India is all set to make its presence felt in the $47 billion global outsourced semiconductor testing and packaging market, an arena where Malaysia and Vietnam have been way ahead so far. The Cabinet last Thursday cleared two projects, the Tata's assembly testing and packaging plant (ATMP) and the Murugappa-owned CG Power with Renesas from Japan as its tech partner. These, together with Micron's assembly and testing plant which is already being constructed in Sanad in Gujarat, will collectively invest Rs 47,300 crore to set up the factories.
Expansion of distribution network, venturing into new markets, supplementing production capacity, and ramping up workforce are all on the cards. Instead of trying to fight with brands having massive war chests, it will pass on the benefits to consumers by offering them phones at lower prices.
As the third Republican debate went live in Miami, the candidate for 2024 United States (US) presidential polls, Nikki Haley called fellow contender Vivek Ramaswamy 'scum' as the two sparred against each other on several issues, including foreign policy, economy and much more, ABC News reported.
'The main worry is lots of new investors coming into the markets in order to make a quick buck/easy money.' 'Those things are happening again and have happened in the past as well.' 'All that has led to problems.' 'We are not there yet, but will get there eventually.'
Some BCCI officials are of the view that unless VIVO backs out on its own in prevailing circumstances, the board should honour the remainder of the contract, which ends in 2022.
This year will be the one when GenAI becomes a part of the daily lives of people around the world.
A bunch of CEOs in their mid-30s and early 40s are trying to rectify the scenario where shady lending applications trap hapless borrowers with astronomically high interest rates and even bodily harm if the money was repaid. Anup Roy reports.
'Why should we disclose classified information to satisfy those who doubt our Hydrogen Bomb capability?'
'China is struggling to get out of its property bubble.' 'Japan took 35 years to walk out of its equity bubble.' 'Bubbles can be difficult to forecast.'
It is part of a global strategy to shrink the footprint. It will be shutting operations in a few countries, including Australia.
Information technology industry veteran V Balakrishnan on Thursday criticised the new digital rules, alleging that they appear to be unduly compromising the privacy right of citizens. The two key issues with the new IT rules relate to user privacy, which is a fundamental right, and the oversight mechanism lying fully with the executive arm of the government, said the former chief financial officer of Bengaluru-headquartered IT major Infosys Ltd.
There were reports of a mobile tower being impacted a few months ago in coastal area of Andhra Pradesh that was attributed to hacking by the company's engineers.
After a sharp rally in the equities market this year, investors could be better off rotating some funds towards the debt market. Experts believe several tailwinds could spur bond market returns over the next 12-18 months. These include India's robust macroeconomics, declining inflation, and the imminent passive flows of close to Rs 2.5 trillion on account of domestic sovereign bonds getting included in the JP Morgan global indices.
A BCCI official confirmed that Unacademy has picked up the bid papers but refrained from making any comments beyond that.
Ramaswamy launched the volley of charges against the former South Carolina governor and US ambassador to the UN in Arizona during the Republican Party's fourth presidential debate, which was attended by just four candidates, the other two being former New Jersey Governor Chris Christie and Florida Governor Ron DeSantis.
Newgen Software said it has developed a Chinese version of its software product on document management and workflow to enter the Chinese market.
Lenovo, Xiaomi, Vivo, Gionee lead the onslaught, beating Indian and global brands with smart deals and astute image management measures.
The Gurgaon-based company, which is in negotiations with Chinese banks, expects to clinch the loans by September.
'It is advisable to stay away from the markets for now and buy only on a dip.'
The senior IPS officer said that 45 percent of cyber financial frauds taking place in the country are originating from the South East Asia.
Indian telecom operators came out in open support of Chinese equipment makers, saying the government cannot deprive Indian consumers of the cutting-edge technology which these companies offer by denying security clearance to them.
In a few years there may be 100 Japanese companies in Gujarat, while Chinese firms may commit investments of over Rs 6,000 crore.
Singapore-based e-commerce platform Shopee - that launched in India only in December 2021 - has decided to close operations in the country. The official reason given by Shopee, which is controlled by NYSE-listed Sea Ltd, is changing global sentiments. In a statement, it said, "In view of the global market uncertainties, we have decided to close risks of our early-stage Shopee India initiative." The e-commerce platform has been hit by growing opposition from trade associations led by Praveen Khandelwal as well as homegrown social commerce start-ups.
The new entrants are young, enterprising Chinese men and women who want to tap into the promising Indian market.
China's size and ambition have enabled it to successfully penetrate every sector of the UK's economy, an influential parliamentary panel has said, warning that Beijing's national imperative continues to become a technological and economic superpower on which other countries are reliant, which represents the "greatest risk" to the UK.
Chinese fashion e-commerce platform Shein is expected to make a second entry into India and has tied up with Reliance Retail for this, according to a source in the know. The source said as part of the tie-up, Shein would source goods from India for its global operations. Also, the manufacturing of its products could happen in the country and they could be exported.
The chemicals sector's recovery could be delayed until FY25 if the current trends of weak demand and flat pricing continue. Following a subdued September quarter, the revenue and profit performance of listed chemicals companies are anticipated to fall short of initial expectations of an improvement. Despite some price stability, the demand trajectory remains uncertain.
The decision comes weeks after killing of two Chinese nationals who entered the country on business visa.
India and Vietnam are vying with each other to woo semiconductor companies to their country. With the tension between the US and China escalating, and Taiwan getting vulnerable both countries are trying to present themselves as alternative destinations for global players. Vietnam, which started the effort as early as 2010, has got a leg-up after US President Joe Biden's visit last month.
A report in the Indian Express claimed that the range of targets in India identified and monitored in real time by Zhenhua Data Information Technology Co Limited was "sweeping" and included President Ram Nath Kovind, Prime Minister Narendra Modi, Congress' interim president Sonia Gandhi, and their families, as well as several chief ministers, among others.
The CBI registered an FIR against NewsClick and its founder Prabir Purkayastha for alleged violation of the Foreign Contribution (Regulation) Act and carried out searches at the office and residence of the portal's founder on Wednesday, officials said.
However, the Maldives government has no intention of removing the doctors from India at Senahiya, a media report said.
Indian phone company Lava reveals a new strategy, reports Arnab Dutta.
Not only is Chinese equipment being deployed by quite a few power companies in the country, Chinese manpower is also employed in large numbers in the country.
The minister further said state discoms should not give orders for supply of equipment to Chinese firms.
Chinese telecom companies operating in India said there is no justification for India's security concerns about their equipment and the current de facto restrictions smell more of commercial fears, chinese news site globaltimes.cn reported on Monday.
Dixon Technologies right now is a beehive of activity. It is building a new facility in Noida to make 1.3 million laptops for Taiwanese PC maker Acer. The facility must be up and running in four months. The pace of activity will only increase. Last week Dixon won a similar contract from Lenovo, the Chinese personal computer maker and the third largest information technology (IT) hardware brand in India, to assemble laptops and notebooks. Though the clientele in these two cases is Taiwanese and Chinese, Dixon is a company reaching for the stars with its feet planted firmly in the Indian government's policy.
Passenger vehicles, motorcycles, bikes and commercial vehicles made their presence felt at the Munich Auto Show.
'On the final product, there can be an increase of a minimum of 10 per cent in February and March.'
