India

2019-08-20

8th International Exhibition & Conference On Technical Textiles  Technical textiles are textile materials and products used for their technical performance and functional properties. Unlike conventional textiles used traditionally for clothing or furnishing, technical textiles are used basically on account of their specific physical and functional properties and mostly by other user industries and many institutional buyers. Technical Textile Sector is one of the fastest growing segments of the …


About 6 fund houses have an exposure of nearly Rs 6,300 cr with shares of Essel Group entities  Subhash Chandra’s Essel Group will repay about Rs 2,600 crore to mutual funds this week out of Rs 4,200 crore it raised by selling 11 per cent in Zee Entertainment to global fund Invesco Oppenheimer. Those fund houses from which the Essel promoters borrowed with Zee shares as collateral will receive this tranche of the payment, said a person familiar with the matter. Nonbanking finance companies w…


2019-08-20

Reliance Industries Ltd (RIL) and BP Plc plan to offer electric vehicle (EV) charging points at their energy stations across India, a senior RIL official said, as the two companies seek to benefit from the government push to increase sales of eco-friendly vehicles. RIL, controlled by billionaire Mukesh Ambani, is expected to tap the expertise of BP, its British partner in the field of charging EVs, said the official, on condition of anonymity. “RIL has always looked at offering CNG (compress…


Spread of hate speech, fake news should be curbed by awareness Blame it on social media and its misuse: we are living in a disinformation age, where weapons of mass manipulation are in the hands of the government, anonymous vested interest groups and even rogue private individuals. Today the citizen — linked through platforms like Whatsapp, Twitter, Facebook and what have you — is both a consumer as well as disseminator of malicious news and content........


Moots startup-friendly and facile regime for businesses, revamp of I-T Act & changes to the tax brackets  A high-level government task force on direct taxes has proposed a rethink on the brackets, review of the surcharges levied on income tax, a regime that encourages startups and a revamp of the I-T Act to make it taxpayer-friendly, said people with knowledge of the matter. It is understood to have suggested changes to the tax brackets, in what could lead to significant relief for the middle …


2019-08-20

Ally, a goal setting and execution management software startup, has raised $8 million in a Series A funding round led by venture capital firms Accel Partners India, with participation from US-based funds Founders Co-op and Vulcan Capital, as well as Lee Fixel, the former private equity chief of Tiger Global Management. Ally helps businesses such as workplace collaboration firm Slack, telecom operator T-Mobile, and home services startup UrbanClap to accelerate their business performance “throug…


Chennai factory produced more than carmaker’s China units in H1 The gloom in the domestic automotive sector has a silver lining. India has replaced China as the largest overseas manufacturing operation for Hyundai Motor Company. During the first half of this calendar year, the South Korean car maker’s factory in Chennai produced more vehicles than the combined production of its units in China. The India volume is now second only to Hyundai’s domestic output in South Korea. According to re…


Imagine the deafening roar when 1.10 lakh cricket lovers exu ..  Read more at:http://timesofindia.indiatimes.com/articleshow/70746822.cms?utm_source=twitter.com&utm_medium=social&utm_campaign=TOIAhemdabad&utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst


2019-08-20

Across the country, over 350,000 postmen are offering doorstep financial services to people in even the remotest parts of India. They are equipped with a mobile phone and a hand-held biometric scanner to perform tasks of bankers including opening savings accounts, transferring money, paying utility bills, topup mobile phone, accepting cash deposits, and facilitating withdrawals. These have been trained and certified to provide banking services as well as to promote financial literacy in rural ar…


2019-08-19

Tesla and China’s Contemporary Amperex Technology Co. Ltd (CATL) are among the companies that have shown an initial interest in the Indian government’s plan to build large factories to make lithium-ion batteries at an investment of about ₹50,000 crore. Among the other firms that have shown an interest in the mega project is China’s BYD Co. Ltd, said two government officials aware of the matter, requesting anonymity. The robust global interest comes amid a strong push by the govern…


