Bloomberg Tata Consultancy Services plans to overhaul its organisational structure with specialized groups targeted to help startups as well as large global firms as Asia’s largest software outsourcing provider gears up to double its revenues to $50 billion before 2030, according to people familiar. The Mumbai-based company will create four internal teams — a business transformation group, incubation group, ...

Bloomberg TikTok says it’s suspending livestreaming in Russia amid the country’s new “fake news” law that’s aimed at silencing dissent and limiting information about its invasion of Ukraine. “We have no choice but to suspend livestreaming and new content to our video service while we review the safety implications of this law,” the company announced in a series of tweets. ...

  Bloomberg Vietnam’s catfish and tuna exporters suspended shipments to Russia and Ukraine and are refraining from entering new contracts after the US and Europe imposed sanctions on Russia after its invasion of Ukraine. The shippers said their Russian buyers declined to pay for their orders because of the plunge in the ruble to a record low, while payments through ...

Bloomberg Sales of electric vehicles in India tripled last year to 14,800 units and there are growing signs of momentum in this key potential market of 1.4 billion people. Impatient consumers rushing to switch from gasoline-powered two wheelers to electric scooters have been haranguing startups like Ola Electric on social media over the waiting times for deliveries. Luxury brands are ...

  Bloomberg Major stock markets from Europe to Asia are heading for bear markets — falling more than 20% from highs — amid fears of an inflation shock as crude oil soared on the prospect of a ban on Russian supplies. Europe’s Stoxx 600 dropped more than 3% on Monday, while US equity index futures and an Asian share index ...

  Bloomberg The Indian rupee tumbled to a record low, while stocks and bonds also slumped as a relentless surge in oil prices darkened the nation’s economic outlook. India relies on overseas purchases to meet about three-fourths of its oil requirement, making it one of the most vulnerable in Asia to higher oil prices. Oil prices, already up more than ...

  DUBAI / WAM A delegation of members from the European Parliament, headed by Anna Michel, Member of the European Parliament and Vice Chair of the Committee on International Trade, expressed great admiration at the UAE’s successes in supporting women and advancing gender balance. The delegation was received by Mona Al Marri, Vice President of the UAE Gender Balance Council, ...

  Bloomberg Global oil markets could tighten even more with Russian flows being disrupted and producers such as Libya experiencing supply problems, according to Vitol Group, the world’s biggest independent crude trader. That could push prices higher still after they soared to more than $115 a barrel in the wake of Russia’s invasion of Ukraine. “We have plenty of twists ...

ABU DHABI / WAM President His Highness Sheikh Khalifa bin Zayed Al Nahyan has sent a message of congratulations to Nana Akufo-Addo, President of Ghana, on the occasion of his country’s National Day. HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and ...

  RIYADH / WAM Edge Group entity, AL JASOOR, the UAE’s armoured vehicle specialist, unveiled a new variant of its Rabdan 8×8 infantry fighting vehicle (IFV) — the Rabdan ambulance — on the first day of the World Defense Show held in Riyadh, Kingdom of Saudi Arabia. The new configuration is uniquely designed to provide off-road mobility and mine-resistant, ambush ...