India

The funds raised will be strategically deployed to build offline presence, invest in brand building, and drive product innovation Koparo, a sustainable home and personal hygiene D2C brand, has raised $1.5 million in a pre-Series A round led by Saama Capital. Joining as co-investors are new institutions Fluid Ventures and M Venture Partners along with new angels Rajesh Sawhney (founder and CEO, GSF Accelerator), Sridhar Sankararaman (Multiples PE), and Ramesh Menon (ex-Future Group, Hypercity)...


2023-06-06

Schneider Electric will design a high-tech smart, sustainable campus with training labs for NAMTECH, an ArcelorMittal Nippon Steel India (AM/NS India) education initiative. Schneider Electric, the global leader in the digital transformation of energy management and automation, and ArcelorMittal Nippon Steel India (AM/NS India) – a joint venture between ArcelorMittal and Nippon Steel, two of the worlds leading steelmakers, has announced the signing of a Memorandum of Understanding (MoU) …


While Morgan Stanley projected a 6.2 per cent GDP growth forecast for India in FY24, Nomura estimated the Indian economy to grow at 5.9 per cent in 2023 India, along with Southeast Asian countries such as Indonesia, is expected to sustain growth in the medium-term in Asia region, replacing China as the key growth driver, Morgan Stanley and Nomura said in two separate reports released on Monday......


Go First outlined its business plan to restore operations till November. Find out how the airline hopes to come back on its feet Wadia Group-owned no-frills airline Go First on Monday sought the approval to restart flights with 22 aircraft for the next five months from the Directorate General of Civil Aviation (DGCA).   Go First outlined its plan till November and said it aims to restart operations with military charter flights and then commercial flights...


2023-06-06

Over the last few years, Arvind Fashions Ltd has overhauled its business and parted ways with several brands to make its portfolio lean. In 2020, it ended its deal with American casual clothing brand Gap; and in 2021, it sold its Unlimited retail business to V-Mart Retail Ltd as it pursues a plan to build fewer but bigger brands....


Climate start-ups have the ability to address local problems such as improving water access and enhancing agriculture, issues that align with the objectives of CSR budgets  The allocation of Corporate Social Responsibility (CSR) funds to start-ups has been a subject of debate because of uncertainty regarding the actual impact of start-ups on  society and their ability to address social and environmental issues. No surprise, of the total CSR spend of more than ₹20,000 crore in India, less th…


The buying interest in the market amid consolidation continued for yet another session on June 5, backed by auto, select banking and financial services, metal and pharma stocks. Positive Asian cues also aided the northward journey of the Indian equity benchmarks.


The partnership between TagZ Foods and Shikhar Dhawan is set to roll out soon, with a range of marketing and advertising campaigns planned to promote the brand' snacking experiences TagZ Foods, a Bengaluru based urban snack brand, has announced that it has roped in Shikhar Dhawan as Investor and brand ambassador. This Indian cricketer, known for his dynamic batting style, passion for fitness and strong appeal among young consumers, is a perfect fit for TagZ Foods that is committed to providing f…


Two-wheelers, three-wheelers, passenger vehicles, and commercial vehicles grew by 9 per cent, 79 per cent, 4 per cent, and 7 per cent, respectively. The latest data from the Federation of Automobile Dealers Associations (FADA) claims auto retail sales in India experienced a 10 per cent year-on-year (YoY) growth in May.


2023-06-05

The Department for Promotion of Industry and Internal Trade (DPIIT) has officially recognized 92,683 entities as startups as of February 28, 2023, since the launch of the Startup India initiative, according to government statistics....


Middle East

Organized by global business events and consulting firm Trescon, this installment of the World AI Show is being held under the patronage of the private office of Sheikh Saeed Bin Ahmed Al Maktoum. Billed as "the world's longest running artificial intelligence (AI) show series," the 41st global edition of the World AI Show is set to take place from 7-8 June 2023 in the UAE at the Jumeirah Emirates Towers in Dubai.....


This partnership aims to create a synergetic collaboration using Nomu Group's procurement forecasting and fulfilment tools and Jalebi's inventory optimization and restaurant operations technology. Nomu Group, a Riyadh-headquartered food supply chain management startup, and Jalebi, a Dubai-based restaurant operating system (ROS), have entered into a partnership with an aim to introduce innovative tools and technologies in the MENA region's restaurant industry.....


2023-06-06

Saudi Arabia’s non-oil sector posted substantial momentum in May according to a business survey, as the Kingdom’s economic diversification strategy continues to progress.  The latest Riyad Bank Saudi Arabia Purchasing Managers’ Index report, formerly the S&P Global Saudi Arabia PMI, revealed that the Kingdom’s PMI stood at 58.5 in May, well above the 50 reading, indicating economic growth.....


2023-06-06

Mace Group’s services match premium standing of Uptown Tower The 81-storey tower is set to officially launch in the coming months with handovers to residents and office tenants Mace’s sustainability and ESG credentials as a carbon neutral entity were a leading factor in the appointment DMCC has appointed the renowned global consultancy and construction firm, Mace, as the building operations management entity for its soon-to-be-launched Uptown Tower. Bringing its international expertise to b…


2023-06-06

Dubai Electricity and Water Authority (DEWA) is keen to enhance its leading position globally in social responsibility, and the promotion of environmental, social, and economic sustainability. DEWA embodies the civilised and humanitarian approach that distinguishes the authentic Emirati society, which is based on solidarity among its members and organisations and connected with the highest forms of generosity. In 2022, DEWA continued its relentless efforts to serve society according to an integr…


2023-06-06

- AccelerateHER, a three-month accelerator programme for women, includes mentorship, workshops, and networking opportunities, and starts in September 2023. - Applications now open to aspiring women professionals in early stages of their financial services careers in Dubai. Dubai Islamic Bank (DIB) and Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa, and South Asia (MEASA) region, has partnered for the 7th edition of AccelerateHER.…


