India

2020-05-25

The partnership has been forged to address the woes of litchi and mango cultivators in the state due to the lockdown to contain the spread of coronavirus The India Post has partnered with the Bihar government to deliver 'Shahi Lichi' and 'Zardalu Mango' at the doorstep of people in Patna, Muzaffarpur and Bhagalpur, the department said in a statement on Sunday.....


Anil Ambani, chairman of the ADA group, can challenge the order by the Commercial Division of the High Court of England Anil Ambani, chairman of the ADA group, can challenge the order by the Commercial Division of the High Court of England and Wales, London, which said a personal guarantee disputed by Ambani is binding on him, say corporate lawyers. At the same time, Chinese banks will have to move Indian courts to enforce the order in India, they said. The British court on Friday asked Ambani…


The comment comes on the backdrop of the reports that a number of global giants are looking to shift their manufacturing facilities to other countries from China Managing Director of Kotak Mahindra Bank Uday Kotak on Sunday stressed on the cost-competitiveness of India's professionals across sectors and said that the country has potential to become the world's office. "China is the world's factory, India can be its office!" Kotak tweeted.....


2020-05-25

ITC Ltd on Sunday said it is set to acquire Kolkata-based spice maker Sunrise Foods Pvt. Ltd (SFPL), in a move that will help the company cement its position in the country’s fast-moving consumer goods (FMCG) market. ITC entered into a share purchase agreement on 23 May 2020 to acquire 100% of the equity share capital of SFPL, a company primarily engaged in the business of spices under the trademark ‘Sunrise’, ITC said in a press release.....


TCS, the group’s most profitable company, was first to announce a cut for CEO Rajesh Gopinathan For the first time in the Tata Group’s history, the chairman of Tata Sons and CEOs of all operating companies will take an estimated 20% cut in compensation as the conglomerate initiates cost-cutting measures. The move is aimed at leading by example, motivating employees and organisations and ensuring business viability, insiders said. Read more at:https://economictimes.indiatimes.com/news/company…


A limited number of flights, about 25, will be allowed to land and take off from Mumbai on Monday when flying resumes after two months. This follows hectic talks among various stakeholders after Uddhav Thackeray, Chief Minister, Maharashtra, took to Twitter on Sunday afternoon to announce that he had spoken to Hardeep Puri, Minister of State for Civil Aviation, regarding the schedule of domestic flights in Maharashtra.....


2020-05-24

The country’s largest airline IndiGo’s Bangalore-Delhi flight early on Monday will mark the resumption of air travel in India after a gap of two months, as per the final schedule drawn up by the civil aviation authorities. Over a thousand flights will take off on Monday as airlines get back to business with one third the capacity prescribed under the summer schedule. Indigo flight 6E2625 from Bangalore to Delhi at 40 minutes past midnight will mark the commencement of domestic airline oper…


India recently made a crucial change to its Foreign Direct Investment (FDI) policy. Effectively, Chinese FDI will now be subject to screening by Indian government under the exchange control law - the Foreign Exchange Management Act, 1999 (FEMA). This is intended to curb opportunistic takeovers of Indian companies by Chinese investors in the wake of Covid-19 crisis. Read more at:https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/to-restrict-chinese-investment-fema-may-not-be-the-rig…


The global pandemic has massively hit the Indian economy. More than two-thirds of startups in India need to secure additional capital in the coming weeks to row through the coronavirus pandemic, according to an industry report....


JioMart, an e-commerce venture of Reliance Industries Ltd (RIL) subsidiary Reliance Retail, has rolled out services across major cities in the country, with orders now being excepted through an online portal and an app. The services are available across Mumbai, Chennai, Kolkata, Hyderabad, Delhi, Bengaluru, various places in Kerala, Punjab and Rajasthan among others.....


2020-05-23

Plea says the app made users ‘vulnerable and prone to cyber threats’. The Supreme Court on Friday asked the government to respond to a petition seeking a ban on the use of video communications app ‘Zoom’ for official and personal purposes. A Bench led by Chief Justice of India S.A. Bobde issued notice to the Centre on the plea raising privacy concerns. The court said the government should file a reply in four weeks.....


2020-05-23

A record number of flight tickets were sold in a matter of hours after the government announced resumption of domestic flights from Monday, three travel agents said on Friday. Online travel firm EaseMyTrip sold air tickets worth more than ₹10 crore since Thursday after the government announcement, co-founder and chief executive Nishant Pitti said.....


