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India
Agilitas will distribute Lotto products through online channels, standalone brand outlets and shop-in-shops with retail partners. Lotto stores will roll out in India in early 2025. Agilitas will sell footwear, apparel, accessories, and sports equipment under the brand. Agilitas Sports has acquired long-term licence rights to design, manufacture, and retail Italian sports brand Lotto in India, Australia, and South Africa from owner WHP Global....
This move comes as Tesla is expected to start importing its cars to India and make an investment in the country. Tata Motors plans to import its Jaguar Land Rover (JLR) luxury electric cars under a new government policy that lowers import taxes for companies agreeing to set up local manufacturing, two Indian government sources said. Tesla is also expected to start importing its cars to India and make an investment in the country, Reuters has reported, but Tata's plan if realised would make it…
Axiata Group Bhd's Sri Lankan unit Dialog Axiata PLC will acquire rival telco Airtel Lanka from Bharti Airtel Limited in exchange for 10.355% of the total issued shares in Dialog. According to a joint statement, the Telecommunications Regulatory Commission of Sri Lanka (TRCSL) has granted its approval for the proposed merger between Dialog Axiata, the operator of Sri Lanka’s leading quad-play connectivity provider, and Airtel Lanka, which offers 5G-ready 4G network across the country.....
Launched as Dailyhunt Premium, this subscription-based offering will provide users access to premium content from international publishers in over 60 languages VerSe Innovation, India’s biggest local language technology platform, announced its acquisition of Magzter, a cross-platform, self-service, global digital newsstand with a library of over 8,500 premium magazines and newspapers. VerSe runs new aggregator platform DailyHunt and short video platform Josh..... More https://bit.ly/4aFN62c…
The report noted that in India, where sales topped $250 million in 2022, all Cerelac baby cereals contain added sugar, averaging almost 3 grams per serving despite the World Health Organization's guidelines prohibiting added sugar in baby food. The Government of India has taken suo-moto cognisance of reports that Nestle reportedly added sugar to infant milk sold in India.....
The ambitious 50% jump in pre-tax profits from the expected $5 billion of Ebitda in FY24 follows the group’s demerger plan that entails a reorganization of its Mumbai-based Vedanta Ltd. into six separate entities based on their sectors Billionaire Anil Agarwal on Wednesday said his group’s UK-based flagship Vedanta Resources Ltd. will be achieving an annual operating profit of $7.5 billion within the next two years.....
Due diligence said to be at advanced stages, company to be valued at $430–450 million Japan’s Mizuho Bank and Dubai’s government-owned NBD Emirates are frontrunner to take over KKR’s stake in Avendus Capital. The two foreign investors are said to be at advanced stages of due diligence and are expected to submit their bids in the next 2 – 3 weeks......
Godfrey Phillips India had on April 12 announced its plan to sell the loss-making 24Seven convenience store chain after a review of its retail business division Godfrey Phillips, backed by the KK Modi group, is in discussions with Tata Trent, Reliance Retail, and Avenue Supermarts for a potential sale of its retail grocery chain, 24Seven, The Economic Times (ET) reported. The outcome of the talks will depend on the valuation, the business daily said, citing sources..... More https://bit.ly/444r…
Matthew Miller was asked why the US has not considered sanctions against India over the matter of the murder plot of Khalistani terrorist Gurpatwant Singh Pannun in New York, the killing of Hardeep Singh Nijjar in Canada and the reported killings in Pakistan.....
LinkedIn Top Companies 2024: Social media job portal LinkedIn has released its list of top 25 workplaces in India with over 5,000 employees, and a top-15 list for mid-size companies with less than 5,000 workers. Take a look. LinkedIn India Top Companies 2024: LinkedIn's annual ranking of top companies, listing the top 25 workplaces in India with over 5,000 employees globally, was released by the social media job portal in a blogpost on April 16....
Middle East
AD Ports Group, the leading facilitator of global trade, logistics, and industry, has announced today that its Ports Cluster is expanding its business remit to the global distribution of marine lubricants.The announcement came following a strategic agreement inked with ADNOC Distribution, the UAE’s leading manufacturer of marine and automotive lubricants.Under the terms of the agreement, the Ports Cluster will leverage its connections and advanced infrastructure to distribute high-demand, glob…
22 April 20249:00am - 11:30amConference Hall A ADNEC TVET Leaders Forum brings together leading national and global experts from sectors including business, industry, education, and technical and vocational training. The forum aims to find solutions to the most pressing global challenges facing education and technical and vocational training, promote partnerships to support innovation, and reduce the gap between education outcomes and labour market needs. This year, the forum is being held along…
His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, and His Excellency Gustavo Petro, President of Colombia, have witnessed the signing of a Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Colombia. The agreement was signed by His Excellency Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and His Excellency German Umaña, Minister of Industry, Commerce and Tourism for Colombia. The CEPA with Colombia is an import…
Varys Capital (“Varys”) has partnered with FundRock Investment Management Services (ME) Ltd (“FundRock”), a fund management company, licensed by the FSRA, to manage a feeder fund, Varys Capital Ventures (CEIC) Limited in the Abu Dhabi Global Market (ADGM). The feeder fund will invest its assets into a Master Fund (“Fund”), which was initially established as an early-stage, equity-focused venture fund with a mandate centered around blockchain innovation, Web3, and infrastructure. Th…
Key government, business and industry leaders attended a series of presentations and meetings in Beijing and Shanghai, organized in partnership with the China Council for the Promotion of International Trade (CCPIT) in Beijing and Shanghai NEOM has kicked off the China leg of its global ‘Discover NEOM’ tour with its showcase in Beijing and Shanghai, with over 500 senior business and industry leaders in attendance. The tour began in Beijing on April 15, followed by Shanghai on April 17. Organ…
Abu Dhabi National Insurance Company (ADNIC) has acquired a 51% stake in Allianz Saudi Fransi Cooperative Insurance Company, the Saudi affiliate of the German financial service provider Allianz Group, for $133.1 million (SAR 499 million), a bourse filing showed Thursday. Acquisition details The cost of acquisition was determined on the basis of a weighted average price of around $4.35 (SAR 16.3075) per share, according to the regulatory filing posted on the Abu Dhabi Securities Exchange (ADX)…
WFES is hosted by Masdar from 16 to 18 April 2024 Dubai Electricity and Water Authority (DEWA) is participating in four panel discussions during the World Future Energy Summit. Hosted by the Abu Dhabi Future Energy Company (Masdar) from 16 to 18 April 2024, the event aims to accelerate the pace of sustainable development and advance economic, social, and environmental development. DEWA is also showcasing its key projects and innovative initiatives in sustainability and renewable and clean energy…
Due diligence said to be at advanced stages, company to be valued at $430–450 million Japan’s Mizuho Bank and Dubai’s government-owned NBD Emirates are frontrunner to take over KKR’s stake in Avendus Capital. The two foreign investors are said to be at advanced stages of due diligence and are expected to submit their bids in the next 2 – 3 weeks......
