1. Mangalyaan Among Best Inventions of 2014: TIME MagazineMangalyaan has been named among the best inventions of 2014 by
Time magazine which described it as a technological feat that will allow India to flex its "interplanetary muscles."
"Nobody gets Mars right on the first try. The US didn't, Russia didn't, the Europeans didn't. But on September 24, India did. That's when the Mangalyaan... went into orbit around the Red Planet, a technological feat no other Asian nation has yet achieved," Time said about Mangalyaan, calling it "The Supersmart Spacecraft."
Mangalyaan is among the 25 'Best Inventions of 2014' listed by Time magazine that are "making the world better, smarter and-in some cases-a little more fun."
Developed by the Indian Space Research Organisation, the Mars spacecraft cost India just US $74 million, less than the budget for the multi-Academy Award winning science fiction thriller film Gravity. Time said at that price, the Mangalyaan is equipped with just five onboard instruments that allow it to do simple tasks like measure Martian methane and surface composition.
2. CBI's Additional Director RK Dutta to head 2G caseAdditional Director R K Dutta will now head the CBI probe in the 2G spectrum scam after the Supreme Court directed the agency Chief Ranjit Sinha to recuse from the investigation. A 1981-batch IPS officer from the Karnataka cadre, Rupak Kumar Dutta is the overall incharge of the Anti-Corruption Bureau (ACB) of the agency which is probing the 2G cases.
3. Union Government approved launch of Deendayal Upadhyaya Gram Jyoti Yojana
Union Government on 20 November 2014 approved launch of Deendayal Upadhyaya Gram Jyoti Yojana (DUGJY) to provide access of electricity to rural households across the country. A decision in this regard was taken at the Cabinet meeting chaired by Prime Minister Narendra Modi in New Delhi.
The Union Cabinet also decided to merge the ongoing Rajiv Gandhi Gramin Vidyutikaran Yojana (RGGVY) with DUGJY scheme.
Components of the Deendayal Upadhyaya Gram Jyoti Yojana (DDUGJY) includes
• To separate agriculture and non agriculture feeders facilitating judicious rostering of supply to agricultural and non-agricultural consumers in rural areas
• Strengthening and augmentation of sub transmission and distribution infrastructure in rural areas, including metering of distribution transformers/feeders/consumers
The two components of the scheme will be implemented at an estimated cost of 43033 crore rupees which includes required budgetary support of 33453 crore rupees from Union Government over the entire implementation period.
"Nobody gets Mars right on the first try. The US didn't, Russia didn't, the Europeans didn't. But on September 24, India did. That's when the Mangalyaan... went into orbit around the Red Planet, a technological feat no other Asian nation has yet achieved," Time said about Mangalyaan, calling it "The Supersmart Spacecraft."
Mangalyaan is among the 25 'Best Inventions of 2014' listed by Time magazine that are "making the world better, smarter and-in some cases-a little more fun."
Developed by the Indian Space Research Organisation, the Mars spacecraft cost India just US $74 million, less than the budget for the multi-Academy Award winning science fiction thriller film Gravity. Time said at that price, the Mangalyaan is equipped with just five onboard instruments that allow it to do simple tasks like measure Martian methane and surface composition.
2. CBI's Additional Director RK Dutta to head 2G caseAdditional Director R K Dutta will now head the CBI probe in the 2G spectrum scam after the Supreme Court directed the agency Chief Ranjit Sinha to recuse from the investigation. A 1981-batch IPS officer from the Karnataka cadre, Rupak Kumar Dutta is the overall incharge of the Anti-Corruption Bureau (ACB) of the agency which is probing the 2G cases.
3. Union Government approved launch of Deendayal Upadhyaya Gram Jyoti Yojana
Union Government on 20 November 2014 approved launch of Deendayal Upadhyaya Gram Jyoti Yojana (DUGJY) to provide access of electricity to rural households across the country. A decision in this regard was taken at the Cabinet meeting chaired by Prime Minister Narendra Modi in New Delhi.
The Union Cabinet also decided to merge the ongoing Rajiv Gandhi Gramin Vidyutikaran Yojana (RGGVY) with DUGJY scheme.
