Brazilian board members of Portugal Telecom quit over debt buy: paper

Shares of Oi and Portugal Telecom tumble as analysts warn of potential credit risk


SAO PAULO (Reuters) - Two Brazilian board members of Portugal Telecom resigned after learning of 897 million euros ($1.22 billion) of short-term investments the company made without consulting them, newspaper Valor Economico reported on Wednesday.

The Portuguese company invested in debt issued by Rioforte, a firm controlled by the owners of Espirito Santo Group, which is a major shareholder in Portugal Telecom.

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Kore and Robustel unveil M2M Starter Kit

Kore Wireless and Robustel Technologies have formed a partnership aimed at developing a new range of industrial M2M solutions.

Robustel (Guangzhou, China), which provides cellular and Wi-Fi gateways for M2M services, says the partnership with Kore (Alpharetta, GA, USA) – an MVNO – will allow it to include optional device connectivity for a range of products.

The companies plan to unveil an M2M Starter Kit combining their products later this month.

China demands explanation from US on Huawei spying report


China wants a clear explanation from Washington over a report that the U.S. National Security Agency infiltrated servers at the headquarters of telecoms giant Huawei Technologies Co., a Chinese foreign ministry spokesman said on Monday.

Hong Lei, the spokesman, said China was "extremely concerned" about the spying allegations.

"Recently, the international media has put out a lot of reports about the eavesdropping, surveillance and stealing of secrets by the United States of other countries, including China," he told a regular briefing.

Indian medical electronics market will be worth $11.7 billion in 2017: Frost & Sullivan

Valued at $6.5 billion in 2013, India’s medical electronics market will grow to be worth as much as $11.7 billion by 2017, according to new research from Frost & Sullivan.

The market-research company expects the Indian market to receive a boost from a combination of factors, including the burgeoning population and higher middle-class incomes.

Government schemes to provide basic healthcare facilities in rural parts of India have also driven the adoption of medical equipment based on a convergence of electronics, IT and telecoms.

ID Systems wins $935,000 remote-monitoring contract in China

Remote-monitoring specialist ID Systems says it has received a purchase order worth $935,000 from a Chinese customer that is one of the world’s biggest consumer packaged goods companies.

ID Systems (Woodcliff Lake, NJ, USA) did not disclose the identity of the Chinese customer, but said the contract will see it deploy its PowerFleet wireless vehicle management system on fleets of industrial trucks at three of the company’s Chinese facilities.

It also indicated the company in question was a “long-time ID Systems customer”.

China smart grid set to get smarter: ABI Research

Although some 200 million new electricity meters have been installed across China since the turn of the decade, only about a quarter of these are equipped with the bi-directional technology that facilitates “true” smart meter capabilities, like demand response.

Indeed, rollouts by China’s State Grid Corporation of China (Beijing) and Southern Grid Utilities (Guangzhou) have seen the introduction of both unconnected meters and ones that support only single-direction communications.

Borg Energy to spend $45 million in India

Solar energy company Borg Energy has announced plans to invest $45 million in rural electrification projects in India within the next six months.

The rollout is to include smart-grid technology that will “empower domestic consumers and agriculturists”, according to the company.

In a statement, Borg Energy (Chennai, India) said it planned to power 18,000 homes in northern India in the next 150 days with Borg Astra Plus Home Series – a range of solar power plants designed specifically to meet the energy needs of domestic households.

CG invests $1.3 million in Indian smart-grid facility

Avantha Group subsidiary Crompton Greaves (CG) has invested INR80 million ($1.3 million) in a new smart-grid facility in Bangalore whose main purpose will be to manufacture a range of smart-grid devices for use by Indian utilities.

The facility, which employs more than 100 people, will also offer engineering services – such as systems integration, installation and commissioning – to companies across the world.

Toshiba completes $200 million Vijai Electricals acquisition

Japan’s Toshiba says it has completed its acquisition of power transmission and distribution assets previously owned by Indian manufacturer Vijai Electricals.

Toshiba (Tokyo, Japan) had first announced takeover plans regarding Vijai (Hyderabad, India) in September 2013, revealing that it would pay about $200 million for the Indian company’s energy businesses, which include power transformer, distribution transformers and switchgear assets.

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