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Current Affairs on Companies

Current affairs on 08 February 2017

Rs 3,308 cr project announced in BioAsia
  1. BioAsia,Asia’s largest biotechnology and life-sciences forum signed projects worth Rs 3308 cr
  2. The Telangana government signed a MoU with Cerestra to explore Life Sciences Infrastructure Fund to the tune of Rs 1000 cr,projects entailing an investment of Rs 1680 cr were launched

Current affairs on 07 February 2017

Tata Motors launched new sub brand named TAMO
  1. TAMO new sub-brand was launched by Tata Motors on 2 February 2017 with the primary objective of regaining the lost ground in passenger vehicles segment.
  2. Vehicles from TAMO will be in niche segment with technologies that are ahead of market and when proven successful they could be transferred to vehicles of the main Tata Motors brand.
Posted on: 07th February 2017 Read complete Article →
FS Italiane Group entered into agreement with Indian railways
  1. Indian Railways on 2 February 2017 inked a pact with the FS Italiane Group of the Italian Railways. 
  2. The company will provide all the technology developed with large-scale infrastructure and technological projects that have modernised Italy by connecting the country’s most important cities, Rome and Milan, in just three hours.
  3. The FS Italiane Group is a major international engineering, infrastructure and transport player and operates in more than 60 countries in over five continents.
Startup acquires Google's satellite imaging business
  1. American startup Planet Labs, that launches small satellites into orbit and sells the imagery, has announced its acquisition of Google's 'Terra Bella' satellite business.
  2. As part of the agreement, 60 Google employees will join the startup founded by ex-NASA scientists. Terra Bella, formerly Skybox, was acquired by Google in 2014 for $500 million.

Current affairs on 02 February 2017

Facebook's Oculus ordered pay USD500 mn in suit on stolen technology
  1. A US jury has ordered Facebook and creators of its Oculus Rift to pay USD 500 million to gaming software firm ZeniMax in a lawsuit that claimed the virtual reality technology was stolen. 
  2. Oculus was accused of basing its Rift headset on technology stolen from ZeniMax's virtual reality software as the lawsuit claimed Oculus founder Palmer Luckey and his colleagues developed the virtual reality gear using source code illegally obtained from the gaming firm. 
  3. Luckey was ordered to pay USD 50 million of the award and another former Oculus executive, Brendan Iribe USD 150 million. The two executives were accused of violating a non-disclosure agreement with ZeniMax and copying the source code and other documents on a USB storage device. 
  4. ZeniMax had sought USD 4 billion in damages in the case, in which Facebook chief Mark Zuckerberg testified to defend his company. 
Posted on: 02nd February 2017 Read complete Article →

Current affairs on 31 January 2017

Alibaba’s financial arm acquires MoneyGram
  1. Ant Financial, e-commerce giant Alibaba’s financial arm, has reached an agreement to acquire American money-transfer major MoneyGram for $880 million, in a deal that will expand the firm’s business in the US after India and Thailand.
  2. The transaction will connect MoneyGram’s money transfer network of 2.4 billion bank and mobile accounts and 350,000 physical locations with Ant Financial’s users. 
Posted on: 31st January 2017 Read complete Article →

Current affairs on 27 January 2017

T-Hub launches ‘GIS Innovation Hub’ powered by Esri India

  1. T-Hub, the start-up engine catalysing innovation, announced the launch of ‘GIS Innovation Hub’ (GIH) for start-ups. 
  2. he GIH is powered by Esri India, the Geographic Information System (GIS) software and solutions provider.The facility was inaugurated by Jack Dangermond, Co-founder, President and CEO of Esri Inc.
Posted on: 27th January 2017 Read complete Article →
CCI Approves Merging MakeMyTrip with ibibo Group
  1. The Competition Commission of India (CCI) approved the proposed merger of online travel firm MakeMyTrip’s Indian travel business with rival Ibibo Group. 
  2. The closing of the transaction is expected to be around January 31, 2017.
Uber To Bring Food Delivery App ‘UberEATS’ In India
  1. Transportation app Uber will soon launch its on-demand food delivery app ‘UberEATS’ in the Indian market, which is currently available in 58 cities globally,
  2. Service already working in  Bangkok, Singapore, Tokyo, Hong Kong and Taipei.The new app will give consumers, restaurant partners, and delivery partners more options across India.
Swiss Re gets IRDAI approval
  1. Swiss Re is among the first five foreign companies to obtain a licence to sell reinsurance in India and will begin it's operation in Inda from 1st Feb 2017.
  2. Swiss Re will be able to operate in India and offer both non-life and life and health reinsurance solutions directly to clients and brokers in the country.
Posted on: 27th January 2017 Read complete Article →
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