With an initial production capacity of over 500,000 e-cycles annually, the gigafactory aims to meet the rising demand for alternative modes of transportation EMotorad, an electric vehicle company backed by cricketer Mahendra Singh Dhoni, is building the world’s biggest integrated electric cycle gigafactory. The firm is set to follow Ola as it expands its existing manufacturing unit in Pune. With this expansion, India will be home to two of the world's largest gigafactories: one for Ola Electri…

Britannia Industries on Monday said it will focus on a double-digit sales volume growth this fiscal year, as the company expects normal monsoons to aid consumption despite a likely rise in prices of wheat and sugar, key ingredients for packaged foods.....

‘We have leveraged the existing merchant infrastructure on the UPI to facilitate CBDC transactions’ Reserve Bank of India Governor Shaktikanta Das said while currently there is preference for UPI (Unified Payments Interface) among retail users, the advantages of retail CBDCs (central bank digital currencies) will be more visible once they are enabled for offline use.....  

Billionaire investor Warren Buffett said that the Indian market has unexplored opportunities which his conglomerate holding company, Berkshire Hathaway, would like to explore in the future".   Buffett's remarks came at Berkshire's annual meeting on Friday when Rajeev Agarwal of DoorDarshi Advisors, a US-based hedge fund that invests in Indian equities, asked him about the possibility of Berkshire exploring in India, the world's fifth-largest economy.....   More https://bit.ly/3WmUOtY Via busi…

"Previous Indian governments have even put Chinese interests ahead of our own," he said. "I cannot, in the name of an open economy, open up my national security to work with a country which is laying claim to my territory. Both our economic and national security are at stake," the minister added. "Today, we are focused on what is good for India. This is in contrast to an earlier left-wing liberal belief that there is a bigger cause out there, which causes our national interest to take second pla…

By 2027, JSW Infrastructure anticipates a 50% increase in capacity to 258 million tonne with an investment of ₹14,000 crore Private port operator JSW Infrastructure Ltd plans to invest over ₹2,500 crore in fiscal year 2025 to expand its cargo handling capacity, said Arun Maheshwari, joint MD and CEO of the company told Mint.....

Secure IOT is now being pitched to electronics manufacturers, ODMs and other mid-market customers in India and abroad For the first time, a microprocessor chip designed, owned, and marketed from India is set to be out in the open market and will soon power smart electronic devices....

Telcos’ add 5.6 million active users in March; highest in 1 year Airtel added 2.8 million active users, taking its total active user base to 385.4 million, according to the data. Telecom service providers saw a surge in active subscribers in March, adding 5.6 million new users, the highest in a year, according to a data from the Telecom Regulatory Authority of India (Trai).

The mobile app, which has been pegged as a chat assistant, is built on the company’s own large language model that can assist people as a writing tool to generate content Ola founder Bhavish Aggarwal’s Krutrim, India’s first AI unicorn platform, has launched its standalone android app and has opened up its cloud platform, Krutrim Cloud to enterprises, researchers, and developers. With this, Ola Krutrim will compete with Microsoft Azure, Google Cloud, and Amazon Web Services....

The central bank is also due to pay the government the annual dividend in May, which will further improve the government's cash position. The securities offered for buyback are 6.18% GS 2024, 9.15% GS 2024 and 6.89% GS 2025, maturing on November 4, November 14, and January 16, the central bank said....  

