India

2022-05-18

Diversified conglomerate ITC on Wednesday reported an 11.8 percent year-on-year (YoY) jump in net profit at Rs 4,191 crore for the fourth quarter ended March 31, 2022, due to strong growth across all operating segments. In the corresponding quarter last year, the company posted a net profit of Rs 3,748 crore. CNBC-TV18 Polls had predicted a profit of Rs 4,150 crore for the quarter under review..... More: https://bit.ly/3llXnIZ Via cnbctv18.com


Karbon Card, a corporate card provider and an emerging neobank for the new-age startups and SMBs, has raised INR 55 crore debt finance from Northern Arc Capital, UC Inclusive Credit Private Limited (UCIC) and Oxyzo financial services. The fund raised will be used to empower and enable startups and SMBs with corporate credit cards that they can use as a flexible growth capital. This is the first debt round Karbon has raised.....


Homemakers Insurance: Declaring any form of income, like rent, that the homemaker earns can help her get a higher sum assured In India, the breadwinner of the family usually purchases a life insurance cover for himself. Most homemakers remain uninsured. However, things are beginning to change now. A recent online survey of 5,000 respondents conducted by Policybazaar in April 2022 found that around 15 per cent of the active policies are independent term plans meant for homemakers. Independent ter…


2022-05-18

41वें हुनर ​​हाट का उद्घाटन 19 मई, 2022 को सुबह 11:30 बजे ।


In addition to volume growth, margin gains hinge on raw material/freight cost movement The stock of Eicher Motors was up 7.5 per cent in trade on Monday on expectations of robust domestic demand, scaling up of export opportunity and higher margins. Led by strong performance of its two wheeler business (Royal Enfield), the company’s March quarter performance was in line with analyst estimates. The near term trigger would be volume growth improvement helped by the easing of supply chain constrai…


Hindustan Aeronautics Ltd (HAL) shares have soared 35% so far this year, outperforming NSE Nifty 50 index which has fallen 7%. In the past one year, HAL share price has surged 67% and analysts at ICICI Securities see a further upside of up to 72% going forward....


The rapid progress in digital innovation raises a fundamental question: will leaders look only to capture the resulting economic gains or steer new technologies towards advancing both prosperity and fulfilling key global priorities? India’s growing prominence can answer this question. The world is in the midst of an innovation era – one that began before the pandemic but is increasingly being defined by the acceleration in digital development and uptake over the past two years......


Tthe central bank is applying stringent filters in terms of eligibility of applicants Six out of 11 applicants, including UAE Exchange and Financial Services, The Repatriates Cooperative Finance and Development (REPCO) Bank and Sachin Bansal-backed Chaitanya India Fin Credit Pvt Ltd could not make the cut for a Bank license, according to the Reserve Bank of India. The Reserve Bank of India (RBI) has rejected all four applications it has received for setting up universal banks.......


Makes onset over South Myanmar, knocks at Sri Lankan doors   Conditions are favourable for further advancement of the monsoon into more parts of South Bay of Bengal, the entire Andaman Sea and Andaman Islands and some parts of East-Central Bay during the next two to three days as the seasonal weather system made steady progress on Tuesday, the second day after onset over the South Andaman Sea.


Trade Setup | Nagaraj Shetti of HDFC Securities says the intense follow-through weakness from here could open more downside in the near term.


Middle East

Abu Dhabi-based petrochemical company Borouge said Wednesday it plans to float an initial public offering (IPO) by offering 10% of its stake on the Abu Dhabi Securities Exchange (ADX).   Key details Borouge, a joint venture between state-owned energy firm Abu Dhabi National Oil Company (ADNOC) and Austrian chemical producer Borealis, plans to offer 3 billion ordinary shares, and the listing is scheduled for June 3, the company said in a statement. A price range has not been indicated.....


Asubsidiary of energy giant Shell, BG International, inked a farm-out agreement (FOA) to buy a 100% stake in ExxonMobil-operated North East El-Amriya offshore area, Mediterranean Sea, also known as Block 3, a Shell statement said on Wednesday.   Key details "On completion of the transfer, BG will become the operator," , a Shell said in a statement on Wednesday, without disclosing the deal value. The FOA, signed with ExxonMobil Egypt, is still subject to government and regulatory approvals.....


Saudi energy firm ACWA Power said Wednesday its net profit rose by 9.2% year-on-year to $40.48 million (SAR 151 million) for the three months ending March 31, 2022. Key details The growth in the first quarter can be attributed to an increase in the share of net income from equity accounted investees due to projects that started after Q1 last year and an increase in other incomes. Last year, the firm made a net profit of $37 million in the first quarter. In a statement Wednesday, the power provid…


The E-Business Awards 2022 will be held on Wednesday, May 25, 2022, at the Raffles Dubai, with the event aiming to celebrate the individuals and organizations that are shaping the online space in the MENA region. Nominations are now open for the E-Business Awards 2022, an annual event staged by Entrepreneur Middle East to recognize and reward key players in the MENA region's digital business landscape. .......


