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India
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.......
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....
Middle East
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…
Y.K. Almoayyed & Sons (YKA) have signed a memorandum of understanding with Bahrain Polytechnic to explore venues of support and cooperation between the two establishments in order to create an advanced educational environment that contributes to enabling the youth to develop their skills and excel in their academic and professional careers, and to qualify them with the technical qualifications they require. The MoU was signed by Mohammed Almoayyed – Director at YKA, and Dr. Ciaran O Cathain …
AD Ports Group (ADX: ADPORTS), a leading facilitator of global trade, logistics and industry, today signed a MoU with the Chittagong Port Authority to explore the future development and operation of the Multi-Purpose Terminal in Chittagong Port and other ancillary opportunities in Bangladesh.The MoU was signed in presence of H.E. Abdulla AlHmoudi, UAE Ambassador, Head of the UAE Mission to Bangladesh and Mr. Khalid Mahmud Chowdhury, MP, Honourable Minister of State, Mr. Md. Mostafa Kamal, Senior…
The transaction builds on an already successful partnership between the two organizations and better positions Fortress to capitalize on opportunities in the global credit markets to further establish itself as a leader in the alternative asset management space. Fortress Investment Group (“Fortress”) and Mubadala Investment Company (“Mubadala”), through its wholly owned asset management subsidiary Mubadala Capital (“Mubadala Capital”), today announced that they have completed the pre…
Dubai Electricity and Water Authority (DEWA)’ Research and Development (R&D) Centre provides fantastic opportunities to develop and foster the research capabilities of Emirati talents and competencies. The Centre encourages them to utilise innovation and creativity to find sustainable solutions, supported by three enablers: The Fourth Industrial Revolution, Energy System Analyses, and Space. The Centre provides its staff with the latest global technologies, labs, and advanced facilities to ens…
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).....
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…
South East Asia
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.....
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 …