India

When it comes to data and voice services, no single operator excelled in the telecom sector. As per the recent India report by mobile analytics company Opensignal, the results across various parameters - 4G availability, video experience, voice-app experience, download speed and latency - show that each operator has expertise in specific area and some have supremacy in more than one area. Take Reliance Jio, for instance. The operator has the highest 4G availability in the country at 97.8 per cen…


2019-10-22

Apple Inc has started selling its popular iPhone XR phones assembled in India, as it looks to expand its share in the world's second-largest smartphone market where it has struggled against cheaper products from rivals. The phones are being assembled at Chinese contract manufacturer Foxconn's India factory, helping the Cupertino, California-based company avoid high levies on the import of fully-built devices as well as meet local sourcing norms for opening its own retail stores in India. iPh…


MobiKwik is fighting a broader battle against deep-pocketed rivals such as Paytm, PhonePe and GPay Naspers-owned digital payments major PayU has held discussions to acquire MobiKwik’s payment gateway business, valuing it around $45-50 million and signalling consolidation efforts in the hyper competitive sector, two people in the know of the matter told ET.Other strategic and financial investors are also in talks to buy the fintech firm’s payment business, the persons said. Read more at://eco…


The Reserve Bank of India (RBI) has told its subsidiary Deposit Insurance and Credit Guarantee Corporation (DICGC) to create a risk-based system for collecting premiums from banks to cover the deposit insurance of customers. The RBI feels that a move to charge banks, depending upon how risky they are, is a prerequisite for hiking the bank deposit insurance limit of customers from Rs 1 lakh at present, a central bank executive said. According to sources, the central board of the RBI, which met in…


Since September 2017, 1.23 crore jobs have been created. Out of which, 15.53 lakh jobs were created in between September 2017 to March 2018. A total of 61.12 lakh jobs were created in FY19. In the current fiscal 47.3 lakh jobs have been created Net employment creation in the formal sector stood at 10.86 lakh in August 2019, according to the latest Employees' Provident Fund Organisation (EPFO) payroll data. August saw the second highest net job creation numbers this fiscal, less than 11.17 lakh r…


Last week, the International Monetary Fund (IMF) lowered its GDP growth estimate for India in 2019 to 6.1% from its earlier projection of 7.3%. Observers may find even this slashed target a bit on the high side given that growth in the first two quarters of the calendar year has fallen to 5.8% and 5% respectively, with sector after sector reporting substantial slowdowns.The economic downturn is global. IMF has projected that 90% of the world economy will grow at a lower rate in 2019 th .. Read …


In Maharashtra, BJP-Sena seen to win over 200/288 seats; in Haryana, the ruling party may grab over 70/90 seats The BJP-Shiv Sena alliance is set to return to power in Maharashtra, with most exit polls predicting that the combine will get over 200 of the 288 seats in the Assembly. An aggregate of various exit polls showed that the BJP-Shiv Sena alliance may win 211 seats and the Congress-Nationalist Congress Party (NCP) combine may win 64 seats. In the 90-seat Haryana Assembly, the extent of a …


SINGAPORE-BASED fashion technology platform Zilingo on Tuesday said it will invest US$100 million across the United States to digitally transform the fashion supply chain. Part of the investment will go into hiring staff for its sales and product teams in the US, where the startup recently launched operations with offices in New York and Los Angeles. It will also help to make responsible manufacturing fast, feasible and accessible for US retailers enabled by Zilingo, while factories in the count…


Over the course of working with more than 50 start-ups, one of the most valuable learning has been the process of building a bridge of trust and confidence through multiple micro-interactions, say Siddarth and Pranav Pai For Siddarth Pai and brother Pranav, founding partners at venture capital firm 3one4, the best experiences have come from working along with start-up founders, co-investors, and their community of partners. They say it is not to claim moral superiority over other firms, but crea…


The bank said the financial assets were showcased on October 12 and the e-auction will take place on November 7 The State Bank of India (SBI) will conduct an e-auction of 11 bad loan accounts on November 7 to recover dues of Rs 466.49 crore. In terms of the bank's revised policy on sale of financial assets, in line with the regulatory guidelines, the bank will place 11 accounts for sale to ARCs/banks/NBFCs and FIs, SBI said in an auction notice. The bank said the financial assets were showcased …