Amid the COVID-19 lockdown, the Karnataka government on Friday issued a notification allowing factories to extend working hours up to 10 hours a day and 60 hours a week till August 21.The extension of work hours is from the current eight hours a day and 48 hours a week."In exercise of powers conferred under Section 5 of Factories Act, 1948 (Act No.63 of 1948), the Government of Karnataka is pleased to order that all the factories registered under Factories Act, 1948 shall b .. Read more at:http…


The Reserve Bank of India (RBI), which had earlier shifted a few officers to an undisclosed location as part of its business contingency plan (BCP), has now increased the deployed manpower to 150, so that the central bank’s key functions remain unaffected by the coronavirus (Covid-19) crisis.....


Folders in the name of some of the leading job websites in India also appeared on the screenshot posted by online intelligence firm Cyble. Cyber criminals have posted personal data of 2.9 crore job-seeking Indians on dark web for free in one of the hacking forums, according to online intelligence firm Cyble. The company had recently revealed hacking of Facebook and Sequoia-funded Indian education technology firm Unacademy.


410 out of 1,300 non-service companies such as ITC, Maruti Suzuki, Hero have resumed operations. About a third of non-service, manufacturing companies listed on the NSE have resumed operations partially or fully since mid-April, but demand is weak and disruptions continue to plague operations. Read more at:https://economictimes.indiatimes.com/news/company/corporate-trends/a-third-of-nse-manufacturing-companies-back-at-work/articleshow/75908657.cms?utm_source=contentofinterest&utm_medium=text&utm…


Three Chinese banks had filed a case to recover dues A UK court on Friday directed Reliance Group Chairman Anil Ambani to make an interim payment of $716.91 million within 21 days, while it vacated a pre-trial review and trial proceedings listed for 2021. The court also directed the embattled businessman to pay £750,000 as trial proceeding costs to three Chinese banks, who had filed the case to claim their dues.....


The whole world is fighting with COVID-19, a health crisis of unprecedented scale which has also turned into an economic crisis. As the way of living is changing for billions of people, life shall not be back to normal anytime soon. Experts believe there would be a 'new normal', a world which no one would have imagined a quarter ago. To enable the smooth functioning of human life in the 'new normal era', there are some technologies that would help businesses stay open and operate efficiently...…


India's online grocery market could top $3 billion in sales this year, a 76% increase over last year, as the spike in demand for home delivery of fresh produce and staples seen during the nationwide lockdown is expected to sustain through the rest of the year India's online grocery market could top $3 billion in sales this year, a 76% increase over last year, as the spike in demand for home delivery of fresh produce and staples seen during the nationwide lockdown is expected to sustain through t…


The industry, which has been lobbying for faster approvals for quite some time now, says the current pandemic should help expedite the reforms process The new drug approval process in India is expected to get simpler and faster, with the government initiating discussions on reforming the regulatory system. The Ministry of Health and Family Welfare has called a meeting of the committee constituted for this purpose on Friday, sources familiar with the developments said. This will be the second mee…


Middle East

2020-05-25

The campaign is to advocate international efforts to combat COVID-19 with Arab participation   In recognition of her leading role advocating community services in the Kingdom, the Regional Network for Social Responsibility (CSR), a member of the UN Global Compact, has chosen Princess Hind bint Abdulrahman Al-Saud as the global social responsibility ambassador.....


2020-05-25

Saudi Arabia’s Crown Prince Mohammed bin Salman has exchanged Eid greetings with senior government officials, saying that he believed the “bad (coronavirus) conditions will pass,” adding “we are heading towards the good, state news agency SPA reported.....


2020-05-25

The Saudi economy can withstand the coronavirus crisis despite the need to cut spending, Finance Minister Mohammed Al-Jadaan said on Saturday.  “The Saudi economy is able to absorb the decline in revenues and to deal with the budget deficit,” he said, adding that the government “firmly addressed this crisis with all determination, while prioritizing the safety and health of its citizens and residents.”....


