Brookfield Strategic Real Estate Partners III, a fund managed by Canada's Brookfield Asset Management, signed an agreement to purchase luxury hotel brand Leela Palaces and Resorts Limited from the holding company Hotel Leela Venture. The deal includes four luxury hotels located at Delhi, Chennai, Bangalore, and Udaipur, a land parcel...
Ericsson to Increase AI Investments in India, Ramp Up Hiring
Swedish telecom gear maker Ericsson will increase its investment in Artificial Intelligence (AI) in India, Sweden, and the U.S. to enhance its managed service business. "It is super important for us that we increase AI investments and we are doubling down on India, Sweden, and Silicon Valley," said Peter Laurin,...
India's Titan Company Partners Watchmaker FTS USA
Fountain Hills, AZ-based watchmaker FTS USA entered into a strategic partnership with Bangalore-based Titan Company Limited, part of India's Tata Group conglomerate. FTS is the only commercial source for quartz watch movements made in the United States, its website says. Titan, the world's fifth-largest watchmaker that produces 16 million watches...
India’s Ola Electric Mobility Raises $56 Million
Bangalore, India -based Ola Electric Mobility Pvt. Ltd raised $56 million from existing investors New York City's Tiger Global Management and San Francisco's Matrix Partners' subsidiary in India. Ola Electric Mobility is a division of cab aggregator Ola which plans to launch 10,000 three-wheeled and other electric vehicles on Indian...
Saab Expands Ties with India's Aerospace Companies
A subsidiary of Saab AB, Sweden, Saab India Technologies Private Limited signed new Memorandums of Understanding (MoUs) with three Bangalore-bassed aerospace manufacturers: Dynamatic Technologies Limited, CIM Tools Private Limited, and Sansera Engineering Limited. The MoUs with CIM Tools and Sansera Engineering expand Saab's existing working relationships on commercial aerostructures for the...
Magellan Aerospace Launches Manufacturing Facility in India
Ontario, Canada-based Magellan Aerospace Corporation opened a new manufacturing and assembly unit in India. The 100,000 square foot Magellan Aerospace (India) Private Limited is located near the Bangalore International Airport. The plant will specialize in high speed milling and turning of aerostructure and aeroengine components produced from both aluminum and hard...