India

The Reserve Bank on Tuesday imposed operational restrictions on Punjab and Maharashtra Co-operative Bank (PMC Bank), resulting in chaos outside its branches in the financial capital.As per the RBI directions to PMC Bank, withdrawals have been capped at Rs 1,000 per account and the bank is not allowed to make any fresh loans.The RBI monitors banks' health and issues such directions in case of concerns over financial health of an institution. However, no reasons were specified .. Read more at://e…


Trader from Lasalgaon says situation is very unpredictable Heavy rains, which lasted for 48 hours, have affected the production of onions in Maharashtra’s Lasalgaon region. This region, situated in Maharashtra’s Nashik district, is a one of the major onion producing areas in the country. An estimated 23,000 hectares of Kharif and late Kharif crops have been planted in the Nashik district. The area is also the largest wholesale market for onions in India. The prices of onions are estimated t…


2019-09-24

India's second largest private steel manufacturer, JSW Steel, plans to launch up to $500 million in dollar-denominated bonds, the company told stock exchanges on Tuesday. This is part of the company's plan to raise up to $1 billion that was approved by its board of directors in July. On Monday, The Economic Times reported that the company had finalised 11 international banks over the weekend to manage the proposed issue. The proceeds from the proposed sale of bonds will be used to refinance s…


Kumar says the foundation for putting the GDP on 8%-plus growth trajectory has been laid India has become a more attractive investment destination following the reduction in corporate tax rates but relocation of units from competitors such as China will depend on other factors as well, such as the ability of states to make their environment more business-friendly, said NITI Aayog vice chairman Rajiv Kumar. In an interview to ET’s Yogima Seth,he said the lowering of minimum alternate tax (MAT) …


President Trump makes unscheduled appearance at UN climate summit, to listen to Modi Prime Minister Narendra Modi on Monday gave a clarion call for a “global people’s movement” to bring about a behavioral change to deal with climate change as he made a path-breaking pledge to more than double India’s non-fossil fuel target to 450 gigawatts. In his Independence Day speech, Modi had announced that India will produce 175 GW of non-fossil fuel as part of its commitment to the Paris Climate …


The fund will be aimed at creating an ecosystem of strong execution-focused partners who have built scale Former Partner at Norwest Venture Partners, Mohan Kumar and former Chief Operating Officer (COO) at Chennai-based Software as a Service (SaaS) unicorn Freshworks have come together to launch Avataar Venture Partners, whose maiden fund will have HarbourVest, the global fund-of-funds, as its single Limited Partner or sponsor. The $300 million fund will invest in B2B and Software as a Service (…


Chatbots have stepped in to automate cumbersome, repetitive tasks so that humans can tackle more nuanced, complex problems. Robotic Process Automation has revolutionized brand communication Online communication is continually evolving. For a long time, marketers focused on email marketing because it was the best channel to generate the most Return On Investment (ROI). However, today, email has become overcrowded. Professionals receive approximately 141 emails every day, and the Click Through Rat…


PM Modi also thanked the Indian community in Houston for setting the stage for a 'glorious future' of Indo-US ties Prime Minister Narendra Modi requested Indians leaving across the world on Sunday to send at least five non-Indian families to India as tourists every year. Addressing a gathering of members of the Indian community here, he said, "Can you do something for me? It is a small request. I am saying this to all Indians leaving all over the world. You take a decision that every year, each …


2019-09-23

Adani Enterprises, Cube Highways and Infrastructure, Canada Pension Plan Investment Board (CPPIB) and IRB Infrastructure are expected to place binding bids for a set of roads coming up for auction under the toll-operate-transfer (TOT) model, two people aware of the matter said. The National Highways Authority of India (NHAI) has put up nine stretches of roads totaling 566.27 km across Uttar Pradesh, Jharkhand, Bihar and Tamil Nadu for TOT auctions, with a 30 September deadline for submitting bid…


Two days after announcing sweeping corporate tax reforms, FM says lower rates here to stay Finance minister Nirmala Sitharaman has ruled out any cutback in expenditure, allaying apprehensions sparked by hefty corporate tax rate cuts, and said the government would instead push spending as the country looks to stave off the economic slowdown that pulled down growth in the first quarter of this financial year to a six-year low.“We want ministries to spend... Expenditure secretary is meeting secre…


