India

2019-07-19

Reliance Industries Ltd (RIL) is likely to report a muted first-quarter performance as gains from its telecom and retail arms will be negated by its weak refining and petrochemicals business, according to analysts. RIL will report its first quarterly earnings on Friday. According to a Bloomberg poll of 11 brokers, RIL's consolidated net sales are expected to come in at ₹1.45 trillion and net profit is estimated at ₹9,706.20 crore by 13 brokers. Five leads to watch out for in RIL's first…


RK Singh said the power ministry will withstand pressure but not let power flow from August 1 to states that do not submit bank guarantees  Power and renewable energy minister R K Singh said the government will usher in a wave of reforms with policy and regulatory interventions to create a viable power sector for investors and consumers. In an interview with Himangshu Watts and Sarita Singh, he said the Centre was not siding with the erstwhile N Chandrababu Naidu regime but was concerned abou…


2019-07-19

The Civil Aviation Administration of Vietnam (CAAV) has granted approval to the low-cost carrier Vietjet Air to conduct flights between the capital city of Hanoi and India’s New Delhi.The approval was made based on the Agreement on Air Transport between the Vietnamese and Indian Governments. Currently, Vietjet operates around 400 flights daily, carrying more than 80 million passengers to date, with 119 routes covering destinations across Vietnam and international destinations such as Japan, H…


2019-07-19

Close on the heels of unveiling a host of incentives for electric vehicles, the Union government is now urging states to promote eco-friendly vehicles in an effort to curb rampant pollution afflicting most of the major cities. The ministry of road transport and highways has asked all states and Union territories (UTs) to provide incentives for electric vehicles (EVs). In a letter to the principal secretaries (transport) and transport commissioners of the states and UTs on 17 July, the ministry …


A high-powered committee of Chief Ministers for the transformation of Indian agriculture met here on Thursday. The discussion focussed on the immediate need to accelerate the growth of the food processing industry, which is growing at a mere 1 per cent annually, and find ways to encourage the infusion of technology and private investment to modernise agriculture. The committee held its first meeting amid the prevailing farm distress in the country and growing discontent among farmers over shrink…


There may be a silver lining in the dark cloud that is the auto industry — the sports utility vehicle (SUV). Indian buyers have been lining up for SUVs, making 100,000 to 150,000 bookings. And while carmakers have seen a 10% market decline between January and June this year, SUV sales have shrunk by a much more modest 1.8%. New launches of MG Hector, Hyundai Venue, Kia Seltos, Mahindra XUV 300 and Tata Harrier have been greeted with enthusiasm by prospective customers.  Read more at://econo…


Proposes several changes to check rampant resignations As part of its efforts to rid Corporate India of scams and frauds fuelled by financial opaqueness, SEBI is turning up the heat on auditors by making them more accountable. Financial auditors of a company will now not be able to casually resign without finalising the audit report for the full year if they have signed previous quarterly reports. Besides, the auditors will have to provide proper reason for resignation and would have to state i…


2019-07-19

Vodafone Idea Ltd. has hired Bank of America Corp. and Morgan Stanley to help sell its fiber assets as India’s largest mobile carrier by users seeks to bolster its finances, people familiar with the matter said. The bankers will initiate discussions with potential buyers for the fiber assets, which could be valued at as much as ₹130 billion ($1.9 billion), the people said, asking not be identified as the talks are private. A final decision has yet to be made on the valuation and the stake …


Traditional weavers and artisans in the handicraft industry have long struggled to survive due to the advent of powerlooms SHARE   SHARE   SHARE EMAIL   SHARE   COMMENT Aimed at capacity building for 5000 weavers, artisans in five states After engaging with business professionals, Entrepreneurship Development Institute of India (EDII) will now look to develop entrepreneurial competencies in about 5,000 weavers, artisans and traders to promote hand-made art.


