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New Delhi, <keyword id="10387" type="COMPANY" weightage="20" keywordseo="Microsoft">Microsoft</keyword> on Thursday launched its new <keyword id="724264" type="DOMAIN" weightage="20" keywordseo="India-Development">India Development</keyword> Centre (IDC) facility at <keyword id="18858" type="COMPANY" weightage="20" keywordseo="Noida">Noida</keyword> the architecture of which is inspired by the Taj Mahal. The new facility will serve as a premier hub for driving engineering and innovation, Microsoft said, adding that the new facility is Microsoft's third Development Centre in <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword> after Bengaluru and Hyderabad. "Recognising the strategic importance of establishing Microsoft engineering presence in Noida, my team went over and beyond in ensuring that our first engineering hub in Noida truly represents Microsoft Design Language infused with local culture and inheritance," Riku Pentikainen, Regional Director, Asia Real Estates <keyword id="6363823" type="COMPANY" weightage="20" keywordseo="operations">Operations</keyword>, Microsoft, said in a statement. "In this respect, I feel the team overdid themselves, and the newly opened Noida office is one of the most beautiful Microsoft workspaces, we have designed, to date." The centre will provide opportunities for engineering talent in the areas of business and productivity tools, <keyword id="107950" type="COMPANY" weightage="20" keywordseo="artificial-intelligence">Artificial Intelligence</keyword>, cloud and enterprise, core services, and the new gaming division. It will collaborate with Microsoft teams globally to build products and services for driving digital innovation. "The Microsoft NCR workplace represents a critical expansion of our world-class technology talent and exceptional engineering presence in India," said Rajiv Kumar, Managing Director, Microsoft India Research &amp; Development Pvt. Ltd. Microsoft India Development Center (IDC) is one of Microsoft's largest R&amp;D centres outside the Redmond headquarters in the US. Set up in Hyderabad in 1998, IDC drives Microsoft's strategy of globally shared development to build products and services. With a presence in Hyderabad, Bengaluru, and now NCR, IDC houses three technology groups and core engineering services. IDC also recently opened an additional office space at Sohini Tech Park in Hyderabad. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/hindustan-unilever-third-quarter-profit-revenue-and-share-price/articleshow/80480554.cms?upcache=2">A timely deal with GSK closed during the lockdown has helped Unilever three quarters in a row in India</a> <a href="https://www.businessinsider.in/budget/news/a-playbook-for-budget-2021-to-boost-electronics-manufacturing-in-india/articleshow/80476759.cms">A playbook for Budget 2021 to boost electronics manufacturing in India</a> <a href="https://www.businessinsider.in/tech/news/bytedance-lays-off-employees-in-india-months-after-tiktok-ban-in-the-country/articleshow/80476721.cms">ByteDance lays off employees in India, months after TikTok’s ban in the country</a>

Microsoft launches new India Development Centre facility in Noida

Mumbai, Jan 9 () GMR Hyderabad Aerotropolis, a subsidiary of GMR Hyderabad International Airport, on Thursday said it has formed a joint venture with Warburg Pincus-backed logistics developer e-Shang Redwood (ESR) to develop a logistics and industrial park at an estimated cost of Rs 550 crore. 
 The joint venture with ESR Hyderabad, a subsidiary under the Hong Kong headquartered ESR Cayman, will develop a 66-acre logistics and industrial park at the Hyderabad airport city with the project having a capital outlay of Rs 550 crore.
 ESR and GMR Hyderabad Aerotropolis Ltd (GHAL) have entered into definitive agreement with an equity interest of 70 per cent and 30 per cent, respectively, in the special purpose vehicle 'GMR Logistics Park', GMR said in a statement.
 "The JV proposes to develop a flagship airport centric logistics and industrial park providing state-of-the-art facilities for warehousing, distribution centers and non-polluting industrial such as light assembly," it said.
 The park will provide new age facilities and amenities to occupiers and help attract investments and employment in the region, it said.
 "This collaboration would set new standards for the warehousing and industrial real estate sector. It would also benefit the burgeoning cargo industry in the region," GMR Group CEO Airport Land Development Aman Kapoor said.
 Commenting on the partnership, ESR India Country Head Abhijit Malkani said, "This tie-up reiterates our strategic mission to strengthen our facilities and key positions across the country. This new facility at Hyderabad Airport is our latest investment to support national and global trade to and from Telangana."
 Being strategically located, this state-of-the-art facility showcasing smart, sustainable and human-centric design will pave the way for Indian and global companies to capitalise on the immense growth opportunities available in the Indian market, he added. 
 Last June, ESR partnered city-based realty player Lodha Group to develop an industrial park in Thane district at a cost of USD 100 million. PSK
 RVK

