India

Step out of your comfort zones and explore different ways to earn money during COVID-19 pandemic Staying at home and witnessing incomes subside surely doesn’t feel good, which is a reality during the current pandemic. While the traditional source of income may have diminished, there are a lot of other things that one can do to make some money staying at home.....


Reliance Industries Ltd (RIL) on Saturday said it has received Rs 7,500 crore from Silver Lake Partners, which had recently picked up 1.75 per cent stake in its retail arm Reliance Industries Ltd (RIL) on Saturday said it has received Rs 7,500 crore from Silver Lake Partners, which had recently picked up 1.75 per cent stake in its retail arm. On September 9, Mukesh Ambani-led RIL had said that the US private equity firm would invest into Reliance Retail Ventures Ltd (RRVL)."The subscription…


2020-09-27

MasterSoft bets on versatile solutions that enable the students and teachers to adapt to the new normal The outbreak of covid-19 is seething over the world. It has wreaked havoc in the education system with the closure of academic institutions. Due to no physical movement, the structure of teaching, assessing, and management of administrative operations are predominantly affected. It has reminded the Indian education system to realise the need for a rigorous transformation. ....


Talks about India’s aspiration for expanded role in the global body Prime Minister Narendra Modi has raised questions on the United Nations’ response in combating the Covid-19 pandemic, and assured other countries that India's vaccine production and delivery capacity will be used to help all in fighting the deadly virus. “As the largest vaccine producing country in the world, I want to give one more assurance to the global community today. India’s vaccine production and delivery capacit…


Flipkart also said this is part of a programme to onboard 50,000 kiranas across the country to provide a faster and personalised e-commerce experience to its consumers Homegrown e-commerce giant Flipkart on Friday said it has onboarded over 13,000 kiranas in the eastern region to make faster deliveries to customers ahead of the festive season. The company also said this is part of a programme to onboard 50,000 kiranas across the country to provide a faster and personalised e-commerce experience …


Prime Minister Narendra Modi and newly elected Japanese Prime Minister Yoshihide Suga agreed at their first official conversation that the “economic architecture of a free, open and inclusive Indo-Pacific region must be premised on resilient supply chains”. In this context, both leaders welcomed cooperation between India, Japan and other like-minded countries on developing alternate supply chains to China.Signalling momentum in Special Strategic & Global Partnership in the post Abe .. Read …


The pandemic has wrought several incongruities in our work and life. One such is managers not raising their eyebrows when a staff member asks for leave. Indeed, companies are all but insisting on employees taking off for rest and recuperation......


As a part of the deal, Coursavy educators, including Vimal Singh Rathore (chief executive officer CEO, Coursavy), will now teach on Unacademy and will also mentor existing educators on enhancing discipline amongst aspirants Bengaluru-based edtech startup Unacademy has acquired a UPSC preparing startup - Coursavy for an undisclosed amount. According to Unacademy, this acquisition will strengthen its position in the UPSC CSE prep market....


Availing of this facility would be at the discretion of the account holder In order to check banking fraud, the Reserve Bank of India has decided to introduce from January 1, 2021, the 'positive pay system' for cheque, under which re-confirmation of key details may be needed for payments beyond Rs 50,000. Availing of this facility would be at the discretion of the account holder. However, banks may consider making it mandatory in case of cheques for amounts of Rs 5 lakh and above.


Nielsen defines middle India as urban but towns with population of 1-10 lakh, excluding rural centres and metros The middle and rural India, which quickly recovered and bounced back to pre-COVID-19 level, is driving the "strategic priorities" of the FMCG companies, according to market research firm Nielsen. Nielsen defines middle India as urban but towns with population of 1-10 lakh, excluding rural centres and metros. The FMCG companies are now increasing focus on the villages which retail cl…


2020-09-26

Individuals are not required to report cash transactions while filing their income tax returns unless they carry on business or profession which is liable to tax audit. Encouraging digital banking and UPI based transactions has been an important agenda of our government. To this end, several checks and balances and reporting obligations have been placed on businesses undertaking cash transactions. Individuals as well as businesses must make themselves aware of these obligations....


