The News As You Need
India
- Firm expands into Middle East and North Africa region - New division enables the company to tap into new growth opportunities and offer a range of services to potential customers “We are delighted to welcome Mahindra Insurance Brokers to DIFC. The firm joins over 125 registered insurers, reinsurers, captives, MGAs and insurance-related entities in the Centre. Our enabling world-class laws and regulations are on par with other global insurance and reinsurance hubs, and will provide Mahindra w…
Private sector companies announced the setting up of factories and other new projects worth Rs 4.1 trillion in the three months ended September, a 42 per cent rise from the year-ago period, according to data from project tracker Centre for Monitoring Indian Economy (CMIE)....
A review conducted by the RBI revealed significant deficiencies in sourcing and appraisal, valuation, due diligence, end-use monitoring, auction transparency, Loan-to-Value (LTV) monitoring, and risk-weight application. The Reserve Bank of India (RBI) has issued a circular highlighting irregularity in the practices of granting of loans against pledge of gold ornaments and jewellery. A review conducted by the RBI revealed significant deficiencies in sourcing and appraisal, valuation, due diligenc…
The funds are earmarked for significant expansions, including setting up a new 3,000 MW solar cell and module manufacturing facility and expanding existing capabilities Solar photovoltaic (PV) module manufacturer Vikram Solar has filed its draft red herring prospectus (DRHP) with SEBI to raise up to ₹1,500 crore through an initial public offering (IPO).....
BHEL struggled to get power equipment contracts for about three years before FY24. Now, it has a full order book for boilers and engineering, procurement and construction contracts and faces a capacity constraint. The government’s renewed focus on setting up thermal power projects in the country and a surge in demand for coal-fuelled power generation have revived the fortunes of BHEL Ltd, India’s largest power equipment manufacturer, two people familiar with the matter said. More https://bi…
Insurers exploring ways to foot the financial burdern Life insurance business is all set to enter a new phase from Tuesday, as the new norms on surrender value brought in by the Insurance Regulatory and Development Authority of India (IRDAI) will come into effect from October 1, 2024....
The international pavilion of India at the 26th edition of the Water, Energy, Technology and Environment Exhibition (WETEX) will host 29 leading companies keen to highlighting their latest innovations in renewable energy, water treatment, sustainability and more. Dubai Electricity and Water Authority (DEWA) organises WETEX annually under the directives of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and the patronage of HH Sheikh Ahme…
In an era where digitisation and Gen AI are set to transform industries, B-schools have a crucial role to play in bridging the skills gap and empowering graduates to succeed. How are they preparing for this challenge?...
In cases such as Byju's, Future Retail, Smaash and Go First, RPs have found themselves under fire from lenders. Charges vary from wrongful classification of creditors and collusion with previous managements, to mismanagement of daily affairs....
Until now only domestic airlines’ staff could carry out tasks such as manning aircraft or frisking passengers in secondary checks. Foreign airlines can now contract airport operators for security functions, opening up competition and reducing service disruption risks.....
Middle East
The Ministry of Tourism announced in a press release today that Saudi Arabia saw a notable 8.2% growth in inbound visitor spending during the first half of 2024 compared to the same period in 2023, reaching around SAR92.6 billion. The Kingdom also recorded a surplus in the travel account of around SAR41.6 billion. The growth in spending by inbound visitors to Saudi Arabia reflects the significant progress made by the tourism sector. According to UN Tourism, Saudi Arabia led G20 countries in inte…
Shadwi coffee in Al-Baha region is one of the finest types of coffee in the world. It is produced in Al-Baha, and yields an annual production of more than 12 tons. On the occasion of the International Coffee Day, which falls on October 1 every year, lovers of the Shadwi coffee aroma are even prouder of it and show support for coffee farmers and producers. Shadwi coffee farmers farm it in the upper and lower Shada mountains, between the governorates of Qilwah and Al-Makhwah, a mountain range in t…
- Firm expands into Middle East and North Africa region - New division enables the company to tap into new growth opportunities and offer a range of services to potential customers “We are delighted to welcome Mahindra Insurance Brokers to DIFC. The firm joins over 125 registered insurers, reinsurers, captives, MGAs and insurance-related entities in the Centre. Our enabling world-class laws and regulations are on par with other global insurance and reinsurance hubs, and will provide Mahindra w…
- DMCC and CV VC sign collaboration agreement to pioneer regional Web3 ecosystem growth - Agreement signed during CV Summit, Switzerland’s premier Web3 and blockchain event, which gathered thousands of entrepreneurs and industry leaders in Zug, Switzerland - DMCC and CV VC will bridge two of the world’s most vibrant blockchain ecosystems, providing cross-border ecosystem development through joint educational drives, events and workspace exchanges DMCC and CV VC, one of Switzerland’s leadin…
Daily service will reinstate connectivity and enhance premium travel options from Lagos to Dubai and beyond Emirates, the world’s largest international airline, has resumed passenger services to Lagos, Nigeria, with a daily service. The official delegation onboard was led by Adil Al Ghaith, Senior Vice President Commercial Operations, Gulf, Middle East and Central Asia; David Broz, Senior Vice President of Aeropolitical and Airline Industry Affairs and Sami Aqil Abdullah, Senior Vice President…
The Communications, Space and Technology Commission (CST) has announced the launch of the Tech Innovation Challenge 2024 in collaboration with the National Technology Development Program (NTDP), Huawei and the Artificial Intelligence Governance Association. This initiative aims to motivate the communications, space and technology sectors growth by developing innovative solutions, raising awareness of emerging technologies and artificial intelligence (AI) among stakeholders and professionals, …
