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  Bloomberg Oyo, the high-profile affordable lodging startup that filed for an initial public offering last year, is considering slashing its fundraising target by half or even shelving the debut, according to people familiar with the matter. Faced with headwinds including slumping stock markets, Oyo-operator Oravel Stays Ltd could clip its Indian IPO from the nearly $1 billion initially sought ...

  Bloomberg The initial public offering of FabIndia Ltd, a retailer of clothing and furniture inspired by traditional Indian crafts, is a natural fit for global investors focused on environmental, social and governance criteria, according to its chief financial officer. “We are ESG in the way we operate in terms of connecting the artisans, the farmers,” Gopal Mishra said in ...

Bloomberg Only half of Chinese aged 80 and older are fully vaccinated against Covid-19, highlighting a key vulnerability as the country grapples with its worst outbreak since Wuhan and the prospect of reopening to the world. About 51% of over 80-year-olds have received two shots and some 20% have gotten boosters, health officials told reporters at a briefing in Beijing. ...

Bloomberg Southeast Asia’s tourist havens from Bali to Bangkok are moving to further reopen, rolling back Covid-19 restrictions to attract more visitors and bolster growth in their tourism-reliant economies. Thailand announced that it will further ease entry rules for vaccinated visitors starting from April 1. Foreign tourists will no longer be required to hold a Covid-free certificate issued within 72 ...

  Bloomberg Toyota Motor Corp has unveiled a project to introduce India’s first hydrogen-powered fuel cell electric car as one of the biggest emerging car markets looks to expedite its transition to clean transport. Local unit Toyota Kirloskar Motor Pvt will work with the government’s testing agency International Centre for Automotive Technology to study the fuel cell electric car Mirai ...

  MOSCOW / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, met on Thursday with Sergey Lavrov, Minister of Foreign Affairs of the Russian Federation, in Moscow. They discussed cooperation between the two countries and ways to enhance the bilateral strategic partnership in various fields. They exchanged views on key developments and ...

ABU DHABI / WAM Abu Dhabi National Oil Company (Adnoc) announced on Thursday the award of framework agreements valued at $658 million (AED2.4 billion) for cementing services as it continues to invest and enable drilling growth and expand its crude oil production capacity. The framework agreements were awarded to Haliburton Worldwide Limited Abu Dhabi (Halliburton), Baker Middle East (Baker), Emirates ...

  ABU DHABI / WAM The United Arab Emirates has welcomed the decision by the Council of the European Union to amend Regulation (EU) No 1352/2014, thereby adopting the arms embargo adopted by the United Nations (UN), which all UN Member States are required to implement under the UN Charter. The European Council decision cites the text of the UN ...

  Abu Dhabi / WAM Emirates Steel recorded a nearly 50% increase over the past two years in the number of its export markets in Europe, America, Asia, and the Middle East and North Africa. The expansion of Emirates Steel’s export footprint to 56 countries in 2021 compared to 38 in 2019 is part of the company’s strategy to diversify ...

  DUBAI / WAM The UAE Ministry of Energy and Infrastructure and the Ministry of Transportation and Telecommunications of Bahrain discussed ways of strengthening their cooperation in land and maritime transportation. The discussion took place during their first meeting to monitor the progress of the land and maritime transport cooperation and the implementation of a memorandum of understanding (MoU) signed ...