The Assam government comes to the rescue of the ailing tea industry. It has announced interest subvention of three per cent on the working capital loan taken by the tea estates. A subsidy of ₹7 per kg will be provided.Apart from the purchase cost of plant and machinery for orthodox tea, 25 per cent subvention will be provided on the capital expenditure. The tea industry is given a three-year tax holiday from payment of agriculture income tax. To meet these, state governments will incu .. Read…


An international tribunal has ruled in favour of British telecom major Vodafone Group Plc in the ₹20,000-crore tax liability case that dates back to 2007, in a move that would set a precedent for a dozen similar cases in India. In its ruling on Friday, the International Arbitration Tribunal at The Hague ruled that the tax liability on Vodafone is a breach of the investment treaty signed between India and the Netherlands. It also termed the conduct of India’s Income-Tax Department as a breac…


2020-09-26

When you think of high-tech in India, you might recall the country’s giant outsourcing firms (Tata, Wipro, Infosys)—they flourished in the 1990s providing business-processing help to big Western brands. More recently, India’s exploding tech scene has spawned high-profile, consumer unicorns serving the country’s burgeoning middle class: E-commerce giant Flipkart (sold to Walmart), payments company Paytm and online education company BYJU’s, to name a few. All racked up significant, unico…


Irwin Anand, MD, Udemy India in an interaction with Entrepreneur India shares his views on why the Covid-19 prompted shift to virtual learning is a fundamental shift that will sustain over the long term San Francisco-based online learning and teaching marketplace Udemy started its India operations in January 2019. As the managing director of Udemy’s India operations Irwin Anand will tell you, India is one of the top markets for the global edtech major.....


Electronics Mart runs 60 stores and has 1.200 employees; chain was started in 1980 by local businessman Pavan Kumar Bajaj as "Bajaj Electronics" and later changed its name Reliance Retail is in talks with Electronics Mart India, a consumer durables retail chain, for a possible acquisition. Electronics Mart operates 60 stores in South India with 1,200 employees on its roll. According to a source close to the development, talks are underway on the valuation of the chain, and the ask price is Rs 3,…


The RBI had planned to buy up to 100 billion rupees ($1.35 billion) worth of six-year to 11-year papers at an open market operation The Reserve Bank of India on Thursday rejected all the bids it received at its first outright open market purchase of bonds for this fiscal year, puzzling traders and investors. The RBI had planned to buy up to 100 billion rupees ($1.35 billion) worth of six-year to 11-year papers at an open market operation. But despite receiving bids worth 664.73 billion rupees in…


2020-09-25

Sale of bad loans to ARCs is expected to gather momentum after 31 December, executives said Companies specializing in turning around stressed loans, are betting on assets left out by a central bank scheme which allows easier repayment terms for companies and individuals affected by covid-19......


India will fire if there is any attempt to overrun or mob troops and there will no longer be any primitive fighting on the Line of Actual Control with batons or stones, China has been told, according to a top government official.The Army has given clear instructions to troops at forward posts on the border that if they face hostile action like an attempt to overrun posts or a mass attack by PLA soldiers yielding batons, spears or other improvised weapons, they can shoot them. Read more at:https:…


The Centre has extended by three months the suspension of insolvency proceedings initiation against the corporate debtor for defaults arising post March 25, when the Covid-19-induced lockdown was announced. It may be recalled that in response to the pandemic, the government had, on June 5, come out with an ordinance to prohibit the initiation of insolvency proceedings for defaults arising during the six months from March 25, 2020 (extendable up to one year)......