2020-05-25

Crown Prince of Dubai and Chairman of The Executive Council of Dubai HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said that Dubai’s reputation as one of the safest cities in the world is not a coincidence but the result of dedicated efforts to ensure high levels of security and raise service excellence. The collaboration between various social stakeholders and the cooperation extended by citizens and residents have also been key factors in achieving this exceptional profile. This cooper…


2020-05-25

DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – marked Eid al-Fitr by lighting up the Burj Khalifa with a special message to all across the country. To commemorate the swift response, comprehensive support, and visionary leadership of the UAE Government during these challenging times, the façade of the world’s tallest tower also featured displays of the ‘UAE Gold Bullion Coins’. The gold coins were designed and launched b…


2020-05-25

- Overall compliance rate during the month was 94%   The Commercial Compliance & Consumer Protection (CCCP) sector in Dubai Economy conducted 23,735 inspections since the reopening of markets beginning Ramadan, during which 22,328 shops were found fully compliant to the precautionary guidelines. CCCP also shut down 122 shops and issued fines to 64 for non-compliance with the precautionary measures, such as wearing face masks and gloves, maintaining physical distancing, and practicing business a…


2020-05-24

Saudi Agricultural & Livestock Investment Company (Salic) said it has acquired a stake in Daawat Foods Limited (a subsidiary of LT Foods) through its subsidiary United Farmers Investment Company. The transaction in DFL entails acquisition of 29.81% stake of India Agri Business Fund, sponsored by Rabobank and 0.1% stake of Real Trust, by United Farmers Investment Company for $17.23 million, said a statement from the Saudi firm....


2020-05-24

Union Coop, the largest consumer cooperative in the UAE, said steady progress is being made on its Al Barsha – 3 project in Dubai which is now 40 per cent complete.    Work is currently underway to complete the concrete structure of the building at the end of casting the roof and floor surface, which is expected to be completed this week, said a statement from the Union Coop.    Electromechanical and finishing work has also been carried out for the basement and ground floors, it stated....…


2020-05-24

Grab your SPF Good news – you might just have enough time to enjoy Dubai sunshine before it becomes unbearably hot. Per a directive from Dubai Tourism, Dubai private beaches are back in business under strict guidelines and to celebrate this positive step towards some form of normality, we have put together a roundup of our all-time favourite beachside hotels. Because, let’s face it, after weeks in self-isolation we all deserve a change of scene......


2020-05-24

Dr. Abdulaziz Al-Qasim is a petroleum engineer and was recently selected to join the World Energy Council’s Future Energy Leaders Programme following a rigorous selection process at an international level. He is a current and past member of the Society of Petroleum Engineers, the Saudi Council of Engineers, the Innovation Ecosystem Society, the American Society of Mechanical Engineers, the Association of International Petroleum Negotiators and the European Association of Geoscientists and Engi…


2020-05-24

Families across Saudi Arabia are ringing in Eid Al-Fitr celebrations in seclusion — with none of the fast-paced hustle and bustle of what is usually the busiest night of the year — amid a 24-hour curfew in the Kingdom. This year’s Eid Al-Fitr has been met with quiet streets, closed salons and barbershops, and no lengthy queues outside chocolate stores.....


2020-05-24

Many special Eid-related traditions have been broken this year as families are forced to stay home because of coronavirus restrictions. But technology has come to the rescue with many relying on video calls to bring family members and loved ones closer. ....


2020-05-24

Iraq's Deputy Prime Minister Fuad Hussein said that Iraq has reached an agreement with Saudi companies to invest in the Okaz gas fields on Saturday, while also showing appreciation to the kingdom for refilling its ambassdor to Iraq position...


2020-05-24

Crude oil prices rose for the fourth consecutive week with signs of an easing supply surplus as a result of higher compliance with OPEC+ output cuts and the gradual lifting of coronavirus lockdowns globally.....


2020-05-24

The decision reflects His Highness’s keenness to help Emirati citizens and families live a life of prosperity and happiness. The decision, which seeks to provide citizens with housing that meets their needs, is an example of the UAE’s efforts to ensure its people enjoy the highest standards of living. Director General of Dubai Municipality His Excellency Dawood Al Hajri said the Municipality will take all necessary measures to implement the directives of HH Sheikh Mohammed. It will start dis…


2020-05-24

Employees of the Abu Dhabi National Oil Company (ADNOC) have raised AED 1 million to support UAE communities during the Holy Month of Ramadan, in partnership with Emirates Red Crescent (ERC), as part of ADNOC’s annual Ramadan initiative.Managed by ERC, the funds were used to provide thousands of iftar meals and Ramadan boxes (Mir Ramadan), which contain essential food items to families and individuals in need.To ensure the safety and wellbeing of the recipients and in line with social distanci…


2020-05-23

Real estate owners that are involved in Saudi Arabia’s Neom project will be financially compensated by the National Program for Community Development, Saudi Press Agency (SPA) reported on Friday. The program, also known as “Tanmia” in Arabic, will compensate owners in Sharma, Qayal, Al-Khuraibah, Al-Asilah, Al-Sur, Bir Fahman....