Consumer-linked sectors to benefit most The reduction in corporate tax announced by Finance Minister Nirmala Sitharaman on Friday could help the top 1,000  listed companies in the country save at least ₹37,000 crore this fiscal year. Segments linked to the consumer  will benefit the most given higher effective tax rates of over 30 per cent. Export-linked sectors such as IT and pharma, on the other hand,  will benefit the least, accounting for only 5-6 per cent of potential savings. That…


The prime minister is scheduled to address over 50,000 Indian-Americans at the "Howdy, Modi" event on Sunday, in which he will be joined by US President Donald Trump Prime Minister Narendra Modi had a "fruitful" meeting with CEOs from the energy sector on the first day of his week-long US visit here on Saturday, the Ministry of External Affairs (MEA) said. It added that the meeting focussed on working together for energy security and expanding mutual investment opportunities between India and …


Speaking on the state of Indian economy, Rishad Premji said, "I am very optimistic on this. Good news is that it appears 'cyclical not structural'. The govt is doing a lot of things and is open to ideas. It is doing a lot of disruptive things, and I think the scenario will change in the next quarter." Wipro Chairman Rishad Premji, the son of business tycoon and philanthropist Azim Premji, on Saturday said that technology is changing the landscape of industries around the world, adding that the o…


2019-09-22

The Directorate General of Civil Aviation (DGCA) has asked the country's largest airline IndiGo to keep about 15-20% of the seats on its Delhi-Istanbul flight empty during days of strong Westerlies. The advisory from the Indian civil aviation regulator comes after the airline failed to carry luggage of passengers traveling on the route during one of its flights a few days ago. The directive was given only for flights facing Westerlies, said a DGCA official. "These flights consume more fuel, so…


There are many ways to look at Prime Minister Narendra Modi’s first US visit in his second term — from the transactional to the strategic, from the politically symbolic Texas event to the more substantive outcomes like the trade deal or, if you may, from talking up potential to getting real.On the first count, there is now a broad consensus that an India-US partnership makes eminent strategic sense. That a Democrat US president (Bill Clinton) & the first BJP prime minister (Atal Bi .. Read …


Earnings growth for India Inc, which has been on first gear in recent times, is all set to receive a boost from lower tax outgo, with the reduced corporate tax rates. For many manufacturing companies, the savings on this front could give them room to reduce prices or improve other spends, thereby spurring demand. Many companies in sectors such as infrastructure, capital goods and FMCG stand to gain. Some others in the auto, steel, oil and gas and real-estate segments could also get a leg-up. IT …


When do angel investors turn into demons? Kallol Borah, CEO and Co-Founder, Verified AG, warns of three kinds of angels As a necessary part of the start-up ecosystem, angel investors often step in when no one else is willing to take the risk of investing in an entrepreneur. In more than 18 years as an entrepreneur, I have come across all sorts of ‘angels’ — from corporate professionals to high net worth families to successful first generation entrepreneurs. I have observed three kinds of a…


The likes of Amazon & Flipkart are expanding market access for sellers The Confederation of All India Traders (CAIT) have time and again opposed the discounts provided by e-commerce giants – Amazon & Flipkart – arguing that it creates an uneven playing field between the sellers who sell online and offline. Online marketplaces, however, are arguing that they are instead enabling the small sellers to scale by bringing them online. In order to ensure collective growth of the ecosystem, e-commer…


2019-09-21

Nov 20-22 2019 Asia-Pacific Agri-Food Innovation Week in Singapore - Accelerating technology and investment in Asia's agri-food supply chain Singapore’s annual Asia-Pacific Agri-Food Innovation Week investigates the growing role of technology in building an efficient, resilient and sustainable agri-food supply chain that can deliver fresh, nutritious food to today’s fast-changing consumer market.


