by admin | May 25, 2021 | Branding, Business, Commodity Market, Investing, Large Enterprise, Marketing Basics, Markets, Online Marketing, Social Media, Technology
Rivian Automotive
San Francisco : US online retail giant Amazon is leading a $700-million funding round for electric truck startup Rivian Automotive, Rivian has said.
The latest funds will help produce its first all-electric vehicles — the R1T pickup truck and the seven-seat R1S SUV, which were revealed in the November Los Angeles Auto Show, Xinhua news agency reported.
“This investment is an important shift to sustainable mobility,” said RJ Scaringe, Rivian founder and CEO on Friday.
Scaringe said it was expected to deliver its R1T and R1S SUV to customers by late 2020. “We’re inspired by Rivian’s vision for the future of electric transportation,” said Jeff Wilke, Amazon CEO Worldwide Consumer.
The two vehicles will have up to more than 400 miles (about 644 km) of range with extraordinary performance, off-road capability and utility, said the auto company.
—IANS
by admin | May 25, 2021 | Investing, Markets, Social Media, Technology
San Francisco : Google will invest $13 billion in building new data centres and offices in over a dozen states in the US in 2019, the company’s CEO Sundar Pichai has said.
In a blog post late on Wednesday, Pichai said the investment would create tens of thousands of new jobs.
“Last year, we hired more than 10,000 people in the US and made over $9 billion in investments.
“We’re now announcing over $13 billion in investments throughout 2019 in data centres and offices across the US, with major expansions in 14 states,” Pichai wrote.
This would enable the creation of more than 10,000 new construction jobs in Nebraska, Nevada, Ohio, Texas, Oklahoma, South Carolina and Virginia.
Pichai said Google data centres make a significant economic contribution to local communities, as do the associated $5 billion in energy investments.
—IANS
by admin | May 25, 2021 | Business, Economy, Investing, Markets, News, SMEs
New Delhi : The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved the signing of three Memorandums of Understanding (MoUs) with Saudi Arabia for strengthening cooperation in the fields of tourism, customs and investment.
The MoU would facilitate sharing information and expertise in tourism development, hotels, resorts and tourist accommodation facilities, tourism data and statistics, events and other tourism activities.
Saudi Arabia is one of the potential tourist markets for India from Middle East.
Another MoU is on establishing a mechanism for making investment in infrastructure in India, according to an official release.
The MoU will be a step forward in engaging with the institutions of Saudi Arabia to attract a potential investment into the infrastructure sector in the country.
It will lead to boosting infrastructure development in the country, creation of more jobs, growth of ancillary industries/ sectors which will lead to growth in GDP and overall economic prosperity.
The third MoU pertains to cooperation and mutual assistance in customs matters, said the release.
The Agreement will help in making available reliable, quick and cost-effective information and intelligence for the prevention and investigation of customs offences and apprehending of customs offenders.
The MoUs between the two countries are likely to be signed during the Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud’s visit to India next week.
—IANS
by admin | May 25, 2021 | Business, Business Ideas, Economy, Entrepreneurship, Investing, Medium Enterprise, News, Politics, SMEs
Pinarayi Vijayan
Kochi : Kerala Chief Minister Pinarayi Vijayan on Monday launched an online mechanism to ensure clearance to investment proposals within 30 days of the application, while calling for more industrial production to take place in the state.
K-SWIFT (Kerala Single Window Interface for Fast, Transparent Clearances), a cutting-edge software application to simplify and speed up approval of government clearances for those looking to launch enterprises in the state, was unveiled at the ASCEND Kerala 2019 – an initiative of the government to position the state as an investment hotspot.
In his address, Vijayan urged the officials to change their attitude towards entrepreneurs.
“The 30 day time limit, which is applicable from village to secretariat level, may be reduced to even 15 days in future. You should not have the wrong belief that advent of industries means exploitation of people,” he said.
“Kerala’s economy has been consumerist where lots of products have buyers, but not much of production is happening in the state. This has to change. We have to increase MSMEs (micro, small, medium enterprises) in the state. Through them, the government aims to provide jobs to around 50,000 people this year,” Vijayan added.
State Industries Minister E.P. Jayarajan said ASCEND Kerala 2019 was part of the government’s efforts to form an industry network in the state.
“A new era has dawned upon Kerala’s industry sector. Any delay in taking steps in the online applications would attract serious steps against the departments and officials.
“Specific industrial parks will be set up in private and public sector as per the types of industry. In rural areas, the area limit will be 25 acres. The urban parks will have 15 acres. The government will provide the same facilities to the public sector and private sector parks,” Jayarajan added.
The meet was to showcase Kerala as a top-notch investment destination, where entrepreneurs from India and abroad can set up a wide array of enterprises in a speedy and hassle-free manner with minimum of bureaucratic interventions.
—IANS
by admin | May 25, 2021 | Business, Emerging Businesses, Investing, SMEs, Venture Capital
Chennai : Global technology and services provider Bosch Group on Wednesday inaugurated the Robert Bosch Center for Data Science and Artificial Intelligence (RBC-DSAI) at the Indian Institute of Technology-Madras (IIT-M) with a planned investment of 2.5 million Euros (over Rs 20 crore) over five years.
The mission is to create societal impact through multi-disciplinary interactions with the government, academic, research and industrial collaborators on core challenges in Data Science (DS) and Artificial Intelligence (AI).
“Artificial Intelligence is a core technology for all areas of connected life — from connected mobility to buildings, factories and cities. The expertise of our Indian engineers contributes to expanding the AI skills set of Bosch,” said Michael Bolle, Member of Bosch’s Board of Management.
The centre will undertake foundational research in many areas of AI and Data Science, namely deep learning, reinforcement learning, network analytics, interpretable machine learning (ML), and domain aware AI.
The areas of activity include research projects, knowledge management and dissemination, outreach projects, and setting up collaborative facilities and laboratories.
“The centre’s mandate requires interaction with industry and other universities, including international student and faculty exchanges. The objective is to advance scientific innovation for societal benefit,” said Professor Bhaskar Ramamurthi, Director, IIT-Madras.
India is one of four locations of Bosch Centre for AI and the company is investing some 300 million euros until 2021 for such centres across the world.
“Bosch has funded two important technology areas with Cyber Physical Systems and Data Sciences & AI at IISc (Indian Institute of Science) and IIT-M.
“By working together and conducting aligned R&D activities, they could accelerate major breakthroughs which will have wider societal impact,” says Dr Vijendran Venkoparao, Head of technology strategy and university relations at Robert Bosch Engineering and Business Solutions.
—IANS