Middle East

2020-09-26

DAFZA signs MoU with the Federation of Israeli Chambers of Commerce- Agreement will help Israeli companies tap regional opportunities through DubaiThe Dubai Airport Free Zone Authority (DAFZA) today announced the signing of a Memorandum of Understanding (MoU) with the Federation of Israeli Chambers of Commerce (FICC) to create a framework for bilateral cooperation aimed at supporting Israeli companies in establishing their businesses in Dubai and taking advantage of commercial and investment opp…


2020-09-26

A female-focused career mentorship accelerator programme to empower women in financial services 14 young women starting their careers within financial services selected for the programme Mentees are given access to over 20 workshops provided by DIFC FinTech Hive’s network of partners Dubai, UAE, 26 September 2020: DIFC FinTech Hive, the first and largest financial technology accelerator in the Middle East, Africa and South Asia (MEASA) region, revealed the 2020 launch of AccelerateHer, a fe…


2020-09-25

H.H. Sheikha Manal bint Mohammed bin Rashid Al Maktoum, Wife of H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, and President of the UAE Gender Balance Council, has hailed the UAE's new law ensuring equal pay for men and women in the private sector which will come into effect on Friday. "Keen on further advancing female empowerment, the UAE President has issued a law ensuring that women receive equal pay as men in the private sector. The law c…


2020-09-25

With the reopening of the city to international tourists and the gradual return to normal life, UAE residents and visitors are once again spoilt for choice when it comes to enjoying the diversity of Dubai’s offerings, whether it is high octane thrills from skydiving, zip lining to jet skiing or a range of entertainment for families at shopping malls and theme parks.  While the city is ready to cater to all tastes and age groups, a growing number of holidaymakers are taking a diversion from th…


2020-09-25

Strategic partnership agreement aims to create business opportunities for member companies in both markets and the wider regionDubai Chamber of Commerce and Industry and Tel Aviv Chamber of Commerce, represented by the Federation of Israeli Chambers of Commerce, have signed a strategic partnership agreement that paves the way for bilateral cooperation.Under the terms of the agreement, both chambers will produce a joint study identifying synergies and sectors of mutual interest; create a roadmap …


2020-09-25

Emirates has announced it will resume flights to Johannesburg (1 October), Cape Town (1 October), Durban (4 October) in South Africa; Harare in Zimbabwe (1 October); and Mauritius (3 October). The addition of the five points will expand the Emirates’ global network to 92 destinations, as the airline gradually resumes its operations while prioritising the safety of its customers, crew and the communities it serves around the world. Emirates’ African network will also now extend to 19 cities. …


2020-09-25

RTA becomes the first public entity to initiate a change of structures to embed agility concept and practice His Excellency Mattar Mohammed Al Tayer, Director-General and Chairman of the Board of Executive Directors of Roads and Transport Authority (RTA), stated that the fast-paced global changes, especially those related to the Covid-19 crisis, had created new situations. He noted that such realities forced governments and organisations worldwide to adopt new administrative approaches to contin…


2020-09-24

Investor Relations (IR) is playing a growing role in strengthening the relationship between companies listed on Dubai’s capital markets and investors locally and internationally. Dubai Financial Market (DFM) and Nasdaq Dubai, the comprehensive capital markets network in Dubai that provides a world-class market infrastructure for issuers and investors alike, are actively implementing a widespread IR excellence program to promote issuers’ expansion in this field through numerous initiatives. T…


2020-09-24

Humaid Al Qutami, the Director General of the Dubai Health Authority, DHA, has received Ian Halliday, Consul General of Australia to Dubai, and John Cavanagh, Deputy Consul General and Trade Commissioner for Middle East, Africa & Turkey for the Australian Trade and Investment Commission, or Austrade.The two sides discussed collaboration particularly in the field of artificial intelligence, medical education and research and development.Al Qutami highlighted the long-standing relationship between…


2020-09-24

Air Arabia Abu Dhabi, the capital’s first low-cost carrier, has announced the introduction of a new service to the capital of Sudan, Khartoum with direct flights from Abu Dhabi commencing on October 7, 2020. Schedule to Khartoum, effective 07 October 2020 (all times local) Flight Departure Time Arrival Time Aircraft Frequency 3L 513 Abu Dhabi 19:50 Khartoum 22:00 Airbus A320 Mon/Wed/Fri 3L 514 Khartoum 22:45 Abu Dhabi 04:45 Airbus A320 Mon/Wed/…


