The News As You Need
India
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.......
As spiritual tourism rises, hotels and resorts queue up to pay obeisance with properties, aartis, meditation, and more Second-generation entrepreneur Tarun Gulati has never been more excited about being in the hospitality business. His family-run 30-year-old hotel, Ganga Kinare, in Rishikesh, organises morning and evening aartis at its private ghat for the guests, who can also meditate inside centuries-old caves..... More https://bit.ly/3KbO3DK Via business-standard.com
PM wants to ensure robust entrepreneurial ecosystem, says Ajay Piramal; several other business leaders laud Modi’s comments Prime Minister Narendra Modi’s forceful defence of entrepreneurs and wealth creators in his mega exclusive interview with the India Today Group has spurred business leaders across the spectrum, who showered fulsome praise on the Prime Minister for backing those creating wealth and employment in the country....
Before announcing its Q4 results, the company said it has incorporated a wholly owned subsidiary, Delhivery Robotics Pvt Ltd, to conduct research and development in drone technology and manufacturing. Logistics firm Delhivery reported a rise in fourth-quarter revenue on Friday as it clocked strong volumes in segments such as part truckload (PTL) freight, and truckload services.
In the present geopolitical situation, the cargo through Chabahar is likely to be consistent with a growing trend in the future, said the Minister Escalating geo-political tensions in West Asian region are unlikely to impact Indian operations at Chabahar port in Iran. Rather, in the current geo-political situation, the cargo throughput is likely to be consistent, “with a growing trend in future”, the Union Minister for Ports, Shipping and Waterway, Sarbananda Sonowal told businessline....
OpenAI CEO Sam Altman recently credited Pune boy Prafulla Dhariwal for creation of ChatGPT 4o, a new AI model that has become talk of the town since its launch. He wrote on X, formerly known as Twitter, “GPT-4o would not have happened without the vision, talent, conviction, and determination of Prafulla Dhariwal over a long period of time. That (along with the work of many others) led to what I hope will turn out to be a revolution in how we use computers”.....
TCI is looking to expand its overseas operations in the Middle East and add Sri Lanka to its operational map later this year or early next year Logistics and supply chain management company Transport Corporation of India (TCI) plans to acquire two cargo ships worth $35-40 million in the current fiscal to bolster its seaways business.....
Zoho’s co-founder Sridhar Vembu had hinted at creating a semiconductor venture in March Looks like Sridhar Vembu, co-founder and CEO of the Chennai/US based Zoho, is all set to enter the chip making business, with an investment plan of around $700 million (as quoted by Reuters). The company declined to comment on the development, but, an official said it could be a cue from what Vembu had mentioned in Marchx, about his interests in semiconductors.....
Middle East
In a significant step toward safeguarding its marine treasures, Saudi Arabia is launching a groundbreaking project to assess the health of its vital ecosystems in the Arabian Gulf. Led by the National Center for Wildlife (NCW), the project aims to create a comprehensive roadmap for protecting marine biodiversity and ensuring the long-term health of the Gulf waters. NCW CEO Dr. Mohammed Qurban said in a statement that scientists will evaluate the condition of the coral reefs, seagrass meadows, an…
The General Authority of Civil Aviation (GACA) has confirmed that the aviation sector plays a vital role in supporting economic growth in the Kingdom of Saudi Arabia. It achieves the goals of the Kingdom's Vision 2030, according to the statistics included in the first edition of the report on the state of the aviation sector in the Kingdom. The report will be launched during the Future Aviation Forum 2024, which is held under the patronage of the Custodian of the Two Holy Mosques, King Salman bi…
Liminal Custody Solutions, a leading provider of digital asset custody and wallet infrastructure solutions, announced a landmark achievement today, the acquisition of Financial Services Permission (FSP) from the Abu Dhabi Global Market (ADGM) Financial Services Regulatory Authority (FSRA). This prestigious license is a significant milestone in Liminal's journey, solidifying its commitment to regulatory compliance and innovation within the burgeoning digital asset space. Obtaining the FSP positio…
Dubai Customs has been awarded a Business Continuity Certificate according to ISO 22301:2019 standards, owing to its established mechanisms for ongoing institutional resilience enhancement. This endeavor aims to ensure the sustained provision of business operations and services with optimal efficiency, swiftly responding to disruptions during crises and emergencies, thereby minimizing adverse crisis impacts. The department achieves this through comprehensive risk comprehension, priority delineat…
The Board of Directors at TECOM Group PJSC (DFM: TECOM), (the “Company” or the “Group”), the creator of strategic, sector-focused business districts across Dubai and a major contributor to the rapid growth of Dubai’s knowledge and innovation-based economy, has approved a Strategic Acquisition and Development Plan following a board meeting held earlier today. The expansion plan will involve TECOM Group investing AED 966 million to acquire commercial and industrial assets from Dubai Ho…
e& UAE and Multi Level Group (MLG), today announced a landmark partnership to drive innovation in aerial mobility and autonomous systems across the United Arab Emirates. This agreement will see e& UAE combine its world-class 5G network and digital expertise with MLG's leadership through Advanced Mobility Hub (AMH) in eVTOL and drones development as well as integrated solutions. Together, the two organisations aim to transform sectors like air passenger transport, logistics, surveillance, and v…
