Fidelity raises Lenskart's valuation to $6.1 billion as the eyewear startup prepares to go public with a $1 billion raise and a target valuation of $10 billion US financial services major Fidelity has reportedly increased its estimated valuation of eyewear startup Lenskart to $6.1 billion, according to its latest monthly portfolio disclosure. The move comes as Lenskart gears up for an initial public offering (IPO), with plans to raise up to $1 billion at a targeted valuation of $10 billion. The …

In many cases, individuals either skipped the mandatory Schedule VDA in their income tax returns or wrongly claimed deductions and preferential tax rates, violating key provisions under the Income Tax Act, 1961. India’s top tax authority is turning up the heat on crypto evaders. The Central Board of Direct Taxes (CBDT) has launched a sweeping crackdown on individuals and entities suspected of laundering unaccounted income and evading taxes through undisclosed or underreported cryptocurrency tr…

Varrier highlighted that in the last 20 years, India’s GDP has only grown on the back of technology, and the adoption of the internet India is well on its way to becoming the AI office of the world, said Rajesh Varrier, President - Global Operations and CMD Cognizant India, in a conversation with businessline. He noted that India can add value across the AI spectrum—from R&D and innovation to enterprise solutions.....

An FAA audit revealed multiple issues in production practices and cited “gaps” in the company’s safety culture, including a disconnect between management and frontline employees and widespread fear of retaliation for reporting safety concerns. Multiple whistleblowers have raised serious safety concerns about Boeing’s 787 Dreamliner, triggering investigations by the Federal Aviation Administration (FAA) into the aircraft’s production and assembly processes. The allegations — ranging f…

UltraTech Cement, Ambuja Cement and ACC top the table with a capex plan of ₹9,000 crore each in FY26 Even as the revival in private capex remains a major concern, the top nine cement companies are expected to spend ₹30,500 core in this fiscal on expectations of sharp revival in demand on back of government spending on infrastructure projects....

Adani Airport Holdings Ltd. will likely be spun off and listed by March 2027 Billionaire Gautam Adani’s group is gearing up to list its airports unit by 2027, as part of an ambitious growth plan that entails investing $100 billion across businesses over the next few years.....

  ·          Adani plans Airport Unit IPO by 2027, hastens $100 billion capex https://bit.ly/4n0WBQi ·          ‘India looking at possibility of grounding Boeing 787-8 pending initial enquiry’ https://bit.ly/3HziXs1 ·          National Securities Depository to likely launch ₹3,400 crore IPO in July https://bit.ly/3FzXPBi ·          Jaguar Land Rover cancels Jaguar Type 00 event in Mumbai after AI tragedy https://bit.ly/44cLMD8 ·          N…

Coal India sets FY26 asset monetisation target at Rs 6,264 crore after achieving Rs 8,462 crore in FY25. With six new mines planned and Rs 16,000 crore capex, including Rs 5,622 crore for transport infra, the firm aims to boost coal output to meet the 875 MT production target.

Korean firm makes more phones across most segments and has higher volumes: S&P report Samsung’s global volume share of final assembling of smartphones in India might not get the same focus as that of Apple Inc because of the latter’s aggressive export strategy and higher average selling price leading to higher value.    But in terms of volume, the reality is that Samsung is much higher than its US rival. A research by S&P Global shows that Samsung’s share of global final assembly volume…

Group to bid for UP electricity discoms to expand network The Adani group intends to fund its $20 billion annual capital expenditure (capex) primarily through internal accruals and debt, according to top executives in the conglomerate.   The Ahmedabad-based group is also planning to bid for electricity-distribution companies in Uttar Pradesh to expand its network in power transmission and distribution as part of its broader strategy to invest in infrastructure....   More https://bit.ly/3FJIw…

The Public Authority for Special Economic Zones and Free Zones (Opaz) has officially announced a tender for the construction of an administrative and commercial complex within Al Dhahirah Integrated Economic Zone, marking the fourth package of this major development project. The authority has called upon experienced Omani-Saudi consortiums to participate through the "Esnad" electronic tendering platform, setting 26 June as the deadline for purchasing tender documents. A site visit is scheduled f…