2019-08-19

RedDoorz, a hotel management and booking platform, on Monday said it raised $70 million in its latest round of funding led by Asia Partners, a Singapore-based growth equity firm. Rakuten Capital and Mirae Asset-Naver Asia Growth Fund have also joined the round. The company’s existing investors Qiming Venture Partners and International Finance Corporation (IFC) also participated in the round. This round is the first close of a larger Series C funding, the company said in a statement. The star…


2019-08-19

India's Prime Minister, Narendra Modi, will start a visit to the UAE this Friday. During the visit, Modi will deliberate with His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, prospects to enhance the long-standing friendship relations and strategic co-operation between the UAE and India. They will also discuss the latest regional and international developments and issues of mutual concern. The visit goes in line with…


The CBI has booked Madhya Pradesh Chief Minister Kamal Nath's nephew Ratul Puri, the then former executive director of Moser Baer and others in connection with a Rs-354 crore bank fraud case filed by Central Bank of India officials said on Sunday. Besides Ratul and the company, his father and Managing Director Deepak Puri, Directors Nita Puri (Ratul's mother and Kamal Nath's sister), Sanjay Jain and Vineet Sharma have also been booked by the agency for alleged criminal conspiracy, cheating, forg…


2019-08-19

Yashish Dahiya, co-founder and CEO, of PolicyBazaar shares insights on building a unicorn, what it means to get SoftBank on its cap table, expansion plans and more. According to Dahiya, opening up of FDI in the insurance space will help deepening the market further. In this part of the conversation with Mint's Associate Editor Shrija Agrawal, Dahiya adds that getting a deep-pocketed investor like SoftBank is like getting 'relentless capital' on board. He also talks about the rationale behind ene…


FPCE’s demand for a forensic audit stems from the apex court’s Amrapali Group ruling that directed the government to take appropriate steps on a time-bound basis  The pan-India home-buyers’ body Forum for People’s Collective Efforts (FPCE), based on the Supreme Court’s recent ruling in the matter of Amrapali Group, has approached the Prime Minister’s office to order forensic audits of all the housing projects that have been delayed for more than three years across the country. FPCE…


In 2010, Parsvnath through an auction had bought about 37 acre land located at Sarai Rohilla-Kishanganj area in the national capital from the RLDA for about Rs 1,650 crore Realty firm Parsvnath Ltd has received Rs 1,200 crore from Rail Land Development Authority (RLDA) as per a court order in a dispute related to a project here and said that the amount will be utilised to reduce debt. Last month, the Supreme Court had dismissed the appeal of the RLDA challenging a Delhi High Court order directin…


2019-08-19

The last time Hindustan Unilever (HUL) launched a new detergent was 32 years ago, when its market-leading brand Surf was unseated by low-cost rival Nirma. Now it’s ready with another, this time in the premium segment. HUL, India’s largest packaged goods firm by sales, is set to roll out detergent brand ‘Love & Care’, a new India-focused product, a top company executive said. It will be launched across top 30 cities in India this week. The new brand is created for washing premium fabri…


Coca-Cola is trying to get a foothold in the cafe space as its core carbonated drinks segment is seeing a slump  The promoters of the Coffee Day Group plan to restart talks with Coca-Cola for selling a chunk of their stake in the Café Coffee Day (CCD) chain in a bid to cut the group’s debt further, said people with knowledge of the matter. Group company Sical LogisticsNSE 4.95 % is also seeking to divest assets, they said. The late VG Siddhartha, the founder of Coffee Day Group, had been in…


Shortfalls persist but data for 340 NSE-listed firms suggest that compliance has improved India Inc breathed a sigh of relief when the high-level committee on CSR (corporate social responsibility) — appointed in September 2018 — recommended doing away with the penal provision of imprisonment for non-compliance with CSR norms. This had followed the recent amendments to the Companies Act 2013 treating CSR non-compliance as a criminal offence, and declaring stiff penalties and a jail term for …


Having pioneered business summits in the form of the Vibran ..  Read more at:http://timesofindia.indiatimes.com/articleshow/70719334.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst


Middle East

2019-08-20

Dubai Financial Market (DFM) has successfully contributed to the improvement of corporate governance practices in the United Arab Emirates through its partnership with the Hawkamah Institute for Corporate Governance. In 2017, DFM and Hawkamah signed an agreement to collaborate towards corporate sector reform in Dubai and the UAE through improving governance practices of listed companies. Hawkamah has since then trained over 100 Company Secretaries, and briefed the boards of more than 65% of DFM-…


