By Dr. Gyan Pathak India bloc’s political moves in Jammu and Kashmir have utterly upset the Union Minister of Home and BJP leader Amit Shah, especially the seat sharing announcement between the National Conference and the Congress, which prompted him to sharply attack Congress on the politically sensitive issue of unity of India asking 10 […]
All 80 foundations, including monopiles and transition pieces, successfully installed Final installation phase has begun Leading in localization and environmental responsibility HAMBURG, GERMANY – EQS Newswire – 23 August 2024 – Yunneng Wind Power Co., Ltd. (Yunneng), the company responsible for the construction and operation of the 640 MW Yunlin Offshore Wind Farm project (Yunlin OWF) project in Taiwan, has achieved another major milestone by successfully completing […]
Fidelity Bank has strongly disputed the allegations of a data breach that led to a significant fine imposed by the Nigerian Data Protection Commission (NDPC). The bank was fined ₦555.8 million for allegedly violating data protection laws, a charge that the bank vehemently denies. The NDPC’s action stems from an incident where a customer’s details were allegedly used to open an account without consent. According to Fidelity […]
OPEC+ faces a critical decision in the coming weeks as it evaluates whether to move forward with its planned oil production increases scheduled to begin in October. The decision is fraught with complexity, driven by a mix of economic, political, and market factors that could significantly influence global oil prices and economic stability. The planned increases stem from a decision made in June 2024, where OPEC+ members […]
A fresh volcanic eruption occurred on the Reykjanes Peninsula in southwestern Iceland on Thursday, marking the sixth eruption in the region since December. The volcano released a significant amount of hot lava, heightening concerns about ongoing geological activity in this seismically active area.
Icelandic authorities reported that the new eruption began early in the morning, with lava flows visible from nearby towns. Emergency services have been deployed to monitor the situation and provide guidance to residents. The eruption is centered in a volcanic zone that has seen heightened activity over the past several months, following a series of eruptions that started in late 2023.
The Reykjanes Peninsula, known for its volcanic and geothermal activity, has been the site of intense geological changes. This latest eruption continues a trend of frequent volcanic events that have affected the region since late last year. Scientists from the Icelandic Meteorological Office and other research institutions are closely observing the eruptions to better understand the patterns and potential impacts on the surrounding environment.
Local authorities have issued advisories to ensure public safety, advising residents to stay indoors and avoid areas close to the eruption site due to hazardous conditions. The volcanic ash and gases emitted could pose health risks, and the lava flows present a threat to nearby infrastructure.
The ongoing volcanic activity on the Reykjanes Peninsula highlights the dynamic nature of Iceland’s geological environment. The country, situated on the Mid-Atlantic Ridge, experiences regular volcanic activity due to tectonic movements. The current series of eruptions reflects the region’s complex volcanic system and ongoing seismic adjustments.
Efforts are underway to assess the impact on local communities and infrastructure. Reykjavik and other nearby areas are monitoring air quality and preparing for possible evacuations if the situation worsens. The government is coordinating with scientific experts to provide updated information and ensure that appropriate measures are in place to handle potential risks.
In addition to the immediate concerns, researchers are utilizing this series of eruptions as a valuable opportunity to study volcanic processes and improve prediction models. Understanding the mechanisms driving these eruptions can enhance preparedness and response strategies for future events.
This eruption continues a significant period of volcanic activity in Iceland, which has garnered attention from both scientists and the public. The frequency and intensity of eruptions in this region underscore the importance of ongoing monitoring and research to mitigate the impact on communities and better anticipate future volcanic events.
As the situation develops, authorities remain vigilant and committed to safeguarding the well-being of residents while advancing scientific knowledge about volcanic phenomena in one of the world’s most active volcanic regions.
