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Tata Communications, a digital ecosystem enabler, announced that the Asia Direct Cable (ADC) Consortium, of which it is a member, is building a high-performance submarine cable connecting China (Hong Kong SAR and Guangdong Province), Japan, the Philippines, Singapore, Thailand and Vietnam. The consortium has selected NEC Corporation to construct the 9,400-kilometer long ADC cable, which…
Indian automobile company and owner of Jaguar Land Rover, Tata Motors is reportedly planning to cut 1,100 temporary jobs as it moves ahead with cost-cutting measures as the coronavirus pandemic hits at the company’s revenues. Tata Motor’s Chief Financial Officer PB Balaji recently said that Tata Motors expects to save 5 billion pounds in costs…
Brazilian planemaker Embraer recently announced that the head of its Commercial Aviation Unit, John Slattery is leaving his position to become the Chief Executive Officer of GE Aviation. Embraer said that Slattery will be replaced by company Chief Commercial Officer Arjan Meijer. Slattery’s resignation comes just weeks after the deal between Embraer and Boeing collapsed.…
German charter airline company Condor will slash up to 25% of its workforce to reduce costs and recover its business which is severely impacted by the coronavirus pandemic. The announcement was made by the airline’s Chief Executive Officer Ralf Teckentrup while speaking to German newspaper Frankfurter Allgemeine Sonntagszeitung weekly. “Like other airlines, we will have…
PaisaBazaar, the digital lending arm of PolicyBazaar recently said that it has laid off about 1,500 employees to bring down operational costs as the company’s business struggles due to the coronavirus pandemic. According to a Mint report, the layoffs constitute about half of the company’s workforce and are predominantly from roles involving operations and business…
Mastercard, a global technology company in the payments industry, announced the extension of its partnership with Facebook to offer a new and innovative way for Brazilians to send and receive money from friends and family on the WhatsApp application. Mastercard cardholders banking with Nubank and Sicredi are among the first in Brazil to experience payments…
Lockheed Martin Corporation, a global security and aerospace company, announced that it has appointed James D. Taiclet as President and CEO. He succeeds Marillyn A. Hewson, who has served as chairman, president and CEO since 2014 and president and CEO since 2013. Taiclet will continue to serve as a member of the corporation’s board, which…
San Francisco-based fintech startup Synapse is reportedly laying off 50% of its full-time workforce. According to a Forbes article citing an estranged employee, the company terminated 68 employees from its 130 strong workforce over a Zoom call. Founded by Sankaet Pathak, the company makes digital banking software for other fintechs, letting them quickly launch features…
Electromagnetic spectrum management solutions provider, APITech recently announced that it has appointed Ian Skiggs as the Vice President and Managing Director of the RF2M (RF Microwave & Microelectronics) EMEIA and SSIA (Secure Solutions & Information Assurance) business units. Ian will lead all operations, product line management, and program management for the Business Unit. He will…
Crimson Healthcare, a Delhi-based medtech startup focused on innovating cutting edge solutions for various problems in the healthcare system with advanced engineering and technologies, announced that it has raised a funding of Rs 1.75 crore from Mumbai Angels Network, according to YourStory report. Founded in 2015 by Pranav Chopra and Neeraj Kumar, Crimson Healthcare is…
Global healthcare company, IRRAS recently announced the promotion of Will Martin to the position of President and Chief Commercial Officer. The company said in a statement that, “Will Martin’s promotion supports the company’s ongoing acceleration of its commercial launch.” In this expanded role, Will Martin will continue to direct IRRAS’ global sales and marketing efforts…
Mapletree, a real estate development, investment, capital and property management company headquartered in Singapore, announced that it has acquired an under-construction logistics park in Pune’s Chakan area from KSH Infra Industrial Park for Rs 300 crore, said three persons with direct knowledge of the development, according to an ET report. Avendus Capital acted as the…
Mundipharma network of independently associated companies recently announced that it has appointed Marc Princen as the Global Chief Executive Officer, effective June 1, 2020. In his new role, Princen will be responsible for all Mundipharma strategic and operational matters globally, focusing on seamless execution of the 2020-2023 Business Plan. Speaking of the appointment, Jacques Theurillat,…
Edvizo, an education-technology startup that acts as a marketplace for competitive exam institutes, announced that it has raised $150,000 in seed funding from Inflection Point Ventures. The infusion from IP Ventures marks the company’s first institutional investment, CNBC-TV18 reported. The startup said that it will use the capital to enhance its technological infrastructure, strengthen its…
Tata Power, India’s largest integrated power company, announced that Tata Power Renewable Energy Limited, the Company’s wholly owned subsidiary, has received a Letter of Award from Gujarat Urja Vikas Nigam Limited (GUVNL) on 12th June 2020 to develop a 120 MW solar project in Gujarat. “The energy will be supplied to GUVNL under a Power…