India

ZPPL will offer services pertaining to electronic and virtual payment systems, e-wallets, mobile-wallets, cash card to consumers, said Zomato Zomato that went public last month has incorporated a wholly-owned subsidiary called Zomato Payments. The company was incorporated on August 4, said a regulatory filing. The company said in the filing that Zomato Payments Private Ltd (ZPPL) has been formed in accordance with the Reserve Bank of India rules to provide payment aggregator and payment gateway …


The sanctum sanctorum of the temple will be ready for devotees while the construction will be completed by 2025 Shri Ram Janmabhoomi Teerth Kshetra, which is overseeing the construction of the Ram temple in Ayodhya has said the temple would be open for devotees by late 2023. The sanctum sanctorum of the temple will be ready for devotees while the construction will be completed by 2025....


2021-08-05

India's financial-crime agency has asked Walmart's Flipkart and its founders to explain why they shouldn't face a penalty of $1.35 billion for alleged violation of foreign investment laws, three sources and an agency official told Reuters....


2021-08-05

Bharti Airtel Ltd reported decent earnings in a challenging quarter, thanks to strong growth in its India non-mobile business and Africa. However, the key India mobile business was impacted by the disruption caused by the second covid-19 wave, hurting its subscriber growth. Its subscriber base remained flat at 321 million in the June quarter (Q1FY22).....


2021-08-05

SBI reported a net profit of ₹6,504 crore in the three months to June, 55% higher year-on-year, on the back of lower provisions. On a whole, the bank’s asset quality deteriorated sequentially on account of covid-19 Despite rising delinquencies in home loans, State Bank of India (SBI) has no plans to rethink its strategy of aggressively growing this portfolio, given the significant potential of home finance, chairman Dinesh Khara said....


Banks were not to open current A/Cs of clients who had taken CC/OD facility The Reserve Bank of India has given banks three more months, till October 31, to implement the new rules on opening current accounts. This comes after thousands of small businesses across the country raised a cry after their current accounts were frozen on Monday, as banks rushed to comply with the RBI directive....


Two techies are marketing the drink in pint bottles at affordable price points Wine has airs about it — served with fine cheese at arty soirees and swirled and twirled before being savoured. Now, two former techies are trying to make wine more a fun and affordable drink, pitting it directly against strong beer. Sourced from farmers.....


2021-08-04

Merchantrade Asia Sdn Bhd has partnered with NPCI International Pte Ltd (NIPL), a wholly-owned subsidiary of National Payments Corporation of India (NPCI), to offer remittances to India. This partnership will enable Merchantrade and its network to connect to NIPL and facilitate remittance to beneficiary banks in India via the unified payments interface (UPI) platform....


Funds raised will be utilized for building a robust alternate platform for engineering education with job-leading interdisciplinary courses and for expanding into new geographies Engineering-focused edtech startup Skill-Lync announced on Tuesday to have raised $17.5 million in Series A round, led by Iron Pillar, a venture growth investor backing global tech companies built from India. Existing investors Y Combinator and Better Capital also participated in this funding round...


The UAE, a major international travel hub, has banned passengers from many South Asian and African countries for several months due to the coronavirus pandemic. The United Arab Emirates will lift a ban on transit passenger traffic from India, Pakistan, Nigeria and other countries from August 5, the National Emergency and Crisis Management Authority (NCEMA) said on Tuesday....


Middle East

Only after six months of operation in Qatar, Pivot LLC has started to work on projects with clients in retail, manufacturing, agri food, education, healthcare, and construction activities.  The company has received a strong response from the corporates said Jean-Marc Riegel, co-founder and General Manager of Pivot LLC speaking to The Peninsula during an interview.....


2021-08-04

www.arabnews.com Saudi Arabia-based AI startup Intelmatix has closed its first investment round led by STV, Mena’s largest venture capital fund, and Sultan Holdings, a leading strategic investor in some of Mena’s largest companies. “Artificial Intelligence offers opportunities worth billions,” Intelmatix Co-Founder and CEO Anas Alfaris, Wamda reported, citing a statement. “In the Saudi Arabian market alone, Location Intelligence opportunities exceed SR2 billion annually, and globally, …


2021-08-04

www.arabnews.com Youth in Saudi Arabia are using less cash compared to other age groups, a sign that the Kingdom’s plans to create a cashless society is on course. Only 18 percent of Saudis aged between 16 and 22 years use cash, while almost half of people who are 60 and above use cash till date, a report by Fintech Saudi showed. Read full article: https://arab.news/w4jap


Egypt's General Authority For Investments and Free Zones (GAFI) plans to launch a new platform to pool all the services provided to startups in one place, GAFI's CEO, Counselor Mohamed Abdel-Wahab, told Forbes Middle East, adding that this platform will be part of multiple initiatives to boost the country's growing startups sector....