GMR Hyderabad Aerotropolis forms JV with ESR to develop logistics park for Rs 550 cr

<ul><li><keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> Web Services (<keyword id="291131" type="ORGANIZATION" weightage="20" keywordseo="AWS">AWS</keyword>) is expanding its infrastructure footprint in India by launching a new cluster of data centers in Hyderabad. </li><li>This will be the second AWS region within India after Mumbai, and is expected to go live by mid-2022. </li><li>AWS investment is the largest FDI in the history of Telangana worth ₹20,761 crore ($2.77 billion). </li></ul>Amazon Web Services is expanding its footprint in India by launching a second hub within the country, this time in Hyderabad, Telangana. This marks Telangana’s largest-ever FDI worth ₹20,761 crore ($2.77 billion). <div type="twitter" handle="KTRTRS" handlename="KTR" image="http://pbs.twimg.com/profile_images/1321443744126660610/Yz5Ou0F1_normal.jpg" favoritecount="1077" retweetcount="203" status="Happy to announce the largest FDI in the history of Telangana! After a series of meetings, AWS has finalized invest… https://t.co/oPLlJROxE8" createdat="1604642547000" id="1324592966212612096"></div> “Hyderabad met the most rigorous requirements that we have for data centers,” said Puneet Chandok, the President of Commercial Business at AISPL India and South Asia. The region is expected to be up and operational by mid-2022. While the company did not disclose the financial details of the deal, Chandok highlighted that the impetus continues to be on creating highly skilled and well-paid jobs in the local economy. “The kind of roles we’re hiring for today includes data center engineers, support engineers, engineering operations managers, security specialists and many more,” he said. Three new AWS availability zones The new cluster of data centers will add another three availability zones to the three that already exist in India under the AWS Mumbai region. “This will fulfill the long term capacity needs of a country like India,” said Chandok. A region is a physical location where data centres are located. Availability zones, on the other hand, are the actual technology infrastructure in separate and distinct geographical regions. Three new availability zones mean that three different locations within Hyderabad will be scouted for setting up data centers. “Each availability zone is a fully isolated partition of the AWS global infrastructure. This means it is physically separate from any of the other availability zones by a meaningful distance,” explained Chandok. Why did AWS choose Hyderabad? Chandok highlighted that AWS chose Hyderabad for its new hub because of Telangana’s policies specifically targeted at the growth of IT and IT services in India. “Hyderabad is the city that’s home to several startups and enterprises with a skilled workforce today,” he said. It’s also about the location itself. The company explains that Hyderabad fits the parameters of latency, cost, availability, security and scalability. “There will lower latency to address the South India market,” said Rahul Sharma, the President for Public Sector at AISPL across India and South Asia. The <keyword id="10230214" type="UNKNOWN" weightage="20" keywordseo="aws-hyderabad">AWS Hyderabad</keyword> region will be the 11th region for the company in Asia. SEE ALSO: <a href="https://www.businessinsider.in/tech/enterprise/news/aws-expands-india-footprint-with-plans-for-a-second-cluster-of-data-centers-in-hyderabad-by-2022/articleshow/79075220.cms">AWS pumps $2.7 billion into India to set up a second cluster of data centers in Hyderabad by 2022</a> <a href="https://www.businessinsider.in/defense/news/india-and-china-slated-to-hold-8th-round-of-military-level-talks-as-troops-gear-up-for-ladakhs-sub-zero-winters/articleshow/79074473.cms">India and China slated to hold 8th round of military-level talks as troops gear up for Ladakh’s sub-zero winters</a> <a href="https://www.businessinsider.in/tech/news/whatsapp-pay-upi-rolls-out-while-google-pay-phonepe-have-already-got-the-first-sting-with-the-npci-cap/articleshow/79075049.cms">WhatsApp Pay UPI is now live while Google Pay, PhonePe have already got the first sting</a>

AWS pumps $2.7 billion into India to set up a second cluster of data centers in Hyderabad by 2022

<keyword id="141182" type="COMPANY" weightage="20" keywordseo="Larsen-Tourbo">Larsen &amp; Tourbo</keyword>’s technology arm, L&amp;T Technology Services, has successfully acquired the engineering services vertical of US technology company <keyword id="28251" type="CITY" weightage="20" keywordseo="Dell">Dell</keyword>. With the acquisition deal closed, the engineering giant will now provide comprehensive engineering research and development (ER&amp;D) services to its transportation customers, through its global delivery centers in the US and India. 
	 “Product engineering is undergoing structural shifts with evolving technologies, shorter development cycles, regulatory demands, and a shortage of skilled talent. This is a tremendous opportunity for us to have a strong local presence in North America where a majority of our clients are based. That along with <keyword id="2549810" type="UNKNOWN" weightage="20" keywordseo="Dell-Engineering-Services">Dell Engineering Services</keyword>’ strong expertise in Embedded, and Mechanical Design &amp; Analysis and a history of successful relationships in North America will help us ride the next level of growth,” said Keshab Panda, chief executive of L&amp;T Technology Services. 
	 
