by admin | May 25, 2021 | Branding, Corporate Jobs, Employment, Investing, Marketing Basics, Markets, Online Marketing, Private Jobs, Technology, Venture Capital
New Delhi : Singapore-based social media platform BIGO Technology on Monday announced an investment of over $100 million to expand its business in India in the next three years, creating nearly 1,000 jobs.
As part of the investment, the internet company will start a regional centre by the end of this year in the country that will create employment opportunities for more than 1,000 tech professionals.
According to Jason Hu, Chief Technology Officer, BIGO Technology, as India is the second-largest market for smartphones amid growing internet infrastructure and has a huge young population, the company has taken the decision.
“India will act as a complementary centre to Singapore’s Research and Development Centre. This step is the first-of-its-kind for BIGO, and a testament to the growing need for overseas centres as our user base grows,” Hu said in a statement.
With over 40 patents in VoIP/video-related technology and over 60 patents under the process of application, BIGO Technology is one of the major companies globally in the field of app development and publishing of apps.
The company, which has built a strong team of over 100 Artificial Intelligence (AI) experts and engineers, recently received series D funding of $272 million.
In addition to the India Centre, BIGO would open two more regional research centres – one in the US and another one in MENA-Europe region by the end of this year.
The company’s live-streaming app BIGO LIVE currently has a registered user base of 200 million globally.
Another short video app from the company called “LIKE” has hit 20 million daily active users around the globe.
—IANS
by admin | May 25, 2021 | Business, Corporate, Corporate Buzz, Emerging Businesses, Investing, Markets, Technology
Bengaluru : Indian software major Infosys Ltd on Friday said it has formed a joint venture (JV) with global investment firm Temasek in Singapore to service it and its clients in the digital space.
“The JV will integrate our team with that of Temasek’s Singapore subsidiary Trusted Source Pte Ltd, which delivers IT services to it and its clients,” said the city-based IT firm in a statement here.
As per an agreement signed by the partners on Thursday night, Infosys will hold 60 per cent and Temasek 40 per cent in the JV’s unspecified paid-up capital or equity shares.
The 44-year-old Singapore-based Temasek owns a whopping $235 billion funds, with two-thirds of it invested in Singapore and the rest of Asia.
“The JV gives us synergy and strategic alignment in terms of workforce to strengthen our presence in Southeast Asia, while Temasek will see its IT services enhanced through its augmented capabilities,” noted the statement.
The JV will also support Temasek’s digital transformation journey, managing cloud migration programme to enable it host applications on a cloud platform.
As the JV’s partner, Trusted Source will provide Temasek and its other clients in the region solutions and technologies across cloud, data and analytics, cyber security, digital experiences and Artificial Intelligence and automation.
Infosys Vice-President Shveta Arora will be the Chief Executive of the JV, with 200 techies of Trusted Source joining it along with Infosys staff over time.
“We will leverage digital skills, learning capabilities and transformation experience of Trusted Source to help enhance operations across Temasek’s global business,” said Infosys President Mohit Joshi on the occasion.
The JV will also accelerate Infosys’ efforts in the region, enhancing its presence, as it helps clients navigate the next journey in their business transformation.
“In line with our commitment to invest in advanced technologies and skills for the workforce, the JV’s employees will have access to our global education and training capabilities to provide professional services,” added Joshi.
Commenting on the JV, Temasek Chief Technology Officer Jon Allaway said the opportunity would provide support to its subsidiary (Trusted Source), ability to develop its employees’ careers with Infosys.
“The partnership will help unlock capabilities and technology platforms, as the organisation continues our growth with a global presence,” added Allaway.
With offices in 11 locations across Asia, America and Europe, Temasek’s investments are guided by transforming economies, growing middle income populations, deepening comparative advantages; and emerging champions.
The JV’s formation came on a day when Temasek inked an agreement with India’s state-run National Investment and Infrastructure Fund (NIIF) to invest $400 million (Rs 2,880 crore) in its Master Fund.
The investment in the NIIF also makes Temasek a shareholder in the Fund, which has Abu Dhabi Investment Authority, HDFC Group, ICICI Bank, Kotak Mahindra Life Insurance and Axis Bank as other investors.
The Master Fund invests in core infrastructure sectors like transportation, energy and urban infrastructure across the country.
—IANS
by admin | May 25, 2021 | Branding, Business, Corporate, Corporate Buzz, Large Enterprise, Markets, Technology
Bengaluru : With a renewed focus on aerospace and defence sector, Hyderabad-based Sankhya InfoTech Limited, a simulation and Cloud-based training management solutions provider, on Wednesday announced the expansion of its footprint into the US and Singapore markets.
As part of the aggressive growth initiative, the company will also strengthen its presence in Europe and the Middle East and North Africa (MENA) region.
