Prince Miteb freed under $1 billion settlement agreement

Senior Saudi Prince Miteb bin Abdullah, once seen as a leading contender to the throne, was freed after reaching an “acceptable settlement agreement” with authorities paying more than $1 billion. Prince Miteb was accused of awarding contracts to his own firms including a $10 billion deal for walkie-talkies. Miteb,...
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Xiaomi expands manufacturing facility to Noida

Smartphone maker Xiaomi has announced its third manufacturing plant in India and the first facility for power banks in partnership with Hipad Technology in Noida, Uttar Pradesh. Along with this, Xiaomi also announced the launch of two new power banks- 10,000 mAh Mi Power Bank 2i and 20,000 mAh...
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BrahMos perfects India’s cruise missile triad

Launching the BrahMos supersonic cruise missile from a Sukhoi-30 combat jet has completed India’s cruise missile triad. It was in fact India taking a step into uncharted waters as IAF became the first air force in the world to successfully launch a surface attack missile of this category. The...
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Facebook hub to be opened in Nigeria

Facebook will open a “community hub space” in Lagos in Nigeria next year to encourage software developers and technology entrepreneurs in the nation. The move comes from the social network giant to pursue a training program in fast-growing Africa. The U.S. social media company said the centre would host...
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Upcoming labour reforms to solve job crisis in India

The lack of jobs is beginning to haunt the Modi government. The Reserve Bank of India’s recent Consumer Confidence Survey shows that public perception is also beginning to take account of the fact that there are no jobs available in the economy. According to the survey, 43.7 % of...
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Vedanta set to be the largest aluminium maker in India

Based on the prediction and assimilation of raw material reports the Anil Agarwal-owned Vedanta Ltd is all set to overtake Aditya Birla group as the largest producer of aluminium in the country. Vedanta have produced 0.96 million tonne of aluminium in its two facilities in Odisha and Chhattisgarh. If...
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Amazon invested around 1 billion to compete in India

US online retail giant Amazon has invested Rs 6,200 crore (about $1 billion) in its e-commerce business in India since the beginning of this calendar year as it competes with its rival Flipkart. Amazon Seller Services has done three rounds of capital infusion this year so far at various...
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Indywood to launch mammoth Billionaires Club

A grand meet of movers and shakers from over 100 countries will be held as a part of Indywood Film Carnival, a flagship event organized by 10 billion US dollar Project Indywood. The event is expected to give a fresh impetus in boosting foreign direct investment in entertainment sector...
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