Components of the Deendayal Upadhyaya Gram Jyoti Yojana (DDUGJY) includes
• To separate agriculture and non agriculture feeders facilitating judicious rostering of supply to agricultural and non-agricultural consumers in rural areas
• Strengthening and augmentation of sub transmission and distribution infrastructure in rural areas, including metering of distribution transformers/feeders/consumers
The two components of the scheme will be implemented at an estimated cost of 43033 crore rupees which includes required budgetary support of 33453 crore rupees from Union Government over the entire implementation period.
4. ING Vysya Bank to merge with Kotak Mahindra Bank
In an all stock amalgamation, ING Vysya Bank on Thursday
In an all stock amalgamation, ING Vysya Bank on Thursday
decided to merge with Kotak
Mahindra Bank, creating the fourth largest private sector bank in the
country.
ING Vysya shareholders will receive 725 shares in Kotak for 1,000 shares of ING Vysya. “The share exchange ratio is considered fair and reasonable given the underlying value of ING Vysya, as also giving shareholders the ability to benefit from the potential that can be realised upon merging into Kotak,” a press release issued jointly by Kotak Mahindra Bank and ING Vysya Bank stated.
“This exchange ratio indicates an implied price of Rs.790 for each ING Vysya share based on the average closing price of Kotak shares during one month to November 19, 2014, which is a 16 per cent premium to a like measure of ING Vysya market price,” it added.
The proposed merger would result in issuance of approximately 15.2 per cent of the equity share capital of the merged Kotak.
The amalgamation is subject to the approval of the shareholders of Kotak and ING Vysya respectively, Reserve Bank of India under the Banking Regulation Act, the Competition Commission of India and such other regulatory approvals as may be required. The combined Kotak will have 1,214 branches, with a wide-spread pan-India network, “getting both breadth and depth given the strong geographic complementarity between Kotak and ING Vysya.”
ING Vysya shareholders will receive 725 shares in Kotak for 1,000 shares of ING Vysya. “The share exchange ratio is considered fair and reasonable given the underlying value of ING Vysya, as also giving shareholders the ability to benefit from the potential that can be realised upon merging into Kotak,” a press release issued jointly by Kotak Mahindra Bank and ING Vysya Bank stated.
“This exchange ratio indicates an implied price of Rs.790 for each ING Vysya share based on the average closing price of Kotak shares during one month to November 19, 2014, which is a 16 per cent premium to a like measure of ING Vysya market price,” it added.
The proposed merger would result in issuance of approximately 15.2 per cent of the equity share capital of the merged Kotak.
The amalgamation is subject to the approval of the shareholders of Kotak and ING Vysya respectively, Reserve Bank of India under the Banking Regulation Act, the Competition Commission of India and such other regulatory approvals as may be required. The combined Kotak will have 1,214 branches, with a wide-spread pan-India network, “getting both breadth and depth given the strong geographic complementarity between Kotak and ING Vysya.”
5. Uninor appointed Vivek Sood as CEO
Uninor on 19 November 2014 announced the appointment of Vivek Sood as its new Chief Executive Officer (CEO). The appointment will come into effect from 1 December 2014. Uninor is the local arm of Norwegian telecom operator Telenor.
He will replace the Present CEO Morten Karlsen Sorby. Present CEO Morten Karlsen Sorby has announced to resign due to some personal issues but he will remain as an advisor to the Uninor top management until 1 January 2015.
6. Chintan won Deutsche Bank Urban Age Award for the year 2014
Chintan, a non-government organisation was conferred the Deutsche Bank Urban Age Award, 2014 on 15 November 2014.
The award was given for cleaning the New Delhi railway station. Chintan is a non-government organisation working with waste pickers.
7. Infosys co-founders Gopalakrishnan and Shibulal launched Axilor Ventures
Infosys co-founders S. Gopalakrishnan and S.D.Shibulal on 19 November 2014 launched Axilor Ventures.
Axilor Ventures is a business incubator which will help entrepreneurs and early-stage firms to succeed in diverse verticals. The first batch of the accelerator programme will commence in the first quarter of 2015.
