Godfrey Phillips India had on April 12 announced its plan to sell the loss-making 24Seven convenience store chain after a review of its retail business division Godfrey Phillips, backed by the KK Modi group, is in discussions with Tata Trent, Reliance Retail, and Avenue Supermarts for a potential sale of its retail grocery chain, 24Seven, The Economic Times (ET) reported. The outcome of the talks will depend on the valuation, the business daily said, citing sources..... More https://bit.ly/444r…

Matthew Miller was asked why the US has not considered sanctions against India over the matter of the murder plot of Khalistani terrorist Gurpatwant Singh Pannun in New York, the killing of Hardeep Singh Nijjar in Canada and the reported killings in Pakistan.....

LinkedIn Top Companies 2024: Social media job portal LinkedIn has released its list of top 25 workplaces in India with over 5,000 employees, and a top-15 list for mid-size companies with less than 5,000 workers. Take a look. LinkedIn India Top Companies 2024: LinkedIn's annual ranking of top companies, listing the top 25 workplaces in India with over 5,000 employees globally, was released by the social media job portal in a blogpost on April 16....

The first phase of operations with a dedicated line for manufacturing new range of engineered wooden doors have already begun Shakti Hörmann, an industrial, commercial and residential door manufacturing company, has commissioned a 2.50 lakh sq ft manufacturing facility in Mahindra World City in Jaipur. The company invested ₹175 crore to develop the facility, which can produce 1.50 lakh engineered wooden doors......

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.....

- Triton Liquid, funded by leading US venture capital investors, has received an In-Principal Approval for a Financial Services Permission (FSP) - Triton’s launch will open greater access to more sophisticated, liquid, institutional-grade digital asset projects to Middle East investors, stimulating further economic diversification in the UAE - Triton cites the UAE’s “visionary leadership, financial services pedigree and constant drive for fintech innovation” as motivation for the move to…

Acknowledging Dubai International’s (DXB) achievement of retaining its title as the world's busiest international airport for the 10th year running, as announced by the Airports Council International (ACI), Dubai Airports CEO Paul Griffiths makes a statement on this remarkable feat:  “While this milestone was greatly anticipated, its official confirmation instils us with great pride. DXB is proud to uphold its status as the world's foremost international airport for an unparalleled ten ye…

- This strategic investment will enhance the UAE’s position as a global AI hub and provide further opportunities for partners and customers to innovate and grow. - G42 and Microsoft will collaborate to ensure the benefits of secure AI technologies and cloud capabilities are responsibly shared with growing economies globally. - Microsoft’s Vice Chair and President Brad Smith will take a seat on the G42 Board. - Both companies will support the establishment of a $1B fund for developers. - The…

The World Bank has raised its expectations for Saudi Arabia’s economic growth to 5.9 percent in 2025 from 4.2 percent predicted earlier in January. In its latest report the bank, however, revised its 2024 forecast for the Kingdom’s gross domestic product growth downward to 2.5 percent from an earlier forecast of 4.1 percent.....

Film sheds light on the importance of combating the impact of climate change on coral reefs. Red Sea Global (RSG), the developer behind regenerative tourism destinations The Red Sea and AMAALA, has announced a collaboration with leading global media and entertainment company Warner Bros. Discovery on a documentary film that sheds light on the vital importance of combating the impact of climate change on coral reefs. Beneath the Surface: The Fight for Corals, set to air on Discovery linear on Ear…

- 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.....

Young Malaysians are having fewer children than the generations before them. Economists warn that if this trend plays out concurrently with rising life expectancy, the country’s healthcare and pension systems, and the economy on the whole, will come under strain. Malaysia’s fertility rate – the average number of births per woman – plummeted from 4.9 in 1970 to just 1.6 in 2023, a span of just over 50 years. The 1.6 figure, on a par with that of the United States, is a record low in Malay…

The latest report card on Singapore’s trade performance released on April 17 has economists sounding warnings on the export outlook and pointing to weakness in the key semiconductor industry. Non-oil domestic exports (Nodx) shrank 20.7 per cent in March, a steeper contraction than February’s revised 0.2 per cent decline, albeit from a high base a year ago....

The planning for 30 airports, both international and domestic, is expected to be completed by 2025 under a master plan on airport development for 2021-2030 with a vision towards 2050. The Ministry of Transport recently proposed the Prime Minister approve plans, policies, and solutions to materialise the master plan....

The Intellectual Property Office of the Philippines  (IPOPHL) has signed a Memorandum of Agreement (MOA) with the Philippine Chamber of Commerce and Industry (PCCI) to bring IPOPHL’s inclusive incentive packages, especially its Juan for the World (JFTW) Program, closer to micro, small and medium enterprises (MSMEs).  “IPOPHL looks forward to a stronger partnership with PCCI so that we empower our MSMEs not only to thrive but achieve success in the global arena. As such, we look forward to …

As the number of ships operating on zero or near-zero emission fuels grows, there is need for more maritime personnel and seafarers to be trained and equipped to operate these ships safely and efficiently. To address the current competencies gap, the Maritime and Port Authority of Singapore (MPA) will establish an industry-supported facility for the training of the global maritime workforce in handling and operating vessels using clean marine fuels. With hundreds of crew change conducted daily h…

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.....