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  Bloomberg Paytm’s plan to buy back shares has left investors surprised and worried about the loss-making Indian fintech firm’s growth prospects as it uses funds to prop-up its hammered stock. The board of One 97 Communications Ltd, the listed-entity that runs Paytm, was expected to decide on the buyback. The move comes as the stock has plunged about 75% ...

  Bloomberg Aditya Birla Capital Ltd, controlled by billionaire Kumar Mangalam Birla, is considering selling its insurance brokerage unit as the group seeks to restructure its financial services business, people familiar with the matter said. The publicly-traded company has held talks with potential buyers about a sale of Aditya Birla Insurance Brokers Ltd as it failed to scale up the ...

  Bloomberg Food delivery unicorn Line Man Wongnai is in talks to acquire Delivery Hero SE’s Foodpanda in Thailand as it plans for a stock-market debut in the next few years, according to people familiar with the discussions. Bangkok-based Line Man Wongnai considered a deal at around $100 million at one point, but the value is likely to have changed ...

  Bloomberg GoTo Group jumped by the most since May as some brokers upgraded the battered stock following weeks of sharp selloff. The Indonesian ride-hailing and e-commerce provider surged 15% to 100 rupiah, snapping 16 straight sessions of losses. Trading volume also soared to about 30 times its three-month average. Even with the latest gain, the stock has plunged more ...

Bloomberg Prime Minister Rishi Sunak unveiled plans to tackle the UK’s swelling backlog of asylum claims including making it harder for arrivals from Albania to stay in Britain. The premier unveiled a five-point plan to bear down on what he called “illegal migration,” saying it’s “unfair” that people enter Britain “illegally,” because it takes capacity away from processing “genuine” claims. ...

  Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has approved the second phase of the Dubai 2040 Urban Master Plan. Phase II of the plan consists of several projects under ten key initiatives, including Enhancing Urban Centres, Dubai Real Estate Strategy, Urban Farming Plan, ...

  Abu Dhabi / WAM Hub71, Abu Dhabi’s global tech ecosystem, on Monday announced its startup community has raised $1 billion (AED3.7 billion) in venture capital collectively since its launch in 2019. The milestone was achieved in a year which has seen Hub71 onboard 53 high growth technology companies each with a proven track record of attracting large-scale investment from ...

Abu Dhabi / WAM The General Command of Abu Dhabi Police has signed a memorandum of understanding (MoU) with Burjeel Holdings to cooperate in the areas of medicine, scientific research, and training and to offer high-quality medical services to the employees of the Abu Dhabi Police. The MoU was signed on behalf of the General Command of Abu Dhabi Police ...

  Dubai / WAM DMCC – the world’s flagship free zone and government of Dubai Authority on commodities trade and enterprise – has announced the launch of the DMCC Gaming Centre in support of the increasingly growing global and regional video games industry. Currently standing at $1.8 billion, revenues generated by the gaming industry in the Mena region are expected ...

  Bloomberg When China’s securities regulator vowed to reduce market volatility in January, few predicted that this year would be one of the most turbulent in recent memory. The drama has only increased this quarter, setting the scene for more upheaval in 2023. Chinese stocks are now moving by 5% a day more frequently than anytime since the global market ...