In a candid conversation with Saudi Gazette, Omar Malabarey, newly appointed Country General Manager for Becton Dickinson in Saudi Arabia, shares his vision for the company’s role in the Kingdom’s fast-evolving healthcare sector. With decades of experience across public and private healthcare, Malabarey discusses BD’s commitment to local talent development, digital transformation, and strategic partnerships aligned with Vision 2030.Q: Congratulations on your appointment as General Manager …

The Kingdom of Saudi Arabia and the Kingdom of the Netherlands signed several agreements and memoranda of understanding (MoUs) between entities from the environment, water and agriculture sectors, along with Saudi and Dutch companies and entities. The deals include investments exceeding SAR428 million to develop and localize advanced technologies in environmental, water and agricultural fields. During his June 10–12 visit to the Kingdom of the Netherlands, Vice Minister of Environment, Water a…

UAE’s National Committee on Sustainable Development Goals (SDGs) discussed national efforts to achieve objectives of the Sustainable Development agenda 2030, outlining the third phase of the national data plan, mechanisms to enhance integration across sectors to ensure sustainability goals, and reviewed UAE's progress indicators in implementing development goals. This took place during a committee meeting chaired by His Excellency Abdulla Nasser Lootah, Assistant Minister of Cabinet Affairs fo…

The road show introduced projects at Mohammed bin Rashid Al Maktoum Solar Park HE Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA), affirmed that the recent roadshow by DEWA’s delegation to the People's Republic of China reflects Dubai's unwavering commitment to achieving the objectives of the Dubai Clean Energy Strategy 2050 and the Dubai Net-Zero Carbon Emissions Strategy 2050, which aim to transform the emirate into a global hub for sustainability and the gr…

The Saudi Ports Authority (Mawani) has announced the addition of the new Med Express (MEDEX) shipping service by CMA CGM to Jeddah Islamic Port, enhancing the port’s competitive advantage, facilitating global trade, expanding business opportunities, and supporting national exports. The MEDEX service will connect Jeddah Islamic Port with 12 key regional and international ports, including Abu Dhabi and Jebel Ali (UAE), Karachi (Pakistan), Mundra and Nhava Sheva (India), Colombo (Sri Lanka), Pira…

- stc group enhanced operational and technological preparedness in Madinah through a comprehensive suite of advanced digital solutions. - A testament to the group’s dedication to creating meaningful impact at every touchpoint of the Hajj journey. As pilgrims arrive in Madinah following the completion of their sacred rituals, stc group has enhanced its operational and technological preparedness to deliver a seamless, reliable, and secure communication experience. Backed by a robust digital infr…

The Research and Development (R&D) Centre of Dubai Electricity and Water Authority (DEWA) has been accredited by the Emirates International Accreditation Centre (EIAC), in line with the requirements of the ISO/IEC 17025:2017 standard. This standard, developed by the International Organisation for Standardization (ISO) and the International Electrotechnical Commission (IEC), establishes the criteria for the competence of testing and calibration laboratories. The accreditation covers various aspec…

“We are committed to supporting and empowering members of the business councils to benefit from promising investment opportunities, thereby enhancing the private sector’s ability to grow and expand both locally and globally.” Maha Al Gergawi Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has successfully organised a workshop in collaboration with the Ministry of Economy to familiarise members of the Business Councils operating under …

- Agency expects mergers and acquisitions to accelerate - Several smaller insurers are already in talks with larger rivals Saudi Arabia’s insurance sector is headed for a wave of consolidation as tougher capital rules and fierce price competition squeeze smaller players, Fitch Ratings said in a new report....

