Latest news with #Munich
Forbes
13 hours ago
- Business
- Forbes
Siemens Energy's Demerged India Unit In Stock Exchange Debut, Falls 5%
The Siemens Energy logo on flags at a branch of the company in the Neuperlach district of Munich, ... More Germany (Photo: Matthias Balk) Siemens Energy's demerged Indian unit - Siemens Energy India Limited or 'SEIL' - made its stock exchange debut on Thursday, in a keenly watched emerging market move by the German vendor. The lucrative unit's demerger from its parent company saw it debut at a listing price of ₹2,840 ($32.85) per share on the National Stock Exchange of India, already up 14% on its stated discovery price of ₹2,478. Its demerger price was in the region of ₹2,350. At one point intraday, the stock rose as high as ₹2,982 given the company is expected to be India's largest listed pure-play power transmission and distribution equipment provider. However, at end of day's session the stock closed 5% lower at ₹2,735. SEIL has a firm foothold in India's lucrative and burgeoning, but extremely competitive, energy market. It supports the integration of renewable energy, modernization of the national grid, and decarbonization of key industries. As India pursues its officially stated goal of achieving net-zero emissions by 2070, SEIL said it would be part of the government's 'Make in India' initiative. The company is making what it describes as 'significant investments' in India in expanding its local manufacturing footprint, including an investment of ₹4.6 billion ($53.2 million) in its Kalwa Transformers facility. In addition, SEIL has launched a 'competency hub' to 'foster innovation in energy technologies and position India as a global innovation leader.' (Left to right) Tim Holt, member of the executive board and labour director, Siemens Energy, ... More Guilherme Mendonça, MD and CEO, Siemens Energy India Limited, and Harish Shekar, executive director & Chief Financial Officer, Siemens Energy India Limited ringing National Stock Exchange of India's ceremonial bell, joined by Ashish Chauhan, MD and CEO, National Stock Exchange of India, and Sunil Mathur, chairman of the board, Siemens Energy India Limited, during the listing of Siemens Energy India Limited on the National Stock Exchange on June 19, 2025/ Guilherme Mendonca, managing director and chief executive officer of SEIL, said: "With this listing we reaffirm our long-standing commitment to India's energy future. As India advances toward becoming a $7 trillion economy, a strong and resilient energy system will be essential. "Siemens Energy India Limited with its dedicated team is ready to support this important journey for India and its people.' Furthermore, the company which employs more than 4,000 professionals, has ten manufacturing sites and eleven regional offices, also serves neighboring countries in the South Asian subcontinent including Bhutan, Nepal, Sri Lanka and Maldives. SEIL's successful listing is also welcome news for Siemens itself and its Siemens Energy sub-unit from which the Indian unit demerged and listed on Thursday. Depending on the stock's performance, a substantial windfall may follow. As things stand, Siemens subsidiaries hold 69% in SEIL and the subsidiaries of Siemens Energy hold 6% in Siemens Energy India Limited, with the remainder in free float for retail and institutional investors alike. It is a marked contrast Siemens Energy's wind unit - Siemens Gamesa - which has been buffeted by operational headwinds and losses in the face of competition from Chinese rivals who often undercut it on prices, as acknowledged by CEO Christian Bruch last year. That unit posted another quarterly loss in April of €249 million ($285 million). Ironically, the figure included a loss from disposal of a majority stake of Siemens Gamesa's Indian (and Sri Lankan) wind business. That happened in March, when Siemens Gamesa divested 90% of the business to a TPG-led investor group, while retaining a 10% stake. The deal included transferring approximately 1,000 employees and two manufacturing plants in India to the new company. However, Siemens Energy, via Gamesa, will continue to support the new entity through a long-term technology licensing agreement.
