Author: Central Bureau

The luxury real estate market in India is witnessing an unprecedented surge, with posh neighborhoods, fabulous views, and heated infinity swimming pools becoming the new normal for affluent Indians. This burgeoning trend is not confined to the elite class alone, but is increasingly catching the attention of a broader segment of the population, ushering in a new era for India’s real estate sector. In February 2023, an image that circulated on social media depicted a large crowd gathering at the office of realty developer DLF for the launch of a new luxury housing project. The crowd’s eagerness to purchase an…

In a momentous stride towards clean energy and emission reduction, the United States and Australia have announced a bilateral Clean Energy Transformation Compact. The landmark agreement was signed during the recent G7 leaders’ summit in Hiroshima, Japan. Designated as the Climate, Critical Minerals, and Clean Energy Transformation Compact, the agreement places climate action and clean energy development at the forefront of the Australia-United States Alliance. According to the White House, U.S. President Joe Biden is set to support congressional action to recognize Australian suppliers and activities as domestic activity within the United States, particularly for the Defense Production Act. This…

The Volte, an Australian designer fashion rental marketplace, has successfully raised $4 million in an oversubscribed Series A round. This innovative platform, facilitating dress-sharing among more than 70,000 users, attracted lead investment from eBay Ventures, eBay’s venture capital arm. This funding round marks an important step in The Volte’s journey since its inception in Perth, 2017. Founded by Kym Atkins, Bernadette Olivier, Genevieve Hohnen, and Jade Hirniak, The Volte offers a revolutionary solution to fast-fashion consumption. This platform allows users to rent out their own clothes, effectively curbing fashion waste and promoting a more sustainable approach to style. This investment…

The banking crisis, which has been the source of investor trepidation for several months, might be entering a recovery phase as US regional bank shares rallied on Wednesday. This surge followed Western Alliance Bancorp’s (WAL.N) announcement of a substantial deposit growth, signaling a potential turnaround for the beleaguered banking sector. Western Alliance saw its deposits grow by over $2 billion from February to May 12, a clear sign of continued customer confidence in the bank’s financial strength. This encouraging development comes despite the recent failures of three regional lenders: Silicon Valley Bank, Signature Bank, and First Republic Bank. Arthur Hogan,…

South Asia Gas Enterprise (SAGE), an international consortium that specializes in deepwater pipeline projects, has put forth a proposal for a groundbreaking UAE-India undersea gas pipeline. This $5-billion initiative aims to directly connect the UAE with Gujarat, India, marking a significant development in energy trade. This 2,000-km-long energy corridor stands to revolutionize energy trade between the Middle East and South Asia, potentially leading to an annual saving of about `7,000 crore compared to similar quantities of liquefied natural gas (LNG) imports. The proposal comes after extensive technical and financial feasibility studies, which have garnered positive responses from multiple stakeholders. “We…

The inaugural meeting of the India-European Union Trade and Technology Council (TTC), a high-level coordination platform, is scheduled for May 16 in Brussels. The meeting will focus on bolstering cooperation in strategic technologies, digital connectivity, clean energy, and enhancing trade and investment ties. The Indian delegation will be co-chaired by Commerce and Industry Minister Piyush Goyal, External Affairs Minister S Jaishankar, and Union Minister of State for Electronics and Information Technology, Rajeev Chandrasekhar. On the EU side, Executive Vice Presidents Dombrovskis and Vestager will co-chair the discussions. The TTC, unveiled by Prime Minister Narendra Modi and European Commission President Ursula…

Dr. Jigang Bao, a highly acclaimed name in the field of tourism scholarship, has clinched the prestigious 16th Ulysses Prize. The United Nations World Tourism Organization (UNWTO) bestows this esteemed honor in recognition of significant contributions towards the creation and dissemination of knowledge in the tourism sector. The lauded scholar is the Director of the Center for Tourism Development and Planning Research at Sun Yat-sen University, Guangzhou, China. Dr. Bao’s groundbreaking contributions have been instrumental in exponentially boosting domestic tourism and establishing China as a highly sought-after tourism destination. Beyond national borders, his influence has been equally impactful as the…

In Nigeria, approximately 71% of the population lacks access to modern energy services, impacting health, education, and economic development. As the largest economy in Africa, Nigeria has vast natural resources, including oil and gas. The government has set a goal to achieve universal energy access by 2030 and is implementing policies and initiatives to increase access to clean, affordable energy. However, the energy sector faces challenges such as insufficient power generation, inadequate infrastructure, and energy poverty. Efforts are being made to diversify energy sources, improve infrastructure, and encourage private sector investment in renewable and energy-efficient solutions. Recently, the World Economic…

Toyota India, In a significant achievement for India’s manufacturing sector, Bengaluru-based Toyota Kirloskar Auto Parts (TKAP) has commenced exporting e-Drive components, a crucial part of electrified powertrains, to Japan, Indonesia, and Thailand. This development highlights the success of the Make in India initiative, as exporting such advanced automotive technology to Japan demonstrates India’s ability to meet the world’s toughest quality standards. The e-Drive technology is utilized in hybrid electric vehicles (HEVs) such as the Toyota Urban Cruiser Hyryder, Toyota Innova Hycross, and Maruti Suzuki Grand Vitara. Toyota Kirloskar Motor (TKM) manufactures the Grand Vitara for Maruti Suzuki under the global…

India and the UK are inching closer to a Free Trade Agreement (FTA), which could significantly impact overseas education between the two nations. Historically, the UK and India have maintained strong trade ties, with the UK being India’s second-largest trading partner in the EU and India being the UK’s second-largest market for services outside of Europe. The FTA negotiations, which began in 2018, have focused on India’s demands for greater access to the UK’s labor market and education sector, including relaxed visa restrictions and more approvals for Indian students. An FTA between India and the UK could open new opportunities…