Nigeria is banking on the operational launch of the Dangote Petroleum Refinery to address ongoing fuel shortages and alleviate the burden of lengthy queues at petrol stations. As the country grapples with an energy crisis exacerbated by its reliance on imported refined petroleum, the new refinery promises to be a game-changer in the nation’s energy landscape. This refinery, situated in the Lekki Free Zone near Lagos, is […]
VinFast is counting on excellent warranty and aftersales support to dispel doubts about EV reliability and drive adoption. With a 10-year warranty on both vehicle and battery, the Vietnamese automaker is setting a new standard for consumer confidence in the electric vehicle market. HANOI, VIETNAM – Media OutReach Newswire – 23 August 2024 – The electric vehicle (EV) market is at a crossroads. While overall sales have […]
Illuminating a collection of seven artworks by renowned artists and eight public art benches by designers – offering shoppers and art enthusiasts a unique community-inspired artistic experience SINGAPORE – Media OutReach Newswire – 22 August 2024 – One Holland Village mall has unveiled its latest artwork, Singapore Sun by Dale Chihuly. Situated at the mall’s Village Green, the stunning artwork rounds up the carefully curated medley of […]
Private Housing Estate to Host Groundbreaking Field Test of Self-driving Right-Hand Drive Vehicle HONG KONG SAR – Media OutReach Newswire – 22 August 2024 – The Automotive Platforms and Application Systems R&D Centre (APAS) announced that “5G-enabled Autonomous People Mover Service in a Residential Park” pilot programme has officially launched following approximately two years of meticulous planning and technological research, like the collection of high-definition maps, artificial […]
British pound strengthened sharply following a surge in PMI data, climbing to $1.3129, the highest level since July 2023. The pound’s upward momentum was bolstered by encouraging economic indicators, outpacing its performance against the euro and reaching a peak not seen since April 2022 if it surpasses the $1.3143 mark. The robust performance of the pound reflects investor confidence in the UK economy, as recent PMI figures […]
XIONG’AN, CHINA – Media OutReach Newswire – 22 August 2024 – Over the past seven years since its establishment, Xiong’an New Area in Hebei Province, north China, has intensified efforts to relieve Beijing of functions non-essential to its role as China’s capital, with the demonstration effect of central enterprises clustering initially emerging. The market economy vitality has continued to burst forth, with the rapid development of the […]
Dubai’s newly-opened RIBAMBELLE restaurant offers a unique blend of warmth and hospitality. It is conceived as a unique place where every member of even the largest families can bask in comfort. The first Ribambelle outlet was opened in 2012, and has since spread across across three countries: Kazakhstan, Uzbekistan, and Russia, besides the UAE. Founder and CEO Yulia explains the thought behind the concept and her exciting […]
Saudi Arabia has decided to continue covering the fees for expatriate workers in the industrial sector until December 31, 2025, as part of its broader economic reforms under Vision 2030. This decision, made during a recent meeting of the Saudi Cabinet in Jeddah, reflects the government’s ongoing efforts to stimulate growth, attract investment, and increase employment opportunities for Saudi nationals in the industrial sector. Originally introduced in […]
Collaborative Effort Set to Accelerate Growth and Expansion of Vietnamese Enterprises in Singapore SINGAPORE – Media OutReach Newswire – 22 August 2024 – SUNRATE, an intelligent global payment and treasury management platform announced that it has entered into a partnership with Vietnam Chamber of Commerce (VietCham Singapore) to empower Vietnamese enterprises looking to scale and operate in Singapore. As part of the partnership, members of VietCham Singapore […]
Marking the Fourth Consecutive Year of Sustainable High-quality Growth Agile Channel Structure and Geographic Diversification Bolster Resilience Amid Industry Downturns HONG KONG SAR – Media OutReach Newswire – 21 August 2024 – The first baijiu company listed on the Hong Kong Stock Exchange and the second Chinese sauce-aroma baijiu stock being publicly listed, ZJLD Group Inc. (“ZJLD”, the “Group” or the “Company”, SEHK stock code: 06979. HK), […]
Zomato, the food delivery giant, is set to expand its portfolio beyond food and grocery delivery by acquiring Paytm’s movie and event ticketing business for ₹2,048 crore ($244 million). This strategic acquisition is aimed at bolstering Zomato’s presence in the “going-out” sector, which includes movie and event ticketing, a market segment that has seen substantial growth in India.
The deal was approved by the boards of both companies, with the transaction expected to close within 90 days. Under the agreement, Paytm’s movie ticketing platform, OTPL, and its sports and events ticketing arm, WEPL, will become wholly-owned subsidiaries of Zomato. The acquisition will include a primary infusion into both subsidiaries, enabling them to settle the amount payable for the transfer.