2021-08-04

Mubadala Investment Company, an Abu Dhabi-based sovereign investor, announced that it will be the title sponsor for the Global Manufacturing and Industrialisation Summit (GMIS) for the fourth consecutive time. Taking place under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates, and Ruler of Dubai, the fourth edition of the event will run from November 22-27 in parallel with EXPO Dubai. Focusing on the theme Rewirin…


2021-08-04

- 30 Emiratis chosen to participate in park redesign along with project’s multi-disciplinary teams  - Selected participants include architects, interior designers and event planners- Park redesign is part of Dubai’s drive to transform itself into the world’s best city to live inBrand Dubai, the creative arm of the Government of Dubai Media Office (GDMO), and Dubai Municipality, today announced that they will redesign 10 public parks in the emirate as part of their joint redevelopment proj…


2021-08-04

Dubai CommerCity, the first dedicated e-commerce free zone in the Middle East, Africa and South Asia (MEASA) region has begun commercial operations signalling an exciting new chapter for global e-commerce and trade. The free zone provides seamless solutions to establish businesses and integrated services to drive the growth of licenced e-commerce companies. Companies can also benefit from unique service packages provided by global partners in logistics, information technology and other sectors. …


2021-08-04

For the first time in the Arab world, the United Arab Emirates will host the 38th International Symposium on Automation and Robotics in Construction (ISARC) in Dubai from 2nd to 5th November, 2021. Under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the UAE’s hosting of the premier event confirms the country’s position as a global destination for some of the world’s largest and most important events and…


2021-08-04

• This year’s edition will be held under the themeGeneration Next: Chambers 4.0.• The global event will see the participation of over 1,200 international delegates, including chamber leaders, business representatives and government heads.• The Congress is co-organised by the International Chamber of Commerce, its World Chambers Federation and Dubai Chamber. More than 1,200 international delegates will gather in Dubai from 23-25 November 2021 for the 12th World Chambers Congress (#12WCC).…


2021-08-04

Asia Pacific is expected to grow faster this year and 2022 than the Middle East and North Africa (MENA) and Latin America, according to Moody's Investors Service. The performance, however, would increasingly diverge within the region, Moody's said.....


South East Asia

2021-08-05

Malaysia Airlines Bhd (MAB) has partnered with GE Digital, a subsidiary of the American multinational conglomerate General Electric, to transform and modernise the airline's fuel efficiency programme by adopting the latter's Fuel Insight and FlightPulse aviation software. The partnership is part of MAB's ongoing initiative to meet its sustainable goals, embracing technologies by GE Digital to facilitate efficient and digitally connected operations.....


2021-08-05

Crude palm oil (CPO) prices could remain higher in the long-term due to supply issues arising from labour and other edible oil shortages due to adverse weather, said CGS-CIMB Securities Sdn Bhd. Its head of research Ivy NG Lee Fang and analyst Nagulan Ravi said the impact of workers shortage on production has become more visible and estimated a 5.5 per cent month-on-month (MoM) drop in CPO output to 1.5 million tonnes in July 2021.....


2021-08-05

Honda Malaysia Sdn Bhd saw a decline of 52 per cent in car sales for the year-on-year (YoY) period of May to July 2021, with only certain after-sales services allowed while sales and manufacturing operations were on halt. Managing director and chief executive officer Madoka Chujo said the Japanese auto marque sold about 5,700 units in this period compared to close to 12,000 units sold in the same period last year when the country was under Conditional Movement Control Order (CMCO) and Recovery M…


2021-08-05

Serba Dinamik Holdings Bhd says Nexia SSY has received professional clearance from KPMG to be its new external auditor. The appointment was effective from August 3 and was in accordance to Section 320 By-Law of the Malaysia Institute of Accountants, said Serba Dinamik.....


2021-08-05

The Intellectual Property Office of the Philippines' (Ipophl) online trademark filing tool is now using the European Union's (EU) harmonized database of goods and services (HDB), currently the largest multilingual trademark classification database in the world. In a statement, Ipophl said HDB contains over 78,000 terms that users can choose from when indicating the nature of the goods and services for which the mark is sought. All terms in the HDB are automatically accepted by Ipophl and all…


2021-08-05

San Miguel Food and Beverage Inc. (SMFB) saw earnings skyrocket during the first semester of 2021 with all its divisions posting higher incomes during the period. In a statement on Wednesday, the San Miguel Corporation unit reported a consolidated net income of ₱17.36 billion for January to June — a whopping 137% increase from the ₱7.34 billion tallied in the first six months of 2020.....


The Department of Energy (DOE) is soliciting comments from industry stakeholders on a draft circular that seeks to achieve a 35-percent renewable energy (RE) share in the power generation mix by implementing the Green Energy Auction Program (GEAP).....


DEL MONTE Pacific Ltd. (DMPL) on Wednesday said it is deferring the initial public offering (IPO) of its Philippine subsidiary amid heightened market volatility arising from a surge in coronavirus disease 2019 (COVID-19) infections. The announcement came just as the Securities and Exchange Commission (SEC) said it “considered favorably” the IPO applications of the two real estate investment trusts (REITs) sponsored by Robinsons Land Corp. (RLC) and Megaworld Corp., subject to remaining requi…


2021-08-05

As the challenges brought by the pandemic and African swine fever (ASF) continue, the Department of Agriculture (DA) has lowered its growth projection for the industry to two percent this year from its original target of 2.5 percent. “We hope to achieve a comfortable growth in sync with the population growth. So two percent would be a good target,” Agriculture Secretary William Dar said in a virtual briefing...


The recent return to tighter COVID-19 restrictions has left some feeling frustrated, hopeless and disappointed – the emotional effects of pandemic fatigue.  Mental health experts CNA spoke to said that these feelings are a result of things going south just when they were looking up....