He said that the government is more for a calibrated strategy rather than setting a big-bang target The disinvestment of IDBI Bank is gaining pace, says Tuhin Kanta Pandey, secretary, Department of Investment and Public Asset Management (DIPAM), and financial bids for the bank could be called before the end of this financial year. In a conversation with Harsh Kumar and Shrimi Choudhary, he says the government is more in favour of a calibrated strategy rather than setting a big-bang target. Edit…

Kumar Mangalam Birla, Chairman, Aditya Birla Group, said that the foray is a natural extension for the Group, which has been in the fashion retail and lifestyle industry for over 20 years. The Aditya Birla Group on July 26 ventured into the rapidly expanding Rs 6.7 lakh crore Indian jewellery market with the launch of its in-house brand Indriya. The brand aims to secure a position among India’s top three jewellery retailers over the next 5 years with an investment of Rs 5,000 crore.....

Plans to expand businesses globally focusing on FMCG, hotels, and IT services for future growth Diversified conglomerate ITC plans an investment outlay of around ₹20,000 crore in the next five years, and a “large component” of that will be going into the non-Cigarette FMCG business.....

The redeveloped building will feature a 2,000-square-foot museum dedicated to legendary Bollywood actor Dilip Kumar, along with 4- and 5-BHK luxury apartments In one of the largest real estate deals in Mumbai’s Pali Hill neighbourhood, Bollywood actor Dilip Kumar’s sea-view triplex apartment has been sold for a staggering Rs 172 crore. The property fetched an impressive Rs 1.81 lakh per square foot. This development follows months after his lavish bungalow plot was redeveloped into a luxury…

Adding fuel to the speculation, the image suggests a more aggressive, performance-oriented riding position. A year after showcasing futuristic electric motorcycle concepts, Ola Electric appears to be gearing up for a major reveal. Bhavish Aggarwal, CEO of Ola Electric, recently sent the internet buzzing by posting a cryptic image on social media that strongly hints at the company's first electric motorcycle.....

Invest India MD & CEO Nivruti Rai says along with investments, she is also working on enhancing trade and technology at the national investment promotion and facilitation agency Invest India acts as a point of reference for potential investors and facilitates investments for initiatives such as Make in India and Startup India. Set up in 2009 as a non-profit venture under the then Department of Industrial Policy and Promotion, it provides end-to-end support and is a one-stop solution for both dom…

The company's consolidated order book grew 19% year-on-year in the June quarter, with the share of international orders at 38%. Larsen & Toubro Ltd., the country’s largest engineering and construction firm, on Wednesday projected its order-book size to swell to ₹9 trillion by the end of this fiscal from ₹4.9 trillion at the end of Q1on the back of a stronger-than-ever pipeline of large projects, in a reflection of the rising activity in the infrastructure and energy space in India....

Almost all cases to see tax savings under proposed 12.5% rate regime without indexation benefit, say Finmin Finance Ministry asserted on Wednesday that the Budget 2024 proposal to eliminate the indexation benefit for property sales was not a “revenue-raising measure” and that the new capital gains tax regime will not lead to a higher tax burden on real estate transactions. On the contrary, the new regime will benefit taxpayers in “almost all cases” through substantial tax savings, source…

The video entertainment economy is expected to post 8 per cent annual growth through 2028, fueled by premium on-demand streaming, it said India’s video market is expected to reach $13 billion in revenue by 2028, boosted by the streaming industry, which has continued to invest billions of dollars in content development every year, according to a new report....

