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Pakistan, Saudi Arabia hold business conference to boost economic ties

Pakistan and Saudi Arabia on Monday held a joint business conference to strengthen bilateral economic ties, a day after they signed seven agreements worth USD 20 billion to promote trade and investment in the cash-strapped South Asian country. Saudi Crown Prince Mohammad bin Salman, who is also Saudi Arabia’s defence minister, arrived on his maiden trip to Pakistan on Sunday. He will arrive in India on February 19 on his first official visit. Counterterrorism and energy security are expected to top the agenda for discussions during the two-day trip. Pakistan…

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Why Sterling Holidays is pivoting its business

The scalability issues with timeshare vacation business have galvanised Sterling Holidays to pivot its business. Chennai-based Sterling Holiday is going whole hog into becoming a regular hotels company. Unlike in the past where it owned resorts or leased them from developers, the company is actively looking at managing properties which are owned by developers, an asset-light model which is famous with international branded hospitality chains in India. Sterling has already signed five management contracts and is hoping to sign 10 hotel properties this year under the managed model, adding 400…

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Investcorp acquires IDFC’s private equity, realty investment management business

Mumbai: The US-based alternative investment manager InvestcorpNSE 0.00 % has acquired IDFCNSE -1.02 % Group’s private equity and real estate investment management business and plans to incrementally raise $50 million towards IDFC’s existing fourth fund. The incremental capital, along with the uninvested pool in the fourth fund, will be invested in consumption-driven companies in India, a senior company executive said. HDFC chairman Deepak Parekh has joined the global advisory board of Investcorp. “Once the acquisition is complete on January 31, we will use the greenshoe option and raise another $50 million in the fourth fund. This incremental capital,…

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Future Group to diversify into cloud kitchen business

In a cloud kitchen concept, operators prepare, package and deliver food without providing any dine-in facility to end-consumers. SHAMBHU KALAN: Future Group will soon venture into the delivery of cooked foods from its kitchens as part of consolidation of food business, according to its Chief Executive Officer Kishore Biyani The group is looking to leverage its digital wallet FuturePay to deliver affordable meals at the doorsteps of consumers under the cloud kitchen concept. “Now, we are talking about cloud kitchen and ready-to-eat food at customers’ home at Rs 40. That is another project…

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Podcast | Digging Deeper – India’s surge on World Bank’s Ease of Doing Business Index

So you’ve heard the news, I assume. As the central government finds itself caught in a battle of wills with the RBI, this news should provide some cheer for the folks in the upper echelons of the administration. India has once more jumped a few places in the “ease of doing business” rankings. 23 places to be precise, so more than just a few. Besides the catchy name, what’s great about that list is that it acts as a fairly reliable weathervane for judging the business climate in any economy. The World…

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Missed opportunities: 9 poor business decisions that would have changed history

Excite could have purchased Google for $7,50,000 | Back in 1999, founders of Google, Sergey Brin and Larry Page, decided to offer their then-nascent company to Excite, one of the most widely recognised online portals of the 90s, for $1 million. CEO George Bell wasn’t too excited about the deal, even after the duo brought down their asking price to $7,50,000. Today, with a market cap of $367.6 billion, Google has become one of the biggest tech companies and is synonymous with “search”, while Excite slowly dwindled in its shadow….

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