- Triton Liquid, funded by leading US venture capital investors, has received an In-Principal Approval for a Financial Services Permission (FSP) - Triton’s launch will open greater access to more sophisticated, liquid, institutional-grade digital asset projects to Middle East investors, stimulating further economic diversification in the UAE - Triton cites the UAE’s “visionary leadership, financial services pedigree and constant drive for fintech innovation” as motivation for the move to…
Acknowledging Dubai International’s (DXB) achievement of retaining its title as the world's busiest international airport for the 10th year running, as announced by the Airports Council International (ACI), Dubai Airports CEO Paul Griffiths makes a statement on this remarkable feat: “While this milestone was greatly anticipated, its official confirmation instils us with great pride. DXB is proud to uphold its status as the world's foremost international airport for an unparalleled ten ye…
South East Asia
LinkedIn, a professional networking platform, unveiled its list of the top 15 companies renowned for fostering career development in Indonesia for the year 2024. Leading the pack is state-owned Bank Mandiri, recognized as the best workplace for career advancement in the country.....
Axiata Group Bhd's Sri Lankan unit Dialog Axiata PLC will acquire rival telco Airtel Lanka from Bharti Airtel Limited in exchange for 10.355% of the total issued shares in Dialog. According to a joint statement, the Telecommunications Regulatory Commission of Sri Lanka (TRCSL) has granted its approval for the proposed merger between Dialog Axiata, the operator of Sri Lanka’s leading quad-play connectivity provider, and Airtel Lanka, which offers 5G-ready 4G network across the country.....
Buoyed up by the recent spike in the two-way trade, the Royal Government of Cambodia (RGC) and the Australian Government recently reaffirmed their commitment to strengthen cooperation in key areas including investment, tourism, and agriculture while tackling the development of the Mekong-Australia Partnership (MAP). The commitment from both sides was made during the Fourth Senior Official’s Talks (4th SOTs) between Prak Nguon Hong, Secretary of State of the Ministry of Foreign Affairs and Inte…
The three-day gathering serves as a pivotal event in the beauty sector, showcasing cutting-edge solutions and technologies from leading nations, and offering a platform for businesses to extend their networks, forge new partnerships and seek international collaborative ventures. The Beautycare Expo 2024 kicked off on Thursday in Hà Nội, featuring over 250 booths from more than 15 countries and territories, hosted at the International Exhibition Centre (I.C.E) within the Vietnam-Soviet Friend…
The Lion City is keen to collaborate with South-east Asia’s 2023 star growth performer in economic transformation, renewable energy, carbon credits THE Philippines is “a very fertile ground” with a lot of potential still waiting to be tapped, and Singapore can play a role in the transformation of its economy, be it in master planning, training, or connecting local companies with global opportunities, said Singapore’s Minister for Foreign Affairs Vivian Balakrishnan.....
Condominium rents rebounded slightly in March after seven straight months of decline, supported by healthy leasing demand from renters who returned after the festive Chinese New Year period in February. Rental volumes for both condo units and Housing Board (HDB) flats recovered during the month, after falling in February. This is based on flash estimates released by SRX and 99.co on April 18.....
An exodus of Chinese real estate companies has left this Cambodian seaside resort littered with hundreds of half-finished projects. The concrete skeleton of one of these buildings stands on a piece of land owned by 51-year-old elementary school teacher Pan Sombo.....
IATA points to range of potential threats Aviation bodies project Thailand's passenger numbers to recover by next year, though economic uncertainties and the slow rebound of some supply chains still hamper the industry....https://www.bangkokpost.com/business/general/2777864/aviation-bodies-see-recovery-in-passenger-figures-by-2025
Fintech firm Pomelo said that it placed a spot in the list of the global venture capital firm GGV Capital’s Innovation 50 list for 2024 for being one of the most“promising fintech companies in the eyes of investors.” This development follows reports that Pomelo has successfully secured $35 million in venture capital from multiple investors, coupled with a substantial $75 million expansion of its warehouse facility.....
Young Malaysians are having fewer children than the generations before them. Economists warn that if this trend plays out concurrently with rising life expectancy, the country’s healthcare and pension systems, and the economy on the whole, will come under strain. Malaysia’s fertility rate – the average number of births per woman – plummeted from 4.9 in 1970 to just 1.6 in 2023, a span of just over 50 years. The 1.6 figure, on a par with that of the United States, is a record low in Malay…