One of the wealthiest Indians, Naoroji owns stakes across group companies that will form part of the now bifurcated Godrej Enterprises Group and Godrej Industries Group Reclusive Godrej billionaire Rishad Kaikhushru Naoroji has decided to gift most of his shares in group companies to nephews and nieces, an executive aware of the development said, in a rare instance of corporate India's super-rich leaving his wealth to relatives. Naoroji, 72, is a third-generation member of the Godrej business fa…

Google layoffs: Google has laid off around 200 employees from its core team, and the tech giant will now move some positions to India and Mexico. Alphabet Inc's subsidiary Google sacked around 200 employees from its “core team" and relocated some of the jobs overseas to cut costs as part of a restructuring process. At least 50 roles were eliminated from engineering team based at its headquarters in California....

Maruti Suzuki India's Chairman, RC Bhargava, has revealed plans for the mass production of electric vehicles (EVs) beginning in FY26. The majority of the first batch will be exported to Europe, with the domestic market receiving electric cars from Maruti only after April 2025. In the early stages, Maruti Suzuki intends to export the majority of its first batch of electric vehicles to Europe, delaying significant availability in the Indian market until after April 2025. Discussing market trends, …

GST collection has crossed ₹2 lakh crore for the first time since the introduction of the new tax regime Boosted by a strong increase in domestic demand, collection through Goods & Services Tax (GST) touched an all-time high of ₹2.10 lakh crore in April. This is the first time that collection has crossed ₹2 lakh crore since the introduction of the new tax regime on July 1, 2017.....

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 Public Establishment for Industrial Estates (Madayn) has completed connecting the fibre optic network throughout Al Rusayl Industrial City in cooperation with Omantel. This project marks a significant step towards transforming the industrial city into a smart hub, boosting telecom infrastructure, encouraging industrial progress, and reinforcing sustainability efforts......

Saudi Arabia launched the Arabic Intelligence Center by employing artificial intelligence techniques in Riyadh on Monday.This international center is the first artificial intelligence center specialized in the automatic processing of the Arabic language. The King Salman Global Academy for Arabic Language is operating the center, the first of its kind in the Kingdom to serve the Arabic language, at its headquarters in Riyadh.....  

The “Bajali” almond trees in the Bani Malik villages in Maysan Governorate south of Taif have spread their magic, beauty, and fragrance on the tops of the mountains, where they have begun flowering, filling the mountainous landscape with whiteness, magic, and fragrance.After the end of the winter hibernation period, the Bajali almond trees begin blossoming and occupying the scenery starting at the end of January and lasting through the beginning of March. Their splendid white flowers, turn i…

- First-of-its kind partnership aligns with PIF’s initiatives to drive further growth of the Saudi capital markets ecosystem and international investment management sector  - Leveraging its industry-leading global operating platform and capabilities, BlackRock will launch investment strategies across asset classes for the Saudi market, including both public and private markets, managed by a Riyadh-based investment team - PIF intends to anchor the platform with an investment of up to $5bn, and…

- The ‘KSA Sustainability Champions’ program is a knowledge transfer and partnership initiative that has identified the top performing Saudi companies in corporate sustainability - stc Group joining the program highlights its commitment to developing responsible and sustainable innovative solutions The digital enabler in the region, has reinforced its position as a leader in sustainability by joining the inaugural edition of the ‘KSA Sustainability Champions’ program, launched today by t…

7 – 9 May 2024 ADNEC, Abu Dhabi AIM Congress (Annual Investment Meeting) is an initiative of the AIM Global Foundation, an independent international organization fully committed to empower the world’s economy by boosting effective promotion strategies and facilitating opportunities for economic productivity and expansion.  AIM Congress has established itself as a leading investment platform in the Middle East, which aspires to ignite positive transformation by creating investment opportunit…

20-22 May 2024 Expo Centre Sharjah ExpoCulinaire IS The ONLY dedicated event in UAE for Chefs, Pastry Chefs, Bakers, Cooks, STUDENTS and Professionals from the HoReCa sector. A unique international trade exhibition and education event, now in its 5th year, in collaboration with the Emirates Culinary Guild - This event showcases food, drink, ingredients, equipment, services, skills and education. ExpoCulinaire is the established home of THE EMIRATES INTERNATIONAL Salon Culinaire - now hosting th…

A delegation from Sharjah Chamber of Commerce and Industry (SCCI) has participated in the 20th Mango and Tropical Fruits Festival 2024 in Sabya Governorate, Saudi Arabia. The Chamber was represented by the organizing committee of the Khorfakkan Mango Festival. This marks the first international participation for UAE farmers, joining over 60 farmers from various regions. The move comes as part of the Chamber’s commitment to adopting best practices in organising festivals and boosting its suppor…

- Complete in-country hosting of voice and application infrastructure - AI-driven platform offers comprehensive engagement tools and a 360-degree view of every interaction e& enterprise today announced a partnership with NICE to collaborate on its cutting-edge CX capabilities and Contact Centre as a Service (CCaaS) platform in the UAE. The platform's integrated engageX CX capabilities ensure sensitive customer data remains in-country, while also empowering businesses to comply with regulations a…

- Dubai ranked 1st in MEASA region and among the world’s top 22 cities in terms of wealthiest population centres in 2023 with over 68,500 HNWIs. - His Excellency Abdulla bin Touq Al Marri, Cabinet Member and UAE Minister of Economy, DIFC leadership and leading family businesses convene to mark DIFC Family Wealth Centre 1-year anniversary.  - More than 440 registered foundations and over 600 active entities affiliated with top family businesses and individuals in DIFC as of 2023. - Home to mor…

Prime Minister Hun Manet has announced two significant developments in the Kingdom’s tyre manufacturing sector. He shared the exciting news as he addressed an April 28 celebration, held to observe the 138th anniversary of International Labour Day, due to be marked on May 1.....

In Q1, Vietjet’s air transport revenue was recorded at VNĐ17.76 trillion (US$701 million) while after-tax profit at VNĐ520 billion ($20.5 million), increasing by 38 per cent and 209 per cent year-on-year respectively. Vietjet Aviation Joint Stock Company (HOSE: VJC) reported outstanding business performances in Q1/2024, providing a strong boost for the entire year.....

To hasten the country’s shift to electric vehicles (EVs), President Marcos is targeting a 10 percent share of EVs in government service vehicles, an official of the Department of Energy (DOE) said. According to DOE Undersecretary Felix William Fuentebella, the President has ordered concerned agencies to speed up the implementation of a system that would allow state offices to acquire a significant number of EVs.....

PROPERTY developers and real estate investment trusts (Reits) in the industrial, commercial and hospitality sectors look set to get a boost when the upcoming Special Economic Zone (SEZ) in Johor, Malaysia is set up. Singapore listcos with existing exposure to the Malaysian market, in particular, will stand to gain, said market observers. The Johor-Singapore SEZ, which was formalised in January this year, aims to improve the cross-border flow of goods and people as well as increase investments b…

Singapore’s small and medium-sized enterprises (SMEs) want to go green, but the question is how, amid a dizzying array of certifications and methods, and the lack of technical expertise. And while they are unsure how to begin, it is vital that they start their carbon measuring and reporting, said Singapore Business Federation (SBF) chief executive officer Kok Ping Soon, adding that pressure is increasing on small firms along the supply chain as they contribute to bigger companies’ emissions.…

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.....