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India
The move by the company, valued at $33 billion, may provide a huge tax gain for the Indian govt Walmart-owned e-commerce firm Flipkart is reportedly planning to move its domicile back from Singapore to India, according to industry sources. The company, valued at $33 billion, may provide a significant tax gain for the Indian government, according to a report by The Economic Times (ET). Flipkart Pvt Ltd is a holding company based in Singapore..... More https://bit.ly/4dBbtQE Via business-standa…
India aims to make Chabahar Port a transit hub under the International North-South Transport Corridor (INSTC) to reach out to CIS (Commonwealth of Independent States) countries. India will reportedly sign an agreement with Iran to manage the strategic Chabahar Port for the next 10 years. This is the first time India will take over the management of an overseas port. A pact regarding the port was earlier signed in 2016 when Prime Minister Narendra Modi visited Iran....
In an interview, Saugata Gupta, MD & CEO, Marico Ltd, says that for companies in mass categories, direct distribution will be a source of long-term competitive advantage. Parachute oil maker Marico reported a 3% rise in the March quarter volumes in its India business, while revenue from operations increased 2% year-on-year. Mint spoke to Saugata Gupta, MD & CEO, Marico Ltd, on the company’s plans to improve top-line in the coming quarters—after successive price cuts in its Saffola edible o…
The Mukesh Ambani-owned retailer is looking for a player with a pan-India presence, sources said Reliance Retail Ventures is planning a determined push into the $150 billion diagnostic healthcare segment with the acquisition of a majority stake in a pure-play diagnostic services company, with a cheque size in the range of ₹1000-3000 crore, sources said....
AirAsia welcomed (03.05.24) its inaugural flight from Ahmedabad, India's first UNESCO World Heritage City, further enhancing its India-Malaysia air connectivity. This new route, operating four times weekly, allows travellers to easily explore Ahmedabad's rich cultural heritage and Kuala Lumpur's vibrant city life at affordable prices. Guests onboard today's inaugural flight (AK90) with a 100% load factor received a warm welcome from Deputy Director South Asia Unit of Tourism Malaysia, En. Solehu…
Addressing a gathering here at the launch of the Arbitration Bar of India, Jaishankar also said the requirement to harmonise, mediate and settle differences and disputes will be even more In the last few decades, the global order has witnessed a "re-balancing" that is shaping its new directions, External Affairs Minister S Jaishankar said on Saturday. Addressing a gathering here at the launch of the Arbitration Bar of India, Jaishankar also said the requirement to harmonise, mediate and settle d…
The three utilities can be downloaded from the e-filing ITR portal in the 'Downloads' section. Each utility includes fillable tabs to create an updated file for uploading. The Income Tax Department has released offline, online, and Excel utilities for ITR-3 for taxpayers for FY 2023-24 (AY 2024-25). To file the returns this year, individuals who need to file ITR-3 can now use one of utilities -- offline (Java), online or Excel-based......
State-owned Khanij Bidesh India Ltd is reportedly in talks for two lithium and three cobalt blocks in Australia India is stepping on the gas to secure lithium blocks in Australia as it aims to finalise a deal “likely within this fiscal year” through state-owned Khanij Bidesh India Ltd (KABIL). Government officials are reportedly pushing KABIL to accelerate the process and secure “at least one more acquisition” for the critical resource before the fiscal ends....