2019-08-20

Etisalat announced on Monday the availability of 5G coverage in the world’s tallest building, ‘Burj Khalifa’, showcasing its readiness for the state-of-the-art 5G network and compatibility with industry leading 5G smartphones. The announcement follows various milestones related to 5g network and video calls achieved by the communications company this year. Today’s 5G call is a major step for Etisalat as it proves the network readiness and availability of the 5G network and services in th…


2019-08-20

A Saudi bakery and restaurant business specializing in pastries is finding its way into Saudi hearts with a delectable selection of fine Italian, French, and Swiss foods.Ahmad Essam, 28, a self-taught baker and chef, left a productive family business to create what is now one of the most prestigious bakeries in Alkhobar.Essam set up his bakery and restaurant while working as a production engineer, selling tarts and cakes to his friends.He was overwhelmed by the encouragement he received, and lit…


2019-08-20

Saudi Arabia’s Ambassador to Lebanon Walid Bukhari and Lebanon’s Minister of Information Jamal Jarrah on Monday inaugurated a photography exhibition celebrating 90 years of bilateral relations. The King Abdul Aziz Foundation for Research and Archives and the Abdulaziz Saud Al-Babtain Cultural Foundation provided the embassy in Lebanon with historical documents and photos for the exhibition, which was launched on World Photography Day. Some of the material dates back more than 90 years. Bukha…


Baoli, the French Riviera's celebrity hotspot, is set to open in Dubai in the emirate's financial hub. According to the DIFC register, Baoli Dubai will be located on the ninth floor in the new Gate Village 11. The Cannes-based restaurant-cum-nightspot is one of the French Riviera’s most famous party spots, with Bono and Jay Z among its fans......


2019-08-20

Makkah Gov. Prince Khalid Al-Faisal will patronize tomorrow’s Souq Okaz ceremony for the Taif Season on behalf of King Salman.The ceremony will be attended by the chairman of the board of directors of the Saudi Commission for Tourism and National Heritage, Ahmad bin Aqil Al-Khatib, ministers, diplomats and intellectuals from the Kingdom.Al-Khatib said that Prince Khalid Al-Faisal’s patronage of the ceremony reflects his interest in poetry, culture and Arab and Islamic civilization.Taif Seaso…


Lazard Ltd.’s success working on the blockbuster Saudi Aramco bond sale this year has put it in pole position to secure a coveted spot on the oil giant’s second attempt at the world’s largest initial public offering. Several rival bankers seeking a role on the IPO expect Lazard to get an advisory mandate, thanks to its work on the debut bond sale by Aramco that attracted more than $100 billion of orders, people with knowledge of the matter said. The boutique advisory firm has been pushing …


2019-08-20

Gulf Air, the national carrier of the Kingdom of Bahrain, recently promoted five long service Bahraini staff to become Cabin Service Managers – a position that is ranked the highest amongst hospitality services in the air. The five employees have progressed throughout their career from Flight Attendants to Cabin Senior and lately to Cabin Service Managers, marking their 25-year service for the national carrier. The new position will entitle the group to be in charge of all hospitality operatio…


2019-08-20

Dubai’s Roads and Transport Authority (RTA) has won the International Safety Award with Distinction 2019 from the British Safety Council, UK. RTA was named the best local government entity under the Local Government, Defence and Public Services Organisations Category.  The award recognises RTA’s excellent efforts to improve its occupational health and safety (H&S) management through protecting employees from injuries and occupational health risks and nurturing a safe and healthy working env…


Newly introduced to the UAE, the brand has built a reputation on its organic and results-driven skin care line Earlier this year, skin care expert Nellie Habibi partnered with The Spa, FIVE Palm Jumeirah to offer a range of facials using products from Canadian brand Nelly De Vuyst.  What are the three things that you would suggest for skin maintenance and protection in this region? You need to have a very good cream that’s actually going on to work on hydrating the skin from the outside. So…


