We feature some of the regional and international fintech industry experts, startups, and investors who attended the Dubai Fintech Summit held in Dubai in May 2023. At the first-ever Dubai Fintech Summit, which was held in Dubai in May 2023, we had a chat with Maanav Sagar, Partner at Bharat Founders, a group of successful Indian entrepreneurs looking to invest in early-stage ventures, about how artificial intelligence can help further unlock the growth potential of financial technology....

Go First's grounding has resulted in trouble for air travellers as airfares have reportedly spiked multi-fold in the last one month. Some of the key routes that Go First operated on are seeing a very sharp surge. Civil Aviation Minister Jyotiraditya Scindia on Thursday said there is an unusual situation due to the Go First crisis and there has been an excess demand on the routes the airline had been operating.....

State-run Bharat Petroleum Corporation Ltd (BPCL) is in talks with Switzerland-based fluid engineering major Sulzer Chemtech for a tie-up in the sustainable aviation fuel space....

In a statement, the Finance Ministry said the monthly GST revenue stands at over ₹1.4-lakh crore for the 14th consecutive month Strong demand and better compliance helped collection from Goods & Services Tax (GST) in May to reach ₹1.57-lakh crore. Though it is 12 per cent higher than last May, sequentially it is 16 per cent lower than April 2023’s collection. Experts expect collection to rise in coming months....

The funds will be utilized to invest in product development and expanding the team size by 4 times and enhancing the scalability of the core technology to accommodate ten times the current growth BharatNXT, a B2B fintech platform in the financial technology sector, has raised $1.2 million in a Seed Round led by Inflection Point Ventures. The round also saw participation from Japanese VC - Spiral Ventures, Keiretsu Forums, and Panthera Peak Capital. The funds will be utilized to invest in product…

The government believes firms which are subject to China's laws could be forced to hand over information to Beijing's security services The government has no plans of providing trusted source certificates to Chinese telecom equipment manufacturers such as Huawei and ZTE yet, thereby keeping them locked out of India’s telecom sector, according to officials in the Department of Telecommunications (DoT). Officials pointed at national security concerns to block Chinese firms in telecom....

For the 2022/23 fiscal year, India's economic growth was revised upwards to 7.2% from an earlier estimate of 7% India's economy grew 6.1% in the January-March quarter, accelerating from revised 4.5% in the previous quarter and 4.1% in Q4FY22 helped by a pickup in manufacturing activity, showed government data on Wednesday. For the 2022/23 fiscal year, economic growth was revised upwards to 7.2% from an earlier estimate of 7%. After this, the Indian economy is now $3.3 trillion in size.....

Vedanta chairman Anil Agarwal envisions that the parent company, Vedanta Resources will become a zero debt company over the next few years.   Agarwal said, adding that the company is comfortable with all the payment has been made in the past and also expressed confidence that payments will be made in the futures at well.

A capacity of 70 million tonnes will come up in 5 years across with 63,000 PACs managing godowns India will have the capacity to store 70 million tonnes (mt) more foodgrains over the next five years. With this, storage facilities will be available for nearly three-fourths of foodgrains produced in the country....

India transformed in less than a decade; different from 2013: Morgan Stanley report The report (/topic/report), India Equity Strategy and Economics: How India Has Transformed in Less than a Decade, highlights the 10 big changes, mostly because of India's policy choices, and their implications for its economy and market. Read more At:  https://aninews.in/news/business/business/india-transformed-in-less-than-a-decade-different-from-2013-morgan-stanley-report20230531113727/

Modern children get digital devices at a young age and begin navigating the cyberspace early – they explore the world, make friends, play games and learn. On International Children’s Day, a new Kaspersky Safe Kids study published on Kaspersky Daily reveals children’s digital interests & preferences. Over the last months, the three most popular apps on Android among children in Oman were YouTube (37.1%), Instagram (17.8%) and WhatsApp (11.0%). On Windows, the most popular apps were Google C…

The Undersecretary of the Ministry of Interior, Lieutenant General Anwar Al- Barjas, said the biometric fingerprint project provides a database for everyone who lives in Kuwait provided he/she is 18 years old and above, reports Al-Qabas daily. In this regards the Public Relations and Security Media Department of the ministry said in a press release following an inspection tour by Lieutenant General Al-Barjas to a number of biometric fingerprint centers, to determine the level of performance, spe…

The Investment Promotion Agency Qatar (IPA Qatar) and the German Federal Association for Small and Medium-sized Businesses (BVMW) announced the inauguration of a BVMW representative office in Doha, its first-ever headquarters in the GCC region.  The official launch of the BVMW representative office in Qatar signifies a remarkable step towards advancing Qatari-German business cooperation. The office will connect 900,000-BVMW alliance members with Qatari counterparts and serve as a hub for connec…

Saudi Arabia is witnessing increased entrepreneurial activity as the total number of small and medium enterprises exceeded 1.2 million in the first quarter of 2023. According to a report released by the Small and Medium Enterprises General Authority, also known as Monsha’at, this figure reflects a 4.8 percent surge compared to the final quarter of 2022.....

The travel and tourism industry in the Arab world has been a major contributor to the region’s economic growth and development, with the region emerging globally as a world-class destination. Dubai has become a hub for tourism, and in recent years Saudi Arabia, Qatar, Egypt, and Abu Dhabi have invested heavily in the sector. The region is also becoming an important sporting destination, with the Formula One Grand Prix hosted by Bahrain, the U.A.E., and Saudi Arabia. The U.A.E. also hosts UFC e…

We feature some of the regional and international fintech industry experts, startups, and investors who attended the Dubai Fintech Summit held in Dubai in May 2023. At the first-ever Dubai Fintech Summit, which was held in Dubai in May 2023, we had a chat with Maanav Sagar, Partner at Bharat Founders, a group of successful Indian entrepreneurs looking to invest in early-stage ventures, about how artificial intelligence can help further unlock the growth potential of financial technology....