In its initial launch stage, Axilor will run three programmes — Accelerator, Entrepreneur-in-Residence and Early Stage Funding.
For the selected startups, the two will co-invest through individual funds ranging from 30 lakh rupees in the accelerator programme to 6 crore rupees in early-stage companies.
Uninor on 19 November 2014 announced the appointment of Vivek Sood as its new Chief Executive Officer (CEO). The appointment will come into effect from 1 December 2014. Uninor is the local arm of Norwegian telecom operator Telenor.
He will replace the Present CEO Morten Karlsen Sorby. Present CEO Morten Karlsen Sorby has announced to resign due to some personal issues but he will remain as an advisor to the Uninor top management until 1 January 2015.
6. Chintan won Deutsche Bank Urban Age Award for the year 2014
Chintan, a non-government organisation was conferred the Deutsche Bank Urban Age Award, 2014 on 15 November 2014.
The award was given for cleaning the New Delhi railway station. Chintan is a non-government organisation working with waste pickers.
7. Infosys co-founders Gopalakrishnan and Shibulal launched Axilor Ventures
Infosys co-founders S. Gopalakrishnan and S.D.Shibulal on 19 November 2014 launched Axilor Ventures.
Axilor Ventures is a business incubator which will help entrepreneurs and early-stage firms to succeed in diverse verticals. The first batch of the accelerator programme will commence in the first quarter of 2015.
In its initial launch stage, Axilor will run three programmes — Accelerator, Entrepreneur-in-Residence and Early Stage Funding.
For the selected startups, the two will co-invest through individual funds ranging from 30 lakh rupees in the accelerator programme to 6 crore rupees in early-stage companies.
8. Tech Mahindra acquires Lightbridge Communications for $240 million
Tech Mahindra, on Thursday, announced that it had signed a definitive agreement to acquire U.S.-based network services company Lightbridge Communications Corporation (LCC) for an enterprise value of about $240 million in an all-cash deal. This is the largest acquisition abroad and the second largest by Tech Mahindra after Satyam.
The acquisition is subject to regulatory approvals, and the transaction is expected to close by the fourth quarter of the company’s 2015 fiscal year, it said in a filing to the BSE. LCC, headquartered in McLean, Virginia, is one-of-the world’s largest independent global providers of network engineering services to the telecom industry. According to the filing, LCC employs more than 5,000 employees in over 50 countries.
This is the sixth acquisition made by the IT company in the last two years. In February, Tech Mahindra had acquired BASF Business Services Consult.
9. Flytxt wins award
Flytxt, a big data analytics provider for telecom operators, has won the iCMG Architecture Award of Excellence 2014 under the category ‘software architecture in IT products’.
The iCMG Architecture Excellence awards honour architects and enterprises whose work demonstrates a combination of talent, vision and workmanship to create successful and enduring systems and enterprises. Flytxt was nominated by an international jury and had competed with 12 leading names before emerging winner for its NEON 4.0 architecture, said Prateek Kapadia, Chief Technology Officer.
NEON is an advanced analytics-powered internal monetisation platform for telecom operators.
10. Future Group acquires supermarket chain Nilgiris
Future Consumer Enterprise Limited has bought supermarket chain Nilgiris.
A part of Kishore Biyani's Future Group, the company has bought out the stake of the promoters and PE fund Actis for an estimated Rs. 300 crore.
The acquistion will help the Future Group create a stronger retail network in the southern states.
11. GMR claims $803 mn from Maldives for cancellation of Male airport deal
GMR Male International Airport Pvt Ltd (GMIPL) has filed for a claim for damages of $803 million (about Rs. 4,987 crore) against the Maldives Government and Male Airports Company Ltd for ‘wrongful’ cancellation of concession agreement for the Maldives International Airport.
GMIAL had entered into a concession agreement with the Government of Maldives and Maldives Airport Company Ltd (MACL) for modernisation and operation of Ibrahim Nasir International Airport in 2010.
Flytxt, a big data analytics provider for telecom operators, has won the iCMG Architecture Award of Excellence 2014 under the category ‘software architecture in IT products’.
