In recent years, India has become one of the handful of countries and regions where Apple has established new revenue benchmarks. After more than 15 years since the unveiling of the first iPhone, the device remains as the most coveted brand in personal technology in India. Apple has once again called India an exciting market for the company as it recorded yet another stellar quarter in the country. Without revealing numbers,...

UAE’s FAB meets RBI; BofA to run deal for Japanese lender; no local investor approached Within days of State Bank of India putting its 25 per cent stake in Yes Bank on the block, interest is visible from West Asia and Japan.....

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…

20-22 May 2024 ADNEC Center Abu Dhabi EVIS - Electric Vehicle Innovation Summit is a dynamic gathering that has successfully hosted two editions, featuring a comprehensive conference, an innovative exhibition, a platform for recognizing student innovators, a tech park, a test drive area, and, starting in 2024, an OEM (Original Equipment Manufacturer) exhibition area. Focused on driving innovation, collaboration, and growth within the electric vehicle industry and e-mobility sectors, our upcomi…

Personalized supplements based on blood test data are set to become available in key Saudi cities as Bioniq brings its patented algorithm to the Kingdom.  Through a partnership with Al Borg Diagnostics, a provider of diagnostic health services in Saudi Arabia, Bioniq has set a strategic expansion plan into the Kingdom.....

Lieutenant General Sulaiman bin Abdulaziz Al-Yahya, Director General of Passports (Jawazat), has visited NEOM – the sustainable development taking shape in northwest Saudi Arabia – this week. Received by NEOM CEO, Nadhmi Al-Nasr, Al-Yahya and his delegation toured NEOM Bay Airport, along with the project’s command-and-control center and other key NEOM facilities. Al-Yahya began his visit by taking in the expanded NEOM Bay Airport, where he was briefed on its latest technologies and initiat…

Husein Salem, CEO of luxury real estate company, Ohana Development, has a vision that blends ultra-luxury living with attainability in some of the UAE’s most coveted locations. With a legacy spanning three decades and projects spread across three continents, Abu Dhabi-based Ohana Development has earned a reputation as a revered brand on the luxury real estate scene. Known for its state-of-the-art projects and customized approach, the luxury real estate developer is taking luxury living to new…

TECOM Group PJSC (DFM: TECOM), (the “Company” or the “Group”), the creator of specialised business districts and vibrant communities, today announced achieving a 15% year-on year (YoY) increase in net profit for the three month period ended 31 March 2024 (“Q1”). Following record financial performance in 2023, TECOM Group continued to deliver strong financial performance in Q1 2024 driven by robust demand across the business from new and existing customers, underpinned by Dubai’s ro…

Dubai Customs has been honored with two prestigious awards from the Global Good Governance (3G) Awards, recognizing its outstanding performance in governance. The Global Good Governance Advocacy & Commitment to Corporate Governance Award 2024 and the Global Good Governance Excellence Award in CSR Activities 2024, presented annually by the "Cambridge IFA", highlight Dubai Customs' excellence in corporate social responsibility initiatives and commitment to corporate governance. The department unde…

“Over the last twenty years, the DIFC has matured and developed into the leading global financial centre in the MEASA region. At the heart of this success is the adoption of common law in DIFC. In particular, DIFC laws are supplemented with reference to English Common Law and interpreted in accordance with both English common law and the laws of other established common law jurisdictions. The proposed amendments do not seek to change this approach but rather provide statutory confirmation, for…

- DMCC reports new companies from South Korea grew by over 20% over the last 12 months - DMCC witnessed increased levels of business interest from South Korea following successful 2023 roadshows in the country and key strategic partnerships with KISED, KBIPA and Seongnam City - DMCC returned to Seoul this week to deepen bilateral trade and investment ties between Seoul and Dubai in sectors like tech, gaming, AI and Web3 - DMCC is home to 94 Korean businesses, representing roughly half of the Kor…

Dubai's Roads and Transport Authority (RTA) is set to inaugurate on (Friday 3rd May) the new Stadium Bus Station, which is located at the Al Qusais Area besides the Stadium Metro Station, which boasts a strategic location that witnesses a growing demand for bus service. This Bus Station is designed to shorten travel times and provide seamless connections to other mass transit options, making it an optimal choice for commuters in the emirate. Buses on routes 19, F22, F23A, F23, F23, F24, and W20 …

UAE’s FAB meets RBI; BofA to run deal for Japanese lender; no local investor approached Within days of State Bank of India putting its 25 per cent stake in Yes Bank on the block, interest is visible from West Asia and Japan.....

Indonesian furniture exporters are setting their sights on capturing 1 percent of the market share, following a significant decline in exports last year. Global furniture sales are estimated to have reached $729 billion last year, with a projected increase to $766 billion this year.....

Damage from online fraud tallied 110 million baht per day in April, down 26% from 149 million baht per day in March, thanks to concerted efforts by authorities to crack down. Prime Minister Srettha Thavisin on April 1 assigned related organisations to provide concrete results of a crackdown on rampant online fraud within 30 days.... https://www.bangkokpost.com/business/general/2786014/online-fraud-crackdown-making-headway.

Prime Minister Hun Manet expressed his intention to transform Cambodia into a country that exports raw materials and has the capacity to produce semi-finished and finished products to supply domestic and export markets, thereby enhancing people’s livelihoods. He made this statement on Thursday (May. 2) during an inauguration of the Toyota assembly plant in the Royal Group Phnom Penh Special Economic Zone.... More https://bit.ly/3JIN8KT Via khmertimeskh.com

  Exporting creative goods generates billions of dollars for Vietnam each year, but understanding of this economy is still in its very preliminary stages.   A recently launched report conducted by the Central Institute for Economic Management (CIEM) and in collaboration with the German International Cooperation Organization (GIZ) has highlighted some of the strengths, weaknesses, opportunities, and challenges for creative economic development in Vietnam.....

PHILIPPINE MANUFACTURING activity in April expanded at its fastest pace in five months amid an increase in output and new orders, S&P Global said on Thursday. The S&P Global Philippines Manufacturing Purchasing Managers’ Index (PMI) rose to 52.2 in April from 50.9 in March, marking the strongest improvement in five months or since the 52.7 reading in November 2023. A PMI reading above 50 means improved operating conditions from the previous month, while a reading below 50 shows deterioratio…

Tech giant Microsoft will invest RM10.5 billion (S$3 billion) in cloud and artificial intelligence (AI) infrastructure in Malaysia over the next four years in accelerating the country’s digital transformation. The announcement was made by Microsoft chairman and chief executive Satya Nadella, during the AI National Leadership Forum in Putrajaya on Thursday (May 2).....

As quantum computing moves out of university physics department labs and into industrial R&D facilities, a Singaporean startup is building quantum-safe cryptography to protect organisations against future cyberattacks.    The past two decades have seen quantum computing progress from a largely theoretical concept to a technology that may soon be commercially viable. Quantum computers will be able to leverage the principles of quantum mechanics to handle massive volumes of data and perform co…

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.....