India

2024-03-19

Floor price at ₹4,001 a share; block deal follows ₹17,000 crore buyback in November Tata Sons Pvt Ltd plans to raise over a billion dollars by selling a chunk of its shares in Tata Consultancy Services Ltd, at a time the conglomerate is entering newage businesses such as semiconductors, e-commerce, and phone assembly. The Tata group holding company plans to sell up to 23.4 million shares worth 0.65% stake in TCS through block deals to raise ₹9,362.3 crore ($1.12 billion), according to a te…


The airline will offer over 360 daily departures from March 31st to October 26th, 2024 Air India Express is ramping up for summer with a bigger flight schedule. The airline will offer over 360 daily departures from March 31st to October 26th, 2024. That’s a 25 per cent increase in domestic flights and 20 per cent more international flights compared to last summer.....


2024-03-18

Jebel Ali Free Zone (Jafza) is emerging as the powerhouse driving the unprecedented growth of India-UAE trade, with a 28% year-on-year surge in new Indian businesses setting up in the trade and logistics hub. DP World’s flagship economic zone has seen 190 new companies from India established in 2023, bringing the total number of Indian businesses in Jafza up by 15% year-on-year to over 1,500. The surge in customers was announced following a series of Jafza trade events in Mumbai and Hyderabad …


Gadkari said the scrapping of the electoral bonds scheme would open the floodgates for black money in political funding and all the parties should consider developing a better system. Union Minister of Road Transport and Highways Nitin Gadkari on Monday supported the electoral bonds scheme for political funding. Gadkari said the scrapping of the electoral bonds scheme would open the floodgates for black money in political funding and all the parties should consider developing a better system....…


At present, Air India, IndiGo, SpiceJet and Vistara operate flights between India and Bangkok India and Thailand have agreed to expand flight connectivity to boost trade and tourism. The two countries signed a memorandum of understanding on air services in Bangkok on Friday - a day before the announcement of general elections.....


2024-03-17

The demand order has been received in respect of excess availment of input tax credit and short payment of GST, said Zomato. Online food delivery app Zomato has received a goods and services tax (GST) penalty notice from Gujarat's Deputy Commissioner of State Tax --an order for FY2018-19 pursuant to the audit of GST returns and accounts. According to a regulatory filing to the stock exchanges,....


2024-03-17

He also criticised Congress leader Rahul Gandhi who had earlier claimed that the BJP was running the "biggest extortion in the world" through the Electoral Bond Scheme. Expelled Congress leader Acharya Pramod Krishnam has defended the Centre in the face of Opposition criticism over the publication of data on electoral bond funding. Krishnam questioned if the Opposition was implying that all 1,300 companies that donated via these bonds were 'thieves'.....


Counting will be held for all the seats on June 4 The Lok Sabha polls will be held in seven phases, beginning April 19, in which the fate of 102 seats across 21 states will be sealed to the last phase on June 1 in 57 seats in 8 states, the Election Commission said announcing the detailed poll schedule for the General Elections as as well as assembly polls in four states and by-elections in 26 constituencies......


2024-03-13

With its ‘Raahi’ e-rickshaw, Ola Electric will enter a competitive electric three-wheeler space, challenging players such as Mahindra Treo, Piaggio Ape e-city, and Bajaj RE in the arena Ola Electric is gearing up to introduce its electric autorickshaw likely to be named 'Raahi', directly targeted at consumers, later this month (March 2024), The Economic Times reported citing sources.....


India's first semiconductor chip from the Tata Group plant in Dholera will most likely be out by 2026. Frank Huang, chairman of Taiwan's Powerchip Semiconductor Manufacturing Corporation, told the Economic Times in an interview that Dholera will debut with 28 nanometer chips, which can be "later moved down to 22 nm".....


Middle East

2024-03-18

- Riyadh Air signed significant agreements in its first twelve months with aviation, transportation and sport partners including Saudia, Turkish Airlines, Boeing, GE, CAE, Swiss AS, Lufthansa Systems and Lucid Motors. - Major technology partnerships agreed with IBM, Accenture, Microsoft, Oracle, Sabre, Accenture and Adobe. - During its first year, Riyadh Air unveiled two beautiful permanent dual-livery designs to the world - In year one Riyadh Air received over 1 million online applications from…


2024-03-18

Jebel Ali Free Zone (Jafza) is emerging as the powerhouse driving the unprecedented growth of India-UAE trade, with a 28% year-on-year surge in new Indian businesses setting up in the trade and logistics hub. DP World’s flagship economic zone has seen 190 new companies from India established in 2023, bringing the total number of Indian businesses in Jafza up by 15% year-on-year to over 1,500. The surge in customers was announced following a series of Jafza trade events in Mumbai and Hyderabad …


2024-03-18

HE Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), has revealed that DEWA made a significant achievement in improving electricity and water production efficiency, with a 41.73% increase in 2023 compared to 2006. This equates to a cumulative reduction of 92.5 million tonnes of carbon dioxide emissions between 2006 and 2023, equivalent to planting 484 million trees required to absorb this amount of CO2 emission. “At DEWA, we are committed to achieving the visio…


2024-03-17

- Mohammad Ali Rashed Lootah: “We are keen to enhance the digital and operational readiness of Dubai-based companies to keep pace with the evolving requirements of the ecommerce sector.” - Ecommerce is expected to generate revenue of more than US$ 6.7 billion in the UAE during 2024.  Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has collaborated with Amazon to host an online workshop aimed at developing the ecommerce capabilities of th…


