Country's 6 leading airports see near doubling of foreign transit traffic in a year Major Indian airports are increasingly becoming global connecting hubs, with international transit traffic for Indian carriers nearly doubling over the past year.  The number of international passengers on Indian carriers passing through six major Indian airports — Delhi, Mumbai, Kolkata, Chennai, Bengaluru, and Hyderabad — to reach their final destinations increased by 97.09 per cent year-on-year (Y-o-Y) to…

The IPO of Awfis Space Solutions includes a fresh share sale of Rs 128 crore and an offer-for-sale of up to 1,22,95,699 equity shares amounting to Rs 490.72 crore. The initial public offering (IPO) of Awfis Space Solutions will open for bidding on Wednesday, May 22. Price band for the issue has been fixed at 364-383 apiece and bids can be made for a minimum of 39 equity shares and its multiples thereafter. The three-day bidding for the issue closes on Monday, May 27 as the Indian stock markets o…

Pichai said Google is committed to bringing AI tools to India in line with global markets, emphasizing that the future of AI will require more involvement from social scientists and philosophers India's potential to shape the future of artificial intelligence (AI) is significant, with the country “well positioned" to influence global AI development, said Sundar Pichai, chief executive of Google and Alphabet, at a roundtable during Google’s annual conference, Google I/O.....

With 13 inclusions and 3 exclusions, the net stock count post-rejig will be 146 for India in the MSCI Standard/EM Index India will see upwards of $2.5 billion in passive FPI flows after a rejig of MSCI indices this month, with the country’s representation in the MSCI EM Index set to inch closer to 19 per cent from 18.3 per cent currently....

“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

- Cargo flows expected to increase by around two million tonnes per annum, boosting trade, economic growth and opportunity in Europe   - Links between the Black, North and Adriatic seas with mainland Europe set to be transformed - Investments mark 20 years of DP World in Romania, with the business predicting it will become an increasingly important hub for European trade DP World opens three major new sites in Romania, providing a significant boost to the country’s growing status as a key hub…

Collaboration to provide DIFC community with access to Cisco Networking Academy courses aimed at accelerating professional development and driving digital transformation in the financial services industry “Mastering networking, cybersecurity, IoT, cloud tech, programming, and automation is crucial in finance. Our collaboration with Cisco’s Networking Academy provides professionals with a diverse skill set, enhancing their ability to navigate the ever-evolving tech landscape in financial serv…

- The Council of Tall Buildings and Urban Habitat (CTBUH) has recognised Uptown Tower for its innovative design, contribution to the advancement of tall buildings, and prioritising of sustainability and wellbeing - CTBUH has awarded DMCC with three industry leading Awards of Excellence – for Best Tall Building by Height (300 and above), Best Tall Building by Region (Middle East) and Construction - CTBUH is one of the leading international bodies in the field of skyscrapers and sustainable urba…

The Dubai Police is continuing its participation for the second consecutive day in the 23rd edition of the Airport Show 2024 at the Dubai World Trade Centre. The Force displays a range of specialized services focusing on security aspects and the official security inspection procedures followed at airports. Brigadier Obaid bin Yarouf Al Ketbi, Acting Deputy Director of the General Department of Organisation Protective Security and Emergency, explored the Dubai Police Stand and reviewed the specia…

Dubai’s Roads and Transport Authority (RTA) has completed 1 km of road widening works at two locations at Al Jaddaf and Business Bay. The first location involved widening Al Khail Road over 600 metres at Al Jaddaf by adding a new lane to increase traffic flow towards Deira. The second location involved widening Al Khail Road at the entrance to Business Bay by adding a new 435-metre lane. These road works are part of several improvements undertaken by the RTA to ease traffic flow and improve th…

Cambodia and the United Arab Emirates (UAE) have vowed to expedite the implementation of a comprehensive economic partnership agreement (CEPA), which will expand markets for goods and services, increase investment and create jobs in both nations. The commitment was made during a May 13 meeting between Cambodian Minister of Foreign Affairs and International Cooperation Sok Chenda Sophea and Obaid Saeed Obaid Bintaresh Ald-haheri, UAE ambassador to Cambodia, who is resident in Bangkok, Thailand...…

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..... 

Cambodia and the United Arab Emirates (UAE) have vowed to expedite the implementation of a comprehensive economic partnership agreement (CEPA), which will expand markets for goods and services, increase investment and create jobs in both nations. The commitment was made during a May 13 meeting between Cambodian Minister of Foreign Affairs and International Cooperation Sok Chenda Sophea and Obaid Saeed Obaid Bintaresh Ald-haheri, UAE ambassador to Cambodia, who is resident in Bangkok, Thailand...…

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.....