18, Jul 2024
Asia Pacific IT, Business Services Market Boosted by Strong Demand for Managed Services, Q2 ISG Index Shows
July 18,2024,Sydney, Australia : Asia Pacific’s spending on IT and business services surged above US $5 billion for the first time in two years, led by a resurgence in managed services demand, according to the latest state-of-the-industry report from Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm.
The Asia Pacific ISG Index™, which measures commercial outsourcing contracts with annual contract value (ACV) of US $5 million or more, shows second-quarter ACV for the combined market (both cloud-based XaaS and managed services) rose 8 percent versus the prior year, to just over US $5.0 billion, the first time in seven quarters it eclipsed the US $5 billion mark and the third straight quarter the region delivered year-on-year growth.
Growth in the second quarter was powered by a resurgent market for managed services, which saw its ACV climb 32 percent over the prior year, to US $1.4 billion, the region’s best quarter in 12 years. Versus the first quarter of 2024, ACV was up 34 percent sequentially. Both the year-over-year and quarter-over-quarter comparisons came against strong US $1 billion-plus quarters.
During the quarter, 81 managed services contracts were awarded, up 37 percent year on year and 23 percent quarter over quarter. Deal volume was boosted by 44 percent growth in smaller deals valued between US $5 million and US $20 million per year. The value of restructured contracts, meanwhile, reached a record US $548 million of ACV, up 163 percent versus the prior year.
Demand for cloud-based services grew 1 percent, to US $3.6 billion, but ACV was down 8 percent sequentially against the first quarter of 2024. It was the third straight quarter XaaS has grown, averaging 18 percent year-on-year growth over that span, coming off a streak of five straight down quarters averaging 20 percent declines.
“Asia Pacific’s rising demand for traditional IT and business services reflects a continuing focus on cost optimization in a still uncertain economy,” said Michael Gale, partner and regional leader, ISG Asia Pacific. “Cloud-based services, which have been through a brutal downturn, are beginning to rise again, as enterprises focus on the data modernization that will enable GenAI adoption at scale.”
Within managed services, IT outsourcing (ITO) ACV rose 8 percent, to just over US $1 billion, driven by strong demand for bundled infrastructure and application development and maintenance (ADM) services and data center services. Business process outsourcing (BPO), meanwhile, surged 237 percent year on year, to US $367 million, led by triple-digit growth in customer engagement, facilities management, HR and engineering, research and development (ER&D) services.
From a geographic perspective, demand for managed services was up markedly in South Korea, China and Japan, the latter two markets producing their best quarters ever, up triple digits. The region’s two largest markets, Australia/New Zealand (ANZ) and India, meanwhile, moved in opposite directions, with ANZ down 30 percent in the quarter and India up 4 percent.
By industry, manufacturing, telecommunication and energy all moved to the upside, while banking, financial services and insurance (BFSI) and travel and transportation pulled back during the quarter.
Within the XaaS segment, infrastructure-as-a-service (IaaS) ACV was flat, at US $3.2 billion, while software-as-a-service (SaaS) ACV rose 8 percent, to US $430 million.
First-Half Results
Asia Pacific’s combined market ACV rose 19 percent versus the prior year, to US $9.9 billion, a dramatic turnaround from the first half of 2023, when the market was down 20 percent versus the same period in 2022, when Asia Pacific demand reached its zenith.
Managed services produced its best first half ever, with ACV of nearly US $2.5 billion, up 26 percent year on year. ITO ACV was up nearly 5 percent, to US $1.7 billion, while BPO ACV surged 126 percent, to US $773 million.
Among industries, managed services ACV in BFSI was up 43.5 percent year to date, with most other verticals up sizably in the half, with the exception of manufacturing, which pulled back 17 percent.
On the cloud side, XaaS ACV rose 17 percent, to US $7.5 billion. IaaS climbed 18 percent, to US $6.6 billion, and SaaS advanced 13 percent, to US $878 million.
2024 Global Forecast
For the full year, ISG is forecasting 2 percent revenue growth for managed services, down 100 basis points from its April forecast, and 14 percent revenue growth for XaaS, down from its 15 percent growth forecast in April.
“Uncertainty persists in the IT and business services market, with no clear catalyst at the moment to push discretionary spending higher,” said Steve Hall, president and chief AI officer of ISG, and global leader of the ISG Index. “Activity in the important BFSI sector remains dampened, due to the higher-for-longer interest rate environment, impacting the overall growth of the market. Enterprises in general continue to focus on cost optimization, and AI growth, while strong, is likely masking underlying weakness in the IT and business services industry.”
