India

The amended rules will be deemed to come into force from April 1, 2021 The Central Board of Direct Taxes (CBDT) has extended the applicability of Safe Harbour Rules (SHR) to Assessment Year 2021-22 (Fiscal Year 2020-21). Introduced by the CBDT in 2009, safe harbour refers to the circumstances under which income-tax authorities will accept....


Both the 50,000 level and 60,000 mark were breached in 2021 From hitting the 1,000-mark on July 25, 1990 to reaching the 60,000-mark for the first time on Friday, it has been a historic and memorable journey for the benchmark index Sensex. It has taken a little over 31 years for the Sensex to traverse from 1,000 to the famed 60,000 level now.....


2021-09-23

Both India and UAE ministers emphasized that CEPA will create new jobs, raise living standards, and provide wider social and economic opportunities in both nations India and United Arab Emirates (UAE) on Wednesday formally launched negotiations for a Comprehensive Economic Partnership Agreement (CEPA) with an early harvest to be concluded by end December....


2021-09-23

SoftBank Group-backed Indian hospitality startup Oyo Hotels and Rooms is expected to file for an initial public offering (IPO) next week to raise around $1 billion, a source told Reuters on Thursday. The hotel aggregator is looking to list in India's financial capital of Mumbai and its IPO is tentatively pegged at between $1 billion and $1.2 billion( ₹8,000 crore), adding it will consist of a fresh issue of shares and an offer for sale from existing shareholders.....


Singtel on Thursday (Sept 23) said it intends to exercise its full rights entitlement for its direct 14 per cent stake in regional associate Bharti Airtel, to buy into the latter's 21,000 crore rupees (S$3.8 billion) rights issue at 535 rupees per share....


Now, fresh money can go into capex, says CEO Takkar Vodafone Idea says investors are showing interest in infusing fresh funds into the cash-strapped company after the government recently announced a relief package for the telecom sector. The operator, which has been struggling to stay afloat due to inadequate funding, will soon approach the company’s board with a fresh proposal to raise money.....


2021-09-22

The updated UK government advisory means that Indians fully vaccinated with Covishield will no longer be required to undergo compulsory 10-day self-isolation at home or declared location on entry to England Day after the Indian government warned of “reciprocal measures", the UK government has added Covishield, the India-manufactured Oxford/AstraZeneca Covid vaccine, to an updated international travel advisory.....


2021-09-22

Serum Institute of India will invest 50 million pounds ($68.24 million) in Oxford Biomedica, one of the COVID-19 vaccine manufacturers for drug major AstraZeneca Vaccine producer Serum Institute of India will invest 50 million pounds ($68.24 million) in Oxford Biomedica, one of the COVID-19 vaccine manufacturers for drug major AstraZeneca, the British cell therapy firm said on Wednesday......


Zee to own 47 per cent stake in the combined entity; Punit Goenka to be the CEO Sony Pictures Networks India (SPNI) and Zee Entertainment Enterprises Ltd. (ZEEL) today announced that they are going to merge their operations. While Subhash Chandra-backed Zee will own 47.07 per cent stake in the merged entity, the balance 52.93 per cent is to be held by SPNI shareholders. According to the term sheet, Zee’s promoter family will hold 4 per cent stake which can be increased to 20 per cent......


Holding company's 'AAA' rating will make it a formidable player: Bankers India’s largest public sector bank State Bank of India (SBI) will support Tata group’s bid for soon-to-be-privatised Air India by subscribing to Tata Sons debentures or funding the special purpose vehicle (SPV) set up by Tata Sons for the acquisition. Bankers said the credit rating of Tata group’s holding company is “AAA” signifying high safety and a combination of Air India with its existing airline businesses wo…


Middle East

2021-09-23

Both India and UAE ministers emphasized that CEPA will create new jobs, raise living standards, and provide wider social and economic opportunities in both nations India and United Arab Emirates (UAE) on Wednesday formally launched negotiations for a Comprehensive Economic Partnership Agreement (CEPA) with an early harvest to be concluded by end December....


2021-09-22

www.arabnews.com Construction on NEOM's largest development ‘The Line’ is expected to start by the end of this year, the governor of the Saudi wealth fund said. The Line — a 170-kilometer, zero-carbon, urban-development project featuring several hyper-connected communities — sparked interest worldwide when it was unveiled earlier this year by the Saudi Crown Prince Mohammed Bin Salman..... Read full article: https://arab.news/jcbpj


2021-09-22

Dubai Chamber recently organised at its headquarters the Big 5 Breakfast Briefing which familiarised visiting delegates with Dubai’s economy, business environment and construction sector, which has gone through a transformation over the last few years. The annual briefing, attended by visiting delegates from various countries, provided an ideal platform for industry stakeholders to network and learn more about key trends reshaping Dubai’s construction sector, as well as market challenges, op…


2021-09-22

Expo 2020 Dubai I His Excellency Sheikh Nahayan Mabarak Al Nahayan Visit


2021-09-20

Discover Outdoor Adventure in Dubai’s Nature with Eva Sieburg from Germany - Episode 3 | Visit Dubai