	He further added, “The transaction enhances L&amp;T Technology Services’ ability to offer differentiated technology solutions and full program management services by leveraging global-local talent base at any point in the product development cycle. Dell Engineering Services has delivery centers in Illinois, Iowa and Texas in the US and Bangalore and Hyderabad in India.” 
	 
	The American division of Dell Engineering Services will become a part of L&amp;T Technology Services’ North America Offsite Delivery center and will have the headquarter in Peoria, Illinois. The company through the deal will now have greater access to the customer base of Dell Engineering Services and will enjoy a better share in the $4 billion transportation ER&amp;D market.

India’s Engineering Major L&T Acquires Dell’s Engineering Services Division

The demand for office spaces during the first quarter of 2024 has been strong, registering total leasing of 13.6 million square feet across the top six cities. It is a remarkable 35 per cent increase compared to the same period last year, according to professional services and investment management company Colliers. Although this is a significant drop from the record office space take-up in the last quarter of 2023, the remarkable annual increase is indicative of upbeat occupier sentiment, given the fact that the first quarter is typically slower, Colliers said in a report. Bengaluru and <keyword id="19900176" type="General" weightage="20" keywordseo="hyderabad" source="keywords">Hyderabad</keyword> emerged as frontrunners for demand of Grade A office space in the first quarter of 2024, cumulatively accounting for more than half of the <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> leasing activity. The office market of Hyderabad saw 2.2x space uptake in Q1 2024 as compared to the corresponding quarter last year. This demand was driven by healthcare and pharma and technology sectors. Amongst other major office markets, Mumbai too experienced a notable surge in leasing activity, an impressive 90 per cent yearly rise in Q1 2024. "Hyderabad continues to strengthen its role as a prominent commercial office market in the country. The city offers occupiers including <keyword id="20942407" type="General" weightage="20" keywordseo="global-capability-centers" source="keywords">Global Capability Centers</keyword> considerable price arbitrage compared to other markets. Furthermore, proactive government policies, continuous infrastructure upgrades and a favorable business ecosystem makes Hyderabad a compelling destination for investors, occupiers, and leading developers of commercial real estate in India," said Arpit Mehrotra, Managing Director, <keyword id="21062240" type="General" weightage="20" keywordseo="office-services" source="keywords">Office services</keyword>, India, Colliers. "Within Hyderabad, the trifecta of Hi-Tec City, Gachibowli and <keyword id="19948349" type="General" weightage="20" keywordseo="madhapur" source="keywords">Madhapur</keyword> continued to drive leasing activity in Q1 2024. Of the 2.9 million square feet of Grade A space uptake in the first quarter, over 80 per cent of the demand was concentrated in these three localities," said Mehrotra. During Q1 2024, new supply across top six cities remained steady, at 9.8 million square feet, almost at par with the level seen in Q1 2023. According to Colliers, Bengaluru witnessed significant new project completions, contributing to 45 per cent of the total new supply, followed by Hyderabad at 27 per cent share. With demand outpacing supply, average rentals saw up to 8 per cent uptick on a yearly basis across most of the major markets. "As business sentiments and economic outlook remains positive, domestic occupiers, especially will continue to drive the office market of the country," said Vimal Nadar, Senior Director and Head of Research, Colliers India. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/oneplus-12-review/articleshow/108723955.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-12-review/articleshow/108723955.cms" target="_blank">OnePlus 12 review: A feature-packed device with promising battery back-up</a><a href="https://www.businessinsider.in/business/auto/news/jsw-group-and-saic-motors-jv-jsw-mg-motor-india-set-to-up-production-to-3-lakh-vehicles-a-year-with-a-new-car-every-3-6-months/articleshow/108647799.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/jsw-group-and-saic-motors-jv-jsw-mg-motor-india-set-to-up-production-to-3-lakh-vehicles-a-year-with-a-new-car-every-3-6-months/articleshow/108647799.cms" target="_blank">JSW Group and SAIC Motor’s JV ‘JSW MG Motor India’ set to up production to 3 lakh vehicles a year with a new car every 3-6 months</a><a href="https://www.businessinsider.in/tech/news/asus-rog-strix-scar-16-review/articleshow/108514221.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/asus-rog-strix-scar-16-review/articleshow/108514221.cms" target="_blank">Asus ROG Strix Scar 16 review – powerful gaming laptop with a cool design</a>