The iCMG Architecture Excellence awards honour architects and enterprises whose work demonstrates a combination of talent, vision and workmanship to create successful and enduring systems and enterprises. Flytxt was nominated by an international jury and had competed with 12 leading names before emerging winner for its NEON 4.0 architecture, said Prateek Kapadia, Chief Technology Officer.
NEON is an advanced analytics-powered internal monetisation platform for telecom operators.
10. Future Group acquires supermarket chain Nilgiris
Future Consumer Enterprise Limited has bought supermarket chain Nilgiris.
A part of Kishore Biyani's Future Group, the company has bought out the stake of the promoters and PE fund Actis for an estimated Rs. 300 crore.
The acquistion will help the Future Group create a stronger retail network in the southern states.
11. GMR claims $803 mn from Maldives for cancellation of Male airport deal
GMR Male International Airport Pvt Ltd (GMIPL) has filed for a claim for damages of $803 million (about Rs. 4,987 crore) against the Maldives Government and Male Airports Company Ltd for ‘wrongful’ cancellation of concession agreement for the Maldives International Airport.
GMIAL had entered into a concession agreement with the Government of Maldives and Maldives Airport Company Ltd (MACL) for modernisation and operation of Ibrahim Nasir International Airport in 2010.
12. Yahoo replaces Google as Firefox's default search engine
Yahoo will supplant Google’s search engine on Firefox’s Web browser in the U.S., signalling Yahoo’s resolve to regain some of the ground that it has lost in the most lucrative part of the Internet’s ad market.
The five-year alliance announced on Wednesday will end a decade-old partnership in the U.S. between Google Inc. and the Mozilla Foundation, which oversees the Firefox browser. The tensions between Google and Mozilla had been rising since Google’s introduction of the Chrome browser in 2008 began to undercut Firefox. Google’s current contract with Mozilla expires at the end of this month, opening an opportunity for Yahoo to pounce.
Even though Chrome is now more widely used, Firefox still has a loyal audience that makes more than 100 billion worldwide search requests annually.
Yahoo is hoping to impress Firefox users as the Sunnyvale-based company sets out to prove that it’s still adept at Internet search after leaning on Microsoft’s technology for most of the results on Yahoo’s own website for the past four years.
13. Saina goes down in Hong Kong Open quarters
Top Indian shuttler Saina Nehwal could not replicate her last week’s China Open title win as she went down in straight games in the women’s singles quarterfinals of the $350,000 Hong Kong Open Super Series in Hong Kong on Friday.
The third seeded Hyderabadi was upset by Chinese Taipei’s sixth seed Tai Tzu Ying 15-21, 19-21 in 39 minutes at the Hong Kong Coliseum. With the win, Tai bettered her career record to 3-5 against the World No.4 Saina.
Yahoo will supplant Google’s search engine on Firefox’s Web browser in the U.S., signalling Yahoo’s resolve to regain some of the ground that it has lost in the most lucrative part of the Internet’s ad market.
The five-year alliance announced on Wednesday will end a decade-old partnership in the U.S. between Google Inc. and the Mozilla Foundation, which oversees the Firefox browser. The tensions between Google and Mozilla had been rising since Google’s introduction of the Chrome browser in 2008 began to undercut Firefox. Google’s current contract with Mozilla expires at the end of this month, opening an opportunity for Yahoo to pounce.
Even though Chrome is now more widely used, Firefox still has a loyal audience that makes more than 100 billion worldwide search requests annually.
Yahoo is hoping to impress Firefox users as the Sunnyvale-based company sets out to prove that it’s still adept at Internet search after leaning on Microsoft’s technology for most of the results on Yahoo’s own website for the past four years.
13. Saina goes down in Hong Kong Open quarters
Top Indian shuttler Saina Nehwal could not replicate her last week’s China Open title win as she went down in straight games in the women’s singles quarterfinals of the $350,000 Hong Kong Open Super Series in Hong Kong on Friday.
The third seeded Hyderabadi was upset by Chinese Taipei’s sixth seed Tai Tzu Ying 15-21, 19-21 in 39 minutes at the Hong Kong Coliseum. With the win, Tai bettered her career record to 3-5 against the World No.4 Saina.