2019-10-21

 Nearly a month after slashing corporate tax rates to boost domestic investment, finance minister Nirmala Sitharaman on Saturday said she will soon prepare a plan to woo multinational companies seeking to shift production to countries outside of China because of trade tensions. “I will go back and design in some way whereby I will identify those multinational corporations, American, European or British origin, who are moving out of China or who probably are even contemplating. I will make a…


Kapil Wadhawan, chairman and MD of Dewan Housing Finance Corp. Ltd (DHFLNSE 4.89 %), and his brother Dheeraj, who is a promoter of the company, were questioned over the weekend by the Enforcement Directorate (ED) over Rs 2,186-crore loans given by their non-banking financial company (NBFC) to a property firm under the scanner for alleged dealings with gangster Iqbal Memon alias Iqbal Mirchi.Other than the loans by DHFL, the ED has questioned the two, specifically Dheeraj, on the trans .. Read m…


The amendment will be made to regulate acquisitions by digital firms that don't have large assets in India, such as Facebook and escape CCI scrutiny The Centre will introduce a ‘commitment and settlement’ clause in the Competition Act. This is likely to be amended in the upcoming winter session of Parliament. The enabling clause will allow those found in contravention of the competition law to ‘commit’ to correct its ways to avoid further action even before the investigation is completed…


The Expression of Interest document to invite bids is being given final touches. Bidding for the debt-laden national carrier will be conducted through a newly-developed e-bidding system The government is reportedly planning to invite preliminary bids to disinvest 100 per cent stake in Air India. The notification inviting bids is almost ready and is most likely to be floated by month-end or next month, sources told news agency PTI. Some entities have already expressed interest in buying Air India…


2019-10-21

 Saudi Aramco, Rosneft, Kuwait Petroleum, ExxonMobil, Shell, Total SA and Abu Dhabi National Oil Co. are among companies that have had conversations with the government on asset sales and are likely to bid for the government’s stake in Bharat Petroleum Corp. Ltd, two people aware of the matter said. “While a formal interest from the potential bidders is expected in due course, all the above names are part of the list that the government will reach out to," said one of the two people cited a…


The Akhilesh Ranjan taskforce, set up to suggest an overhaul of the income tax act, has also suggested changes When the corporate tax rate was reduced to 25% last month, it was termed as an early Diwali for the corporate sector. Now, taxpayers are hoping the government will gift them a similar tax relief. According to former Niti Aayog Chairman Arvind Panagariya, “there is a strong case for a similar reform of personal income tax”.The Akhilesh Ranjan taskforce, set up to suggest an overhaul …


Asked why the BJP's campaign focused more on issues of nationalism at a time of economic slowdown, Javadekar said the "atmosphere" of slowdown prevails world over Union minister Prakash Javadekar said here on Saturday that an "atmosphere" of economic slowdown prevails world over, but India is still the "fastest developing" economy. Speaking ahead of October 21 Maharashtra Assembly polls, Javadekar also said that the BJP was banking on the government's performance, while the opposition is bereft …


2019-10-20

VTB Capital Plc in talks with two potential investors to sell a 10.71% stake in Zee Entertainment Enterprises IRCTC broke listing records for PSU IPOs and French energy major Total announced its biggest clean energy bet in India with investment in Adani Gas Mint brings you a recap of top deals news that made headlines this week, reported from newsrooms across the country Warburg, Premji to buy $432 million SBI insurance arm stake Insurance Australia Group Ltd (IAG) is looking to sell its entire…


Turkey and Malaysia are feeling the heat of India's ire as New Delhi weighs leveraging its market and economic muscle to retaliate against the two for their public statements on Kashmir as well as support to Pakistan at the Financial Action Task Force (FATF).For the present, the Indian government is content to allow popular discontent to show itself as traders stop buying Malaysian palm oil and social media trends with #boycottmalaysia.Reports have quoted industry representa .. Read more at://e…


