India

A pair of gold-plated spectacles belonging to Mahatma Gandhi was discovered by employees of an auction house at UK's Bristol. East Bristol Auctions in south-west England said that they were surprised to find the spectacles, received through their letterbox in an envelope. It may behold a rich history, said the auctioneers.....


2020-08-10

Benchmark Sensex jumped over 300 points in early trade on Monday, led by gains in index majors HDFC twins, L&T and Kotak Bank amid sustained foreign fund inflow and positive cues from global markets...


Swiggy is preparing to launch a chain of virtual convenience stores to deliver grocery and household items within 45 minutes, sources told ET, a development that the food app delivery later confirmed.The launch of InstaMart comes at a time when the Covid-19 pandemic has hastened consumer preference for doorstep deliveries, especially in metros, and as deep-pocketed entrants, including Flipkart Quick, as well as existing players Amazon, BigBasket and Dunzo have heightened focus on this .. Read m…


The chemical manufacturing industry is bracing up for enhanced supervision and handling norms with regard to substances that come close to explosive grade. Chemical manufacturers are expecting the government to issue stricter norms for handling of ‘ammonium nitrate (AN),’ the explosive chemical that led to a mini nuclear-like blast in Beirut recently. Even handling of phosphorous, a chemical used for manufacturing of matchsticks and fire crackers, is being critically evaluated, sources said.…


Instead of completely changing the return forms, the effort is now to introduce, within the existing framework, changes in a staggered manner Filing goods and services tax (GST) returns will be easier with technological changes set to be introduced over the next few months, while putting on hold the simplified return-filing system, which had been proposed earlier. Instead of completely changing the return forms, the effort is now to introduce, within the existing framework, changes in a staggere…


The defence minister said various departments and ministries of the government are working tirelessly to implement Modi's initiative for a self-reliant India and that it is an attempt to give a fresh dimension to Mahatma Gandhi's push for 'Swadeshi' Defence Minister Rajnath Singh will launch 'Atma Nirbhar Bharat Saptah' on Monday at 3:30 pm, according to the official statement. Singh also said the Prime Minister Narendra Modi will present a new outline for a self-reliant India on Independenc…


2020-08-10

Indian Railways has been facing a challenging year because of the coronavirus outbreak. With passenger revenues hit by the limited train services in the first quarter of the fiscal, the national transporter is pinning hopes on an increase in freight revenue and lower expenditure to match last year’s operating ratio. Plans are being finalized for private firms to run freight trains on dedicated freight corridors, Railway Board chairman Vinod Yadav said in an interview. Also, for the first tim…


From ₹13,150 cr as of June 2019, they have grown to ₹83,827 cr as of June 2020 Is Reliance Industries (RIL) planning a big splash in the financial services sector? The company had identified ‘financial services’ as a separate business segment from the March 2020 quarter. While no specific roadmap was laid out in the recent AGM or in the June 2020 quarter results, the sharp jump in the segment’s assets in the recent June quarter suggests that ambitious plans may be at play....


2020-08-09

Coronavirus pandemic has granted us "an opportunity to reboot our thinking and reinvent our approach", Mahindra Group chairman Anand Mahindra said at Mahindra & Mahindra's 74th annual general meeting on Friday. “Let me stress that growth continues to be our goal. If anything, our focus on growth is sharper than before. We have already started identifying and taking appropriate action on businesses that have not lived up to their business plans," said Mahindra. "COVID-19 pandemic has turned…


The world has a lot riding on India and China given their size and the impact, External Affairs Minister S Jaishankar said on Saturday, suggesting that the future of ties between the two countries would depend on reaching "some kind of equilibrium or understanding". Read more at:https://economictimes.indiatimes.com/news/politics-and-nation/world-has-lot-riding-on-india-and-china-due-to-their-size-and-impact-jaishankar/articleshow/77436167.cms?utm_source=contentofinterest&utm_medium=text&utm_camp…


The latest gaming phone from the Taiwanese gadget giant blends powerful gaming experience with superior software performance and seamless multitasking Asus has just introduced its third generation Republic of Gaming (RoG) smartphones -- the ROG Phone 3 -- in India. The timing of the launch seems pretty accurate, despite the difficult situation.....


