Fri, Jan 3, 2025 2:21 PM
MENA DIGEST: Saudi Arabian tech startups lead funding activity this week
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ITC Hotels' demerger from ITC is set to complete on January 6, with shareholders receiving one ITC Hotels share for every 10 ITC shares owned, retaining 60% stake. The hotel chain, with 140 properties, has seen steady growth post-pandemic, and is expected to reach ₹3,680 crore in revenue by FY25, trading at a discount to Indian Hotels but higher than Chalet Hotels.
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Prime Minister Narendra Modi on Sunday inaugurated a 13-km section of the Delhi-Meerut Regional Rapid Transit System (RRTS) corridor from Sahibabad in Uttar Pradesh to New Ashok Nagar here. Modi also took a ride on a Namo Bharat train from Sahibabad station to New Ashok Nagar station. During his journey, the prime minister interacted with children and people.
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India's eight major office markets saw a 6 per cent annual decline in fresh supply of workspaces during 2024, even as the demand hit an all-time high, according to Cushman & Wakefield. Real estate consultant Cushman & Wakefield (C&W) data showed that new supply of office space stood at 451.5 lakh square feet in 2024 as against 477.9 lakh sq ft in the preceding year.
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