2020-09-24

The first CNN Academy in the world opens its doors for applications today for journalists of the future to learn about multiplatform storytelling. Starting in January 2021, the intensive learning programme will offer a full-time five-week course with a combination of online learning sessions and in-person workshops that will take place at CNN at twofour54, the home of Abu Dhabi’s media and entertainment industry. Over the course of more than ten years since CNN first began broadcasting from…


2020-09-24

- Participants learned about incentives and provided by MOHRE’s Tawteen Gate, Emirates Job Bank and graduate trainee programmes The Dubai Chamber Sustainability Network Taskforce on Emiratisation recently organised a webinar in cooperation with the UAE Ministry of Human Resources and Emiratisation, which raised awareness about benefits and membership privileges provided to companies through the Tatween Gate, Tatween Partners Club, Emirates Job Bank and graduate trainee programmes. The webinar,…


2020-09-24

RTA’s revamped vision: The world leader in seamless & sustainable mobility RTA’s Supreme Committee of Strategic Planning and Corporate Transformation at the Roads and Transport Authority (RTA) has endorsed the revamping of RTA’s vision and strategic plan. In a meeting chaired by His Excellency Mattar Mohammed Al Tayer, Director-General and Chairman of the Board of Executive Directors of RTA, the Committee endorsed the aligning of RTA’s vision and strategic plan with the UAE Centennial 20…


2020-09-23

Dr. Naif Al-Harbi is the director of vaccine development unit and head of research quality management at King Abdullah International Medical Research Center (KAIMRC). KAIMRC recently confirmed its willingness to cooperate with the Health Ministry and the Saudi Food and Drug Authority to test vaccines that are currently in their trial phase.....


2020-09-23

The Saudi Cabinet on Tuesday reiterated the importance of confronting Iran over its destabilizing activities in the Middle East, and throughout the world, and its sponsorship of terrorism. Only by agreeing to end such provocative behavior will the country be reintegrated into the international community and sanctions be lifted, ministers noted during a virtual meeting chaired by King Salman. Such an outcome would would greatly benefit the Iranian people, they added.....


2020-09-23

Saudi Arabia’s Vice Minister of Defense, Prince Khalid bin Salman congratulated King Salman and Crown Prince Mohammad bin Salman, and the people of the Kingdom on National Day.  “(National Day) renews pride in our past,” the prince said on his official Twitter account on Wednesday, adding that it increased the nation’s ambition for its future.....


2020-09-23

Mubadala Investment Company, Mubadala, an Abu Dhabi-based sovereign investor, and Sberbank, the largest bank of Eastern and Central Europe, today signed a strategic agreement to explore opportunities of mutual benefits. The agreement covers cooperation in multiple areas, including co-investments, debt and equity financing, long-term financing of Mubadala projects in Russia and other territories, advisory services, forex hedging and credit risks, among others. Furthermore, the agreement paves the…


2020-09-23

Barings, one of the world’s leading financial services firms, today announced that it has formed the Barings Mubadala Enterprise, BME, – an evergreen origination platform seeking to provide financing solutions to European middle-market businesses. BME and its capital partners aim to provide $3.5 billion in financing over the next 18 months to help meet growing corporate demand for flexible capital solutions in Europe. The partnership is anchored by Mubadala Investment Company, Mubadala, and …


2020-09-23

The UAE Accountants and Auditors Association, AAA, has established task-team to study the economic and financial impact of the coronavirus, COVID-19, pandemic. The initiative, sponsored by the UAE Ministry of Economy and the Securities & Commodities Authority, SCA, is aimed at streamlining the rules in the sector, as international financial and accounting standards do not contain specific provisions or rules to address the current unprecedented scenario, which will result in each entity, account…