1. Mangalyaan Among Best Inventions of 2014: TIME MagazineMangalyaan has been named among the best inventions of 2014 by
Time magazine which described it as a technological feat that will allow India to flex its "interplanetary muscles."
"Nobody gets Mars right on the first try. The US didn't, Russia didn't, the Europeans didn't. But on September 24, India did. That's when the Mangalyaan... went into orbit around the Red Planet, a technological feat no other Asian nation has yet achieved," Time said about Mangalyaan, calling it "The Supersmart Spacecraft."
Mangalyaan is among the 25 'Best Inventions of 2014' listed by Time magazine that are "making the world better, smarter and-in some cases-a little more fun."
Developed by the Indian Space Research Organisation, the Mars spacecraft cost India just US $74 million, less than the budget for the multi-Academy Award winning science fiction thriller film Gravity. Time said at that price, the Mangalyaan is equipped with just five onboard instruments that allow it to do simple tasks like measure Martian methane and surface composition.
2. CBI's Additional Director RK Dutta to head 2G caseAdditional Director R K Dutta will now head the CBI probe in the 2G spectrum scam after the Supreme Court directed the agency Chief Ranjit Sinha to recuse from the investigation. A 1981-batch IPS officer from the Karnataka cadre, Rupak Kumar Dutta is the overall incharge of the Anti-Corruption Bureau (ACB) of the agency which is probing the 2G cases.
3. Union Government approved launch of Deendayal Upadhyaya Gram Jyoti Yojana
Union Government on 20 November 2014 approved launch of Deendayal Upadhyaya Gram Jyoti Yojana (DUGJY) to provide access of electricity to rural households across the country. A decision in this regard was taken at the Cabinet meeting chaired by Prime Minister Narendra Modi in New Delhi.
The Union Cabinet also decided to merge the ongoing Rajiv Gandhi Gramin Vidyutikaran Yojana (RGGVY) with DUGJY scheme.
Components of the Deendayal Upadhyaya Gram Jyoti Yojana (DDUGJY) includes
• To separate agriculture and non agriculture feeders facilitating judicious rostering of supply to agricultural and non-agricultural consumers in rural areas
• Strengthening and augmentation of sub transmission and distribution infrastructure in rural areas, including metering of distribution transformers/feeders/consumers
The two components of the scheme will be implemented at an estimated cost of 43033 crore rupees which includes required budgetary support of 33453 crore rupees from Union Government over the entire implementation period.
"Nobody gets Mars right on the first try. The US didn't, Russia didn't, the Europeans didn't. But on September 24, India did. That's when the Mangalyaan... went into orbit around the Red Planet, a technological feat no other Asian nation has yet achieved," Time said about Mangalyaan, calling it "The Supersmart Spacecraft."
Mangalyaan is among the 25 'Best Inventions of 2014' listed by Time magazine that are "making the world better, smarter and-in some cases-a little more fun."
Developed by the Indian Space Research Organisation, the Mars spacecraft cost India just US $74 million, less than the budget for the multi-Academy Award winning science fiction thriller film Gravity. Time said at that price, the Mangalyaan is equipped with just five onboard instruments that allow it to do simple tasks like measure Martian methane and surface composition.
2. CBI's Additional Director RK Dutta to head 2G caseAdditional Director R K Dutta will now head the CBI probe in the 2G spectrum scam after the Supreme Court directed the agency Chief Ranjit Sinha to recuse from the investigation. A 1981-batch IPS officer from the Karnataka cadre, Rupak Kumar Dutta is the overall incharge of the Anti-Corruption Bureau (ACB) of the agency which is probing the 2G cases.
3. Union Government approved launch of Deendayal Upadhyaya Gram Jyoti Yojana
Union Government on 20 November 2014 approved launch of Deendayal Upadhyaya Gram Jyoti Yojana (DUGJY) to provide access of electricity to rural households across the country. A decision in this regard was taken at the Cabinet meeting chaired by Prime Minister Narendra Modi in New Delhi.
The Union Cabinet also decided to merge the ongoing Rajiv Gandhi Gramin Vidyutikaran Yojana (RGGVY) with DUGJY scheme.
