“Western countries feel that they have influenced this world for the last 200 years. How do you expect someone, who has been in that position, to give up those old habits so easily?” said Jaishankar. External Affairs Minister S Jaishankar slammed the western media for its ‘negative coverage’ of the Lok Sabha elections 2024. He said that they want to influence India because that’s their habit and that’s something they have been doing for years.....

Before the covid-19 pandemic, India’s real estate business was in a slump. Many developers defaulted and quit the market. Larger developers, meanwhile, gained share. Godrej Properties, whose shares shot up 239% in the last five years, was among them. Here’s the inside story. Sometime before the initial public offering (IPO) of Godrej Properties Ltd, in 2009, Pirojsha Godrej, who was then its executive director, met up with the executives of a prominent Mumbai-based investment banking firm. …

In April, India’s domestic passenger vehicle sales saw a marginal 1.3% year-on-year increase to 3,35,629 units, with the utility vehicle segment experiencing significant growth of over 21% y-o-y to 1,79,329 units Total passenger vehicles (PVs) sales in the domestic market grew marginally by 1.3 per cent year-on-year (y-o-y) in April to 3,35,629 units as compared with 3,31,278 units in the corresponding month last year, the Society of Indian Automobile Manufacturers (SIAM) reported on Tuesday..…

Cambodia Angkor Air, the national flag carrier of Cambodia, announced on Tuesday the launch of the first-ever direct flight services between Cambodia and India, commencing on June 16. These flights will operate four times weekly – Monday, Wednesday, Friday, and Sunday, connecting Phnom Penh and New Delhi..... More https://bit.ly/3wrvTej Via khmertimeskh.com

Ethiopian Cargo & Logistics Services in the latest expansion move, has added two new freighter destinations in India including Ahmedabad in Gujarat. Hyderabad and Ahmedabad are added to Ethiopian Cargo’s freighter network from May 11, said Ethiopian Cargo & Logistics Services in a LinkedIn post on May 10. ....Cont

As of the end of March 2024, the Reserve Bank of India held a total of 822 metric tonnes of gold, with 408 metric tonnes held within the country India's gold reserve, held domestically, surged by 40 per cent between March 2019 and March 2024, latest data released by the Reserve Bank of India showed. Total gold reserves saw an uptick of 34 per cent during the same period..... More https://bit.ly/4dGz3eY Via business-standard.com

The consortium is keen to buy 74-76 per cent of Haldiram Snacks Food, valuing the business at $8-8.5 billion (Rs 66,400-70,500 crore). A consortium led by Blackstone, along with Abu Dhabi Investment Authority (ADIA) and GIC of Singapore have reportedly submitted a non-binding bid to acquire a controlling stake in Haldiram Snacks Food last week. Haldiram is India’s largest snack and convenience food company and if the deal goes through, it would be the largest equity buyout in India......

In a 15 April letter, Cognizant Technology Solutions Corp. asked those who have not returned despite warnings to refer to earlier communications from business leaders on in-office expectations For Cognizant workers refusing to return to office, the axe may be about to fall. The Nasdaq-listed company has warned defiant employees that they may be fired for not turning up, becoming the first large IT firm to invoke termination to repopulate office spaces. In a letter to employees in mid-April, Cog…

For a land-starved city, redevelopment is the only way for builders to get their hands on prime real estate in the financial capital Last week, Raymond Ltd honcho Gautam Singhania pointed out that Mumbai was built 60-80 years ago, and a large part of the city was slum, adding that redevelopment projects presented a $2-trillion opportunity. This is an opportunity that developers are not letting go, as for a land-starved city, redevelopment is the only way for builders to get their hands on prime …

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…

National Bank of Kuwait (NBK) has entered into a strategic partnership with DHL, a prominent global logistics company, to use the “DHL GoGreen Plus” service, strengthening its leading position as Kuwait’s first bank to participate in this global initiative. The collaboration underscores the Bank’s commitment to advancing sustainability efforts into the business, culture, and operations, thereby facilitating the shift towards a sustainable, low-carbon economy. This strongly aligns with N…

"There are constantly new obstacles that no one can prepare you for, and it is 100% the responsibility of the CEO to constantly mitigate challenges, risks, and ensure sustainability and continuity." For Emon Shakoor, founder and CEO of Blossom Accelerator, Saudi Arabia's first tech-inclusion accelerator and ecosystem builder, the most rewarding aspect of entrepreneurship is that one is no longer waiting for change to come. "You create that change every day," she says. "It is also about being ab…

From transcending the physics of architecture to fusing conservation into memorable entertainment, here are four new luxurious properties in MENA opening in 2024, as featured in Forbes’ 2024 Most Anticipated Hotel Openings.   The St. Regis Red Sea Resort Country: Saudi Arabia   In January 2024, St. Regis Hotels & Resorts unveiled The St. Regis Red Sea Resort, marking the kingdom’s first private island resort in the Red Sea. Situated on Ummahat Islands within the Al Wajh Lagoon, the reso…

Qatar will venture into France’s tech industry as a major investment body announced its intent to anchor a financial commitment in Ardian Semiconductor.   This move marks the Qatar Investment Authority’s participation in a pioneering thematic fund designed to enhance the semiconductor industry in Europe. It highlights its role as a preferred financial partner in key technology subsectors, including supply chain developments..... 

