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Competitors
Setback for Ericsson as NCLAT lets RCom withdraw plea against insolvency
Publication- Business Standard
Edition- Online
Date- 01 May, 2019
The National Company Law Appellate Tribunal (NCLAT) on Tuesday allowed debt-ridden Reliance Communications (RCom) to withdraw its petition challenging the National Company Law Tribunal (NCLT) Mumbai’s decision to initiate insolvency against it. RCom moved the application to withdraw its plea after the company board on February 1 decided that it would file for insolvency as all attempts to revive it had been unsuccessful.
The board noted that despite so much time being spent, the lenders had received no proceeds from the proposed asset monetisation. With the NCLAT allowing the withdrawal, the insolvency proceedings against RCom will restart in NCLT Mumbai. Ericsson India had in September 2017 moved insolvency petitions against RCom, Reliance Telecom, and Reliance Infratel at the Mumbai Bench of the NCLT for failing to pay dues amounting to nearly Rs 1,500 crore. The plea was admitted on May 15, 2018.
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Subex wins multi-year deal from Econet Wireless Zimbabwe to deploy Analytics Centre of Trust
Publication- Business Standard
Edition- Online
Date- 01 May, 2019
Subex announced deal with Econet Wireless Zimbabwe (EWZ), a leading telecom operator in Zimbabwe, for the deployment of its Analytics Centre of Trust (ACT) offering. Through the deployment, Econet will be able to transform into an independent data driven organization, thereby improving operational efficiency. Licensed as a mobile telecommunications operator in 1998, Econet is listed on the Zimbabwe Stock Exchange, and is part of the pan-African, diversified Econet Wireless Group. Econet Wireless Zimbabwe is building a strong, consumer-centric ethos that is committed to providing innovative, accessible and refreshingly simple communication solutions that suit customers' everyday needs.
Econet Wireless Zimbabwe was looking to further improve their operational efficiency by effectively leveraging their data to make business decisions. To this end, Subex was selected based on its proven expertise in implementing an analytics solution which is flexible across business cases around Customer, Technology, Product, Sales & Distribution, Risk and Revenue..
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Industry News
Data analytics to become the core tech disruptor in tax functions
Publication- The Financial Express
Edition- Online
Date- 01 May, 2019
In many organisations, finance and tax functions have joined the digital transformation later than other functions like marketing, sales or supply chain; this is leading to a situation where tax functions need to do a significant catch up to bridge the gap. Today, digital transformation is one of the top priorities for CFOs and tax heads. Unlike other functions in an organisation, the tax functions are facing challenges from multiple sides: From the regulation side: Tax returns are picked up for scrutiny based on some pre-configured algorithms that highlight risk factors, the numbers under different statutes or different returns are being compared or auto populated, and discrepancies are being challenged;
From the organisation side: New business models leading to newer transaction types with ambiguous compliance requirements, increase in volume of data that needs to be used for filing, granular reporting requirements that warrant transaction level reconciliations, as with the rest of the organisation tax teams are required to do more with same or less resources.
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Nano Dimension creates world’s first 3D printed IoT communication device
Publication- Elets Online
Edition- Online
Date- 01 May, 2019
Israel-based additive electronics provider Nano Dimension has announced to have created the world’s first fully functional 3D printed communication device to help companies and research institutions to create and test their smart products at a faster speed. The IoT transceiver device was created at least 90 percent faster than conventional devices, which are non 3D printed, the company said. To create a non 3D printed communication device typically takes approximately 14 days or more, but Nano Dimension achieved this feat in just 18 hours through a 3D printer.
The remote-control type IoT device, which is smaller than a silver dollar coin, can easily be developed into a two-way communication device, experts believe. The IoT device can enhance communication with washing machines, televisions, air conditioning system and refrigerators, the quintessential devices in a smart home. Enterprises engaged in manufacture of autonomous vehicles could also utilise this smart device which has been developed with the help of the DragonFly Pro 3D printer.
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20% of Top Global Grocers Will Use Blockchain for Food Safety and Traceability by 2025: Gartner
Publication- CIOL
Edition- Online
Date- 01 May, 2019
Gartner, Inc. predicts that, by 2025, 20% of the top 10 global grocers by revenue will be using blockchain for food safety and traceability to create visibility to production, quality and freshness. Annual grocery sales are on the rise in all regions worldwide, with an emphasis of fast, fresh prepared foods. Additionally, customer understanding has increased for the source of the food, the provider’s sustainability initiative, and overall freshness. Grocery retailers who provide visibility and can certify their products according to certain standards will win the trust and loyalty of consumers.