2020-05-23

Savvy Saudi restaurants have turned to social media to help deliver Eid breakfasts to doorsteps during the nationwide festival lockdown period. A mouthwatering mix of traditional and Westernized sweet and savory delights are being offered for home delivery while measures remain in place to stop the spread of the coronavirus disease (COVID-19)....


2020-05-23

Crown Prince of Dubai and Chairman of the Board of Trustees of the Dubai Future Foundation (DFF) His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said Dubai is fully prepared to tackle any challenges in the upcoming period through its strategic framework and comprehensive groundwork to envision and shape the future. The emirate is not bound by notions of what is considered impossible and does not falter in the face of difficulties and obstacles, His Highness said. Sheikh Hamdan’s …


2020-05-23

  Friends and families across Dubai are embracing a range of innovative ways to celebrate and mark Eid Al Fitr this year, all while following government protocols, social distancing and staying home to stay safe.  Dubai Festivals and Retail Establishment (DFRE) rounds up the best ways to keep everyone in the household entertained throughout the Eid holiday, connect with local communities, and most importantly, have fun while staying indoors.Live From DubaiWith Eid looking very different this…


South East Asia

2020-05-25

Boxing, massage poised to return Boxing stadiums, massage parlours, spas, cinemas, convention venues and tutorial schools are among the moderate-risk category of businesses and activities expected to be allowed to reopen for the third stage of Covid-19 lockdown easing next month.....


2020-05-25

The sharing economy must rework how it does business, as some trends may linger well past a Covid-19 recovery Unicorn startups operating under the sharing economy model have not been spared by the coronavirus pandemic, as social distancing measures and travel restrictions have dimmed their outlook....


2020-05-25

Signify, the leader in lighting innovation, is addressing the challenge of connectivity by focusing on its visible lighting communication or LiFi (Light Fidelity) and exploring new industries in Malaysia. According to Signify, formerly known as Philips Lighting, its LiFi system branded Trulifi leverages on existing and future professional luminaires for fast and reliable data transmission. Trulifi combines energy efficient light-emitting diodes (LED) lighting with a reliable, secure and high-spe…


2020-05-25

Finance Minister Sri Mulyani Indrawati said Indonesia would not compromise on the health of its population to reboot the country's economy after enduring months-long slowdown amid pandemic-related restrictions.   "There is no trade-off between health and the economy. Both are like conjoined twins who are not separated. If there is no health, there is no economy, and vice versa," Sri Mulyani said on her social media account on over the weekend. ....


Wedding decorations used to be the top-selling product for janur (palm leaf) sellers on Jl. Palmerah, West Jakarta, before the virus hit the city. Janur weavers have suffered declining sales as the city has banned almost all gatherings, including wedding receptions, in a bid to contain the virus. But as Idul Fitri approached, the sellers found a new source of hope: producing containers for ketupat (rice cakes), a staple of Indonesian Idul Fitri celebrations.......


Henry Woodward-Fisher’s job is to launch meatless meat firm Impossible Foods into new markets. Here’s how he spends his day. Henry Woodward-Fisher works for one of the most fashionable companies in sustainability. Based in Singapore, the Harvard-educated French, Spanish and Mandarin-speaking Briton is international launch manager at Impossible Foods, a company on a seemingly impossible mission: convert meat eaters to plant-based food and remove animals from the human diet by 2035.....


2020-05-25

The Ministry of Agriculture and Rural Development (MARD) has called for strengthening the management of seafood transportation across the border.Specifically, the ministry asked the National Steering Committee Against Smuggling, Trade Fraud and Counterfeiting Goods (National Steering Committee 389) and some northern provinces to intensify the control of shrimp and aquaculture feed from China to prevent the spread of a deadly new virus to Vietnam.....