Sources said the ED is examining the financial ties between the non-banking finance company and the Sunblink Developers Widening its probe into illegal property dealings, the Enforcement Directorate (ED) on Saturday conducted searches on Dewan Housing Finance (DHFL) premises in connection with its exposure to real estate firm Sunblink Developers, which is under the agency’s lens for its property dealings with late gangster Iqbal Memon. An ED official said searches had been carried out since …


Middle East

2019-10-22

Emirates Steel has received two patents from the United States Patent and Trademark Office. The patents reaffirm Emirates Steels’ status as an innovative leader within the regional steel industry, alongside its commitment to building a culture of innovation within the UAE, said a press release issued by Emirates Steel on Tuesday. The two patents are for Emirates Steel's innovations in power conversion and in continuous casting methods to produce a single casting strand. The first patent enable…


2019-10-22

Dubai’s Roads and Transport Authority (RTA) has introduced a smart system called DOR that tests bus tyres and keeps air pressure intact. The state-of-the-art technique enhances bus road safety and improves the performance of bus operation.  “Improving the techniques of bus testing and maintenance is part of RTA’s efforts to keep pace with Dubai Government drive to be innovative in all fields,” said Abdullah Al Mazmi, Director of Maintenance and Services of RTA’s Public Transport Agenc…


2019-10-21

Crowds gathered at different locations in the UAE on Sunday night to mark the one-year countdown to Expo 2020 in October next year, with host emirate Dubai staging a spectacular concert, topped by a light projection on the iconic Burj Khalifa. American superstar Mariah Carey was the star of the night, which also saw performances from regional artists including Khalifa, Shamma Hamdan, Abri and Funk Radius, Showcase and Jaysus Zain. The audience also grooved to a few Arabic tunes from Emirati sing…


2019-10-21

The World’s Greatest Show. Be there for what’s next in art, music, food, and tech @Expo2020Dubai #Expo2020 #Dubai


Visa, the global digital payments firm, has appointed international property developer Sweid & Sweid to build its new Dubai headquarters. The building to cater for operations in the company's Central and Eastern Europe, Middle East and Africa (CEMEA) region will increase capacity to over 500 employees, a statement said. The HQ project is on track for completion in June 2021.....


2019-10-21

The UAE Research Program for Rain Enhancement Science (UAEREP) announced its participation in the 21st edition of WETEX 2019, the leading global water, energy, technology and environment exhibition organised by Dubai Electricity & Water Authority (DEWA) under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and under the patronage of His Highness Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, Minis…


2019-10-21

• Presidents of Liberia and Seychelles, 17 African ministers and other high-ranking officials among confirmed attendees for fifth edition of GBF Africa • Buamim: Forum’s success in attracting prominent African government and business leaders reflects growing confidence in Dubai as gateway to Africa• Dubai-Africa non-oil trade reached AED136.6 billion in 2018 Heads of state, 17 ministers, high-ranking government officials and prominent business leaders from Africa have confirmed their par…


2019-10-21

Dubai’s Roads and Transport Authority (RTA) has fitted the entire Dubai Taxi fleet with surveillance cameras to monitor the conduct and compliance of taxi drivers with the ethical and professional standards of their occupation. The step also contributes to RTA’s strategic goal (People Happiness) and the Smart City initiative.   “Security cameras have been installed in 10,684 taxis comprising the entire taxi fleet in Dubai. The move aims to ensure the compliance of taxi drivers with the e…


Fireworks exploded over Dubai's skyline on Sunday (Oct 20) to mark the one-year countdown to Expo 2020, a big-budget global trade fair the glitzy emirate's rulers hope will restore its flagging fortunes. Megastar Mariah Carey headlined at a concert underneath the illuminated Burj Khalifa, the world's tallest building, where thousands gathered for the centrepiece of festivities across the United Arab Emirates.   At exactly 20:20 local time, the skyscraper was lit up with "1 year to go" and "the …


2019-10-20

In cooperation with the Massachusetts Institute of Technology (MIT), King Abdul Aziz City for Science and Technology (KACST) is organizing a forum to introduce the Ibn Khaldun Fellowship Program for Saudi women researchers with Ph.D. degrees.The forum will be held at King Abdullah University of Science and Technology, Jeddah University, Imam Abdulrahman bin Faisal University, and KACST in Riyadh.The program aims to support Saudi women scholars and give them the opportunity to conduct scientific …


