Livspace secures $70 million funding led by TPG Growth & Goldman Sachs
NEW DELHI: Livspace, an online home interior and renovation platform, on Wednesday said it has raised USD 70 million from investors, including TPG Growth and Goldman Sachs, to fund its expansion plan. “Livspace… has raised USD 70 million in Series C funding. The round was led by TPG Growth and Goldman Sachs, a global investment […]
Nokia, Altran introduce joint solution to streamline train maintenance for railways
NEW DELHI: Nokia and Altran, a global leader in Engineering and R&D services (ER&D), are launching a jointly developed solution to optimize and streamline the maintenance of rolling stock for railway operators. This solution combines Nokia’s strengths in Internet of Things (IoT), networking and analytics with Altran’s strength in application development, analytics and system integration […]
India again extends deadline to impose high import duties on 29 USA products till November 2
NEW DELHI: The government of India , for the second time, has extended the deadline for the imposition of higher customs duties on 29 products, including almond, walnut and pulses, imported from theUnited States of America (USA), till November 2. In June, India decided to impose retaliatory tariffs from August 4. But it was extended […]
Saudi Arabia to auction detained tycoon’s real estate assets: Sources
By: Marwa Rashad | Stephen Kalin RIYADH: Saudi Arabia will auction real estate owned by indebted billionaire Maan al-Sanea and his company starting next month to help repay billions of riyals due to creditors, sources familiar with the matter told Reuters. Sanea, ranked by Forbes in 2007 as one of the world’s 100 richest people, […]
Air Tanzania to soon resume direct flights to India
By Shah Imran Ahmed CAIRO: Air Tanzania will soon resume services to India with direct flights to Mumbai from Tanzanian city Dar Es Salaam, an official said on Monday. Air India and Air Tanzania had direct flights between the two countries but the operations were stopped in mid-1990s due to commercial reasons. “Air Tanzania has […]
Germany rolls out world’s first hydrogen train
BREMERVORDE: Germany on Monday rolled out the world’s first hydrogen-powered train, signalling the start of a push to challenge the might of polluting diesel trains with costlier but more eco-friendly technology. Two bright blue Coradia iLint trains, built by French TGV-maker Alstom, began running a 100-kilometre route between the towns and cities of Cuxhaven, Bremerhaven, […]
Pakistan, UK reach agreement on repatriation of ‘looted wealth’
ISLAMABAD: Pakistan and the UK signed a justice and accountability agreement on Monday, nearly a month after Imran Khan, who has vowed to bring back money stolen by corrupt Pakistani politicians and taken to Britain, assumed power. Law Minister Dr Farogh Naseem and British Home Secretary Sajid Javid jointly announced a justice and accountability agreement […]
Indian billionaire buys GBP 2 million mansion for his daughter
By Aditi Khanna LONDON:An unnamed Indian billionaire has acquired a 2-billion pound mansion in the Scottish countryside as a home for his daughter who is set to begin her course at the University of St Andrews in Scotland next week, according to a media report Saturday. The Eden Mansion, which was built in 1860 as […]
Barclays and UK government launch house-building fund of $1.3 billion
By: David Milliken LONDON: Britain’s government and Barclays launched a fund on Wednesday to provide up to 1 billion pounds ($1.3 billion) in finance to small house-builders in an attempt to tackle England’s housing shortage. Barclays said it would offer 875 million pounds of finance while Homes England, a government agency created at the start […]
South Korea imposes tougher taxes on properties to curb price surge
By: Cynthia Kim SEOUL: South Korea on Thursday laid out plans to impose tougher taxes on property ownership to rein in owners of expensive homes blamed for stoking a speculative housing bubble in the main regions across the nation. The proposed 0.5% to 2 % ownership tax that would kick in on properties valued over […]
China’s property investment weakens in August
By: Yawen Chen | Kevin Yao BEIJING: China’s real estate investment moderated in August on slower construction and home sales, as authorities’ tight controls on the sector continued to take out speculative heat. Real estate has been one of the few bright spots on China’s investment front, partly due to robust sales in smaller cities […]
Turkey rules property sales, rental agreements must be in lira
By: Daren Butler | Humeyra Pamuk ISTANBUL: Turkey ruled on Thursday that property sales, rental contracts and leasing transactions must be made in lira from now on, halting the use of foreign currencies for such deals in a fresh step to support the ailing local currency. All business deals inside the country should be conducted […]
How China’s plan to develop rental housing backfired
By: Yawen Chen | Shu Zhang | John Ruwitch BEIJING | HANGZHOU: When President Xi Jinping of China vowed to increase the supply of rental housing last year, millions of young Chinese expected to find homes they would finally be able to afford. But the government’s initiative has had an unintended effect: a surge of […]
China promises retaliation if USA imposes more tariffs
BEIJING:China on Monday promised retaliation if United States of America (USA) President Donald Trump escalates their tariff battle, raising the risk Beijing might target operations of American companies as it runs out of imports for penalties. The threat came after Trump said Friday he was considering extending penalties to an additional USD 267 billion of […]
First 2+2 Dialogue consequential and a strategic milestone, says US official
By Lalit K Jha WASHINGTON: The first India-US 2+2 Dialogue in New Delhi was “consequential and a strategic milestone”, a senior Trump administration official said Monday, asserting that the decisions taken during the talks is generational in nature and propelled the bilateral relationship to a new level. External Affairs Minister Sushma Swaraj and Defence Minister […]
Pakistan plans to renegotiate agreements reached under China’s Belt and Road Initiative
ISLAMABAD: Pakistan Prime Minister Imran Khan’s newly elected government plans to renegotiate the agreements reached under China’s ambitious Belt and Road Initiative (BRI) as it “unfairly benefits Chinese companies”, according to a media report. The projects concerned are part of the multi-billion China-Pakistan Economic Corridor (CPEC) plan – the most ambitious part of the BRI, […]