The Food Safety and Standards Authority of India (FSSAI), which has 237 testing labs, has collected over 1,500 spice samples from around the country The government will not hesitate to cancel licences of spice manufacturers if they are found to be flouting the norms for permissible limits for pesticide residue in packed products, a top official told Business Standard on Friday. The Food Safety and Standards Authority of India (FSSAI), which has 237 testing labs, has collected over 1,500 spi…
Hunting for smallcaps with robust earnings? These 30 firms posted over 100% jump in Q4 profits Multi Commodity Exchange of India, Mahindra Logistics and Dolat Agrotech posted a 1,512%, 1,467% and 1,048% rise in net profit in Q4FY24. Earnings have a significant impact on stock prices, especially in the small-cap segment, where valuations have become stretched amid a recent market rally. In the BSE Smallcap index, at least 30 companies have reported more than 100% growth in their net profits for t…
Middle East
Many people aspire to create wealth, but for the ultra-wealthy, just as important is enhancing and safeguarding their substantial financial assets. This is where the expertise of wealth managers becomes invaluable. Kuwait-headquartered NBK Wealth—part of the larger NBK Group, a banking group with a market cap of $23.4 billion as of April 2024—has been growing fast since launching a new strategy in 2021. NBK Wealth today combines NBK Group’s private banking business and asset managemen…
The digital economy ties between Saudi Arabia and the UK are poised to advance following the official visit of the Kingdom’s delegation to London. The Governor of the Digital Government Authority, Ahmed Al-Suwaiyan, engaged with leaders and officials from the UK’s public and private sectors, focusing on strengthening cooperation between nations in the digital economy and learning from shared global experiences....
Saudi Arabia’s palm and dates sector is experiencing significant growth, with exports increasing by 13.7 percent in the first quarter of 2024 compared to the same period last year. This food division is regarded as a significant contributor to diversifying income sources and boosting the gross domestic product, as the Kingdom has ambitions to establish its dates as the premier choice globally......
Thuwal Private Retreat, Shebara and Desert Rock, are set to become the first resorts in the Kingdom to leverage Oracle’s cutting-edge cloud hospitality Red Sea Global (RSG), the developer behind regenerative tourism destinations The Red Sea and Amaala, has teamed up with global tech giant Oracle to introduce its hospitality technology solutions, including OPERA Cloud Central Hospitality platform, into the Kingdom for the first time. RSG’s premier luxury resorts – Thuwal Private Retreat, Sh…
UAE-founded real estate developer with global aspirations, DAMAC Properties, has announced brand-new office openings in Beijing and Singapore. With its sights firmly set on global expansion, the office openings signal the brand’s push and significant investment and commitment to APAC. As UAE’s largest private real estate developer with headquarters in Dubai since 1982, DAMAC has grown exponentially to an impressive diverse portfolio, including luxury real estate developments, hospitality exp…
Khalifa Economic Zones Abu Dhabi – KEZAD Group, the largest operator of integrated and purpose-built economic zones, and UAE-based Golden Spike and Wheat today announced the signing of a 50-year land lease agreement for the establishment of a bakery and sweets manufacturing facility in KEZAD.The 26,000 sqm facility in ICAD 3 (KEZAD Musaffah) will have a large production capacity to cater to the requirements of the UAE market.Mohamed Al Khadar Al Ahmed, CEO Khalifa Economic Zones Abu Dhabi – …
Dubai Electricity and Water Authority (DEWA)’s Research and Development (R&D) Centre published 73 Scopus-indexed scientific and research papers in 2023 in several international scientific conferences, peer-reviewed journals, and periodicals. This brings the total of scientific and research papers published by the centre to 221 until the end of last year. These publications contribute to DEWA’s efforts to enrich the local and international scientific community with specialised scientific rese…
14-16 May 2024 DUBAI WORLD TRADE CENTRE A global 3-day conference with over 500 speakers covering the latest trends, market disruptors and technologies shaping the digital commerce world. A free-to-attend multi-brand exhibition hosting over 700 exhibitors showcasing the very latest tech for the digital commerce industry..... More https://bit.ly/3UZjOXb
- Up to 99 per cent accuracy in quantitative detection of bacterial counts - Procedure is supported by an integrated technological system operates by the laboratory, which encompasses 5,000 advanced technologies and devices “The technology is extremely precise and prompt, generating results in 48 hours against the standard 14-day processes.” “Microbiological analysis laboratories carry out more than 100,000 tests per year” Hind Mahmoud Ahmed Dubai Central Laboratory, affiliated with Du…
India aims to make Chabahar Port a transit hub under the International North-South Transport Corridor (INSTC) to reach out to CIS (Commonwealth of Independent States) countries. India will reportedly sign an agreement with Iran to manage the strategic Chabahar Port for the next 10 years. This is the first time India will take over the management of an overseas port. A pact regarding the port was earlier signed in 2016 when Prime Minister Narendra Modi visited Iran....
