India

2024-06-14

Amul has expanded from 19 operational ice cream plants until last year to 25, having invested more than Rs 1,000 crore this year in capacity. It aims to double ice cream capacity in two years On the one hand, ice cream is hot this summer, with healthy sales growth of 15 to 20 per cent being projected as the mercury rises to unprecedented levels in parts of the country..... More https://bit.ly/3RqNp9G Via business-standard.com


Maharashtra Industries Minister Uday Samant said that this investment would increase job opportunities in the state, as well as industries. German luxury car-maker Mercedes-Benz will invest Rs 3,000 crore in Maharashtra, said state minister after he met top executives of the company. The two sides met to discuss investment opportunities in the state, after which Industries Minister Uday Samant, confirmed the development on social media. ....


2024-06-14

The state-run insurance behemoth is planning to foray into health cover business with a readymade customer base, preferring to take over a player that has digital capabilities. LIC intends to leverage its network in the country to grow the planned health insurance business Life Insurance Corp. of India (LIC) is planning to acquire one of India's five private standalone health insurance companies to secure a beachhead in the country's growing health insurance market, two LIC executives said....


India boasts a diverse array of toys. These can be transformed into captivating characters and popularised through cinema The global toy and games market is anticipated to touch $130 billion in 2024, with dominant players like Hasbro, Mattel, Spin Master, and LEGO spanning various product categories such as action figures, dolls, puzzles, among others, according to Statista, a global data and business intelligence platform. These leading companies produce renowned toys and games, leveraging icon…


2024-06-13

In 2023 about 600,000 primary homes were built in India and even a fast pace of growth in the construction sector would struggle to meet the demand for 100 million homes Indian home builders may have to construct as many as 100 million new dwelling units this decade as rising household incomes in the world’s fastest-growing major economy buoy demand for new residences, according to a top official at one of the country’s largest developers..... More https://bit.ly/4b3HHkS Via business-standa…


2024-06-13

The new talent and production company, AIG India, will focus on identifying, nurturing, and promoting Indian talent across various artistic disciplines Artist International Group (AIG), a global talent representation and film and TV production companyled by David Unger, and content creation firm Creativeland Studios have announced a joint venture to bring AIG to India....


The Indian cement industry is poised for growth, with demand expected to rise at a compound annual growth rate (CAGR) of 7-8% over the next five years. The Adani Group is reportedly pursuing multiple acquisitions in the cement sector, which includes Penna Cement, Saurashtra Cement, Jaiprakash Associates, and Vadraj Cement owned by ABG Shipyard as it ramps up its efforts to capture around one-fifth of the Indian cement market by FY28. Adani Cement at present is the second leading company in the s…


Improved transportation has altered buying & selling/ consumption patterns in rural households, the research report says There appears to be a nearly equivalent increase across fractile classes in Monthly Per Capita Consumption Expenditure (MPCE) spanning both rural and urban areas over the decade, with a sharp reduction in the gap between the top and bottom fractiles in urban areas in particular, according to a State Bank of India Research Report....  


2024-06-12

Apple's vendors achieve 25% of FY25 target under PLI scheme Technology giant Apple Inc has pushed the pedal on exporting iPhones from India by racking up exports valued at over $2 billion in the first two months of the current financial year (FY25). This accounts for 81 per cent of the country’s total production of iPhones worth $2.6 billion..... More https://bit.ly/3RmqJqU Via business-standard.com


2024-06-12

Quess plans to establish 15 Jobspot centres this year, which will offer employment to over one lakh entry-level and experienced blue-collar workers. The centres will provide access to formal employment, skill development, and social security benefits during their tenure with the company.Quess Corp on Tuesday announced the launch of Jobspot, a blue-collar recruitment hub, to address the growing demand for talent in the industrial sector. The first two Jobspot centres were inaugurated at Narasapur…


Middle East

2024-06-14

Emirates has begun using sustainable aviation fuel (SAF) as part of its fuel agreement with Neste on flights departing from Singapore Changi Airport, marking its inaugural SAF investment in Asia. Approximately 3.3 million litres of blended SAF have been integrated into the fuelling system of Changi airport over the course of the last few weeks. Emirates is tracking the delivery of SAF into the fuelling systems, accounting for and assigning its environmental benefits through widely used and accep…


2024-06-14

Saudi Arabia’s economy witnessed growth of 1.4 percent in the first quarter of 2024 – higher than that seen across the G20 as a whole, according to new data.   The Organisation for Economic Co-operation and Development has released its latest gross domestic product report for the G20 countries, noting that the Kingdom bounced back from a contraction of 0.6 percent in the previous three-month period.....


