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Optiemus Unmanned Systems launches four advanced drones

Optiemus Unmanned Systems launches four advanced drones

Partners with Taiwan-based Avix Technology to jointly develop drone components in India
Optiemus Unmanned Systems (OUS), a wholly owned subsidiary of Optiemus Infracom today announced the launch of four advanced drones. The drones - Marak VT100, Vajra QC55, Canister Launched Loitering Munition and First Person View (FPV) drones with optical fiber cable-based navigation capability- showcase the latest in unmanned aerial technology by providing solutions for a wide range of defense, surveillance, and reconnaissance operations. These drones are being showcased at the Milipol India Exhibition 2025 at the Yashobhoomi Convention Centre, New Delhi.
In line with the vision of Make in India, OUS has also forged a partnership with Avix Technology, a Taiwan-based renowned drone developer and component manufacturer, to jointly develop, manufacture, and assemble high-performance camera systems, gimbals, and related drone components in India to meet the specific needs of the Indian defense and related sectors. Avix's deep expertise in UAV design, particularly in remote-controlled helicopters and UAV electronics, brings advanced capabilities to the forefront of Indian technology development.

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China's Bankers Ditch Global Hotel Chains as Travel Budgets Bite
China's Bankers Ditch Global Hotel Chains as Travel Budgets Bite

Mint

timean hour ago

  • Mint

China's Bankers Ditch Global Hotel Chains as Travel Budgets Bite

(Bloomberg) -- These days, Shanghai-based banker Jason Zhang can no longer stay at the Westin hotel in downtown Beijing's financial district after his company cut its travel budget. Instead, he had to settle for a cheaper domestic hotel chain. To his surprise, the discount in room rate didn't lead to a discount in experience. Yes, the expansive breakfast buffet is gone, but Zhang relishes the local dishes served at the domestic chain Atour. Its pillows and comforters are so popular that many guests buy them after checking out. There's no scramble to pack and leave in the morning as checkout can wait until 6 p.m. Zhang is not alone in switching hotels. Chinese banks have scaled back travel perks since last year, barring staff from flying business class and booking pricey hotels, as China's economy slows and companies tighten their purse strings. And while it's making things tough for the top-end international brands, the greater financial prudence has opened up opportunities for smaller local chains that focus on the needs of business travelers. While spending on work-related travel in China slowed in 2024, it still grew to a record $372.5 billion, according to market researcher China Trading Desk. But much of the growth is being captured by hotels offering modest accommodation rather than the luxury end of the spectrum. Mid-range local brands could expand their market share from 45% in 2023 to up to 75% by 2028, the consultancy says. That's giving domestic chains a boost. Atour Lifestyle Holdings Ltd posted record revenue growth of 55.3% to 7.25 billion yuan ($1 billion), thanks in part to sales of its pillows and comforters. Another hotel chain H World Group Ltd saw revenue jump almost 10% year on year. This is in contrast to the major international brands, which are struggling in the Greater China region compared to the rest of the world. InterContinental Hotels Group Plc saw room revenue for business trips in the region decrease 5%, compared with a 2% increase globally. Hilton Worldwide Holdings Inc. says its revenue per room in Asia Pacific was flat, dragged down by China. Marriott International Inc. also saw its Greater China revenue decline, citing weaker domestic demand. 'The primary driver behind this transformation is corporate cost-cutting measures,' said Subramania Bhatt, chief executive officer of China Trading Desk. 'Beyond price, local brands have developed several competitive edges that appeal to business travelers.' While tighter travel budgets are a key reason some are switching hotel brands, it's only part of the story. Local chains unable to match international five-star chains in prestige and glamor are trying to make up in other ways. Yongbin Xu, a director at a private fund management company in Shanghai, used to stay at Marriott or Shangri-La hotels on work trips but has now switched to Intercity, an upper mid-scale brand operated by H World Group. He made the change not because of corporate cutbacks, but because he likes the location and service of Intercity hotels. A room at a Shangri-La or Marriott hotel in Shenzhen costs between 1000 yuan and 1200 yuan per night, while Intercity charges around 700 yuan for a room in the central business district. 'Of course, those hotels sacrifice some services, but for business trips, I don't have time to use the swimming pool or other high-end services,' said Xu. Xu's favorite service at H World: Robots that help ferry food deliveries from the hotel entrance to his room upstairs, whereas international brands ask guests to go all the way down to the entrance to pick them up themselves. Another perk that has won over many local travelers is free laundry, either through self-service washing machines or through a pick-up service. By contrast, it normally costs from 30 to 100 yuan per item for laundry services in the five-star hotels in Beijing and Shanghai. Local chains have also sought to gain an advantage over their larger rivals by the strength of their mobile apps, through which guests can access a broad array of services, such as selecting your own room or requesting more water, without having to speak to reception. While Chinese domestic hotel brands have become more competitive, they also face a number of challenges, including rising operational expenses and cut-throat price competition due to the surge in the supply of rooms in smaller hotels, guesthouses and home-rental apps in the country. By the end of 2024, the number of hotels in China had risen to 348,700, with 17.6 million rooms, both record highs, according to a report by the China Hotel Association. This weighed on the average room rate for both domestic and international brands, which declined between 2% and 7% last year. And prices may face even greater pressure in the coming years as the major chains keep expanding to meet rising demand from Chinese travelers. 'The downward trend in hotel prices and profits will continue this year due to oversupply, increasing the risk of investing in new hotels,' said Zhao Huanyan, a Shanghai-based independent hospitality industry consultant. Despite stronger sales, H World Group saw its profit decline last year due to expenditure on renovation and service upgrades. For Atour, its breakneck expansion appears to have led to a lapse in quality control. The pillow cases at one of its hotels in Hangzhou were found out to be ones meant for a hospital, sparking widespread media and online scrutiny. 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10 mid-tier IT companies join $1 billion club in last 5 years
10 mid-tier IT companies join $1 billion club in last 5 years

