Ceo thomas nieto

Share to Twitter Share to Linkedin While the chief executive officer is in charge of big-picture business decisions, in today’s tech-driven economy, a CEO depends a lot on their chief information officer. With their in-depth knowledge of technology and how it can help achieve business goals, CIOs have been seeing their role and influence grow across industries. From tapping into their tech knowledge to leveraging their understanding of digital risk, a CEO can learn a lot from a CIO. Below, 14 members of Forbes Technology Council share important qualities, skills and expertise today’s CEOs need from their CIOs, and why. 1. Knowledge Of ‘How Everything Connects’ CIOs need to understand the business, the market, the competition and the customers to the same degree as the CEO. Technology is now driving many elements in the market, and it is important to make the right decision at the right time for any technology initiative. Understanding “how everything … [Read more...] about 14 Things Today’s CEOs Require From Their CIOs

Artificial intelligence is making headlines again, with Google releasing a rival to OpenAI’s ChatGPT called "Bard" to early testers. The company's new conversational AI service will be released to the public “in the coming weeks” after being tested by trusted testers for feedback, Alphabet CEO Sundar Pichai said in a blog post . The technology aims to generate detailed answers when given simple prompts. Pichai also said Google plans to add AI-powered features to its search engine that synthesize information to answer complex queries like whether a guitar or the piano is easier to learn to play. Separately, Microsoft plans to hold an event today at its headquarters. The company didn’t disclose the content of the event, but speculation has centered on the company’s bets on artificial intelligence, including adding OpenAI’s ChatGPT bot into its Bing search engine. Bing currently has about a 9% share of the global search market. Last month, Microsoft said it was making a … [Read more...] about Alphabet and Microsoft Push New AI Features

KEY TAKEAWAYS The U.S. savings rate has plunged, and 401(k) accounts have declined as loans and hardship withdrawals exacerbate market losses. With interest rates rising, consumers appear less likely to borrow money in 2023. As a result, the recent decline in consumer spending may persist. Last year, the highest U.S. inflation in 40 years had an entirely unsurprising effect: shrinking the amount of cash in Americans' pockets—and portending challenges for consumer spending in 2023. From tapping their savings to dipping into their retirement accounts, Americans increasingly scrambled for money as the cost of living soared and the Federal Reserve's interest rate hikes, designed to lower inflation, raised borrowing costs. Nearly half of Americans said they have less savings than they did a year ago, according to a recent Quinnipiac University poll. As cash savings fell, so did retirement accounts: The number of 401(k) retirement participants taking out loans from their … [Read more...] about Cash-Strapped Americans Increasingly Tap Savings, Retirement Accounts

MANILA, Philippines—The Malampaya deep water gas-to-power project has remitted $13 billion to the national government since inception, the operator of the gas field said on Wednesday (Feb. 8). “The SC (service contract) 38 has generated and remitted to the Philippine government some $13 billion since its inception,” said Prime Infrastructure Capital Inc. (Prime Infra) president and CEO Guillaume Lucci at the Powertrends International Business Forum held on Wednesday. The Malampaya gas field is operated through SC 38 granted to the consortium of Prime Energy Resources Development B.V. (Prime Energy)—a subsidiary of Razon-led Prime Infra—UC38LLC and state firm Philippine National Oil Company-Exploration Corp. (PNOC-EC). Lucci said the consortium remains committed to ensuring gas supply from the depleting Malampaya gas field. “We’re here to stay, we’re here to invest, we’re here to increase dramatically the gas production with the extended term of the service contract and resource … [Read more...] about Malampaya contribution to gov’t revenue: $13B

As it happens with most new advancements of technology, a discussion and a debate is emerging on what AI can or can’t do. (Representative image) On February 6, Sundar Pichai, CEO of tech behemoth Google and Alphabet announced ‘Bard’ , their experimental AI service. Google’s response comes nearly three months after a hitherto lesser-known company, OpenAI , announced ‘ ChatGPT ’ to the world. The last three months has seen a flurry of activity as an excited world embraced the tool, making it compose prose and poetry and figuring out how far it could go. Tech pundits even began to write articles that ChatGPT would be a great addition, but the company had to figure out how to make money. Even before the ink could dry on those articles, Microsoft announced Microsoft Teams Premium that featured services by OpenAI’s GPT-3.5, hoping to make their online meeting and collaboration tool much more intelligent. Three Key Impacts As it happens with most new advancements of … [Read more...] about Are we ready for AI that knocks out jobs, fuels disinformation, and is difficult to regulate?

