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)....

RIL share price target: Motilal Oswal ascribed an equity valuation of Rs 810 per share to RJio and Rs 1,593 per share to Reliance Retail and Rs 37 per share towards the new energy business. It suggested a target price of Rs 3,245 on RIL. Reliance Industries Ltd (RIL) reported largely inline March quarter results, with a beat on Ebitda. Among segments, Retail Ebitda was a miss on lower revenue, but it was offset by better O2C on higher utilisation and improved refining. Jio and Upstream numbers …

Indian frequent travellers to benefit from the multi-year visa The EU has eased Schengen visa rules for Indians allowing frequent travellers multi-entry visa for a period up to five years.   “The EU takes another step towards enhancing people-to-people contact with India. New Schengen visa regime gives Indian frequent travellers access to multi-year visa (up to 5 years.) Europe delivers on the partnership,” said Herve Delphin, EU Ambassador to India, in a social media post on X. ....

The firstever Hindi radio broadcast has started in Kuwait, the Indian Embassy in Kuwait said  The Indian Embassy in Kuwait noted that this step taken will further strengthen the ties between the two nations. In a post on X, the Indian Embassy in Kuwait stated, "Start of first ever Hindi Radio broadcast in Kuwait! Embassy of India expresses appreciation to @MOInformation for starting a Hindi programme on Kuwait Radio on FM 93.3 and AM 96.3 on every Sunday (8.30-9 pm) starting 21 April 2024, a st…

Agilitas will distribute Lotto products through online channels, standalone brand outlets and shop-in-shops with retail partners. Lotto stores will roll out in India in early 2025. Agilitas will sell footwear, apparel, accessories, and sports equipment under the brand. Agilitas Sports has acquired long-term licence rights to design, manufacture, and retail Italian sports brand Lotto in India, Australia, and South Africa from owner WHP Global....

This move comes as Tesla is expected to start importing its cars to India and make an investment in the country.  Tata Motors plans to import its Jaguar Land Rover (JLR) luxury electric cars under a new government policy that lowers import taxes for companies agreeing to set up local manufacturing, two Indian government sources said. Tesla is also expected to start importing its cars to India and make an investment in the country, Reuters has reported, but Tata's plan if realised would make it…

Axiata Group Bhd's Sri Lankan unit Dialog Axiata PLC will acquire rival telco Airtel Lanka from Bharti Airtel Limited in exchange for 10.355% of the total issued shares in Dialog. According to a joint statement, the Telecommunications Regulatory Commission of Sri Lanka (TRCSL) has granted its approval for the proposed merger between Dialog Axiata, the operator of Sri Lanka’s leading quad-play connectivity provider, and Airtel Lanka, which offers 5G-ready 4G network across the country.....

Launched as Dailyhunt Premium, this subscription-based offering will provide users access to premium content from international publishers in over 60 languages  VerSe Innovation, India’s biggest local language technology platform, announced its acquisition of Magzter, a cross-platform, self-service, global digital newsstand with a library of over 8,500 premium magazines and newspapers. VerSe runs new aggregator platform DailyHunt and short video platform Josh..... More https://bit.ly/4aFN62c…

The first shipment of Jazan mangoes, weighing 24 tons, was sent yesterday to the Hashemite Kingdom of Jordan through the Cooperative Society for Agricultural Marketing (Alrowia), in accordance with the agreement concluded with the Jordanian side several months ago, which entails exporting produce from the Jazan region, including mangoes, papayas, and watermelons. Alrowia, in partnership with Jazan Development and Investment Company (JAZADCO), ensures that the mangoes are cleaned, sterilized, and…

Under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, the 22nd Arab Media Forum, the region’s largest media thought leadership event, will be held in Dubai from 27 to 29 May 2024. Part of the Mohammed Bin Rashid Global Initiatives, the event aims to foster a deeper understanding of the region’s media landscape and its future and forge a new vision for the sector’s growth that supports the aspirations of …

To all our valued customers, This week has been one of the toughest for Emirates operationally, as record storms hit the United Arab Emirates. I would like to offer our most sincere apologies to every customer who has had their travel plans disrupted during this time. On Tuesday 16 April, the UAE experienced its highest rainfall in 75 years. Lashing storm winds and rain disrupted activity across the cities. Our 24/7 hub in Dubai remained open, with flight movements reduced for safety, but floode…

Aramco, one of the world’s leading integrated energy and chemicals companies, has entered into discussions with Hengli Group Co., Ltd. (“Hengli Group”) regarding the potential acquisition of a 10% stake in Hengli Petrochemical Co., Ltd. (“Hengli Petrochemical”), subject to due diligence and required regulatory clearances. The companies today signed a Memorandum of Understanding (MoU) regarding the proposed transaction, which aligns with Aramco’s strategy to expand its downstream pres…

The Public Investment Fund (PIF) and Saudi Telecommunications Company (stc Group) announced the signing of definitive agreements whereby PIF will acquire a 51% stake in Telecommunication Towers Company Limited (TAWAL) from stc Group. TAWAL is the largest telecommunications infrastructure company in Saudi Arabia and one of the largest in the region, with an enterprise value of $5.85 billion per the agreement. Subsequently, PIF and stc Group will consolidate TAWAL and Golden Lattice Investment Com…