2019-10-20

Hong Kong martial artist and actors Jackie Chan, who was recently in Riyadh to accept a Joy Excellence award, is looking forward to filming movies in Saudi Arabia, Chinese press has reported. The actor also told the crowd gathered at the Joy Forum19, which gathered entertainment promoters and industry pioneers along with global stars including Indian actor Shah Rukh Khan and Hollywood star Jean-Claude Van Damme, that he had found a location in the Kingdom to make another action film.......


2019-10-20

John Pagano has been involved in mega-projects around the world, but “none of them will have the impact this will have on Saudi Arabia,” he said. “This” is the Red Sea Development Company, of which he is CEO. Along with the plan to build a futuristic metropolis at NEOM in the northwest of the Kingdom, and the Qiddiya leisure resort near Riyadh, it is one of the headline initiatives of the Vision 2030 strategy to diversify away from oil dependency. The Red Sea project is special, Pagano s…


Funding for Expo 2020 Dubai-related projects will total AED30 billion ($8.17bn) by 2021. Director general of Dubai government’s department of finance (DoF), Abdulrahman Saleh Al Saleh, said a budget surplus, as a result of “prudent financial policies”, had been used to fund capital expenditure and infrastructure projects in the emirate – particularly those related to Expo 2020 Dubai. Al Saleh revealed that Dubai’s sovereign debt reached $32bn in September 2019. The emirate’s public d…


2019-10-20

Do your bit Did you know that globally a third of all food produced — 1.3 billion tonnes per year — ends up as waste? When you look closer at the UAE, Ministry of Climate Change and Energy previously said food waste costs the country Dh13 billion annually. Recent statistics further reveal that restaurants contribute 32 percent of the total, so who is better to help navigate us through to recovery than one of the best chef’s in the world, Massimo Bottura......


The grass will be $75m (AED277m) greener at the Expo 2020 Dubai site as the emirate invests the amount in a nursery stretching across 220,000 sq m and housing about 500,000 shrubs and 13,000 mature trees. Local roots   In the lead-up to the event, the nursery will welcome an additional 450,000 shrubs and 4,000 trees including a total of 440 mature ghaf trees that are 7-to-8 metres tall, and which will be transplanted from Mushrif Park in Dubai to the Expo 2020 Dubai site. Other trees include da…


2019-10-20

انطلاقاً من رؤية مؤسسة المواصلات العامة وتحقيق للاهداف الاستراتيجية 2020-2021 بتوفير نقل امن مستدام ومتطور ,دشن سعادة المهندس عمر أحمد بن عمير مدير عام مؤسسة المواصلات العامة حافلات النقل العام الجديدة ,وأكد سعادته بأن المؤسسة تعمل على تطوير أسطول الحافلات ودعمه بحافلات حديثة …


2019-10-20

Over 1,000 regional and global leaders in business and economy are expected to gather at the fifth edition of the Sharjah FDI Forum, on 11th and 12th November, 2019, to discuss trends that will drive the future of foreign investments in the UAE and the region. They will also debate how development and strategies can continue to maximise benefits at a time the global economy undergoes radical transformations. The event has chosen the theme "Future Trends in Foreign Direct Investment" and seeks to…


2019-10-20

The Director-General of the Government of Dubai's Department of Finance, DoF, Abdulrahman Saleh Al Saleh, has said that the continuous improvement in the performance of Dubai’s public budget over the last five years has been driven by Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum’s directives, to maintain the sustainability of Dubai’s financial system, stimulate greater entrepreneurship and investment through economic sti…


2019-10-20

 In yet another milestone in the 5G journey, Etisalat successfully completed the first end-to-end 5G Standalone,SA, call in the UAE and has become the first operator in the MENA region to achieve this milestone. Keeping in line with its overall strategy and vision of ‘Driving the Digital Future to Empower Societies’, Etisalat has maintained its leadership position due to its continuous innovation and digital transformation setting a benchmark in the region. Today’s announcement is a resul…


