India relaxes FDI restrictions: India’s decision to ease foreign direct investment restrictions in several sectors got the thumbs up from Moody’s Investors Service today. “The announcement is credit positive because it demonstrates a continuation of reform momentum and paves the way for private investment and a boost in productivity,” it said, but warned (more…)wsj Read More»
A month after China’s top technology vendors took centre stage at the Consumer Electronics Show in Las Vegas, their road show rolled into Barcelona this week for the Mobile World Congress. Products unveiled at the world’s largest mobile trade fair that runs until tomorrow so far include: (more…)china Read More»
Initiatives like Digital India, Make in India and Smart Cities Mission offered American businesses the opportunity to sell high-tech products into the country, the US’s Exim Bank Chairman Fred P Hochberg claimed last week.”I want to emphasise the potential for cooperation in three government-led initiatives,” he told delegates at Global Trade Review’s (GTR) India Trade and Export Finance Conference during his keynote speech. “Digital India will present American businesses with an opportunity to sell their products into India’s new high-speed internet and digital infrastructure in India, while the Make in India initiative offers US high-tech companies the chance to sell equipment to Indian manufacturers harnessing the globally competitive resources of innovators right here in India.
“Several American companies are looking at opportunities in the renewable energy, transportation and construction sectors. We are working with a number of renewable energy companies in the US and they are looking to increase their business here,” he said, adding that India’s commitment to renewable energy, particularly solar, waas comprehensive and given the country’s scale, it has the potential to change the global energy game.
He pointed out that India planned to invest $142bn investment in its rail and aviation sectors, which presented huge opportunities for the US locomotive and aircraft manufacturers as well as engineering and construction firms as they bid build hundreds of new train stations and airports.
The Digital India initiative, which aims to ensure that Government services are made available to citizens electronically by improving online infrastructure and by increasing Internet connectivity was launched last July by Prime Minister Narendra Modi.
Indian smart city project: Indian Prime Minister Narendra Modi’s dream of creating 100 smart cities will require an investment of over $150bn over the next few years, with the private sector probably having to put up 80% of it, according to a new report from Deloitte’s.
Over the course of 2016, (more…)
After year’s of disinterest, Chinese investment in India looks set to rocket after its largest commercial real estate developer Wanda announced that it was planning to invest $10bn in the north Indian state of Haryana. SIAC Motor, itself the country’s largest car maker, looks ready to follow suit and is poised to buy GM’s facility in Gujarat, with around a further 100 small and medium Chinese enterprises having also pledged (more…)indiatimes Read More»
Russian ban on foreign IT: As from January 1, the Russian public sector has been statutory obliged to specify domestically produced software instead of foreign IT solutions wherever possible, although government departments, regional authorities and state-run enterprises can still buy programs from abroad if there is no domestic equivalent or if they can argue that the domestic software does not meet their needs. But while the new regulation could threaten the position of IT giants such as (more…)rbth Read More»
The Internet of Things – the network of physical objects embedded with electronics, software, sensors, and network connectivity that enables them to collect and exchange data – will help turn China’s ICT sector into a $6 trillion industry by 2025 and a major driver of the country’s economy, the US-based market research company IDC predicted this week. With annual growth (more…)
Russian software law: Foreign IT companies could start suspending their investments in Russia or withdraw from the country altogether over legislation requiring state agencies to justify the purchase of foreign software, the CEO of the Association of European Businesses (AEB) Dr Frank Schuaff warned this week. In a letter (more…)The Moscow Times Read More»
Russian OS: Russia wants to have created its own operating system to replace Microsoft and Apple within ten years time, according to a report in today’s Izvestia. The proposal was expected to be presented to the Kremlin today as part of an internet development programme put together by Russia’s Institute for Internet Development and is expected to be ready for use by all government agencies and “strategic enterprises” by between 2025-2030.
The proposal comes amid growing Russian belligerence and defiance at the West, with Igor Ashmanov, CEO of the internet marketing company that bears his name, suggesting that Russia should also be building its own hardware by then.“We need technological independence … from processors to applications,” he said. “The claims that we need to support competitiveness and an open market, and that therefore Western products should receive equal terms on our market, are stupidity and sabotage.”
Chinese technology firm Unisplendour Corp (UNIS) is in negotiations to buy a 15% stake in the US data-storage company Western (WD) for $3.8bn, it announced this week. UNIS is owned by the leading Chinese academic institution Tsinghua University through Tsinghua Holdings which sold a 20% stake of UNIS to Intel last year. UNIS is already in negotiations with Hewlett Packard over the acquisition of a 51% stake in its China-based H3C operation for a reported US$2.5bn.xinhuanet Read More»
Apple has entered into a partnership with the Moscow-based data center operator IXcellerate that will see the personal data of its Russian users being transferred to one of the Russian company’s data centres, according to unnamed sources quoted in the Kommersant newspaper today.
The deal means that Apple (more…)
Russia’s new Law on Personal Data, which comes into force today and which requires ISPs and social media sites to store the personal data of Russian citizens on Russian soil is expected to give a significant boost to the country’s data processing centre (DPC) market, experts are predicting. Demand (more…)rbth Read More»