Sebi gives more exposure to passive funds in group firms The Securities and Exchange Board of India (Sebi) on Tuesday allowed non-resident Indians (NRIs) to own up to 100 per cent in global funds at the GIFT City and gave passive funds more exposure to group companies..... More https://bit.ly/3JHrNkZ Via business-standard.com

Since taking charge of Google in 2015, Pichai, 51, has seen a remarkable run, with the company’s stock soaring over 400%, outpacing the S&P 500 and Nasdaq indices.   Alphabet CEO Sundar Pichai is nearing a rare milestone for a non-founder in the tech industry: A billion-dollar fortune.  Since taking charge of Google in 2015, Pichai, 51, has seen a remarkable run, with the company’s stock soaring over 400%, outpacing the S&P 500 and Nasdaq indices...

Experts said that while the central government has been encouraging large-scale manufacturing under the Atmanirbhar Bharat initiative, the services sector still contributes over half of India’s economic output Services sector raced ahead in company registrations in the just-ended financial year, reflecting the rapid formalization of a segment with few entry barriers. While services accounted for 71% of the 185,300-plus new companies registered in FY24, industry made up less than a fourth, whil…

Godrej Industries Limited is a holding company with presence in fast moving consumer goods, agriculture, real estate, chemicals and financial services The 126-year-old conglomerate Godrej Industries has been split amicably after the family signed a settlement agreement. The two factions of the Godrej family,  Godrej Industries & Associates headed by brothers Adi and Nadir Godrej, and Godrej & Boyce Manufacturing Company led by their cousin Jamshyd Godrej and his sister Smitha Godrej Crishna, …

Unicorns, or companies valued above a billion dollars, have been finding it difficult to raise capital in the last 12-18 months of the funding winter Unicorns on deal street are finding little love, as investors chasing rising valuations hitch their wagons to smaller startups. Founders, investors and bankers noted greater interest in companies valued up to a billion dollars, while those above $2 billion find few takers. There were 318 deals in companies valued below $1 billion this year against…

Experts say the objective of JioCinema's Rs 1 a day pricing is to increase the subscriber but it has to be matched by a high volume of content Not entirely unexpected, JioCinema has unleashed its new pricing. The OTT platform has been among the last entrants to the space and in a market with established players – both in terms of content and subscriber base – this does remind one of what parent, Reliance had done with the telecommunications sector in 2016.....

The steady rise in Currency in Circulation at 15 per cent compounded annual growth rate in seven years (FY17-FY24), reflects a strong economic performance, and signals a boom cycle, according to CMS’ Consumption Report for 2024 The steady rise in Currency in Circulation (CIC) at 15 per cent compounded annual growth rate (CAGR) in seven years (FY17-FY24) reflects a strong economic performance, and signals a boom cycle, according to CMS’ Consumption Report for 2024.....

22 May 2024THE LEELA, MUMBAI Reimagine Experiences, Redefine Loyalty Connecting global CX innovators with influential leaders in technology, customer experience and digital transformation to redefine and re-imagine CX in a digital-first economy.... More https://worldcxsummit.com/india

Taxation of wealth and inheritance has been tried in India before. These ideas should not be resurrected There is a great populist urge in India — to take from the rich and give to the poor. This is the path to sustained poverty and economic failure. Two specific mechanisms that are being discussed — wealth tax and inheritance tax — are well known in the field of public finance. All over the world, there is analytical clarity on their lack of usefulness. They have been tried in India. They…

ICICI Bank faced a recent technical glitch that exposed the credit card details of thousands of its customers Executive director Sandeep Batra said while instances of outages and errors could occur in any bank, ICICI Bank had the ability to take quick recovery and corrective action ICICI Bank Ltd's improved performance in the March quarter was underscored by a metric that’s becoming crucial to the stability of lenders in the modern era, particularly in the context of the regulatory crackdown o…

Saudi utility firm ACWA Power has expressed interest in investing $10 billion in Malaysia over the next 10 years to develop renewable energy projects.  According to a report by the Malaysian National News Agency Bernama, ACWA Power will collaborate with Cypark Resources Bhd on the developments.....