The chamber hosted a briefing session today at its headquarters for members of the trade mission’s delegation The mission programme includes bilateral business meetings between Dubai-based companies and their counterparts in Serbia and Türkiye to explore opportunities for cooperation, expansion, and new trade and investment agreements Dubai International Chamber, one of the three chambers operating under the umbrella of Dubai Chambers, has announced the completion of preparations for its upco…
Collection features tote and duffle bags made from upcycled Emirates Team New Zealand sails In support of Emirates Team New Zealand gearing up to defend its champion’s title at the America’s Cup, Emirates Official Store has launched Neo, a limited-edition tote bag collection that gives new life to sails used at previous world series, regattas and America’s Cup competitions dating back all the way to 2011. The Neo collection will feature up to 80 barrel and tote bags made from retired …
Dubai Future Foundation (DFF) and the UAE Ministry of Economy today announced the launch of the Dubai Intellectual Property Hub (DIPH), the UAE’s first centralised intellectual property (IP) and intangible assets (IA) hub aimed at empowering innovators, artists, entrepreneurs, researchers, academics, and startups. The platform was announced during the “IP2024: Glimpse on the Future of IP” event at the Museum of the Future, where a Memorandum of Understanding was signed between the UAE Min…
The Ritz-Carlton, AMAALA will be the fourth property operated by Marriott International in the Red Sea Global portfolio. Red Sea Global (RSG), the developer behind the regenerative tourism destinations AMAALA and The Red Sea, announced that it has signed a strategic agreement with Marriott International, Inc. to open The Ritz-Carlton, AMAALA. The signing marks the fourth collaboration between the organisations, following the recent openings of The St. Regis Red Sea Resort and Nujuma, a Ritz-C…
South East Asia
The Information Technology and Business Process Association of the Philippines (IBPAP) reported on Wednesday that 8 percent of its surveyed members reported a headcount reduction due to artificial intelligence (AI), but said it is optimistic that the number will not rise in the coming years. At the 16th IT-Business Process Management (BPM) Summit in Parañaque Wednesday, IBPAP president Jack Madrid said there are more companies that reported headcount gains, or 13 percent of IBPAP members accoun…
Meta’s President of Global Affairs Nick Clegg says it is one of the the two significant new mile stones in Meta’s commitment to Việt Nam. The Quest 3S line uses a similar technology to its predecessor model Quest 3, but will be cheaper and lighter, he said at the Innovate Vietnam 2024 conference in Hà Nội on Tuesday.....
It will support the increase in the country’s air cargo handling capacity from 3 million tonnes per annum to 5.4 million tonnes SINGAPORE will develop a second Airport Logistics Park (ALPS2) from 2030 onwards to boost cargo handling capacity and help cement the country’s role as a regional logistics hub.... More https://bit.ly/4erVPHn Via businesstimes.com
Singapore’s manufacturing output increased 21.0% in August 2024 on a year-on-year basis. Excluding biomedical manufacturing, output increased 27.5%. On a threemonth moving average basis, manufacturing output increased 5.7% in August 2024, compared to a year ago. On a seasonally adjusted month-on-month basis, manufacturing output increased 6.7%. Excluding biomedical manufacturing, output increased 11.0%. Highlights On a year-on-year basis, Singapore’s manufacturing output increased 21.0% in A…
Ha Noi will build a hi-biotechnology park in Bac Tu Liem district following the Government's approval of the project. Covering an area of 199.03 hectares, it is managed by the Ha Noi Municipal People's Committee. The park will engage in high-tech activities in accordance with the international trends and Viet Nam's policies and orientations for high-tech development, with a strong focus on biotechnology. The park will provide an open space, an ecological park that combines the functions of scien…
Delay to full enforcement follows complaints from Singapore motorists about the lengthy delays in the application and issuance of the permits Over the past few weeks, thousands of drivers of foreign-registered vehicles – mostly from Singapore – have expressed frustration and anger over the muddled process to obtain a Vehicle Entry Permit (VEP) that they need when driving into Malaysia... More https://bit.ly/4eK8wNh Via businesstimes.com
Collectors and enthusiasts will be wowed by a showcase featuring the world’s most exclusive and internationally acclaimed lineup of rare liquor products to enhance their collections. A selection of over 100 premium and rare fine liquors from 66 prestigious brands including Bowmore, The Singleton, The Macallan and The Glenlivet are available for purchase through the WOWS online portal. Exclusive masterclasses offer guests privileged access and expert insights into a curated selection of fin…
Việt Nam and Thailand have been implementing action plans as part of the enhanced strategic partnership between the two countries, with a target of boosting bilateral trade turnover to US$25 billion. Vice Minister of Foreign Affairs Nguyễn Minh Hằng stated at the opening ceremony of the Meet Thailand conference in the central city that the two countries have strengthened connections in the supply chain and business exchanges as well as development policy links between Việt Nam’s ‘Gre…
Foreign Affairs Minister Maris Sangiampongsa has reaffirmed Thailand’s focus on the sufficiency economy philosophy and the fight against transnational crime as key strategies for sustainable development during the United Nations Summit of the Future in New York. The summit, which adopted the Pact for the Future as its outcome, seeks to tackle global challenges and accelerate progress towards achieving the UN's Sustainable Development Goals (SDGs) by 2030. In his address on “Multilateral Solu…
The Philippines has leapfrogged 47 places over the past decade in the Global Innovation Index (GII) published by the World Intellectual Property Office (WIPO). The country ranked 53rd this year from 100th place in the 2014 edition of the report, making the country one of the fastest 10-year risers along with China, Türkiye, India and Vietnam. The Philippines also advanced three notches from 56th place last year. The WIPO noted that the Philippines positioned itself in the top three among the lo…