GST Council meet: On top of that 12 per cent of cess would be charged under the new Goods and Services Tax (GST) rules Finance Minister Nirmala Sitharaman on Friday decided to hike the tax rate on caffeinated drinks at the GST Council meet. Tax levied on caffeinated drinks has been increased to 28 per cent from 18 per cent, reports mention. On top of that 12 per cent of cess would be charged under the new Goods and Services Tax (GST) rules. Following this, soft drinks, energy drinks and other ca…


Middle East

2019-09-24

The Sharjah Investment and Development Authority (Shurooq), a government body that seeks to attract foreign investment into the Emirate of Sharjah, completed on 19 September 2019, a week-long mission organized by the U.S.-U.A.E. Business Council to Pittsburgh and Raleigh-Durham, North Carolina. The mission was led by H.E. Marwan Al Sarkal, Executive Chairman of Shurooq, and included representatives from Sharjah FDI Office, Sharjah Research, Technology & Innovation Park, and the University…


2019-09-24

In a continuous effort to improve business efficiency and ensure ease of doing business, the Abu Dhabi Global Market (ADGM) Registration Authority has launched an instant licence renewal service for entities registered at ADGM. The new instant licence renewal service will allow registered entities to efficiently complete licence renewals through the Online Registry Solution, once the renewal form is submitted. Entities will also be able to continue to use the platform to lodge their other annua…


2019-09-24

Retailers need to adopt digital transformation strategies and keep pace with the rising customer demands to stay ahead of the competition. Customers now demand a more engaging and personalised in-store experience, pushing retailers to consider new digital transformation and Artificial Intelligence tools that can help them acquire, engage and retain their customers efficiently, said Esam Mahmoud, Senior Vice President, Small and Medium Business, Etisalat.He was addressing an Etisalat forum titled…


2019-09-24

Dubai Chamber of Commerce and Industry recently hosted its Exporter of the Month ceremony at its head office where 8 member companies were recognised for outstanding export performance during the first 8 months of 2019. GTCS Trading DMCC and DBMSC Steel FZCO were both recognised as companies reaching the highest export value, while Hitech Industries FZE and Bericap Middle East FZE received the honour for having the highest number of export markets. Marico Middle East and Marcolin Middle East FZC…


2019-09-24

Supporting the Dubai government’s Smart City vision, Mastercard, a technology leader in the global payments industry, has entered a partnership with the Dubai Roads and Transport Authority (RTA). The partnership will enhance Mastercard support for RTA in enabling frictionless, faster and more secure public transport tariff payment and simplify the journey for commuters as part of its global digital payments economy and City Possible initiatives.    Through this project, RTA and Mastercard wi…


While the digital media landscape can be seen as quite a cluttered and crowded one, Waqar points toward The Tempest's offerings as having enabled it to stand out in this field Mashal Waqar is today known as the co-founder and COO of the 2016-founded global media startup,The Tempest- but her role at the company didn’t start out like that. She joined the enterprise as an editorial fellow when she was still a senior in college studying computer security and international business, after feeling w…


Abu Dhabi-based Mubadala Investment Company on Monday announced that it has signed an agreement to invest up to $500 million in Cologix, the data centre company, subject to regulatory approvals. The company said the transaction will provide significant investment for Cologix for growth in both the United States and Canada. It added that Cologix has built a leading position for hyperscale and colocation data centre services in its markets. The investment will enable new world-class infrastructure…


Emaar Properties has announced its entry into the coffee chain market with the opening of the first Emaar Café, located in the Fashion Avenue of The Dubai Mall. A new concept from Emaar, the café offers an environment for visitors to network, socialise and relax in a casual setting, the company said in a statement. It added that Emaar Café is set to "redefine the notions of the welcoming Arab coffee house culture to the next level".     Emaar added that it also exchanged agreements with…


The Expo 2020 Dubai Higher Committee, led by Sheikh Ahmed bin Saeed Al Maktoum, has announced that it is on scheduled to deliver the "world's greatest show". Sheikh Ahmed, also chairman of Dubai Civil Aviation Authority, chairman Dubai Airports and chairman and chief executive of Emirates Airline and Group, convened the meeting to hear the latest updates in preparing to host the Expo next year. The high level taskforce, entrusted with steering progress on the largest event ever held in the Arab …


2019-09-22

Al-Jouf in Saudi Arabia, known as the land of olives, is an area deep-rooted in history and biodiversity. Due to its moderate climate and fertile land, it has become known as “The Kingdom’s food basket.” Al-Jouf is an area steeped in civilizational, cultural and archaeological heritage and historical diversity. Signs of stability in the region in the prehistory era can be found at the most ancient archaeological site, Al-Shouwehtiya, which dates back as far 1.3 million to 1 million years B…