The Saudi documentary film "Horizon" has won the prestigious Platinum Hermes International Creative Award for 2024 in the Strategic Campaigns Category. The film faced tough competition from several other renowned international works. Produced by the Konoz Initiative, one of the initiatives of the Government Communication Center of the Ministry of Media in collaboration with the National Centre for Wildlife (NCW), the film showcases a diverse range of wildlife, including the dugong (sea cow), dol…

His Royal Highness Prince Dr. Faisal bin Mishaal bin Saud bin Abdulaziz, Prince of Qassim Region, conducted a field visit to the Sukhaybarat Mine in the Uqlat Al-Suqur Province. This visit is part of his continuous efforts to promote sustainable development in the region and strengthen the mining sector as a core component of the local economy. Upon his arrival, HRH the Prince was welcomed by Ma'aden CEO Bob Wilt, along with several company officials, where he explored the mining operations and …

Following the successful inaugural edition in 2023, this year's event is scheduled for June 4 and 5, 2024, at the French Ministry of the Economy, Finance, and Industrial and Digital Sovereignty in Paris. Business France, the national agency supporting to the international development of the French economy, has announced the second edition of Vision Golfe, an annual event that fosters trade cooperation between France and the Gulf Cooperation Council (GCC) countries. Following the successful inau…

The gross assets of UAE banks rose 12% year-on-year to touch $1.1 trillion (AED 4.2 trillion) in February, the Central Bank of the UAE (CBUAE) said in a statement on Monday.   UAE banks' gross assets The total assets in February are compared to $1.02 trillion (AED 3.7 trillion) for the same period a year ago. On a monthly basis, UAE banks' total assets grew by 2.2%, the CBUAE added.....

4 - 6 JUNE 2024Dubai World Trade Centre A global meeting hub of Hospitality and F&B industry in Dubai, a gateway to discover the latest trends, connect with industry experts, and explore cutting-edge solutions that drive success in this dynamic sector. An platform for renowned brands worldwide to engage with top tiering brands and suppliers in the region offering the best in F&B, hospitality technology and other services..... More https://www.thehotelshow.com/

- DIFC records highest gross written premiums in its 20-year history at close to USD 2.6bn in 2023, up 23 per cent from USD 2.1bn in 2022. - Premium brokered in DIFC crossed USD 2bn in 2023, up 61 per cent from USD 1.2bn in 2022. - 20-year record high consolidates DIFC’s position as principal global insurance and reinsurance hub. - Centre marks 20 per cent year-on-year registration growth in insurance and reinsurance firms establishing in DIFC.  - Demand drives significant Managing General Ag…

In line with its standing commitment to uphold the highest standards of asset sustainability, enhance customers’ happiness, and foster well-being, Dubai’s Roads and Transport Authority (RTA) carried out extensive sidewalk maintenance works across the emirate. The project, which is undertaken under the Preventive Maintenance Plan 2023, spanned more than 80,000 square metres, encompassing residential, tourist, commercial, economic, and coastal areas all over Dubai.  The maintenance works unde…

As Cambodia’s tourism sector is recovering with a significant surge in foreign tourist arrivals, several airlines have expanded their networks and enhanced connectivity to the Kingdom. On May 1, Emirates Airlines will start flying between Dubai and Phnom Penh. The airline said the new route will create more opportunities for travellers to explore diverse and culturally rich destinations..... More https://bit.ly/3UjMJUe Via khmertimeskh.com

Qatar’s LNG production capacity expansions are being driven by a stronger global LNG demand growth outlook, stated Fitch Solutions in its latest report. Recently, QatarEnergy announced the addition of the greenfield North Field West (NFW) LNG project, which is estimated to have a 16 mtpa LNG production capacity, which comes as an addition to the North Field East (NFE) and North Field South (NFS) projects that are currently underway....

