Xiaomi Says Planning to Set Up More Manufacturing Plants in India

Xiaomi India, popular for its smartphone brand, has plans to set up more plants and add capacity to manufacture phone and products in other categories. The company currently has three manufacturing plants – two for phones in Sri City, Andhra Pradesh and one for power banks in Noida, its Vice-President Manu Jain told reporters in Hyderabad. “We are definitely exploring. We want to add more capacity. We want to set up more plants, not just for phones, even for other categories like Mi-band. There are many other categories…,” he said….

Read More

Samsung Electronics to Set Up AI Research Centre

Samsung Electronics Co Ltd said on Wednesday it would create an artificial intelligence (AI) research centre and strengthen an executive role to look for new business areas for all its three major business groups. The minor changes to the tech giant’s business structure were to “quickly respond to market changes,” Samsung Electronics said in a statement. The move follows last month’s appointment of a new generation of top managers that dispelled lingering worries about a leadership vacuum from the detention of Vice Chairman Jay Y. Lee. The new AI research centre would be under a…

Read More

Finance Minister set to make ‘major’ announcement — banks recapitalisation on cards?

Finance Minister Arun Jaitley will make a major announcement on Tuesday evening, possibly in connection with the recapitalisation plans for public sector banks, sources have told CNBC-TV18. At a press conference scheduled for 4pm, the minister is likely to decide the plan for increasing capital to the weak balance sheets of banks including United Bank of India, UCO bank, Corporation bank, Allahabad Bank, Indian Overseas Bank, and Dena Bank, among other capital starved banks as the industry suffers from a decade-low credit growth at around 6 percent. According to sources, the minister may announce recap bonds (not…

Read More

MIT, IBM set up a joint research lab for Artificial Intelligence

Massachusetts Institute of Technology (MIT) and IBM on Thursday announced a new joint collaboration for research in the field of Artificial Intelligence (AI). The new MIT-IBM Watson AI Lab will support joint research by IBM and MIT scientists. IBM is planning to spend $240 million over the next decade to create the artificial intelligence research lab at MIT. Its mission will include advancing the hardware, software and algorithms used for artificial intelligence. It also will tackle some of the economic and ethical implications of intelligent machines and look at its…

Read More

NCTE set to grade B.Ed and teacher training institutes to improve quality

The National Council for Teacher Education (NCTE) will start grading B.Ed colleges and teacher training institutes in the country from July 10, starting with Bihar. According to Dr. A. Santhosh Mathew, chairperson of NCTE, each institution will be classified into four categories: A, B, C and D. Those falling in category D will be asked to close down while category C institutes will be inspected again within a year’s time and if it fails to improve it will be asked to shut shop. Under the revised framework, the institutions will…

Read More

Eyes set on sky, children display drone-flying skills in Lucknow

All eyes were set on the sky as young minds gave wings to their dreams and skills at La Martiniere College ground in Lucknow on Thursday. After learning how to make and control unmanned aerial vehicles (UAVs) during a 20-day summer camp, 30 children in the age group of 6-16 years demonstrated their drone-flying skills on the concluding day of the programme. “This is the first time in the country where a platform was provided to the children to ignite their young minds to draw them towards aviation and robotics,”…

Read More

Dallas warning sirens set off by hacker

The sirens are usually used to warn of extreme weather events such as tornadoes. “All 156 sirens in the city were activated last night – it does appear at this time that it was a hack,” a spokeswoman for the city told reporters. The noise “woke up a lot of people”, she added. The sirens were activated at 23:42 local time (04:42 GMT) on Friday and lasted for about 90 minutes. Some posted footage online in which the sirens can clearly be heard. Technicians for the Office of Emergency Management…

Read More

Turkey set to release 38,000 prisoners, makes space in jails after coup

Turkey will release some 38,000 prisoners under a penal reform announced on Wednesday as the arrests of tens of thousands of people suspected of links to last month’s attempted coup burden overstretched jails. The reform, extending an existing probation scheme, was one of a series of measures outlined on Wednesday in two new decrees under a state of emergency declared after the July 15 failed putsch during which 240 people were killed. The government gave no reason for the reform. Turkey’s Western allies worry President Tayyip Erdogan is using the…

Read More

Bank of England set to cut rates as survey flags sharpest UK downturn since 2009

Britain’s economy is shrinking at its fastest rate since the financial crisis after last month’s Brexit vote, making a Bank of England rate cut on Thursday a “foregone conclusion”, a closely watched survey of businesses showed. Financial data company Markit said its monthly all-sector Purchasing Managers’ Index chalked up the steepest month-on-month decline on record after big falls in activity at private-sector services, manufacturing and construction firms. “The unprecedented month-on-month drop in the all-sector index has undoubtedly increased the chances of the UK sliding into at least a mild recession,”…

Read More

Int’l alumni network set to reach 100,000

Since its inception just two months ago, the International Alumni Job Network already has 10,000 alumni engaged and it is on track to reach 100,000 by the end of the year. The network is tailored for Asian alumni who have graduated from universities in Australia, Canada, the UK and the US, who can browse the online jobs board and look for work opportunities in their region. “We’re here to provide connections,” CEO and co-founder, Kate Harden, toldThe PIE News. “An avenue through which employers can reach this high quality labour…

Read More