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- By Rabindra
18, Jul 2024
Xsolla Launches Instant Access to Their Core Solutions
July 18,2024,Los Angeles, United States : Xsolla, a global video game commerce company, announces the launch of Xsolla Instant Game Sales, Instant Launcher, and Instant Cloud Gaming following the release of Instant Web Shop in March 2024.
We have listened to developers express their primary challenges—resource allocation is crucial, yet many struggle to quickly go live with their games and offerings. In response, our streamlined approach facilitates seamless integration and provides developers of any size with instant tools to open new revenue streams for their games. Xsolla partners with game developers and studios of all sizes, offering a swift process to sign license agreements, integrate solutions, and generate revenue promptly, accelerating go-to-market time with direct-to-consumer solutions.
David Stelzer, President of Xsolla, comments: “Xsolla Instant Solutions suite enables developers to quickly and easily launch new monetization channels for their games, attract new paying audiences, and boost revenue by leveraging Xsolla’s comprehensive suite of solutions. We aim to help developers unlock new revenue opportunities while reducing time to market to one day, similar to what we did with the Instant Web Shop launch earlier this year.”
Instant Web Shop
Instant Web Shop enables game developers to swiftly set up a fully operational online store for their mobile games, seamlessly transforming a simple link into a revenue-generating platform. This solution increases awareness of the advantages of online purchases and facilitates an effortless shift to a robust LiveOps monetization system, enhancing user engagement and maximizing revenue streams. Instant Web Shop also helps game developers generate more value and purchases with personalization, limited-time offers, promotions, and deep linking.
Instant Game Sales
Instant Game Sales empowers developers to create store pages and initiate direct-to-consumer sales by importing content directly from Steam and Epic Game Store. This enables developers to integrate these offerings into their Game Sales page. It facilitates immediate game key sales during pre-orders and pre-launch phases, game releases, and seasonal promotions.
For more information about Xsolla Instant Game Sales or to sign up, visit: xsolla.pro/gs1
Instant Launcher
The Instant Launcher is receiving a significant update to enhance its content delivery system. Developers can import content directly from Steam and Epic Game Store to access a pre-designed launcher app with pre-created design, details, and assets to enable instant direct-to-consumer distribution of their games. Instant Launcher benefits games at any release stage, powering test flights during pre-launch, upcoming launch, and further game monetization. With Launcher, developers can easily directly engage with their audience while cross-promoting their games inside one gaming hub, decreasing the average cost per lead.
For more information about Xsolla Instant Launcher or to sign up, visit: xsolla.pro/launcher1
Instant Xsolla Cloud Gaming
Instant Cloud Gaming offers a self-serve solution for seamless game distribution by rapidly launching a branded cloud gaming platform in as little as 30 minutes to 24 hours. Xsolla Cloud Gaming enables developers to engage directly with their audience by offering pre-launch testing, sharing early versions of their games with the community, and providing the opportunity to demo the game directly from the landing page. Scaling game access to any device ensures quick access to new revenue streams and guarantees reaching more players globally.
18, Jul 2024
Indy Autonomous Challenge AI Racecar Presented by Bridgestone Sets Autonomous Hillclimb Record at the Goodwood Festival of Speed
July 18,2024, Goodwood, England : On a busy Sunday afternoon, in front of a global audience of motorsport enthusiasts, The Indy Autonomous Challenge’s (IAC) self-driving AV-24 racecar set the record for the fastest autonomous Hillclimb at the Festival of Speed. The AV-24 is piloted by an AI Driver developed by Team PoliMOVE-MSU (Politecnico di Milano and Michigan State University).
The AV-24 performed a series of three runs during the iconic festival. The record was broken during their third and final run up the Goodwood Hill where the racecar reached a top speed of 111.2 mph (179 kph)and a finish time of 66.37 secs. The record-setting run can be watched here. The previous record has been held by Roborace since 2019 when their “DevBot 2.0” autonomous car clocked a 66.96 sec time at a top speed of 101.16 mph (162.8 kph).
