Times of India — BEIJING: Indian online marketplace Snapdeal is set to raise $500 million from a group of foreign investors including China’s Alibaba Group Holding Ltd, three people familiar with the matter said on Monday. One of the people said the deal could be finalized within a few days at the earliest but may also take weeks.
Times of India — HYDERABAD: US headquartered global system integratorTechwave Consulting Inc has opened its second office in Hyderabad at an investment of $3 million. The facility was formally inaugurated by Telangana IT and panchayat raj minister KT Rama Rao on Saturday.
Tech Crunch — Alibaba Group announced today that it will invest a further $1 billion into Aliyun, its cloud computing unit. The capital will be used to expand Aliyun, which currently has data centers in China, Hong Kong, and Silicon Valley, into other international markets. The company plans to target the Middle East, where it recently formed a joint venture with Dubai-based holding company Meraas, Singapore, Japan, and Europe.
Amazon beat Q2 earnings expectations Thursday afternoon, sending the stock sky-rocketing. Growth in Amazon Web Services, the company’s profitable cloud computing business, soaked up much of the spotlight on the company’s subsequent earnings call, but there was one other topic that investors and analysts kept bringing up: India.
Telecom Asia — Four in five companies worldwide have adopted the Internet of Things in some way, and companies in the APAC region are investing an average of $63.1 million on IoT technologies, new research shows. A survey by Tata Consultancy Services shows that around 39% of companies in the APAC region use IoT technologies to track their customers through their mobile devices.
Business Finance News — Alibaba Group Holding Ltd. steps up as a competitor to Amazon.com, Inc. in the cloud computing industry; announcing its plans to increase its investment in data centers in the Middle East, US, and India. The e-commerce giant’s cloud computing arm, Aliyun released a “Data Protection Pact,” which entails the expansion into markets beyond China; customers using cloud computing platforms will have “absolute ownership” of their data, along with the right to share, transfer, exchange, delete, and access the content at any time.
Asia One — SINAHPORE : Acronis, which provides back-up, disaster recovery and other data protection services, will open a research and development (R&D) centre in Singapore. It hopes to make this one of the largest software research facilities in the country within three to five years.
Digi Times — Direct investment from Japan in China declined 16.3% on year in the first half of 2015 to $2 billion, according to new statistics from the China Ministry of Commerce. Various Japan- and China-based media reports have said the decline comes as companies are cautious about investment in light of a slowing China economy in addition to rising labor costs.
Want China Times — Baichuan, a mobile open platform launched by Chinese internet giant Alibaba Group last October, announced on July 16 that it plans to provide 1 billion yuan (US$161 million) in funds and 1 billion yuan in short-term loans for start-ups in China to develop mobile apps on the platform, reports West China City News.
PR Newswire — SHANGHAI: VMware, a global leader in cloud infrastructure and business mobility, today announced that it has centralized its business mobility sales team in Asia Pacific and Japan to be led by Sanjay Deshmukh, general manager, business mobility, Asia Pacific and Japan, VMware. The integrated go-to-market sales team will address customer demand for a holistic approach to managing IT, based on VMware’s Architecture for New IT that enables any application to securely run on any device.
China Tech News — Alibaba Group may soon enter into an agreement with Micromax, a mobile phone manufacturer in India, to purchase a 25% stake in the latter for USD700 million. According to reports in Indian local media, this will become the first time for Alibaba to buy Indian phone maker shares as a foreign investor if the deal is successfully signed.
IT Wire — Penn delivered his first speech as CEO at the Committee for Economic Development of Australia (CEDA) lunch today, and we reprint it here in full. Australians haven’t yet had the opportunity to hear him publicly speak since it was announced in February that he would over the top job from David Thodey.
ZDNet — China’s Alibaba Group is increasing its stake and investments in Singapore Post (SingPost), pumping in US$206.45 million to drive the development of e-commerce infrastructure and services in the region. The Chinese e-commerce giant will invest an estimated S$92 million (US$67.85 million) for a 34 percent stake in SingPost-subsidiary Quantium Solutions International (QSI), which provides e-commerce logistics and fulfilment services including warehousing in the Asia-Pacific region.
Digi Times — The Foxconn Group apparently has slowed down its investment in Vietnam as the group has continued to build up production lines in India and Indonesia in order to roll out products for emerging markets, according to industry sources. The Vietnam government has recently canceled a license it granted to Foxconn in 2008 to build a US$200 million plant for the production of handsets, PC systems and other electronics as the Taiwan-based EMS giant has so far failed to carry out the planned investment project.
Korea Times — U.S.-based mobile chip giant Qualcomm will invest up to 100 billion won ($90 million) in Korean startups to foster innovation and entrepreneurship in the economy. The decision comes after its executive chairman, Paul E. Jacobs, visited Korea to celebrate Qualcomm’s 30th anniversary and 25 years of relations with Korea.
Vietnam Net — The project, which was approved by the Government in 2010, is funded through 400 million USD from Japan ’s official development assistance (ODA) and the balance from the Vietnamese Government. In March 2012, the Ministry of Finance and the Japan International Cooperation Agency (JICA) signed a loan agreement worth over 15.2 billion JPY (123.2 million USD) for the project.
The Star — Ratan Tata, chairman emeritus of the holding company of India’s Tata conglomerate, has bought a stake in online taxi-hailing firm Ola, the company said. Tata, a respected business leader who was the chairman of salt-to-software Tata Sons for more than two decades, has previously invested in start-ups ranging from online retailer Snapdeal to Chinese phone maker Xiaomi.
Vietnam Net — Le Huynh Minh Tu from the department unveiled the city’s higher-than-allowed spending on science and technology at a meeting between the Economic and Budgetary Committee of the HCMC People’s Council and the HCMC Department of Science and Technology last week. HCMC’s spending on scientific and technological investments and research was over VND1.32 trillion in 2013, VND1.75 trillion in 2014 and an estimated VND1.34 trillion this year.
Times of India — NEW DELHI: “Call me John please,” John Chambers, 65, requested a journalist who addressed him as “Mr Chambers” at the press conference in New Delhi last week. Chambers is easily one of the most affable and engaging CEOs you will come across. At media meets, he makes it a point to go over to every single journalist in the room to introduce himself and hand over a visiting card.
With heat bearing down on their necks in China from local competitors Huawei and ZTE, Cisco has decided to invest more into their China operations. The U.S.-based company plans to invest over USD10 billion in China over the next few years to support local innovation with a series of strategic measures. Cisco made this promise during the China visit of its chairman and current CEO John Chambers and its soon-to-be CEO Chuck Robbins.