Singapore on Thursday announced a new work visa for foreign executives of technology firms, a sector the low-tax global business hub hopes will power future economic growth.

Under the Tech.Pass programme launching in January, up to 500 experienced executives can apply for the two-year visas, which allow participants to operate a business, invest in or become a director in Singapore-based companies, and mentor start-ups.

“Tech. Pass will add to the critical mass of established tech talent in Singapore and create a flywheel effect to further strengthen our position as a leading tech hub for the region,” trade minister Chan Chun Sing said, announcing the programme.

Armed with lucrative grants and incentives, Singapore has in recent years been ramping up its efforts to lure tech firms and investors, including global players like Facebook, Alphabet's Google, and Chinese tech giants like Tencent and Alibaba. 

Applicants for the new visa - aimed at attracting “founders, leaders and technical experts” - must meet criteria that can include a previous monthly salary of at least $20,000, five years’ experience in a leading role in the tech industry, or experience in developing a successful tech product.

The move comes as unemployment in the city-state has hit a 16-year high because of the coronavirus pandemic, raising local fears about competition with foreign workers.

Authorities have imposed tighter immigration curbs more broadly, and encouraged firms to lay off foreign workers first, but also said it must remain open to overseas talent.

Source: reuters

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 Huawei founder Ren Zhengfei on Tuesday Spoke with Chinese Media and said the United States underestimates the telecom giant's strength. Speaking days after orders were issued by the U.S President Donald Trump to ban the company from doing business with U.S based corporations like Google, Intel and Qualcomm. "The current practice of US politicians underestimates our strength," Ren said, according to transcripts from state-run media.

"Huawei's 5G will absolutely not be affected. In terms of 5G technologies, others won't be able to catch up with Huawei in two or three years," he said.

Last week, Trump signed an executive order which blacklisted companies seen as "an unacceptable risk to the national security of the United States" - a move which was clearly aimed at Huawei. At the same time the US Commerce Department announced an effective ban on American companies selling or transferring US technology to Huawei, causing companies like Google to cut ties with Huawei. This move could cost arms and legs to the company as most of the devices in the world is powered by Google’s Android Operating System.

"The US 90-day temporary licence does not have much impact on us, we are ready," Ren said. After Commerce Department on Monday issued a 90-day lift on the ban by allowing temporary licences.

Ren said Huawei and Google are discussing how to respond to the ban, calling the US firm a "highly responsible company" and has asked the customers to stay at ease.

Another Company Spokesmen in Australia stated US actions "will not impact consumers" owning the device or planning to own one in the future.

News Source: AFP

 

 

 

  

Kevin Mayer has quit as CEO of TikTok as the Chinese-owned video sharing app faces enormous backlash from President Donald Trump.

"In recent weeks, as the political environment has sharply changed, I have done significant reflection on what the corporate structural changes will require, and what it means for the global role I signed up for," Mayer said in a memo to employees that was obtained by CNN Business. "Against this backdrop, and as we expect to reach a resolution very soon, it is with a heavy heart that I wanted to let you all know that I have decided to leave the company."

"We appreciate that the political dynamics of the last few months have significantly changed what the scope of Kevin's role would be going forward, and fully respect his decision," a TikTok spokesperson said in a statement.

TikTok hired Mayer, a former top Disney executive, less than four months ago. The move appeared to be designed to bolster the app's American credentials and improve its standing with US regulators.

Since then, though, it has come under fire from the US government, and Trump has threatened to ban the app.

source:cnn

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Ahead of the launch of its new smartphone, the OnePlus 8T, the company's co-founder, Carl Pei has announced that he is leaving the company. The news comes as not only a shock to millions of OnePlus fans this morning but also as the biggest shake-up at OnePlus since it was first started 7 years ago.

The news comes courtesy of a leaked post by Reddit user, JonSigur, who has reportedly published alleged screenshots of internal memos at OnePlus which reveal the information. While the memos don't reveal Pei's next destination, it does claim to reveal a leadership change at the company.

The memos note Emily Dai, who is currently in charge of the company's operations in India, will be appointed as the head of the Nord product line globally. This is interesting as Pei was previously in charge of the Nord phone series.

In a separate article published on its website, Tech Crunch appears to have confirmed the news by claiming to sources close to the matter have confirmed to it that Pei is indeed leaving the company. At the time of writing Android has also published a story corroborating the news that Pei has left OnePlus.

While it remains unknown if Pei's departure from the company was on mutual terms, reports suggest that he could have indeed been fired. However, this could also be pure speculation with more on the matter expected to be revealed in the coming days.

Source:indiatoday

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