South East Asia
UAE-founded real estate developer with global aspirations, DAMAC Properties, has announced brand-new office openings in Beijing and Singapore. With its sights firmly set on global expansion, the office openings signal the brand’s push and significant investment and commitment to APAC. As UAE’s largest private real estate developer with headquarters in Dubai since 1982, DAMAC has grown exponentially to an impressive diverse portfolio, including luxury real estate developments, hospitality exp…
The move by the company, valued at $33 billion, may provide a huge tax gain for the Indian govt Walmart-owned e-commerce firm Flipkart is reportedly planning to move its domicile back from Singapore to India, according to industry sources. The company, valued at $33 billion, may provide a significant tax gain for the Indian government, according to a report by The Economic Times (ET). Flipkart Pvt Ltd is a holding company based in Singapore..... More https://bit.ly/4dBbtQE Via business-standa…
A study by the Cambodia Microfinance Association (CMA) and M-CRIL, involving 3,262 households,found that nearly 87 percent of borrowers have one to two loans. Now, at the far end of the study, it was found 2.1 percent of those surveyed had taken as high as four or more loans. When applied to the larger sample size of 3.3 million borrowers in the country – this means 69,300 households taking loans from microfinance institutions (MFIs) are facing a debt problem. Khmer Times takes a look Vannak (…
AirAsia welcomed (03.05.24) its inaugural flight from Ahmedabad, India's first UNESCO World Heritage City, further enhancing its India-Malaysia air connectivity. This new route, operating four times weekly, allows travellers to easily explore Ahmedabad's rich cultural heritage and Kuala Lumpur's vibrant city life at affordable prices. Guests onboard today's inaugural flight (AK90) with a 100% load factor received a warm welcome from Deputy Director South Asia Unit of Tourism Malaysia, En. Solehu…
Farmers in the south and central regions have begun harvesting their winter-spring rice crop, earning large profits because of high yields and prices. On the 30,000 hectares planted in the central province of Quang Binh, the average yield reaches 75 quintals per hectare, a year-on-year increase of 20 quintals per ha. Rice are sold at a high price of 8 - 9 millionVND (314 - 354USD) per ton, giving large profits to local farmers....
The operator of the Clark International Airport (CRK) is exploring renewable energy projects within the airport complex with the power unit of Filinvest Development Corp. Luzon International Premier Airport Development (LIPAD) Corp. president and chief executive officer Noel Manankil said CRK’s master plan includes a space for solar farms. “We are exploring this with Filinvest Power… Because there's about 10 hectares or 15 hectares of open space that's really non-buildable,” Manankil tol…
It’s hard to believe anyone would still fall for the “pay fees to release huge inheritance” scam given the number of times it’s been rolled out but two local business veterans fell for it and lost more than $2 million. One of them had begun dealing with a Singapore scammer by the name of Don Brendan Robert, who had spun a tale about an “inheritance” of over $60 million that would be released after the payment of about $2 million in fees....
The first Ho Chi Minh City International Film Festival 2024 (HIFF 2024) brought an excited atmosphere to roads and streets in the city last month. The event was not only eagerly awaited by many filmmakers and actors, but also created an opportunity for the Vietnamese film industry to get closer to the thinking and filmmaking methods of other cultures.....
Engineers at a data centre. Malaysia has received US$16bil worth of investments for data centres between 2021 and March 2023. DATA centres have been the flavour of our current times with stocks linked to such activities hitting their highs. The unstoppable digitalisation and “Big Data” wave sweeping over the country means data centres will continue to be the overarching hot topic of conversation. More specifically, the debate continues afoot on the pros and cons of setting up so many data ce…
Seeing great opportunity for the country to become the world’s number one in coconut exports, President Marcos has strongly backed the Philippine Coconut Authority’s (PCA) ambitious endeavor to plant 100 million coconut trees, assuring that the PCA will receive the needed resources to execute the program effectively....