Goodwood is known for its unforgiving narrow course, lined with hay bells and limited run-off space. Attempting an autonomous hill climb at the Festival of Speed required absolute control of grip and slippage from the AV-24’s Bridgestone racing tires as well as precision mapping and localization in a GPS limited environment resulting in a higher than usual reliance on the AV-24’s Luminar Iris lidars.
The IAC and PoliMOVE-MSU teams worked closely with Bridgestone’s tire engineers to optimize performance ahead of the Hillclimb including traveling to Bridgestone’s European Technical Center and European Proving Grounds in Rome. The team also had the unique chance to explore each step of tire production and test how impactful tire performance is on track.
Paul Mitchell, Chairman and President of the IAC: “For three years, the IAC has been pushing the boundaries of high-speed autonomy and setting new records along the way. The Goodwood Hillclimb is a historic backdrop with huge crowds and a global audience that is now aware of the potential of self-driving vehicles to be safely deployed on roads in the future.”
Professor Sergio Savaresi, PoliMOVE-MSU Team Principal: “This challenge represents an important milestone for autonomous mobility. This weekend we overcame significant challenges posed by a complicated track and temperamental weather patterns. Thanks to the exceptional work and skills implemented by our engineering team and tire performance ensured by our Bridgestone racing tires, we made history by showing the public that safe and high-speed vehicular autonomy is possible even in adverse conditions. Our record at the Goodwood Festival of Speed will inspire confidence in future autonomous driving applications.”
Sara Correa, Chief Marketing Officer for Bridgestone in the Americas, Europe, Middle East and Africa (EMEA) added, “Bridgestone is proud to support the PoliMOVE-MSU team in this incredible achievement at the Goodwood Festival of Speed 2024. We are committed to partnering with the IAC and its inspiring student engineers to continue testing and improving autonomous technologies in record-setting runs like this and beyond. Motorsports are part of Bridgestone’s DNA, always have been and always will be. And what really matters is that we take the learnings from experiences like this and apply them to the sustainable mobility solutions we develop for society and our customers.”
18, Jul 2024
Bengaluru’s Water Crisis: Can the Tech Capital Fight Its Way Back? How Veolia’s Water Management Is Preparing for Crisis Situations
July 18,2024,Bangalore, Karnataka, India : With its range of technologies and expertise, Veolia Water Technologies & Solutions, South Asia helps municipalities and companies to better face the water challenge, through the protection and replenishment of resources. Since 2022, Veolia has been publishing the Barometer of Ecological Transformation every two years, in partnership with the Elabe consulting and research firm globally. Notably, the company has also developed the Water Impact Index (WIIX), a tool that enables companies and municipalities to make better informed choices. It assesses the effects of human activity on water resources and the stress on resources in terms of volume and quantity, thereby determining the water footprint of human activities.
Parched and submerged in sorrow, Bengaluru, India’s booming tech hub, fought its worst nightmare. Homes fell silent, businesses sputtered, and the city’s famed energy dimmed under the harsh reality of empty taps. This wasn’t a temporary blip – it was a major wake-up call. Freshwater accounts for only 2.5% of the world’s available water. With the rapid increase in the world’s population, accelerating urbanization and global warming, this resource is becoming scarcer. Today, access to drinking water is a major environmental, social and economic challenge for cities and industries.
This gives rise to a lot of questions in the minds of the inhabitants of the city- couldn’t the situation be avoided? Was it a classic saga of neglect? And most importantly what next?
Delving deeper into the matter, it is understood that the crisis stemmed from many factors. Bengaluru’s population exploded, surging 76% in a decade. But water infrastructure remained stagnant, a relic of a bygone era. The city’s once plentiful lakes – its lifeblood – have dwindled by 79%, choked by pollution and encroachment. The data paints a grim picture of Bengaluru’s water situation. The city guzzles a massive 2,832 million liters of fresh water daily. While the Cauvery River provides 1,460 million liters, it’s not enough. Residents rely heavily on groundwater, pulling out an alarming 1,372 million liters daily. This overuse is causing a water quality crisis. Bengaluru is facing erratic water supplies and the actual threat of running out of usable groundwater.
The water war wasn’t just about inconvenience. Residents battled for every drop, some forced to flee the city for their basic right to live. Tech giants, the lifeblood of Bengaluru’s economy, felt the pinch as water scarcity disrupted operations and threatened the city’s status as a tech magnet.