- Emirates will launch a complimentary coach service for Economy customers flying to and from Clark International Airport starting today - The new shuttle service connects Trinoma in Quezon City withClark International Airport in Pampanga as pick-up and drop-off points In a move to further enhance the travel experience for its Filipino passengers, Emirates will be introducing a new coach service exclusively for Economy Class customers flying to and from Clark International Airport (CRK) starting…

Australian budget carrier Jetstar plans to enter the Philippine market in yet another signal of foreign airlines’ growing interest to launch in the country. The Civil Aeronautics Board (CAB) said it is set to hear on June 26 a petition filed by Jetstar Airways to mount flights to Perth and Brisbane from Manila and Cebu, respectively.....

Viet Nam welcomed 1.53 million foreign visitors in May, the highest number for this month over the past ten years, according to the General Statistics Office. In the first five months of the year, the number of foreign arrivals reached 9.2 million, up 21 percent compared to the same period last year. Of the above figure, more than 7.4 million foreign visitors travelled to Viet Nam by air, followed by 1.2 million by road and 0.6 million by sea. Russia was the fastest-growing tourist source market…

DBS Group Holdings became the first listed company in Singapore to top US$100 billion (S$128.6 billion) in market value, helped by a weaker US dollar that amplified gains on the local stock market. South-east Asia’s top lender closed 0.8 per cent higher at $45.49 in Singapore trading on June 9, giving it a market capitalisation of $129.36 billion (US$100.6 billion), extending its gains in 2025 to more than 4 per cent.... More https://bit.ly/3HscYoO Via straitstimes.com

The Monetary Authority of Singapore (MAS) clarified the applicable scope for its Digital Token Service Providers (DTSPs) regime. MAS issued on 30 May 2025 its response to feedback received  on the Consultation Paper on Proposed Regulatory Approach, Regulations, Notices and Guidelines for DTSPs under the Financial Services and Markets Act 2022. We would like to provide clarification on two issues. Scope of New Regulation From 30 June 2025, DTSPs providing services solely to customers outside …

- The Mekong Express launches with two sailings per week between Cai Mep and Can Tho, cutting transit time by almost 70%, from 48 hours to 15 hours - The new service offers a faster, more cost-effective and less carbon-intensive transport solution for cargo owners, connecting two critical economic centres in southern Vietnam DP World, in partnership with VIMC Container Lines Joint Stock Company (VIMC Lines) has launched the Mekong Express, a new domestic sea-river transport route connecting the…

Bangkok’s role in Southeast Asia elevated as a regional hub with new links to Vietnam and Cambodia Emirates, the world’s largest international airline, has expanded its East Asia footprint to 23 points with the launch of two new routes via Bangkok - Da Nang, Vietnam and Siem Reap, Cambodia. These launches mark a significant milestone in the airline’s broader strategy to deepen connectivity to the region during a period of rapid growth and innovation in travel and trade. The inaugural fligh…

The cars - VF6 and VF7 EVs - will be CKD units assembled at VinFast’s Thoothukudi plant in Tamil Nadu VinFast, the largest passenger vehicle OEM in Vietnam, is all set to launch its VF6 and VF7 EVs in India as early as this month with bookings to commence soon, the company’s Asia CEO Pham Sanh Chau said at a media event in Hanoi, Vietnam. The company’s parent Vingroup is also in talks with various Indian states to bring other businesses such as electric buses, green energy and hospitalit…

288 bilateral business meetings arranged during the trade mission “The launch of our new office in Bangkok further strengthens Dubai’s global connectivity and reaffirms our commitment to supporting businesses in expanding their international footprints.” H.E. Mohammad Ali Rashed Lootah - Dubai's non-oil trade with Thailand exceeded AED 23.8 billion in 2024, achieving substantial YoY growth of 23.3%.   - The number of Thai companies registered as active members of Dubai Chamber of Commerce…

- DMCC has announced growth of 13% in companies from Singapore joining its international business district - Figures revealed during first-ever roadshow to Singapore and mean DMCC accounts for over half of all Singaporean businesses in UAE - Strategic partnership with Hawksford announced to support inbound investment and international expansion through Dubai - Event for over 100 Singaporean business leaders reinforces growing UAE–Singapore trade corridor amid shifting global trade dynamics DMC…