Tihama area of Al-Baha region is bursting with over 1,200 tons of mangoes grown on 127 farms. These mangoes are famous for their sweetness and are said to be packed with health-enhancing elements.These tropical treats come in a variety of colors; some are round, others are oval. A team from the Saudi Press Agency recently visited farms in the Nawan Center of Al-Mikhwah Governorate. There, they met farmer Muhammad bin Ahmed Al-Daheri, who has been cultivating mangoes for some 12 years. Al-Daheri'…

The Municipality of Makkah is pulling out all the stops in preparation for the 1445 Hajj season. A comprehensive plan has been meticulously crafted to ensure the well-being and comfort of millions of pilgrims expected to arrive in the Kingdom. The municipality has mobilized 22,000 individuals that include administrators, engineers, technicians, sanitation workers, and support teams from various sectors. Hundreds of security personnel, volunteers, and temporary health givers will also be deployed…

- First SAF uplift for Emirates in the UK under London Heathrow SAF Incentive Scheme - Purchase agreement with Shell Aviation largest ever for airline Emirates has taken delivery of sustainable aviation fuel (SAF) from Shell Aviation at London Heathrow Airport.  Over 3,000 metric tonnes of neat SAF, blended with conventional jet fuel, will be supplied into the fuelling infrastructure network of the airport* until the end of summer 2024.  This is the first time the airline will be using SAF t…

- Total number of wealth and asset management firms surpasses 370 in the first quarter of 2024.  - Influx of new firms including State Street Global Advisors. "Dubai continues to be a leading global destination for wealth and asset management firms, with over 370 now operating within DIFC. Large pools of wealth embedded in sovereign funds, family offices, and via ultra-high net worth individuals, coupled with the stability and success of DIFC’s 20-year track record, continue to draw in the wo…

Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has announced details of several notable achievements during the first quarter of 2024. The chamber’s continuing strong performance reflects the positive impact of its drive to advance Dubai’s economic development, enhance the emirate’s competitiveness, support the private sector, and achieve the ambitions of the Dubai Economic Agenda (D33). A total of 19,056 new companies joined as members…

DP World has formed a partnership with freight mobility company Einride to electrify inter-terminal container flows at Jebel Ali Port, improving efficiency and sustainability at the 10th busiest port in the world. This will be the largest deployment of electric, autonomous freight mobility in the Middle East, operating 24/7 to reshape the landscape of transport in the region.Starting at the end of 2024, the partnership will quickly scale up to support approximately 1,600 container movements dail…

A business roundtable between Ho Chi Minh City and New South Wales state was held in Sydney on May 14, attracting representatives of over 150 Australian enterprises and investors. Chairman of the HCM City People’s Committee Phan Van Mai introduced the potential and advantages of the southern largest economic hub of Vietnam, along with cooperation opportunities for Australian enterprises.....

The Intellectual Property Office of the Philippines (IPOPHL) and the French Patent and Trademarks Office (INPI) have formalized their commitment to carry out their cooperation agreement after recently signing a joint work plan that outlines capacity-building and information exchange activities aimed for completion by 2025.  IPOPHL Director General Rowel S. Barba and INPI Chief Executive Officer Pascal Faure signed the work plan last April 25 at the sidelines of the ASEAN Working Group on IP Coo…

The issue has been in the spotlight since last month when Bloomberg reported that Malaysia was in early discussions with tycoons on opening a casino in Johor’s Forest City. Malaysian Prime Minister Anwar Ibrahim has said no to a second casino in the country, his latest denial on the matter following recent reports that the government was allegedly mulling over one. "Affirmative no," Mr Anwar said at the Qatar Economic Forum on Tuesday (May 14), when asked if his administration would allow a se…

The Temasek-backed data centre operator has tied up with Vietnam’s tech unicorn VNG to expand data centre projects in the country Singapore-headquartered ST Telemedia Global Data Centres (STT GDC) has joined hands with Vietnam’s tech firm VNG Corp to develop, construct and operate data centre projects in Ho Chi Minh City.   Under the joint-venture partnership announced on Wednesday (May 15), a new facility named STT VNG Ho Chi Minh City 2 will be established in the southern metropolis of Ho…

The eight Singapore depository receipts (SDRs) linked to Thailand’s blue-chip companies have not been doing as well as hoped, but analysts say things may change with positive signs on the economic front. The Thai market is “at an inflection point after underperforming in 2023 and so far in 2024”, said Mr Thilan Wickramasinghe, head of research (Singapore) at Maybank Securities. ....

Cambodia Angkor Air, the national flag carrier of Cambodia, announced on Tuesday the launch of the first-ever direct flight services between Cambodia and India, commencing on June 16. These flights will operate four times weekly – Monday, Wednesday, Friday, and Sunday, connecting Phnom Penh and New Delhi..... More https://bit.ly/3wrvTej Via khmertimeskh.com

Vietnam’s industrial real estate industry is expected to continue its strong growth trajectory due to foreign direct investment (FDI) inflows benefiting from tax incentives. According to the General Statistics Office (GSO), the total FDI disbursed in Vietnam in the first four months of this year reached an estimated 6.28 billion USD, up 7.4 per cent year on year, the highest four-month amount in the past five years.....

The Department of Transportation (DOTr) will start next year the bidding process for a private partner for the ferry system that will traverse Manila Bay, Pasig River, Marikina River and Laguna de Bay. Transport Assistant Secretary Leonel de Velez said the government intends to bid out in 2025 the development of the ferry system being eyed as a public-private partnership (PPP) project.....

The property market is on the road to recovery and will see a further improvement this year on the back of an improved economic outlook, says Housing and Local Government Minister Nga Kor Ming. Citing a report from The Star, Nga also said the rising number of expatriates entering the country will be a boost for the property market outlook.....

Prime Minister Srettha Thavisin’s May 7 announcement of plans to put cannabis back on the narcotics list has faced opposition from businesses and even members of his ruling government, though some welcome the prospect of safeguards against foreign players. A need to regulate the cannabis sector against an influx of foreign investors and a desire to score with conservative voters are reasons fuelling the Thai government’s plans to U-turn against its decriminalisation of the drug, say observer…