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India
Those opposing the ex-ante legislation wanted the deadline for submitting responses, which was May 15, to be extended by two to six months. But the MCA has not agreed New battle lines are being drawn in the world of technology. On one side are the global Big Tech companies: Google, Apple, Meta, and Amazon, who oppose the draft Digital Competition Bill, an ex-ante legislation to control the growing concentration of market power, and supplement the Competition Act..... More https://bit.ly/44RJ9pd…
Multibagger stock: Data Patterns shares stock closed 4.14% higher at Rs 3320.35 on May 19 against the previous close of Rs 3188.50 on BSE. Market cap of the firm climbed to Rs 18,588 crore in the previous session. Shares of Data Patterns are in focus on Tuesday after global brokerage Jefferies assigned a buy call to the multibagger stock post Q4 earnings. The brokerage raised its target price to Rs 4,135, mentioning that earnings before interest, taxes, depreciation, and amortization (EBITDA) in…
The government has conducted inspections at the two companies and recommended corrective measures after tests revealed elevated levels of the cancer-causing chemical in products exported to Singapore and Hong Kong, said officials familiar with the matter. The Indian government has taken action against spice-exporting companies Everest and MDH, conducting inspections and recommending corrective measures after tests revealed elevated levels of ethylene oxide, a cancer-causing chemical, in product…
In an interview with businessline, Finance Minister Nirmala Sitharaman spoke about the way forward for crypto currency Q. Your government has been against the crypto currency as it believes that it is not a stable asset. RBI is on the same page. SEBI is believed to have represented to the panel on crypto regulation that it should have multiple regulators. What is the situation? Even before G20 and since 2020, we had discussions about it in the Finance Ministry. RBI is also having its own view o…
PM Narendra Modi assertion follows assurances by 3 senior ministers Prime Minister Narendra Modi, in a television interview telecast on Sunday, said the stock market would have a strong run once the election results are out. “You see, the day election results come out, and throughout that week, those who punch trades will get tired,” Modi said, responding to a question about whether the markets were displaying nervousness regarding the election outcome after pricing in the return of the incu…
- Rajnish Kumar and Mohandas Pai have decided to snap ties with Byju’s likely on account of it getting embroiled in litigation - The advisory panel comprising Kumar and Pai was constituted in July last year following a series of board exits and mounting financial woes Rajnish Kumar and T.V. Mohandas Pai do not intend to continue on the advisory panel of Byju’s parent company, Think & Learn Pvt. Ltd, after their one-year tenure ends on 30 June, presenting the latest setback to the embattled o…
PSBs will pay dividends aggregating ₹18,013 crore to the government in FY24 against ₹13,804 crore in the preceding financial year The government will get about 30 per cent more dividends from public sector banks (PSBs) in FY24 vis-a-vis FY23 due to handsome payouts declared by them on the back of strong financial performance....
For Tata Motors, Balaji said, We will repeat the Rs 8,000-odd crore range. So, JLR is about 6 per cent increase and Tata Motors is flat. So, that's how the investment is (for FY25) Tata Motors group has raised its investment outlay for FY25 to Rs 43,000 crore for new products and technologies, with its British arm Jaguar Land Rover absorbing the maximum share, according to a senior company official.... More https://bit.ly/3wxTn1o Via business-standard.com
India's EV policy, designed to attract investments in domestic manufacturing, incentivises companies to set up production facilities within the country. Former NITI Aayog CEO Amitabh Kant has clarified India's stance on its electric vehicle (EV) policy, underlining that the country will not tailor its regulations to accommodate specific companies, even Tesla....
Notable IPOs like Winsol Engineers, Refractory Shapes, and TGIF Agribusiness listed at significant premiums on NSE Emerge and BSE SME Exchange Investors in small and medium enterprises’ initial public offerings have seen substantial returns, tripling and quadrupling their investments within 10-15 days, as exchanges plan to tighten norms. Meanwhile, exchanges plan to set a minimum issue size to protect investors and ensure transparency in allotment.......