Luxury five-star and four-star hotels commanded 34 and 25% of the emirate’s total inventory ata released by Dubai Tourism revealed that average occupancy in the emirate’s hotels in H1 of 2019 stood at 76%, one of the “highest hotel sector occupancies in the world”. According to the tourism ministry, establishments delivered a combined 15.71 million occupied room nights during the first six months of the year, which was a 5% increase over the same period in 2018. Spread across a total o…


2019-08-19

The GCC is gaining a stronger position to become a world-class global tourism hub backed by competitive advantages that attract international travellers looking for new tourism experiences, according to a report released by Orient Planet Research, an Orient Planet Group venture.The report highlighted that the GCC recorded 1.4 billion international tourist arrivals in 2018, up by 6 per cent from the previous year, which confirms the successful efforts of the UAE, Kingdom of Bahrain, Kingdom of Sa…


2019-08-19

Oman Air Cargo has successfully launched the mobile app to all Oman Air Cargo customers including shippers and freight forwarders. This is in collaboration with QuantumID Technologies, which is Oman Air’s cargo system solution provider for ‘SmartKargo’ platform.The mobile app was officially launched in the pilot station Oman (home market) in January 2019 at the annual event of Oman Air Cargo held in Muscat to felicitate and reward the best performing cargo clients and agents in Oman. The m…


2019-08-19

A new report by the global research and advisory firm Oxford Business Group (OBG) will map out the latest developments in Oman’s privatisation efforts and drive to attract investment for the non-oil sectors of its economy, such as transport and logistics, tourism and mining.Oman International Development and Investment Company (Ominvest) has signed a partnership agreement with OBG for its forthcoming publication. Under the agreement, the publicly-owned investment holding company will help to p…


Dubai’s Emaar Properties in April completed its acquisition of resort developer Mirage Leisure and Development, having bought the remaining 35 percent stake for $18 million, according to financial statements filed on the Dubai Financial Market last week. The developer secured a 65 percent stake in the company in October 2015 for $34m. Mirage Leisure and Development has developed a number of Emaar projects including the Dubai Opera, Armani Hotel and Address Downtown. It is also currently workin…


Sunset Hospitality Group, a Dubai-based hospitality investment and management company, has announced the opening of the region’s first Mood Rooftop Lounge in Dubai.  Slated for opening in October, Mood will deliver a new lifestyle experience to the city’s trendsetters, coupled with 180-degree views of the Dubai Downtown skyline, the company said in a statement. Sunset Hospitality Group also said it will open the first Sweet Chick restaurant in London in the fourth quarter of this year, as i…


2019-08-19

The Saudi Ministry of Labor and Social Development has launched a program to “prepare youth leaderships to support social development,” in partnership with the Social Counselling Association (Esham) and Princess Al-Anoud Charity Foundation, represented by Princess Al-Anoud Center for Youth Development (Wharf).The program, aimed at promoting social development in the region and empowering the region’s young men and women through a system of high-efficiency social services, was launched by…


2019-08-19

Saudi Arabia is to set up arts academies, including two in the next two years, offering a step toward academic qualification and enlarging the Kingdom’s footprint in heritage, arts and crafts, and music. The initiative is part of the Ministry of Culture’s Quality of Life program.  The minister, Prince Badr bin Abdullah bin Mohammed bin Farhan, said investment in “capacity building” was one of the most important elements in encouraging the cultural sector, which enjoyed unlimited suppor…


The UAE construction sector remains optimistic, with just over half (53 percent) of builders expecting 6-10 percent growth next year, according to new research. KPMG’s Global Construction Survey showed that industry leaders surveyed in the UAE are optimistic about growth prospects, and are confident that technology and governance are likely to play a significant role in the construction sector in the next five years. Professionals however remain divided over whether companies in the UAE are de…


2019-08-19

Alongside politics and religion, there is one other dinner party subject virtually guaranteed to push people to opposing extremes: Smoking. In much of the world — especially the West but increasingly in the Middle East and other emerging markets — tobacco has been marginalized to the point where smokers feel shunned and lonely in many social environments, banished to pavements or poorly ventilated kiosks in airports. After a series of multi-billion dollar lawsuits around the globe for the un…