2024-06-14

DP World, a leading provider of global smart supply chain solutions, has announced golfing superstar Tommy Fleetwood as its latest Global Ambassador. He joins cricketing royalty Sachin Tendulkar, who was announced as a DP World Global Ambassador late last year.  Fleetwood, currently ranked World Number 13, was a member of last year’s victorious European Ryder Cup team to become a two-time winner, he has amassed seven wins on the DP World Tour, and finished a career-high sixth in the FedEx Cu…


2024-06-14

The Dubai Electricity and Water Authority (DEWA) has achieved impressive rankings across various indicators in the Brand Finance Middle East 150 report for 2024. Specifically, DEWA secured the top position among utilities in the UAE and ranked second in the region for brand value. Additionally, the report recognized DEWA's excellence in sustainability perception, naming it the leading entity in the UAE in terms of ESG (Environmental, Social, and Governance) performance. Brand Valuation Process B…


2024-06-14

Dubai’s Roads and Transport Authority (RTA) has announced the business hours of all its services during the holiday of Eid Al Adha 1445H/ 2024, which extends from 9 to 12 Dhu Al Hijja 1445H (Saturday 15 June to Tuesday 18 June 2024). RTA service facilities include Customer Happiness Centres, Paid Parking Zones, Public Buses, Dubai Metro and Tram, Marine Transport means, and Service Provider Centres (Vehicle Testing). Service Providers Centres (Vehicle Testing) All Service Providers Centres wil…


2024-06-13

Located at Elanan, one of Magna’s destinations on the Gulf of Aqaba coast, this coastal sanctuary offers rest and relaxation, infused with innovative design. Capella Hotels and Resorts announces its first coastal destination in Saudi Arabia, set within NEOM at Elanan, one of Magna’s destinations, against the backdrop of stunning desert mountains and the Gulf of Aqaba coastline. The resort will open an exclusive wellness retreat as part of the sustainable development unfolding in northwest…


2024-06-13

Aramco, one of the world’s leading integrated energy and chemicals companies, and NextDecade Corporation (NextDecade) announced today that their respective subsidiaries have executed a non-binding Heads of Agreement (HoA) for a 20-year liquefied natural gas sale and purchase agreement (LNG SPA) for offtake from Train 4 at the Rio Grande LNG Facility at the Port of Brownsville, Texas, USA. Under the terms of the HoA, Aramco expects to purchase 1.2 million tonnes per annum (MTPA) of LNG for 20 y…


2024-06-13

Red Sea Global celebrates milestone achievements for the Turtle Bay Hospital with design approval from the Ministry of Health and construction underway.  Red Sea Global (RSG), the developer behind regenerative tourism destinations The Red Sea and AMAALA, shares substantial progress on its Turtle Bay Hospital. The hospital, located in The Red Sea’s Turtle Bay area, will provide world-class healthcare to the community of people living in, working at, and visiting the 1.5million m² waterfront s…


2024-06-13

“DIFC, in its capacity as a member of the UAE Sustainable Finance Working Group, continues to spearhead a range of comprehensive sustainability programmes in the pursuit of a net zero future in collaboration with the government, aligned with the UAE’s ‘Year of Sustainability’, the long-term goals of the Paris Agreement, and the United Nations Sustainable Development Goals for 2030”. – His Excellency Essa Kazim, Governor of the Dubai International Financial Centre (DIFC) In line with …


2024-06-13

- DMCC hosts latest trade roadshow in New Delhi and Mumbai to attract new wave of Indian businesses to its district in Dubai - Over 160 new Indian companies joined DMCC in the year-to-date - Almost 3,900 Indian businesses now make up 16% of DMCC’s 24,000 members - Roadshow builds on the flourishing UAE-India trade relationship, with non-oil trade growing 16% since the CEPA signing to reach USD 85 billion in 2023   DMCC – the world’s flagship free zone and Government of Dubai Authority…