2019-07-19

Cargo Transportation on National Waterways has increased by 997.26% in 5 Years. #InlandWaterways


Prime Minister Narendra Modi is the world’s most admired Indian according to an annual study by YouGov, an internet-based market research and data analytics firm headquartered in UK. The survey, conducted through online voting, lists the world’s most admired men and women, and while Modi holds the highest position of all the Indians on the list, his global ranking is number six. Modi is the only Indian politician on the list. The remainder of the Indian presence is made up only of Boll ..…


From the cost optimization and scalability of the public cloud to the security and reliability of the private cloud, enterprises can avail the maximum benefits while minimizing the risk factor Global research and advisory firm Gartner projects that through 2022, enterprise IT spending for cloud-based offerings will grow faster than traditional (non-cloud) IT offerings. Cloud shift across key enterprise IT markets is expected to increase to 28per cent by 2022, up from just 19per cent in 2018. The…


Entrepreneur Anand Ahuja needs no introduction. The man is quite popular for various reasons. From launching the brand ‘Bhane’ which youngsters can relate with to being a co-owner of 'VegNonVeg' - a multi-brand sneaker store to tying the knot with Bollywood’s beguiling diva Sonam Kapoor, the man is always making headlines. The 35-year-old entrepreneur doesn’t just have a fresh scope with it comes to bringing comfy-fashion statement in the market but at the same time also keeps up his sty…


2019-07-18

eBay has agreed to buy a 5.5% stake in e-commerce marketplace Paytm Mall in a renewed attempt by the San Jose, California-based company to grab a foothold in India’s fast-growing and intensely competitive online retail market. The companies did not disclose the value of the transaction in a joint statement on Wednesday. eBay and Paytm Mall also did not say whether the agreement contains any provision for eBay to enhance its shareholding in Paytm Mall in the future. A person with direct knowl…


The RBI has placed significant responsibility on statutory auditors of banks over the last one year  Audit firm partners who are in the midst of any disciplinary proceedings will be barred from signing the balance sheet of any bank or even engage in the audit process. This is the latest directive to banks from the Reserve Bank of India (RBI) which over the last one year has placed significant responsibility on statutory auditors of commercial banks. Thus, even chartered accountant firms which …


2019-07-18

Union Minister Som Parkash on Thursday hailed the restoration of tri-weekly Delhi-Amritsar-Birmingham Air India flight after Pakistan opened its airspace for civilian planes. In a tweet, Parkash thanked Civil Aviation Minister Hardeep Singh Puri for the flight restoration......


The initiative could be a game changer for the two rival telcos as well as the consumer conglomerate Indian telecom giants Bharti AirtelNSE -1.00 % and Reliance Jio are in talks with Hindustan UnileverNSE -1.39 % (HUL) for tie-ups to offer localised discounts on the latter’s home and personal care brands through neighbourhood stores, three persons familiar with the matter, said. Once finalised, the initiative could be a game changer for the two rival telcos as well as the consumer conglomerat…


Cites anonymous complaint received by the Securities and Exchange Board of India as the reason The Board of directors of CARE Ratings Ltd on Wednesday decided to place Rajesh Mokashi, Managing Director & CEO, on leave with immediate effect, until further notice, the credit rating agency said in a late evening stock exchange notice. This move is pending the completion of the examination of anonymous complaint received by the Securities and Exchange Board of India (SEBI) and forwarded to CARE R…


2019-07-18

Home-grown restaurant search and delivery platform Zomato on Wednesday took to Twitter to "take up" the cause of urging users to save water in order to keep preparing morning cups of tea. The food-delivery platform tweeted. "SAVE WATER. Otherwise chai kaise banaoge?" Twitterati erupted with hilarious responses. "SAVE WATER, otherwise hostel ki daal me 90 per cent kya hoga? a user posted......


