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GLOBAL NEWS

Australia Secures TopSecret Intelligence with AWS in A$2 Billion Cloud Deal

Australia will transfer its topsecret intelligence data to the cloud through a $2 billion agreement with Amazon Web Services AWS, improving defence fo

Australia will transfer its topsecret intelligence data to the cloud through a $2 billion agreement with Amazon Web Services AWS, improving defence force interoperability with the US military. Data resilience will be increased by utilising dispersed, purposebuilt AWS infrastructure, according to Defence Minister Richard Marles. Additionally, the Australian Signals Directorate ASD plans to increase the amount of artificial intelligence AI it uses to analyse data. Director General of ASD Rachel Noble stressed AIs responsible and moral usage. The cloud migration ensures robust data management, which supports critical activities such as the F35A joint strike fighter. Prime Minister Anthony Albanese said the collaboration would also improve national security capacities and generate 2,000 local employment. Read More..

B2B Tech News | 2 months ago      

EUFunded INPHOMIR Project to Enhance Satellite Navigation with UltraLowPower Sensors

Ultralowpower sensors are being developed by an EUfunded collaboration to improve satellite navigation and allow longer drone flights. The INPHOMIR pr

Ultralowpower sensors are being developed by an EUfunded collaboration to improve satellite navigation and allow longer drone flights. The INPHOMIR project intends to develop an optical gyroscope and a customised lidar sensor to increase the price and efficiency of space missions. The €5 million $5.38 million initiative, funded by the Horizon Europe programme, aims to lessen navigational difficulties in challenging environments, including dust and limited visibility. The sensors promise smaller dimensions and increased efficiency by using indium phosphide in photonic integrated circuits. Drones and selfdriving automobiles may ultimately benefit from this technology. Amidst growing satellite traffic and space debris, project supervisor Daniele Palaferri stressed the possibility of better satellite locations and fruitful space exploration. Read More..

B2B Tech News | 2 months ago      

CAMS and Google Cloud Partner to Modernize Mutual Funds Platform

Together with Google Cloud, Computer Age Management Services Limited CAMS, Indias top mutual fund registration and transfer agent, is creating a cutti

Together with Google Cloud, Computer Age Management Services Limited CAMS, Indias top mutual fund registration and transfer agent, is creating a cuttingedge platform for mutual funds, alternative investments, and KYC Registration Agency KRA. Having been a key player in Indias asset management market for almost 30 years, CAMS wants to use cloudbased platforms and cuttingedge technology to update its platform and better cater to investors accustomed to digital media. CAMS MD Anuj Kumar highlighted the platforms scalability, adaptability, and minimal downtime. Google Cloud Indias Bikram Singh Bedi emphasised the expansion of the sector and the partnerships contribution to safe and effective transactions. The platform will be customised to meet the demands of the Indian market and include AI and automation for improved efficiency and security. Read More..

B2B Tech News | 2 months ago      

Tech Mahindra Unveils Project Indus AI Model for Indic Languages

With an initial focus on Hindi and its more than 37 dialects, Tech Mahindra has introduced Project Indus, an indigenous fundamental paradigm for speak

With an initial focus on Hindi and its more than 37 dialects, Tech Mahindra has introduced Project Indus, an indigenous fundamental paradigm for speaking in several Indic languages and dialects. Indus LLM leverages Intels infrastructure, including Xeon Processors and Gaudi AI Accelerators, with Dell Technologies computing products to streamline AI model deployment for businesses through a "GenAI in a box" architecture. Through specialised applications in healthcare, education, finance, and other fields, our partnership seeks to revolutionise AIdriven solutions across sectors. Tech Mahindras Nikhil Malhotra emphasises how this effort has led to innovation and operational excellence. This initiative is a turning point in the rapidly expanding global GenAI market and demonstrates Tech Mahindras dedication to scalable, affordable AI solutions. Read More..

B2B Tech News | 2 months ago      

Siemens Energy to Hire Over 10,000 Employees Amid Rising Power Demand

In response to rising power demand, Siemens Energy ENR1n.DE intends to hire over 10,000 people and invest €1.2 billion $1.29 billion in its electric

In response to rising power demand, Siemens Energy ENR1n.DE intends to hire over 10,000 people and invest €1.2 billion $1.29 billion in its electrical grid business over the next six years. The head of Grid Technologies, Tim Holt, highlighted the anticipated surge in grid investments worldwide over the next fifteen years. The €1.2 billion will be used by the Grid Technologies business to build new plants and expand its production capabilities in the US, Europe, and Asia. The US, India, and various regions of Asia and Latin America will account for the remaining 40% of new employment, with the majority located in Europe. The 2020 spinoff Siemens Energy is also facing difficulties in its wind turbine division, Siemens Gamesa. Read More..

B2B Tech News | 2 months ago      

Cairo Meeting Yields MultiBillion Dollar Deals Between Egypt and EU

Billions of euros worth of deals were signed during the summit in Cairo, which EU Commission Chief Ursula von der Leyen and President Abdel Fattah elS

Billions of euros worth of deals were signed during the summit in Cairo, which EU Commission Chief Ursula von der Leyen and President Abdel Fattah elSissi attended. This meeting comes after a $7.9 billion aid package was approved in March to support Egypt battling its economic crisis, worsened by growing debt, inflation, and currency scarcity. Most of the package comprises small and mediumsized loans, and Cairo will also need to deal with irregular migration and boost energy exports to Europe. Human rights organisations have criticised similar agreements with Mauritania, Libya, and Tunisia. The EU sees Egypts natural gas reserves as essential to displacing Russian energy. Egypts attractiveness to European investment was demonstrated by the over 20 agreements totalling over €40 billion that European businesses inked. Read More..

B2B Tech News | 2 months ago      

Sodexos Q3 Sales Rise to €6.07 Billion, Slightly Below Expectations

The French food caterer Sodexo had thirdquarter sales that were somewhat lower than anticipated because of a slowdown in China and adjustments to reve

The French food caterer Sodexo had thirdquarter sales that were somewhat lower than anticipated because of a slowdown in China and adjustments to revenue recognition for a few fixedterm contracts in Australia. Revenue missed the target of €6.11 billion, rising 6.8% organically to €6.07 billion $6.51 billion. Due to weaker price impacts, higher comparative numbers, and the second quarters favourable impact from the leap year, organic growth decreased. Sodexo is raising prices to combat excessive inflation, even after it spun off its voucher firm Pluxee in February. This quarters price hikes are less than 4%, compared to almost 5% last year. The business released its expectations for the Augustending fiscal year. Read More..

B2B Tech News | 2 months ago      

Revolut Reports £438 Million Pretax Profit for 2023, Surging from Previous Years Loss

Revolut, a British fintech company, reported a pretax profit of £438 million in 2023 after suffering a £25.4 million loss the year before. This was

Revolut, a British fintech company, reported a pretax profit of £438 million in 2023 after suffering a £25.4 million loss the year before. This was an impressive turnaround for the company. Predictably, revenue exceeded £1.8 billion, fueled by solid user growth and more interestrelated activity revenue. The firm wants to establish itself as the top startup in Europe and aims for a valuation of over $40 billion through a $500 million share sale. Revolut is still awaiting permission to obtain a UK banking licence after applying three years ago CEO Nikolay Storonsky is optimistic about the outcome. Due to investor apprehension following the epidemic, the fintech industry in Britain is under more scrutiny, emphasising how crucial it is for businesses like Revolut to show consistent profitability and regulatory compliance. Read More..

B2B Tech News | 2 months ago