Dubai Electricity and Water Authority (DEWA)’s initiatives and programmes, which aim to develop and facilitate access to all its services through digital channels, are highly appreciated by customers, partners and all stakeholders. The stakeholders praise DEWA’s continuous keenness to enrich their experiences and provide instant and innovative value-added services that enhance their happiness and participation in achieving the sustainable development, in addition to enabling them to complete…

Emirates’ flagship A380 has achieved a milestone as it made a landmark touchdown at Bali’s I Gusti Ngurah Rai International Airport earlier today and became the first-ever scheduled A380 service to Indonesia. Emirates’ flight EK368 left Dubai at 03:10 hrs and arrived in Bali at 16:20 hrs. The return flight, EK369, will depart Bali at 19:40 hrs and arrive in Dubai at 00:45 hrs. All times are local. The world’s largest passenger aircraft was showered with a spectacular water cannon salute …

Payment of parking fees is made easier through 4 different channels Dubai's Roads and Transport Authority (RTA) has installed over 17,500 new directional signs in parking control zones across Dubai. These signs provide details about public parking fees, service hours, and payment channels. The step is part of RTA's ongoing efforts to bring more happiness to customers through enhanced services, offer the best solutions for parking use, and make them more accessible through a variety of channels.�…

Amazon has launched a new fulfillment center in Riyadh doubling its total storage capacity in Saudi Arabia and increasing selling opportunities for small and medium-sized businesses. The facility, which spans 390,000 sq. feet across five floors, with 2.7 million cubic feet capacity can store more than 9 million products, according to a statement .....

Rice miller and exporter Amru Rice (Cambodia) Co., Ltd. and buyers, representative from the Dutch Ministry of Foreign Affairs, development partners, and donors held here earlier this week a discussion on the promotion of organic agriculture, rice and sustainable agriculture practice in Mondulkiri province. “Through the collaboration project, Amru Rice with the help of the Dutch government and stakeholders will create employment opportunities for farmers in remote areas,.... More https://bit.l…

Emirates’ flagship A380 has achieved a milestone as it made a landmark touchdown at Bali’s I Gusti Ngurah Rai International Airport earlier today and became the first-ever scheduled A380 service to Indonesia. Emirates’ flight EK368 left Dubai at 03:10 hrs and arrived in Bali at 16:20 hrs. The return flight, EK369, will depart Bali at 19:40 hrs and arrive in Dubai at 00:45 hrs. All times are local. The world’s largest passenger aircraft was showered with a spectacular water cannon salute …

The “Green Start-up” programme initiated by the HCM City-based Business Studies and Assistance Centre has been creating a generation of young agricultural entrepreneurs who effectively exploit indigenous resources, a seminar has heard in HCM City. At the "Green start-up, 10-year journey to create young agricultural entrepreneurs" seminar on May 31, many successful young entrepreneurs shared their start-up stories by using local resources..... More https://bit.ly/45JJeLO Via vietnamnews.vn

The Digital Industry Sentiment Index rose above the threshold offirst quarter for the first time in 12 months, reaching a three-year according to a survey by the Digital Economy Promotion Agency The index surged to 54.0, up from 49.0 in the fourth quarter of 20driven by entrepreneurs' confidence as Thailand's economy recovthanks to a tourism rebound and higher foreign investment....

Philippine factories posted faster output growth in May, with manufacturers reporting faster delivery of raw materials they need for production, which helped them meet growing demand. Results of a survey of around 400 companies showed the Philippines’ Purchasing Managers’ Index (PMI) — a measure of factory output — went up to 52.2 in May, from the 8-month low of 51.4 in April, S&P Global said in a report on Thursday.....

Tycoons on the 2023 Forbes list of Malaysia’s 50 Richest saw their combined wealth increasing to US$81.6bil (RM376.3bil) from US$80.5bil (RM371.2bil) a year ago.   The marginal increase of 1.4% in their collective fortunes came despite a dip in the stock market and the decline in the value of the ringgit.... More https://bit.ly/43yrce1 Via thestar.com.my

THE Monetary Authority of Singapore (MAS) has prohibited six former agents of Great Eastern Financial Advisers (GEFA) from providing any financial advice, being part of the management, and becoming director or substantial shareholder of any financial advisory. They are also disallowed from carrying on business and taking part in the management of any insurance intermediary. The six individuals will be prohibited from taking part in business activities for five years, starting from Thursday (Jun …

Economic think tank INDEF fears that Indonesia might have not carefully planned the imminent ban on unprocessed bauxite ores. A ban on unprocessed bauxite ores is set to come into effect on June 10 in a bid to drive domestic processing of the mineral. However, Indonesia may be far from ready once the ban enters into force. Indonesia’s success with its nickel downstream policy prompted the government to rush into banning exports of raw minerals such as bauxite. But the nickel value chain is inc…

PRESIDENT Ferdinand R. Marcos Jr. called on government agencies to “fully embrace” digitalization by making as much as 95 percent of their transactions done online. Marcos made the pronouncement after the Government Service Insurance System (GSIS) reported during its 86th anniversary celebration last Wednesday was able to successfully process 95 percent of its more than one million multi-purpose loan (MPL) application online......

Total retail sales of consumer goods and services in the first five months of this year was estimated at VNĐ2.52 quadrillion ($107.2 billion), a year-on-year rise of 12.6 per cent, the highest recorded in the same period since 2015, reported the General Statistics Office (GSO). It underlines that the five-month result represents a surge of 28.3 per cent over the same time in 2019 before the COVID-19 pandemic broke out.....