The city produces a whopping 1.48 billion liters of wastewater daily. Imagine that – enough to fill over 580 Olympic-size swimming pools! But here’s the catch: Bengaluru’s sewage treatment plants aren’t handling it all. This means millions of liters of potentially reusable water are going to waste. In 2004, Bengaluru built a fancy sewage treatment plant with cutting-edge technology. Great start, right? Unfortunately, that seems to be the only one. The city hasn’t embraced other modern solutions, leaving many wondering if there’s a real plan to fix the problem. Remember Bengaluru’s nickname, “City of Lakes”? Well, that’s becoming a distant memory. Pollution and development have swallowed up 79% of the city’s lakes. These natural water sources were once lifelines for Bengaluru, but now they’re a painful reminder of what’s been lost.
Treated wastewater can be reused for agricultural irrigation (which alone accounts for 32% of the global market), landscape irrigation (20%), industry (19%) and even groundwater recharge (2% of the global market) – source: GWI 2010. It can also be treated to drinking water standard in certain regions of the world. Find out how we are helping cities become more resilient.
“While other cities like Mumbai embrace advanced smart water technologies, lake rejuvenation, and MBR technologies, mobile plants to treat wastewater, why does Bengaluru, the heart of innovation and technology, lag in similar steps? The city has yet to implement comprehensive initiatives for lake cleaning and cultivation, and sewage water reuse,” says Mr. Girish Kale, Director, of Municipal Business at Veolia Water Technologies and Solutions (India) Pvt. Ltd.
Bengaluru needs a complete overhaul of its water management system. Here’s what the city can do:
Smarter Planning: Water conservation needs to be a priority in urban development.
Upgrade Time: The city’s water infrastructure is outdated. Modernization with a focus on efficiency and reuse is crucial.
Learning from Leaders: Cities like Mumbai have been using advanced water treatment technologies. Bengaluru should follow suit. Mumbai City is addressing water management via water treatment technologies in its industrial areas. To quote one such successful impact- roughly 30000 families in the Chembur area near the plant location in Mumbai have benefited from uninterrupted access to fresh water supply for domestic use as a direct impact of Veolia Water Technologies and Solutions (India) Pvt. Ltd. (Veolia WTS)’s advanced technology-enabled STP run at a leading chemical fertilizer factory.
“Some municipal initiatives have achieved excellent results. For instance, MCGM has successfully implemented advanced technologies like MBR technology for their ongoing projects in large STP and river rejuvenation and mobile treatment plants for lake projects provided by renowned water technology providers like Veolia Water Tech Zone. Experts agree that membrane technology offers the best results while using MBR-based STPs combined with other technologies like RO, UV, Ozone, etc. which can make the reclaimed water to nearly potable standards suitable for various uses in cities like Bengaluru,” says Mr. Kale. Further, he states that cities like Mumbai are turning to treated wastewater for industries, a smart way to stretch their water supplies. Singapore and Namibia are also water warriors, with impressive tech-driven systems that minimize leaks and ensure steady water flow.
Bengaluru’s got the brains, so why not use them to solve this water war? Here’s the plan:
Smart Meters, Big Wins: Imagine tiny gadgets whispering water usage secrets! The “Internet of Things” (IoT) can track leaks and usage, making water management a breeze.
Wastewater Wizards: Advanced treatment plants can transform icky wastewater into a valuable resource for watering parks or flushing toilets.
Mobile Marvels: Think power banks for lakes! Portable treatment units can clean ponds and lakes, freeing up precious freshwater for homes. From big industries to everyday citizens, everyone has a role to play!
Industry Gurus: Ditch the freshwater and use treated wastewater instead!
Government Guardians: Strengthen those lake protection laws and promote water-saving practices.
Water Warriors at Home: Support Lake restoration efforts and be a water-wise citizen!
The best bit is that the Indian Premier League (IPL) is already showing the way by using treated water at the stadium! Bengaluru has the potential to become an innovation oasis, not just for tech, but for water management too!
According to Mr. Sharad Tandon, CEO of Tandon Urban Solutions Pvt. Ltd., and an industry veteran with 25 years of experience in Mumbai, the MBR-based STPs are like an oasis in urban deserts for cities like Bengaluru. “The MBR-based STPs produce water that can be reclaimed and reused for other purposes. The technology exists to make it fit for human consumption also but we as a public must choose to be without water or condition our mind use even reclaimed water judiciously.”
