ICICI Bank faced a recent technical glitch that exposed the credit card details of thousands of its customers Executive director Sandeep Batra said while instances of outages and errors could occur in any bank, ICICI Bank had the ability to take quick recovery and corrective action ICICI Bank Ltd's improved performance in the March quarter was underscored by a metric that’s becoming crucial to the stability of lenders in the modern era, particularly in the context of the regulatory crackdown o…

Pension funds thrive as equity returns continued to show robust growth at 33.13 per cent Aided by roaring equity markets, National Pension System (NPS) assets under management (AUM) recorded a robust 27.85 per cent y-o-y growth as of April 20 at ₹ 11.73 lakh crore (₹ 9.17 lakh crore), latest PFRDA data showed.....

Ho says Taiwan has sufficient capacity that can be allocated to India, which has designing capability and market demand Taiwan is keen to collaborate with India and help it become a leader in the semiconductor space, Jason Ho, Chairman of the Taiwan Chamber of Commerce in India, said, asserting that the Taiwanese companies have the supply chain for things that the Indian market needs.   Manufacturing semiconductors – used in electric and hybrid cars, drones, and communication devices – is f…

"India, a bordering neighbour to China, has seen a similar threat from TikTok and taken similar action, is going to be potentially relevant in some of the court filings to show that this is not simply some unique feature of America's viewpoint on China,” Carr said in an interaction with ET. US Federal Communications Commission (FCC) commissioner Brendan Carr said that India’s swift and preemptive action against TikTok could be a feature that plays out in American courts as the ByteDance-o…

The CFS issued a warning against the sale and purchase of MDH's Madras Curry Powder and Sambhar Masala, as well as Everest's Fish Curry Masala MDH, an Indian spice king, has strongly denied allegations of pesticide contamination following reports from food safety regulators in Hong Kong and Singapore. The controversy erupted when the Center for Food Safety (CFS) in Hong Kong detected ethylene oxide—a prohibited pesticide—in various pre-packaged spice products from MDH and another Indian bran…

Nearly 77 out of 100 proposed in first phase ready and commissioned...

Net fresher addition in Q4 for the company stood at 3,096 freshers. For the entire FY24, HCLTech added 12,141 freshers. The company's total headcount in Q4 was 227,481 IT services giant HCLTech on Friday during its Q4 earnings call said that the company will follow a similar hiring plan as last year, and has set up a target of adding more than 10,000 freshers in FY25..... More https://bit.ly/4aQehaF Via business-standard.com

The carmaker’s Japanese parent, Suzuki, is working on technology that would make hybrid vehicles affordable in India Maruti is also “seriously” considering bringing Suzuki’s plug-in hybrids to India, although not immediately Maruti Suzuki India Ltd’s Japanese parent, Suzuki Motor Co., is working on developing cost-effective technologies that would make the otherwise exorbitantly expensive hybrid cars affordable for buyers in India....

Matter deliberated at IRDAI - Industry meet, Bima Manthan The Insurance Regulatory and Development Authority of India (IRDAI) held deliberations on pricing and other modalities of the much awaited all in one affordable insurance product, Bima Vistar, with the captains of industry at the Two-day Bima Manthan concluded here on Friday.....

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…

This winter, ideal weather conditions in Tabuk nurtured a flourishing display of olive blossoms. The Ministry of Environment, Water and Agriculture's regional branch reports that the peak bloom occurred in April, a positive sign for a potentially abundant and high-quality olive harvest this year.The flowering stage is crucial for olive production, according to the ministry. By monitoring blossom health, experts can predict crop yield. Favorable weather, combined with proper tree care, significan…

NEOM, the sustainable development taking shape in northwest Saudi Arabia, hosted representatives from 52 global, regional and local financial institutions in the developing region. While in NEOM, guests witnessed ongoing progress across key projects such as THE LINE, Oxagon, Trojena, and Sindalah, the luxury island destination set to open soon. Financial institutions’ delegates gained a firsthand look at the entire NEOM project and its investment opportunities and participated in focus ses…

Najran's mud houses have a captivating charm, accentuated by the beauty of their doors that act as a portal into the region's rich heritage of folk architecture. The art of decorating wooden doors has become synonymous with Najran itself. As the first impression for any visitor, homeowners take great pride in adorning their doors with intricate patterns and designs.Doors are typically constructed from two or three panels of Sidr or Athel wood. The choice of wood, along with the complexity of the…

Cooperation framework agreement paves way for new downstream partnerships.  Aramco, one of the world’s leading integrated energy and chemicals companies, is exploring the formation of a joint venture in the Saudi Aramco Jubail Refinery Company (“SASREF”) with Chinese partner Rongsheng Petrochemical Co. Ltd. (“Rongsheng”) and significant investments in the Saudi and Chinese petrochemical sectors, in partnership with Rongsheng. The Company recently signed a cooperation framework agreeme…

Dubai has once more showcased its appeal as an international maritime hub in the 2024 Leading Maritime Cities (LMC) report, securing the top spot in the Arab world and ranking 11th globally, moving up two places compared to the previous report in 2022. Dubai’s impressive showing as a maritime centre received due recognition in an international report launched recently in Singapore by DNV and Menon Economics, companies specialising in evaluating maritime capitals worldwide. According to the rep…