Forbes
17 hours ago
- Business
- Forbes
JD Vance's Bluesky Suspension Was About Verification, Not Politics
US vice president JD Vance speaks during the 61st Munich Security Conference on February 14, 2025 ... More in Munich, Germany. (Photo by) Half an hour after Vice President JD Vance signed up for Bluesky on Wednesday afternoon, his account was suspended. It was shortly before 5 p.m. ET that Vance sent out his first post, writing, "Hello Bluesky, I've been told this app has become the place to go for common sense political discussion and analysis. So I'm thrilled to be here to engage with all of you." Soon after the account was suspended from the platform that has become a popular alternative to X, the social media formerly known as Twitter. It didn't take long for supporters of President Donald Trump and the vice president to cry foul, suggesting that a conservative voice was being silenced on Bluesky. Yet, as is all too often the case on social media, people jumped to conclusions before all the facts became clear. The only evidence that any politics were at play was that Bluesky has steadily attracted a liberal audience, including many who tuned out of X after tech billionaire Elon Musk purchased it. On Wednesday evening, Bluesky reinstated the account and issued a statement explaining the rationale behind the suspension. "Vice President Vance's account was briefly flagged by our automated systems that try to detect impersonation attempts which have targeted public figures like him in the past," Bluesky said in its statement. "The account was quickly restored and verified so people can easily confirm its authenticity." "We welcome the Vice President to join the conversation on Bluesky," the company added. Bluesky, which launched in February 2023 just months after Musk acquired the former Twitter, began to introduce a legacy-style verification system earlier this spring. By contrast, X now employs a subscription-based model for verification, replacing the legacy confirmation system that provided the famed blue checkmarks to the profiles of celebrities, journalists, civil servants, and other public figures. Critics have warned that the paid model has led to an increase in fake accounts and those impersonating celebrities and other individuals who are frequently in the spotlight. Moreover, Twitter had initially introduced its verification systems after former professional baseball player and manager Tony La Russa sued the platform for allowing unauthorized accounts run by impersonators to use his name and likeness. Yet, even after Bluesky reinstated the account for the vice president, many still believed it was a case of political bias. It serves as a reminder of the echo chamber that social media has become in recent years. The issue of fake and impostor accounts has been steadily growing, but it has gained momentum after X changed its verification process. Earlier this year, Academy Award-winning actress Sandra Bullock and actor Brad Pitt each announced that scammers and cybercriminals had set up fake social media accounts using their respective names and likenesses. Another issue has been "parody" accounts, which have been mistaken for official accounts on the platforms. That became a concern on X, to the point where Musk was forced to backpedal on his free speech absolutist ideals. In April, X announced that Parody, Commentary, and Fan accounts would be required to include "PCF-compliant keywords" to help distinguish them from official accounts, while PCF accounts were further told to avoid using identical avatars to help avoid confusion. The final twist to this story is that VP JD Vance was back on Bluesky. As of Thursday morning, he already has more than seven thousand followers. Yet, according to social media user tracker Clearsky, the account @ had also been blocked by more than 78,000 users. That also serves as a reminder that in echo chamber users are increasingly unwilling to welcome anyone from the other side of the political spectrum to the conversation.
Associated Press
17 hours ago
- Business
- Associated Press
Grid Dynamics to Unveil Robotic Inspection Solution at Automatica 2025
SAN RAMON, Calif.--(BUSINESS WIRE)--Jun 19, 2025-- Grid Dynamics Holdings, Inc. (Nasdaq: GDYN) (Grid Dynamics)—a leading provider of technology consulting, platform and product engineering, AI, and digital‑engagement services—today announced it will showcase its TPGen robotic solution at Automatica 2025, the world's leading event for smart automation and robotics taking place in Munich, Germany from June 24-27, 2025. The TPGen solution from Grid Dynamics, developed in collaboration with robotics industry partner Wandelbots, represents a major advancement in streamlining robotic inspection workflows for welding, gluing, and surface processing applications for manufacturers worldwide. Analyzing workpiece geometries, planning the scanning processes, and creating tool-paths are often a bottleneck in applications that involve robotic inspection of weld, seams, and surfaces. These steps might take significant time increasing both the time-to-market and the inspection costs. By eliminating the need for manual analysis and tool-path creation, TPGen enables manufacturers to reduce analysis and programming time, cut operational costs and overhead, lower energy consumption, and shorten time-to-market. The TPGen solution runs on top of Wandelbots' NOVA platform, offering an app for seamless and highly automated feasibility analysis, tool-path generation, and trajectory execution. 