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L&T Technology Services Secures $100 Million Cybersecurity Program in India

The Maharashtra State Cyber Department has awarded a groundbreaking programme for around $100 million Rs 800 crore to L&T Technology Services LTTS, a

The Maharashtra State Cyber Department has awarded a groundbreaking programme for around $100 million Rs 800 crore to L&T Technology Services LTTS, a division of Larsen & Toubro L&T, in India. This effort aims to enhance public safety by employing cuttingedge cybersecurity measures. This initiative will be led by LTTS in association with KPMG Assurance and Consulting Services, emphasising developing a sophisticated cybersecurity system and setting up a centre specifically for cybersecurity and cybercrime prevention. The programme will use Artificial Intelligence AI and digital forensic techniques, such as deep fake and mobile malware forensics, to improve cyber threat identification and response capabilities. LTTS will also create a Centre of Excellence and a Digital Threat Analytics Centre, a stateoftheart Security Operations Centre SOC driven by AI and machine learning technologies, and a Central Emergency Response Team. This historic agreement demonstrates LTTSs dedication to develo Read More..

B2B Tech News | 1 months ago      

Deal to Sell Majority Stake in South African Airways Collapses, Minister Confirms

The plan to sell most South African Airways SAA has fallen through, the countrys minister of public enterprises, Pravin Gordhan, has said. Although th

The plan to sell most South African Airways SAA has fallen through, the countrys minister of public enterprises, Pravin Gordhan, has said. Although the government and Takatso had previously approved the sale, Gordhan said there was no obvious way forward following a fresh business and asset appraisal. The agreement had been negotiated for three years. The COVID19 pandemics effects on air travel caused SAA, which faced liquidation concerns before filing for bankruptcy protection in 2019, to experience significant financial difficulties. To break the cycle of bailouts, the government has looked for a strategic equity partner to stabilise the airlines finances. As a result, a controlling interest sale to the Takatso Consortium was scheduled for 2021, aiming to end the cycle of bailouts to the flag carrier. Read More..

B2B Tech News | 1 months ago      

U.S. Government Plans to Grant Samsung Over $6 Billion to Support Chipmakers Expansion

Sources familiar with the situation told Bloomberg News on Thursday that the U.S. government intends to award Samsung Electronics Co 005930. K.S. mor

Sources familiar with the situation told Bloomberg News on Thursday that the U.S. government intends to award Samsung Electronics Co 005930. K.S. more than $6 billion to boost the chipmakers growth ambitions beyond its stated project in Texas. The CHIPS Act, which intends to increase chip manufacture in the U.S., includes this incentive. Samsung, nevertheless, chose not to address the issue. According to reports from last year, the South Korean corporation is building a chip facility near Taylor, Texas, with expenses exceeding earlier projections, coming in at over $25 billion instead of the projected $17 billion. Read More..

B2B Tech News | 1 months ago      

Adobes ADBE.O SecondQuarter Revenue Forecast Disappoints, Shares Drop Over 10%

In a challenging economic climate, Adobe ADBE.O revealed lowerthanexpected revenue for the second quarter, disappointing investors. The company attrib

In a challenging economic climate, Adobe ADBE.O revealed lowerthanexpected revenue for the second quarter, disappointing investors. The company attributed this to intense competition and poor demand for AIintegrated photography, illustration, and video tools. The announcement caused a 10%+ decline in the companys stock. While Adobe has added AI capabilities to products like Acrobat, Photoshop, and Premiere Pro, it still has competition from companies that provide comparable services. Analyst forecasts of $5.31 billion exceeded the secondquarter sales prediction of $5.25 billion to $5.30 billion. Nevertheless, Adobe exceeded projections with a firstquarter sales gain of more than 11% to $5.18 billion. The business also announced the launch of a new $25 billion stock repurchase programme. Read More..

B2B Tech News | 1 months ago      

Nvidias Dominance in AI Chips Set to Continue with Upcoming Flagship Products

Nvidia and its CEO, Jensen Huang, currently hold a dominant position in the tech world as the leading supplier of artificialintelligence chips. The co

Nvidia and its CEO, Jensen Huang, currently hold a dominant position in the tech world as the leading supplier of artificialintelligence chips. The companys upcoming flagship products, to be unveiled at its annual developer conference, are expected to further solidify its market position. With a market capitalization exceeding $2 trillion and revenue projected to soar, Nvidias recent performance has been impressive. However, the key question is whether Nvidia can maintain its dominance in AI computing in the long term. The companys nextgeneration AI processor, the B100, is anticipated to play a central role in this effort. Despite challenges such as supply constraints and competition from Chinese rivals, analysts remain optimistic about Nvidias future prospects, although concerns about valuation persist amidst rapid growth. Additionally, Nvidias expansion into cloud services and software offerings is closely monitored for its impact on the competitive landscape. Read More..

B2B Tech News | 1 months ago      

Biden Administration to Award MultiBillion Dollar Grant to Intel for Chip Production Expansion

President Joe Biden and Commerce Secretary Gina Raimondo will give Intel an award worth billions of dollars to increase chip manufacturing in the Unit

President Joe Biden and Commerce Secretary Gina Raimondo will give Intel an award worth billions of dollars to increase chip manufacturing in the United States. Under the 2022 CHIPS and Science Act, Intel will get grants and loans for the event, which takes place in Arizona the following week. With significant financing, this effort seeks to increase domestic semiconductor output. The overarching objective of decreasing dependency on overseas chip production, especially in China and Taiwan, aligns with Intels development plans in Arizona and Ohio. The action indicates a calculated attempt to improve the American chip industrys standing in the international semiconductor marketplace. Read More..

B2B Tech News | 1 months ago      

France Travail Discloses Cyberattack Impacting 43 Million Individuals

Formerly known as Pôle Emploi, France Travail revealed a cyberattack in which hackers gained access to networks that may have affected 43 million peo

Formerly known as Pôle Emploi, France Travail revealed a cyberattack in which hackers gained access to networks that may have affected 43 million people. Over the previous 20 years, the attack targeted the personal information of job searchers, including social security numbers, complete names, and dates of birth. The French data protection body, CNIL, is alerting people to the dangers of identity theft. Passwords and bank information are still safe, but its advisable to be on the lookout for phishing efforts. The Paris prosecutors office is the recipient of complaints from those impacted. This event is more significant than past breaches, suggesting a worrying trend in cyber assaults aimed at personal data in France. Read More..

B2B Tech News | 1 months ago      

IDC Survey Highlights Cybersecurity Challenges in India, with Phishing and Insider Threats Dominating Concerns

According to an International Data Corporation survey on security operations SecOps in AsiaPacific, India has serious cybersecurity difficulties, whic

According to an International Data Corporation survey on security operations SecOps in AsiaPacific, India has serious cybersecurity difficulties, which Fortinet commissioned. Concerns are primarily about phishing and insider attacks, although ransomware cases have doubled. Remote work makes Insider threat events worse, and SecOps teams—which handle 221 occurrences a day on average—are afflicted by alert fatigue. Even with the adoption of automation techniques, optimization still has unrealized potential. Businesses prioritise responding to threats quickly, and their top investments are strengthening staff cyber awareness, network and endpoint security, and threat hunting and response capabilities. These results highlight the importance of taking proactive steps in cybersecurity and making wise financial decisions to combat changing cyber threats effectively. Read More..

B2B Tech News | 1 months ago