South East Asia

Internet search giant Baidu Inc announced on Monday the launch of its cloud services in Singapore to support international Chinese companies and local Singapore businesses. Baidu said its artificial intelligence cloud services have won certification from authorities in Singapore, and has started to provide full-suite cloud services to Chinese internet, online game and financial companies which use Singapore as a hub of their global operations. Local Singapore companies are also clients. In the f…


2019-08-20

With the circular economy model moving from buzz to business and trade strategy, the Commerce Ministry has pledged to beef up promotion and campaigns for the circular economy to reduce waste and increase value-added production. According to Banjongjitt Angsusingh, director-general of International Trade Promotion Department, the Commerce Ministry through her department will start the campaigns with housing and decorative items and then move onto products made from agricultural raw materials. Fa…


2019-08-20

Leading mobile operator Advanced Info Service (AIS) has launched 5G-equipped surveillance vehicle technology that can help detect suspicious items and automobiles in southern Thailand. The prototype innovation, called surveillance and security vehicles, was presented when AIS organised a media event to present its 5G-powered technology in Songkhla on Friday. Video analytics and AI will bring video data from CCTV on vehicles to a central control room via the 5G network, enabling the analysis of i…


“Improved human resources for an advanced Indonesia” were the words that caught the attention of the audience when displayed on a big banner spread across a stage on which Finance Minister Sri Mulyani Indrawati was seen dancing with her staff to celebrate Indonesia's 74th year of independence. After decades of reliance on natural products, from spices, palm oil and raw ore to oil, President Joko “Jokowi” Widodo has reiterated his commitment to break Indonesia away from the “natural res…


State-owned train manufacturing company PT Industri Kereta Api Indonesia (Inka) is expecting to earn Rp 7.2 trillion (US$506.5 million) worth of order contracts this year, including from exports of rolling stock to African and Asian countries. Inka president director Budi Noviantoro said on Monday that the company, based on a contract signed in January 2018, would deliver 30 electro-diesel locomotives worth $91.3 million to Zambia. Under an October 2018 contract, Inka was delivering 250 train…


Publicly listed energy company PT Medco Energi Internasional plans to sell shares of its subsidiary PT Medco Power Indonesia (MPI) as a part of its strategy to reorganize its portfolio and strengthen power plant development. Medco Energi chief planning and financial officer Anthony R. Mathias said on Monday that his company had appointed US-based investment bank JP Morgan Chase to help with the process, which would be carried out through initial public offering (IPO). He added that the proce…


2019-08-20

[Extract from the Foreward to the book by Ramesh Subramaniam, Director General, Southeast Asia Department, Asian Development Bank] This book, Policies for High Quality, Safe, and Sustainable Food Supply in the Greater Mekong Subregion, draws on much of the groundbreaking work conducted by the GMS WGA and its many collaborators in the areas of food safety, quality assurance, and environment and climate-friendly agriculture practices. It identifies key lessons on enabling the transformation of th…


In July, at the Bangkok Asean Film Festival, Vietnamese movie The Third Wife was honoured with a Special Mention prize, with the jury noting its meticulous craftsmanship, strong acting and confident directing. In the movie set in rural Vietnam in the late 19th century, a young girl becomes the third wife of a wealthy land-owner. There are sex scenes and sequences showing child-birth. But while the film has been well-received overseas, including winning a prize at Toronto International Film Festi…


2019-08-20

Ho Chi Minh City holds potential for crop seed export, but it still needs the State’s support to boost seed development and production which have yet to meet expectations so far.There are 38 businesses producing and trading crop seeds in HCM City at present, supplying more than 45,000 tonnes of seeds to the market between 2016 and 2018.They have studied and developed 136 new plant varieties, 55 of which have been produced, including 46 vegetable, eight flower and one rice variety, according to…


2019-08-20

The Vietnam Cashew Association (Vinacas) has recently held a conference to review the industry’s performance in the first seven months of 2019 and seek solutions to the problems facing it.Pham Van Cong, chairman of Vinacas, said the industry has been facing a lot of difficulties since last year.This year, it exported nearly 245,000 tonnes, an increase of 10.8 percent year-on-year, but with global prices down by an average of nearly 22 percent, revenues were down 14 percent at 1.8 billion USD, …