MoU signed between RTA and French Business Council to promote cooperation, share expertise His Excellency Mattar Al Tayer, Director General, Chairman of the Board of Executive Directors of the Roads and Transport Authority (RTA) opened today the 5th Emirati French Business Engagement Summit.  The Summit, organised by RTA in collaboration with the French Business Council ‘CCI France UAE,’ was attended by His Excellency Nicolas Niemtchinow, Ambassador of the French Republic to the UAE; Her Ex…

21-23 May 2024 ADNEC Centre, Abu Dhabi ISNR Abu Dhabi is the region’s most trusted platform bringing together national & cyber security officials, buyers, and all supply chain stakeholders from public and private sectors, to conduct business, enhance industry leadership and showcase innovation to discuss & influence future projects. ISNR will once again be a driving force in helping shape innovation in national and cybersecurity.... More https://www.isnrabudhabi.com/

Brazil’s biofuel market is set for substantial growth as UAE’s Mubadala Capital has committed to invest $13.5 billion over the next decade. Oscar Fahlgren, head of Brazil strategy at the sovereign wealth fund, disclosed the budget for the initiative during an interview with the Financial Times. He divulged the details of the fund’s plans to produce renewable diesel and sustainable aviation kerosene primarily utilizing non-food plant matter.....

Saudi banks and the capital market are poised to make substantial contributions alongside the Public Investment Fund in achieving the objectives of Vision 2030, stated a report by S&P Global.  The latest analysis by the global rating agency underscores that their involvement in the Kingdom’s economic diversification endeavors will enhance leverage in both the Saudi private sector and the broader economy.....

Red Sea Global (RSG), the multi-project developer behind regenerative tourism destinations The Red Sea and AMAALA, has officially revealed the name and designs of its golf course and clubhouse on Shura Island at The Red Sea set to complete and open in full in 2025.  Shura Links promises a one-of-a-kind golf experience, offering Saudi Arabia’s first 18-hole island golf course with holes on the water, marina views and spectacular fairways framed by the Red Sea.  Developed in partnership with w…

- Bahrain will be first destination served by the Emirates A350, introducing Premium Economy seats on Middle East/GCC regional routes for the first time - Emirates Premium Economy seats will be available on 42 destinations* by February 2025   Emirates has today announced the first set of destinations to be served by its A350 aircraft entering service in September 2024. With 10 new A350s expected to join the Emirates fleet by 31 March 2025, the airline plans to deploy its latest aircraft type…

Dubai Police announced its participation in the highly anticipated Arab Travel Market 2024 exhibition, which will commence tomorrow, Monday, at the Dubai World Trade Centre. During this remarkable event, Dubai Police will showcase eight specialized services dedicated to ensuring the safety and security of the emirate's tourists and visitors.  Brigadier Harib Al Shamsi, Acting Director of the General Department of Criminal Investigations at Dubai Police, reaffirmed Dubai Police's commitment to p…

All Customer Happiness Centres are set to transform into 'Smart and Hybrid' centres by next year - Al Tayer Dubai’s Roads and Transport Authority (RTA) has embarked on Phase II of Upgrading Customer Happiness Centres Development Project. This phase involves converting Umm Ramool and Al Barsha Centres into hybrid centres. The move is part of RTA’s master plan to enhance its electronic and digital service offering in line with the UAE's Digital Government Strategy, Dubai Government's “360 Se…

Saudi Arabia’s fintech sector has made significant strides as it nears its goal to become a regional financial hub, according to a report by Arthur D. Little.   In its latest study titled “Realizing Potential of Fintech in Kingdom of Saudi Arabia,” the international management consulting firm highlighted the rapid growth and innovation within the sector, spearheaded by initiatives such as Fintech Saudi.....

Key Rent a Car, a top player in Saudi Arabia's car rental market, has launched its Monthly Key Subscriptions Service, reshaping the Saudi Arabian car rental landscape. This service, now nationwide, offers a flexible, budget-friendly alternative, emphasizing convenience and aligning with contemporary demands for flexibility and value.                 “We understand modern drivers crave options, value, and seamless experiences," said a spokesman at Key Car Rental. "Our Monthl…

The Philippines' gross international reserves (GIR) settled at USD103.4 billion as of the end of April this year, the Bangko Sentral ng Pilipinas (BSP). In a statement released late Tuesday, the BSP said the GIR last month was slightly lower than the end-March GIR level of USD104.1 billion. "The month-on-month decrease in the GIR level reflected mainly the National Government’s (NG) net foreign currency withdrawals from its deposits with the BSP to settle its foreign currency debt obligations …