2021-09-20

Expo 2020 Dubai I Opening Ceremony


2021-09-20

Dubai’s Roads and Transport Authority (RTA) had demonstrated its superior global standing in a benchmarking study about asset management practices commissioned by Atkins, a specialist in administrative consultancies. The study revealed RTA’s dominance in various fields highlighted by asset lifecycle, and digitisation of all asset-related activities. The study covered all RTA’s agencies and sectors by benchmarking them with other organisations in the USA, UK, Denmark, Singapore and Hong Kon…


2021-09-20

Expo Village - A Development by Dubai World Trade Centre


2021-09-17

www.arabnews.com South Africa and Saudi Arabia are looking to boost trade between the two countries following a pandemic-hit year that saw imports from the Kingdom fall to a four-year low in 2020. South African imports from Saudi Arabia slid to $2.69 billion in 2020 from $3.66 billion in 2019 and $5.41 billion in 2018, according to data from the UN Comtrade database. The vast majority of that was made up of oil and fuels ($2.27 billion or 84 percent in 2020), followed by fertilizers at $145.3 mi…


2021-09-17

www.arabnews.com Saudi Arabia’s crown prince has set out new targets for kindergarten enrollment and improvements to universities as he unveiled a plan to help Saudi citizens “compete with the world”. The new program will focus on enhancing values, developing fundamental competencies and skills of the future, and knowledge development, Crown Prince Mohammed bin Salman announced on Wednesday...... Read full article: https://arab.news/6b6vw


South East Asia

2021-09-25

Industry is eager for high season Tourism operators are urging the relaxation of travel restrictions in addition to a shorter quarantine to lure back more international arrivals for the upcoming high season....


An Industry Ministry official has acknowledged that Indonesia is still far from achieving its electric vehicle (EV) adoption goals due to the high prices of EVs and limited availability of charging stations. Industry Ministry maritime industry, transportation and defense equipment director Sony Sulaksono said Indonesia had only 150 electric four-wheelers, 5,538 two-wheelers and 29 three-wheelers on the road to date, which was "still quite far off" from the government's target of 400,000 elect…


  Despite the lull in economic activities in the country, Cambodia’s agriculture exports persist, with the country exporting its cashew nuts to 12 major markets. From January to August, Cambodia exported cashew nuts to 12 international markets in Asia, Europe, and Africa. According to the Ministry of Agriculture, Forestry and Fisheries, during this period country exported to Vietnam, China, Thailand, Japan, India, India, South Korea, the United Arab Emirates, the Netherlands. Bangladesh, Laos…


2021-09-25

Hong Seng Consolidated Bhd (HSC) today inked a share sale agreement (SSA) with Robust Potential Sdn Bhd (RPSB) to sell two million ordinary shares representing 100 per cent stake in Hong Seng Priority Management Sdn Bhd (HSPM) for RM34.50 million. The disposal exercise will result in an estimated gain of approximately RM31.20 million to HSC.....


2021-09-25

A number of Russia businesses displayed Vietnamese foods and agricultural products at the 30th International Food Exhibition  (WorldFood 2021) in Moscow from September 21 - 24, which attracted over 600 businesses from 30 other countries worldwide.The businesses introduce diverse products imported from Vietnam, such as plants and vegetables, seafood, processed poultry, milk and dairy products, confectionery, organic food, and beverage products.....


2021-09-25

Mobile network providers are ready to provide mobile number portability (MNP) services by the end of the month, but subscribers are advised of certain porting limitations at the onset. Telecommunications Connectivity Inc. (TCI) – a joint venture company of Smart, Globe and Dito – said the MNP service would become commercially available on Sept. 30, allowing mobile customers to choose their telco service provider as frictionless as possible.....


Businesses such as food and beverage (F&B) outlets and retailers will receive about $650 million in wage subsidies, rental waivers and other forms of support to help them cope with the tightened Covid-19 curbs. The sum will be funded from the higher-than-expected revenues collected by the Government to date, with no further draw on past reserves, said Finance Minister Lawrence Wong on Friday (Sept 24).....


Indonesia, called out for being the second-worst offender for marine plastic pollution, only recycles about 10 percent of its plastic waste. Recycling start-ups have emerged in the country in a bid to use technology to tackle the issue, but financing is a key challenge for the budding industry.This article was published in thejakartapost.com with the title "Recycling start-ups say funding still challenging". Click to read: https://www.thejakartapost.com/news/2021/09/24/recycling-start-ups-say…


2021-09-24

Exports rose less than expected in August as coronavirus restrictions affected manufacturing and logistics, Commerce Minister Jurin Laksanawisit said on Friday, even though a weaker baht provided a boost. The curbs were imposed in July and August to contain the Southeast Asian nation's worst coronavirus outbreak to date. But they have been relaxed from this month as the outbreak eases.....


2021-09-24

MRT Corp and Prasarana Malaysia Bhd are exploring the possibilities to turn mass rapid transit (MRT) stations into e-commerce hubs. In disclosing this, MRT Corp chief executive officer Datuk Mohd Zarif Hashim said the Covid-19 pandemic had changed the way people travel and shop......