Office space leasing in India off to a strong start in Q1-2024

Hyderabad, Amid the gloom caused by COVID-19, one sector which provided a ray of hope was life sciences and turning the challenge into an opportunity, Hyderabad fortified its position as a global force in the world of pharmaceuticals. This southern city, already recognised as a global information technology destination, proved its prowess in the field of pharmaceuticals and biotechnology and emerged as the vaccine capital of the world. Already known as the bulk drug capital of India, Hyderabad witnessed manufacturing of lifesaving COVID-19 drugs like Remdesivir, Hydroxychloroquine and Favipiravir by some of the top pharma companies based here. This was followed by hectic efforts in the city to develop COVID-19 vaccine. In fact, Hyderabad has emerged as the nerve centre of all research and development activities in the country for COVID-19 vaccines and has even attracted international attention. Today, almost all the vaccines being developed in the country for the pandemic have a Hyderabad connect. Four of the six companies developing COVID vaccines in India are based in Hyderabad. <keyword id="149108" type="COMPANY" weightage="20" keywordseo="Bharat-Biotech">Bharat Biotech</keyword> is currently conducting Phase III clinical trials of India's first indigenous COVID-19 vaccine Covaxin. Covaxin is being developed in collaboration with <keyword id="1256547" type="COMPANY" weightage="20" keywordseo="The-Indian-Council-of-Medical-Research">the Indian Council of Medical Research</keyword> (ICMR) - National Institute of Virology (NIV). This indigenous, inactivated vaccine is being developed and manufactured in Bharat Biotech's BSL-3 (Bio-Safety Level 3) bio-containment facility at Genome Valley here. According to Bharat Biotech, Covaxin has been evaluated in approximately 1,000 subjects in Phase I and Phase II clinical trials, with promising safety and immunogenicity results. The Phase III human clinical trials of the vaccine began in November, involving 26,000 volunteers across India. This is India's first and only Phase III efficacy study for a COVID-19 vaccine, and the largest phase III efficacy trial ever conducted for any vaccine in India. "Covaxin has garnered interest from several countries worldwide for supplies and introduction," said Suchitra Ella, Joint Managing Director of Bharat Biotech. In April, Bharat Biotech announced development of CoroFlu, an intranasal vaccine for <keyword id="8698690" type="COMPANY" weightage="20" keywordseo="coronavirus-">Coronavirus.</keyword> University of Wisconsin–Madison and vaccine company FluGen along with Bharat Biotech began the development and testing of CoroFlu. The Hyderabad based company will produce almost 300 million doses of vaccine for global distribution. In May, Bharat Biotech and Thomas Jefferson University of Philadelphia signed an exclusive deal to develop a new vaccine candidate for COVID-19 invented at Jefferson. The novel vaccine was developed using an existing deactivated rabies vaccine as a vehicle for coronavirus proteins. Bharat Biotech claimed to have excellent track record of innovation with more than 140 global patents, a wide product portfolio of more than 16 vaccines, 4 bio-therapeutics, registrations in more than 116 countries and WHO Pre-qualifications. The company has so far developed vaccines for H1N1, Rotavirus, Japanese Encephalitis, Rabies, Chikungunya, Zika and the world's first conjugated vaccine for Typhoid. It has delivered more than four billion doses of vaccines worldwide. It is also the largest Rabies vaccine manufacturer in the world. Another city-based firm Biological E last month initiated clinical trial of its COVID-19 subunit vaccine candidate in India following approval from the Drugs Controller General of India (DCGI). BE is making the vaccine in collaboration with <keyword id="5289395" type="COMPANY" weightage="20" keywordseo="dynavax-technologies-corporation">Dynavax Technologies Corporation</keyword> (Dynavax), a US-based vaccine focused biopharmaceutical company, and <keyword id="503459" type="COMPANY" weightage="20" keywordseo="Baylor-College-of-Medicine">Baylor College of Medicine</keyword>, a health sciences university in Houston. Biological E has also signed an agreement with Johnson &amp; Johnson to produce the latter's vaccine at its vaccine production facilities and sell them both in India and export across various global markets. Indian