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India
Cash deposits or withdrawals exceeding Rs 10 lakh (1 million) in a year in a savings account (except current accounts and fixed deposits) require reporting to the Income Tax department. Cash deposits or withdrawals exceeding Rs 10 lakh (1 million) in a year in a savings account (except current accounts and fixed deposits) require reporting to the Income Tax department. Banks and post offices are responsible for reporting such transactions. Certain high-value financial transactions in India can…
Gurgaon-based CG Foods India boasts a significant presence in the country's instant noodles market, commanding a 28 per cent share and generating an annual revenue of approximately $130 million. Nepalese billionaire Binod Chaudhary, known for his Wai Wai brand of noodles that rivals market leader Maggi from Nestle and ITC’s Yippee, is nurturing IPO ambitions in India. ....
Apple is in advanced discussions with Titan and Murugappa Group for sourcing crucial components for camera modules used in iPhones, marking a shift from its manufacturing centre in China to India. Tech giant Apple is in advanced discussions with Indian conglomerates Murugappa Group and Titan to assemble and produce sub-components for the camera modules used in iPhones, The Economic Times reported on April 16......
The acquisition is estimated at a total value of ₹413.75 crore Ambuja Cements, the cement and building material company of Adani Group, has signed an agreement to acquire My Home Group’s 1.5 mtpa (million tonne per annum) cement grinding unit in Tuticorin in Tamil Nadu.....
Exports expected to cross 80% of its production Apple has set a new record by exporting $10 billion worth of iPhones from India during FY24, according to data provided to the government — a 100 per cent increase over the previous financial year under the Production-Linked Incentive (PLI) scheme. In terms of consumer products, this constitutes the largest-ever export of a single branded product by any company from India....
Tesla has reportedly signed a strategic deal with Tata Electronics to procure semiconductor chips for its global operations. The deal, which was executed discreetly a few months ago, positions Tata Electronics as a reliable supplier for global clients looking to establish a segment of their semiconductor value chain within India.....
The agreement is a part of the group's renewed focus on growing its energy portfolio in India amid cutthroat competition among large domestic corporations. Vedanta Ltd is set to raise ₹3,900-4,000 crore from Power Finance Corp. Ltd to boost its power generation capacity, signalling the group may be winning back the trust of large domestic lenders. The Anil Agarwal-led company has secured a rupee term loan facility from the state-run lender for at least ₹3,918 crore, which can go up to ₹4,…
Party’s key promises include Uniform Civil Code, ‘One Nation, One Election,’ and making Bharat a global manufacturing hub The Bharatiya Janata Party’s (BJP) manifesto on Sunday underscored the party’s fulfilment of its ideological promises of Ram Mandir and Article 370 and committed to ushering in Uniform Civil Code and ‘One Nation, One Election’ besides transforming ‘Bharat’ into a global manufacturing hub and it to top three economies of the world.......
16 April 2024 Sheraton Grand - Whitefield Bengaluru CIOs Unite: Tech Triumphs with AI India's top IT leaders will gather to provide an overview of the current market situation, highlight business-centric challenges, and discuss the need for and new trends in digital innovation. Big CIO Show is a thought-leadership, business-focused initiative that provides a platform for CIOs who are looking to explore new-age technologies and implement them in their organizations. The show will host CIOs acro…
PM Modi underscored the necessity of distinguishing esports as a mainstream sport, dissociated from gambling and Real Money Gaming (RMG) applications. In an engaging exchange with some of India's leading creators, Prime Minister Narendra Modi championed the burgeoning esports sector, advocating for its unimpeded growth within a structured and lawful framework to bolster job creation....
Middle East
- The latest DMCC Future of Trade report on Web3 examines the drivers of growth and digital decentralisation in crypto, metaverse and DeFi - Metaverse global market value projected to rise to USD 3.4 trillion by 2027, with DeFi to reach USD 600 billion by 2032 - Artificial Intelligence will accelerate innovations in Web3 - The UAE is a global leader on crypto regulation through investor-friendly approach - DMCC is home to the largest concentration of Web3, crypto, and blockchain businesses acros…
This 75th auction offers fancy plates for private and vintage vehicles as well as motorbikes Dubai’s Roads and Transport Authority (RTA) is offering 350 unique number plates of 3, 4 and 5 digits for private and vintage vehicles as well as motorbikes bearing (A-H-I-J-K-L-M-N-O-P-Q-R-S-T-U-V-W-X) codes. Registration of bidders for this 75th online auction open Monday, April 15th, and bidding starts at 08:00 am on Monday, April 22nd, 2024 and continues for five days only. The selling of licens…
Ducab Group, one of the biggest end-to-end solutions providers and manufacturing firms in the UAE, has revealed its strategic expansion into 20 new markets, bringing its geographic footprint to 75 countries. Leveraging 44 years of pioneering achievements, Ducab has established a formidable legacy, with a track record of over 5,000 successful projects and partnerships spanning the Middle East, Africa, Asia, Australasia, Europe, and the Americas. The company’s product portfolio, featuring 85,000…
- Over 100 leading global construction companies briefed on the current progress of construction and breadth of opportunities on key projects throughout NEOM. - Nadhmi Al-Nasr, CEO of NEOM, emphasized the progress on the ground, the scale of future opportunities and commitment to collaborating with globally renowned contractors to achieve NEOM's vision. NEOM, the sustainable development taking shape in the northwest of Saudi Arabia, has brought together over 100 of the world’s leading construc…
Delivered through a blended learning and self-paced format, the program took learners through the fundamentals of AI with the help of expert instructors. The inaugural edition of the Samsung Innovation Campus (SIC) -Samsung Electronics' signature artificial intelligence (AI) course, which was launched as a partnership with Qatar's Ministry of Sports and Youth as well as the country's Youth Entrepreneur Club- has announced the graduation of 64 students in its first cohort.....