Market-linked debentures are listed securities and are currently being taxed as long-term capital gain (LTCG) at the rate of 10% without indexation. The Union Budget for 2023-24 on February 1 has said that the capital gains on market-linked debentures (MLDs) will now be taxed as short-term capital gains, a blow to high net-worth individuals and family offices. High net-worth individuals tend to pick MLDs, given the tax treatment they attract. Market-linked debentures are listed securities and at present, are being taxed as long-term capital gain (LTCG) at the rate of 10 percent without indexation. Also read | Rs 7-lakh tax-free income limit, how does that play out for you? But according to the government, these securities are in the nature of derivatives, which are normally taxed at applicable rates. Further, they give variable interests as they are linked with the performance of the market. “One of the positive aspects of the Budget was to deal a body blow to … [Read more...] about Budget 2023 deals a body blow to market-linked debentures

Use tax planning to achieve your financial goals The gradual move towards a new, simplified tax system has been on the horizon of the government since the new tax regime was first introduced under the Union Budget 2020. After all the new tax regime is about low deductions and lower taxes. Yet, a complete tilt was still hanging. On Wednesday, finance minister Nirmala Sitharaman finally announced the government’s seriousness in marking this shift. The FM said the government proposes to make the new tax regime as the default setting for all income tax returns from April 1, 2023. What forced the government’s hand? The answer may lie in a series of specific complaints by taxpayers. Tax processing centres and the tax department itself received complaints from individual assesses that a higher rate of tax was deducted even though they didn’t have any tax-saving or home loan. Read More “Since their taxes were deducted at a higher rate and they were clueless, there … [Read more...] about What may have forced the government to make new tax regime the default

Finance Minister Nirmala Sitharaman India's life insurance companies have asked Finance Minister Nirmala Sitharaman for a meeting to emphasise their role and importance. "We would like to reinforce the place and role of life insurance in the economy. I would really request that you give us, the life insurance CEOs, some time to meet you and work with you to realise your vision for the sector and the industry," Vishakha RM, managing director, and chief executive officer of IndiaFirst Life Insurance, told Sitharaman on February 7 at an industry interaction. The life insurance company chief's request comes after the Budget for 2023-24 sent the sector into a tizzy. The Budget proposed that income from life insurance policies, other than ULIPs, issued in the next financial year and where the total annual premium is greater than Rs 5 lakh will not be tax-exempt. According to experts, this would dent the top and bottomlines of insurance companies. The Budget announcement led to … [Read more...] about Amid Budget announcement pressure, life insurers seek meeting with FM Sitharaman

Oasis's CEO Ahn Jun-hyung speaks during a press conference to announce the company's plans for its listing at Yeouido, western Seoul, on Wednesday. [OASIS] Oasis, a Korean e-commerce company that's actually profitable, is set to list on Kosdaq on Feb. 23 in an offering that could raise as much as 206.8 million, with some of the proceeds going to the largest shareholder. If the initial public offering (IPO) goes as planned, Oasis will be the first domestic e-commerce operator to go public. Other e-commerce companies, such as Kurly and SSG.com, have either postponed or canceled. Coupang, another major e-commerce operator, listed on the New York Stock Exchange in 2021. Founded in 2011, Oasis started off by focusing on developing and selling organic goods through it physical stores. It expanded its business to dawn deliveries and online sales with Oasis Market in 2018. The company plans to issue 3.66 million new shares and 1.57 million old shares priced between 30,500 won to … [Read more...] about Oasis, a dawn-delivery success story, to list on Korea’s Kosdaq

A bird's-eye view of SK bioscience's vaccine facility in Songdo, Incheon [SK BIOSCIENCE] SK bioscience will invest 325.7 billion won ($258 million) in building a manufacturing facility in Songdo, Incheon, aiming to become a key player in the vaccine industry. The facility, which will be built on a 30,414-square-meter site in Songdo, will have all equipment to conduct research, as well as a small-size manufacturing plant for pilot products. Construction will be finished in the first half of 2025. When completed, SK bioscience’s headquarters, which is currently based in Panggyo, Gyeonggi, will be moved there. An Open Lab for business meetings with its potential partner companies will be built in the facility, SK bioscience cooperated with various international organizations, including the Bill & Melinda Gates Foundation, the Coalition for Epidemic Preparedness Innovations and International Vaccine Institute to develop SKYCovione, Korea’s first domestically-developed … [Read more...] about SK bioscience announces new building and profit plunge