2023-06-06

Careem BIKES will be available freely at 186 docking stations in Dubai in unlimited 45-minute rides Dubai’s Roads and Transport Authority (RTA), in partnership with Careem, announced the offering of Careem BIKE rides free of charge for customers at 186 docking stations across Dubai for an unlimited number of trips, provided the single trip does not exceed 45 minutes.  The offer will be valid on Saturday, June 10th, 2023 to mark the World Environment Day, celebrated on June 5th annually.  The…


2023-06-06

Prime Minister Pham Minh Chinh received Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi of the United Arab Emirates (UAE) in Hanoi on June 5, calling on the UAE to work closely with the Vietnamese Ministry of Industry and Trade to soon finalise talks on the bilateral Comprehensive Economic Partnership Agreement (CEPA). The host leader hailed the two sides’ efforts to promote negotiations on the CEPA, especially when the two countries are celebrating the 30th founding anniversary…


2023-06-05

Marking a significant milestone for Saudi Arabia’s new world-class carrier as it prepares to start operations, Riyadh Air secured the “RX” designator code from the International Air Transport Association.   Riyadh Air CEO Tony Douglas made this announcement at the IATA’s 79th annual general meeting being held in Istanbul, Turkiye...


2023-06-05

Saudi Arabia has signed a contract with Iraq to establish a commercial project worth $1 billion in Baghdad, bolstering the economic ties between the two nations, reported the Iraqi News Agency.  Abdulaziz Al-Shammari, the Saudi ambassador to Iraq, revealed that the Kingdom inked a contract with Iraq to develop a massive commercial project near Baghdad International Airport, according to the INA. ......


South East Asia

2023-06-06

Khazanah Nasional Bhd recently led a Series B fundraising round of a Malaysian homegrown insurance technology company, PolicyStreet, raising a total of US$15.3 million or about RM67 million. Khazanah managing director Datuk Amirul Feisal Wan Zahir said the fund's investment in PolicyStreet sought to improve insurance penetration within the unserved and underserved segments which advocates inclusivity, better financial protection, increasing household resilience and financial well-being.....


2023-06-06

Wind, solar facilities to add capacitySET-listed WHA Utilities and Power (WHAUP), which provides utilities under Thailand's and operator, is planning to acquire new wind and solar power generation facilities with a capacity of 50-100 megawatts Vietnam to benefit from growing energy demand there.... link:https://www.bangkokpost.com/business/2585821/whaup-to-acquire-assets-in-vietnam


Cambodia earned $164.111 million from the export of “furniture, lighting signs, prefabricated buildings” in the first four months of 2023, down 28.82 per cent year-on-year from $230.544 million and down 52.01 per cent half-on-half (compared to July-October 2022) from $341.97 million, according to provisional Customs (GDCE) data in “International Merchandise Trade Statistics” bulletins. This category of items, corresponding to Chapter 94 of the Harmonised System (HS) of Tariff Nomenclatur…


2023-06-06

Prime Minister Pham Minh Chinh received Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi of the United Arab Emirates (UAE) in Hanoi on June 5, calling on the UAE to work closely with the Vietnamese Ministry of Industry and Trade to soon finalise talks on the bilateral Comprehensive Economic Partnership Agreement (CEPA). The host leader hailed the two sides’ efforts to promote negotiations on the CEPA, especially when the two countries are celebrating the 30th founding anniversary…


2023-06-06

Consumer price growth softened in May as the domestic economy swallowed the Bangko Sentral ng Pilipinas’ aggressive rate hikes, supporting the case for a longer pause in monetary action. Inflation eased 6.1% year-on-year in May, slower than the 6.6% outturn recorded in the previous month, the Philippine Statistics Authority reported Tuesday....


While Morgan Stanley projected a 6.2 per cent GDP growth forecast for India in FY24, Nomura estimated the Indian economy to grow at 5.9 per cent in 2023 India, along with Southeast Asian countries such as Indonesia, is expected to sustain growth in the medium-term in Asia region, replacing China as the key growth driver, Morgan Stanley and Nomura said in two separate reports released on Monday......


TOURISTS in Indonesia are discovering the benefits of mangroves as the archipelago pushes to replant or conserve carbon-rich coastal areas that have been decimated by human activity. Connie Sihombing, a 50-year-old resident of Jakarta, does not mind that she can hear traffic or planes flying above as she paddles her kayak through murky waters and the arching roots of mangrove trees.....


THE buy now, pay later (BNPL) segment of the personal loan market has come under greater scrutiny, with Australia announcing it will introduce new laws governing these unsecured credit players and the United Kingdom drafting legislation to regulate the sector. Singapore has adopted a “light touch” approach to BNPL regulation. A BNPL working group – formed by the Singapore Fintech Association (SFA) and BNPL industry players, under the guidance of the Monetary Authority of Singapore (MAS) …


2023-06-05

In a worst-case scenario, Thailand might have to wait until 2024 for a new prime ministerThe Move Forward Party (MFP) and seven coalition political partexpected to ascend to power in early August. However, if their bid fails, the country may have to wait until Mayfor a new prime minister, according to a timeline to set up a new government announced by Deputy Prime Minister Wissanu Kreaduring a cabinet meeting last month.... link:https://www.bangkokpost.com/business/2585199/timeline-unnerves-some…


CEBU-BASED software development consulting firm Symph Inc. is leveraging on the growing demand for artificial technology (AI) to boost its revenues by a fifth, while helping “transform the way Filipinos live and work.” CEO Dave Overton said AI is a “new frontier” that Symph can continuously explore and dive into, as he noted that the opportunity in the space is “very big both locally and internationally.”....