Middle East
Yara Aldrees, Environmental Planning & Appraisal Manager at Red Sea Global. Nestled along Saudi Arabia’s beautiful coastline and islands lies a remarkable ecosystem of mudflats. Found in shallow waters where the land meets the sea, mudflats are not mere patches of mud but thriving ecosystems, teeming with life. They are home to an array of unique and resilient species, each adapted to the challenging and ever-changing conditions of the intertidal zone. As the tides ebb and flow, the mudflats t…
The first day of the Future Aviation Forum 2024, held under the patronage of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, organized by the General Authority of Civil Aviation (GACA) in Riyadh on May 20-22, witnessed the announcement of 47 memoranda of understanding (MoUs), agreements, and deals worth $19 billion. These included aviation services, aircraft purchase orders, cargo and logistics services, advanced air navigation, human resources development, and informati…
The MoU underscores the airlines’ commitment to collaborate and support Vision 2030 The collaboration will include training in technical, aviation, ground operations, management, language and regulations, as well as executive education and coaching Riyadh Air and Saudia Academy, a subsidiary of Saudia Group, announced a strategic collaboration Memorandum of Understanding (MoU) to enhance aviation training capabilities across the Kingdom. The signing took place at the Future Aviation Forum in R…
Zero emissions during operation contributes significantly to reducing the carbon footprint of maritime activities SAFEEN Group, part of AD Ports Group (ADX: ADPORTS), has announced it is trialling an electric tug within their Marine Services fleet, the first of its kind in the Middle East, which will be deployed at AD Ports Group’s flagship facility, Khalifa Port. Unveiled during the 27th International Tug & Salvage Convention, Exhibition & Awards 2024, Dubai, the Damen RSD-E Tug 2513 is an a…
In an innovative move reflecting the UAE’s commitment to government readiness for the future, the Government Development and the Future Office launched the Executive Framework for Future Institutional Readiness, which aims to future-proof and enhance the resilience of UAE government entities. The launch event saw the participation of over 150 government officials from 91 federal government entities. Her Excellency Ohood Khalfan Al Roumi, Minister of State for Government Development and the …
Celebrating International Tea Day on 21 May, Emirates and their esteemed tea partner of three decades- Dilmah, share expert insights into the art of food and tea pairing onboard, in Emirates Lounges across the world, and at home. Tea pairing is a sensory experience that explores the dynamic between the aromas and flavours found in both tea varieties and food. A well-matched tea can balance and even accentuate the culinary flavours of a dish or can be used to create an interesting contrast on th…
The 115th Premium Vehicle Number Plates Open Auction, held by Dubai’s Roads and Transport Authority (RTA) has raised AED65.588 million, marking a significant 28% increase compared to the previous auction's AED51.216 million. Held at the Hilton Dubai Al Habtoor City, the auction saw plate (AA16) as the highest seller, fetching AED7,320,000. It was followed by plate (AA69) which sold for AED6,000,000, and plate (AA999) which garnered AED4,050,000. RTA offered 90 fancy plates for bidding in this …
Tabuk region, gracing the northern coast of the Red Sea, boasts stunning beaches with pristine coastlines and captivating views. Among these treasures lies Zaem Beach, a jewel north of Al-Wajh that attracts visitors with its unique charm. Zaem Beach unfolds along a picturesque semi-circular bay where gentle waves lap the shore. Tourists flock here to relax under umbrellas and comfortable seating, while children delight in the toys provided. Palm trees and other greenery add a touch of tranquilit…
Aramco, one of the world’s leading integrated energy and chemicals companies, has signed an agreement with Pasqal, a global leader in neutral atom quantum computing, to install the first quantum computer in the Kingdom of Saudi Arabia. The agreement will see Pasqal install, maintain, and operate a 200-qubit quantum computer, which is scheduled for deployment in the second half of 2025. Ahmad Al-Khowaiter, Aramco EVP of Technology & Innovation, said: “Aramco is delighted to partner with Pasq…
