Companies are utilising GCCs as a "sandbox environment" to develop PoCs that accelerate their digital journey by leveraging GenAI across relevant domains Multinationals are using their India global capability centres (GCCs) as proof-of-concept (PoC) hubs for generative artificial intelligence (GenAI) applications (apps) due to the availability of digital talent, ability to adapt to technological changes, and build scale..... More https://bit.ly/3UpF9Hv Via business-standard.com

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…

With the introduction of this optimized digital onboarding process for investment portfolios up to EGP5 million, investors can now seamlessly register accounts on EFG Hermes ONE to trade on the Egyptian Stock Exchange. EFG Hermes ONE, the online trading platform of EFG Hermes, one of the MENA's leading investment banks, has become the first financial platform in Egypt to receive approval from the country's Financial Regulatory Authority (FRA) to launch its digital onboarding process.....

The European Union (EU) will provide $1.1 billion (€1 billion) in financial assistance to crisis-hit Lebanon for the 2024-2027 period, European Commission (EC) President Ursula von der Leyen said Thursday.   EU support The EU support will strengthen basic services such as education, social protection, and health for the people of Lebanon, the EC said in a statement after von der Leyen's visit to Beirut, accompanied by Cyprus President Nikos Christodoulides.....

US electric vehicle manufacturer Lucid Group and Saudi Arabia’s King Abdulaziz City for Science and Technology have inked a pact to boost EV technology development within the Kingdom.  As part of the deal, the California-based firm, in which Saudi Arabia’s Public Investment Fund holds a significant stake, will collaborate with KACST on joint research, utilizing the institute’s services, facilities, and products for dedicated research into advanced battery technologies and materials...…

Saudi Arabia’s northwestern city of Hail will be the fifth destination development of Saudi Tourism Investment Co., the firm’s CEO has revealed.   Speaking to Arab News on the sidelines of the Future Hospitality Summit, Fahad bin Mushayt announced the plan, which comes after the activation of the company’s projects in Al-Baha, Yanbu, Al-Ahsa, and Taif.....

- New AIQ ownership structure will see Presight acquire 51% shareholding, with ADNOC retaining 49%, valuing the company at over $1.4 billion - ADNOC to receive a 4% stake in Presight, accelerating leadership of AI solutions and solidifying its position as the most AI-enabled global energy company - AI will drive significant global growth opportunities in energy, unlock efficiency and value across the energy sector, with ADNOC poised to capitalize on the AI revolution  - AIQ to continue as stand…

Now onboard, Emirates is offering First and Business Class customers a new collection of exclusive Bulgari amenity kits for the summer season. With a gradual introduction on select routes and long-haul flights, the new range features colour palettes designed to reflect Emirates’ newly upgraded aircraft cabin interiors, alongside the latest best-selling fragrances from globally recognised luxury Italian brand, Bulgari. As part of Emirates commitment to provide exceptional customer experiences …

09 May 2024 9am-11am Dubai Chambers - Explore the fascinating journeys of successful founders from different fields. - Discover smart strategies to tackle common startup hurdles with ease. - Get inspired by real-life stories of triumph and achievement. - Learn about the importance of mentorship and guidance in business success..... More https://www.dbwc.ae/event/detail_page/1700d

4 - 6 JUNE 2024 Dubai World Trade Centre The global hub for unparalleled Interior design excellence INDEX is the meeting place for all interior design professionals, showcasing thriving innovation, investment, design and growth taking place in the heart of Dubai. For over 30 years, INDEX has evolved into global interior design and fit-out hub for buyers to meet with global brands and suppliers in furniture, flooring, lighting, textiles and more. We have surpassed being a trade exhibition as we a…

- AED 1.1bn commercial tower with a total built-up area of over 115,000 sq. m. embodies DIFC’s vision to increase supply of prime office space. - Designed to meet the needs of the workplace of the future, Immersive Tower by DIFC is scheduled for completion in 2027. “With the ever-growing number of regional and international financial institutions, FinTech and innovation firms establishing in DIFC, we recognise the requirement for Grade A office space catering to workplaces of the future. The…

In a continuing effort to boost its educational and awareness initiatives through electronic games, the Dubai Police is participating in the 2024 Dubai Games and Digital Sports Festival, which kicked off today (Wednesday 1st of May) at the Dubai World Trade Centre. Brigadier Dr. Ahmad Mirdas, Acting Director of the General Department of Training, emphasised that the participation, in collaboration with the General Department of Criminal Investigation, aims to bolster the force's outreach effort…

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.....