Paytm, which has been a key player in the ticketing space since acquiring the TicketNew and Insider platforms in 2017 and 2018 respectively, is divesting these assets to focus on its core financial services. Zomato’s move into this sector is seen as a strategic expansion, aiming to capture a larger share of the entertainment market in India, where it will directly compete with established players like BookMyShow.
The acquisition marks a significant shift in Zomato’s business strategy as it seeks to diversify its offerings. As of March 2024, OTPL and WEPL had reported turnovers of ₹13.14 crore and ₹236.03 crore respectively, reflecting their robust presence in the ticketing market. The deal underscores Zomato’s intent to leverage these platforms to enhance its market position and revenue streams beyond its traditional food delivery service.
Zomato’s entry into the ticketing business also aligns with the broader trend of tech companies diversifying their services to capture more value from their user bases. By integrating Paytm’s ticketing services, Zomato aims to create a more comprehensive lifestyle platform for its users, capitalizing on the growing demand for online ticketing in India.
This acquisition is part of a broader consolidation in the Indian tech sector, where companies are increasingly looking to acquire complementary businesses to drive growth and profitability. As Zomato ventures into this new domain, industry observers will be watching closely to see how the company integrates and scales its new ticketing business.
Revenue and Profit Attributable to Shareholders up 54% and 83% respectively Proactive in Seeking Change and Capturing Growth Opportunities to Achieve Long-term Sustainable Development (RMB’ million) Six months ended 30 June 2024 2023 Change (%) Revenue 168.8 109.3 +54% Gross profit 85.8 56.6 +52% Operating profit 56.7 33.9 +67% Profit attributable to shareholders 56.1 30.7 +83% Basic earnings per share (RMB) 0.028 0.017 +65% HONG KONG SAR […]
LIMASSOL, CYPRUS – Media OutReach Newswire – 21 August 2024 – Appier, a software-as-a-service (SaaS) company that uses artificial intelligence (AI) to power business decision-making, is proud to announce the success of its campaign with Murka, an international game developer renowned for its social casino and casual games. Utilizing Appier’s AIBID solution, Murka achieved substantial growth across its social casino titles, driving impressive returns on advertising spend […]
By Manish Rai After lengthy negotiations in Doha, Hamas has named Yahya Sinwar as its new Political chief, replacing Ismail Haniyeh who was assassinated in Teheran. Since 2017, Sinwar has served as the group’s leader inside the Gaza strip. He now becomes overall leader of its political wing. Sinwar’s promotions undermines more pragmatic and senior figures in Hamas with wider exposure to the international political arena and […]
By K R Sudhaman Himalayan states that share borders with neighboring countries of China, Pakistan, Bangladesh, Nepal, Bhutan and parts of Myanmar have faced tardy development since independence. This is partly because of difficult terrain and ecological fragility. Backwardness too is a factor. The terrain is hilly but most of the states are […]PUTRAJAYA, MALAYSIA – Media OutReach Newswire – 21 August 2024 – The world’s renowned thought leaders, innovators, and industry experts are set to gather in Malaysia for the highly anticipated 4th World Islamic Tourism Conference (4th WITC). This landmark event, scheduled to take place on upcoming 12 and 13 September, promises to be a pivotal moment in the global Islamic tourism landscape. Organised by Islamic Tourism Centre […]
The Academy will offer programmes with cross-cultural industry experiences to empower students and executives for success in the global business arena. BANGKOK, THAILAND – Media OutReach Newswire – 20 August 2024 – The Singapore University of Social Sciences (SUSS) and IT consultant company Orange Cap Innovative (OCI) today launched the SUSS Success Academy in Bangkok, creating new learning experiences and real-world training opportunities for students in Singapore […]
A North Korean soldier crossed the heavily fortified Demilitarized Zone (DMZ) into South Korea, marking the second such defection this month. The defector, believed to be a staff sergeant, made his way across the military demarcation line on the eastern front of the DMZ. South Korean military officials confirmed they detected the soldier’s movements and conducted an operation to assist him in reaching the South. This incident […]
By Dr. Gyan Pathak The Supreme Court of India constituted a national taskforce (NTF) to ensure safety of doctors in the country while hearing a suo motu case taking cognizance of the rape and murder of a postgraduate trainee doctor at R G Kar Medical College on August 9 during her shift. The bench headed […] 