Components of the Deendayal Upadhyaya Gram Jyoti Yojana (DDUGJY) includes
• To separate agriculture and non agriculture feeders facilitating judicious rostering of supply to agricultural and non-agricultural consumers in rural areas
• Strengthening and augmentation of sub transmission and distribution infrastructure in rural areas, including metering of distribution transformers/feeders/consumers
The two components of the scheme will be implemented at an estimated cost of 43033 crore rupees which includes required budgetary support of 33453 crore rupees from Union Government over the entire implementation period.
4. ING Vysya Bank to merge with Kotak Mahindra Bank
In an all stock amalgamation, ING Vysya Bank on Thursday
In an all stock amalgamation, ING Vysya Bank on Thursday
decided to merge with Kotak
Mahindra Bank, creating the fourth largest private sector bank in the
country.
ING Vysya shareholders will receive 725 shares in Kotak for 1,000 shares of ING Vysya. “The share exchange ratio is considered fair and reasonable given the underlying value of ING Vysya, as also giving shareholders the ability to benefit from the potential that can be realised upon merging into Kotak,” a press release issued jointly by Kotak Mahindra Bank and ING Vysya Bank stated.
“This exchange ratio indicates an implied price of Rs.790 for each ING Vysya share based on the average closing price of Kotak shares during one month to November 19, 2014, which is a 16 per cent premium to a like measure of ING Vysya market price,” it added.
The proposed merger would result in issuance of approximately 15.2 per cent of the equity share capital of the merged Kotak.
The amalgamation is subject to the approval of the shareholders of Kotak and ING Vysya respectively, Reserve Bank of India under the Banking Regulation Act, the Competition Commission of India and such other regulatory approvals as may be required. The combined Kotak will have 1,214 branches, with a wide-spread pan-India network, “getting both breadth and depth given the strong geographic complementarity between Kotak and ING Vysya.”
ING Vysya shareholders will receive 725 shares in Kotak for 1,000 shares of ING Vysya. “The share exchange ratio is considered fair and reasonable given the underlying value of ING Vysya, as also giving shareholders the ability to benefit from the potential that can be realised upon merging into Kotak,” a press release issued jointly by Kotak Mahindra Bank and ING Vysya Bank stated.
“This exchange ratio indicates an implied price of Rs.790 for each ING Vysya share based on the average closing price of Kotak shares during one month to November 19, 2014, which is a 16 per cent premium to a like measure of ING Vysya market price,” it added.
The proposed merger would result in issuance of approximately 15.2 per cent of the equity share capital of the merged Kotak.
The amalgamation is subject to the approval of the shareholders of Kotak and ING Vysya respectively, Reserve Bank of India under the Banking Regulation Act, the Competition Commission of India and such other regulatory approvals as may be required. The combined Kotak will have 1,214 branches, with a wide-spread pan-India network, “getting both breadth and depth given the strong geographic complementarity between Kotak and ING Vysya.”
5. Uninor appointed Vivek Sood as CEO
Uninor on 19 November 2014 announced the appointment of Vivek Sood as its new Chief Executive Officer (CEO). The appointment will come into effect from 1 December 2014. Uninor is the local arm of Norwegian telecom operator Telenor.
He will replace the Present CEO Morten Karlsen Sorby. Present CEO Morten Karlsen Sorby has announced to resign due to some personal issues but he will remain as an advisor to the Uninor top management until 1 January 2015.
6. Chintan won Deutsche Bank Urban Age Award for the year 2014
Chintan, a non-government organisation was conferred the Deutsche Bank Urban Age Award, 2014 on 15 November 2014.
The award was given for cleaning the New Delhi railway station. Chintan is a non-government organisation working with waste pickers.
7. Infosys co-founders Gopalakrishnan and Shibulal launched Axilor Ventures
Infosys co-founders S. Gopalakrishnan and S.D.Shibulal on 19 November 2014 launched Axilor Ventures.
Axilor Ventures is a business incubator which will help entrepreneurs and early-stage firms to succeed in diverse verticals. The first batch of the accelerator programme will commence in the first quarter of 2015.
In its initial launch stage, Axilor will run three programmes — Accelerator, Entrepreneur-in-Residence and Early Stage Funding.