2019-09-22

A beach cleanup program targeting marine waste has been launched by the Red Sea Development Co. (TRSDC), the Saudi Press Agency reported.The firm, which is behind the development of a luxury seafront tourism destination in Saudi Arabia, is already developing a range of environment-friendly policies such as zero-waste-to-landfill, zero-discharge-to-the-sea, zero-single-use plastics, and achieving 100 percent carbon neutrality. On Saturday it launched the Marine Debris Beach Clean Up Program as pa…


2019-09-22

Two young women are using the power of art to improve the lives of young people in Cairo. The Doodle Factory, founded by Yasmin Khamis and Farah El-Masry, is an Egyptian brand that collaborates with different stakeholders to help vulnerable children through their personal drawings. It uses children’s designs to decorate everyday lifestyle products for consumers, such as handbags, pencil cases and place mats. Proceeds from product sales go to funding the medical, educational and sheltering need…


CNN International, which reaches more than 400 million households around the world, has announced plans to add another hour of programming from its Abu Dhabi production centre. The broadcaster said it is also launching two new evening programmes from its London bureau from September 23. CNN International said it is expanding Connect the World with Becky Anderson, the network’s flagship daily programme anchored live from CNN Abu Dhabi, by an hour to give viewers more in-depth interviews with th…


2019-09-22

Prime Minister Saad Al-Hariri spoke to the Saudi finance minister on Saturday about support for the Lebanese economy and preparations for the first meeting of a bilateral council, his media office said. Saudi Finance Minister Mohammed Al-Jadaan said on Wednesday that Riyadh was in discussions with the Lebanese government about providing financial support, lifting Lebanon’s dollar-denominated government bonds. Lebanon, one of the world’s most heavily indebted states, faces financial strains l…


Flydubai plans to grow its fleet to 236 aircraft over the next 10 years, up from 57 today, according to a senior executive. The fleet expansion will allow the Dubai-based carrier to extend its operations to more destinations in the Middle East and further afield, Sudhir Sreedharan, Flydubai’s vice president, commercial operations told Arabian Business. “This will continue to support further network growth.” Sreedharan did not disclose whether the airline will stick to a previous order for …


Saudi Aramco has added banks including Barclays Plc, BNP Paribas SA, Deutsche Bank AG and UBS Group AG as bookrunners on its planned initial public offering as it pushes ahead with plans for the blockbuster deal, people with knowledge of the matter said. The energy giant also picked Credit Agricole SA, Gulf International Bank BSC and Societe Generale SA, the people said, asking not to be identified because the information is private. Aramco is planning to select about 15 bookrunners in total, in…


2019-09-22

Gulf Air, the national airline of the Kingdom of Bahrain, and Etihad Airways, the national airline of the United Arab Emirates, have added four airports in the United States of America to the list of cities served by the existing codeshare agreement for travel commencing 23 September 2019. The addition of the new destinations further strengthen the solid ties between the two countries and carriers by continuing to enjoy a strong and robust relationship following the signing of a Memorandum of Un…


2019-09-22

HE Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), has inspected the construction of the 4th phase of the Mohammed bin Rashid Al Maktoum Solar Park, which is the largest single-site Concentrated Solar Power (CSP) project in the world. Based on the Independent Power Producer (IPP) model, the fourth phase will generate 950 megawatts (MW) with an investment of AED 15.78 billion. During the visit, Al Tayer was accompanied by Waleed Salman, Executive Vice President …


2019-09-22

Preliminary rounds held on 17-18 September 2019 at DMCC Coffee Centre Over 700 coffee enthusiasts watched professional baristas compete over two days Finals to be held on 22 September for a coveted spot at World AeroPress Championships DMCC’s involvement in the project underlines its commitment to growing the speciality coffee scene in Dubai and the UAE   DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – hosted the fourth edit…


2019-09-22

The Board of Directors of Roads and Transport Authority (RTA) has awarded a contract for constructing two bus stations at Oud Metha and Al Satwa in a session chaired by HE Mattar Al Tayer, Director-General and Chairman of the Board of Executive Directors of RTA. The stations accommodate integrated facilities for bus riders including parking spaces, pick-up and drop-off points, retail outlets, restaurants and offices.  “The construction of stations for public bus riders complements RTA’s eff…