Dubai Health, the first integrated academic health system in the emirate, has announced the addition of a new cohort of Emirati nurses to its team. This expansion strengthens healthcare delivery across the system and reflects Dubai Health’s commitment to nurturing and promoting local talent within the healthcare sector. The new cohort, all graduates holding a Bachelor of Science in Nursing from the College of Health Sciences at the University of Sharjah, has been strategically placed across f…
Under the directives of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of the Executive Council to transform Dubai into a bicycle-friendly city, which entails creating an environment that encourages people to practice cycling sport, the Roads and Transport Authority (RTA) is set to construct a 13.5 km track tailored for bicycles, scooters, and pedestrians. This new track, which links Al Sufouh to Dubai Hills via Hessa Street, features two architect…
His Excellency Mihai Cătălin Necula, State Secretary of the Ministry of Internal Affairs of Romania, His Excellency Kahinda Otafiire, Minister of Internal Affairs of Uganda, His Excellency Eric Lacayo Rojas, Vice Minister of Public Security of the Republic of Costa Rica, and His Excellency Mario Luiz Sarrubbo, National Public Security Secretary Ministry of justice Brazil, have recently visited the Al Muraqqabat Smart Police Station (SPS), the first police station to earn a 6-star rating, to re…
The Saudi Arabian Oil Company (“Aramco” or “the Company”) today announced the signing of three Memoranda of Understanding (MoUs) with leading American companies to advance the development of potential lower-carbon energy solutions. The MoUs were signed yesterday in the presence of Minister of Energy for the Kingdom of Saudi Arabia, HRH Prince Abdulaziz bin Salman al Saud, and US Secretary of Energy, Jennifer Granholm. The MoUs signed by Aramco include:AerosealFollowing a successful tr…
South East Asia
SEG Solar, a photovoltaic (PV) panel component manufacturer from the United States, is investing over US$ 500 million (Rp 8 trillion) to build a factory in Batang Industrial Park (Grand Batang City), Central Java. The CEO of Grand Batang City, Ngurah Wirawan, said that SEG's presence proves Grand Batang City's allure as a prime investment destination for PV manufacturing industries....
Eye B7.5bn from foreign companiesThe Tourism and Sports Ministry has joined hands with the Culture Ministry to promote Thailand's film locations in a bid to achieve 7.5 billion baht in earnings from foreign film companies choosing toshoot their films in the country this year..... https://www.bangkokpost.com/business/general/2795462/ministries-to-promote-film-spots
Mekong Enterprise Fund IV (MEF IV) is proud to announce its investment of $5 million in HUSK, a pioneering biochar and biofertiliser company committed to regenerative agriculture practices in Southeast Asia. This investment exemplifies MEF IV's dedication to generating both financial returns and meaningful social and environmental impact across the region. Ingrid van Ginkel, General Manager, HUSK Cambodia, states Mekong Capital’s commitment to soil regeneration, carbon sequestration and improv…
Danish jewellery maker Pandora started construction of a $150 million factory in the southern province of Binh Duong province on May 16. The ceremony attended by high-ranking officials from Vietnam's Ministry of Planning and Investment, local authorities, the Danish Embassy, and Danish Minister for Food, Agriculture, and Fisheries Jacob Jensen, who was on a working visit to Vietnam from May 14-16....
THE NATIONAL Economic and Development Authority (NEDA) Board on Wednesday granted tax breaks for electric motorcycles (e-motorcycles), electric bicycles (e-bicycles) and hybrid electric vehicles (EVs), as the government seeks to further promote green transport and cut carbon emissions. The NEDA Board, chaired by President Ferdinand R. Marcos, Jr., on Wednesday approved to expand the coverage of Executive Order (EO) No. 12 which temporarily reduced tariffs on electric vehicles to zero until 202…
Malaysia’s economy expanded faster than initially estimated in the first quarter, driven by private spending and a rebound in exports. Gross domestic product (GDP) quickened 4.2 per cent in the January-March period, said Malaysia’s central bank and statistics department in a joint briefing on May 17. That is higher than the 3.9 per cent advance estimate, as well as the median forecast in a Bloomberg survey. On a quarter-on-quarter basis, the economy grew 1.4 per cent from the previous three …
A stronger Singdollar, pricier goods and services, and the resumption of travel plans post-pandemic have contributed to a growing number of locals preferring to spend more overseas. This has added pressure to Singapore’s soft retail sector.....
The Industrial Estate Authority of Thailand (IEAT) has signed a memorandum of understanding with the Eastern Economic Corridor (EEC) Policy Committee to advance the development of Thailand's first Circular Industrial Estate. This initiative aligns with sustainable and environmentally friendly development principles. The collaboration focuses on efficient resource utilization, promoting recycling, and minimizing waste to achieve sustainability. Veeris Ammarapala, Governor of IEAT, stated that t…
With an impressive growth rate of 5.66% in the first quarter of 2024 amidst global economic challenges, Vietnam’s economy received positive assessments from international experts, becoming one of the most attractive investment destinations in the region. Vietnam is an attractive destination for foreign direct investment (FDI) amid global economic fluctuations and increasing political instability, Paulo Medas, head of the International Monetary Fund (IMF) team to Vietnam, said in an interview w…
Increased trade and financial cooperation envisaged under 'strategic partnership’ between Phnom Penh and Seoul. Cambodia will consider setting up a special economic zone (SEZ) for South Korean investors with a focus on small and medium-sized companies and high-tech industries....