Corporate responsibility also plays a pivotal role. Gleaming examples like the Hebbal Lake restoration undertaken by the Infosys Foundation prove the impact of corporate investment in water-saving initiatives. According to Mr. Gopal Madabhushi, Senior VP & Business Leader for South Asia at Veolia WTS, industries need to take the initiative to use sewage-treated water for their industrial purpose vis-a-vis utilizing fresh water from civic bodies. “Such an action will allow the re-purpose of the freshwater for drinking purposes. As such, many companies are in discussion with Veolia WTS to follow this approach. Government and regulators also need to consider providing incentives and other mechanisms to motivate the industries to follow this direction,” adds Mr. Madabhushi. One effective strategy is incentivizing industries that utilize STP water for their operations. From tax rebates to utility sops and subsidies, local and state governments could incentivize industries to take up such rejuvenation projects and switch to the use of treated water.
Bengaluru at Crossroads: Industry veteran Mr. Kiran Kumar with over 35 years in the global water treatment industry too reiterates the importance of adopting treated wastewater to ensure Bengaluru’s sustainable growth. Mr. Kumar suggests that Bengaluru could do well by avoiding crises like Cape Town’s ‘Day Zero’. As Bengaluru grapples with its water crisis, it faces a critical choice: take decisive action or suffer irreversible consequences. Strong steps are the need of the hour, like using 100% recycled sewage water for non-drinking purposes.
Breaking the Cycle: A Path Towards Water Security.
But there’s hope. Cities around the world are pioneering innovative solutions. Bengaluru can, too.
Wastewater Warriors: Turning Trash into Treasure
New-age technologies can treat wastewater, transforming it into a valuable resource.
Smart H2O Heroes: Data & Tech to the Rescue By embracing data analytics and smart water management systems, Bengaluru can identify leaks and optimize water use.
Lake Revival: Bringing Back Bengaluru’s Blue Jewels Restoring and reviving the city’s lakes can replenish water supplies and restore Bengaluru’s ecological balance.
The Time to Act is Now
Bengaluru has a choice: succumb to water scarcity or become a leader in sustainable water management. By embracing innovation and learning from successful examples, the city can craft a water-secure future. Bengaluru’s potential for problem-solving is undeniable. With strong leadership and decisive action, the tech capital can rewrite its water story – and emerge as a global model for water resilience.
18, Jul 2024
Technology Firm I Square Tek Sets Up India Offshore Development Centre for HPE Aruba Networking in Bengaluru
18th July 2024 Bengaluru, Karnataka, India Bengaluru-based technology firm I Square Tek opened the India Offshore Development Centre for Hewlett Packard Enterprise Aruba Networking in Bengaluru on Sunday.
The Offshore Development Centre (ODC) of I Square Tek will provide 24×7 support for global Enterprise customers. I Square Tek is an emerging leader in Networking, Cybersecurity, Application Support & Testing Practices and caters to several global and Indian MNCs.
With offices in Bengaluru, Hyderabad and the USA, I Square Tek caters to marquee clients such as Sony, HPE Aruba Networking, Mahindra Comviva, Lumen Technologies, etc. More than 270 engineers will be working in the cutting-edge ODC to begin with, and the Company is planning to add 300 more employees in the current financial year.
Mr Prathap Rajendra and Ms Arunone Theer Shal from HPE Aruba Networking inaugurated the new ODC facility. Speaking on the occasion, Mr Prathap said, “This is a special day. Congratulations to the I Square Tek fraternity on the new facility. This is just a beginning, we are going to grow together.”
Ms Shal said, “I Square Tek has been an incredible managed service provider for HPE Aruba Networking. I would like to thank I Square Tek team for its relentless efforts to turn things around.”
I Square Tek Managing Director Karan Reddy said, “The Offshore Development Centre in Bengaluru is an important part of our growth strategy. Cybersecurity & Networking is a critical industry in today’s world and we are glad that our customers continue to repose faith in us. We are fast emerging as the go-to player in cybersecurity and networking. We would like to be at the forefront of futuristic cyber security technologies and services in the years to come.”
18, Jul 2024
Ant International and NTU Singapore Collaborate on Privacy-Enhancing Technologies
July 18,2024,Singapore: To strengthen digital economic growth in the Asia Pacific region, Ant International and Nanyang Technological University, Singapore (NTU Singapore) have announced a collaboration over the next five years to conduct breakthrough research to advance digital trust leveraging both Ant International’s industry experience and NTU Singapore’s research expertise on Privacy Enhancing Technologies (PETs).
