India

2024-03-02

Investments to modernize, double capacity of Piombino rail mill site Sajjan Jindal-led JSW Steel, on Friday, announced that it is going to invest €143 million, or about ₹1,282 crore, to help relaunch its Italian steel mill in Piombino. The company in a press release said that its subsidiary, JSW Steel Italy SRL, has signed a Memorandum of Understanding (MoU) with the Italian authorities to relaunch the site....


Proceeds of crime were allegedly being routed through bank accounts maintained with the lender by entities engaged in illegal activities. India's Financial Intelligence Unit has imposed a fine of Rs 5.49 crore penalty on Paytm Payments Bank for money laundering. Proceeds of crime were allegedly being routed through bank accounts maintained with the lender by entities engaged in illegal activities.....


February 2024 witnessed passenger vehicles and two-wheelers stay in the positive growth lane, while commercial vehicles and tractors reported a decline in volumes. In the passenger vehicle (PV) segment, most of the players such as Maruti, Hyundai, Tata, Mahindra, Toyota and Honda, among others, saw their wholesale numbers grow on the back robust demand for their new models.....


2024-03-01

The management wants employees to start work from office for two days in a week from March before transitioning to a three-day work-from-office setup Following in the footsteps of its peers, Tech Mahindra Ltd has urged its employees to work from the office for at least three days a week starting 1 April.....


The group’s Ebitda, or earnings before interest, tax, depreciation and amortization rose more than 60% to $2.3 billion in the third quarter ended December 31 with a bulk of that coming from the transport, infrastructure and energy units of the conglomerate. Adani Group's cash pile has improved and the conglomerate sees no refinancing risks in the near term as it took more steps to shore up its finances after the Hindenburg bombshell last year....


Tata group to set up two units, one by CG Power The Union Cabinet on Thursday approved proposals to set up three semi-conductor units with an investment of ₹1.26-lakh crore. Two of the units will be set up in Gujarat while third one will be in Assam. With this, India will have four units, with supply from first unit is expected by year end....


2024-02-29

Among the business names this year, it is notable that industrialist Gautam Adani made it into the top 10 and beat out fellow billionaire Mukesh Ambani on the ladder by one position. The Indian Express released its list of 'Top 100 Most Influential Indians of 2024' today on February 29, capturing personalities across the political, business, entertainment and sports spectrums, who influence the country....


Over 150 aircrafts carrying nearly 2000 guests to arrive at the city for Anant Ambani’s pre-wedding festivities The pre-wedding celebrations of Anant Ambani, the youngest son of Reliance Industries chairman Mukesh Ambani, will see Jamnagar airport receiving over 2000 guests who will be landing in 150-odd aircraft in just five days. As one-third of these aircraft are private jets flying from foreign locations, authorities have set up special immigration facilities for foreign guests arriving f…


2024-02-28

Marriott International saw double-digit improvement in turnover, crossing ₹9,000 crore in 2023, and expects continued growth this year. The company plans to open 12 hotels this year in India. Price rationalization is expected as competition increases in the market. Despite concerns about a global economic slowdown across several Western countries, strong domestic growth, infrastructure development, and an increasing aspiration for travel are expected to drive a decade-long boom in hospitality …


Czech carmaker Skoda Auto will begin assembling electric vehicles in India latest by 2027, a senior company official said on Tuesday. Skoda Auto, the renowned Czech carmaker, has unveiled ambitious plans to commence the assembly of electric vehicles (EVs) in India by the latest 2027, as disclosed by a senior company official on Tuesday. Petr Janeba, Skoda Auto India Brand Director, revealed that the company is currently conducting tests on the electric SUV Enyaq, considering its potential launch…


Middle East

2024-03-02

The vast industrial city, known as MODON, situated in the industrial patch of land lined by warehouses and factories in Dammam has a new factory in town.  The well-established German WIKA group inaugurated their newest plant on Feb. 29, with the local state-of-the-art production facilities meant to streamline every step of their journey forward.....


2024-03-02

dnata, a leading global air and travel services provider, announced the successful integration of autonomous drones into its cargo operations in Dubai, UAE.dnata’s strategic initiative has significantly enhanced operational efficiencies, delivering remarkable benefits for airline customers at both Dubai International (DXB) and Dubai World Central (DWC) airports. Key results include 20% reduction in processing times on the rack inventories and over 99% accuracy in shipment tracking.With a stron…


2024-03-02

In a world where technological advancement and evolving threats keep arising, the World Police Summit 2024 stands as a pivotal platform where global law enforcement comes to meet. Brought to you by the esteemed Dubai Police, this unparalleled event gathers prestigious forces including the FBI, NYPD, INTERPOL, Australian Federal Police, Korean National Police Agency and the Metropolitan Police from over 138 countries. Whether you're into policing tech, cybersecurity, commercial security, or ro…


2024-03-02

Emirates SkyCargo, one of the largest international cargo airlines, has hosted discussions on the hot topics in logistics and world trade and the challenges faced by the global supply chains, on the sidelines of the 13th World Trade Organisation Ministerial Conference (WTO MC13), hosted by the UAE Ministry of Economy and Abu Dhabi Department of Economic Development (ADDED) in the UAE capital. The event has brought together senior leaders across industries to provide a macro-view of the challeng…


2024-03-02

The UITP MENA Congress and Exhibition concluded with a plenary session titled "Shaping Our Cities with Urban Planning." The session focused on the impact of urban planning on improving public transport accessibility and efficiency in cityscapes. Several strategies were explored during the session to transform urban landscapes into vibrant, sustainable, and well-connected hubs. The speakers focused on the concept of transport-oriented development and the implementation of "20 minutes cities" as m…


The Cambodian private sector is optimistic about the benefits of the recently enacted Cambodia-United Arab Emirates (UAE) Comprehensive Economic Partnership Agreement (CAM-UAE CEPA) and the accompanying Cambodia-UAE Business and Investment Forum, held in Dubai, the UAE’s commercial hub. The initiatives are expected to significantly enhance trade, real estate and tourism cooperation, accelerating progress between the two countries....