Changes have been made in the visa manual to facilitate the entry and stay of legitimate visitors.  The home ministry has liberalised India’s visa rules to simplify the entry of foreign nationals and give them greater flexibility in terms of permitted activities. The main visa categories, apart from those issued for long-term visits and to SAARC members and Overseas Citizens of India, have been scaled down to 21 from 26 by clubbing common groupings. These include combining the medical atten…


Middle East

2019-07-19

  Carioca NoMundo Premiered Jul 12, 2019 I flew Emirates A380's first class, between Dubai and São Paulo, and, in this new video, I show you the complete experience of the 14 hour and 20 minute flight. There's a tour full of details of my suite, the champagne and caviar service, a full tour of the A380 lounge, and, of course, a shower in the exclusive first class shower spa. I hope you enjoy the video! Please, give it a LIKE, SUBSCRIBE to the channel and click on the bell to get the notificati…


Citymax Hotels, the mid-market hotel brand, has announced the opening of a ladies-only floor, at one of its Dubai properties. The operator said it is a first for Citymax Hotels and will be available for bookings at the newly opened Citymax Hotel Al Barsha. Following the launch of the new hotel, female travelers are now able to have an entire floor to themselves. Guests will also be attended to by an all-female service team......


2019-07-19

The National Cybersecurity Authority (NCA) has warned people against using the viral face-transforming mobile application FaceApp, citing the software’s use of personal information. The app allows users to upload photos of their faces and have them edited to look older, a popular trick that filled the social media feeds of millions of users spread over more than 100 countries. Cybersecurity concerns over how the photos could be misused by the app raised concerns among many users, and the NCA h…


Technology and tourism jobs in Saudi Arabia saw strong growth in the second quarter of 2019, according to the latest Monster Employment Index (MEI). Overall, Saudi Arabia registered a 13 percent growth in online job postings in Q2 compared to the same period last year. The increase in online hiring activity was led by the IT and Telecom/ISP industry and occupations in Hospitality, which registered growth of 29 percent and 22 percent respectively......


The Peace Visit produced by National Geographic, which highlights the visit of Pope Francis to Abu Dhabi, will be distributed later this year A documentary film produced by National Geographic, which highlights the historic visit of Pope Francis to Abu Dhabi in February, will be distributed later this year. Interfaith leaders from Washington DC and the UAE gathered at the National Geographic headquarters earlier this week for an exclusive premiere of The Peace Visit, state news agency WAM report…


2019-07-19

It is a great honor for me to be featured in this space, not only to be representing the young women of society but also to be able to share my personal background story. I am privileged to have been brought up in a home where both my parents did not discriminate between genders but rather promoted equality and equal opportunity and education among me and my siblings. This shaped me into becoming the eager, persistent, determined, and some would even say competitive, person that I am. My father …


2019-07-19

Nasdaq Dubai welcomed the listing today of a one billion US dollar Sukuk and a 300 million US dollar conventional bond issued by global trade enabler DP World. DP World is the largest UAE debt issuer by value on the region’s international exchange, with Sukuk and conventional bond listings now totalling 8.09 billion US dollars. The 300 million US dollar conventional bond that listed today was a tap issuance on a one billion US dollar bond that DP World issued in September 2018. DP World operat…


For those with family and friends back home in India, visiting the United Arab Emirates (UAE) could be a hassle free process if they are already residency visa holders of the UK or the European Union. The General Directorate of Residency and Foreigners Affairs (GDRFA) in Dubai has issued a reminder to residents that may wish to bring family members and friends on a visit to the UAE, the Gulf News reported. A video, uploaded on the GDRFA's social networking sites earlier this......  Read more …


2019-07-19

مؤسسة المواصلات العامة - عجمان في اسبوع


At Arabnet Beirut 2019, Entrepreneur Middle East talked with Ogero Chairman Imad Kreidieh on his enterprise's mission to revamp Lebanon's telecom landscape, and thereby become "at par with regional operators, and provide the Lebanese citizen with state-of-the-art connectivity."  Ogero -referred to as the “engine” for the country’s Ministry of Telecommunications- has been tasked with upgrading the nation’s existing copper wire infrastructure with fibre optic cables, which is expecte…


Oman Power and Water Procurement Co (OPWP), the country’s sole procurer of electricity and water, has announced the launch of two solar projects with a combined capacity of around 1.1GW. OPWP said in a statement that it has invited proposals for the development of the projects which will "attract investment of multiple hundreds of million dollars". The solar projects are part of the sultanate's bid to diversify energy sources and to reduce dependence on natural gas for the production of electr…


Plans to establish a spaceport in the UAE will hinge on a number of key criteria being met, according to the chairman of the UAE Space Agency, Dr Ahmad Al Falasi. Speaking on the sidelines of the agency’s fifth anniversary celebrations in Abu Dhabi, Al Falasi told Arabian Business that discussions for a spaceport were ongoing. However, he said: “Our discussions right now are of opening a spaceport potentially in the region in the UAE but it’s still in the early stages.......


