Tyre maker Michelin to leave Russia
Michelin cited supply chain problems as the main reason behind its decision to give up business in Russia.
Corporate Buzz
Novel spirit looks to energize Japan’s sake industry
Kure-based Naorai Inc. uses a patented technique to make a distilled beverage from sake that it brands as Jo-Chu, Purified Spirit.
Mukesh Ambani resigns from Reliance Jio Board, eldest son Akash appointed Chairman
Mukesh Ambani will continue to be the Chairman of Jio Platforms Ltd, the flagship company that owns all Jio digital services brands.
China’s technology firms among pacesetters of metaverse
Chinese tech heavyweights Huawei and Alibaba, are working alongside Meta (formerly known as Facebook), and aiming to accelerate the development of the metaverse.
Top 10 Chinese metaverse firms with greatest potential
To make the list, a firm is required to be valued at over $1 billion. Among them, 16 percent are State-owned enterprises; 84 percent are private enterprises.
Japan’s video game giants profit from back catalogs
A major reason for older titles’ continuous good sales is the shift from brick-and-mortar retail to downloading.
Air passengers to reach 83 percent of 2019 levels this year: IATA
The air industry was sent reeling by the pandemic, with passenger numbers plunging 60 percent in 2020 and remaining 50 percent down in 2021. Airlines lost nearly $200 billion over…
Creditors approve Garuda’s restructuring plan
It is estimated that Garuda can slash its liabilities by between 80 and 81 percent, with the proposal allowing the airline to convert its obligations to $825 million in new bonds…
Big reset for Singapore hotel industry as it welcomes post-Covid-19 recovery
Since the launch of the vaccinated travel framework in April, Singapore has seen an uptick in visitor arrivals and hotel occupancy rates. Figures from Singapore Tourism Board…
India has a lot of interest in boosting semiconductor industry: AICTE chairperson
Dr. Anil D. Sahasrabudhe also said that most of the semiconductor manufacturing happens in India and the National Education Policy would support students to get internships at…