In India, the company has 27 active investments including in Swiggy, NSE India, Duroflex, Finova Capital, Kishlay Foods, Mintifi, Quikr among others Norwest Venture Partners, a global venture capital and growth equity investment firm, closed its $3 billion fund on Thursday. The firm will deploy the fund across three markets: US, India, and Israel. With the new fund closure, the firm’s total capital under management rose to $15.5 billion. The new fund would enable the Norwest team to continue p…

Tata Electronics, an arm of Tata conglomerate, has recently taken a bold step in India's tech sector by initiating a partnership aimed at localizing the production of iPhone casings. This move signifies a shift from reliance on China. Tata Electronics, a significant player in assembling enclosures for Apple iPhones in India, has partnered with companies in Pune and Bengaluru to enhance the development of high-precision machines, as per a report by Economic Times on April 26....

With 70,000 net additions, FY24 ended as the lowest intake year over a two-decade period The IT sector in India, after a complete fiscal of low-to-no freshers and entry-level hiring, will see fresher hiring pick up in FY25. As the deal pipeline swells, attrition comes down, and utilisation levels peak amid a tough demand environment, fresher hiring will also be an effective cost-play for IT firms.....

The second phase of voting for Lok Sabha elections 2024 will be held on Friday, April 26. This phase will see voting in 89 constituencies in 13 states and Union territories (UT).     All 20 Lok Sabha seats in Kerela will go to polls on Friday, concluding voting in the state....   More https://bit.ly/4dcibfA Via business-standard.com

The aggressive pricing would place JioCinema in a stronger footing to compete with Netflix and Amazon after an agreement with Disney to merge India TV and streaming assets. Mukesh Ambani's JioCinema is offering Hollywood movies and TV shows for as little as one rupee a day in a move that could disrupt India's 1 billion-plus streaming market......

- Automotive clients account for up to 35% of IT services' manufacturing clients - India's top IT firms thus clearly draw meaningful revenue from carmakers around the world - With the advent of electric and tech-laden cars, IT's reliance on automotive revenue is now rising Auto companies may yet smoothen the bumps for Indian IT services in FY24, a year that has so far been one of the worst in the $253-billion industry's history.  The country's top IT companies are seeing way faster growth from …

70 per cent of companies have AI projects up and running or in motion India heads the pack as an AI leader, with 70 per cent of companies having AI projects up and running, or in motion. This is in stark contrast with the global average of 49 per cent, according to a report by NetApp.....

The central bank had turned down the firm's application citing complex corporate structure post which PayU had to pause onboarding new merchants for its online payment aggregation business. Prosus-backed PayU Payments has received Reserve Bank of India's in-principle approval to operate as a payment aggregator and onboard new merchants onto its platform. The clearance comes after year-long wait. The central bank had turned down the firm's application citing complex corporate structure post which…

Zilingo's ex-CEO Ankiti Bose accuses co-founders Dhruv Kapoor and ex-COO Aadi Vaidya of misleading her and investors, coercing her to relinquish shares and business, and engaging in financial misconduct. Ankiti Bose, co-founder of and ex-CEO of fashion e-commerce startup Zilingo has reportedly filed a criminal complaint against fellow co-founder Dhruv Kapoor and ex-COO Aadi Vaidya, pressing charges of 'cheating', 'criminal intimidation', 'conspiracy', and 'harassment'......