2019-10-20

Dubai Electricity and Water Authority (DEWA) announced the participation of the largest German energy and water companies in the 21st Water, Energy, Technology and Environment Exhibition (WETEX 2019). The exhibition is organised by DEWA under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai; and under the patronage of His Highness Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, Minister of Finance an…


South East Asia

2019-10-22

Themed Smart Mobility, Empowering Cities, 26th Intelligent Transport Systems World Congress, the world’s leading transport technology congress, will arrive at the shores of Singapore from 21 – 25 October 2019. 10,000+ Participants | 300+ Exhibitors | 20+ Technical Tours and Demonstrations


Halal tourism has struggled to thrive in parts of the country, with some concerned about the consequences “Islamization” might have on the local cultures that embrace the halal tourist industry. Myths surrounding the concept, such as a prohibition on swimming at halal tourist destinations, have worsened the situation, making Islam looks like a foe instead of a friend of tourism. At the same time, Indonesia’s Asian peers have capitalized on the halal market, promoting restaurants and prayer…


Indonesia’s oil and gas industry stakeholders have expressed hope that President Joko ”Jokowi” Widodo’s energy team in his second five-year term would introduce changes and legal certainty that attract the necessary investments to conduct exploration and, thus, make new oil and gas discoveries. The newly inaugurated President offered ministerial positions to several prominent individuals on Monday, but the Presidential Palace remained tight-lipped on the Cabinet configuration, the announ…


2019-10-22

Representatives of the south central province of Binh Dinh and the Japanese city of Izumisano signed an agreement to set up friendly and cooperative ties in Quy Nhon city on October 21 Representatives of the south central province of Binh Dinh and the Japanese city of Izumisano signed an agreement to set up friendly and cooperative ties in Quy Nhon city on October 21.Under the agreement, the two sides will strive for the development of exchange and cooperation in the fields of administrative wor…


ISSUANCE of the national ID will start in April, providing free access to a universally-recognized government identification card that is expected to make opening bank accounts easier and increase financial inclusion, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno said. Production of the national ID, formally known as the Philippine Identification System (PhilSys) program, is to be subsidized by the BSP, which hopes it will help reduce the numbers of the unbanked population, estim…


2019-10-22

We received an email from a reader, James Nordvik, requesting for a “good investigative view” of the current depressed copra market prices, so much so that “coconut farmers are suffering.” Currently, a world glut in vegetable oil is happening, mainly because of recent increases in the production of palm oil driven by a high demand from almost every conceivable consumer product that needs some form of edible oil. The fruits of palm trees are known to yield high percentages of oil but at l…


SOLAR ENERGY could become the dominant resource of prospective power plant projects in the coming years with a 17.9% share, outpacing coal-fired facilities’ 17.15%, according to the latest data from the Department of Energy (DoE). This is the picture of the country’s future new power plants if the project proposals — or what the department calls “indicative” projects — reach financial closing or if they have forged bank financing to proceed to construction. Based on submissions to th…


2019-10-22

Government spending on infrastructure continued to decline in August due to the lingering impact of the 2019 budget delay and the election ban on public works, as well as base effects from last year, the Department of Budget and Management (DBM) reported yesterday. According to the latest disbursement report of the DBM, infrastructure spending and other capital outlays reached P59.3 billion in August, 13.2 percent lower than the P68.4 billion recorded in the same month last year. “Infrastructu…


2019-10-22

22-24 Oct Singapore Expo Industrial Transformation ASIA-PACIFIC, a HANNOVER MESSE event is Asia-Pacific’s leading trade event for Industry 4.0! The event brings together an ecosystem of manufacturers, government agencies & businesses ranging from multinational corporations (MNC) to small and medium enterprises (SMEs) to shape and support their transformation initiatives.The customised and curated unique “Learning Journey” in the event is aimed to help companies START, SCALE and SUSTAIN the…


South-east Asia's economy is expected to expand at a yearly average of 5.2 per cent until 2023 and, with manufacturing being a key growth driver in the region, more Singapore companies with advanced technologies are venturing out, Enterprise Singapore told The Straits Times. It is working with about 40 companies that provide Industry 4.0 solutions to the region, compared with around 20 two to three years ago, said Mr Tan Soon Kim, the agency's assistant chief executive for South-east Asia and So…


