Digital payments giant PayPal Holdings named Alex Chriss, a top executive at tax-preparation software firm Intuit, its next CEO as it looks to grab a bigger share of the payments market for small businesses.
Chriss will take over for PayPal's longtime CEO Dan Schulman in September. Schulman had previously announced a plan to step down from the role by the end of the year. He will remain a director at the company until May 2024.
Infosys Announces $1.6 Billion Deal with Telecom Firm Liberty Global
Indian IT services company Infosys won a $1.6 billion deal from Liberty Global to build and scale the entertainment and connectivity platforms of the digital communications firm.
As per the current agreement between both parties, the initial tenure of the contract is five years. It can also be extended to eight years, which would take the deal value to $2.5 billion.
The IT services company added that this deal will allow Liberty Global to realise run-rate savings in excess of €100 million per annum inclusive of other savings and technology investments.
Moreover, Liberty Global would licence all the platforms that are built under the deal to Infosys. This means the IT company can offer similar services to new operators and new markets.
Hyundai Motor's Unit to Buy General Motors' India Talegaon Plant in Maharashtra
Hyundai Motor Co's Indian unit will buy automaker General Motors' Talegaon plant in the state of Maharashtra, a move that will allow the U.S. automaker to exit the country as well increase Hyundai's annual production.
Through its Sriperumbudur facility outside Chennai city and now the Talegaon plant, Hyundai aims to increase its cumulative production capacity to one million units per year. The company had a production capacity of 820,000 units in the first half of this year.
The South Korean firm said it intends to upgrade the existing infrastructure at the Talegaon unit and start manufacturing in 2025. The plant currently has an annual production capacity of 130,000 units.
Wipro and IIT Delhi Launch Centre of Excellence for AI Innovation
Wipro, the technology services and consulting company, unveiled a centre of excellence (CoE) on generative artificial intelligence (AI). The centre is established in partnership with the Indian Institute of Technology (IIT) Delhi. Its primary mission is to facilitate both foundational and applied research in the field of generative AI. The centre will also play a pivotal role in nurturing talent and pushing the boundaries of excellence in this domain.
The partnership is part of Wipro's $1 billion commitment to accelerating AI-led innovation as part of the Wipro ai360 ecosystem and drive innovation in emerging technologies.
Subha Tatavarti, the chief technology officer at Wipro, stated, "This collaboration will not only enhance our research & development capabilities in emerging areas, such as generative AI, but will also connect us with a talent pool that will help us build advanced solutions to address existing and emerging business problems."
Neymar Quits PSG to Sign for Saudi Arabia's Al-Hilal
Brazil forward Neymar signed for Saudi Arabia's Al-Hilal from Paris Saint-Germain (PSG), the clubs announced, joining Cristiano Ronaldo and Karim Benzema. Neymar scored 118 goals in 173 matches for PSG in six injury-plagued seasons. He won five Ligue 1 titles and three French Cups, but was on the losing side as PSG were beaten by Bayern Munich in the 2020 Champions League final.
Neymar joined PSG from Barcelona in 2017 for a world record fee of 222 million euros ($242 million), a few weeks before they recruited Kylian Mbappe.
Al Hilal Saudi Club, simply known as Al Hilal, is a professional multi-sports club based in Riyadh, Saudi Arabia. Their football team competes in the Saudi Professional League. They are the most decorated club in Asia winning 66 official trophies. They also hold the record for the most continental trophies in Asia, as well as a record 18 Professional League titles.
Al Hilal was founded on October 16, 1957, by a group of young men who wanted to create a football club that would represent the city of Riyadh. The club's first president was Mohammed Al-Helwa, and the first captain was Mohammed Al-Amri.
Junior World Wrestling Championship: Mohit is the Newest Indian U20 World Champion Wrestler
Mohit Kumar became the first Indian wrestler to win junior world champion since 2019 after edging past Russia's Eldar Akhmaduninov in the 61kg final, while Priya lined herself up to be country's only second woman grappler to grab the title.
Women's World Cup: England Set up Final with Spain
England reached their first Women's World Cup final after beating Australia 3-1.
After falling at the semi-final stage in the previous two World Cups, England will face Spain looking to add a world title to last year's European Championship triumph.
Fourth and Final G20 Digital Economy Working Group Meeting Held in Bengaluru
The fourth and final G20 Digital Economy Working Group meeting held in Bengaluru under the India Presidency dwelt deep into priority areas of Digital Public Infrastructure, Security in the Digital Economy, and Digital skilling. Being the fourth and final meeting of the Working Group, it gave the final shape to the G20 Digital Economy Ministerial Declaration. Over 100 foreign delegates from G20 member countries, nine invited countries and five International Organisations including World Bank, UNESCO and UNDP attended the meeting.
Ex-Gujarat CM Suresh Mehta Launches Non-political Platform to Spread Awareness among Voters
Former Gujarat Chief Minister Suresh Mehta launched a non-political platform as an attempt to present an alternative narrative and spread awareness among voters about different issues.
As part of the initiative, named as 'Jan Abhiyan - Badle Gujarat', a research and training institute will also be opened to train elected representatives on various aspects related to their roles, responsibilities and powers.
Mehta was the CM of Gujarat between 1995 -1996.
Cabinet Approves Extending Digital India Programme
The Union Cabinet approved extension of the Digital India programme with an outlay of Rs. 14,903 crore to boost digital initiatives in skilling, cyber security, high performance computing and simplifying technology for masses, among other areas.
