IUSB Preface —Nadella said: “We believe that low-priced broadband connectivity coupled with the scale of cloud computing intelligence that can be harnessed from data can help drive creativity, efficiency and productivity across governments and businesses of all sizes”. Google is also taking a similar step by providing free Wi-Fi at about 500 railway stations in India.
Tech In Asia — Japanese telco SoftBank just made a big bet on the booming financial tech (fintech) industry. SoftBank yesterday announced a US$1 billion round of funding for San Francisco-based SoFi, an online service that allows America’s debt-laden students to refinance their federal or private student loans.
Tech In Asia — China’s prestigious Tsinghua University is investing a whopping US$3.8 billion into hard-drive maker Western Digital, reports Bloomberg. It’s China’s biggest ever tech investment in the US. It tops the US$1.75 billion that Lenovo paid for IBM’s PC division in 2005, as well as last year’s acquisition of IBM’s server business by Lenovo for US$2.3 billion.
Deal Street Asia — Infosys Ltd has partnered with Palo Alto-based venture capital firm Vertex Ventures US Fund I Lp to boost its access to start-ups focused on disruptive technologies. The move by Infosys Innovation Fund, which has an outlay of $500 million, puts India’s second-largest software services exporter in the league of technology titans such as Google Inc. that (through their corporate venture arms) have partnered with VC firms across the globe to find the next big thing.
Alibaba’s UC Browser announced during the Global Mobile Internet Conference Jakarta that they will establish their Southeast Asia headquarters in Indonesia’s capital Jakarta. With the new headquarters, UC Browser plans to further enhance their investment and distribution in Southeast Asia.
Business Wire — SINGAPORE: Accenture has opened an Internet of Things Centre of Excellence for Resources in Singapore to help companies transform their businesses through a combination of deep industry experience and innovative technologies. Supported by the Singapore Economic Development Board, the centre will house an innovation hub for Rio Tinto, which will be the centre’s foundation client.
Times of India — NEW DELHI: The government will provide mobile connectivity to 55,669 uncovered villages across the country by 2018. According to a communications ministry official as part of the Digital India programme, 55,669 villages that do not have mobile coverage till now will be connected during 2014-18. The official added that mobile services to uncovered villages will be provided in a phased manner with funding from universal service obligation fund (USOF).
ZDNet — The South Korean government will invest in $350 million in some 300 companies it thinks can compete globally in the next four years, to develop an IoT ecosystem with inter-linked “smart devices”. Officials from two key government ministries, the Ministry of Science, ICT and Future Planning; and Ministry of Trade, Industry and Energy, revealed the South Korean investment plan during an IT conference in Seoul on Tuesday.
The Register — Cisco has revealed the first concrete outcome of its new China strategy, inking a deal with the server maker best known for helping build the Tianhe-2 supercomputer. The Borg has long complained that China has been getting in the way of growth. Most recently, the company sent the broom through its executive suites before announcing a US$10 billion plan to revitalise the region.
IT News — The cost of replacing an inadequate workforce management system contributed to a blowout in NBN’s IT capital expenditure budget, the network builder has revealed. During a recent senate hearing, NBN networks boss JB Rousselot said the company’s IT capex had increased from $900 million to $1.6 billion in the three years prior to the December 2013 revised strategic review.
Manila Times — The Philippines is set to see major development as a hub for analytics — the method of finding meaningful patterns in data – as IBM pioneers an ecosystem in the country for producing analytics professionals to service the industry’s booming global demand. The New York-based multinational technology and consulting corporation is bullish about its investment prospects in the Philippines, emboldened by the country’s brisk economy and its rich, young pool of English-speaking IT talents.
Deal Street Asia — The trend of startups raising seed capital to fund their expansion is faring quite strong in India. Tech startup Briston Technomach has raised seed funding from an undisclosed investor, while demand aggregator for diagnostic labs LabStreet has raised $150,000 from multiple investors including Chandigarh-based Click Labs.
ZDNet — Intel Capital, the chip giant’s global investment arm, has injected $67 million into eight Chinese technology companies. The companies include 99cloud, Bluebank, Hampoo, Ninebot, Nuovo Film, PraFly, and AWcloud, which cover a range of industries including smart devices, robotics, Internet of Things (IoT), cloud, big data, and data analytics. Intel Capital also signed an investment agreement with semiconductor design firm, Telink.
Channel News Asia — BEIJING: Chinese Internet company Tencent Holdings has said that it will invest more than US$1.5 billion over the next five years in its cloud-computing business. This will include construction and operation of data centres in China, Hong Kong and North America, and also to recruit new talent and promote cloud services through marketing campaigns.
China Tech News — Legend Holdings announced a USD58.5 million strategic investment in Social Touch, a corporate mobile social marketing solutions provider in China. Social Touch, which was formerly known as ShiquTech, was established in 2011. As a social management system, service and data solutions provider, the company mainly focuses on providing Social CRM solutions to enterprises.
Business Wire — YOKOHAMA: Macnica, Inc. (President and CEO, Kiyoshi Nakashima, with its corporate headquarters in Yokohama, Japan) announced the establishment of a venture capital initiative called Macnica Ventures. Macnica Ventures plans to seek strategic investments in ventures with unique business models and promising technologies. Macnica will collaborate and support these ventures to create new markets and businesses.
Times of India — BENGALURU: Karnataka government has cleared three major IT projects planned by Infosys to set up more campuses in the city at an investment of Rs 1,918 crore that would generate 27,000 jobs. “The IT major Infosys is going to invest $290 million (Rs 1,918 crore) on three campuses. One will be built at Electronic City and other two at Konappana Agrahara of Bengaluru South taluk,” chief minister Siddaramaiah said in a statement.
Digital News Asia — THE Hub Singapore has officially moved into its new premises at 128 Prinsep Street, saying that it would also be introducing “tailored innovation and impact lab” programmes for corporations looking to innovate through collaborations with startups and entrepreneurs. Companies currently involved in the programme include JP Morgan, DBS Bank and Procter & Gamble, The Hub said in a statement.
Focus Taiwan — Taipei, Aug. 26 (CNA) Inventec Corp. (英業達), a major Taiwanese supplier of Chinese phone brand Xiaomi Inc., is thinking of setting up an intelligent manufacturing plant in Indonesia or the Philippines next year as part of its global expansion. The new facility would initially manufacture smartphones and PC-related products such as all-in-one computers, commercial tablets and mini-desktop computers based on customer demand, Inventec Chairman Richard Lee (李詩欽) said during a break at an event marking a cloud partnership between Microsoft Corp. and Chunghwa Telecom Co. (中華電信).
Over the past couple of decades we have seen how modern submarine cable systems help global economies flourish by providing global connectivity through fiber optic cables traversing all continents. Globally, undersea cables contribute around 99 percent of total international broadband connectivity.