Vietnam accommodated more than 6.2 million international visitors in the first four months of this year, up 68.3% year on year and 3.9% compared to the same period in 2019 before the COVID-19 pandemic broke out, the General Statistics Office (GSO) announced on April 29. In April alone, the country welcomed nearly 1.6 million foreign visitors, an increase of 58.2% over the same period last year. VNA Photo: Thanh Tùng...

Casinos in Cambodia brace for competition from across the border as Thailand moves ahead with a plan to legalise its casino industry after the country’s Parliament approved the proposal with a huge majority recently. The Thai move is aimed at boosting tourism in the country, especially by attracting affluent tourists. The plan, however, could affect the businesses of casinos in Cambodia that cater exclusively to foreigners. Cambodian law bars locals from playing in its casinos.... More https:…

The United States will be soon programming specific funding allocations for the "Creating Helpful Incentives to Produce Semiconductors" or CHIPS Act for the Philippines with the ongoing study of the Organization for Economic Cooperation and Development (OECD), visiting US Department of State Assistant Secretary Ramin Toloui said. Toloui is on a two-day visit in Manila, his fourth stop in his official trip to Asia, to deepen US economic ties with Japan, the Philippines, Singapore, South Korea, an…

Thai Foreign Minister Parnpree Bahiddha-Nukara abruptly resigned in apparent displeasure over a cabinet reshuffle which stripped him of his deputy prime minister portfolio. Thailand’s Prime Minister Srettha Thavisin said he has selected a new foreign minister after Mr Parnpree Bahiddha-Nukara abruptly resigned from his position in apparent displeasure over a Cabinet reshuffle.....

The US chain’s owner, QSR brands, said in a statement that the decision was a response to “challenging economic conditions” and that affected employees had been offered the opportunity to relocate to busier stores.  More than 100 outlets of fast-food company Kentucky Fried Chicken (KFC) in Malaysia have been “temporarily closed” amid a months-long economic boycott linked to the conflict in Gaza.....

The country’s next leader promises to achieve annual growth of 7 to 8 per cent, while pushing for developed status by 2045 With Indonesia’s Constitutional Court rejecting challenges from the two losing candidates at the Feb 14 election, the path is finally clear for president-elect Prabowo Subianto and his deputy Gibran Rakabuming Raka to begin the long process of forming a new government. This new administration, which will take office in October this year, will have many pressing tasks to…

A Temasek-backed company, PsiQuantum, is receiving a major funding boost of A$940 million (S$836 million) from the Australian government as it competes to build the world’s first commercially useful quantum computer. The firm will establish its regional headquarters near Brisbane Airport, Queensland, where it plans to build the world’s first utility-scale quantum computer, it announced on April 29......

Malaysia Aviation Group (MAG) takes a significant step forward today with the official launch of its new MAB Academy campus and the groundbreaking of its Flight Simulator Building at the South Support Zone, Sepang. This landmark event underscores MAG’s unwavering commitment to advancing aviation excellence and shaping the future of the industry through its training arm, MAB Academy.  The ceremony was marked by the groundbreaking ceremony of the MAB Academy’s state of-the-art flight simulato…

As Cambodia’s tourism sector is recovering with a significant surge in foreign tourist arrivals, several airlines have expanded their networks and enhanced connectivity to the Kingdom. On May 1, Emirates Airlines will start flying between Dubai and Phnom Penh. The airline said the new route will create more opportunities for travellers to explore diverse and culturally rich destinations..... More https://bit.ly/3UjMJUe Via khmertimeskh.com

The northern province of Thai Binh always accompanies and creates the best conditions for enterprises, including those from the Netherlands to invest in and run long-term and effective business in the locality, Secretary of the provincial Party Committee Ngo Dong Hai has affirmed.At an investment and trade promotion conference held by the province's delegation in Leeuwawarden city, Friesland province on April 25, Hai highlighted that Thai Binh, boasting sound investment climate with various in…