South East Asia

2024-06-14

FPT is accompanying Da Nang in preparing and training high-quality human resources for the semiconductor industry, with a goal of helping the central city become a "Silicon Valley" of Vietnam. The statement was made by Pham Minh Tuan, Executive Vice President of the FPT Group and CEO of FPT Software, while meeting Phan Dinh Trac, Politburo member, Secretary of the Party Central Committee and Chairman of its Commission for Internal Affairs, in the city on June 13....


Budget carrier Cebu Pacific has added a new turboprop aircraft to its fleet, allowing it to boost inter-island connectivity. Cebu Pacific CEO Michael Szucs said the carrier has taken delivery of a new ATR 72-600 aircraft, marking its sixth aircraft acquisition of the year....


2024-06-14

The Cabinet has provisionally approved a stringent new regulation that changes the legal approach to methamphetamine possession. Under the new law, individuals found with more than one methamphetamine tablet are to be considered offenders and will not qualify for rehabilitation options. The adjustment is a modification of previous legislation, which only subjected individuals caught with five or more tablets to legal prosecution. The change aims to close a loophole that allowed individuals posse…


The policewoman allegedly doused her husband - a fellow police officer - with gasoline and set him on fire after finding out that he had been gambling away his salary bonus. An Indonesian policewoman has been charged with killing her husband, a fellow police officer, by allegedly burning him to death because of his gambling addiction, in a case which has cast the spotlight on online gambling in Indonesia....


Economists expect limited inflation from diesel price hike but foresee significant price pressures if RON95 subsidy is removed Snaking queues were spotted at several fuel stations in Terengganu, Malaysia’s eastern state, last Sunday evening (Jun 9) as vehicle owners scrambled to get the last pump of “cheap” diesel. As Malaysia ended diesel subsidies effective Jun 10, resulting in fuel prices rising by more than half to market rates, it is likely that fuel stations across other states also …


With punishment meted out to the 10th and last offender, CNA's Lydia Lam ties together the multiple strands of an episode that has attracted global interest.  On a sleepy Wednesday evening in mid-August 2023, nine men and one woman were charged in Singapore’s State Courts with various, seemingly nondescript financial crimes: Possessing criminal benefits, forging bank statements and laundering money. In the hours that followed, the story came to life via explosive headlines: The 10 suspects we…


2024-06-13

THE STRONG PRESENCE of offshore gambling operators complicates the Philippines’ efforts against dirty money and does not bode well for its ambition to become an investment hub, economists warned. Money laundering in gaming activities has been a major concern of the Financial Action Task Force (FATF), which has placed Manila under its “gray list” of countries under increased monitoring for dirty money since 2021, said Enrico P. Villanueva, who teaches money and banking at University of th…


2024-06-13

Bank Negara Malaysia (BNM) is set to revamp its Fund for Small and Medium Enterprises (SMEs) to better align it according to the latter’s needs, its Deputy Governor Datuk Jessica Chew said. "We are redesigning how we construct and roll out our SME funds,” she said, citing that only one-third of its RM1.5 billion allocation for SME Automation and Digitalisation Facility (ADF) has been taken up so far.....


2024-06-13

The Airlines Association of Thailand (AAT) has urged the government to elevate more regional airports to become international airports, aiming to generate higher tourism revenue for 55 second-tier cities. During the "Ignite Tourism Thailand" event chaired by Prime Minister Srettha Thavisin on Tuesday, AAT president Puttipong Prasarttong-Osoth said authorities should develop more regional airports, enabling them to accommodate international flights, which could help attract tourists to nearby pro…


2024-06-13

Vietnam expected to start official gold imports by July or August  Vietnam could allow companies to import gold for the first time in over a decade, as it aims to bridge the widening gap between local prices and international benchmarks, an industry official told Reuters.The Vietnam Gold Traders Association (VGTA) has been in protracted talks with the government...https://www.bangkokpost.com/business/general/2809695/vietnam-could-allow-companies-to-import-gold-for-first-time-in-years-industry-o…