Pro-Palestinian voices include former prime minister Mahathir Mohamad, who said the companies Lockheed Martin and MBDA should be ordered to leave. Malaysia has dismissed calls by pro-Palestinian groups and some politicians to remove foreign firms that supply weapons to Israel from government-backed defence exhibitions in Kuala Lumpur. The relationship of some global defence companies with certain countries is a “business matter that Malaysia will not interfere with”, said Defence Minister Mo…

This is the third time Olam Agri is upping the ante ONE day after Dutch global commodity merchant Louis Dreyfus Company raised its takeover offer to A$0.67 per share for Namoi Cotton, Olam Agri has topped the bid by raising its stake to A$0.70 per share on Wednesday (May 8), heating up the tussle for the Australia’s largest cotton ginner. The new offer by Olam Group’s indirect 64.57 per cent-owned subsidiary would value Namoi at A$144.9 million (S$129.4 million), up from rival bidder’s s…

National carrier Singapore Airlines (SIA) and its low-cost arm, Scoot, will buy 1,000 tonnes of green jet fuel from Finnish energy giant Neste as the airline group looks to fulfil its promise of achieving net-zero carbon emissions by 2050. The carriers will be the first at Changi Airport to receive sustainable aviation fuel produced at Neste’s refinery in Tuas South. It will also be the first time that Neste is supplying the fuel directly to airlines at the airport instead of through an inte…

Taiwan-based Bank SinoPac has announced plans to acquire Amret Plc., one of Cambodia’s ten largest financial institutions. SinoPac have reportedly agreed to pay approximately $543 million, or around 1.8 times the company’s book value. Amret began as a small French-run NGO, offering microfinance loans in just three rural provinces in Cambodia, with a view to supporting local entrepreneurs through access to credit. In 2000, it became a private limited company, receiving its MFI license from th…

The government will allocate RM9.5 million to implement a new cocoa plantation project and cocoa farm recovery project, said Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani.  Johari said the new cocoa plantation will cover an area of 350 hectares, while the cocoa farm recovery project will encompass 2,126 hectares....

Danish jewellery maker Pandora will break ground on its $150 million factory inthe southern province of Binh Duong on May 16, according to the Danish Embassy in Hanoi. The jewellery crafting facility in Binh Duong is Pandora's third facility in the world and the first production facility built outside of Thailand. Located in Vietnam-Singapore Industrial Park 3 (VSIP 3), the factory will have an annual capacity of 60 million pieces of jewellery and create jobs for more than 6,000 craftspeople...…

Local raw sugar production in the current crop year expanded to 1.86 million metric tons (MT), surpassing the previous crop year’s entire output, due to more sugarcane milled and better sweetener content. Latest data from the Sugar Regulatory Administration (SRA) showed that raw sugar output in crop year 2023-2024 as of April 14 was 3.6 percent higher than the 1.8 million MT output in the previous crop year......

The tills are not ringing like they used to and the footfall has eased at Singapore’s prime shopping belt in Orchard Road, but a home-grown technology start-up is hoping it can chart a new way for retailers there to draw the younger crowd. The firm, Alteredverse, has teamed up with the Singapore Land Authority (SLA) and the Institute of Technical Education (ITE) to create a virtual replica of the Orchard Road shopping belt....

Tourism Malaysia and the Malaysia Aviation Group (MAG) have announced the signing of a Memorandum of Understanding (MoU) (30.04.24), marking a significant step in a three-year partnership. This MoU signifies the commitment from both parties to reinforce Malaysia as the gateway to Asia and beyond and position Malaysia as a preferred tourist destination in the global economy. The MoU was signed between Tourism Malaysia's Deputy Director-General (Promotion II), Mr. Lee Tai Hung, and the Chief Comme…