Sharjah Airport revealed that the first quarter of 2024 witnessed the arrival of more than 4.2 million passengers and recorded 26,473 flight movements, and transported more than 42 thousand tons of cargo, thereby enhancing its regional position in providing a distinguished travel experience and improving the quality of services for its customers, reflecting positively in the development of tourism and the economy in the Emirate of Sharjah, and promoting its commercial growth. A pioneering role i…
South East Asia
Prime Minister Srettha Thavisin has hosted discussions with leaders from the Italian fashion and technology sectors, tabling plans to enhance bilateral cooperation and promoting investment in Thailand. Srettha engaged with Carlo Capasa, Chairman of the National Chamber of Italian Fashion, a major organization in the development of Italian fashion and the coordination of Milan Fashion Week. During the meeting, the prime minister suggested a joint training program in Italy for young Thai designers…
In response to the growing popularity of digital payments, the National Bank of Cambodia (NBC) has called for all banks, financial and payment service institutions to bolster their capacity for responding to cyberattacks and enhance their customer support mechanisms for resolving digital payment fraud. NBC Governor Chea Serey made the call during the launching ceremony of the Financial Stability Review 2023 on Monday.... More https://bit.ly/4dKWt2H 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....
The government is raising the country’s biofuel blend – more than a decade after it last adjusted the mix rates – to reduce the prices of various fuel products in the market. The Department of Energy (DOE) yesterday issued the necessary guidelines for the implementation of the higher biodiesel blend in diesel and bioethanol mix in gasoline.....
Exports growth driven by higher shipments of machinery, chemicals and palm oil products Malaysia’s exports grew 9.1 per cent year on year (yoy) in April to RM114.7 billion (S$33 billion) after two consecutive months of contraction, said the Department of Statistics Malaysia on Monday (May 20). While the final export figure reversed March’s 0.8 per cent decline, it undershot an earlier forecast of 14.1 per cent by 13 economists in a recent Reuters poll.....
The integrated resort operator posted positive earnings growth for Q1 following tourism boost, mirroring peer Marina Bay Sands PLANS are afoot for new casinos to open in South-east Asia, but analysts say Singapore-listed casino and integrated resort (IR) operator Genting Singapore : G13 0% is unlikely to be badly hit by the increased competition. They note that the group has consistently booked healthy gaming and non-gaming revenue, and that Singapore’s tourism industry has been robust..…
GENTING Group chairman Lim Kok Thay said the conglomerate is open to pursuing the development of integrated casino resorts in the United Arab Emirates, which is looking into legalising gambling. An international tender for a casino-only development in the Middle East region is unlikely, Lim told shareholders at a Genting Singapore annual meeting on Apr 18. Minutes of the meeting were published in a stock exchange filing on Friday (May 17).....
The Public-Private Partnership (PPP) Center currently has 125 projects worth PHP3 trillion in the pipeline, an official said over the weekend. Of the 125 PPP projects, the PHP23.40 billion Tarlac-Pangasinan-La Union Expressway (TPLEX) extension project is in the most advanced stage. The 59.4-kilometer four-lane toll road will start from the last exit of TPLEX in Rosario, La Union and will end in San Juan, La Union."[The projects are] in various stages including those with ongoing procurement, in…
Even remote islands of the archipelago nation will be able to get online Starlink, the satellite internet company that’s a subsidiary of Elon Musk’s SpaceX, is bringing internet access to the 17,000 islands of Indonesia...... More https://bit.ly/3Var2Yw Via qz.com
For new mother Nur Sabrina Muhleseddin, being able to enjoy work-life balance is something she values in a job, as it allows her to be present for her son’s milestones. The 29-year-old digital marketing manager said her priorities have shifted since she gave birth in July last year. She was working in a different company previously, but had sought out a new role four months after becoming a mother.....