2019-08-20

Vietnam is on the rise for Australian investors, said an article published on the Australian Financial Review ahead of Prime Minister Scott Morrison’s upcoming visit to the Southeast Asian nation. The article, by Michael Smith, said Prime Minister Scott Morrison arrives in Vietnam, a booming nation of 97 million where growth has remained strong. Vietnam is on track to this year keep up the GDP growth rate of over 6 percent that it has maintained since 2000. Cheap labour, a young population,…


2019-08-20

Chinese steel firm Mintal Group Co. Ltd has expressed a desire to build a 2 billion USD Ferocrom, stainless steel and non-ferrous metal factory in central Thanh Hoa province’s Nghi Son economic zone.The issue was discussed during a recent meeting between the Mintal Group’s representatives and the provincial People’s Committee .Specifically, the group will invest in a Ferocrom factory with a capacity of 1.5 million tonnes per year in the first phase and a stainless steel factory with a ca…


2019-08-20

The Department of Finance (DOF) has disputed the Philippine Economic Zone Authority’s (PEZA) claim it contributed P10 trillion to the economy from 2015 to 2017, saying the agency adopted a faulty method in coming up with its numbers.  In a statement, Finance Undersecretary and chief economist Gil Beltran hit PEZA for having “a weak grasp of basic economics and accounting,” and “erroneously” presenting figures about its contribution to the economy. According to Beltran, PEZA’s assert…


2019-08-20

Investors are looking for industrial and logistics assets through joint ventures with local industrial developers and/or acquisition of land and operating real estate, Jones LaSalle Vietnam Co Ltd (JLL Vietnam) said in a statement.   The company also said mergers and acquisitions (M&A) in real estate is a bright spot in the market because the manufacturing trends is shifting away from China to the Southeast Asia region and will continue to benefit the whole region, including Vietnam.   The lac…


Malaysian sovereign wealth fund Khazanah Nasional Bhd said on Monday (Aug 19) it had pumped another 300 million ringgit (US$72 million) into Malaysia Airlines to keep the national carrier afloat as it considers offers for the company. Malaysia Airlines has been struggling to transform its operations and return to profitability since two disasters struck in 2014, when flight MH370 mysteriously disappeared and flight MH17 was shot down over eastern Ukraine. Read more at https://www.channelnewsasi…


Artificial intelligence (AI) – or a technique that allows machines to learn from enormous sets of data – has marched into almost every aspect of our lives, including our homes and workplaces, even without us knowing. It is never too early to test and ask yourself: How ready are you to yield control of your life to AI? ....... http://bit.ly/2P3FUI0


A NEW hub connecting startups, organisations and professionals in the healthcare industry opened its doors to the community on Monday. The medtech hub, Catalyst, aims to quicken and improve the development of products and services that prevent or cure diseases. It is...


From automated transcription of voice recordings to the creation of a platform for combating fake news and the use of sentiment analysis to predict if a news story will go viral, Singapore Press Holdings (SPH) has tapped various tech innovations to transform its newsrooms. At the inaugural SPH Tech Day on Monday (Aug 19) where these innovations were presented, SPH chief executive Ng Yat Chung said that they are indicative of how the company is well on its way to transforming itself "from a new…


2019-08-20

Royal Dutch Shell is launching electric vehicle chargers at petrol stations in Singapore, its first such foray in Southeast Asia, the company said on Monday (Aug 19).   The electric vehicle charging service, 'Shell Recharge', will be available at 10 Shell petrol stations in Singapore by October, this year or about 20 per cent of its retail network in the city-state, the company said in a statement. Read more at https://www.todayonline.com/singapore/shell-debuts-electric-vehicle-chargers-singapo…


SOUTH-EAST Asia will be the fastest-growing region for co-location data centres over the next five years, with an expected compounded annual growth rate (CAGR) of 13 per cent from 2019 to 2024, according to a Cushman & Wakefield report on Aug 19. Big tech firms such as Google, Alibaba Group, and Amazon Web Services have expanded their cloud infrastructure footprint in the region in recent years, noted the report. Co-location data centres lease capacity and provide data centre services to clien…