and create jobs as well. This will further our mission of creating an AatmaNirbhar Bharat which is digitally empowered."

Amazon will commence its manufacturing efforts with contract manufacturer Cloud Network Technology, a subsidiary of Foxconn in Chennai and start production later this year. The device manufacturing program will be able to produce hundreds of thousands of Fire TV Stick devices every year, catering to the demands of customers in India. Amazon will continuously evaluate scaling capacity to additional marketplaces/cities depending on the domestic demand.

The IT Minister wrote on Koo- "Under the leadership of PM Narendra Modi, electronics manufacturing in India has recently attracted some of the biggest investments from global giants. Happy to share Amazon India is the latest to join this success story of India."

The Minister has also asked Amazon India to help in taking products made by India's artisans and Ayurvedic products to global markets through eCommerce Platform. He said, "Amazon is a global company but Amazon India must evolve as a truly India company deeply connected with Indian business community and culture."

#Amazon #RaviShankarPrasad #Chennai
16-February-2021
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TATA Motors gets new CEO and MD

 

Tata Motors Limited has announced that Mr Marc Llistosella will be taking over as Chief Executive Officer and Managing Director of the company effective 1st July 2021.

Mr N Chandrasekaran, Chairman, Tata Motors Limited said: "I am delighted to welcome Marc to Tata Motors. Marc is an experienced automotive business leader with deep knowledge and expertise in Commercial Vehicles over his illustrious career and has extensive operational experience in India. Marc will bring this experience to take the Tata Motors Indian business to even greater heights."

Mr Llistosella was most recently the President and CEO of Fuso Truck and Bus Corporation and Head of Daimler Trucks in Asia. He was earlier the MD and CEO of Daimler India Commercial Vehicles Pvt Ltd. 

Commenting on his appointment Mr Llistosella said, "I am delighted to become a part of the unique Tata family. Having been bonded to India for so many years, a new exciting chapter is now opened. We would jointly awaken the potential of Tata Motors."

Mr Guenter Butschek has informed his desire to relocate to Germany at the end of the contract for personal reasons. He has kindly accepted the request of the Board of Tata Motors to continue as the MD & CEO till 30th June 2021.

Mr Chandrasekaran added: "I would like to thank Guenter for leading Tata Motors successfully over the last 5 years.

#TataMotors
13-February-2021