For the selected startups, the two will co-invest through individual funds ranging from 30 lakh rupees in the accelerator programme to 6 crore rupees in early-stage companies.
Uninor on 19 November 2014 announced the appointment of Vivek Sood as its new Chief Executive Officer (CEO). The appointment will come into effect from 1 December 2014. Uninor is the local arm of Norwegian telecom operator Telenor.
He will replace the Present CEO Morten Karlsen Sorby. Present CEO Morten Karlsen Sorby has announced to resign due to some personal issues but he will remain as an advisor to the Uninor top management until 1 January 2015.
6. Chintan won Deutsche Bank Urban Age Award for the year 2014
Chintan, a non-government organisation was conferred the Deutsche Bank Urban Age Award, 2014 on 15 November 2014.
The award was given for cleaning the New Delhi railway station. Chintan is a non-government organisation working with waste pickers.
7. Infosys co-founders Gopalakrishnan and Shibulal launched Axilor Ventures
Infosys co-founders S. Gopalakrishnan and S.D.Shibulal on 19 November 2014 launched Axilor Ventures.
Axilor Ventures is a business incubator which will help entrepreneurs and early-stage firms to succeed in diverse verticals. The first batch of the accelerator programme will commence in the first quarter of 2015.
In its initial launch stage, Axilor will run three programmes — Accelerator, Entrepreneur-in-Residence and Early Stage Funding.
For the selected startups, the two will co-invest through individual funds ranging from 30 lakh rupees in the accelerator programme to 6 crore rupees in early-stage companies.
8. Tech Mahindra acquires Lightbridge Communications for $240 million
Tech Mahindra, on Thursday, announced that it had signed a definitive agreement to acquire U.S.-based network services company Lightbridge Communications Corporation (LCC) for an enterprise value of about $240 million in an all-cash deal. This is the largest acquisition abroad and the second largest by Tech Mahindra after Satyam.
The acquisition is subject to regulatory approvals, and the transaction is expected to close by the fourth quarter of the company’s 2015 fiscal year, it said in a filing to the BSE. LCC, headquartered in McLean, Virginia, is one-of-the world’s largest independent global providers of network engineering services to the telecom industry. According to the filing, LCC employs more than 5,000 employees in over 50 countries.
This is the sixth acquisition made by the IT company in the last two years. In February, Tech Mahindra had acquired BASF Business Services Consult.
9. Flytxt wins award
Flytxt, a big data analytics provider for telecom operators, has won the iCMG Architecture Award of Excellence 2014 under the category ‘software architecture in IT products’.
The iCMG Architecture Excellence awards honour architects and enterprises whose work demonstrates a combination of talent, vision and workmanship to create successful and enduring systems and enterprises. Flytxt was nominated by an international jury and had competed with 12 leading names before emerging winner for its NEON 4.0 architecture, said Prateek Kapadia, Chief Technology Officer.
NEON is an advanced analytics-powered internal monetisation platform for telecom operators.
10. Future Group acquires supermarket chain Nilgiris
Future Consumer Enterprise Limited has bought supermarket chain Nilgiris.
A part of Kishore Biyani's Future Group, the company has bought out the stake of the promoters and PE fund Actis for an estimated Rs. 300 crore.
The acquistion will help the Future Group create a stronger retail network in the southern states.
11. GMR claims $803 mn from Maldives for cancellation of Male airport deal
GMR Male International Airport Pvt Ltd (GMIPL) has filed for a claim for damages of $803 million (about Rs. 4,987 crore) against the Maldives Government and Male Airports Company Ltd for ‘wrongful’ cancellation of concession agreement for the Maldives International Airport.
GMIAL had entered into a concession agreement with the Government of Maldives and Maldives Airport Company Ltd (MACL) for modernisation and operation of Ibrahim Nasir International Airport in 2010.
Flytxt, a big data analytics provider for telecom operators, has won the iCMG Architecture Award of Excellence 2014 under the category ‘software architecture in IT products’.
The iCMG Architecture Excellence awards honour architects and enterprises whose work demonstrates a combination of talent, vision and workmanship to create successful and enduring systems and enterprises. Flytxt was nominated by an international jury and had competed with 12 leading names before emerging winner for its NEON 4.0 architecture, said Prateek Kapadia, Chief Technology Officer.