'TPGen represents a major shift in how manufacturers approach robot programming for inspection use cases,' said Ilya Katsov, CTO, Americas for Grid Dynamics. 'By automatically creating and optimizing tool-paths from CAD models and enabling truly automated workflows, we're helping our clients reduce analysis time from weeks to minutes while significantly lowering operational costs and energy consumption.' 'Wandelbots empowers partners and customers to transform robotic automation into intelligent, reusable, and scalable solutions,' said Katharina Jessa, Chief Revenue Officer at Wandelbots. 'TPGen by Grid Dynamics is a compelling example of what becomes possible with our platform — automating robot path planning for complex inspection tasks, drastically reducing engineering time and enabling flexible deployment across robot brands. It reflects the power of software-first innovation in solving high-impact industrial challenges.' TPGen capabilities include: Industry professionals and manufacturers interested in experiencing TPGen firsthand are invited to visit Grid Dynamics at Automatica 2025 at Wandelbots' Booth at B6.308. Live demonstrations will showcase the solution's capabilities across various inspection scenarios, highlighting its potential to transform manufacturing operations. Visit this page to learn more information about Grid Dynamics' smart manufacturing and robotics solutions. About Grid Dynamics Grid Dynamics (Nasdaq: GDYN) is a leading provider of technology consulting, platform and product engineering, AI, and digital engagement services. Fusing technical vision with business acumen, we solve the most pressing technical challenges and enable positive business outcomes for enterprise companies undergoing business transformation. A key differentiator for Grid Dynamics is our 8 years of experience and leadership in enterprise AI, supported by profound expertise and ongoing investment in data and ML platform engineering, cloud platform and product engineering, IoT and edge computing, and digital engagement services. Founded in 2006, Grid Dynamics is headquartered in Silicon Valley with offices across the Americas, Europe, and India. Follow us on LinkedIn. About Wandelbots Wandelbots empowers enterprises to transform industrial robotics into software-defined, continuously optimizing systems. With its unified platform - including the Wandelbots NOVA Cloud, the Developer Portal and the Wandelbots NOVA Operating System – manufacturing companies automate faster, optimize smarter, and scale global operations with confidence. For more information, visit and follow us on LinkedIn. Forward-Looking Statements This communication contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that are not historical facts, and involve risks and uncertainties that could cause actual results of Grid Dynamics to differ materially from those expected and projected. These forward-looking statements can be identified by the use of forward-looking terminology, including the words 'believes,' 'estimates,' 'anticipates,' 'expects,' 'intends,' 'plans,' 'may,' 'will,' 'potential,' 'projects,' 'predicts,' 'continue,' or 'should,' or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include, without limitation, quotations and statements regarding the expected benefits of our capabilities and our company's future growth including with customers, the TPGen Robotic Solution, and GigaCube strategy. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside Grid Dynamics' control and are difficult to predict. Factors that may cause such differences include, but are not limited to our ability to achieve its expected benefits, as well as any factors limiting our capabilities, the benefits of our services and products, and our company's growth strategy. Grid Dynamics cautions that the foregoing list of factors is not exclusive. Grid Dynamics cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Grid Dynamics does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based. Further information about factors that could materially affect Grid Dynamics, including its results of operations and financial condition, is set forth under the 'Risk Factors' section of Grid Dynamics' annual report on Form 10-K filed February 27, 2025, and in other periodic filings Grid Dynamics makes with the SEC. View source version on CONTACT: Grid Dynamics Cary Savas +1 (650) 523 5000 [email protected] Carrie Eyerly +49 351 86264000 [email protected] KEYWORD: GERMANY EUROPE UNITED STATES NORTH AMERICA CALIFORNIA INDUSTRY KEYWORD: SOFTWARE ELECTRONIC DESIGN AUTOMATION ARTIFICIAL INTELLIGENCE ROBOTICS ENGINEERING TECHNOLOGY IOT (INTERNET OF THINGS) MANUFACTURING SOURCE: Grid Dynamics Holdings, Inc. Copyright Business Wire 2025. PUB: 06/19/2025 09:15 AM/DISC: 06/19/2025 09:16 AM