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, reviewed the strategic plan of the Dubai Aviation Engineering Projects and approved designs for the new passenger terminal at Al Maktoum International Airport, which will be the largest in the world when fully operational. Set to be built at a cost of AED128 billion, the new terminal will ultimately enable the airport to handle a passenger capacity of 260 million annually.The appr…

Shortlisted companies and individuals will be vetted by the Entrepreneur Middle East team and then the judging committee, chaired by Mastercard and industry leaders. Nominations are now open for the 2024 edition of the Mastercard Women SME Leaders Awards in partnership with Entrepreneur Middle East, an annual event that aims to empower women-owned and run small and medium enterprises (SMEs) across Eastern Europe, Middle East, and Africa. Women executives or business owners who have their head…

Startups in Egypt have started to gain momentum with several ventures securing funding to boost expansion efforts to the Kingdom.  Following a period of startup funding stagnation, Egyptian founders have made their way back to the regional venture capital space with a flurry of investment deals and expansion strategies already in place....

Chinese food delivery giant Meituan is seeking to hire staff for at least eight positions based in Riyadh, in a sign it may be looking to Saudi Arabia to further its global expansion ambitions, according to Reuters....

Archer Aviation Inc., a leader in the development of electric vertical takeoff and landing (eVTOL) aircraft, announced the signing of a framework agreement in Abu Dhabi today at the DRIFTx mobility event, held at the Yas Marina Circuit showcasing the latest in advanced urban mobility, driving discussions, collaboration, and innovation across the sector. This agreement covers multi-hundred-million dollar investments to accelerate Archer’s planned commercial air taxi operations in the UAE, slate…

Thai Airways (THAI) has announced the sale of its entire fleet of Boeing 747-400 aircraft, marking the end of an era when its 18 aircraft once operated long-haul routes. The disposal of the aircraft, once known as “Queen of the Skies", was attributed to their ageing and in line with the airline's route strategy adjustments..... More https://bit.ly/3WcXLgC Via nationthailand.com

According to fDi Intelligence magazine, Cambodia leads amongst 10 emerging markets to attract Foreign Direct Investment in 2024. According to projections by fDi Intelligence magazine, Cambodia is poised to emerge as the top destination for foreign direct investment (FDI) in 2024, leading a group of nine other emerging markets including Philippines, Kenya, Iraq, Namibia, Kazakhstan, Azerbaijan, Morocco, Serbia, and India....

Local rubber tire producer, Đà Nẵng Rubber joint-stock Corporation and  Oceanside One Trading company from Brazil have inked an agreement on rubber tire distribution contract in Brazil and the US market, promising an increase in export turn-over from US$70 million to US$150 million per year. The contract, which was signed in the central city on April 28 on the occasion of the 35th anniversary of Việt Nam-Brazil diplomatic ties, and the on-going Brazil-Việt Nam Football Festival, marked…

The highly anticipated 10th Philippine Property and Investment Exhibition (PPIE), the Philippines’ largest international property and investment show, is set to return to Dubai on May 11-12, 2024. This year's annual event will take place at The Bristol Hotel, Deira, Dubai, aiming to spotlight the Philippines’ robust economic performance, positioning the country as a premier investment hub in the Association of Southeast Asian Nations (ASEAN) region. In 2023, the Philippines achieved remarkab…

Malaysian King Sultan Ibrahim Iskandar’s immense passion for automobiles has thrust him back into the spotlight after he recently became the first owner of the world’s most expensive car Hongqi L5, a luxury limousine made in China. The ultra-luxury sedan in retro-modern design joins the new king’s stable of over 300 luxury cars, including a Bugatti Veyron and a replica wooden car inspired by The Flintstones cartoon. The Business Times takes a closer look at six of the stand-out cars in …

Singtel on April 29 forecast non-cash impairment provisions of $3.1 billion for the second half of financial year 2024 which would lead to the telecom giant reporting a net loss for the period. The company also warned that it would report a lower net profit for the full year ended March 31, 2024.....

The digital economy’s annual contribution to the country’s economic output decreased as its growth slowed down in 2023, the Philippine Statistics Authority (PSA) reported on Thursday. Preliminary data from the statistics agency showed the digital economy’s share to the country’s gross domestic product (GDP) went down to 8.4% last year from 8.6% in 2022, making it the lowest share to GDP since 2018....... More https://bit.ly/4ddH0YB Via bworldonline.com

SINGAPORE’S growth should strengthen to “around its potential rate” for 2024 as a whole, the Monetary Authority of Singapore (MAS) said on Friday (Apr 26), in a slight upgrade of its earlier expectations. The negative output gap – where the economy’s output is less than what it can produce – is therefore expected to narrow and close by year-end, the central bank added in its half-yearly macroeconomic review.....

The Prime Minister has committed to resuming direct flights to Thailand. But it’s not a promise he will be able to deliver on anytime soon The Prime Minister has promised to resume direct flights between Thailand and New Zealand, but neither Air NZ or Thai Airways have any plans under way to make that happen.....

A TOP Vietnamese property tycoon sentenced to death in a US$27 billion fraud case has launched an appeal against her conviction, state media said on Friday (Apr 26). Truong My Lan, chair of major developer Van Thinh Phat, was found guilty this month of swindling cash from Saigon Commercial Bank (SCB) over a decade.....