Country's 6 leading airports see near doubling of foreign transit traffic in a year Major Indian airports are increasingly becoming global connecting hubs, with international transit traffic for Indian carriers nearly doubling over the past year.  The number of international passengers on Indian carriers passing through six major Indian airports — Delhi, Mumbai, Kolkata, Chennai, Bengaluru, and Hyderabad — to reach their final destinations increased by 97.09 per cent year-on-year (Y-o-Y) to…

The IPO of Awfis Space Solutions includes a fresh share sale of Rs 128 crore and an offer-for-sale of up to 1,22,95,699 equity shares amounting to Rs 490.72 crore. The initial public offering (IPO) of Awfis Space Solutions will open for bidding on Wednesday, May 22. Price band for the issue has been fixed at 364-383 apiece and bids can be made for a minimum of 39 equity shares and its multiples thereafter. The three-day bidding for the issue closes on Monday, May 27 as the Indian stock markets o…

Pichai said Google is committed to bringing AI tools to India in line with global markets, emphasizing that the future of AI will require more involvement from social scientists and philosophers India's potential to shape the future of artificial intelligence (AI) is significant, with the country “well positioned" to influence global AI development, said Sundar Pichai, chief executive of Google and Alphabet, at a roundtable during Google’s annual conference, Google I/O.....

With 13 inclusions and 3 exclusions, the net stock count post-rejig will be 146 for India in the MSCI Standard/EM Index India will see upwards of $2.5 billion in passive FPI flows after a rejig of MSCI indices this month, with the country’s representation in the MSCI EM Index set to inch closer to 19 per cent from 18.3 per cent currently....

“Western countries feel that they have influenced this world for the last 200 years. How do you expect someone, who has been in that position, to give up those old habits so easily?” said Jaishankar. External Affairs Minister S Jaishankar slammed the western media for its ‘negative coverage’ of the Lok Sabha elections 2024. He said that they want to influence India because that’s their habit and that’s something they have been doing for years.....

Before the covid-19 pandemic, India’s real estate business was in a slump. Many developers defaulted and quit the market. Larger developers, meanwhile, gained share. Godrej Properties, whose shares shot up 239% in the last five years, was among them. Here’s the inside story. Sometime before the initial public offering (IPO) of Godrej Properties Ltd, in 2009, Pirojsha Godrej, who was then its executive director, met up with the executives of a prominent Mumbai-based investment banking firm. …

In April, India’s domestic passenger vehicle sales saw a marginal 1.3% year-on-year increase to 3,35,629 units, with the utility vehicle segment experiencing significant growth of over 21% y-o-y to 1,79,329 units Total passenger vehicles (PVs) sales in the domestic market grew marginally by 1.3 per cent year-on-year (y-o-y) in April to 3,35,629 units as compared with 3,31,278 units in the corresponding month last year, the Society of Indian Automobile Manufacturers (SIAM) reported on Tuesday..…

Cambodia Angkor Air, the national flag carrier of Cambodia, announced on Tuesday the launch of the first-ever direct flight services between Cambodia and India, commencing on June 16. These flights will operate four times weekly – Monday, Wednesday, Friday, and Sunday, connecting Phnom Penh and New Delhi..... More https://bit.ly/3wrvTej Via khmertimeskh.com

Ethiopian Cargo & Logistics Services in the latest expansion move, has added two new freighter destinations in India including Ahmedabad in Gujarat. Hyderabad and Ahmedabad are added to Ethiopian Cargo’s freighter network from May 11, said Ethiopian Cargo & Logistics Services in a LinkedIn post on May 10. ....Cont

As of the end of March 2024, the Reserve Bank of India held a total of 822 metric tonnes of gold, with 408 metric tonnes held within the country India's gold reserve, held domestically, surged by 40 per cent between March 2019 and March 2024, latest data released by the Reserve Bank of India showed. Total gold reserves saw an uptick of 34 per cent during the same period..... More https://bit.ly/4dGz3eY Via business-standard.com