India’s largest household goods maker reported a 2.6% increase in June quarter profit. Net profit for the three months ended 30 June was at ₹2,538 crore up from ₹2,472 crore a year earlier, the company said. Consumer goods maker Hindustan Unilever Ltd on Tuesday said signs of green shoots in rural markets have surfaced with the company’s low-priced packs seeing strong offtake and categories such as hair care and soaps doing well..... More https://bit.ly/3y0KZIv   Via livemint.com

The expansion brings the number of DP World’s active trading offices globally to 161 “Global trade is in the midst of an unprecedented era of flux in the face of growing geopolitical and economic uncertainty. We have an opportunity to help businesses navigate increasingly complex supply chains, as they seek enhanced market access and streamlined but resilient logistics from factory floor to customer door. With our expanded regional freight forwarding network backed by decades of experience i…

77% of mediation cases successfully settled within a maximum of 10 days “We are committed to protecting the interests of the business community, and our mediation service represents another essential tool that enhances the competitiveness of Dubai’s favourable business environment.” Khalid Al Jarwan Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has revealed that it successfully resolved 77% of the mediation cases received during the fi…

Minister of Industry and Mineral Resources Bandar Alkhorayef has met with Vice President of Strategy and Innovation at Embraer Dimas Douglas Tomelin to discuss cooperation in the aerospace industry and localizing it in the Kingdom. They explored opportunities to enhance collaboration between the two sides and discussed leveraging Embraer's expertise in aircraft manufacturing, assembly, and maintenance to enhance the Saudi aerospace industry.Such collaboration aligns with the Kingdom's efforts to…

Diriyah Company has announced the awarding of a  $2.13 billion (SAR 8 billion) joint venture construction contract to build four luxury hotels and the Royal Diriyah Equestrian & Polo Club as part of the Wadi Safar masterplan being developed by Diriyah Company. The joint venture contractors are Urbacon Saudi Co. and Al Bawani Co. Ltd with construction work set to commence shortly on what will be another major development milestone for Diriyah Company. Contracts were officially signed today at a…

The Sustainable City – Dubai, the first fully sustainable community in the region, has announced the launch of a delivery robot pilot in collaboration with Dubai Future Labs and Lyve Global. Starting this month, three autonomous on-demand delivery robots, developed by Dubai Future Labs, will begin their trial within The Sustainable City community. These robots will provide autonomous delivery services from all restaurants and shops within the plaza area to residents, utilizing a smart interfac…

Expanding the restaurant-above-the-clouds experience: Emirates‘ Business Class passengers can now select their hot main meal between 14 days and 24 hours before departure across the airline’s all four German gateways. This further enables the airline to ensures guests always receive their favourite meals. Last year, Emirates introduced the service for Business Class passengers on its busiest routes including Hamburg, and has since expanded the offer to more points in its global network. Emir…

- Qatar Airways Unveils Highly Anticipated ‘Qsuite Next Gen’ on the First Day of the Farnborough International Airshow 2024   - Qatar Airways Group Chief Executive Officer Engr. Badr Mohammed Al-Meer revealed the new Qsuite alongside Sama, the World’s First AI Digital Human cabin crew - The World’s Best Airline also showcased its latest generation Boeing 787-9 and Qatar Executive’s Gulfstream G700 aircraft - The Qatar Airways’ exhibition stand was inaugurated in the presence of His …

Saudi Minister of Industry and Mineral Resources Bandar bin Ibrahim Al-Khorayef has met with several officials from prominent Brazilian companies specializing in the global food industry sector during his current official visit to Brazil. Discussions covered opportunities to localize food industry production in the Kingdom, transfer knowledge and innovation, and explored the latest advancements in modern manufacturing technologies in this field, as part of Saudi Arabia's efforts to achieve food …

Wadi Wajj, a revered valley in Taif Governorate, boasts a rich tapestry of history and natural beauty. Once a geographical divider splitting the city into two, it has evolved into a beloved tourist destination renowned for its lush gardens, vibrant orchards, and breathtaking panoramas. Professor Saleh Al-Khalif, an expert in Islamic history and civilization, emphasized Wadi Wajj's historical significance. He highlighted the valley's proximity to Makkah and its vital role in agriculture. The regi…

NEOM SR 2023 report details how its programs have benefited local communities NEOM, Kingdom of Saudia Arabia, July 25, 2024: NEOM, the sustainable development taking shape in northwest Saudi Arabia, has revealed that 50,000 people in local communities have benefited from its social responsibility (SR) programs over the course of a year. Released today, NEOM’s Annual Social Responsibility Report for 2023 outlines the number of beneficiaries receiving assistance from NEOM over 12 months through…