South East Asia

Canada Pension Plan Investment Board (CPPIB) will make its first infrastructure investment in Indonesia with the acquisition of a 45 percent stake in PT Lintas Marga Sedaya (LMS), the concession holder and operator of the Cikopo-Palimanan (Cipali) toll road in West Java. The investment will be made in partnership with PT Baskhara Utama Sedaya (BUS), a wholly-owned subsidiary of PT Astra Tol Nusantara (Astra Infra), CPPIB stated in a press release issued on Thursday. CPPIB and BUS will jointly a…


2019-09-24

Foreign executives and managers in Myanmar can now rely on a handbook about respecting the local culture in the workplace when it comes to defusing possible cross-cultural misunderstandings and potential disputes.  The Directorate of Investment and Company Administration (DICA) and the Myanmar Centre for Responsible Business (MCRB) collaborated on the guide titled “Respecting Myanmar Culture in the Workplace”..............


2019-09-24

Russia on Wednesday offered to support Myanmar on the digital front, with proposals to help the country draft its first cyber security law, build e-government platforms and develop smart cities. More than 70 percent of the Russian population has round-the-clock access to e-government platforms, the use of which also helps to eliminate corruption and errors, said Alexey Volin, vice-minister of digital development, communications and mass media of the Russian Federation.................


2019-09-24

The Korea-Myanmar Industrial Complex (KMIC) is set to be among the best industrial complexes in Myanmar and will help unlock the potential of Myanmar, China, India, and ASEAN as markets, Kim Gunwoo, general manager of the Korea Land and Housing Corporation (Myanmar), said in an interview with The Myanmar Times.  Korea Land and Housing Corporation (Myanmar) is overseeing the construction of the industrial complex north of Yangon. Earlier this month, during an official visit to Myanmar, Sout…


All of Ho Chi Minh City’s 24 districts will have Internet of Things (IoT) broadcasting stations installed by the end of this month, making the city the first place in Vietnam to be fully covered with an IoT network. IoT is a system of interrelated computing devices and machines with the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction.       Connected devices, smart devices and others are embedded with electronic components, softwar…


2019-09-24

Tycoon Ramon “RSA” Ang snakes through the labyrinthine crowd and hurriedly slips inside a waiting white van that will bring him to a helipad inside Manila North Harbor. He is in the Bronx-like district of Tondo in Manila’s belly where he led the opening of San Miguel Corp.’s learning facility. He needs to rush to Clark for the signing of the Bulacan Airport agreement. The van takes him to his chopper, a waiting H130 helicopter. Its engine is roaring to life and the rotor blades are spinn…


2019-09-24

Vietnam’s food processing and packaging industry has expanded by 15-20 percent annually over the past several years and is likely to grow further in the coming years, according to the Association of Vietnam Retailers (AVR) Vietnam’s food processing and packaging industry has expanded by 15-20 percent annually over the past several years and is likely to grow further in the coming years, according to the Association of Vietnam Retailers (AVR).Food and drinks currently account for the high…


2019-09-24

Novaland Group signed strategic partnerships with The PGA of America, IMG and Accor at an investment promotion conference of Binh Thuan province on September 22. Real estate developer Novaland Group signed strategic partnerships with The Professional Golfers’ Association of America, International Management Group (IMG) and French multinational hospitality group Accor at an investment promotion conference of Binh Thuan province on September 22.At the conference, entitled “Potential conne…


2019-09-24

The value of counterfeit goods seized by the government reached close to P14 billion in the January to July period, with cigarettes and alcohol products topping the haul, according to the Intellectual Property Office of the Philippines. IPOPHL said the counterfeit items worth P13.73 billion confiscated by the National Committee on Intellectual Property Rights (NCIPR) during the seven-month period is nearly 60 percent of full-year 2018’s record-high haul of P23.6 billion. NCIPR promotes the pro…