SINGAPORE-BASED fashion technology platform Zilingo on Tuesday said it will invest US$100 million across the United States to digitally transform the fashion supply chain. Part of the investment will go into hiring staff for its sales and product teams in the US, where the startup recently launched operations with offices in New York and Los Angeles. It will also help to make responsible manufacturing fast, feasible and accessible for US retailers enabled by Zilingo, while factories in the count…


It links tenants to partners that can help them adopt tech to ease talent crunch   Over the past year or so, industrial estate developer JTC has been looking to be more than a landlord - by actively linking its customers to potential partners which can help them to adopt more advanced technology and ease their talent crunch. To date, it has approached around 300 companies out of the 14,000 or so across its estates, forming a group that it dubs a partners network, Mr Alvin Tan, assistant…


Gojek CEO and co-founder Nadiem Makarim said on Monday (Oct 21) he had resigned to join Indonesia's cabinet, and the ride-hailing and payments company said two senior officials would jointly take over running operations of the US$10 billion firm. President Andre Soelistyo and the other co-founder Kevin Aluwi would be the joint CEOs, Gojek said. It said in a statement it had "planned for this possibility and there would no disruption to its business." Read more at https://www.channelnewsasia.com/…


The 3rd Women of the Future Awards Southeast Asia in March 2020 will once again aim to build a platform to showcase regional emerging leaders – those who are not afraid to question stereotypes, break boundaries and drive positive change with courage, hard work and determination. Here's the Southeast Asia shortlist http://bit.ly/2JaCrSy


Temasek's proposed offer for majority share comes amid overcapacity in industry  With overcapacity in the global shipyard business, analysts said yesterday that Temasek Holdings' proposed $4.08 billion deal to take majority control of Keppel Corporation could pave the way for consolidation in Singapore's offshore and marine industry. "Competition is only expected to increase as Chinese and South Korean shipyards continue to consolidate, thus creating industry heavyweights with a significa…


2019-10-22

The otters are keeping an eye on interesting events in Singapore. This time, they have their eyes set on the flying taxis that are in town this week for the International Transport Systems World Congress. German startup, Volocopter, has brought in the flying taxis. They look like helicopters but with 18 rotors and electrically-powered.   Volocopter is also displaying the take-off and landing site, called VoloPort, at the Marina Bay Floating Platform between Oct. 21 and 25, 2019. Five otters we…


2019-10-21

The MoU will be a start for setting up a consortium to support robotics and automation development The Industry Ministry has begun a mission to bolster ties with Japanese businesses given the uncertainties surrounding Thai politics. Japan is among the key nations the ministry aims to cement ties with. It was noted that R&D experience from Japan can help the government meet its goal of directing the country toward the fourth industrial revolution. The recent meeting in Japan was aimed at assuring…


2019-10-21

Even as the first prototype is scheduled for launch by end 2019, plans are well underway for a second flying car in the third quarter of 2020 Malaysia’s flying vehicle prototype (or the ‘flying car’), which was originally slated to be revealed in October 2019, is expected to be launched at the end of the year instead. This is according to the entrepreneur-development minister, in response to a question about the project in Parliament on 17 October 2019). The project was led by the pri…


2019-10-21

U Thaung Tun, Union Minister for Investment and Foreign Economic Relations, is expecting foreign direct investments in the offshore oil and gas industry to increase in 2020, once proposals for exploration and production are received, evaluated and approved At the 30th regular meeting of the Private Sector Development Committee with Myanmar entrepreneurs on October 19, U Thaung Tun said he is expecting to receive “a record number of investments in oil and gas next year, especially offshore.…


2019-10-21

Myanmar saw a shrinking of its trade deficit to US$1.1 billion in fiscal 2018-19, the first time in six years that exports grew faster than imports.   “The trade deficit for 2018-19 declined substantially due to higher export volumes and a dip in imports compared to last year,” said U Khin Maung Lwin, assistant secretary at the Ministry of Commerce (MOC).