China's imports from India have gone up 6.7 per cent since January this year to $11.09 billion. As a result, total trade with India has registered a slightly lower 18.6 per cent drop since the beginning of 2020 As voices calling for 'Boycott China' grow stronger, Government of China's customs data shows that mainland China's exports to India since January 2020 have fallen 24.7 per cent year-on-year to $32.28 billion. Interestingly, mainland China's imports from India have gone up 6.7 per cent si…


2020-08-09

ashish Dahiya, Chief Executive Officer and co-founder of PolicyBazaar.com, commented on the impact of the Covid-19 pandemic and the consequent lockdown on startups in India. He was speaking at the latest edition of Mint's Pivot Or Perish webinar series which aims to decode how Indian businesses and consumers are responding to the evolving situation posed by the unprecedented health crisis. Dahiya said that PolicyBazaar was 'fairly well-capitalised' and its primary operations didn't halt during t…


Mukesh Ambani has surged past Europe’s wealthiest man, making him the world’s fourth-richest person.Reliance Industries Ltd.’s chairman is now worth $80.6 billion, after amassing $22 billion this year, according to the Bloomberg Billionaires Index. That gives him a bigger wealth pile than France’s Bernard Arnault, whose LVMH Moet Hennessy Louis Vuitton SE has suffered from customers curbing high-end fashion purchases faster than the company can cut costs. Read more at:https://economictim…


There is an urgent need to look towards improving presence of Micro, Small and Medium Enterprises (MSMEs) industry in the 115 identified aspirational districts of the country, said Minister of MSME, Nitin Gadkari, here on Saturday....


Kerala plane tragedy: 19 people, including Captain Deepak Sathe, pilot-in-command, and Akhilesh Kumar, his co-pilot, lost their lives in this mishap The Directorate General of Civil Aviation (DGCA) said that the Air India Express plane was at full speed while making its landing at the Kozhikode International airport in Kerala, also known as Karipur airport, and overshot the runway on Friday evening.....


2020-08-08

Individuals and companies are upbeat about their prospects in a year’s time though they remain downcast about the current state of things, separate central bank surveys found. Consumer Confidence Index (CCI) for the current fiscal year came in at a measly 53.8 points in a Reserve Bank of India (RBI) survey, but jumped to 105.4 points for a year ahead. The survey was based on responses from 5,342 households across 13 major cities.The central bank said while consumer confidence plunged in July t…


Sowing higher by 10 per cent as area under oilseed, rice, pulses expands Kharif planting is all set for a new record with sown area under many crops including major oilseeds and cotton exceeding the normal area. According to kharif sowing data released by Agriculture Ministry on Friday, a total of 966 lakh hectares (lh) were planted till date, nearly 10 per cent more than 878 lh sown in the corresponding week last year. Though there is nearly two months left in the season, crops such as soyabea…


About 71% of Bandhan's banking outlets are located in rural and semi-urban areas Bandhan Financial Holdings Ltd (BFHL), the holding company of Bandhan Bank, sold nearly 21 per cent to comply with the Reserve Bank of India’s (RBI) ownership rules, and raised Rs 10,500 crore. In terms of percentage shareholding, the sale was one of the largest through block deals, involving marquee investors such as GIC Pte, BlackRock and Temasek. That this deal was executed during the Covid-19 pandemic made it …


The UP government and YIEDA have roped in medical device industry body AiMeD (Association of Indian Medical Device Industry) to partner with the government to develop the proposed MedTech park Uttar Pradesh will join the central government's challenge programme to bag one of the four greenfield medical device park projects that are being proposed under heavy central funding and assistance. The state has identified a Greater Noida site close to the upcoming Jewar International Airport as a pote…


Middle East

2020-08-10

The Dubai Taxi Corporation (DTC) at the Roads and Transport Authority (RTA) has held an online workshop entitled: ‘Preparatory Steps for Post-Coronavirus Year.’ Attendees included Abdul Mohsen Ibrahim Younes, CEO of Rail Agency and Chairman of DTC Supervisory Board; Dr Yousef Al Ali, CEO of DTC, and several members of the Board and leaders of DTC.  The workshop discussed two key topics. The financial sustainability and excellent operation of DTC. Discussions aimed to envision the situation …


2020-08-09

Whether you’re looking for a companion or want to be part of a community in a city, being a dog or cat owner can bring a whole new dimension to your life. Dubai has never been more pet friendly with many eateries and even beaches allowing dogs into their facilities, but pet abandonment is still common so you have to know exactly what you’re getting into if you want to bring in a new member into the family.....