Senior Minister of State Tan Kiat How, Ministry of Digital Development and Information, witnessed the signing of the Master Research Collaboration Agreement (MRCA) between Ant International and NTU Singapore, represented by Mr Jerry Yin, Chief Technology Officer of Ant International and Professor Lam Khin Yong, Vice President (Industry) at NTU Singapore. The signing was carried out on 16 July at the Personal Data Protection (PDP) Week in Singapore.
Under the MRCA, Ant International will collaborate with NTU Singapore’s Digital Trust Centre to advance the development of PETs in Singapore and the region. These technologies aim to help businesses unlock greater value from their data and create more use cases. Additionally, the development of PETs for Artificial Intelligence (AI) will enhance digital trust and make AI more reliable. This will be achieved by minimising the risk of data leaks, allowing businesses to share data and gain valuable insights without disclosing confidential information.
Ant International will commit to contribute up to S$20 million over the next five years to support research on PETs.
Under this MRCA, Ant International will contribute a total funding amount of S$5 million for the five-year partnership until July 2029. In addition to providing research funding for the MRCA, Ant International also intends to contribute a further S$15 million to strengthen Ant International’s research capacity and subject matter expertise, to enhance the country’s overall research and development and drive responsible innovation in Asia by leveraging PETs.
During the collaboration, which will be based in NTU Singapore, researchers will have access to real-life use cases from Ant International for their projects, which will focus on advancing industry tools and processes for machine learning and secure insights sharing between businesses. This will be achieved through the use of advanced privacy enhancing technologies such as zero-knowledge proofs1 and federated learning2. As researchers deepen their expertise in PETs through their projects, the aim is also to develop a team of specialised talents.
Ant International and NTU will also study topics related to large language models3 (LLMs) that preserve user privacy while training or querying LLMs. Both parties will present their findings at leading conferences focused on AI safety.
A joint research committee will also be established to oversee projects conducted under the agreement. Dr.Duan Pu, Ant International’s Head of Data Algorithm and Technology Department, and Professor Lam Kwok Yan, Executive Director of the Digital Trust Centre at NTU Singapore, will serve as Co-Chairs of the committee.
The MRCA builds on an existing collaboration on privacy-preserving computing between NTU Singapore and Ant Group, which saw the development of a new state-of-the-art Private Set Intersection (PSI) protocol that allows businesses to carry out joint database analysis while maintaining the privacy of their respective data.
Mr Tan Kiat How, Senior Minister of State, Ministry of Digital Development and Information, said: “Robust data protection is important for Singapore’s digital economy. The Ministry of Digital Development and Information has taken steps to strengthen our data ecosystem, including by encouraging the use of privacy-enhancing technologies (PETs). I am glad to see companies collaborating with our Institutes of Higher Learning to develop PETs and nurture data protection talent. Such partnerships help us advance the development and adoption of data protection tools in Singapore and the region.”
Mr Jerry Yin, Chief Technology Officer of Ant International, said: “Ant International is pleased to expand our collaboration with NTU, through this longer-term partnership. As a global digital payment and financial technology provider, data privacy is a core part of our business as we aim to provide merchants with secure, reliable and seamless solutions. By leveraging NTU’s academic expertise and Ant International’s industry experience, we look forward to advancing the development of privacy-enhancing technologies with new innovations that address real business needs.”
Professor Lam Khin Yong, Vice President (Industry) of NTU Singapore, said: “Through its Digital Trust Centre, NTU Singapore has built upon and fostered expertise and talent in Trust Technologies. The collaboration between NTU Singapore and Ant International, a leader in global digital payments and fintech, underscores NTU’s commitment to translating research innovation in the area of Privacy Enhancing Technologies into practical applications. Together, both parties will aim to pioneer innovative solutions that strengthen digital trust and security, empowering businesses to responsibly leverage data for transformative outcomes.”
Organised by Singapore’s Personal Data Protection Commission (PDPC), PDP Week convenes regional regulators/policymakers, industry leaders and international think-tanks to connect and collaborate on data use and technologies, including privacy enhancing technologies (PETs). For more information on PDP Week, please visit https://www.pdpc.gov.sg/pdpweek2024.