Airline to resume daily operations to Lagos offering unrivalled connectivity for Nigerian travellers Emirates will resume services to Nigeria from 1 October 2024, operating a daily service between Lagos and Dubai, and offering customers more choice and connectivity from Nigeria’s largest city to, and through, Dubai. The service will be operated using a Boeing 777-300ER. EK783 will depart Dubai at 0945hrs, arriving in Lagos at 1520hrs; the return flight EK784 will leave Lagos at 1730hrs and arr…

Dubai’s Roads and Transport Authority (RTA) has recently unveiled an initiative aimed at extending the lifespan of commercial vehicles owned by companies and entities registered in Dubai. The initial phase of this initiative will solely focus on light vehicles operating in the car rental business within the emirate. Abdulla Yousef Al Ali, CEO of Licensing Agency, RTA, commented: “This service would be optional, not mandatory, for companies operating in the car rental business in Dubai. It is…

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of The Executive Council of Dubai, and President of the Mohammed Bin Rashid Space Centre (MBRSC), has officially approved the MBZ-SAT for launch no earlier than October 2024, marking a significant milestone in the UAE's space endeavours.Sheikh Hamdan was briefed on the latest updates and upcoming phases of MBZ-SAT, the most advanced satellite in the region, and the latest addition to the UAE Satellite …

Under the patronage of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al-Saud, Crown Prince, Prime Minister, and Chairman of SDAIA’s Board of Directors, the Saudi Data & AI Authority (SDAIA) is hosting the Global AI Summit (GAIN) in its third edition from September 10 to 12, 2024, at King Abdulaziz International Convention Center (KAICC) in Riyadh. His Excellency Dr. Abdullah bin Sharaf Alghamdi, President of the Saudi Data & AI Authority (SDAIA), extended his sincere appreciation…

Mark Dyer, Associate Director - Destination Development at Red Sea Global For those who don’t know me, I joined Red Sea Global (RSG) as Accessibility Director around eight weeks ago. I am also a paraplegic. You might have seen me in my wheelchair at the bottom of a ramp, waiting for a friendly passerby to give me a push. Being an independent wheelchair user is challenging, but since I arrived in Riyadh, I have been struck by the locals’ warmth and generosity of spirit. I’ve noticed the sam…

- Shipment, produced by Fertiglobe, delivered to Mitsui for use in clean-power generation, underscoring ADNOC’s efforts to support its customers to decarbonize- Landmark achievement builds on previous demonstration cargos delivered by ADNOC as it accelerates development of global low-carbon hydrogen and ammonia value chains - ADNOC aims to capture 5% of the global low-carbon hydrogen market by 2030 in support of the UAE’s National Hydrogen Strategy ADNOC has delivered the world’s first ce…

Blockdaemon Greenlit by ADGM, Paving the Way for UAE Expansion Strategy   Blockdaemon, the leading institutional-grade blockchain infrastructure company, announced today it is further expanding its presence in the UAE, including setting up an office and establishing an entity in Abu Dhabi under Registration Authority of Abu Dhabi Global Market (ADGM).   The expansion to operate and provide Web3 infrastructure solutions in the UAE will include making available its node and validator infrastruct…

- Cargo flows expected to increase by around two million tonnes per annum, boosting trade, economic growth and opportunity in Europe   - Links between the Black, North and Adriatic seas with mainland Europe set to be transformed - Investments mark 20 years of DP World in Romania, with the business predicting it will become an increasingly important hub for European trade DP World opens three major new sites in Romania, providing a significant boost to the country’s growing status as a key hub…

Collaboration to provide DIFC community with access to Cisco Networking Academy courses aimed at accelerating professional development and driving digital transformation in the financial services industry “Mastering networking, cybersecurity, IoT, cloud tech, programming, and automation is crucial in finance. Our collaboration with Cisco’s Networking Academy provides professionals with a diverse skill set, enhancing their ability to navigate the ever-evolving tech landscape in financial serv…