2020-08-09

• Featuring 114 villa and townhouses, Sarab 2 follows the successful sell-out of the first Sarab community• Launch brought forward to meet strong demand for new units in Aljada• Residents to benefit from world-class leisure facilities Arada has announced the launch of a new premium garden villa community at Aljada, the 24 million square foot mixed-use destination in the heart of New Sharjah. Featuring 114 villas and townhouses set in a lushly landscaped and exclusive neighbourhood, homes…


2020-08-09

The Board of the Central Bank of the UAE, CBUAE, has decided on additional measures within the Targeted Economic Support Scheme, TESS, launched initially in March 2020 to further enhance the capacity of the banking sector to support the economy. A press statement issued by the Bank on Tuesday said that these measures consist into reviewing the existing thresholds of two prudential ratios: the Net Stable Funding Ratio, NSFR, and the Advances to Stable Resources Ratio, ASRR, by temporarily relaxin…


2020-08-09

Saudi Tourism Minister Ahmed Al-Khatib on Saturday reviewed the “Sama Abha” project. He was briefed about the tourist and investment components of the project located north of Abha.The project, which costs more than SR12 million, is part of the initiatives to improve the urban landscape of the Asir region.With other government officials, the minister then visited the historical Shamsan Castle. It is a large rectangular building with three towers and a main entrance on the west side overlooki…


2020-08-09

Every Jeddawi has an obsession with their city; the elderly reminisce about historic Jeddah in the old days, while the youth romanticize the modern city through photography and social media. One Saudi artist, Zaina Hassan, 23, who goes by the name ZHA on social media, chose to express her attachment to Jeddah by reimagining it through ’80s pop art....


2020-08-09

Although the COVID-19 pandemic has brought the global travel, tourism and hospitality industry to a halt, five young Saudi women have found a silver lining. The Traveling Panther (TTP), a Riyadh-based bespoke travel experience company, has turned to remote and forgotten areas of Saudi Arabia to display the country’s rich history and heritage....


2020-08-08

In the wake of the devastating blast that took place in Beirut, Lebanon on Tuesday evening, many stars have come forward to share their devastation, and many have also taken the opportunity to donate money to helping those who have been severely affected. One brand that is leading the way to help raise money for the Lebanese Red Cross is jewellery house Repossi.....


2020-08-08

One of HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum’s favourite Dubai restaurants is set to open its doors in London in 2021. According to The National, popular DIFC hotspot Gaia is set to open in Mayfair in the second quarter of next year.....


2020-08-08

just outside Hegra is Hejaz Railway Museum, which showcases part of the Hejaz Railway network that once ran through the Hejaz, or western Saudi Arabia.Guests can learn how important the transportation system was to Islam and view some of the remains of AlUla station, including original tracks and trains. The original station, which was bombed by the British in 1917, still stands in AlUla. Tourists can take photos of the compound but are not allowed to enter.....


2020-08-08

Maha Al-Nuhait is the general manager of the sustainability program at Saudi Telecom Co. (STC). She is a board member of public and private institutions, and a member of the Youth Business Council in Riyadh. Al-Nuhait has over 20 years of working with the public, private and third sectors, in addition to being a full-time mother, working as an entrepreneur, and mentoring at nonprofit bodies.....


2020-08-08

A young Saudi is setting the pace by becoming the only woman working at a manufacturing plant as a digital transformation consultant for GE Digital in the Kingdom. Rawan Abukhaled, 23, has paved the way for hopeful young Saudi engineers to not be afraid of being the only woman in the room....


2020-08-08

On Thursday, two years after the historic currency crisis of August 2018, the Turkish lira hit a new record low against the US dollar and the euro despite the months-long failed interventions of state banks and Turkey’s Central Bank (CBRT) to prop up the currency and keep it pegged. While dollar/lira parity was just 1.31 in 2008 and 2.83 in 2016, it now reached 7.31 on Friday morning, passing beyond the psychological threshold. The CBRT announced that it is set to use “all available instrume…


2020-08-08

BP is preparing to sell a large chunk of its oil and gas assets even if crude prices bounce back from the COVID-19 crash because it wants to invest more in renewable energy, three sources familiar with BP’s thinking said. The strategy was discussed at a BP executives meeting in July, the sources said, soon after the oil major lowered its long-term oil price forecast to $55 a barrel, meaning that $17.5 billion worth of its assets are no longer economically viable......