2019-07-18

Egypt’s economy grew 5.6 percent in the 2018/19 fiscal year and is “on the right track” as it completes IMF-backed reforms, Prime Minister Mustafa Madbouli said on Wednesday.The budget deficit came in at 8.2 percent of GDP, he said, which was slightly below an official forecast of 8.4 percent.Egypt is emerging from a three-year economic reform program tied to a $12 billion loan from the International Monetary Fund.Madbouli said Egypt’s primary surplus stood at 2 percent for the fiscal ye…


2019-07-18

Iranians feeling the squeeze from US sanctions targeting the Islamic Republic’s ailing economy are increasingly turning to such digital currencies as Bitcoin to make money, prompting alarm in and out of the country.In Iran, some government officials worry that the energy-hungry process of “mining” Bitcoin is abusing Iran’s system of subsidized electricity; in the United States, some observers have warned that cryptocurrencies could be used to bypass the Trump administration’s sanctions…


Real estate developer Emaar Properties has announced plans to build its first 3D printed home in Dubai. This is the first step towards Emaar’s ambition to be a leading adopter of advanced construction technologies, the company said on Thursday. Following a global competition, Emaar said it has awarded the contract to 3D print a model home in Arabian Ranches III, adding that the construction will be facilitated using a local contractor......


2019-07-18

Mohamed Ali Musabbeh Al Nuaimi, Chairman of Ras al Khaimah Chamber of Commerce and Industry, and Samata Gifty Bukari, Consul-General of the Republic of Ghana in Dubai, have discussed strengthening bilateral business cooperation and investment opportunities in different sectors. Al Nuaimi underscored the importance of enhancing ties with Ghana, and the private sector in both countries through facilitating meetings of business communities from both Ras Al Khaimah and Ghana. He emphasised that Ras …


2019-07-18

DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – and the Department of Economic Development (DED), the Government of Dubai entity that regulates the economic activity of all onshore companies, have signed a strategic agreement to collaborate on the licensing of companies in Dubai allowing them to operate within the Free Zone and onshore. The partnership aims to further facilitate trade and boost economic activity in the emirate. …


2019-07-18

The big day had finally arrived, and Mohamed Al Dosari spent the morning in eager anticipation of the moment he would make history. As soon as he strapped himself into the Cirrus, his trained mind took over. He finished the pre-flight checks, taxied, accelerated and took off into the clear blue skies, marking a huge milestone for regional aviation. This was Mohamed’s first solo flight – a defining and unforgettable moment in his career. And importantly, it marked the start of solo flights by…


2019-07-18

Challenging the world to find new solutions to protect marine habitats from brine discharge Call for ideas Five potential winners will present at Amsterdam International Water Week (AIWW) Winning ideas will be developed in partnership with the Red Sea Development Company Up to three $10,000 cash prizes available for viable ideas Competition The session will include short concept presentations from 5 potential winners, who will compete for 3 first prizes of $10,000 each, that will be awarded at t…


2019-07-17

[The article was posted on kaust.edu.sa] You will never see one with your naked eye or through a conventional optical microscope, but quantum dots are changing the world. Thanks to their remarkable superpower properties, scientists think they will soon be used in everything from light bulbs to the imaging of cancer cells and in the design of next-generation ultra-efficient solar cells. Miniscule in size, quantum dots are small semiconducting nanoparticles just several nanometers in length—or …


South East Asia

Gaming industry players in the Mekong Region will be descending on Cambodia in a few months for one of the biggest regional events of the industry in the last few years. Ros Phirun, director-general of the Ministry of Commerce, confirmed in an email yesterday that Cambodia will be the venue of the Mekong Gaming Summit. The event will be held at Sofitel Phnom Penh Phokeethra on September 10-12.....