One in five 3Ws sold globally was electric, and about 60 per cent of those were sold in India India surpassed China to become the largest market for electric three-wheelers in 2023, thanks to government financial incentives and resulting reductions in the cost of ownership of electric three-wheelers (3Ws), according to a report by the International Energy Agency (IEA)....

e& UAE released a new whitepaper, offering a blueprint for navigating the future of telecommunications with artificial intelligence (AI). Titled “Unleashing the Power of AI: How e& UAE is Shaping the Future of AI in Telecommunications and Beyond” it offers an in-depth exploration of e& UAE’s journey towards becoming an AI-driven organisation, significantly contributing to the nation’s digital future. The whitepaper explores e& UAE’s strategic integration of more than 400 AI use case…

Furthering Dubai's commitment to accessible travel and to raise awareness of autism, Emirates invited 30 UAE families with neurodiverse children to have a real check in experience and familiarisation flight on the 24 April, in Terminal 3 Dubai International Airport (DXB). The initiative was designed to help the children practice and alleviate anxieties before travelling, as well as providing a unique opportunity for Emirates to collaborate with key partners, and garner insights for improving acc…

Dubai’s Roads and Transport Authority (RTA) has expanded its 'Bus on Demand' service to Business Bay following a successful month-long trial, as per the planned roll-out of the initiative.   Adel Shakri, Director of Planning and Business Development at RTA's Public Transport Agency, said, “The decision to extend the 'Bus on Demand' service to Business Bay aims to bolster the mass transit network and ease congestion in vital areas. The initiative also responds to the growing demand for the s…

The scenic slopes of Taif come alive with the fragrant beauty of over 550 million roses produced annually in the over 900 farms spread across Al-Hada, Al-Shafa, Wadi Muharram, Al-Wahat, and Al-Wahit.Farmers here cultivate roughly 1.14 million rose shrubs on 270 hectares of land. The rose season flourishes from the beginning of March to the end of April. Taif's rose industry extends beyond the captivating blooms. More than 70 rose production and distillation factories and laboratories extract val…

Marriott International, Inc. announced it has signed an agreement with NEOM to open its second Ritz-Carlton Reserve in Saudi Arabia. Anticipated to open in Trojena, a year-round mountain destination located in the northwest region of the country, the property will offer a complete escape into a private world of luxury. Designed for the most discerning travelers seeking a bespoke experience, Ritz-Carlton Reserve properties are tucked away in handpicked corners of the world. Highly personalized s…

The Saudi Data & AI Authority (SDAIA), represented by its Academy, organized a training program that aims to develop the capabilities of 25 leaders from the Ministry of Media and its affiliate media entities, including the Saudi Broadcasting Authority, Saudi Press Agency, and General Commission for Audiovisual Media on the uses of data and AI technologies according to the best international practices. The program is part of a series of programs organized in various stages to accommodate differen…

On Thursday 18 April, at around 7pm, the first ball was bowled to start an international women’s cricket match between Ireland and Thailand at The Sevens Stadium. It was the first match played at the stadium after it successfully reopened just two days after heavy rains caused major flooding across its pitches, and high winds damaged other areas across its facilities.  Prioritising the resumption of sporting activities to support local communities, the team at the Sevens Stadium, along with …

DMCC successfully concluded its first Made for Trade Live roadshow in Japan, which focused on Web3, gaming and AI to further complement the thriving tech ecosystem within DMCC. The event in Tokyo builds on the growing bilateral trade and investment relations between the UAE and Japan. DMCC is home to 83 Japanese companies, constituting over 24% of Japanese firms that are set up in the country, and sees further opportunities for Japanese businesses to accelerate their growth through Dubai. The ev…

DP World and Malaysia’s Sabah Ports Sdn. Bhd today established a partnership to manage Sapangar Bay Container Port (SBCP) to cement SBCP’s position as the premier regional trade hub for the Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA)1. Sabah Ports Sdn. Bhd is a wholly owned subsidiary of Malaysian public listed investment holding company, Suria Capital Holdings Bhd. The agreement was signed by Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP Wo…

The Labour Fund, Tamkeen, has announced its support for the establishment of PwC Middle East’s Regional Service Delivery Centre in Bahrain, which will provide advisory and operational services across sectors. This initiative aligns with the goals of Tamkeen’s National Employment Program and aims to offer up to 250 employment opportunities for Bahraini nationals, enhancing local economic contributions.  The initiative strengthens Bahrain’s position from which local and international insti…

AirAsia Cambodia's inaugural flight graced the skies of Phnom Penh International Airport on April 20, bringing with it the promise of enhanced connectivity and a tourism boost for Cambodia.  As noted by Prime Minister Hun Manet in a recent social media post, the aircraft, adorned with the iconic image of Angkor Wat and traditional Cambodian motifs, marks a significant milestone in the country's aviation industry.....