Yahoo
17 hours ago
- Sport
- Yahoo
Former Bayern assistant coach Coordes dies at age 80
Former Bayern assistant coach Egon Coordes watches as second-division team FC Homburg knocks FC Bayern Munich out of the German DFB Cup in Munich's Olympic Stadium. Former Bundesliga player and coach Egon Coordes, who mainly made a name for himself as Bayern Munich assistant coach, has died at the age of 80, his family confirmed to dpa. Frank Mächler/dpa Former Bundesliga player and coach Egon Coordes, who mainly made a name for himself as Bayern Munich assistant coach, has died at the age of 80, his family confirmed to dpa. Coordes died after a long illness, with Kicker sports magazine reporting his death first. Advertisement Coordes played 157 Bundesliga matches for Werder Bremen. He was Bayern Munich assistant coach of Udo Lattek and Jupp Heynckes, helping them win four Bundesliga titles between 1985 and 1990. He later returned to Bayern twice, as assistant of Giovanni Tarapponi and part of Heynckes' staff, and also was part of the coaching staff of Bayern's basketball team. "FC Bayern owes a lot to Egon Coordes," Bayern president Herbert Hainer said in a statement. "He was never in the front row, yet he had a huge influence and played his part in the successes of the 1990s. Our thoughts are with his family. Egon Coordes will always have a special place in our memories at FC Bayern." Coordes' career as head coach was less successful, with terms at Stuttgart, SV Hamburg and Hanover as well as in charge of Iran's Olympic team and United Arab Emierates side Al-Ahly.
Zawya
21 hours ago
- Business
- Zawya
Saudia Cargo forges strategic global partnerships at Air Cargo Europe, expanding global reach
Munich, Germany: Saudia Cargo, the leading air cargo carrier in Saudi Arabia, announced the signing of two Global Logistics Partnership agreements with Scan Global Logistics (SGL), and Air Logistics Europe, marking a significant milestone in its strategic expansion and commitment to delivering unparalleled service. The agreements were formalized during Air Cargo Europe in Munich, Germany. The partnership with Scan Global Logistics (SGL), a dynamic Danish logistics company, provides SGL with priority access to Saudia Cargo's global network, ensuring efficient air cargo solutions and fostering collaboration. Similarly,. To further enhance its European presence, Saudia Cargo also signed an agreement with Air Logistics Europe to provide integrated and flexible air cargo solutions between the UK and Saudi Arabia. Loay Mashabi, CEO and Managing Director of Saudia Cargo, stated: "These strategic alliances are pivotal to Saudia Cargo's ambition to spearhead innovation and deliver unparalleled service in the global air cargo sector. By strategically leveraging the unique strengths of each partnership, we are poised to unlock new market opportunities, drive operational excellence, and create exceptional value for our customers worldwide." Driven by a modern fleet, a dedicated team, and a commitment to innovation, Saudia Cargo delivers reliable, efficient, and customer-centric solutions to meet evolving customer needs. This commitment is reflected in the company's strong performance, transporting 577,870 tons of cargo in 2024, representing a significant 27% year-over-year growth. About Saudia Cargo: Saudia Cargo stands as a leading national cargo carrier, headquartered in the Kingdom of Saudi Arabia. Leveraging the strategic advantage of the country's location, it serves as a highly efficient aerial bridge connecting the East and the West, seamlessly bridging continents. Our extensive reach encompasses approximately 100 airport destinations and 250 customer destinations across four continents, establishing us as a pivotal player in the global air cargo industry. With a legacy spanning over seven decades and a commitment to a 'human-first' approach, Saudia Cargo has consistently upheld its esteemed reputation as one of the world's most dynamic cargo carriers. This reputation is underpinned by a rich history of innovation and resilience. Our robust alliance with SkyTeam Cargo, the world's largest consortium of air cargo carriers, connects us to an impressive network of 150 freighter destinations in addition to nearly 800 passenger destinations worldwide. Saudia Cargo's access to a modern fleet of Boeing freighter aircraft expedites the transportation of diverse cargo types, including e-commerce, pharmaceuticals, high-value shipments, hazardous materials, and perishables. The company's enduring dedication to humanity, reliability, and agility has been instrumental in driving its remarkable growth trajectory, which continues to expand significantly. For further information, please visit