Sankhya Infotech also announced a new analytics and Artificial Intelligence-based solution that predicts specific training needs, customised for an individual, over an immersive experience.
“Whether it’s the simulation of a fighter jet aircraft engine for maintenance that covers over a million parts and thousand sub-systems for maintenance purposes or a platform to implement world’s first Evidence-Based Training to Etihad Airways, we are intent on shaping the future of training technology,” said Sridhar Krishna, Chairman and Managing Director, Sankhya Infotech.
Over 1.5 million users across 50 global locations are empowered by Sankhya’s innovative technology and solutions.
The firm which registered an annual turnover of Rs 161.6 crore in the last fiscal, also announced new Board of Directors with former Microsoft chairman Bhaskar Pramanik, NetApp India and Saarc President Anil Valluri and Ravindran Govindan, Founder of Mercatus Capital Pte Ltd.
“My global experience at technology majors Microsoft, Oracle and Sun Microsystems will help Sankhya scale operations profitably,” said Pramanik.
Founded in 1997, Sankhya Infotech has had a strong presence in aerospace and defense sector, working with leaders like Airbus, Boeing, Embraer, Etihad and Safran Aircraft Engines (previously Snecma).
“With over 32 years in high-tech industry in marketing, sales and general management, I look forward to adding value to Sankhya’s market growth and technology expansion plans,” said Valluri.
—IANS
by admin | May 25, 2021 | Corporate Jobs, Employment, News, Overseas
Guwahati : The Assam government on Wednesday signed MoUs with its Singapore counterpart for skilling over 78,000 rural youths in the state by 2019 and greening Guwahati.
The Memorandums of Understanding (MoUs) and Terms of Reference (ToR) for setting up the North East Skills Centre (NESC) and Greening Guwahati City was inked in the presence of Chief Minister Sarbananda Sonowal and Singapore’s Foreign Affairs Minister Vivian Balakrishnan at the Administrative Staff College here.
The MoU and ToR for NESC was signed between Skill, Employment and Entrepreneurship Department and ITE Education Service of Singapore. The NESC will train up to 400 students each year.
The MoU for Guwahati city’s greening was inked between the Guwahati Metropolitan Development Authority and Singapore Corporation Enterprise.
“The Assam government aims to create a workforce empowered with upgraded skills, knowledge and internationally recognised qualifications to gain access to employment and ensure India’s competitiveness in the dynamic global market with support from government of Singapore,” Sonowal said at the event.
The skill development training will be imparted to 78,500 poor rural youths during 2016-19 under the Deen Dayal Upadhyaya Grameen Kaushalya Yojana.
Sonowal said an innovative project — Guwahati Open Space and Park Integrator Network — for the beautification of Guwahati and improvement of quality of life of its inhabitants had been initated.
The Chief Minister highlighted the state’s natural resources and tourism potential and sought the Singapore government’s cooperation for showcasing it to a global audience.
The Singapore Minister said the joint endeavour will mark the beginning of a lasting friendship, beneficial for both Assam and Singapore.
—IANS
by admin | May 25, 2021 | Business, Large Enterprise, World
Singapore : Non-oil domestic exports (NODX) in Singapore jumped by 17 per cent year-on-year in August, the fourth consecutive month of growth, according to statistics released by trade agency International Enterprise (IE) Singapore Monday.
The increase, which was due to an increase in both electronic and non-electronic exports, extends the 7.6 per cent growth in July.
On a month-on-month seasonally adjusted basis, exports also rose 4.5 per cent, reversing the previous month’s 3.3 per cent decline. This was due to the growth in both electronic and non-electronic exports, IE Singapore said.
Electronic shipments were up for the 10th consecutive month on a year-on-year basis, expanding 21.7 per cent in August, following a 15.3 per cent growth in July. The increase was largely due to ICs, disk media products and parts of ICs, which grew by 36.8 per cent, 13.3 per cent and 44.8 per cent, respectively, IE Singapore said.
Non-electronic shipments also rose 15 per cent, following a 4.4 per cent increase in the previous month. Non-monetary gold, petrochemicals and specialised machinery increased by 137.7 per cent, 31.9 per cent and 44.9 per cent respectively, contributing most to the increase.
Exports to all of Singapore’s top 10 markets, except Taiwan, grew last month, IE Singapore said. Shipments to China, Singapore’s biggest export market, expanded by 43.2 per cent, while exports to Hong Kong and South Korea also increased by 41.9 per cent and 62 per cent respectively.
Non-oil re-exports rose by 11.9 per cent year-on-year, following a 16.7 per cent expansion in July. Shipments of both electronic and non-electronic re-exports increased, IE Singapore said.
— NNN-CNA