Immunologicals, a human and animal vaccines maker, too is developing a vaccine for COVID. Hyderabad-based pahrma major Dr Reddy's Laboratories is conducting clinical trials of Russian COVID-19 vaccine, Sputnik V. Russian Direct Investment Fund (RDIF), Russia's sovereign wealth fund, has collaborated with Dr Reddy's to conduct clinical trials and distribute the vaccine in India. Hyderabad was under spotlight with the recent visits by Prime Minister Narendra Modi and ambassadors of more than 60 countries to the facilities of Bharat Biotech and Biological E in Genome Valley Telangana's industry minister K. T. Rama Rao believes that Hyderabad has cemented its position as the vaccine capital of the world. He pointed out that Hyderabad is already manufacturing more than two billion doses of vaccines every year, which is one-third of the global vaccine output. The city, with its strong ecosystem, has played a critical role in making India not only self-sufficient in the medicine manufacture but also turned it into the pharmacy capital of the world. It accounts for 40 per cent of the total Indian bulk drugs and 50 per cent of the bulk drug exports. Industry leaders believe that Hyderabad will be an integral part of the global efforts to vaccinate the world against COVID. Even if no vaccine is developed in the city, the city will still have a big role to play in global vaccination efforts with the sheer vaccine manufacturing capacity it houses. Hyderabad has the largest US FDA approved vaccine facilities. They have the capacity to manufacture millions of doses with world-class standards. "India's vaccine sector will play a critical role in developing and producing vaccine at scale for distribution across the world. Hyderabad's importance in the global vaccine landscape is only growing," K.T. Rama Rao said. Telangana government has assured the companies that it will play the enabling role in global vaccination efforts against COVID-19. The Hyderabad airport announced few days ago that has developed necessary infrastructure to handle the exports. As per the industry insights, most of India's vaccine export will be to Africa, Latin America and Asian destinations. Hyderabad is already home to more than 800 life sciences companies and the sector employs over 1,20,000 pharmaceutical professionals. It is said to be the only city in the country to house more than 20 incubation centres focused only on life sciences and health-tech. More than 200 start-ups are also working on innovative solutions in healthcare. Genome Valley is India's first organised cluster for life sciences R&amp;D activities spread across 600 square kilometers. Set up in 1999, it has world-class infrastructure facilities in the form of <keyword id="10464926" type="COMPANY" weightage="20" keywordseo="industrial-/-knowledge">Industrial / Knowledge</keyword> parks, Special Economic Zones (SEZs), Multi-tenanted dry and wet laboratories and incubation facilities. It is home to more than 200 companies including presence of the marquee global names like Novartis, GlaxoSmithKline, Ferring Pharma, Chemo, DuPont, Ashland, United States Pharmacopeia and Lonza. With <keyword id="4920024" type="LOCATION" weightage="20" keywordseo="Hyderabad-Pharma-City">Hyderabad Pharma City</keyword> also likely to be operational soon, the city is looking to ramp-up production of Active Pharmaceutical Ingredients (APIs) and thus develop a cluster to help the country compete with China. The new project is expected to create 1,70,000 direct jobs and 5,60,000 indirect jobs. SEE ALSO: <a href="https://www.businessinsider.in/tech/enterprise/news/wistron-apple-iphone-manufacturer-could-face-these-penalties-if-found-guilty/articleshow/79790319.cms">If investigators find Wistron management guilty, here's what is at stake for the company</a> <a href="https://www.businessinsider.in/stock-market/news/heres-what-analysts-say-if-you-should-subscribe-or-not-to-the-300-crore-ipo-of-antony-waste-handling-cell/articleshow/79790998.cms">Antony Waste Handling Cell ₹300-crore IPO will open on Monday— these are the risks and opportunities</a> <a href="https://www.businessinsider.in/business/news/ikea-india-cfo-says-she-still-has-3500-crore-to-be-spent-in-india-the-pandemic-has-changed-targets-but-not-the-investment-plan/articleshow/79790938.cms">INTERVIEW: Ikea CFO says she still has ₹3,500 crore to be spent in India⁠— the pandemic has changed targets but not the investment plan</a>