2020-05-25

Vietjet is offering more than 2 million super-saver tickets priced from only 1,600 VND on all 45 of its domestic routes, the airline announced on May 24. The programme aims to celebrate International Children's Day on June 1 and Vietnamese Family Day on June 28. "This is a gift from Vietjet so children and their families can experience a joyful summer and connect in all parts of the country," Vietjet said in a statement. The tickets will be available between May 25 and June 1, 2…


2020-05-25

 Property firms are gearing up to tap opportunities from the post-pandemic recovery of the real estate market, which was predicted to soon get back on its feet.The real estate market has been frozen since the beginning of this year due to the COVID-19 pandemic.The Ministry of Construction’s statistics showed that about 80 percent of real estate sale agents were closed or temporarily halted operations in the first quarter of this year while the others maintained operations at a modest leve…


EXCISE taxes on salty snacks and fast food products could raise up to P72.97 billion on average in fresh revenue for the government each year, according to the National Tax Research Center (NTRC). Assuming a 20% excise tax on the “junk food” category, the NTRC estimated that the government could raise P61.57 billion in 2020, P66.8 billion in 2021, P72.49 billion in 2022, P78.65 billion in 2023 and P85.34 billion in 2024, or an average of P72.97 billion a year. The search for revenue to pay f…


2020-05-25

The country’s consumption and importation of alcoholic beverages are expected to rise further despite the higher excise tax on the commodities due to the government’s  tax reform program. In a report, the United States Department of Agriculture-Foreign Agricultural Service (USDA) said traders are expecting sales to continue growing by five to 10 percent each year due to robust demand.


From F&B to retail and fitness, winning Singapore businesses know they must shift gears and rethink their business models to thrive in a pandemic economy, says NUS Business School’s Lawrence Loh. After hunkering down under circuit breaker conditions for two months amid a relentless COVID-19 crisis, businesses already grappling with a collapse in demand must now shift gears. While many had hoped for a reversion to normalcy after Jun 2, the Government’s three-phase approach to reach a “new …


THAILAND'S health technology (healthtech) industry is poised for growth as the government doubles down on digitalisation of the healthcare sector, industry analysts said. Hospital systems, pharmaceuticals and information technologies such as electronic health records and clinical decision.......


2020-05-25

Banks cut interest rates for loans worth more than 1.12 quadrillion VND (49 billion USD) of nearly 322,190 borrowers affected by the COVID-19 pandemic as of May 11, a State Bank of Vietnam (SBV) report showed.The banks also extended debt payment deadlines for another 215,136 borrowers with total loans of nearly 137.94 trillion VND.New outstanding loans totalling nearly 600 trillion VND with interest rate reductions of 0.5-2.5 percentage points per year were also offered to nearly 190,000 bor…


2020-05-25

The Bangko Sentral ng Pilipinas (BSP) has more space for further monetary accommodation to soften the economic fallout from the coronavirus disease 2019 or COVID-19 pandemic, according to Moody’s Investors Service. Christian de Guzman, senior vice president for sovereign risk group at Moody’s, told The STAR the Bangko Sentral ng Pilipinas (BSP) has enough room to address the large degree of uncertainty over the pandemic......


Wanting to create a parent-friendly workplace, Ms Joerin Yao, managing director of human resource consultancy Enable Group, has been allowing employees to work from home since the business started seven years ago. But telecommuting was largely unheard of back in 2013 and some likened th


Region's US$2.7b worth of venture capital deals in Q1 was down 20.6% from a year ago: Preqin STARTUP valuations in South-east Asia are beginning to soften as the industry comes to terms with the economic impact of Covid-19, venture capital (VC) investors told The Business Times. But VCs aren't in a hurry to go bargain-hunting, as they keep a close watch on fundamentals...


From dumb-bells to bubble tea pearls, consumers are now looking for things they may not have previously wanted, as they adjust to the "new normal" amid the coronavirus pandemic. Groceries and food, indoor exercise equipment and gaming tools have emerged as the most popular categories for online shopping. Experts say this trend towards online shopping is set to continue even after countries ease restrictions, with many predicting that e-commerce will play an even larger role in the “new norma…


2020-05-24

AMS Metal Group Sdn Bhd aims to penetrate the Sabah, Sarawak, Thai and Indonesian markets under part of its five-year expansion plan. AMS is principally involved in the manufacturing and distribution of aluminium raw materials, profile, sheets, foil and coils. Managing director Keith Keh said the company wanted to meet rising demands for high-quality aluminium products. AMS, which had been operating since June 2015, was established in Singapore and now has five warehouses — two in Johor, and o…


2020-05-24

The Pattaya City administration plans to build a nine-kilometre monorail to ease traffic congestion and connect the city with the government's flagship Eastern Economic Corridor (EEC) project.....