Bangladesh to Secure Starlink Deal for Nationwide Internet Access

/in /tarafından

Bangladesh’s interim leader, Muhammad Yunus, announced on Tuesday that the country expects to finalize a commercial agreement with SpaceX’s satellite internet network, Starlink, within three months. The deal aims to provide reliable, uninterrupted internet services across the South Asian nation, ensuring that future political upheavals will not disrupt access.

Yunus, who took charge of Bangladesh’s government in August following the ouster of Prime Minister Sheikh Hasina, highlighted that Starlink’s satellite-based technology would make it impossible for any government to block internet access or restrict citizens from the digital world. This comes after widespread protests in July 2024, during which authorities suspended internet and text messaging services across the country.

“If Starlink is launched, no government will have the ability to shut down internet access or lock citizens out of the digital world,” Yunus stated in a televised speech ahead of Independence Day. He also noted that inflation remains the government’s top challenge, though it had dropped to 9.32% in February, the lowest in 22 months, with hopes of reducing it below 8% by June.

Yunus confirmed that national elections will be held between December 2025 and June 2026, aiming for the most free, fair, and acceptable election in Bangladesh’s history.

Schneider Electric to Invest Over $700 Million in U.S. to Support AI Growth and Energy Infrastructure

/in /tarafından

Schneider Electric announced on Tuesday plans to invest over $700 million in its U.S. operations over the next two years, focusing on strengthening energy infrastructure to support the AI boom, enhance domestic manufacturing, and improve energy security. The investment, slated to continue through 2027, comes amid ongoing tariff threats that could impact the French electrical equipment giant.

The U.S. government, under President Donald Trump, has imposed tariffs on a wide range of products, from aluminum and steel to pharmaceuticals and semiconductor chips. These tariffs have prompted many companies, including Eli Lilly and Apple, to boost their domestic manufacturing efforts. Schneider Electric aims to capitalize on this trend by expanding its facilities in Tennessee, Massachusetts, Texas, Missouri, Ohio, and North and South Carolina. The company also plans to create more than 1,000 new jobs as part of the investment.

In addition to the new $700 million, Schneider Electric has already committed $440 million since 2020 to enhance its U.S. supply chain. With these ongoing investments, the company’s total U.S. investment this decade is set to exceed $1 billion.

“We stand at an inflection point for the technology and industrial sectors in the U.S., driven by incredible AI growth and unprecedented energy demand,” said Aamir Paul, President of North America Operations for Schneider Electric.

Alibaba to Restart Hiring Amid Optimism, Cautions Against AI Investment Bubble in the U.S.

/in /tarafından

Alibaba Group Chairman Joe Tsai announced on Tuesday that the tech giant will resume hiring, fueled by increased confidence following a significant meeting between President Xi Jinping and major Chinese tech entrepreneurs in February. Tsai also expressed concerns about large-scale artificial intelligence (AI) investments in the U.S., suggesting they might signal the start of a bubble.

Tsai praised the rare meeting, which included Alibaba co-founder Jack Ma, marking a shift in Beijing’s approach to the tech sector. A regulatory crackdown on the industry several years ago had slowed growth, reduced investment, and led to layoffs. Tsai believes the meeting sent a clear message to the business community: it was time to reinvest and rehire employees.

After a decline in Alibaba’s workforce over the past 12 quarters, Tsai is optimistic that the company has hit rock bottom and plans to start rebuilding. China’s economy has faced several challenges, including slow growth and a real estate debt crisis, leading to job insecurity and weak consumer sentiment. However, Tsai emphasized that hiring would lead to greater job security and income growth, boosting business and consumer confidence.

Tsai also highlighted the success of DeepSeek, a Chinese startup disrupting the AI sector with affordable models, which has helped restore confidence in China’s tech industry. This success, alongside Alibaba’s significant investments in AI, will likely drive the need for more hiring in the sector.

While Alibaba is investing heavily in AI, Tsai expressed concern about the massive investments happening in the U.S. He referred to large investment figures, such as $500 billion, as unnecessary, suggesting that investments are being made ahead of actual demand. Tsai specifically voiced worries about speculative data center construction, seeing signs of a potential bubble in the U.S. market.

In comparison, Alibaba plans to invest 380 billion yuan ($52 billion) in its cloud computing and AI infrastructure over the next three years. The positive sentiment around China’s tech sector, boosted by Xi’s meeting and the success of companies like DeepSeek, has contributed to a 24% rise in Hong Kong’s Hang Seng Tech Index this year.