Hyderabad : Vaccine capital of the world

<ul><li>Now, it is looking to add 1,000 more to its current 4,500 employees in India.</li><li><keyword id="6357940" type="DEFINITION" weightage="20" keywordseo="paypal">PayPal</keyword> had earlier said that it would no longer offer domestic services within India, and would focus only on Indian businesses that are going global.</li><li>The company had said that in 2020 it processed $1.4 billion worth of international sales for over 360,000 merchants in India.</li></ul>Global payments giant PayPal is ramping up its team in India. The company plans to hire 1,000 engineers in 2021, across its India Development Centers across Bangalore, Chennai, and Hyderabad. PayPal had <a href="https://www.businessinsider.in/tech/news/paypal-to-focus-on-indian-businesses-wanting-to-go-global-as-it-winds-down-operations-from-april-1/articleshow/80699809.cms">earlier said</a> that it would no longer offer domestic services within India, and would focus only on Indian businesses that are looking to go global. Now, it is looking to add 1,000 more to its current 4,500 employees in India. The US-based payment company, co-founded by Peter Thiel, is <keyword id="6357342" type="UNKNOWN" weightage="20" keywordseo="Hiring">hiring</keyword> for roles across software, product development, data science, risk analytics and business analytics streams at entry, mid-level, and senior roles. It would also be heading for campus hirings. “Our India Technology Centers are the largest for PayPal outside of the U.S. and play a pivotal role in enabling us to constantly innovate and remain ahead of the curve. As digital payments move from a nice to have to an essential service, we are focused on investing in and nurturing world class technology talent to continue to offer products and services that meet the needs of our growing base of consumers and merchants,” said Guru Bhat, a vice president at PayPal India in a statement. For PayPal, India remains an important market. The company had said that in 2020 it processed $1.4 billion worth of international sales for over 360,000 merchants in India. Globally, PayPal had reported a revenue of $6.12 billion from the fourth quarter of 2020. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/india-largest-insurer-lic-is-inviting-bids-from-payment-aggregators/articleshow/81304375.cms">EXCLUSIVE: India's largest insurer LIC is inviting bids from payment aggregators⁠</a> <a href="https://www.businessinsider.in/india/news/spicejet-partners-with-wheeltug-for-electric-taxi-system-as-the-airline-targets-lower-fuel-costs/articleshow/81307104.cms">SpiceJet partners with WheelTug for electric taxi system, as the airline targets lower fuel costs</a> <a href="https://www.businessinsider.in/business/news/indian-companies-stand-to-lose-7-14-lakh-crore-to-climate-change-but-they-could-end-up-making-2-9-lakh-crore-too/articleshow/81306789.cms">Indian companies stand to lose ₹7.14 lakh crore to climate change — but they could end up making ₹2.9 lakh crore too</a>

PayPal, which had shut down domestic operations in India, now plans to hire 1,000 engineers

Leading vaccine maker <keyword id="149108" type="COMPANY" weightage="20" keywordseo="Bharat-Biotech">Bharat Biotech</keyword> on Wednesday announced a licensing agreement with Washington University School of Medicine in St. Louis for a novel chimp-adenovirus, single dose intranasal vaccine for Covid-19. The Hyderabad-based company owns the rights to distribute the vaccine in all markets except USA, Japan and Europe. While the Phase I trials will take place in Saint Louis University's Vaccine &amp; Treatment Evaluation Unit, Bharat Biotech, upon obtaining the required regulatory approval, will pursue further stages of clinical trials in India and undertake large scale manufacture of the vaccine at its GMP facility located in Genome Valley, Hyderabad. According to Bharat Biotech, this intranasal vaccine candidate has shown unprecedented levels of protection in mice studies; the technology and data having been recently published in the prestigious scientific journal ‘Cell' and in an editorial in ‘Nature'. "We are proud to collaborate on this innovative vaccine. We envision that we will scale this vaccine to 1 billion doses, translating to 1 billion individuals vaccinated receiving a single-dose regimen. An intranasal vaccine will not only be simple to administer but reduce the use of medical consumables such as needles, syringes, etc., significantly impacting the overall cost of a vaccination drive," said Krishna Ella, Chairman and Managing Director of Bharat Biotech. "Our experience in viral vaccines, manufacturing capabilities, and distribution continue to be our strong suit in ensuring safe, efficacious, and affordable vaccines. It is prudent for Bharat to be involved in diverse but tenable projects to provide a much-needed vaccine against Covid-19 reaches all citizens of the world," he added. David T. Curiel, Director of Biologic Therapeutics Center and Professor of Radiation Oncology at Washington University School of Medicine in St. Louis and Precision Virologics Interim CEO said that the ability to accomplish effective immunization with a single nasal dose is a major advantage, offering broader reach and easier administration. "An effective nasal dose not only protects against Covid-19, but it also prevents the spread of the disease by offering another kind of immunity that occurs primarily in the cells that line the nose and throat. Most other vaccine candidates currently under development can't do that," he said. This vaccine expands Bharat's portfolio of vaccines that are currently being developed and are in various stages of clinical development including Covaxin which is currently in Phase II human clinical trials in India, the company said. <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/reliance-jio-share-price-is-twice-as-valued-as-bharti-airtel-stock-while-vodafone-idea-vi-ranks-third/articleshow/78269261.cms">Reliance Jio is now twice as valued as Airtel that is down 25% from its peak in May</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/defense/news/china-has-hardened-its-stance-experts-decode-the-india-china-joint-statement-on-border-tensions/articleshow/78270081.cms">China has hardened its stance — experts decode the India-China joint statement on border tensions</a>

