India

India has been at the vanguard in combatting the COVID-19 pandemic and "really stands out" in terms of its vaccine policy, International Monetary Fund (IMF) Chief Economist Gita Gopinath said on Monday....


2021-03-09

Digital ledger app Khatabook is exploring new revenue streams, and may start offering credit and insurance products for merchants later this year. It will cater to its 8.5 million monthly active merchant base through partner firms and has already started pilots. Besides, it will look to introducing new features to improve discoverability and collections for kiranas, and make it a paid service....


Rating agency Crisil, on Monday, said its credit ratio (upgrades to downgrades) has been inching closer to 1 between October and February this fiscal, with a recovery in demand that has led to “guarded optimism” about the credit quality of India Inc. “These five months saw as many as 244 upgrades compared with 208 for the whole first half,” it said, adding that downgrades continue to be material because the end of moratorium on debt servicing has impacted vulnerable companies.....


Lack of support through VC funding is a major impediment to progress of women entrepreneurs compared to their male counterparts Last month, Whitney Wolfe Herd made history on several fronts. The 31-year-old became the world’s youngest self-made woman billionaire after taking Bumble for an Initial Public Offering (IPO) and also the youngest woman founder to take a company public....


Even as just 8 per cent of India's asset managers are women, according to Morningstar research, the number of women investors is growing Who says women and finances don't go well together? Meet new-age women, who not only take charge of their money but are also doing it in the male-dominated fields. Take, for example, Dalal Street. Even as just 8 per cent of India's asset managers are women, according to Morningstar research, the number of women investors is growing. At 5paisa.com, a listed disc…


2021-03-08

On International Women’s Day this year, Mrs. Nita Mukesh Ambani is pleased to announce Her Circle, a unique new initiative that synergises women’s power with the power of the digital revolution. This first-of-its-kind digital networking platform aims to accelerate women’s empowerment and strengthen the bonds of sisterhood globally by providing them a joyful and safe space for interaction, engagement, collaboration, and mutual support. Her Circle is envisioned to be a worldwide digital coll…


2021-03-08

The world's leading steel and mining company ArcelorMittal will invest more than ₹50,000 crore in Gujarat, Chief Minister Vijay Rupani said on Sunday, a day after its executive chairman Lakshmi Mittal called on him. "All industrialists from India and abroad, including Lakshmi Mittal, are coming to Gujarat for making investment as they count Gujarat as the best (investment) destination. Lakshmi Mittal came to meet me yesterday (Saturday). He told me that he will make an investment of mor…


With a provision to recycle capital, the fund will have an investible corpus of up to INR 2,560 crore Alternate financing platform for startups Trifecta Capital announced on Friday that Trifecta Venture Debt Fund-II, its’ second venture debt fund launched in March 2019, has been oversubscribed in its final closing. The fund, with a target of $137 million, including a greenshoe option of INR 250 crore, received investor commitments of $140 million....


Bhavish Aggarwal-led Ola Electric's Rs 2,400 crore unit is being built at record-breaking speed to become the world's largest two-wheeler plant It takes over three hours of drive and covering more than 130 km from tech hub Bengaluru, to reach the ‘Ola FutureFactory’ site in the Krishnagiri district of Tamil Nadu. The electric vehicle facility surrounded by shoe factories, temples, coconut trees, lakes and dusty roads is being constructed to become the world’s largest two-wheeler factory. A…


If savings being affected by Janaushadhi, Ayushman Bharat and decline in prices of drugs and stents are collated -- if we only take government schemes in the health sector -- poor and middle-income groups are saving around Rs 50,000 crore per year, says PM Modi Prime Minister Narendra Modi, during the 'Janaushadhi Diwas' celebrations today, dedicated the 7500th Janaushadhi Kendra at NEIGRIHMS (North Eastern Indira Gandhi Regional Institute of Health & Medical Sciences), Shillong, to the nation. …


Middle East

2021-03-08

The Saudi Space Commission (SSC) was in discussion with Europe’s OHB Corporation for partnership opportunities, the Saudi Press Agency has reported. Officials of the Germany-based aerospace firm met with SSC’s chief operating officer Majed Al-Onazi, discussing possible areas of cooperation. No further details were disclosed....


2021-03-08

Investments by Saudi Arabia’s wealth fund Public Investment Fund (PIF) will support credit growth among companies in the Kingdom, ratings agency S&P Global Ratings said on Monday. PIF, a $400 billion investment vehicle, is at the center of economic reforms to transform the oil-dependent economy....


2021-03-08

ENOC Group announced AED 86.9 million in cumulative savings from the implementation of innovative ideas submitted by its employees on the Group’s innovation programme; achieving new benchmarks in quality and excellence for the Group. Since its inception in 2012, The Group’s innovation programme has received 3,824 suggestions and implemented 332 ideas, which contributed to the Group’s significant financial savings. In 2020 alone, ENOC employees submitted 661 suggestions to the scheme. The G…


2021-03-08

Organised by Dubai Chamber, Global Partnership Series virtual event joined by 130 participants from the UAE and Kazakhstan, including diplomats, industry experts and business leaders Food security, agriculture and digitalisation of economic sectors identified as key areas where the UAE and Kazakhstan can expand ties. Kazakhstan remains one of Dubai’s largest trading partner in Central Asia, and bilateral non-oil trade has increased steadily in recent years to reach $327 million in 2019. There …


2021-03-08

Dubai’s Roads and Transport Authority (RTA) has been accredited by a recent specialised benchmarking study accredited for the superior performance in ensuring that the daily operation of the Dubai Metro complies with the standard noise and vibration levels. Such findings were made in a study that covered multiple metro systems of metropolitan cities in the second half of 2020. Abdul Muhsen Ibrahim Younus, CEO of Rail Agency, RTA, expressed his delight with this important technical achievement.…


2021-03-06

King Salman Energy Park (SPARK), the Dammam-based project backed by Saudi Aramco, added two new anchor tenants on Thursday, the Industrialization and Energy Services Company (TAQA) and AMCO....