18, Jul 2024
Malaysia Madani Carnival 2024: A Resounding Success in New Delhi
18th July 2024 New Delhi, Delhi, India The High Commission of Malaysia in India, is pleased to announce the successful conclusion of the Malaysia Madani Carnival 2024, held on April 27, 2024, at the High Commission of Malaysia in New Delhi. The carnival, which showcased the vibrant culture and rich heritage of Malaysia, was attended by a diverse audience of culture enthusiasts, food lovers, and families, creating an atmosphere of celebration and camaraderie.
Dato’ Muzafar Shah Mustafa, High Commissioner of Malaysia in India, expressed his gratitude for the overwhelming response to the Malaysia Madani Carnival 2024, stating, “We are thrilled by the tremendous turnout and positive feedback received for the Malaysia Madani Carnival 2024. This event served as a platform to strengthen cultural ties between Malaysia and India, fostering greater understanding and appreciation of our shared heritage.”
The carnival featured an array of cultural performances, including traditional dances, music, and arts demonstrations, captivating the audience with the beauty and diversity of Malaysian culture. Attendees had the opportunity to immerse themselves in the traditional art of Batik Canting, participate in interactive cooking demonstrations, and enjoy a variety of fun and games that added to the festive atmosphere.
Muhammad Akmal Hafiz Abdul Aziz, Acting Director of Tourism Malaysia – New Delhi, expressed his satisfaction with the event’s success, stating, “The Malaysia Madani Carnival 2024 showcased the best of Malaysian culture, cuisine, and hospitality, offering attendees a memorable experience that highlighted the warmth and vibrancy of Malaysia. We are delighted to have provided a platform for cultural exchange and exploration, inviting attendees to discover the beauty and diversity of Malaysia right here in New Delhi.”
One of the highlights of the carnival was the tantalizing array of authentic Malaysian cuisine offered at the food stalls, featuring a delectable selection of dishes and tropical fruits sourced directly from Malaysia. Attendees savored the flavors of Malaysia, indulging in savory delights and sweet treats that delighted their taste buds.
The Malaysia Madani Carnival 2024 also featured raffles with exciting prizes, including flight tickets, hotel vouchers, and other exclusive rewards, adding an element of excitement and anticipation to the festivities.
The High Commission of Malaysia in India and Tourism Malaysia – New Delhi extend their heartfelt thanks to all attendees, sponsors, partners, and volunteers who contributed to the success of the Malaysia Madani Carnival 2024. The event would not have been possible without their support and enthusiasm.
18, Jul 2024
StockGro and The Economic Times Announce Strategic Partnership to Empower Indian Investors
18th July 2024 Mumbai, Maharashtra, India In a significant development in the financial education landscape, StockGro, India’s leading social investment platform, has partnered with The Economic Times to leverage The Economic Times’ ET Market’s extensive knowledge base in equity markets. This collaboration marks a monumental step towards expanding StockGro’s mission to democratize financial education and empower Indians to achieve financial freedom with partnerships with leader platforms for equity market news and knowledge. With this partnership, StockGro aims to reach a wider audience and create tailored content to educate investors, beginners and the seasoned alike.
Did you know that 72% of Indians lack the essential financial knowledge required for effective investing? With India poised to become a global economic powerhouse, the need for comprehensive financial education is more critical than ever. The country’s economy is expected to grow to a staggering $5 trillion by 2025, presenting a vast opportunity for wealth creation. This growth underscores the importance of addressing the financial literacy gap among new investors.
StockGro, in partnership with ETMarkets by The Economic Times, is set to change the narrative by providing tailored content aimed at educating investors at every level. This strategic initiative not only aims to reach a broader audience but also to enrich the quality of financial discourse and learning.
“Between April and November 2021, there was a remarkable increase of 28.6 million new accounts with CDSL and NSDL, reflecting a surge in investing interest among Indians,” said Ajay Lakhotia, Founder of StockGro. “Yet, it is alarming that over 75% of Indian adults still lack basic financial literacy, with women experiencing an even larger gap. This partnership will help bridge this knowledge divide and foster a financially literate community.”
StockGro offers a unique platform combining social networking with investment education, allowing users to learn trading and investing skills across various asset classes in a risk-free simulated environment. The strategic alliance with The Economic Times will enhance this experience by integrating real-time, high-quality market updates from ET Markets, one of the most reliable financial news sources.