2020-08-08

Dubai Land Department (DLD), through the Real Estate Licensing Department of the Real Estate Regulatory Agency (RERA), has announced the launch of its ‘Green List’ project, which seeks to provide additional services to the real estate professionals and empower the sector. The project is a new addition to a range of comprehensive services provided by ‘Dubai REST’, a smart real estate application by DLD.   In order to benefit from the new service and the existing ones provided by the appl…


2020-08-08

The inaugural edition of the d3 Architecture Festival is set to run from 11 to 13 November 2020 on the sidelines of Dubai Design Week, held under the patronage of Her Highness Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture & Arts Authority. Curated with Juan Roldan, Associate Professor in the College of Architecture, Art & Design at the American University of Sharjah under the theme ‘Identity, Context and Placemaking in the Gulf’, the d3 Architecture Festiva…


2020-08-08

In terms of legal forms of the active licences in Jumeirah, Limited Liability Company (LLC) ranked first at 49.5%, followed by Sole Establishment (36.6%), and Civil Company (5.3%). The legal forms also included One-Person Limited Liability Companies, Branches of Companies based in other Emirates, General Partnership, Branches of Foreign Companies, Limited Partnership, Private Joint-Stock Companies and others.   The number of stockholders in the companies operating in Jumeirah reached 25,219 inc…


2020-08-08

The Central Bank of the UAE and the Arab Monetary Fund, AMF, announced the signing of an agreement to offer clearing and payment settlement services in Emirati Dirhams, AED, through the "Buna" platform for Arab payments, after the completion of technical link operations. The announcement concludes the efforts of teams from the bank and platform to link their systems, as well as perform tests and conduct procedures aimed at making the AED the platform’s first settlement currency. Through the pl…


2020-08-08

Orient Source Hong Kong Group of Companies, OSHK, the International Commodity Trader and Project Investor, has made its foray into the UAE by launching its state-of-art 247,570 ft2 Multi-Functional Offshore & Repair Facility at the Port of Hamriyah in Sharjah along with a Trading Platform with Hamriyah Free Zone. The inauguration of the new facility was announced during a ceremony held recently to ink a partnership agreement with Hamriyah Free Zone. The deal was signed by Saud Salim Al Mazrouei,…


2020-08-08

HE Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA) welcomed a delegation headed by HE Dawood Al Hajiri, Director General of Dubai Municipality , in Moro Hub (Data Hub Integrated Solutions), a wholly-owned subsidiary of DEWA.   The visit aimed to discuss the opportunities of the joint cooperation between the two parties, where the municipality can enhance its capabilities by adopting more digital technologies to increase efforts in boosting its citizen happiness…


South East Asia

Japan-backed Patimban Port in Subang, West Java is now scheduled for partial operation in November, while its first development phase will reach completion by October despite previous delays, Transportation Minister Budi Karya Sumadi has stated. The port is located about 70 kilometers from the Karawang industrial estate in West Java, where many Japanese companies have built factories, and is expected to ease logistics in the industrial neighborhood.....


2020-08-10

Thailand’s ailing economy, particularly its tourism and agriculture sectors, is poised to get a boost from new rules that ease the private cultivation and sale of medical marijuana. The Cabinet amended the Narcotics Act on Aug 4, pending Parliament’s approval, to allow private medical operators -- a category including some traditional medicine practitioners and farmers -- to grow and trade the crop including for both export and import. The move expands a cornerstone policy of Deputy Prime M…


Tourism and Creative Economy Ministry is mulling over the possibility of establishing travel bubbles with neighboring countries in a more local scope to accelerate the rebound of  the pandemic-hit tourist industry, the ministry’s official has said.....


Bank Indonesia (BI) launched on Friday the seventh Indonesia Sharia Economic Festival (ISEF) by taking the festival fully online, the first of its kind in the country.ISEF, which was started in 2014, is an international event that brings together key stakeholders in the sharia economy, including business players, governments, associations and pesantren (Islamic boarding schools).....


2020-08-10

Remittances from overseas Filipino workers (OFWs) may drop by $5 billion this year as emerging markets, including the Philippines, face numerous challenges brought about by the coronavirus pandemic, according to Metropolitan Bank & Trust Co. (Metrobank). Pauline Revillas, research analyst at Metrobank, said the weak global demand, lower foreign direct investments (FDIs) and portfolio outflows may result in a sustained drop in remittances.....


SUKUK issuance is expected to fall by 5 per cent this year due to the Covid-19 pandemic, ending four years years of rapid growth, a report by Moody's Investors Service has suggested. Some US$77 billion in sukuk was issued in the first six months of 2020, US$87 billion in the same period of 2019 as the pandemic pared activity in Malaysia and Indonesia, Moody's said.....