Thailand is advancing its space ambitions through the Satellite Assembly Integration and Testing Center (AIT) located at the Space Inspirium in Sriracha district, Chonburi province. Managed by the Geo-Informatics and Space Technology Development Agency (GISTDA), the AIT center is equipped with state-of-the-art facilities, including a clean room and test bench for satellite research and development. Among the users of its services are Mu Space Corp, a Thai spacecraft and satellite producer, and t…

Published by Ministry of Trade and Industry, Singapore     The "Transforming the Singapore Economy" Report celebrates the contributions of the many stakeholders who have contributed to Singapore's economic transformation over the past several years. The Report highlights Singapore's economic transformation efforts since 2016. These efforts have been marked by partnerships within and across sectors, and action across the economy to drive transformation. In particular, the Report refle…

The Monetary Authority of Singapore (MAS) (24.07.2024) published a consultation paper to subject all REITs to a minimum interest coverage ratio (ICR) threshold of 1.5 times and an aggregate leverage limit of 50%, as it simplifies leverage requirements for the sector. MAS proposes that a minimum ICR of 1.5 times apply to all REITs. This underscores the responsibility of REIT managers in ensuring that REITs can adequately meet their interest payments. The proposed threshold is set at 1.5 times as …

Dubai Police's Tourist Police Department recently visited the Tourist Police Department in Pattaya, Thailand, to strengthen cooperation and exchange expertise in tourist policing. The Dubai delegation, led by Captain Ahmad Al Fajir, Deputy Director of the Tourist Police Department, was briefed on the duties, community initiatives, and experiences of the Pattaya Tourist Police in preventing crime and enhancing safety and security in tourist areas. The delegation also visited Bali Hai Pier and lea…

Salt production in Kampot province has reached over 90,000 tonnes so far this year, an increase of more than 10,000 tonnes compared to the entirety 2023, thanks to favourable weather conditions. The province, known for its salt, has an area spanning more than 3,489 hectares dedicated to local supply....

Sime Darby Bhd and Porsche have announced the expansion of the luxury carmaker's assembly facility at Inokom, Sime Darby's motor vehicle production and assembly facility in Kulim, Kedah. In a joint statement, the partners said the local assembly facility has been expanded to 11,000 sqm to accommodate the increased capacity and introduction of a new assembly line for a second model variant, the plug-in hybrid Porsche Cayenne S E-Hybrid Coupé......

The Bangko Sentral ng Pilipinas (BSP) said Tuesday the goal to raise the share of digital payments in retail transactions to 50 percent for 2023 has been achieved. In a statement, the BSP, citing the results of its 2023 Report on E-Payments Measurement, said the share of digital payment transactions to total monthly retail payments in the Philippines grew from 42.1 percent in 2022 to 52.8 percent in 2023. In a separate briefing at the BSP office in Manila, BSP officer-in-charge Mamerto Tangonan …

Lychee, one of Vietnam’s major export fruits, has been sold well at Costco stores in Western Australia and South Australia, according to the Vietnam Trade Office in Australia. The tropical fruit was introduced to Australian consumers at Costco stores in the two Australian states on July 20 by the Vietnam Trade Office and 4waysfresh, a privately owned company that supplies vegetables and fruits direct to food processing companies and major supermarkets in Australia. More https://bit.ly/4dfUiD…

Thailand’s Satellite Assembly Integration and Testing Centre (AIT) is propelling the nation’s space ambitions and supporting the global satellite industry with cutting-edge facilities, the Geo-Informatics and Space Technology Development Agency (GISTDA) said on Monday. The AIT centre, located at the Space Inspirium in Chonburi’s Sriracha district, features a clean room and test bench for research and development of satellites..... Source nationthailand.com

23-26 July 2024 Singapore The inaugural International HealthTEC Week 2024 is a week-long extravaganza, spotlighting the cutting-edge advancements in healthcare technologies within the region. Taking center stage in the dynamic cityscape of Singapore, this event pledges to be a platform for knowledge dissemination, fruitful networking opportunities, and groundbreaking discoveries in the realm of healthcare. More https://bit.ly/4ff8HRW