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The Star
15 hours ago
- Business
- The Star
France's Capgemini to buy outsourcing firm WNS for $3.3 billion
FILE PHOTO: The logo of Capgemini is pictured during the Viva Tech start-up and technology summit in Paris, France, May 25, 2018. REUTERS/Charles Platiau/ File Photo (Reuters) -French IT services firm Capgemini has agreed to buy technology outsourcing company WNS for a cash payment of $3.3 billion to capitalize on their Agentic AI offerings for companies seeking to transform their business processes. The price translating to $76.50 per WNS share represents a 17% premium compared to the last closing price on July 3 and does not include India-based WNS's financial debt, Capgemini said on Monday. With this acquisition, Capgemini aims to create a consulting business service focused on guiding enterprises on how to reform their operations through Generative AI and Agentic AI, which it said would attract "significant" investments. "WNS brings ... its high growth, margin accretive and resilient Digital Business Process Services ... while further increasing our exposure to the US market," Capgemini CEO Aiman Ezzat said in the statement. WNS provides services including business process outsourcing and data analytics, and its customers include large organizations such as Coca-Cola, T-Mobile and United Airlines. Capgemini expects the deal to be immediately accretive to its revenue and operating margin, it said in a press statement. It said the transaction would increase its normalised earnings per share by 4% before synergies in 2026, and by 7% in 2027 post-synergies. Its financial guidance for this year was unchanged. (Reporting by Mateusz Rabiega in Gdansk, editing by Milla Nissi-Prussak)
Express Tribune
6 days ago
- Politics
- Express Tribune
New law in Kazakhstan restricts public wearing of face veils
A women, wearing a niqab despite a nationwide ban on the Islamic face veil, gives a phone call outside the courts in Meaux, east of Paris, September 22, 2011. REUTERS/Charles Platiau/Files Listen to article Kazakh President Kassym-Jomart Tokayev signed a law prohibiting individuals from wearing clothing in public places that covers their faces, joining a trend in several Central Asian countries to restrict forms of Islamic dress. The text of the law says clothing that "interferes with facial recognition" will be banned in public, with exemptions for medical purposes, in adverse weather conditions and at sporting and cultural events. The legislation, one in a series of wider amendments signed into law on Monday, does not explicitly mention religion or types of religious dress. Tokayev has previously praised the legislation as an opportunity to celebrate ethnic identity in Kazakhstan, a majority-Muslim country and former Soviet republic. "Rather than wearing face-concealing black robes, it's much better to wear clothes in the national style," he was quoted by Kazakh media as saying earlier this year. Read: Kyrgyz body backs ban on niqab "Our national clothes vividly emphasise our ethnic identity, so we need to popularise them comprehensively." Other Central Asian countries have introduced similar laws in recent years. Police in Kyrgyzstan have conducted street patrols to enforce their ban on the Islamic niqab face veil, according to local media reports. In Uzbekistan, violating the niqab statute carries a fine of over $250. Tajik President Emomali Rakhmon signed a ban on wearing clothing in public that is "alien to national culture."
Hindustan Times
21-06-2025
- Automotive
- Hindustan Times
Tesla set to debut in India with showrooms in Mumbai and Delhi: All you need to know about location and rent
Elon Musk's Tesla Inc. is reportedly gearing up to launch its first showrooms in India by July, marking the electric vehicle (EV) giant's formal entry into the world's third-largest automobile market. Tesla is reportedly set to open its first India showrooms this July. Here's what we know about their location and rent. (Representational photo) REUTERS/Charles Platiau/File Photo(REUTERS) Bloomberg quoted sources familiar with the matter as saying that Tesla's first batch of vehicles, Model Y rear-wheel drive SUVs, has already arrived in India. These units were shipped from the company's manufacturing facility in China. The Model Y is currently the world's best-selling electric car. The first showroom is expected to open in Mumbai by mid-July, followed by another in New Delhi, Bloomberg reported. Here's what we know about Tesla's upcoming showrooms in Mumbai and Delhi Tesla in Mumbai: Most expensive auto showroom deal in the country by far Tesla, has taken 4,000 sq ft of showroom space in India's costliest commercial district, Bandra Kurla Complex (BKC), in Mumbai, for ₹ 23.38 crore for five years, according to property registration documents accessed by CRE Matrix. The space has been taken on rent by Tesla along with two car parking spaces, and the per sq ft rent works out to be ₹ 881, the documents showed. The amount sets a national record in terms of lease rentals and makes it the most expensive auto showroom lease deal in the country by far, experts said. The documents show that the showroom space has been rented out in a commercial building named Maker Maxity on North Avenue. had reported on March 1 that the company had finalised showroom space in Mumbai's Maker Maxity in BKC, Mumbai, at a monthly rent of around ₹ 35 crore. The registration documents show that the transaction was registered on February 27, 2025, between Univco Properties LLP, the property owner, and Tesla India Motor and Energy Pvt Ltd. Documents show that the lease's tenure started on February 16, 2025, and the rent-free period is from February 16 to March 31. The rental for the lease deal is payable from April 2025 up to February 2030. The security deposit for the transaction is ₹ 2.11 crore, and the rental agreement has a 5% per month rent escalation clause on a per annum basis. According to the documents, the per month rent is ₹ 