Indian software firm to open office on P.E.I.

CHARLOTTETOWN -- An Indian software company plans to open its first North American sales office on Prince Edward Island this spring, creating between five and 10 jobs, the provincial government says.

See Full Article

Aark Infosoft, which employs 250 people and is based in Ahmedebad, specializes in enterprise solutions, electronic commerce and website applications.

The province's announcement came Wednesday as part of a trade mission to India that includes Premier Wade MacLauchlan and Ontario Premier Kathleen Wynne.

The company's decision to set up shop in P.E.I. came after it was recently awarded a contract to digitize the library owned by a U.S.-based publisher, the province said.

The announcement comes almost four years after a similar trade mission to India -- led by then premier Robert Ghiz -- resulted in a pledge from Indian IT firm MphasiS to establish an office on the Island and create 300 jobs by 2014.

Government spokesman Brad Chatfield confirmed Thursday the MphasiS operation currently employs four people.

The P.E.I. government has also announced that it had signed a memorandum of understanding with Canadian Nectar Products that will see the company sending P.E.I. apples to markets in India and Asia.

The announcements were made after MacLauchlan and Wynne met with Indian Prime Minister Narendra Modi as part of their week-long trade mission.

The P.E.I. government's statement said the Island's delegation met with government and business leaders in New Delhi and the city of Chandigarh.

Meetings are scheduled in the cities of Hyderabad and Mumbai before the trip wraps up on Saturday.

"We have taken important strides with these face-to-face meetings and look forward to pursuing these opportunities and relationships," MacLauchlan said in the statement.



Advertisements

Latest Economic News

  • Canada open to completing NAFTA talks in short order

    Economic CBC News
    Canadian negotiators are open to working on a timeline proposed by the U.S. to complete NAFTA renegotiations before the end of the year, CBC News has learned. A government source, speaking on background, tells CBC News that Canada is willing to work quickly, but will not agree to a bad deal for the sake of meeting a deadline. Source
  • U.S. wants NAFTA talks to wrap up before year's end, but is it possible?

    Economic CBC News
    Canadian negotiators are open to working on a timeline proposed by the U.S. to complete NAFTA renegotiations before the end of the year, CBC News has learned. A government source, speaking on background, tells CBC News that Canada is willing to work quickly, but will not agree to a bad deal for the sake of meeting a deadline. Source
  • B.C. premier and jobs minister sued by fired LNG advocate claiming $5M

    Economic CTV News
    VANCOUVER -- British Columbia's fired liquefied natural gas advocate is suing Premier John Horgan, the province's jobs minister and a New Democrat MP in a lawsuit claiming $5 million in damages. Gordon Wilson alleges in a statement of claim filed in B.C. Source
  • Millennials in Atlantic Canada most optimistic about owning homes

    Economic CTV News
    Do millennials think they can afford to buy a home? If they live in Atlantic Canada, the answer is a lot more likely to be yes. That’s according to a new online survey of 1,000 Canadians aged 25 to 30, conducted by Leger Marketing from real estate firm Royal LePage. Source
  • Can millennials afford to buy a home? It depends where they live

    Economic CTV News
    Do millennials think they can afford to buy a home? If they live in Atlantic Canada, the answer is a lot more likely to be yes. That’s according to a new online survey of 1,000 Canadians aged 25 to 30, conducted by Leger Marketing from real estate firm Royal LePage. Source
  • $500K hardship fund for former Sears Canada employees approved by judge

    Economic CBC News
    A judge has approved a hardship fund for former Sears Canada employees that will come from a pool of money set aside to pay bonuses for key employees. The $500,000 fund will help former employees facing difficulty who would have otherwise been eligible for severance payments when they lost their jobs at the retailer. Source
  • Elevated testosterone linked to 'reckless' financial trading, study finds

    Economic CBC News
    It's no secret financial traders have always been predominately male. So, when a group of researchers with the Ivey Business School at Western University in London, Ont., set out to at look at the role of testosterone on the markets, it wasn't a far-flung idea. Source
  • Brazil to ask for WTO panel to settle dispute over Bombardier subsidies

    Economic CTV News
    MONTREAL -- Brazil says it will ask the World Trade Organization to establish a dispute settlement panel after consultations with Canada failed to resolve its complaint about government subsidies to aircraft manufacturer Bombardier. The South American country said it will ask the WTO to examine more than 20 subsidy programs granted to the Montreal-based company for the development of its CSeries aircraft. Source
  • Bombardier employee in Swedish unit charged with bribery

    Economic CBC News
    A Russian employee in the Swedish branch of Canadian plane and train maker Bombardier was charged Friday with aggravated bribery and faces up to six years in jail and deportation if found guilty. Swedish prosecutor Thomas Forsberg alleges Evgeny Pavlov bribed a public servant in Azerbaijan to win a $340-million contract for a new signalling system. Source
  • Bombardier says Russian worker charged with bribery doesn't reflect its values

    Economic CTV News
    MONTREAL -- Bombardier says the filing of formal criminal charges in Sweden on Friday against a railway employee doesn't reflect its values. "We take these allegations very seriously as they assert conduct that does not reflect our values or the high standards we set for ourselves, our employees and our partners," the Montreal-based company (TSX:BBD.B) said in a statement. Source