2020-09-23

As part of the Ministry of Finance, MoF, endeavour to enhance cooperation with EU countries, Obaid Humaid Al Tayer, Minister of State for Financial Affairs, held a virtual meeting yesterday with Roberto Gualtieri, Italian Minister for Economic Affairs and Finance. The meeting discussed areas of cooperation in financial affairs, trade and investment, and the UAE’s participation in the Global Partnership for Financial Inclusion, GPFI, programme within the G20 financial track, during the G20 2021…


South East Asia

HP Inc - which uses its technology to help close the digital divide in society and economy - wants to be more digitally-driven in its business, says Ng Tian Chong, the company's MD for Greater Asia. He also talks about its North Star. FEW industries have been spared the ravages of the Covid-19 pandemic, but technology stands out as a clear beneficiary of the lockdowns and border closures that have swept the globe this year. With the world now more dependent on technology than ever, it is no wond…


Employers cite reconfiguring workspaces for safe distancing, rostering and staggered hours as some challenges in getting employees to shift back to the office. Sue-Ann Tan and Shabana Begum look at the issues surrounding Singapore's return to the workplace. More employees have been given the green light to return to workplaces, but there are still many challenges facing companies and staff preparing to make the shift back to the office. These range from the need to reconfigure work areas to ma…


There are the long hours of juggling work and school, the stress-eating, the struggle to get taken seriously by investors. But polytechnic student Dalton Ng can’t see any other life for himself, he tells On The Red Dot. There are those who dream of founding a tech start-up like Zoom, Snowflake or Facebook – and the fame, wealth and recognition that they imagine must follow. At 18, Singaporean Dalton Prescott Ng is already the founder of modestly successful tech start-ups, and serves as chief…


How fake clicks lay waste to digital marketing campaigns IMAGINE you are a brand with a digital advertising campaign. One of your main goals is to reach a certain number of downloads and in-app activity. Mobile marketers like you spend millions on global campaigns, using Google, Facebook, Twitter and various other platforms to place trigger-inducing advertisements where you think consumers will see them. For many companies, it's all about using data to predict where consumers are going and getti…


Amid the pandemic's job cuts, there has been a call to protect the Singaporean core. Insight looks at the challenges facing the citizen worker. Singapore's labour force has grown substantially over the past two decades, from 2.2 million in 1999 to 3.7 million last year. This comprises people who are employed - also known as being in the workforce - as well as those who are unemployed, that is, not in a job but want to and are able to work.....


2020-09-26

Kenanga Investment Bank Bhd (Kenanga IB) is set to introduce Malaysia's first stockbroker e-wallet, Kenanga Money, in partnership with Merchantrade Asia Sdn Bhd Kenanga Money will be rolled out in phases over the next few months, supported by a Visa prepaid card feature. Kenanga IB said the e-wallet marked the investment bank's foray into the cashless payment space. This enabled its clients the freedom to easily transfer funds from their stocktrading account into an e-wallet and prepaid card for…


2020-09-26

EXXON Mobil Corp has narrowed the list of bidders for its oil-producing offshore assets in Malaysia that could potentially raise US$2 billion to US$3 billion in a sale, according to people with knowledge of the matter. UK-listed EnQuest Plc and Kuala Lumpur-traded Hibiscus Petroleum Bhd are among those that have been chosen to submit binding bids for the assets, the people said. Other companies have also expressed interest, said the people, who asked not to be identified as the discussions are p…


The 2020 Sichuan Cultural and Tourism Development Conference, the 6th China (Sichuan) International Tourism Investment Conference and the 7th Sichuan International Tourism Trade Expo kicks off in Leshan, Sichuan today, September 25. Cambodia, Chongqing and Yibin will respectively serve as the chief guest state of honor, the guest province of honor and the theme city, all of which jointly organize various exchange activities.


SET-listed Charoen Pokphand Foods (CPF) is beefing up its beverage business and plans to launch alternative drinks to tap into Thai consumers focused on their health after the outbreak. In addition, the spread of African swine fever (ASF) has resulted in a significant decline in the number of swine in Cambodia, China, Vietnam and Laos, leading to CPF reporting sales growth of 10 percent in the first eight months this year, beating its 8% target....