“Blockchain can help deliver confidence to grocer’s customers, and build and retain trust and loyalty,” said Joanne Joliet, senior research director at Gartner. “Grocery retailers are trialing and looking to adopt blockchain technology to provide transparency for their products. Additionally, understanding and pinpointing the product source quickly may be used internally, for example to identify products included in a recall.”
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Amazon Web Services Launches AMB, Amazon Managed Blockchain Service
Publication- Krypto Money
Edition- Online
Date- 01 May, 2019
Amazon’s cloud computing platform subsidiary, Amazon Web Services (AWS) has made its Amazon Managed Blockchain (AMB) public to enable customers to set up blockchain networks within their organizations, as per an announcement on April 30. In order to achieve the said use, the product will employ Ethereum and Hyperledger open source frameworks. Amazon specifically notes that AMB can scale to support thousands to millions of transactions.
The retail giant further adds that the blockchain-as-a-service (BaaS), will not only allow the businesses to develop their own networks quickly but at a lower cost as well by eliminating the need “to provision hardware, install software, create and manage certificates for access control, and configure network settings.”
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Homegrown Blockchain Protocol Eleven01 Announces Partnership with Korean Blockchain Company
Publication- Crypto News
Edition- Online
Date- 01 May, 2019
India’s first native blockchain protocol, Eleven01, announced their partnership with Hdac Technology, a Korean company that’s working to improve the potential and implementation of blockchain technology. The company is founded by the Chief Executive Officer (CEO) of Hyundai BS&C, Dae Sun Chung. Commenting on the development, Michael Yun, CEO of Hdac Technology, said, “Partnering with the team behind India’s first native blockchain protocol is an opportunity that gives us access to explore the blockchain potential in India. We are excited to be a partner in the Blockchain District which has great potential to be the largest development ecosystem in blockchain.”
In a statement, the CEO of Eleven01, Ausaf Ahmad said, “Working with a knowledgeable hub as HDAC is a wonderful opportunity. We will utilise this partnership to increase the blockchain related knowledge sharing in the Indian market. In addition to that, we will offer our assistance to Hdac to traverse through the start-ups landscape that offer intelligent blockchain-based solutions resulting in growth opportunities for all stakeholders.”
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Facebook F8 2019: From data privacy to blockchain, here’s everything Mark Zuckerberg may announce today
Publication- India Today
Edition- Online
Date- 01 May, 2019
The season of developer conferences is upon us. On April 30, Facebook founder Mark Zuckerberg would take the centre stage at the McEnery Convention Center in San Jose, California at the company's annual two day developers' conference - the F8 2019 -- to talk about the future of Facebook.
During his keynote, the Facebook founder is expected to talk about the products that his company would be focussing on in the company year. This would include products including Blockchain and updates to augmented reality (AR), virtual reality (VR) and Oculus. Apart from this, Zuckerberg is also likely to talk about the company's focus on privacy - something that has been a pain point for the social media giant since last year when a series of scandals and data breaches jolted the company.
Besides this, he also likely to talk about the interoperatability of Facebook products including the Messenger, Instagram and Facebook's main platform - a key area that the Facebook chief executive has talked about in his blog posts earlier this year.
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Accenture bags $2 billion IT contract from US Department of Energy
Publication- Tech Observer
Edition- Online
Date- 01 May, 2019
Accenture has been awarded a blanket purchase order agreement (BPA) by the U.S. Department of Energy (DOE) that blends core information technology (IT) services with ongoing and new modernization priorities for DOE technology systems and infrastructures. With a potential value of $2 billion and a five-year performance period, the CIO Business Operations Support Services (CBOSS) contract covers general IT support, telecommunications, cybersecurity, systems architecture and engineering, and shared services.
Under the terms of the CBOSS contract, Accenture Federal Services (AFS) will support DOE’s plan to migrate from an on-premises service model to a modern, cloud-based IT services model that will incorporate leading-edge, commercially available products and services. The approach aims to improve IT flexibility and reduce redundant infrastructure and commodity services while strengthening the overall security of the DOE’s IT environment.
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