US Army pools contracts into up to $10 billion Palantir deal
The deal does not commit the Army to any new purchases, it said in a press release.
The Army said the goal of this consolidation was to shorten procurement timelines and remove contract-related fees so it can deploy data integration and artificial intelligence tools faster.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNA
10 minutes ago
- CNA
CNA Correspondent - Why the world can't quit the US despite the highest trade tariffs in decades
The US accounts for less than 15 percent of world trade but President Donald Trump has managed to force levies on America's biggest trading partners. Arnold Gay speaks to trade expert Deborah Elms, along with Leong Wai Kit and Toni Waterman, to understand why many countries caved to Mr Trump's demands.
Business Times
40 minutes ago
- Business Times
Vietnam's VinFast in talks to boost local sourcing as first India plant opens
[THOOTHUKUDI, India] Vietnamese electric vehicle maker VinFast is in talks with several component manufacturers as it looks to source more from India, the company's Asia CEO said on Monday (Aug 4). The firm is in discussions with several of its current component suppliers, and some want to shift part of their production to the industrial park in India, VinFast Asia CEO Pham Sanh Chau said on the sidelines of the inauguration of its Indian plant in the southern city of Thoothukudi. Global manufacturers are increasingly looking to diversify their supply chains by shifting production to India, as rising geopolitical tensions, trade restrictions, and cost pressures make China less attractive as a sole manufacturing base. 'We also have an inquiry from (a manufacturer in) Vietnam who would love to shift their plastic production to support our car,' he said, though he did not provide names of companies considering the shift. VinFast plans to roll out cars to showrooms in India later this month, he added. The pricing and exact launch date have not yet been disclosed. Last year, VinFast and Tamil Nadu state agreed to work towards an investment of up to US$2 billion, with an intended commitment of US$500 million for the first five years. The plant is expected to have an annual production capacity of up to 150,000 vehicles. Chau also said that the Indian plant had received orders from Sri Lanka, Nepal, Mauritius and these initial overseas orders were positioning the India facility to become an export-oriented manufacturing hub, though the firm's immediate focus remained on meeting demand from Indian customers. VinFast has set a global delivery target of 200,000 cars for 2025, having sold about 72,100 units in the first half of the year, primarily in its home market. REUTERS
Business Times
2 hours ago
- Business Times
Who is Ong Beng Seng, the tycoon involved in the Iswaran graft scandal?
[SINGAPORE] Ong Beng Seng, the billionaire property tycoon embroiled in the corruption case involving former transport minister S Iswaran and the Formula 1 night race, has pleaded guilty to abetting the obstruction of justice. A prominent business figure in Singapore, Ong is the founder and former managing director of Hotel Properties Ltd and is widely known for bringing the F1 night race into Singapore. Earlier in April 2025, he stepped down as managing director of HPL to tend to existing medical conditions relating to an incurable cancer. It was announced that he would also not seek re-election as a director at the company's annual general meeting on Apr 29. Ong was handed dual charges in relation to his involvement with Iswaran - who in 2024 was convicted of charges related to obtaining valuable items as a public servant and obstructing justice and sentenced to 12 months' jail. In October 2024, was charged with abetting offences under Section 165 of the Penal Code – which forbids public servants from accepting gifts from people involved with them in an official capacity – and with abetting the obstruction of justice. The first charge relates to flights and a hotel stay as Ong allegedly offered Iswaran a trip to Doha in December 2022 and arranged for his private jet to fly him there. The flight was worth US$7,700. The second charge was for allegedly instructing Singapore Grand Prix (GP) director Mok Chee Liang, in May 2023, to bill Iswaran for the business-class ticket from Doha to Singapore – which led to the obstruction of justice charge. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up On Monday (Aug 4), Ong, 79, admitted to the second charge. The other charge, for abetting an offence under Section 165, was taken into consideration for sentencing. The business magnate suffers from advanced multiple myeloma, which has damaged his immune system and makes him vulnerable to life-threatening infections. These are some things to know about him. Origins A Malaysian citizen, Ong moved to Singapore at a young age and has a degree in insurance. With a career in shipping insurance and oil trading, Ong made millions from accurately predicting the ups and downs of oil prices during his time at Kuo International - an oil trading company owned by his father-in-law Peter Fu Yun Siak. He joined the company in 1975, and the capital he earned during his time there allegedly helped finance his later investments and property development, laying the groundwork for the establishment of HPL. HPL empire In 1980, Ong founded HPL to buy the Hilton Singapore hotel for S$72 million, marking his venture into the property, hotel and retail sectors. The company swiftly acquired more hotels and properties, especially those located in the prime Orchard Road area. In 1982, HPL was listed in Singapore. The company is now a conglomerate with interests spanning hotel ownership, management and operations, property development, and investment holdings. As at December 2024, HPL's hotel division had interests in 41 hotels across 17 countries, including Bhutan, Indonesia, Japan, Italy, Malaysia, the Maldives, Singapore, the UK and the US, according to its 2024 annual report. Its properties operate under hospitality brands such as COMO Hotels & Resorts, Concorde Hotels, Four Seasons Hotels & Resorts, Hard Rock Hotels, IHG Hotels & Resorts, Marriott International, and Six Senses Hotels & Resorts. HPL's Singapore portfolio of prime commercial and retail properties comprise Forum The Shopping Mall and Concorde Shopping Mall. The group formerly owned seven units in Ming Arcade, which it agreed to sell for S$61 million in December 2022. In May 2022, HPL, in partnership with units of state investor Temasek, purchased the real estate assets of media giant Singapore Press Holdings (SPH) for S$2.8 billion. Another instance when Ong posed challenges for Singapore-listed companies was in partnership with Temasek-linked entities in his 2002-2003 bid for steelmaker NatSteel. The consortium, which also involved Temasek, narrowly won control of the company following a battle with Indonesian business tycoon Oei Hong Leong. Pioneering the F1 race in Singapore In 2008, Ong brought in the Formula 1 night race to Singapore. He owns the rights to the Singapore Grand Prix. Iswaran is also widely credited for playing a vital role in the country's bid to host the Grand Prix since 2008. As a junior trade minister then, he was involved in negotiations with parties such as HPL and then global F1 boss Bernie Ecclestone. In 2022, Ong secured an extension to host the F1 race through 2028, through his company Singapore GP - the race promoter for the Grand Prix - and Singapore's tourism agency. Personal life Ong is said to be a relatively private person. He has been married to prominent hotelier and businesswomen Christina Ong since 1972. Christina Ong runs Como Hotels & Resorts as well as the retail empire Club 21 and London-listed handbag maker Mulberry. The Ongs are one of the most influential couples in Singapore. They reportedly had a net worth of US$1.7 billion as at August 2022, according to Forbes estimates. As at mid-2022, they were said to be the 24th richest business persons in Singapore - months after HPL joined Temasek in buying SPH assets.