Union Minister Ashwini Vaishnaw said that the outlay was approved for a five-year period between 2021-22 to 2025-26.
The extended Digital India programme will add on to the work done under the previous version of the scheme.
Under the extended programme, nine more supercomputers will be added under the National Supercomputing Mission (NCM).
Under the approved programme, 6.25 lakh IT professionals will be reskilled and upskilled, and 2.65 lakh persons will be trained in information security under the Information Security and Education Awareness Phase (ISEA) Programme.
India's First Drones Testing Centre to be Set up in Tamil Nadu
The country's first Common Testing Centre for Unmanned Aerial Systems (drones) would be established in Tamil Nadu at an outlay of Rs. 45 crore.
Tamil Nadu Industrial Development Corporation (TIDCO) is the nodal agency for the implementation of the TN Defence Industrial Corridor, and one of the strategies of the corridor is to provide an ecosystem for the aerospace and defence industry.
The non-availability of a Common Testing Centre is an 'entry barrier' for organisations engaged in the aerospace and defence industry, and TIDCO has planned to set up such test centres under the Centre's Defence Testing Infrastructure Scheme in Tamil Nadu.
For setting up such a Common Testing Centre, TIDCO has floated a Request for Proposal (RFP) for identifying industrial partners.
The proposed facility would come up at the State Industries Promotion Corporation of Tamil Nadu (SIPCOT) Industrial Park, Vallam Vadagal, near Sriperumbudur.
Former Defence Research Body Chief V. S. Arunachalam Passes Away
V. S. Arunachalam, a former DRDO Director General, passes away in the US. He was 87.
His distinguished career spanned across Bhabha Atomic Research Centre (BARC), National Aeronautical Laboratory, and Defence Metallurgical Research Laboratory.
Arunachalam helmed the Defence Research and Development Organisation (DRDO) and was the Scientific Advisor to the Defence Minister from 1982-92.
He was conferred the Shanti Swarup Bhatnagar Award (1980), Padma Bhushan (1985), and Padma Vibhushan (1990) for his contribution to engineering science and technology.
In 2015, Arunachalam was awarded DRDO's Lifetime Achievement Award for his outstanding contribution to the field of scientific research and technology.
In addition to being the first Indian Fellow of the Royal Academy of Engineering (UK), Arunachalam served as a member of the advisory and editorial boards of several universities and foundations, including the Materials Research Society Bulletin.
Indonesia, the world's fourth most populous country, celebrates its Independence Day every year on August 17. The country announced its independence on August 17, 1945, at the tail end of the Japanese occupation and then fought for four years against the Dutch before their independence was recognized by their former colonial lord.
The Indonesian independence movement officially began in May 1908, commemorated as the "Day of National Awakening". The early 1910s and 1920s saw the establishment of several political parties like the Indonesian National Party (PNI), Sarekat Islam and the Indonesian Communist Party (PKI) and movements that supported Indonesian independence like Budi Utomo. Though many nationalists at first opted for cooperation with the Dutch to gain limited self-rule through the Volksraad ('People's Council'), the Japanese occupation of the East Indies as it was called brought a stop to that.
On August 17, Indonesian political leaders Sukarno and Mohammad Hatta declared the independence of Indonesia.
Kerala to Integrate POCSO Act, Scientific Waste Management Lessons in School Curriculum
To shed light on the importance of cleanliness and child protection laws, the Kerala government announced that lessons on scientific waste management and the Protection of Children against Sexual Offences (POCSO) Act will be part of the school syllabus from the next academic year.
Announced by State General Education Minister V. Sivankutty, this initiative aims to instil knowledge of sustainable waste management and awareness about the POCSO Act to foster a more informed future generation.
The G20 Film Festival began in New Delhi. India's G20 Sherpa Amitabh Kant inaugurated the festival. Satyajit Ray's Pather Panchali was the opening film. The festival aims to celebrate and showcase a vibrant and collaborative partnership existing amongst the G20 and invited countries in the field of cinema. The festival is organised by the India International Centre (IIC) and the G20 Secretariat of the Ministry of External Affairs. The event will continue till the 2nd of September.
Supreme Court Collegium Recommends Transfer of Justice Rajnish Bhatnagar to Rajasthan High Court
The Supreme Court Collegium recommended the transfer Delhi High Court judge Justice Rajnish Bhatnagar to the Rajasthan High Court.
The Collegium said that Justice Bhatnagar requested for his retention in Delhi but the same was turned down.
The recommendation was made after consulting the Chief Justices of both the High Courts as well judges of the Supreme Court conversant with the affairs of the Delhi High Court.
Chhattisgarh High Court Starts Live-streaming Proceedings on YouTube
The High Court of Chhattisgarh started live-streaming its proceedings on YouTube.
The proceedings in court rooms 1, 3 and 5 were live-streamed by the High Court.
The Chhattisgarh High Court has now joined a growing list of High Courts, which stream their proceedings live.
The High Court of Gujarat had pioneered live-streaming of court proceedings on its YouTube channel in October 2020.
It was followed by the High Courts of Kerala, Karnataka, Orissa, Madhya Pradesh, Patna, Jharkhand and Calcutta, which took the decision in the interest of transparency and greater access to court hearings.
The Supreme Court also started live-streaming its proceedings on YouTube, however, it only live-streams the Constitution Bench hearings.
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