2019-07-19

Telco giant PLDT Inc. is deferring to next year the commercial rollout of its 5G services next year  to have  clearer view of the use cases for the new technology. “I don’t think it will happen this year. But certainly sometime next year, early next year,” PLDT chairman and chief executive officer Manuel V. Pangilinan said yesterday. PLDT was initially eyeing to launch 5G services for home broadband and enterprise customers by the fourth quarter this year. Read more at https://www.philst…


PT Patra Jasa, a diversified subsidiary of state-owned oil and gas holding company Pertamina, has allocated Rp 10 trillion (US$718.9 million) to finance seven property projects in various cities. “The seven projects are our main priority for this year,” Patra Jasa president director Hari T. Wibowo said on Thursday as quoted by kontan.co.id. Hari said two of the projects were in Kuningan in South Jakarta -- ePolis energy-based site that is being constructed on a 5.9-hectare plot of land and …


2019-07-19

Philippine financial technology players will continue fighting for a bite of the remittances market as they seek to take advantage of the large population of Filipino expats, a Fitch unit said Friday, adding that positive demographics should support the sector’s growth. In a report, Fitch Solutions said fintech companies have been targeting overseas Filipino workers by offering competitive exchange rates and lower transfer fees compared to traditional remitters. “We believe that fintech wil…


According to a recent report in news website Hospitality Net, Yoo Hotels & Resorts is planning to build 20 hotels under its Yoo2 lifestyle brand in Cambodia, Vietnam, Thailand, Indonesia, Malaysia, and the Philippines. Yoo Hotels is a noted leader in hotel design, brand, and marketing worldwide. It has 82 projects in 34 countries, including Brazil, India, Vietnam, Russia, the United States, Italy, Turkey, St. Vincent & Grenadines, Israel, Thailand, and Costa Rica.......


The Indonesian Petroleum Association (IPA) welcomes the government's plan to revise Energy and Mineral Resources Ministerial Decree No.27/2006 to allow investors to access Indonesia’s oil and gas data for free. “We have waited for the open data policy for a long time. If it is executed, it can help investors to assess prospective areas for exploration,” IPA executive director Marjolijn “Meity” Wajong told The Jakarta Post on Wednesday. Meity said she believed the new policy would hel…


2019-07-19

The autonomous vehicles will provide an opportunity for the public to sample the next generation of urban mobility The Bases Conversion and Development Authority (BCDA) of the Philippines will be providing autonomous vehicle (AV) service in the New Clark City during the 2019 Southeast Asian Games. According to a recent press release, a fleet of electric P-1 Self Driving Shuttles will showcase the future of urban transportation running a service between the athletes’ village, aquatic centre an…


In a bid to reach the full-year production target of 922,000 barrels of oil equivalent per day (boepd), state-owned energy giant Pertamina recently increased its upstream budget by 10 percent from US$2.6 billion to $2.9 billion. “Honestly, it isn’t an easy target to reach. The management supports us by increasing our budget to $2.9 billion,” Pertamina upstream director Dharmawan Samsu said on Thursday, adding that investment was needed to achieve the target. Dharmawan said the increased bu…


The nation’s largest automotive company, Astra International, saw its market share decline to its lowest level in eight years at 45 percent in June, as new brands are offering better value amid overall stagnant domestic car sales. The two main factors that caused the decline in Astra’s market share are competition from new and smaller brands and broad-based and sluggish domestic car sales growth, according to industry players and observers. “The declining share is natural given all the new…


The technology behemoths of the world are rolling out digital training programs in Indonesia, a country of significant relevance to their businesses, to address literacy and skillset gaps in Southeast Asia’s largest economy. From United States tech giants Google, Facebook, Apple and Amazon Web Services (AWS) to China’s Alibaba, Huawei and ByteDance’s TikTok, they have been working alongside the government and local communities to scale up their digital trainings so that more Indonesians ca…


The government has strongly urged private distributors to buy diesel fuel from state energy giant Pertamina as long as it meets their required specifications, a high-ranking official has said.  The Energy and Mineral Resources Ministry's acting oil and gas director general, Djoko Siswanto, said the measure had been taken as Pertamina had an excess of diesel fuel.  “Yes, it's because of that [Pertamina's excess diesel supply]. It will be kept in place until there is no longer a supply excess,…