2022-05-18

The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) has opened its Regulatory Laboratory (RegLab) sandbox programme for the 5th cohort of applications today. The 5th Reglab application is open until 15th July 2022 and will focus on innovation in financial services powered by decentralised applications and protocols. ADGM’s Reglab is a tailored regulatory regime for FinTech participants which is designed to foster innovation within the UAE financial services m…


2022-05-18

HE Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA), emphasised that DEWA supports the UAE’s strategic growth ambitions by providing millions of residents and visitors, with world-class services and innovative energy solutions, that in turn will enrich lives while ensuring the happiness and wellbeing of all stakeholders and shape the future of utilities. Al Tayer made these remarks during his speech at the 1st edition of the EFQM Middle East Summit held in G…


2022-05-18

Emirates, the world’s most global airline, is seeking talented people with a passion for service to join its award-winning cabin crew team. As air travel returns with a vengeance, the airline’s recruiters are busy meeting and hiring candidates in 30 cities from now until the end of June. In this latest drive, Emirates’ teams will travel from Australia to the UK, and dozens of European cities in between, as well as Cairo, Algiers, Tunis and Bahrain.  Abdulaziz Al Ali, Emirates Group’s Ex…


2022-05-18

Dubai’s Roads and Transport Authority (RTA) is restoring 4 intercity bus services as of May 19th, 2022, thanks to life coming back to normal, following the outbreak of the Covid-19 pandemic, and the growing demand for the service.  “The four intercity bus routes to be resumed from Dubai are: E100 from Al Ghubaiba Bus Station to Abu Dhabi, E201 from Al Ghubaiba Bus Station to Al Ain, E315 from Etisalat Metro Station to Muwaileh, Sharjah, and E700 from Etihad Bus Station to Fujairah,” annou…


2022-05-18

مطر الطاير معزّياً الشيخ محمد بن زايد آل نهيان بمداخلةٍ مع قناة دب


2022-05-18

محمد بن زايد: رحم الله أخي خليفة.. الأمانة ثقيلة.. نسأل الله التوفيق والعون والسدا


South East Asia

2022-05-18

Explainer: Port lockdowns in the Middle Kingdom have ensnarled shipments and made producers rethink where to source raw materials China's Covid containment measures, especially in the world's largest port city of Shanghai, have influenced Thailand's supply chain security and could cast a shadow on local manufacturers' decisions in the medium term. Q: How have China's port lockdowns affected Thailand's supply chain security?.....


2022-05-18

ndonesia booked a trade surplus of $7.56 billion in April, thus beating the country’s all-time high, the National Statistics Agency or BPS recently announced in a conference.  "This is the highest trade surplus. Our previous record high of $5.74 billion dates back to October 2021,”  BPS chief Margo Yuwono told a virtual press briefing on Tuesday. ....


2022-05-18

Prime Minister Pham Minh Chinh on May 17 (local time) attended a Vietnam-US trade, investment and tourism promotion conference themed ‘Rediscovering Vietnam’ in San Francisco. The conference, held by the national carrier Vietnam Airlines and two travel groups – Saigon Tourists and Thien Minh Group – to boost the cooperation between enterprises of the two countries and to introduce Vietnam to US friends and partners.....


2022-05-18

Asian-centric British bank Standard Chartered believes Malaysia's economy can expand faster this year than what it expects earlier. StanChart revised Malaysia's full-year gross domestic product (GDP) forecast to 7.0 per cent from 6.2 per cent.given the surprisingly solid first quarter (Q1) growth..... More: https://bit.ly/3PwFnJF Via nst.com.my


2022-05-18

US-based Avanade has announced plans to launch its first digital innovation studio in Malaysia. Situated in Avanade's expanded office space in Tun Razak Exchange, the studio will be home to a multi-disciplinary team of designers, developers, engineers, and product managers, dedicated to helping clients reimagine experiences and create new products and services through a design-led, user-centric approach, the company said in a statement...... More: https://bit.ly/3yGlXw9 Via: nst.com.my


THE Philippine economy is expected to grow by 8% this year on the back of upbeat first-quarter economic expansion, Standard Chartered Bank economists said. In a report, Standard Chartered Chief Economist for Southeast Asia and India Edward Lee and economist Jonathan Koh said the bank had raised its Philippine gross domestic product (GDP) growth forecast to 8% in 2022 from 7.5% previously. The projection is well within the 7-9% target of economic managers.....


A luxury resort in Phuket can claim insurance payouts for losses arising from Covid-19-related lockdowns after the Singapore High Court ruled that the resort's commercial insurers' policies should cover these losses. In what is believed to be the first such ruling here on the interpretation of business interruption clauses in the context of the pandemic, Justice Pang Khang Chau found that QBE Insurance (Singapore) and MS First Capital Insurance are liable to indemnify the owner of Le Meridien Ph…


New private home sales stabilised in April, with a rise in luxury home sales and a growing number of foreign buyers despite property cooling measures. Buyers snapped up 653 new private homes last month, on a par with the 654 in March, according to Urban Redevelopment Authority (URA) data released on Tuesday (May 17).....


2022-05-17

Cambodia exported goods for a total of $7,606 million in the first four months this year, a 32 percent increase over the same period last year, data from the General Department of Customs and Excises showed. From the January to April period, the US was the biggest market for Cambodia’s exports with a total of $2,923 million, followed by Vietnam and China with $977 million and $423 million, respectively.... More: https://bit.ly/39sfBWu Via khmertimekh.com


2022-05-17

Hundreds of smallholder farmers on Tuesday staged a protest in the capital Jakarta and in other parts of the world's fourth most populous country, demanding the government end a palm oil export ban that has slashed their income. Indonesia, the world's top palm oil exporter, has since April 28 halted shipments of crude palm oil and some of its derivative products in a bid to control soaring prices of domestic cooking oil, rattling global vegetable oil markets.This article was published in thejak…