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India
Ho says Taiwan has sufficient capacity that can be allocated to India, which has designing capability and market demand Taiwan is keen to collaborate with India and help it become a leader in the semiconductor space, Jason Ho, Chairman of the Taiwan Chamber of Commerce in India, said, asserting that the Taiwanese companies have the supply chain for things that the Indian market needs. Manufacturing semiconductors – used in electric and hybrid cars, drones, and communication devices – is f…
"India, a bordering neighbour to China, has seen a similar threat from TikTok and taken similar action, is going to be potentially relevant in some of the court filings to show that this is not simply some unique feature of America's viewpoint on China,” Carr said in an interaction with ET. US Federal Communications Commission (FCC) commissioner Brendan Carr said that India’s swift and preemptive action against TikTok could be a feature that plays out in American courts as the ByteDance-o…
The CFS issued a warning against the sale and purchase of MDH's Madras Curry Powder and Sambhar Masala, as well as Everest's Fish Curry Masala MDH, an Indian spice king, has strongly denied allegations of pesticide contamination following reports from food safety regulators in Hong Kong and Singapore. The controversy erupted when the Center for Food Safety (CFS) in Hong Kong detected ethylene oxide—a prohibited pesticide—in various pre-packaged spice products from MDH and another Indian bran…
Nearly 77 out of 100 proposed in first phase ready and commissioned...
Net fresher addition in Q4 for the company stood at 3,096 freshers. For the entire FY24, HCLTech added 12,141 freshers. The company's total headcount in Q4 was 227,481 IT services giant HCLTech on Friday during its Q4 earnings call said that the company will follow a similar hiring plan as last year, and has set up a target of adding more than 10,000 freshers in FY25..... More https://bit.ly/4aQehaF Via business-standard.com
The carmaker’s Japanese parent, Suzuki, is working on technology that would make hybrid vehicles affordable in India Maruti is also “seriously” considering bringing Suzuki’s plug-in hybrids to India, although not immediately Maruti Suzuki India Ltd’s Japanese parent, Suzuki Motor Co., is working on developing cost-effective technologies that would make the otherwise exorbitantly expensive hybrid cars affordable for buyers in India....
Matter deliberated at IRDAI - Industry meet, Bima Manthan The Insurance Regulatory and Development Authority of India (IRDAI) held deliberations on pricing and other modalities of the much awaited all in one affordable insurance product, Bima Vistar, with the captains of industry at the Two-day Bima Manthan concluded here on Friday.....
In India, the company has 27 active investments including in Swiggy, NSE India, Duroflex, Finova Capital, Kishlay Foods, Mintifi, Quikr among others Norwest Venture Partners, a global venture capital and growth equity investment firm, closed its $3 billion fund on Thursday. The firm will deploy the fund across three markets: US, India, and Israel. With the new fund closure, the firm’s total capital under management rose to $15.5 billion. The new fund would enable the Norwest team to continue p…
Tata Electronics, an arm of Tata conglomerate, has recently taken a bold step in India's tech sector by initiating a partnership aimed at localizing the production of iPhone casings. This move signifies a shift from reliance on China. Tata Electronics, a significant player in assembling enclosures for Apple iPhones in India, has partnered with companies in Pune and Bengaluru to enhance the development of high-precision machines, as per a report by Economic Times on April 26....
With 70,000 net additions, FY24 ended as the lowest intake year over a two-decade period The IT sector in India, after a complete fiscal of low-to-no freshers and entry-level hiring, will see fresher hiring pick up in FY25. As the deal pipeline swells, attrition comes down, and utilisation levels peak amid a tough demand environment, fresher hiring will also be an effective cost-play for IT firms.....
Middle East
This winter, ideal weather conditions in Tabuk nurtured a flourishing display of olive blossoms. The Ministry of Environment, Water and Agriculture's regional branch reports that the peak bloom occurred in April, a positive sign for a potentially abundant and high-quality olive harvest this year.The flowering stage is crucial for olive production, according to the ministry. By monitoring blossom health, experts can predict crop yield. Favorable weather, combined with proper tree care, significan…
NEOM, the sustainable development taking shape in northwest Saudi Arabia, hosted representatives from 52 global, regional and local financial institutions in the developing region. While in NEOM, guests witnessed ongoing progress across key projects such as THE LINE, Oxagon, Trojena, and Sindalah, the luxury island destination set to open soon. Financial institutions’ delegates gained a firsthand look at the entire NEOM project and its investment opportunities and participated in focus ses…
Najran's mud houses have a captivating charm, accentuated by the beauty of their doors that act as a portal into the region's rich heritage of folk architecture. The art of decorating wooden doors has become synonymous with Najran itself. As the first impression for any visitor, homeowners take great pride in adorning their doors with intricate patterns and designs.Doors are typically constructed from two or three panels of Sidr or Athel wood. The choice of wood, along with the complexity of the…
Cooperation framework agreement paves way for new downstream partnerships. Aramco, one of the world’s leading integrated energy and chemicals companies, is exploring the formation of a joint venture in the Saudi Aramco Jubail Refinery Company (“SASREF”) with Chinese partner Rongsheng Petrochemical Co. Ltd. (“Rongsheng”) and significant investments in the Saudi and Chinese petrochemical sectors, in partnership with Rongsheng. The Company recently signed a cooperation framework agreeme…
Dubai has once more showcased its appeal as an international maritime hub in the 2024 Leading Maritime Cities (LMC) report, securing the top spot in the Arab world and ranking 11th globally, moving up two places compared to the previous report in 2022. Dubai’s impressive showing as a maritime centre received due recognition in an international report launched recently in Singapore by DNV and Menon Economics, companies specialising in evaluating maritime capitals worldwide. According to the rep…
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, reviewed the strategic plan of the Dubai Aviation Engineering Projects and approved designs for the new passenger terminal at Al Maktoum International Airport, which will be the largest in the world when fully operational. Set to be built at a cost of AED128 billion, the new terminal will ultimately enable the airport to handle a passenger capacity of 260 million annually.The appr…
Shortlisted companies and individuals will be vetted by the Entrepreneur Middle East team and then the judging committee, chaired by Mastercard and industry leaders. Nominations are now open for the 2024 edition of the Mastercard Women SME Leaders Awards in partnership with Entrepreneur Middle East, an annual event that aims to empower women-owned and run small and medium enterprises (SMEs) across Eastern Europe, Middle East, and Africa. Women executives or business owners who have their head…
Startups in Egypt have started to gain momentum with several ventures securing funding to boost expansion efforts to the Kingdom. Following a period of startup funding stagnation, Egyptian founders have made their way back to the regional venture capital space with a flurry of investment deals and expansion strategies already in place....