Bank Indonesia recorded that capital inflows stood at Rp 192.5 trillion (US$13.82 billion) as of July 18, indicating the strengthening of investor confidence in the country’s economy. BI Governor Perry Warjiyo said in Jakarta on Friday that Rp 118.5 trillion had entered the Indonesian financial system through government debt papers, while Rp 74 trillion entered through the stock market. He said the flow of foreign capital into Indonesia was at a high intensity that would help improve the count…


2019-07-19

CCTV cameras equipped with artificial intelligence software have been installed in strategic locations for real time monitoring of traffic situations A group of researchers from the De La Salle University (DLSU) developed software that would help authorities to quickly and more efficiently identify traffic violators. What can the system do? According to a recent press release, CATCH-ALL or the Contactless Apprehension of Traffic Violators on a 24-Hour Basis and All-Vehicle Detection System is c…


2019-07-19

Indonesia’s current and existing rules are only applicable to conventional transactions New rules that will be imposing value added tax (VAT) on online products and services, which are provided by offshore companies, are being drafted by Indonesia. According to a recent report, this is in line with the authorities’ target of getting a bigger slice of the revenue from the country’s fast growing digital market. Indonesia is the world’s fourth most populous country with 260 million people.…


2019-07-19

The Global Innovation Alliance (GIA) network now has connections to 11 cities globally – Bangkok in Thailand; Beijing, Suzhou and Shanghai in China; Berlin and Munich in Germany; Jakarta in Indonesia; Paris in France; Tokyo in Japan; San Francisco in the US; and now HCMC in Vietnam Enterprise Singapore announced the expansion of the Global Innovation Alliance (GIA) network to Ho Chi Minh City (HCMC) yesterday, helping Singapore technology startups move into the emerging innovation scene in Vie…


2019-07-19

Hundreds of “friendly” robots that speak multiple languages and sing are being rolled out across hi-tech Singapore, to help clean the city-state’s hotels, shopping malls and government buildings. Four of the robots, which have oval-shaped heads with lights for eyes, have already got down to work and it is hoped that 300 will be put into service by March next year. They scrub, mop, vacuum and sweep autonomously, and can entertain by rapping in English.The robots speak all four of multi-ethn…


2019-07-19

Hanoi aims to build 30 more new industrial clusters by the end of 2019.According to the municipal Department of Industry and Trade, in January-June, the industrial value grew by 7.71 percent against the same period last year, contributing 1.51 percentage points to the city’s gross regional domestic product (GRDP) growth of 7.21 percent.Though the growth was lower than that of the six-month period in 2018 (7.97 percent), the industrial production witnessed a strong recovery in the second quarte…


IT did not take long for the founders of music technology startup Musiio to realise that the Asian music market is a land of diverse needs.  "We have been speaking to customers and they ask if it (Musiio) can handle Chinese music, Thai music, and even Japanese or Korean," chief executive Hazel Savage said. "Whereas if we were based in London or New York, we would not even have thought of it. Being here gives us the exposure to different markets." That demand – and a dearth of supply – for…


The Asian Development Bank (ADB) has cut to 6.2 percent its 2019 growth forecast for the Philippines mainly due to government underspending at the start of the year which dragged first-quarter economic expansion to a four-year low. This was contained in the Manila-based multilateral lender’s Asian Development Outlook Supplement report released Thursday.   Read more: https://business.inquirer.net/274977/adb-cuts-19-growth-forecast-for-ph#ixzz5u65lVsPM


2019-07-19

The Civil Aviation Administration of Vietnam (CAAV) has granted approval to the low-cost carrier Vietjet Air to conduct flights between the capital city of Hanoi and India’s New Delhi.The approval was made based on the Agreement on Air Transport between the Vietnamese and Indian Governments. Currently, Vietjet operates around 400 flights daily, carrying more than 80 million passengers to date, with 119 routes covering destinations across Vietnam and international destinations such as Japan, H…