2021-03-06

The World Bank has approved a $440 million loan to modernize signalling and upgrade track on 763 km of Egypt’s 5,000 km rail network, the bank said in a statement.Egyptian National Railways (ENR) will put $241 million into the project on the Cairo-Giza-Beni Suef section of the network, bringing the total cost to $681 million, the World Bank said.....


2021-03-06

The UAE’s Ministry of Industry and Advanced Technology (MoIAT) and Spain’s Ministry of Science and Innovation (MSI) signed a Memorandum of Understanding (MoU) that will see them develop an advanced technology framework over the next three years. The framework aims to foster bilateral collaboration in the areas of technological advancement, technology transfers and the deployment of key industry 4.0 technologies. Sarah Al Amiri, Minister of State for Advanced Technology, and Pedro Duque, Spai…


2021-03-06

DP World’s business model and vision are aligned with President Jokowi’s vision to spur faster economic growth through trade infrastructure development, more investment opportunities, and job creation. Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World - A strategic partnership between DP World and CDPQ’s joint platform and Maspion Group for a US$1.2 billion container port and industrial logistics park in East Java - Project will develop infrastructure and enable trade in rap…


2021-03-06

The Chamber processed 659,000 e-transactions and issued 632,000 Certificates of Origin last year. • 2,914 ATA Carnets worth AED 3.3 billion were issued and received by the Chamber over the same period. • Dubai Chamber’s 11 international offices held 2,388 virtual meetings in 2020 and engaged with 3,652 business leaders who are keen to enter the Dubai market. • H.E. Buamim: Proactive communication, leadership, innovation, digital preparedness and close public-private sector cooperation we…


South East Asia

AC ENERGY and Infrastructure Corp. is transferring its shares in Mindanao’s biggest coal-fired power plant project to its partner and affiliates, the parent firm of the Ayala-led energy platform told the stock exchange on Monday. Ayala Corp. said AC Energy’s transfer of all its indirect ownership interest in the project, which will have four units with a capacity of 135 megawatts (MW) each, is for a base selling price of approximately $453.24 million, subject to an agreed adjustment. The pri…


THE Philippines led an Asean members’ consensus to push the Myanmar junta to release Aung San Suu Kyi and initiate full dialogue among all parties, amid the deepening crisis and violence in that country....


Artiste Jaime Teo Chai-lin, 43, was on Tuesday (March 9) fined $65,000 for failing to prevent Twelve Cupcakes - a home-grown confectionery chain which she co-founded - from underpaying its foreign workers. The Singaporean, who is also a former model, pleaded guilty on Feb 4 to 10 charges under the Employment of Foreign Manpower Act....


AirAsia said it is celebrating the opening of more domestic destinations for leisure travel by offering tickets for only P0.25 (25 centavos) to all destinations, the lowest fares for the year....


ANIMATION outsourcing studios in the Philippines are experiencing a worker shortfall as demand for their services surged during the pandemic, an industry group said. Demand for animation from global entertainment companies has been increasing amid the coronavirus health crisis as lockdowns slow down live-action filming, Animation Council of the Philippines, Inc. (ACPI) President Juan Miguel del Rosario said in a phone interview. The Philippines is an outsourcing hub serving animation studios ba…


2021-03-09

The country’s importation of bicycles surged last year as the pandemic restricted public transportation with the government keen on building more protected bike lanes in the country. Citing data from the Bureau of Customs, the National Economic and Development Authority (NEDA) said bicycle imports soared 112 percent to 2.1 million units in 2020....


2021-03-09

GOMO, a "digital telco" originally launched by Singapore Telecommunications (Singtel) in the city-state, is seeking to take a share of the pie in the booming Philippine mobile broadband market with no-expiry and unlimited data deals. The digital telco brand is attempting a head-to-head battle against DITO Telecommunity's "unlimited" mobile service with the launch of its unlimited data promo for 30 days, GOMO said in a statement....


Dito Telecommunity Corp. plans to meet its commitments ahead of schedule, as this will allow the company to capture a third of the telco market, which, according to a ranking official, is sufficient to make the third telco profitable....


THE Bangko Sentral ng Pilipinas (BSP) will not stop liquidity measures until the economy has recovered, BSP Governor Benjamin E. Diokno said on Monday. “We don’t have plans of stopping or taking away the liquidity measures that we have released until such time that the economy has recovered,” he said in an interview with ANC on Monday....


2021-03-09

The Department of Human Settlements and Urban Development (DHSUD) is keen on boosting housing projects in the country to help revive the local economy. DHSUD chief Eduardo del Rosario said the agency is bent on carrying out more housing projects nationwide in coordination with key shelter agencies....