Google to build biggest campus
outside US in Hyderabad
Google will set up its first a campus in Asia in
Hyderabad — its biggest outside the United States — at
an investment of Rs 10 billion ($157.34 million). This will
double its headcount in India to 13,000 employees over
the next four years.
A memorandum of understanding in this regard was
signed between the Telangana government and the
Internet giant during Telangana information Technology
Minister K T Rama Rao’s visit to the US.
TCS among top US 500 brands
Tata Consultancy Services, the information technology
arm of the Tata Group, has been ranked 57th in valuation
firm Brand Finance’s latest list of the top 500 brands in
the United States. TCS’s brand value has jumped nearly
four times in the last five years to touch $8.7 billion now.
This is TCS’ debut on the list.
How 46 million Indians are being
‘Around 46 million people in India — or the size of the
population of Spain — are exposed everyday to contami-
nated water, which could lead to serious health issues
such as crippling skeletal damage, kidney degeneration,
cirrhosis of the liver and cardiac arrest,’ an
IndiaSpend.com report said.
The report found water from as many as 78,508 rural
habitations is contaminated by arsenic, fluoride, iron or
nitrate. Pesticides and fertilizers also contaminate potable
water sources, according to data released by the ministry
of drinking water and sanitation. It said arsenic poisons
the water in 1,991 of these habitations, home to nearly 2.9
million people, and fluoride poisons another 14,132 habi-
India’s biggest corporate scamster
Erstwhile Satyam Computer Services chairman
B Ramalinga Raju, his brother and former managing
director B Rama Raju, and eight others who were
convicted in a multi-crore accounting fraud at the infor-
mation technology company, were released from the
Cherlapally Central Jail May 13 after furnishing personal
bonds and sureties.
A metropolitan sessions court in Andhra Pradesh granted them bail to them May 11.
K V Kamath to head BRICS bank
India has named private banker K V Kamath as the first
head of a new development bank being set up by the
BRICS group of emerging market economies. The BRICS
— Brazil, Russia, India, China and South Africa — agreed
to set up the $100 billion development bank last July, in a
step toward reshaping the Western-dominated interna-
tional financial system. It was agreed that the New
Development Bank, which will fund infrastructure proj-
ects in developing nations, would be based in Shanghai. It
would be headed by an Indian for a first five-year term,
followed by a Brazilian and then a Russian.
Kamath, 67, is a veteran banker who was credited with
developing ICICI Bank into India’s second-largest lender.
He headed the bank for 13 years until 2009. He is now
Infosys’s non-executive chairman.
the week that was
Nikesh Arora named president of SoftBank
In a management reshuffle, SoftBank May 11, appointed investments head Nikesh Arora as president and named him as a
potential successor to chief executive officer Masayoshi Son. The
move comes as Son and SoftBank are battling to make their 2013
acquisition of United States carrier Sprint Corp for more than
$20 billion profitable.
Arora was hired in July 2014 to run a newly created unit called
SoftBank Internet and Media Inc, reporting directly to Son. He
had previously been one of the most powerful Google executives,
and the highest paid in 2012 when he made $51 million in cash
Since joining SoftBank, Arora has overseen investments into
Indian technology start-ups Snapdeal, Ola Cabs
and Housing.com, with the company planning to invest $10 billion in India’s potentially huge but under-developed online retail
ISSEI KATO/REU TERS
Masayoshi Son, chief executive officer, SoftBank Corp, speaks at a news conference as the screen shows a picture of Nikesh Arora, former Google chief business officer and current SoftBank vice chairman, in Tokyo May 11. Son announced Arora’s rise at SoftBank that day.
You Tube’s engineering chief, dies
Venkat Panchapakesan, the Google vice-president who helmed
engineering for You Tube, died May 11 after a battle with cancer.
Before joining Google in 2010, Panchapakesan had done a brief
stint as entrepreneur-in-residence at Greylock Partners. This was
preceded by over a decade’s experience at Yahoo.
Susan Wojcicki, chief executive officer You Tube, said in a state-
ment, ‘Venkat was a deeply admired leader of our engineering team
and we are extremely saddened by his passing. He was loved by the
people who worked with him and will be missed by everyone who
knew him. Our thoughts are with his family during this difficult
Panchapakesan is survived by his wife Sandy and two children.