Time of India

timean hour ago

  • Time of India

10 mid-tier IT companies join $1 billion club in last 5 years

Bengaluru: Call it the mid-tier IT firm's breakout moment. Over the past decade, 15 companies crossed the $1 billion revenue mark—10 of them in just the last five years, with several more on the cusp. This marks a structural shift in the mid-tier segment, packing a bigger punch. Take Coforge, for instance. It aims to achieve a revenue milestone of $2 billion by fiscal 2027. The company surpassed $1 billion in revenue during the financial year 2022-23, demonstrating a year-on-year growth of 22.4% in constant currency terms. Digital engineering company Nagarro's revenue crossed $1 billion in the 2023 financial year, up from $908 million in the corresponding period last year. Nagarro follows a January to December financial year. The company recorded a growth of 9.4% in constant currency in 2023. Of Nagarro's 18,000 employees, 12,000 are based in India across 12 cities. While these companies were growth-ready, former Cognizant India CMD Ramkumar Ramamoorthy, in a LinkedIn post, said three powerful forces have redefined their trajectory. Seasoned leaders from tier-1 firms brought strategic clarity, global perspective, and execution muscle—sharpening the edge of mid-tier companies. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với mức chênh lệch giá thấp nhất IC Markets Đăng ký Undo Private equity as a growth engine and an imbibed long-term value mindset accelerated transformation and scaling ambitions. Mid-tier players rapidly built and scaled advanced digital capabilities—closely aligned with evolving client expectations. Ramamoorthy said, "One of the best things that happened to Indian IT after Y2K is senior management attrition. Seasoned leaders who built and ran large portfolios in IT companies such as Cognizant, Infosys, and HCL took on CXO roles in mid-sized firms and built the much-needed muscles to gracefully scale these companies. With more such leaders being made available today, in the years to come, we should see a larger number of companies get past the magical $1 billion in revenue, ably compete with Tier-1 players, and catalyse growth. " He is also a partner in tech growth advisory firm Catalincs. In the last four months, nearly a dozen mid-sized firms saw top deck changes. LTIMindtree welcomed Venu Lambu as their new chief executive, while Virtusa brought in Nitin Banga from Global Logic to lead as their CEO. Rohit Kedia, who brings 28 years of experience in technology and digital engineering, was appointed CEO at ChrysCapital-owned digital engineering company Xoriant. He previously served as chief growth officer at LTIMindtree. Engineering services firm Cyient appointed Sukamal Banerjee as CEO of its DET (digital, engineering and technology) business. "Also, with dozens of PE firms making a beeline for the IT industry, the investee companies are a big draw for these leaders not only for CXO roles but also for Board positions. These firms bring in global best practices across all aspects of business—people, process, platforms, partnerships, among others—which also helps fast-track the journey to a billion dollars and more." Peter Bendor-Samuel, founder and chairman of US-based IT advisory Everest Group, said, "However, perhaps the most important factor has been the PE firm's ability to change the mindset of these firms and attract some of the industry's most capable executives to run them. The combination of first-rate executives, acquisitions, and focused investments in sales and marketing has proven a sure-fire recipe to drive highly profitable and fast growth. " These shifts have repositioned mid-tier companies as credible contenders, not just fast followers—rewriting what growth looks like in the industry's next chapter.

Harvard may get some of its funding back. But on one condition, says Education Secretary
Harvard may get some of its funding back. But on one condition, says Education Secretary

Hindustan Times

timean hour ago

  • Hindustan Times

Harvard may get some of its funding back. But on one condition, says Education Secretary

Education Secretary Linda McMahon said on Tuesday that Harvard and other universities could get back some of the federal funding cut by the Trump administration if they changed their policies. 'It would be my goal that if colleges and universities are abiding by the laws of the United States and doing what we expect of them, that they can expect taxpayer funded programs,' the secretary said at a Bloomberg News event. McMahon said that the Trump administration was "making progress in some of the discussions" with Harvard, despite the ongoing legal battles. The secretary emphasised that the federal funding has a role to play in academic research at the universities. 'I think if we look at our research as for the public good, which I think is intended, then taxpayers are willing to see their tax dollars to support that kind of really good research. And so I'm sure that would continue at the university level,' she said. President Donald Trump has frozen more than $2.6 billion in federal research funding to Harvard and has moved to cancel its federal contracts. The Trump administration justified the actions as part of its effort to eliminate antisemitism on campus. Meanwhile, Harvard has also taken the fight to the court with two lawsuits against the Trump administration, challenging both the loss of federal funding and a decision by the Department of Homeland Security to revoke its license to enrol foreign students. The administration reportedly also asked the university to share its records about misconduct by international students on campus. However, it said that the college has not offered enough information to satisfy their requests. The Trump administration and Harvard have been at loggerheads, with the President repeatedly singling out the institution and taking aim at its perceived left-leaning and admission practices. Trump has proposed that Harvard's federal funding be moved to trade schools and called for its tax-exempt status to be removed. President Donald Trump recently said that the Massachusetts-based school was "starting to behave". Meanwhile, Harvard has rejected the administration's demands that it implement "viewpoint diversity" on campus in its hiring and admission practices. Columbia University has also lost about $400 million in federal funds and did not sign onto the "friend of the court" argument. Other private colleges, including Cornell University, Princeton University and Northwestern University, also have seen funding revoked in the Trump era.

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