- The Council of Tall Buildings and Urban Habitat (CTBUH) has recognised Uptown Tower for its innovative design, contribution to the advancement of tall buildings, and prioritising of sustainability and wellbeing - CTBUH has awarded DMCC with three industry leading Awards of Excellence – for Best Tall Building by Height (300 and above), Best Tall Building by Region (Middle East) and Construction - CTBUH is one of the leading international bodies in the field of skyscrapers and sustainable urba…

Cambodia and the United Arab Emirates (UAE) have vowed to expedite the implementation of a comprehensive economic partnership agreement (CEPA), which will expand markets for goods and services, increase investment and create jobs in both nations. The commitment was made during a May 13 meeting between Cambodian Minister of Foreign Affairs and International Cooperation Sok Chenda Sophea and Obaid Saeed Obaid Bintaresh Ald-haheri, UAE ambassador to Cambodia, who is resident in Bangkok, Thailand...…

A business roundtable between Ho Chi Minh City and New South Wales state was held in Sydney on May 14, attracting representatives of over 150 Australian enterprises and investors. Chairman of the HCM City People’s Committee Phan Van Mai introduced the potential and advantages of the southern largest economic hub of Vietnam, along with cooperation opportunities for Australian enterprises.....

The Intellectual Property Office of the Philippines (IPOPHL) and the French Patent and Trademarks Office (INPI) have formalized their commitment to carry out their cooperation agreement after recently signing a joint work plan that outlines capacity-building and information exchange activities aimed for completion by 2025.  IPOPHL Director General Rowel S. Barba and INPI Chief Executive Officer Pascal Faure signed the work plan last April 25 at the sidelines of the ASEAN Working Group on IP Coo…

The issue has been in the spotlight since last month when Bloomberg reported that Malaysia was in early discussions with tycoons on opening a casino in Johor’s Forest City. Malaysian Prime Minister Anwar Ibrahim has said no to a second casino in the country, his latest denial on the matter following recent reports that the government was allegedly mulling over one. "Affirmative no," Mr Anwar said at the Qatar Economic Forum on Tuesday (May 14), when asked if his administration would allow a se…

The Temasek-backed data centre operator has tied up with Vietnam’s tech unicorn VNG to expand data centre projects in the country Singapore-headquartered ST Telemedia Global Data Centres (STT GDC) has joined hands with Vietnam’s tech firm VNG Corp to develop, construct and operate data centre projects in Ho Chi Minh City.   Under the joint-venture partnership announced on Wednesday (May 15), a new facility named STT VNG Ho Chi Minh City 2 will be established in the southern metropolis of Ho…

The eight Singapore depository receipts (SDRs) linked to Thailand’s blue-chip companies have not been doing as well as hoped, but analysts say things may change with positive signs on the economic front. The Thai market is “at an inflection point after underperforming in 2023 and so far in 2024”, said Mr Thilan Wickramasinghe, head of research (Singapore) at Maybank Securities. ....

Cambodia Angkor Air, the national flag carrier of Cambodia, announced on Tuesday the launch of the first-ever direct flight services between Cambodia and India, commencing on June 16. These flights will operate four times weekly – Monday, Wednesday, Friday, and Sunday, connecting Phnom Penh and New Delhi..... More https://bit.ly/3wrvTej Via khmertimeskh.com

Vietnam’s industrial real estate industry is expected to continue its strong growth trajectory due to foreign direct investment (FDI) inflows benefiting from tax incentives. According to the General Statistics Office (GSO), the total FDI disbursed in Vietnam in the first four months of this year reached an estimated 6.28 billion USD, up 7.4 per cent year on year, the highest four-month amount in the past five years.....

The Department of Transportation (DOTr) will start next year the bidding process for a private partner for the ferry system that will traverse Manila Bay, Pasig River, Marikina River and Laguna de Bay. Transport Assistant Secretary Leonel de Velez said the government intends to bid out in 2025 the development of the ferry system being eyed as a public-private partnership (PPP) project.....

The property market is on the road to recovery and will see a further improvement this year on the back of an improved economic outlook, says Housing and Local Government Minister Nga Kor Ming. Citing a report from The Star, Nga also said the rising number of expatriates entering the country will be a boost for the property market outlook.....