Chinese food delivery giant Meituan is seeking to hire staff for at least eight positions based in Riyadh, in a sign it may be looking to Saudi Arabia to further its global expansion ambitions, according to Reuters....
Archer Aviation Inc., a leader in the development of electric vertical takeoff and landing (eVTOL) aircraft, announced the signing of a framework agreement in Abu Dhabi today at the DRIFTx mobility event, held at the Yas Marina Circuit showcasing the latest in advanced urban mobility, driving discussions, collaboration, and innovation across the sector. This agreement covers multi-hundred-million dollar investments to accelerate Archer’s planned commercial air taxi operations in the UAE, slate…
South East Asia
The digital economy’s annual contribution to the country’s economic output decreased as its growth slowed down in 2023, the Philippine Statistics Authority (PSA) reported on Thursday. Preliminary data from the statistics agency showed the digital economy’s share to the country’s gross domestic product (GDP) went down to 8.4% last year from 8.6% in 2022, making it the lowest share to GDP since 2018....... More https://bit.ly/4ddH0YB Via bworldonline.com
SINGAPORE’S growth should strengthen to “around its potential rate” for 2024 as a whole, the Monetary Authority of Singapore (MAS) said on Friday (Apr 26), in a slight upgrade of its earlier expectations. The negative output gap – where the economy’s output is less than what it can produce – is therefore expected to narrow and close by year-end, the central bank added in its half-yearly macroeconomic review.....
The Prime Minister has committed to resuming direct flights to Thailand. But it’s not a promise he will be able to deliver on anytime soon The Prime Minister has promised to resume direct flights between Thailand and New Zealand, but neither Air NZ or Thai Airways have any plans under way to make that happen.....
A TOP Vietnamese property tycoon sentenced to death in a US$27 billion fraud case has launched an appeal against her conviction, state media said on Friday (Apr 26). Truong My Lan, chair of major developer Van Thinh Phat, was found guilty this month of swindling cash from Saigon Commercial Bank (SCB) over a decade.....
- Total consideration for Capital A’s disposal and correspondingly, AirAsia Group’s acquisition amounting to RM6.8 billion, to be fulfilled with shares and debt settlement - Capital A’s shareholders’ equity to turn positive for the first time in 14 quarters following the divestment, while AirAsia X's shareholders’ equity to also strengthen post-transaction - AirAsia Group to fortify its position as the largest low cost carrier in Asia, with a win-win “One Airline” strategy set to t…
Anwar also denies report government is mulling over a second casino licence to revive the beleaguered US$100b development Berjaya Corp denied that company founder Vincent Tan was in talks to build a casino in Johor’s Forest City, as reported recently. The response came after Malaysia’s Prime Minister Anwar Ibrahim on Thursday (Apr 25) denied a recent news report that the government is mulling over a second casino licence to revive the beleaguered US$100 billion development in the southern s…
The Singapore economy is on track for faster growth in 2024, aided by resilient global demand for its exports and above-trend growth in tourism-related industries, the central bank said on April 26. The Monetary Authority of Singapore (MAS) maintained its estimate of 1 per cent to 3 per cent GDP growth in 2024, made in November, after the 1.1 per cent expansion in 2023. The main clusters of the economy are converging towards their pre-pandemic growth rates, it said.....
AirAsia Cambodia's inaugural flight graced the skies of Phnom Penh International Airport on April 20, bringing with it the promise of enhanced connectivity and a tourism boost for Cambodia. As noted by Prime Minister Hun Manet in a recent social media post, the aircraft, adorned with the iconic image of Angkor Wat and traditional Cambodian motifs, marks a significant milestone in the country's aviation industry.....
The Vietnam Online Business Forum 2024, themed “Sustainable E-Commerce”, kicked off in Hà Nội on April 25. The annual event, held by the Vietnam E-Commerce Association (VECOM), aimed to provide a comprehensive overview of e-commerce in the past year and shed light on the latest technology trends impacting the industry through a market research on smart consumer behavior and overview of the 2024 e-commerce market and its prominent trends....
The Asian Terminal, Inc. (ATI) and Dubai-based logistics firm DP World target to turn a newly registered economic zone in Cavite into a smart and world-class facility. This, as ATI and DP World inaugurated on Thursday the Tanza Container Terminal Inc. (TCTI) located inside the MetroCas Industrial Estates - Special Economic Zone (MIE-SEZ) in Barangay Calibuyo in Tanza, Cavite. “(T)he four-hectare facility features a concrete container yard, docking facilities with harbor cranes supported by rea…