2024-03-17

DMCC has announced Dubai’s diamond trade figures for 2023, headlined by 2% year-on-year growth in the value of rough and polished diamonds traded to reach USD 38.3 billion. This represents a five-year compound annual growth rate of 11%. Reflecting the UAE’s status as one of the world’s largest diamond trading hubs, the value of polished diamonds traded in the UAE grew 32% year-on-year to reach USD 16.9 billion. Dubai’s diamond industry has historically centred on rough diamonds, becoming…


2024-03-12

Kigali International Financial Centre (KIFC), a financial centre that aims to transform Rwanda into a leading financial destination for investors seeking opportunities across the African continent, and Abu Dhabi Global Market (ADGM), the leading International Financial Center (IFC) of the UAE’s capital, which provides a world-class business environment, creating an active community, and supports economic diversification in alignment with Abu Dhabi's vision, have signed a Memorandum of Understa…


BRKZ is on a mission to build a tech-enabled ecosystem to revolutionize the MENA construction industry. BRKZ, a Saudi Arabia-based B2B construction tech startup, has raised US$8 million in a Series A round that will be used for deepening its proprietary capabilities to get closer to becoming a one-stop-shop for the MENA region's construction industry. The startup also aims to expand its footprint across Saudi Arabia and the MENA region....


2024-03-12

The UAE’s construction market is projected to grow by an average of 3 percent a year until 2028, driven by transport and renewable energy investments, according to GlobalData. The Emirates News Agency cited a recent report from the London-based data analytics firm, which forecasts a steady development trajectory for the market — valued at $94 billion in 2023......


2024-03-12

Real estate transactions are set to surge in Saudi Arabia in 2024 thanks to Vision 2023 investments, according to an S&P Global report. In a report titled “GCC Real Estate How Credit Stories Have Evolved,” S&P believes the Kingdom’s property sector will also benefit from economic growth of up to 3 percent in the Gulf Cooperation Council region for the current year.......


2024-03-12

stc Group, a global leader in digital transformation, has successfully concluded its participation in LEAP 2024, the world’s most-attended tech event, as its primary strategic partner and exhibitor.  At the event, stc Group reaffirmed its commitment to digital innovation beyond connectivity, by demonstrating advanced technological solutions in health, logistics, megaprojects and sports. The Group also showcased its expanding scale and scope through announcing strategic agreements and partners…


South East Asia

2024-03-19

Intellectual property (IP) filings in the country inched up by 2.5 percent in 2023 amid increased awareness on the importance of IP, according to the IP Office of the Philippines (IPOPHL). In a statement yesterday, the IPOPHL said applications of trademarks, patents, utility models (UM) and industrial designs (ID) reached 49,832 in 2023 from 48,600 in 2022......


Better macro conditions, robust infrastructure development and resilient consumer spending could hold up FBM KLCI stocks THE earnings momentum of the heavyweights on the Malaysian bourse’s key index may have eased up by over 11 per cent in the final quarter of last year from the same period in 2022, but analysts are not harping on that.....


WHILE Singapore remains an attractive global financial hub, wealthy families are now considering other options besides setting up their own single family offices (SFOs) here to better suit their needs. Industry players noted that SFOs in Singapore are likely to merge or find alternative models amid the rising cost of operations.....


At present, Air India, IndiGo, SpiceJet and Vistara operate flights between India and Bangkok India and Thailand have agreed to expand flight connectivity to boost trade and tourism. The two countries signed a memorandum of understanding on air services in Bangkok on Friday - a day before the announcement of general elections.....


2024-03-13

The Songkran festival is expected to generate 24.4 billion baht during the five-day holiday, drawing 510,000 foreign travellers and 4.29 million domestic trips, according to the Tourism Authority of Thailand.The government plans to launch Maha Songkran World Water Festival 2024 to showcase water splashing activities and persuade more foreign tourists to visit the country....https://www.bangkokpost.com/business/general/2757553/tat-eyes-b24-4bn-from-songkran


Minister of Commerce Cham Nimul has emphasised the need to enhance the quality and sustainability of Cambodian rice exports to build a long-lasting reputation on the international stage.  “The primary focus for us is sustainability and trust in the quality of Cambodian rice. We’re not just looking at today or tomorrow, or even the next couple of years. Our vision is to elevate the Kingdom’s reputation on the international stage and in the rice market for many years to come,” she stated.…


2024-03-13

Vietnam is the most important market of Argentina in the Association of Southeast Asian Nations (ASEAN), said the Secretary of Agriculture, Livestock and Fisheries of Argentina, Fernando Vilella. Speaking to a Vietnam News Agency reporter on the sidelines of the 2024 Argentina Agricultural Exhibition Expoagro in Buenos Aires, the official said that Vietnam is also a key market in Argentina's trade development strategy.....


2024-03-13

AMERICAN COMPANIES are looking to invest in the Philippines’ semiconductor industry with the aim of doubling the number of existing packaging, testing, and assembly facilities, the US Department of Commerce said on Tuesday. “The US companies realized that our chip supply chain is way too concentrated in just a few countries in the world,” US Commerce Secretary Gina M. Raimondo told a business forum in Makati City on Tuesday.....


Malaysia continues to remain an attractive option for foreigners looking at a residency visa scheme, but the prolonged standstill in approvals for the Malaysia My Second Home (MM2H) programme is wearing their patience thin and could hurt interest. Industry players told The Business Times that Malaysia’s recently refreshed criteria with more attractive conditions under the visa programme have yet to have an impact as all new applications are on hold, pending parliament’s green light.....


Singapore plans to further tighten scrutiny on the close to 3,000 firms providing corporate services, in a bid to strengthen the anti-money laundering controls here. Under a draft law it is planning, firms’ failure to comply with anti-money laundering/countering the financing of terrorism obligations could see them and their senior management fined up to $100,000 per breach if convicted....