Bharat Biotech partners with Washington varsity for intranasal COVID-19 vaccine

<ul><li>Ethos is opening its new office in the tech hub of <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> — Bengaluru.</li><li>It will be hiring 150 people by next year or so for its engineering, data science and analytics and other departments.</li><li>The company will also be moving to other states like Hyderabad and Mumbai, Wange told Business Insider in an interview.</li></ul>Ethos, which is a United States-based term life insurance provider company, is all set to enter the Indian market by opening its new office in the tech hub of India — Bengaluru — to expand its technology innovation, engineering research and development, data analytics, data science, and operations, with a significantly large business delivery teams. To grow its business in India, the US company will be hiring 150 people by next year or so, which will be 30% of the total workforce of the company. It will be hiring people around in Bengaluru largely for engineering, data science and analytics, product management, and revenue and sales, told Lingke Wang, cofounder and president at Ethos to Business Insider in an interview. Wang said, “A lot of our top leadership is from India and after extensive research, we decided to set up an office in Bengaluru, as the city is fast emerging as a center for exceptional talent. We believe that this office will be critical for our next growth phase. India is home to one of the largest tech and analytics talent pools, and we plan to set up a significant business delivery team here, as well as build a team of experts that will help transform the lives of millions through our mission of making life insurance accessible and affordable for all.” The reason behind hiring, he mentioned, “The part of the reason why we’re hiring people in Bengaluru is because we need skill in our company to continue to grow our business.” When asked about further growth plans in India, Wange expressed his interest in moving to other states like Hyderabad, and Bombay (Mumbai). He said, “ Down the road opening more offices is definitely on the table. We may look into some areas like Hyderabad because we can see the potential opportunity and of course Bombay, but our real focus right now is to work on our Bengaluru office.” The company has raised over $400 million from an all-star cast of investors, including – Softbank Vision Fund 2, Sequoia Capital, Accel, GV (formerly Google Ventures), General Catalyst, Jay-Z's Roc Nation, and the investment vehicles of stars Will Smith and Robert Downey Jr. It will use the latest fund raise to grow and expand its business in India. The company claims that it issued $13 billion in life insurance coverage last year and was valued at $2.7 billion in 2021 and overall revenue and users grew by more than 600% year-over-year in 2021. Ethos has its offices in Austin, San Francisco, Seattle, and Singapore. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/with-an-eye-on-ipl-mukesh-ambani-boosts-his-war-chest-with-a-13500-crore-investment-from-murdoch/articleshow/91141584.cms">With an eye on IPL, Mukesh Ambani boosts his war chest with a ₹13,500 crore investment from Murdoch</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/ola-may-be-rushing-into-electric-cars-when-scooters-continue-to-underperform/articleshow/91141264.cms">Is Ola hurrying into its electric car dream?</a>

US-based life insurance provider Ethos to set up its office in Bengaluru and hire 150 people in India