35.26 lakh, followed by ₹ 37.02 lakh in the second year, ₹ 38.88 lakh in the third year, ₹ 40.82 lakh in the fourth year, and ₹ 42.86 lakh in the fifth year. BKC is Mumbai's central business district (CBD) and a key hub for the Banking and Financial Services Industry (BFSI) and Fortune 500 companies. Tesla picks up managed office space in Mumbai Tesla has also secured 30 seats in a managed office space near Mumbai's Bandra Kurla Complex, the most expensive business district in India. According to sources, the space has a monthly rent of ₹ 3 lakh. The US-based EV firm has leased 30 seats in a co-working office located in Phoenix Market City with a rent of ₹ 3 lakh per month. The lease agreement is for a period of one year and comes with a three-month lock-in period, they said. This is a short-term lease that was executed between EFC and Tesla India Motor & Energy, sources said. They said that in its initial stages of establishment, Tesla has opted for the flexible workspace option to support its evolving needs. Tesla's dedicated vehicle service centre facility in Mumbai Elon Musk's Tesla India Motor and Energy Pvt Ltd has leased 24,565 sq ft of warehouse space at Lodha Logistics Park in Mumbai's Kurla area for a total rent of ₹ 24.38 crore for five years, according to property registration documents accessed by CRE Matrix. The new commercial space is in Kurla West, central Mumbai. The newly acquired 24,500 sq. ft facility, located in Macrotech Developers' Lodha Industrial and Logistics Park, will serve as a dedicated vehicle service centre, Tesla's first such facility in the country. The documents showed that the leased space includes two ground-floor units with a combined carpet area of over 18,000 sq ft and a chargeable area exceeding 24,000 sq ft. The starting monthly rent is over ₹ 37.53 lakh for the first year, with a 5% annual escalation, bringing the total rent over the five-year lease period to more than ₹ 24 crore. According to the documents, Tesla will pay ₹ 1.62 crore in common area maintenance charges over five years and has provided a security deposit of ₹ 2.25 crore. The lease agreement was registered on May 16, 2025. The license period begins on April 20, 2025, while the chargeable license period starts on June 1, 2025. Sources told that the per sq ft rent for this deal is around ₹ 218. This is also the first Grade A city warehousing facility suitable for automobile companies, quick commerce companies, and cloud kitchens. Also Read: Tesla leases 24,565 sq ft warehouse space in Mumbai's Kurla for over ₹ 24 crore for five years Elon Musk-owned Tesla is reportedly not keen on setting up manufacturing and production units in India. According to a statement from Union Minister for Heavy Industries HD Kumaraswamy, Tesla is only interested in expanding its showrooms in India. Tesla's Delhi showroom space update Sources said that the Delhi showroom space finalised by Tesla is around 4000 sq ft, and the rent is around ₹ 25 lakh per month. Sources said that Tesla has finalised the lease of showroom space in the Aerocity area located in a Brookfield property near New Delhi's Indira Gandhi International Airport (IGI). In April 2023, Bharti Enterprises Limited (BEL) transferred its 51% stake (held in Rostrum Realty) to Brookfield Group. In June 2024, Bharti Enterprises Limited (BEL) transferred its remaining stake (held in Rostrum Realty) to Brookfield India Real Estate Trust (sponsored by the Brookfield Group). Tesla could not be reached for a comment.
The Star
26-05-2025
- Business
- The Star
Capgemini and SAP partner with Mistral to deploy AI for sensitive sectors
The logo of Capgemini is pictured during the Viva Tech start-up and technology summit in Paris, France, May 25, 2018. REUTERS/Charles Platiau
Straits Times
16-05-2025
- Business
- Straits Times
EDF's protests against Czech nuclear energy deal affecting country's security, PM Fiala says
The logo of France's state-owned electricity company EDF is seen at La Defense business and financial district in Courbevoie, near Paris, France. May 16, 2018. REUTERS/Charles Platiau/File Photo PRAGUE - France's EDF is going very far in appeals against the Czech Republic's decision to pick South Korea's KHNP for a multi-billion dollar nuclear power project and is affecting the country's security, Czech Prime Minister Petr Fiala said. The Czech government has stepped up its rhetoric against EDF's challenge this month as it seeks to safeguard the country's largest ever energy investment, a key part of plans to replace coal and ageing nuclear units in the coming years. EDF won a Czech court injunction this month holding up signing of a final contract for the project costing $18 billion in today's prices, and is also complaining to the European Commission. "There is some logic in the unsuccessful bidder somehow defending itself," Fiala told Czech tabloid newspaper Blesk in an interview released on Friday. "I do not object to that, but I think that they are going very far in that defence and today it is already touching upon the security and strategic interests of the Czech Republic." Fiala added that any damage from delays should not be covered by Czech taxpayers, echoing comments from power utility CEZ which has said it would seek damages. "It certainly should not end with Czech citizens paying for the damages, so some further steps must follow," he said, without elaborating on what those steps might be. "Let's not get ahead of ourselves," he said. EDF has argued against the conduct of the tender and potential state aid to KHNP. The Czech government, CEZ - which ran the tender - and KHNP have rejected the complaints. The government and CEZ have insisted the KHNP offer was superior in price and timing guarantees to that of EDF. The two 1,063 megawatt reactors are to be built by 2036-2037 at CEZ's current nuclear site in Dukovany by EDU II, a company in which the government took an 80% stake from CEZ earlier this month. CEZ holds the remaining 20%. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