Khmer Enterprise (KE) and an Australian government programme have come to the aid  of Cambodia’s developing agricultural processing industry. KE, which is part of the Ministry of Economy and Finance, has teamed up with the Cambodia-Australia Agricultural Value Chain programme (CAVAC), devoted to improving the resilience and competitiveness of Cambodia’s agriculture sector. They are  providing funding assistance to qualifying agro-processing small and medium enterprises (SMEs) or startups t…


2020-09-26

Việt Nam will continue to work with the US to mitigate challenges related to its export of fresh fruits to the latter, which has recently been disrupted due to the COVID-19 pandemic, an official told a press conference in HCM City yesterday. Dr Hoàng Trung, head of the Plant Protection Department, said the department would work with the US Animal and Plant Health Inspection Service (APHIS) and the US embassy to take measures to prevent export disruptions due to the pandemic.....


2020-09-26

The Government Pension Fund's chief expects greater long-term returns after an easing of investment allocation guidelines. The Government Pension Fund (GPF) plans to adjust its strategic asset allocation (SAA) next year because of changes in the market situation stemming from the Covid-19 pandemic and low investment return.....


2020-09-26

The Prime Minister Nguyễn Xuân Phúc has issued Decision 1322/QĐ-TTg approving the national programme to support businesses to improve productivity and quality of products and goods in the 2021-30 period. The decision, which was issued at the end of last month, is considered a new push to support enterprises amid the Fourth Industrial Revolution that strongly affects the competitiveness of enterprises......


2020-09-26

The Thai Chamber of Commerce (TCC) has urged the government to extend the visa amnesty for 400,000 tourists here, while operators in Chiang Mai said more than 10,000 international tourists are helping to generate revenue in the province while borders remain closed.....


The Department of Transportation (DoTr) has started soliciting bids for the provision of trains for the Malolos-Clark segment of the North-South Commuter Railway project.   In an invitation to bid announcement printed in a newspaper on Friday, the DoTr and the Philippine National Railway said they started selling bid documents for the project on Sept. 15, and will be accepting bid submissions until the morning of Dec. 16......


2020-09-26

The Philippine Chamber of Commerce and Industry (PCCI), the country’s biggest business group, will launch an online shopping platform next month for products and services of local enterprises. PCCI director for international trade affairs Francis Chua said the group has developed an online store  to serve as a platform for local businesses to sell their products.....


Home prices surged by a record 27% in the second quarter, driven by strong demand for high-end residential projects and an uptick in costs amid the pandemic-induced lockdown, the central bank said.   The Residential Real Estate Price Index (RREPI) jumped 27.1% year on year in the April to June period, the highest annual growth recorded since the series started in 2016. This was also quicker than the 12.4% hike in the first three months of 2020 and the 0.4% rise in the April to June 2019 period.…


Singapore's manufacturing output rebounded in August, ending a three-month slump, bolstered by strong growth in semiconductor production and a swing to growth for the volatile biomedical segment. Factory production grew a surprisingly strong 13.7 per cent compared with the same period a year ago, according to data released by the Economic Development Board (EDB) on Friday (Sept 25). Economists had expected a 4.6 per cent increase, according to the median of their forecasts in a Reuters poll. …


Come Monday (Sep 28), more people will be allowed to return to their workplaces as  COVID-19 safety measures will be eased further, but some workers in Singapore may not be ready to ditch their pyjamas for officewear just yet. Mr Chris Woon, 39, a telco executive, said that he has been working from home since March and hopes this can continue.....


Ravi Chidambaram, 57, President and Co-founder of TC Capital "I have over three decades of experience in the investment banking industry. In 2002, I co-founded TC Capital, a pan-Asian boutique investment bank based in Singapore which specialises in M&A advisory and capital market transactions in Asia.....