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Allcargo Logistics is planning to cut costs by USD 30 mn by the end of 2023-24 due to the ongoing slowdown in the global logistics sector. The company also aims to raise up to INR 300 cr in equity funds for Gati, its express logistics business. Company's chairman Shetty said the cost cutting would include a rationalisation of the workforce and a freeze on hiring.
Under the patronage of His Royal Highness Prince Saud bin Nayef bin Abdulaziz, the Prince of the Eastern Province, and the presence of H.E Eng. Saleh...
Saudi Ports Authority (Mawani) signed on Sunday four contracts to provide maritime services with private sector investments exceeding SR1 billion ($266 million).
Mawani has signed SAR1 billion ($266 million) contracts as part of its efforts to boost Saudi ports' efficiency on par with global standards. The deal involves key entities Zamil and Naghi Marine who will offer maritime service across eight of its ports.
In a strategic move, Zomato, the renowned food delivery platform spearheaded by Deepinder Goyal, is eyeing the acquisition of Shiprocket, a prominent e-commerce shipping startup.