Food portfolio

- A + A KUALA LUMPUR (Aug 15): Capital A Bhd’s airasia Super App has launched an intercity food delivery service, leveraging on its low-cost carrier services to fly delicacies from Penang to Klang Valley. With a fee of RM5.99 per order, all fresh meals will be air-flown in strict hygienic conditions, with the last order at 5pm one day before the delivery day, airasia said in a statement. Users can order up to 30 days in advance, it said. The unique feature among food delivery services allows airasia to champion local merchants who can now tap on airasia’s ecosystem to reach a much wider audience, said airasia food regional head Tan Suan Sear. The service is currently available on Wednesday, with plans to add frequency and to include other states in Malaysia, moving forward. “We have successfully launched the same intercity food delivery service in Thailand, where popular delicacies from Phuket are flown into Bangkok to great fanfare and interest of the diners,” … [Read more...] about airasia launches food delivery via flight from Penang to Klang Valley

- A + A SYDNEY (Aug 15): Australia's Prime Minister Anthony Albanese has sought legal advice following reports that his predecessor Scott Morrison was secretly appointed to key ministerial roles during the Covid-19 pandemic, duplicating some portfolios. Ministers are traditionally sworn in at a ceremony by the governor-general, but that did not happen in the case of the additional roles, and Albanese said it was unprecedented that key cabinet members were not aware of the appointments. "This was a centralisation of power by the former Prime Minister," Albanese, who has sought advice from the solicitor-general, Australia's second law officer, told reporters on Monday. "This isn't some, you know, local footy club," he added. "This is a government of Australia, where the people of Australia were kept in the dark as to what the ministerial arrangements were." Morrison, who was prime minister from 2018 to 2022, did not respond to a request for comment. In an emailed … [Read more...] about Australia’s PM says former PM Morrison took on secret ministerial roles during Covid

A version of this story first appeared in CNN Business' Before the Bell newsletter. Not a subscriber? You can sign up right here . You can listen to an audio version of the newsletter by clicking the same link. London (CNN Business) The most powerful business lobby in the United States is not a fan of the landmark heath care and climate package President Joe Biden is expected to shortly sign into law. "Business Roundtable opposes the 'Inflation Reduction Act,' which, among other things, includes tax provisions that would undermine American economic growth and competitiveness," the group said in a statement shortly before the measure was passed by the Senate. But analyses by Wall Street institutions published over the past week found that the impact on corporate earnings would likely be limited, though some sectors could be more affected than others. Breaking it down: The two provisions in focus are a 15% minimum corporate tax and a 1% tax on … [Read more...] about New business taxes are coming. Wall Street isn’t worried

State-owned Bharat Petroleum Corporation Ltd (BPCL) will invest Rs 1.4 lakh crore in petrochemicals, city gas and clean energy in the next five years as it looks to non-fuel businesses for growth. BPCL, the nation's second-biggest oil refining and fuel marketing company, is "recalibrating its strategies to leverage emerging opportunities while mitigating risks," its chairman and managing director Arun Kumar Singh said in the firm's latest annual report. As countries across the world opt for cleaner, carbon-free fuel, oil companies are looking at businesses to de-risk their mainstay hydrocarbon operations. Gas is being seen as a transition fuel as electric mobility and hydrogen pick pace. "The company has firmed up plans to diversify and expand in adjacent and alternative businesses to create additional revenue streams and provide a hedge against any possible future decline in liquid fossil-fuel business," he said. BPCL, which owns 20,217 out of 83,685 petrol pumps in the … [Read more...] about BPCL to spend Rs 1.4 lakh crore on petchem, gas business

Bimal Dayal, MD & CEO, Indus Towers (Image: LinkedIn/Bimal-Dayal) Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Indus Towers Ltd on July 28 announced the resignation of Bimal Dayal, who was serving as the company's managing director and chief executive officer since 2016. Dayal has decided to "pursue opportunities outside Indus Towers", the telecom infrastructure service provider said in a regulatory filing. Dayal's successor was yet to be named. The company said its board, in a meeting held on July 27, "took note" of Dayal's resignation and a succession plan will be communicated in due course. "His last working day with the company is under discussion," it added. Dayal's resignation marks an end to his 12-year tenure with Indus Towers. This includes a six-year stint as the chief operating officer, followed by a … [Read more...] about Indus Towers MD Bimal Dayal resigns