<ul><li>Microsoft CEO and chairman <keyword id="276564" type="General" weightage="20" keywordseo="satya-nadella" source="Orion">Satya Nadella</keyword> received the <keyword id="6367604" type="General" weightage="20" keywordseo="padma" source="Orion">Padma</keyword> Bhushan award from the Indian Consul General in San Francisco.</li><li><keyword id="2045946" type="General" weightage="100" keywordseo="nadella" source="Orion">Nadella</keyword> was born in a family of professionals and now heads one of the few trillion-dollar companies of the world. </li><li>Nadella has been with Microsoft for nearly two-thirds of the company’s existence.</li></ul>Satya Nadella has an unassuming demeanor for a CEO of one of the few <a href="https://www.businessinsider.in/business/corporates/news/heres-what-it-takes-to-make-a-trillion-dollar-company/articleshow/94940917.cms">trillion-dollar companies in the world</a>. Now, this Hyderabad-born IAS officer’s son has received the Padma Bhushan, India’s third highest civilian award from India’s Consul General in San Francisco, Dr T V Nagendra Prasad. Nadella is the only third CEO of Microsoft after the company’s founder Bill Gates, and Steve Ballmer. He is credited with revolutionizing Microsoft’s cloud business, from lagging behind Amazon to bagging multi-billion dollar US Defense Department’s contracts. Nadella was appointed Microsoft’s CEO – the third in the company’s 47-year-old history – in 2014. Earlier in 2021, he was also appointed as the company’s chairman, making him responsible for setting the tone for Microsoft’s future. Nadella was awarded the Padma Bhushan along with other IT veterans – Tata Sons’ CEO Natarajan Chandrasekaran, and Alphabet CEO Sundar Pichai. Nadella says he will visit India in January next year, according to a PTI report. <cmsannotation type="cmsannotation" annotationid="Born in a family of professionals" comment="subhead" text="Born in a family of professionals">Born in a family of professionals</cmsannotation> Born in Hyderabad in 1967, Satya Narayana Nadella came from a family of professionals. His father, Bukkapuram Nadella Yugandhar, was an IAS officer while his mother, Prabhavati, was a Sanskrit lecturer. Nadella started his journey in one of Hyderabad’s illustrious schools, the Hyderabad Public School. Like many students, Nadella opted for engineering – he got his electrical engineering degree from Mangalore University in 1988. He went on to do his master’s in computer science from the University of Wisconsin in 1990. Nadella married Anupama Nadella in 1992, and has three children. Nadella’s journey sounds like a typical South Indian’s – an engineering degree and work for a tech company. Soon after finishing his master’s in the US in 1990, Nadella worked for Sun Microsystems for two years before landing a job at Microsoft in 1992. <cmsannotation type="cmsannotation" annotationid="Nadella’s Microsoft journey – from a developer to the chairman" comment="subhead" text="Nadella’s Microsoft journey – from a developer to the chairman">Nadella’s Microsoft journey – from a developer to the chairman</cmsannotation> Nadella’s rise to the top echelons of Microsoft started with him being scooped up by the Windows-maker from Sun Microsystems in 1992. Nadella joined the company as a Windows NT developer and from thereon, he rose in the ranks of Microsoft's divisions catering to businesses. In 2007, Nadella was appointed as the vice president of Microsoft’s research and development department. He was elevated as the president of the company’s server business in 2011, which accounted for $19 billion of the company’s revenue. In 2014, after being appointed as the CEO, one of his first moves was to acquire Nokia’s phone business for $7.2 billion – a move that would eventually falter. Under Nadella’s watch, Microsoft’s market capitalisation has surged over 5x – from $310 billion in 2014 to $1.76 trillion now. Nadella has remained with the Windows-maker for three decades now – or nearly two-thirds of the company’s history. The networth of Nadella is at ₹6,200 crore, according to IIFL Hurun India Rich List 2022. <cmsannotation type="cmsannotation" annotationid="Beyond Microsoft" comment="subhead" text="Beyond Microsoft">Beyond Microsoft</cmsannotation> Nadella’s life beyond Microsoft includes being a board trustee of University of Chicago and Fred Hutchinson Cancer Research Center. He is also on the board of Starbucks. Before being awarded the Padma Bhushan, Nadella was named on the Time 100 list in 2018, and businessperson of the year by Financial Times and Fortune magazine in 2019. Nadella also authored Hit Refresh, a book on his life and his leadership learnings at Microsoft, with Greg Shaw and Jill Tracie Nichols. <cmsannotation type="cmsannotation" annotationid="Other business leaders who’ve been honoured with Padma awards" comment="subhead" text="Other business leaders who’ve been honoured with Padma awards">Other business leaders who’ve been honoured with Padma awards</cmsannotation> The Indian government has awarded several business leaders with Padma awards. The list includes big names like Dr Cyrus Poonawalla, M&amp;M’s Anand Mahindra, TVS’ Venu Srinivasan, and Krishna Ella and Suchitra Ella, among others. Another notable person on the list is Ryuko Hira, a Japanese businessman who is known for playing a crucial role in bringing Japanese investments to India. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/indian-students-going-abroad-to-face-a-triple-whammy-of-inflation-forex-and-interest-rates/articleshow/94974003.cms">Indian students going abroad to face a triple whammy of inflation, forex and interest rates</a> <a href="https://www.businessinsider.in/business/corporates/news/adani-transmission-bags-project-from-best-to-install-over-1-million-smart-meters-in-mumbai/articleshow/94982223.cms">Adani Transmission bags project from BEST to install over 1 million smart meters in Mumbai</a> <a href="https://www.businessinsider.in/finance/news/rupee-hits-record-low-of-83-06-against-us-dollar/articleshow/94978753.cms">Rupee hits record low of 83.06 against US dollar</a>

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