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Tower Semiconductor Eyes $8 Billion Chip Manufacturing Facility in India

According to the Indian Express, Israelbased Tower Semiconductor would build a $8 billion chip manufacturing plant in India. The plan seeks to build 4

According to the Indian Express, Israelbased Tower Semiconductor would build a $8 billion chip manufacturing plant in India. The plan seeks to build 40 and 65nanometer chips in India if government incentives are obtained. Chip production is consistent with Prime Minister Modis economic goals, albeit Tower Semiconductor and the Indian IT ministry have not yet commented on the issue. Nevertheless, prior attempts to provide the sector $10 billion in incentives were met with obstacles, resulting in the postponement or cancellation of some projects. Read More..

B2B Tech News | 5 days ago      

Tata Communications and Microsoft Collaborate to Enhance Enterprise Connectivity with Teams Integration

Through a partnership with Microsoft, Tata Communications can provide Indian businesses with improved connection and communication through Microsoft T

Through a partnership with Microsoft, Tata Communications can provide Indian businesses with improved connection and communication through Microsoft Teams. Using Microsofts Operator Connect and Tata Communications GlobalRapide technology, users may easily place and receive PSTN phone calls on Teams devices worldwide. Tata Communications guarantees regulatory compliance with relationships with over 700 mobile network providers and significant coverage across more than 190 countries. By providing endtoend managed services, deployment, onboarding, and improved security features, the GlobalRapide platform streamlines the management of the Teams platform. The VP of Unified Communications & Collaboration at Tata Communications, Sriram Sampath, highlights how the alliance may increase worker productivity while upholding regulatory compliance. According to Microsofts Country Head, Shruti Bhatia, the partnership aims to increase productivity and efficiency for Indian companies. Read More..

B2B Tech News | 5 days ago      

Crackdown on Cybercrime U.S. Authorities Seize Websites Linked to Malware Sales

The "Warzone RAT" virus, which may steal data, was found on websites made available for purchase by American authorities. Suspects were also apprehend

The "Warzone RAT" virus, which may steal data, was found on websites made available for purchase by American authorities. Suspects were also apprehended in Malta and Nigeria. Classified as a remote access trojan, the infection allowed hackers to access computers worldwide. It allowed them to browse the file system, record keystrokes, and spy on users webcams. Maltese citizen Daniel Meli has been charged with distributing malware since 2012. On the other hand, Nigerian citizen Prince Onyeoziri Odinakachi is charged with providing Warzone RAT assistance from 2019 to 2023. The United States is seeking Melis extradition, while Odinakachi is charged with conspiring to conduct computer intrusion offences. The solicitors for both parties defences have yet to be named. Read More..

B2B Tech News | 5 days ago      

AstraZeneca Shares Slide Despite Strong 2023 Financials

AstraZeneca posted strong financial results for 2023, including $45.8 billion in revenue and a gross profit of more than $37.5 billion. Still, its sha

AstraZeneca posted strong financial results for 2023, including $45.8 billion in revenue and a gross profit of more than $37.5 billion. Still, its shares fell by about 4% on the London Stock Exchange. The corporation made a point of highlighting how much of its sales came from cancer medications. Investors, however, did not appear thrilled, maybe due to the company missing fourthquarter profit estimates explained by higher research expenditures and lower margin sales in emerging regions. Although there is hope for cancer and rare illness treatments, AstraZeneca has to maintain growth in the face of shifting market conditions. Furthermore, the companys foray into developing obesity drugs complements its strategic efforts with the decline in demand for its COVID19 vaccination. Pascal Soriot, the CEO, is nevertheless upbeat about the potential for future development. Read More..

B2B Tech News | 6 days ago      

India Nears Historic Free Trade Agreement with European Free Trade Association

India and the European Free Trade Association EFTA, comprised of Switzerland, Norway, Iceland, and Liechtenstein, are finalising a historic free trade

India and the European Free Trade Association EFTA, comprised of Switzerland, Norway, Iceland, and Liechtenstein, are finalising a historic free trade agreement FTA. Following sixteen years of discussions, this agreement provides improved market access in exchange for a substantial investment in India that might total up to $100 billion over fifteen years. Investment assurances are included, but once final negotiations occur, it is clear if they will be binding. The agreement intends to stimulate private sector investments and increase bilateral commerce, particularly with Switzerland, which might create over a million jobs. Indias pursuit of several trade agreements, such as those with the UK, EU, and Australia, highlights the need for strategic economic diversification in the face of shifting global supply chains away from China. Read More..

B2B Tech News | 6 days ago      

U.S. Pledges Additional Funding to Enhance Metal Exports from Central Africa

The United States commits further finance to the Lobito Corridor, enabling Zambia and other countries in Central Africas Copperbelt to export copper.

The United States commits further finance to the Lobito Corridor, enabling Zambia and other countries in Central Africas Copperbelt to export copper. Amos Hochstein, the US energy ambassador, emphasises how crucial it is to avoid South Africas logistical roadblocks for exports of copper and cobalt, which are essential to the energy revolution. With plans for additional investment, a group led by Trafigura, MotaEngil, and Vecturis SA was able to acquire a 30year railway services concession. Hochstein said that $250 million will be allocated for the Angola phase, and he expects a comparable amount for the Zambia phase. The project, supported by over $1 billion raised with partners including the Africa Finance Corporation, intends to have operational rail by 2028. Read More..

B2B Tech News | 6 days ago      

Zomato Hits New 52Week High as Q3FY24 Net Profit Soars 283%

In the wake of Zomato Ltd.s impressive results in the quarter ended December 2023, the companys shares shot up to a new 52week high of Rs 151.45. The

In the wake of Zomato Ltd.s impressive results in the quarter ended December 2023, the companys shares shot up to a new 52week high of Rs 151.45. The companys net profit increased by an astounding 283% from quarter to quarter, from Rs 36 crore to Rs 138 crore during the same time last year. Because of Zomatos remarkable rise in operating revenue, positive adjusted EBITDA, and substantial success in its quickcommerce subsidiary, Blinkit, most analysts are optimistic about its future. Jefferies continues to recommend the company as a "buy," estimating that over the following years, delivery revenue would expand at a compound annual growth rate of 25% to 30%. Kotak Institutional Equities highlights Zomatos rising margins and steady growth trajectory to support its optimistic outlook. Read More..

B2B Tech News | 6 days ago      

LICs Standalone Net Profit Surges 49% in Q3FY24, Shares Soar Over 6%

After LIC announced a 49% yearoveryear increase in standalone net profit for Q3FY24, hitting Rs 9,444 crore, the companys shares shot up more than 6%.

After LIC announced a 49% yearoveryear increase in standalone net profit for Q3FY24, hitting Rs 9,444 crore, the companys shares shot up more than 6%. LIC is now the fourth most valuable domestic listed firm, with a market valuation of about Rs 7.43 lakh crore, thanks to this development. From the stocks March 2023 52week low, it has increased by about 120%. Additionally, LIC announced an interim dividend of Rs 4 per share, the first since the companys May 2022 Dalal Street launch. Important growth indicators were new business value and Annual Premium Equivalent APE. In contrast, GNPA declined, and the solvency ratio increased. AUM increased 11.98% YoY to Rs. 49.66 lakh crore. Read More..

B2B Tech News | 6 days ago