Top Performers July started off by ending on a positive note with crude oil prices facing a slippage. The banking stocks also played an important role in leading the markets up. The second week of July saw the Indian share markets lose their gains due to fears that the US Federal Reserve would step forward with more aggressive rate hikes because of the soaring inflation. It was also projected that the Reserve Bank of India would hike rates due to strong domestic inflation. The third week of July saw Indian share markets ending positively. The week cruised through the volatility faced by the markets due to weak global cues. Furthermore, investor sentiments were lifted as FIIs seemed to return to the Indian markets. In the final week of July, Indian share markets ended on a strong positive note. This was due to index heavyweight stocks being rallied and the fact that investors were relieved by Jerome Powell’s comments on recession. Smallcases are model portfolios of stocks/ETFs … [Read more...] about Top Performing smallcases of July 2022

The first week of July saw the Indian share markets ending on a strong note. This was due to crude prices softening which in turn helped ease the worries of inflation. Crude oil prices fell and saw a slippage of under US$ 100 per barrel as the fear of a potential global economic recession loomed, stirring concerns for oil demand. The banking stocks were another reason for the Benchmark indices ending on a positive note. The second week of July saw the Indian share markets lose their gains due to fears that the US Federal Reserve would step forward with more aggressive rate hikes due to the soaring inflation. Prospects of more rate hikes by the Reserve Bank of India were also projected due to strong domestic inflation. The third week of July saw Indian share markets ending positively. Although the week ended positively, some volatility was seen in the markets due to weak global cues. Furthermore, investor sentiments were lifted as FIIs seemed to return to the Indian markets. This was … [Read more...] about Most Bought smallcases for July 2022

(Representative Image) Following a slew of recent fund raises by venture capital (VC) firms targeting the Indian market, Kotak Investment Advisors on August 2 launched Kotak India Alternate Allocation Fund, a Fund of Funds (FoF) with a target to raise Rs 1,500 crore, including a greenshoe option of Rs 750 crore. The FoF will be investing in other Private Equity (PE) and VC funds along with direct investments into companies. The fund will diversify across PE/VC funds in multiple sectors, including consumer, technology, healthcare, and financials as well as across multiple stages, from early stage to growth stage and late stage across different vintages. ‘Vintage’ is the first year when the fund starts investing in companies. Some part of the funds will be allocated for co-investment opportunities available from such investee funds. Nidhi Chawla, Fund Manager, Kotak India Alternate Allocation Fund said, “Investors require an optimal alternate equity portfolio through … [Read more...] about Kotak Investment Advisors launches Fund of Funds, targets Rs 1,500-crore fund raise

Wealth-creation platform dezerv. has raised $21 million in Series A funding led by Accel, with participation from existing investors Matrix Partners India and Elevation Capital, the company said on August 8. With the funds raised, the fintech startup plans to focus on strengthening the user experience, introducing new investment opportunities, and hiring in different roles, the statement said. Founded in 2021 by Sandeep Jethwani, Vaibhav Porwal, and Sahil Contractor, dezerv. is a wealth management platform that offers expert-led investing available to professionals with an investment amount starting from Rs 50,000. “This fundraise is one more step towards our mission of delivering real investment expertise to India’s working professionals. The need for better investment outcomes has never been felt as acutely as in the current volatile environment, ” said Jethwani. Earlier an invite-only platform, dezerv. said it was now open to all working professionals in India. … [Read more...] about Wealth management platform Dezerv raises $21 million from Accel, Elevation Capital

Share to Twitter Share to Linkedin Topline Consumer sentiment improved this month after an all-time low reached in June, though consumers are still 21.6% less satisfied with the economy than this time last year, according to preliminary data released Friday morning from the University of Michigan’s monthly survey of consumer sentiment. Key Facts The Friday data showed that the Index of Consumer Sentiment stood at 55.1 this month, up 7% from 51.5 in July, but down from 70.3 in August 2021. The Index of Consumer Sentiment is calculated by adding up a number of questions, such as “Would you say that you are better off or worse off financially than you were a year ago,” and aggregating the results into a number between 0 and 100. All components of the Index of Consumer Expectations improved this month, especially among low and middle income consumers who feel the strongest effects of inflation, which has slowed slightly over the past month, … [Read more...] about American Consumers Feeling More Confident, Data Shows