2019-09-24

A conference was held in Hanoi on September 23 to seek solutions to support and create favourable conditions for businesses to export goods and services to the ASEAN market A conference was held in Hanoi on September 23 to seek solutions to support and create favourable conditions for businesses to export goods and services to the ASEAN market.According to Nguyen Vu Kien, head of the International Relations Department under the Vietnam Chamber of Commerce and Industry (VCCI), ASEAN is a huge …


2019-09-24

Presented by SGInnovate and UNDP   Technology and Sustainability Creating Impact with Sustainable Finance In strengthening Singapore’s sustainable investment ecosystem, we need to establish Singapore as a node for Global Sustainable Finance, and consider the element of impact measurement within incubators/accelerators. Date: 27 September 2019, FridayTime: 4:00pm – 6:00pmVenue: 32 Carpenter Street, Singapore 059911 Speakers:


Global flows are shifting toward Asia on seven of eight dimensions namely trade, capital, people, knowledge, transport, culture and resources according to the latest study by McKinsey Global Institute. The only flow that has declined is waste (environment).  From 2007 to 2017, Asia's share of global goods trade rose from 27 to 33 per cent, of global capital flows from 13 to 23 per cent, of worldwide patents from 52 to 65 per cent (although its share of IP charges has remained constant at around…


The Housing and Development Board (HDB) has rolled out the use of artificial intelligence (AI) to enhance worker safety at its construction sites. This AI system will focus on two scenarios which are common causes of worksite accidents, based on data from the Ministry of Manpower, HDB said in a media briefing on Thursday (Sep 12).   The system will monitor workers who come within one metre of a non-barricaded edge with a drop of more than two metres and those who are under the path of heavy loa…


Visibility in some parts of Singapore was reduced to between 3km and 5km on Monday morning (Sep 23) due to hazy conditions and increased moisture in the atmosphere, said the National Environment Agency (NEA).  This gradually improved to a visibility of between 7km and 8km over most areas in the afternoon, the agency added.  Read more at https://www.channelnewsasia.com/news/singapore/haze-singapore-visibility-reduced-air-quailty-monday-nea-11934886


SINGAPORE firms are switching from cheques to e-payments, but the pace is just not fast enough. To give them a further push, local banks OCBC and DBS are raising cheque fees and, at the same time, offering promotional rates for electronic transactions. Small and...


Small and medium-sized enterprises (SMEs) for five out of six sectors in Singapore are expecting a worse business outlook for the coming six months, as the global economic slowdown continues amid a trade war that shows little signs of abating. In particular, SMEs in manufacturing logged lower turnover expectations due to slowing demand for goods, while those in commerce and trading are expecting, for the fourth straight quarter, worse profit growth. Meanwhile, SMEs in the retail and food and b…


2019-09-23

The Department of Transportation (DOTr) is bent on upgrading the country’s regional airports even without the private sector’s participation. Transportation Undersecretary for aviation Manuel Tamayo said the government is keen on pushing through with airport projects which have received unsolicited proposals from various private groups should any of them decide to back out. “Whether they push through or not, we’re doing it,” Tamayo said.So far, Aboitiz InfraCapital Inc.’s unsolicited…


2019-09-23

  The Philippine is expected to become a recipient of a huge amount of investments in the information and communication (ICT) sector as efforts to improve the country’s telecommunication services and internet connectivity intensify. Investments in the country’s ICT sector have been surging this year to levels never before seen, and such magnitude is expected to continue in the years to come, according to Information and Communications Technology Undersecretary for operations Eliseo Rio. “…


2019-09-23

Printing businesses in Vietnam should begin using more environmentally friendly equipment, experts said at a recent conference in Ho Chi Minh City Printing businesses in Vietnam should begin using more environmentally friendly equipment, experts said at a recent conference in Ho Chi Minh City.Ngo Anh Tuan, chairman of the Printing Association of HCM City, said that the kind of printing methods being used by businesses are the primary cause of pollution. For the printing industry to develop s…


2019-09-23

The final round of the United Association of Vietnamese Students (UAVS) Start-up Challenge took place in Sydney on September 21  The final round of the United Association of Vietnamese Students (UAVS) Start-up Challenge took place in Sydney on September 21.Accordingly, the Sister Bag team won the competition with Made-in-Vietnam handbag project, looking to bring eco-friendly and handmade fashionable products to consumers via online channel.UAVS President Nguyen Duong Nguyen said it is the fir…