The Vietnam Online Business Forum 2024, themed “Sustainable E-Commerce”, kicked off in Hà Nội on April 25. The annual event, held by the Vietnam E-Commerce Association (VECOM), aimed to provide a comprehensive overview of e-commerce in the past year and shed light on the latest technology trends impacting the industry through a market research on smart consumer behavior and overview of the 2024 e-commerce market and its prominent trends....

The Asian Terminal, Inc. (ATI) and Dubai-based logistics firm DP World target to turn a newly registered economic zone in Cavite into a smart and world-class facility. This, as ATI and DP World inaugurated on Thursday the Tanza Container Terminal Inc. (TCTI) located inside the MetroCas Industrial Estates - Special Economic Zone (MIE-SEZ) in Barangay Calibuyo in Tanza, Cavite. “(T)he four-hectare facility features a concrete container yard, docking facilities with harbor cranes supported by rea…

A brand new hotel, Hotel Indigo Changi Airport, will be opening at Changi Airport, expanding the airport’s hospitality offerings and enhancing the experience of passengers and visitors. The hotel will be located in the public area of the airport and connected to Terminal 2 via a linkway. Boasting 255 rooms with innovative design elements and modern facilities, it is expected to be completed and fully operational by 2028. Built at the existing Terminal 2 Coach Stand, guests can look forward to …

Hotel operators anticipate high expenses from power bills, food prices and labour wages as the low season arrives amid scorching temperatures. Thienprasit Chaiyapatranun, president of the Thai Hotels Association (THA), said during the hot season, electricity expenses could rise to 20% of total costs, compared with 10% in the cool season.... https://www.bangkokpost.com/business/general/2781724/rising-expenses-add-to-hotels-woes

DP World and Malaysia’s Sabah Ports Sdn. Bhd today established a partnership to manage Sapangar Bay Container Port (SBCP) to cement SBCP’s position as the premier regional trade hub for the Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA)1. Sabah Ports Sdn. Bhd is a wholly owned subsidiary of Malaysian public listed investment holding company, Suria Capital Holdings Bhd. The agreement was signed by Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP Wo…

Southeast Asian casino investor Donaco International Ltd reported group-wide revenue of AU$12.7 million (US$8.3 million) in the three months to 31 March 2024, representing a 30.1% increase over the December quarter on improved business volumes at its Cambodian and Vietnamese casinos.....

Following a challenging 2023, local businesses have returned upbeat results from the first quarter (Q1) of this year, heralding rosier prospects for the rest of 2024. Thanh Cong Textile Garment Investment Trading JSC (TCM), a large exporter based in Ho Chi Minh City, revealed that the company saw an estimated $39 million in revenue and $2.5 million in profit in Q1, up 6 per cent and 9 per cent respectively, on-year.

The Asian Development Bank (ADB) and Buskowitz Solar Inc., a subsidiary of Buskowitz Energy Inc. signed a $12 million (equivalent to 675 million Philippine pesos) deal to support clean and affordable solar energy for commercial and industrial consumers in the Philippines. The project will generate 88 gigawatt-hours of clean electricity annually and reduce 54,000 tons of carbon dioxide equivalent emissions. The financing will support the development, construction, and operation of multiple solar…

The recently announced guidelines on flexible work arrangements have prompted Singapore-based companies to rethink their workplace policies. Many local employers, including those with flexible work arrangements already in place, see the potential for increased productivity and employee satisfaction, but smaller firms appear less convinced.....