NEON is an advanced analytics-powered internal monetisation platform for telecom operators.
10. Future Group acquires supermarket chain Nilgiris
Future Consumer Enterprise Limited has bought supermarket chain Nilgiris.
A part of Kishore Biyani's Future Group, the company has bought out the stake of the promoters and PE fund Actis for an estimated Rs. 300 crore.
The acquistion will help the Future Group create a stronger retail network in the southern states.
11. GMR claims $803 mn from Maldives for cancellation of Male airport deal
GMR Male International Airport Pvt Ltd (GMIPL) has filed for a claim for damages of $803 million (about Rs. 4,987 crore) against the Maldives Government and Male Airports Company Ltd for ‘wrongful’ cancellation of concession agreement for the Maldives International Airport.
GMIAL had entered into a concession agreement with the Government of Maldives and Maldives Airport Company Ltd (MACL) for modernisation and operation of Ibrahim Nasir International Airport in 2010.
12. Yahoo replaces Google as Firefox's default search engine
Yahoo will supplant Google’s search engine on Firefox’s Web browser in the U.S., signalling Yahoo’s resolve to regain some of the ground that it has lost in the most lucrative part of the Internet’s ad market.
The five-year alliance announced on Wednesday will end a decade-old partnership in the U.S. between Google Inc. and the Mozilla Foundation, which oversees the Firefox browser. The tensions between Google and Mozilla had been rising since Google’s introduction of the Chrome browser in 2008 began to undercut Firefox. Google’s current contract with Mozilla expires at the end of this month, opening an opportunity for Yahoo to pounce.
Even though Chrome is now more widely used, Firefox still has a loyal audience that makes more than 100 billion worldwide search requests annually.
Yahoo is hoping to impress Firefox users as the Sunnyvale-based company sets out to prove that it’s still adept at Internet search after leaning on Microsoft’s technology for most of the results on Yahoo’s own website for the past four years.
13. Saina goes down in Hong Kong Open quarters
Top Indian shuttler Saina Nehwal could not replicate her last week’s China Open title win as she went down in straight games in the women’s singles quarterfinals of the $350,000 Hong Kong Open Super Series in Hong Kong on Friday.
The third seeded Hyderabadi was upset by Chinese Taipei’s sixth seed Tai Tzu Ying 15-21, 19-21 in 39 minutes at the Hong Kong Coliseum. With the win, Tai bettered her career record to 3-5 against the World No.4 Saina.
Yahoo will supplant Google’s search engine on Firefox’s Web browser in the U.S., signalling Yahoo’s resolve to regain some of the ground that it has lost in the most lucrative part of the Internet’s ad market.
The five-year alliance announced on Wednesday will end a decade-old partnership in the U.S. between Google Inc. and the Mozilla Foundation, which oversees the Firefox browser. The tensions between Google and Mozilla had been rising since Google’s introduction of the Chrome browser in 2008 began to undercut Firefox. Google’s current contract with Mozilla expires at the end of this month, opening an opportunity for Yahoo to pounce.
Even though Chrome is now more widely used, Firefox still has a loyal audience that makes more than 100 billion worldwide search requests annually.
Yahoo is hoping to impress Firefox users as the Sunnyvale-based company sets out to prove that it’s still adept at Internet search after leaning on Microsoft’s technology for most of the results on Yahoo’s own website for the past four years.
13. Saina goes down in Hong Kong Open quarters
Top Indian shuttler Saina Nehwal could not replicate her last week’s China Open title win as she went down in straight games in the women’s singles quarterfinals of the $350,000 Hong Kong Open Super Series in Hong Kong on Friday.
The third seeded Hyderabadi was upset by Chinese Taipei’s sixth seed Tai Tzu Ying 15-21, 19-21 in 39 minutes at the Hong Kong Coliseum. With the win, Tai bettered her career record to 3-5 against the World No.4 Saina.
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ReplyDeletesir can you please upload the interview question can be asked in RRB Bank interviews or previous Interview Question.. plz
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