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GLOBAL NEWS

National Stock Exchange of India Reapplies for IPO, Eyes $3.2 Billion Valuation Amid Market Boom

One of Indias most extensive initial public offerings IPOs, the National Stock Exchange of India NSE, has finally started its longdelayed public offer

One of Indias most extensive initial public offerings IPOs, the National Stock Exchange of India NSE, has finally started its longdelayed public offering process. Regarding volume, the Securities and Exchange Board of India SEBI has received a reapplication from NSE, the largest derivatives exchange globally, requesting a "noobjection" to move on with the IPO. NSEs initial goal was a 10% stake sale, which, based on its projected valuation of 2.7 trillion Indian rupees $32.18 billion, could have put the IPOs worth at about $3.2 billion. Existing shareholders, including significant organisations like the State Bank of India and Life Insurance Corporation of India, can sell their shares through the IPO. The June quarter earnings rise for NSE was 39% year over year, fuelled by a thriving options trading sector. Read More..

B2B Tech News | 1 months ago      

Scandinavian Airline SAS Emerges from Chapter 11 Bankruptcy After Restructuring $2 Billion in Debt

The Scandinavian airline SAS has successfully concluded its reorganisation and stepped out of the United States Chapter 11 bankruptcy. A US bankruptcy

The Scandinavian airline SAS has successfully concluded its reorganisation and stepped out of the United States Chapter 11 bankruptcy. A US bankruptcy judge accepted the airlines reorganisation plan in March, which included restructuring nearly $2 billion in debt and adjusting its aircraft fleet. A group including the Danish government, investment firm Lind Invest, Air FranceKLM, and hedge fund Castlelake invested $1.2 billion in the reorganisation. This transaction comprised $725 million in secured convertible debt and $475 million in new stock. Furthermore, SAS settled a pay dispute with its Norwegian cabin staff, ending a walkout that had caused flight disruptions. Read More..

B2B Tech News | 1 months ago      

IDC Upgrades 2024 Smartphone Shipment Forecast to 1.23 Billion Units, Driven by AI Features

In its most recent estimate, the research organisation IDC has raised its prediction for the number of smartphones shipped globally in 2024 from 4% to

In its most recent estimate, the research organisation IDC has raised its prediction for the number of smartphones shipped globally in 2024 from 4% to 5.8%, or 1.23 billion devices. Recovering consumer demand and the allure of new artificial intelligence AI features drove a robust first half of the year, reflected in this adjustment. According to IDC, one significant development is including generative artificial intelligence GenAI in cell phones, especially in higherend models. Over the year, shipments of GenAI phones are predicted to increase by 344%, accounting for 18% of the market. With businesses like Apple and Google incorporating AI into their newest gadgets to spur development and combat global sales slowdowns, particularly in China, this change is noteworthy given the challenging economic times. Read More..

B2B Tech News | 1 months ago      

Apple Teams Up with Airtel to Offer Free Streaming Services to Premium Customers

By collaborating with Airtel, an Indian telecommunications company, Apple will provide free music and movie streaming services to Airtels premium user

By collaborating with Airtel, an Indian telecommunications company, Apple will provide free music and movie streaming services to Airtels premium users, therefore increasing its market share in the fiercely competitive Indian entertainment sector. In a pricesensitive market dominated by competitors like Netflix, Amazon Prime Video, Disney+ Hotstar, and JioCinema, the agreement, which bundles Apple TV+ and Apple Music with premium Airtel WiFi and postpaid plans, attempts to draw in more consumers. Later this year, Apple services will be made available to Airtels premium users, replacing the Wynk music app that Airtel once offered. With over 281 million subscribers, Airtel is strategically lining up against Reliance Jios 489 million people. Read More..

B2B Tech News | 1 months ago      

Samsung SDI and GM Finalize $3.5 Billion EV Battery Factory in Indiana

A deal to construct a combined electric vehicle EV battery facility in Indiana, USA, was finalised by General Motors GM and Samsung SDI of South Korea

A deal to construct a combined electric vehicle EV battery facility in Indiana, USA, was finalised by General Motors GM and Samsung SDI of South Korea. A facility that can initially produce 27 gigawatt hours GWh and potentially expand to 36 GWh will be funded by a $3.5 billion investment. Expected to start in 2027, the factory will add to GMs battery technology portfolio by producing prismatic cells rich in nickel. After the announcement, Samsung SDIs shares increased by 3.2%, while the KOSPI fell by 0.3%. This project represents continuous attempts to improve the performance and manufacture of EV batteries. It was first announced in April 2023. Read More..

B2B Tech News | 1 months ago      

Phronetic.AI Unveils Advanced Women Safety Feature in AI Facility Manager, Leveraging Theia Vision Technology

Phronetic.AI has added a new feature to its AI Facility Manager product titled "women safety." Phronetic.AI is a subsidiary of Infibeam Avenues Ltd.,

Phronetic.AI has added a new feature to its AI Facility Manager product titled "women safety." Phronetic.AI is a subsidiary of Infibeam Avenues Ltd., the leading financial company in India. This feature improves CCTV capabilities by utilising Theia vision AI technology, offering increased safety for women in public and professional settings. With Human Action Recognition HAR, conventional CCTV systems may now function as intelligent surveillance tools by analysing and comprehending human behaviours in live or recorded video. This improvement, brought about by a sad occurrence in Kolkata and growing corporate demand, enables swift emergency responses and proactive monitoring while being affordable and adaptable to different organisational requirements. Read More..

B2B Tech News | 1 months ago      

Broadcom Unveils VMware Cloud Foundation 9 A Leap Forward in Private Cloud Efficiency and AI Integration

Broadcom presented VMware Cloud Foundation 9 VCF 9, the next iteration of its private cloud technology, at VMware Explore 2024. The main goals of this

Broadcom presented VMware Cloud Foundation 9 VCF 9, the next iteration of its private cloud technology, at VMware Explore 2024. The main goals of this version are to improve AI capabilities, strengthen security and resilience, and streamline and standardise private cloud installations. With critical features like unified operations and automation, expanded import capabilities, advanced NVMe memory tiering, integrated multitenancy, native VPC deployment, and accelerated AI support with VMware Private AI Foundation with NVIDIA, VCF 9 aims to eliminate infrastructure silos, manage public cloud sprawl, and unlock AI potential. To spur innovation, Broadcom also unveiled VCF Advanced Services and tools to help clients embrace private clouds. Read More..

B2B Tech News | 1 months ago      

Social Media Platform X Experiences Widespread Outages, Over 30,000 Incidents Reported Globally

Global social networking site X users were affected by extensive disruptions that occurred on Wednesday. Over 30,000 occurrences were recorded globall

Global social networking site X users were affected by extensive disruptions that occurred on Wednesday. Over 30,000 occurrences were recorded globally by the outage tracking website Downdetector.com during the disruption. Downdetector.com also gathered thousands of reports from India, demonstrating the issues noteworthy scope. To offer a thorough picture of service interruptions, Downdetector gathers status updates from several sources, including direct user feedback, to track outages. The outage in India received over 1,100 reports at its height. Thankfully, things are improving a significant drop in reported concerns suggests that services have mostly resumed. Read More..

B2B Tech News | 1 months ago