Suicide continues to the leading cause of death for youths, with a total of 71 people aged 20 to 29 taking their own lives last year. CNA looks into why some young people delay seeking mental health treatment, despite growing awareness in Singapore. Kevin* has known his mind “works differently” ever since he was in Secondary 3. Things like grocery shopping may be therapeutic for some, but it is an incredibly stressful task for him. “It’s always the difficulty of choice in making the simp…


Players need to overcome obstacles and also scale up to meet new forms of demand AS THE pandemic puts pressure on the logistics sector, many industry players are turning to technology and experimenting with new business models to overcome operational challenges and chart a new future. "The lack of transparency and visibility within supply chains are...


Opening of centres delayed; more muted take-up of new spaces Expansion plans among co-working space operators have been more muted this year, with the opening of new work centres delayed and a more subdued take-up of new spaces.   But despite the quiet year thus far, co-working spaces are expected to play a key role in many businesses' return to work amid the pandemic, real estate firm Colliers International noted in a report on the flexible workspace industry last month....


2020-08-09

Myanmar should look to reopening tourist destinations to boost the domestic market in the absence of foreign travellers for the rest of this year, Mandalay’s top business body says. Mandalay, the economic powerhouse of northern Myanmar, undertook lockdown measures earlier this year to contain the spread of the coronavirus. Those restrictions, as well as disruptions to trade have taken a toll on businesses in Myanmar’s second largest city. Due to its location and history, Mandalay has attract…


Cambodian exports to the US market ballooned 23 per cent to $2.75 billion in the first half of this year from $2.24 billion in the same period last year, data from the US Census Bureau showed.....


The construction of the National Road (NR) No. 10, the western corridor linking Battambang northwestern province to Koh Kong coastal province, is 36 percent complete since it broke ground in March this year....


2020-08-09

The roll-out of mid-range 5G-enabled smartphones and attractive promotions for new flagship handsets, including the Samsung Note 20 and the upcoming iPhone 12, are likely to stoke demand in the local smartphone market in the second half, say industry pundits. Aggressive competition makes it harder to predict who will be in the pole position in the market, and it could change quarter by quarter in terms of market share, tech research firm IDC Thailand said.....


2020-08-09

Worst-case scenario puts international visits next year at just 15% of 2019 levels The Tourism Authority of Thailand (TAT) says foreign tourist arrivals next year could be as low as 15% of 2019 levels under a worst-case scenario that factors in a prolonged Covid-19 crisis....


2020-08-09

Ascend Commerce, an e-commerce arm of CP Group, is set to acquire Hong Kong-based auction platform Chilindo for 558 million baht as part of a move to complement CP's business and elevate local brands to compete at the international level. CP chief executive Suphachai Chearavanont said e-commerce is transforming into a mainstream channel to conduct business because of the coronavirus pandemic.....


2020-08-09

Press Metal Aluminium Holdings Bhd's (PMetal) subsidiary Press Metal (Labuan) Ltd is repaying US$173.11 million debt papers. In an exchange filing today, the aluminium extruder said the papers represented 43.28 per cent of the outstanding principal amount of its senior notes. PMetal had on July 28 invited the note holders to submit tenders to redeem their notes for cash.....


2020-08-09

Health, energy trends to drive growth SET-listed Energy Absolute (EA) expects to see a significant increase in demand for electric vehicles (EVs) in Thailand within five years, citing the clean energy trend, better technology and changes brought about by the coronavirus pandemic.....


Indonesian agriculture has emerged as a buttress against the pandemic’s impact on the economy this year, supported by the resilience of farmers and the accounting effects of an incidental shift in the harvest season. The sector, the second-largest contributor to Indonesia’s economy, managed to grow 2.19 percent year-on-year (yoy) in the second quarter, albeit more slowly than the sector’s yoy growth in the same period last year: 5.3 percent....


2020-08-09

Vietnam’s revenue of retail sales and services in July was estimated at 431.9 trillion VND (18.6 billion USD), up 3.3 percent over the previous month and up 4.3 percent from the same period last year, according to the General Statistics Office (GSO).Trade and service activities in July continued to increase due to policies on stimulating domestic consumption and tourism, along with government support packages to help people reduce the burden of spending.....


2020-08-09

The 4th meeting of the Vietnam-Japan Joint Committee on Cooperation in Industry, Trade and Energy was held in Hanoi on August 7 in the form of video conferencing.The meeting was co-chaired by Vietnamese Minister of Industry and Trade Tran Tuan Anh and Japanese Minister of Economy, Trade and Industry Kajiyama Hiroshi.....