Istanbul: Turkey’s sovereign wealth fund has acquired a 10 per cent stake in the nation’s bourse from the European Bank for Reconstruction and Development, it said in an emailed statement on Tuesday. The acquisition brings its stake in Borsa Istanbul to 90.6 per cent, the fund said. The deal puts an end to the EBRD’s […]

New Delhi: Chinese smartphone maker OPPO aims to manufacture 100 million handsets in India by the end of 2020, a top company executive said on Tuesday, adding that the year would also see an aggressive retail push to let more people experience flagship devices. The brand registered a growth of 92.3 per cent in Q3 […]

Egypt signed off on Uber Technologies Inc.’s acquisition of ride-hailing peer Careem Inc. after setting price caps and other measures designed to keep the local market competitive. The decision was made after studying data on 270 million trips as well as Egyptian and international precedents, the Egyptian Competition Authority said Sunday in a statement. Uber […]

Mumbai: (Bloomberg): For many Indian tycoons, 2019 turned woeful as lenders — empowered by the nation’s recent bankruptcy law and desperate to clean up soured debt from their books — started seizing assets of delinquent firms or dragged them into insolvency. Indian banks wrote off a record $39 billion of loans in the 18 months […]

Dubai: Strengthening Dubai’s position as the leading cruise hub of the region, the emirate welcomed six international cruise liners on 29th December 2019, via the Mina Rashid cruise terminal. The terminal dealt with over 60,000 cruise passengers, as they handled all the processes for the smooth arrival of TUI Cruises’ Mein Schiff 5, Pullmantur Cruises’ […]