18, Jul 2024
Axelspace Announces New Service AxelLiner Laboratory
July 18,2024, TOKYO, Japan : Axelspace Corporation announced the launch of AxelLiner Laboratory (AL Lab), a new service under AxelLiner introduced in 2022. This service specializes in in-orbit demonstration of space components with sales set to begin in the near future.
Additionally, a new memorandum was signed between Axelspace and ASPINA Shinano Kenshi Co., Ltd., a partner in developing a reaction wheel for microsatellites since 2020. The companies have agreed to launch the wheel in 2026 and conduct an in-orbit demonstration, making it the first to utilize AL Lab.
Meeting the growing need for in-orbit demonstration
Introducing AxelLiner in 2022, Axelspace has been preparing for its full-scale service launch. This preparation included developing a versatile bus system for microsatellites, forming the Spacecraft Manufacturing Alliance for mass production, and building AxelLiner Terminal, a software system offering innovative customer experiences.
Since its business launch, there have been high expectations for this one-stop microsatellite service that enables customers to actualize their unique space missions in a shorter period of time, reaffirming the strong need for this business.
Furthermore, through communications with various space industry players, strong interest has been received from companies that develop space components and mission equipment as well. To further expand this customer base, Axelspace began research into creating a new service for AxelLiner that specializes in in-orbit demonstrations.
The Japanese government plans to create the Space Strategic Fund this year, aiming to offer 1 trillion yen worth of support in the coming decade. One of the themes the fund intends to implement is the establishment of a satellite supply chain through development and demonstration of satellite parts and components. Consequently, the demand for early-phase in-orbit demonstration services is expected to increase in the future.
To overcome these existing challenges involved in in-orbit demonstrations, Axelspace has developed a service tailored to such special needs by leveraging the short development time and mass-production capabilities realized by AxelLiner.
AL Lab can be used not only to test components and mission equipment in space, but also for purposes of entertainment, or corporate or product promotions.
The original service concept will be redefined as “AxelLiner Professional (AL Pro),” with preparations continuing for its full-scale launch.
18, Jul 2024
Malaysia Airlines and Tourism Malaysia Collaborate to Organise an Exciting Event at Nexus Mall, Amrits
18th July 2024 Amritsar, Punjab, India Malaysia Airlines, in collaboration with Tourism Malaysia, is thrilled to announce an exciting event at the Nexus Mall in Amritsar on April 27th-28th, 2024. The two-day extravaganza promises an array of engaging activities aimed at showcasing the vibrant culture, warm hospitality, and diverse connectivity options offered by Malaysia Airlines.
Consumers can expect an exciting lineup of activities, including thrilling games, special appearances by popular radio jockeys, interactive games, and quizzes. Engaging emcee activities will keep the energy levels high, while captivating dance performances will provide an extra spark of entertainment throughout the day.
With the launch of the three new India routes – Amritsar, Ahmedabad, and Trivandrum, Malaysia Airlines has achieved resounding success, prompting the airline to double its frequencies from Amritsar and Trivandrum. To further encourage travel from these new routes, Malaysia Airlines and Malaysia Tourism Board have collaborated to organise a series of trade events, roadshows, and mall activations, and implement online as well as offline marketing initiatives.
Dersenish Aresandiran, Chief Commercial Officer of Airlines (CCO) from Malaysia Aviation Group, commented, “As Malaysia Airlines continues to expand its reach and enhance connectivity, we are thrilled to offer Indian travellers greater accessibility to Malaysia and beyond. Through our collaboration with Tourism Malaysia, we aim to create unforgettable experiences and inspire travellers to explore the beauty and diversity of our destinations. With attractive fares and enticing initiatives, we look forward to welcoming more passengers on board to experience the warmth and hospitality that Malaysia Airlines is renowned for.”
“We are delighted to partner with Malaysia Airlines in bringing this exciting event to Nexus Mall, Amritsar. This collaboration underscores our commitment to showcasing Malaysia’s rich culture, hospitality, and diverse travel options to our Indian visitors. As we join hands with Malaysia Airlines, we aim to provide unforgettable experiences and inspire more travellers to explore the wonders of Malaysia. Through exclusive deals and initiatives, we are dedicated to empowering Indian customers and fostering a deeper connection between our two nations. We invite everyone to join us at Nexus Mall and embark on a journey of discovery with Malaysia Airlines and Tourism Malaysia,” said Muhammad Akmal Hafiz Abdul Aziz, Acting Director, Tourism Malaysia, New Delhi.