"I am passionate about the future of strategic philanthropy, and its opportunity to create the structures and platforms needed to nurture a new generation of philanthropist and philanthropic capital, which can partner with government and business capital to rapidly scale solutions to our most urgent global challenges." For someone we declared to be "one of the region's thought leaders" when we first featured him in Entrepreneur Middle East in July 2014, Crescent Enterprises CEO Badr Jafar …


Among the AI tools Uktob offers, there is one that is named Faheem, an AI-powered personal assistant that offers a range of productivity tools and services for day-to-day tasks. In the conversations that revolve around the impact of artificial intelligence (AI) on businesses worldwide, one aspect that most stakeholders would agree upon is its ability to reduce mundane and repetitive tasks. But while AI has seeped into innumerable elements of the business ecosystem, the use of this technology is …


2024-03-01

- Adobe Experience Cloud will enable guests to plan all aspects of their trip through Riyadh Air’s digital properties, integrating with travel, tourism and hospitality brands to provide a seamless booking experience - Riyadh Air, as the digitally native airline, will be able to deliver the highest levels of personalization, powered by generative AI in Adobe Experience Cloud and Adobe Firefly - Adobe will provide the digital foundation enabling Riyadh Air to support the Kingdom’s National Avi…


2024-03-01

His Highness issues directives to launch the global edition of ‘App Olympics’ to attract top smart app innovators from across the world Empowering the technology sector is an integral part of efforts to achieve the goal of the Dubai Economic Agenda D33 to establish Dubai as one of the world’s top three cities Hamdan bin Mohammed “The world’s confidence in Dubai as a hub for innovative digital ideas serves as powerful motivation to strengthen our efforts to position the emirate as a glo…


South East Asia

The Cambodian private sector is optimistic about the benefits of the recently enacted Cambodia-United Arab Emirates (UAE) Comprehensive Economic Partnership Agreement (CAM-UAE CEPA) and the accompanying Cambodia-UAE Business and Investment Forum, held in Dubai, the UAE’s commercial hub. The initiatives are expected to significantly enhance trade, real estate and tourism cooperation, accelerating progress between the two countries....


2024-03-02

The Tan Son Nhat International Airport in Ho Chi Minh City served 24,000 flights and over 3.8 million passengers during the Tet (Lunar New Year) peak period from January 26 to February 24.Among them, there were 8,232 international flights and 16,270 domestic flights. Domestic passengers also made up the majority with 2.43 million visitors and the rest were foreigners.....


2024-03-02

FACTORY ACTIVITY in the Philippines expanded for the sixth straight month in February amid a strong increase in new orders that boosted hiring, but shortages in raw materials continued to affect production, S&P Global said on Friday. The S&P Global Philippines Manufacturing Purchasing Managers’ Index (PMI) rose to 51.0 in February from 50.9 in January. A PMI reading above the 50 mark denotes improvement in operating conditions compared to the preceding month, while a reading below 50 signals d…


With the Johor-Singapore Special Economic Zone on the horizon, the Malaysian state wants to be a key regional investment destination, tapping into synergies with neighbouring Singapore, similar to how China’s Shenzhen leveraged the economic progress of its neighbour Hong Kong It must first address the issue of worsening congestion and improve connectivity in and around the southern corridor, say experts The state government, backed by Malaysia’s king, has a master plan to link up the Johor…


THAILAND plans to more than double the annual capacity at its main Suvarnabhumi Airport in Bangkok to 150 million passengers, Prime Minister Srettha Thavisin said on Friday (Mar 1). The airport, which currently handles 60 million passengers, will also add a third runway, allowing the airport to handle 90 flights per hour, up from 60 flights per hour, by October this year, he said.....


Singapore banks face tough times amid slowing global growth and lower margins, but analysts say their recent acquisitions will give them a leg up. High interest rates over recent years have proved a bonanza for DBS, OCBC and UOB, but those heady days are drawing to a close with the United States seemingly ready to start cutting in 2024....


2024-03-01

The Bank of Thailand is scheduled to open the application period for virtual banking licences this month, attracting several business operators. The central bank submitted the draft for virtual banking regulations to the Finance Ministry, with the rules slated for publication in the Royal Gazette.... https://www.bangkokpost.com/business/general/2750793/virtual-bank-applications-to-open-in-march


Indonesia's first electric vehicle battery cell factory will begin operations in April, with most of its output exported to South Korea and India.P T Hyundai LG Indonesia (HLI) Green Power, Indonesia’s first electric vehicle (EV) battery factory, will start mass production in April, the Investment Ministry/Investment Coordinating Board (BKPM) announced on Wednesday.....https://www.thejakartapost.com/business/2024/02/29/indonesias-first-ev-battery-cell-factory-to-begin-production-in-april.html.


2024-03-01

Sending cheer across the travel and tourism industry in the Kingdom, Cambodia has been crowned the leading cultural destination in Asia by the World Travel Awards for 2023, earlier this week. Making the jubilant announcement on Wednesday on his official Telegram channel, Minister for Tourism Sok Soken welcomed the honour and referred to the country as an ‘absolute must-visit for all avid cultural enthusiasts’.......


2024-03-01

This is the best time for flag carrier Philippine Airlines (PAL) to sell a portion of the company, as investors are attracted to buy into it with travel and tourism picking up momentum, according to analysts. In a text message to The STAR, Philstocks Financial Inc. assistant research manager Claire Alviar said PAL could use the resurgence of the aviation industry to raise fresh funds for future projects......