The decision behind PureBorn's international expansion is solely driven by an increasing demand for the venture's eco-conscious baby products. PureBorn, a UAE-grown vegan baby care brand that designs hypoallergenic, ultra-absorbent diapers, wipes, and pants made with up to 43% organic bamboo, has announced the direct distribution of its products across Europe.....
April 18, 2024 7pm-9pm Towers Rotana Sheikh Zayed Road Building relationships is essential to success! Dubai Networking Nights are FREE for members and only 55aed for guests, and (as always), the first drink is on us. There will also be snacks on hand to keep the conversation flowing so head on down to Teatro, Towers Rotana, on Thursday 18 April. You never know who you might meet. FREE for members and only 55 Aed for guests. More https://bit.ly/3VWlMIA Source Australian Business Council - Dubai
22-23 APRIL 2024 JW MARRIOTT HOTEL MARINA 2000+ Web3 Stakeholders300+ Investors100+ Sponsors & Partners50+ Speakers30+ Countries Represented 22 APR 2024 9:00 am - 5:00 pm Registration starts at 8.30 am Onwards Conference sessions Tech Talks Exhibition Networking and Deal flow 23 APR 2024 9:30 am - 4:30 pm Registration starts at 9.00 am OnwardsConference sessions Tech Talks Exhibition Networking and Deal flow Startup World Cup Pitch Competition Official event after-party at 3BK Arman…
The United Arab Emirates ranked first regionally in the 2023/2024 Human Development Index report issued by the United Nations Development Programme, advancing nine places in the global ranking from the previous report, to rank 17th globally out of 193 countries covered in the report, ahead of countries such as Canada, the United States, and Japan, thereby attaining a prestigious status and becoming the only Arab country among the top 20 globally. His Excellency Abdulla Nasser Lootah, Deputy M…
Dubai Electricity and Water Authority (DEWA) has launched its smart app on Apple Vision Pro glasses, becoming the first utility to provide its services through this technology that combines augmented and virtual reality. DEWA is making use of the various capabilities and features of Apple Vision Pro to enhance customer services. The move supports DEWA’s efforts to enhance smart adoption and provide its services to all customers through various digital channels. Through Apple Vision Pro, DEWA p…
South East Asia
Singapore-based Hydroleap has teamed up with homegrown Biocare Health Resources Inc. (BHRI) to distribute advanced electrochemical solutions for treating wastewater in the Philippines. Hydroleap, a next-generation water technology firm, will power Cyclean, a flagship product of BHRI’s new environmental division ENVISOL (Biocare Environmental Solutions).....
US-based tech giant Apple will increase spending on suppliers in Vietnam – a key production hub, as CEO Tim Cook is paying a two-day visit to the country, starting on April 15.The group announced the information in a statement on its website but gave no details of how much it will spend as well as where the money will go.....
United States-based business process outsourcing (BPO) firm Afni formally launched its new Philippine site in the city of Santa Rosa, Laguna province on Saturday, expanding its presence outside Metro Manila. The new Afni office, located right next to SM City Santa Rosa, commenced hiring last December 2023 and hopes to fill at least 3,000 positions by end of 2024. Khalid Khursheed, senior vice president and country manager of Afni Philippines, said the firm chose Santa Rosa as location to its thi…
South-east Asia’s used-car marketplace Carro is raising about US$100 million (S$136 million) as it gears up for a stock-market debut, betting that new funds will cement it as the region’s top player. The company is speaking with investors for a pre-IPO (initial public offering) funding round which could raise its valuation to more than US$1.5 billion, chief executive officer Aaron Tan said in an interview.....
THE electric vehicle (EV) industry has a lot of ground momentum driving its growth and adoption globally, but there are still key chokepoints that could impede any widespread adoption locally – at least for the moment. No doubt, the EV sector is still touted as the biggest shift in the automotive industry that is still in progress since the development of the petrol internal combustion engine (ICE) which took off in the 20th Century.....
Local reports in Thailand say a new Schengen-style visa system in Southeast Asia could boost tourism - and the wider economy. Thailand is looking to boost tourism across Southeast Asia with a new visa scheme. The Asian nation is advocating for a Schengen-style visa along with five neighbouring countries.....
It is necessary for Viêt Nam to develop a legal framework for cryptocurrency to prevent risks and illegal appropriation. Cao Đăng Vinh, deputy director of the Department of Economic and Civil Legislation, said on Friday that there are still different understandings about virtual assets, digital currencies and cryptocurrencies. Countries also have different management approaches.....
The country’s largest franchising association is looking to grow franchise stores and revenues by eight to 10 percent this year as more foreign brands are interested to enter the country, while local brands continue to expand. Philippine Franchise Association (PFA) chairman Sam Christopher Lim said during the 31st Franchise Asia Philippines Expo the group is looking at an eight to 10 percent growth in franchise stores this year.....
Vital for Singapore to engage Europe in new era of great power politics SINGAPORE’S plans to upgrade relations with France and Germany will open up new areas of cooperation, such as in artificial intelligence (AI), sustainability and defence, said Deputy Prime Minister Lawrence Wong on Friday (Apr 12). Wong was speaking to reporters at the Singapore embassy in Paris, as he wrapped up a six-day trip to Germany and France – his first official visit to Europe in his current capacity......
The United States will set up an economic corridor on the main island of Luzon — the first of its kind in the Indo-Pacific region — to enable coordinated investments in high-impact projects, with assistance from Japan. The corridor under the US’s Partnership for Global Infrastructure and Investment (PGI), an initiative under the Indo-Pacific Economic Framework, will connect the capital Manila, the southern Luzon province of Batangas, Subic Bay, and Clark, US President Joseph Biden with Phi…