Dubai’s Roads and Transport Authority (RTA) has embarked on a collaboration with Dubai Maritime Authority (DMA) at the Ports, Customs and Free Zone Corporation (PCFC) to enhance RTA’s 360 marine transport services. This initiative involves integrating RTA's services with DMA's system to enable the public to avail of services such as short-term berth rentals that allow private boats to dock temporarily at maritime stations without overnight stays. This partnership was formalised through a Mem…

After the heaviest rainfall the UAE experienced in 75 years Dubai Airports is making remarkable strides in restoring and normalising operations at Dubai International Airport (DXB). Paul Griffiths, CEO of Dubai Airports said since yesterday, ahead of its recovery schedule, DXB returned to its normal flight schedule and is back to operating around 1,400 flight movements a day. “With roads in and around the airport 100% clear of water accumulation, our manpower, logistics and facilities are oper…

- Saudi Aramco's VC arm to invest in Indian startups - It will look to invest in more than a dozen startups The venture capital (VC) arm of Saudi Aramco is building an India team and scouting for early-stage deals in the country, two people aware of the plans said, in a move to leverage India’s startup story and widen the fund’s global reach.....

“Attracting these types of multinational companies is an achievement added to Dubai’s accomplishments as the emirate continues to develop a comprehensive business ecosystem and enhance growth, innovation, and creativity.” “These efforts embody the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to enhance the emirate’s leadership as a global capital of the digital economy.” Omar Sultan Al Olama The multin…

In a new crowning, Riyad Bank achieved the third place in the top 50 brands that in the field of social responsibility in the private sector according to the classification issued by the National Center for Responsibility and Studies in partnership with Forbes Middle East magazine. This achievement confirms the bank’s efforts in the field of social responsibility demonstrated in its program “Bukra” which is based on four main pillars: economy, knowledge, society, and environment. For the …

MANILA moved up five spots in the latest ranking of financial centers based on their green finance performance, according to London-based think tank Z/Yen Group. In the 13th edition of the Global Green Finance Index (GGFI), Manila ranked 69th out of 96 financial centers. This was better than its 74th ranking in the previous edition...... More https://bit.ly/3Ubz9lG Via bworldonline.com

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'......

PLANS are afoot to help more Singapore food and beverage (F&B) businesses expand overseas. Food exports have grown at a rate of more than 11 per cent each year since 2020, and they can be found in more than 120 markets worldwide, said Minister of State for Trade and Industry Low Yen Ling, citing figures from Singapore Economic Development Board’s Manufacturing Survey in 2023......

Sales of motor vehicles in the country rose by 12.7 percent in the first quarter from a year ago, supported by strong consumer demand and improved supply. A joint report released by the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and the Truck Manufacturers Association yesterday showed a total of 109,606 vehicles were sold in the January to March period this year, higher than the 97,284 units during the same period in 2023....

South-east Asia’s fifth-largest economy will also offer tax breaks, subsidies and visa exemption fees to draw global tech companies With a 13 per cent market share in the global chip industry, Malaysia is set to up the ante by constructing the region’s largest integrated circuit (IC) design park. This initiative is part of the country’s strategy to advance from back-end semiconductor manufacturing to high-value front-end design work. Additionally, Malaysia’s sovereign wealth fund, Khazan…

Singapore’s shipping hub is well-placed to lead the world in digital transformation, decarbonisation and adoption of green technologies for the industry, said classification society DNV’s maritime chief executive officer Knut Orbeck-Nilssen. Initiatives on low-carbon fuels, electrification of harbour vessels and plans to establish the world’s longest green and digital shipping corridor with Rotterdam are among factors that will consolidate Singapore’s position as one of the most attracti…

LinkedIn, a professional networking platform, unveiled its list of the top 15 companies renowned for fostering career development in Indonesia for the year 2024. Leading the pack is state-owned Bank Mandiri, recognized as the best workplace for career advancement in the country.....

Axiata Group Bhd's Sri Lankan unit Dialog Axiata PLC will acquire rival telco Airtel Lanka from Bharti Airtel Limited in exchange for 10.355% of the total issued shares in Dialog. According to a joint statement, the Telecommunications Regulatory Commission of Sri Lanka (TRCSL) has granted its approval for the proposed merger between Dialog Axiata, the operator of Sri Lanka’s leading quad-play connectivity provider, and Airtel Lanka, which offers 5G-ready 4G network across the country.....

Buoyed up by the recent spike in the two-way trade, the Royal Government of Cambodia (RGC) and the Australian Government recently reaffirmed their commitment to strengthen cooperation in key areas including investment, tourism, and agriculture while tackling the development of the Mekong-Australia Partnership (MAP). The commitment from both sides was made during the Fourth Senior Official’s Talks (4th SOTs) between Prak Nguon Hong, Secretary of State of the Ministry of Foreign Affairs and Inte…

The three-day gathering serves as a pivotal event in the beauty sector, showcasing cutting-edge solutions and technologies from leading nations, and offering a platform for businesses to extend their networks, forge new partnerships and seek international collaborative ventures. The Beautycare Expo 2024 kicked off on Thursday in Hà Nội, featuring over 250 booths from more than 15 countries and territories, hosted at the International Exhibition Centre (I.C.E) within the Vietnam-Soviet Friend…