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India-Pak conflict: Travel companies take strong steps against Turkey, Azerbaijan, suspend travel offerings
Business Today
·
2m ago
Medial
Travel companies like EaseMyTrip, Cox & Kings, and Travomint have suspended travel packages to Turkey, Azerbaijan, and Uzbekistan. This decision follows these nations' support for Pakistan amid India-Pakistan tensions, highlighted by Operation Sindoor against terrorism. Turkish President Erdoğan's call for a UN dialogue on Kashmir and Pakistan's airspace breaches with Turkey's drones have further strained relations. Security concerns are rising with China, Turkey, and Azerbaijan aligning against India.
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AJIO, Myntra Pull Plug on Turkish Brands Amid Indo-Pak Stiffness
StartupTalky
·
2m ago
Medial
Myntra and Reliance-owned AJIO have stopped selling Turkish brands like Trendyol and LC Waikiki in response to calls for a boycott due to Turkey's support for Pakistan amid Indo-Pak tensions. This decision mirrors a broader move to align international alliances with national interests following geopolitical tensions. Reliance emphasizes national interest as a guiding principle and is reevaluating offerings across platforms. Similarly, travel advisories against Turkey and Azerbaijan reflect growing nationalistic strategy shifts in response to regional conflicts.
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Blood and bookings won’t flow together: Ixigo’s Aloke Bajpai
Economic Times
·
2m ago
Medial
In response to rising tensions between India and Pakistan and concerns over diplomatic leanings towards Pakistan by Turkey and Azerbaijan, Indian travel companies like EaseMyTrip, Ixigo, and Cox & Kings have halted tours to these countries. Ixigo's CEO, Aloke Bajpai, emphasized the decision with the statement, “Blood and bookings won’t flow together.” The move highlights the economic significance of tourism to Turkey and Azerbaijan, urging travelers to spend money in countries that respect Indian values.
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EaseMyTrip’s Nishant Pitti urges boycott of Chinese endorsements over Pakistan support
Economic Times
·
2m ago
Medial
EaseMyTrip founder Nishant Pitti urged boycotting Chinese products and endorsements, emphasizing national interest over convenience, amid China’s support for Pakistan during India’s Operation Sindoor. Pitti had earlier advised against travel to Turkey and Azerbaijan due to their sympathies towards Pakistan post-Pahalgam attack. Highlighting the impact of consumer choices, Pitti encouraged spending on nations respecting Indian values. His stance aligns with India's strategic moves against terrorism-supportive nations and their allies.
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Operation Sindoor: Airlines offer full refunds amid suspended bookings
Economic Times
·
2m ago
Medial
Travel platform Ixigo and airlines have announced full refunds for travelers affected by flight suspensions due to Operation Sindoor. Flights to airports in India and countries like Turkey and Azerbaijan are impacted. Airlines including IndiGo, SpiceJet, and Air India are offering flexible policies and waivers on fees. The move responds to tensions between India and Pakistan, with travel companies suspending bookings to certain countries and issuing advisories amid the closure of 32 airports in India.
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Turkey-focused VC firm Revo Capital onboards two LPs for third fund
VCCircle
·
4m ago
Medial
Revo Capital, a venture capital firm focused on Turkey, has secured commitments for its third fund from a state-owned firm and a returning offshore limited partner. Specializing in early-stage technology startups, Revo Capital, based in the Netherlands, is nearing the final close of this fund. The firm manages a portfolio of 20 companies, demonstrating a strong track record in supporting and nurturing emerging tech enterprises in Turkey and beyond.
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India-Pak cricket fever spawns a travel bug few can afford
Livemint
·
1y ago
Medial
Indian sports travel companies are capitalising on the growing interest of wealthy individuals in attending international cricket matches and other sporting events. Fanatic Sports and DreamSetGo are two Mumbai-based companies offering packages for events such as the India-Pakistan cricket match in New York City, the Roland-Garros tennis tournament, and the Paris Olympics. The packages include perks like accommodation in luxury hotels, meet-and-greets with sports stars, and meals at top restaurants. While sports tourism is still relatively new in India, there is increasing demand for such experiences among high-net-worth individuals and corporate travellers.
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Australia to bring anti-scam law targeting internet giants this year, regulator says
Economic Times
·
1y ago
Medial
Australia is planning to implement a law requiring internet companies to proactively remove scams from their platforms or face significant fines. The Australian Competition and Consumer Commission (ACCC) is working with internet, banking, and telecommunications firms to establish a mandatory anti-scam code, which would legally bind these companies to take reasonable steps in protecting their users, including offering an effective complaint service. Currently, only telecommunications providers have specific anti-scam regulations in place. The move aims to address the increasing financial losses to scams, which tripled in Australia to AUD 2.7 billion ($1.8 billion) from 2020 to 2023. The proposed law may spark conflict between Australia and big tech companies, similar to the ongoing dispute over payment for media content links.
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EU proposes sanctions on Indian, Chinese and other firms for aiding Russia
Livemint
·
1y ago
Medial
The European Union has proposed trade restrictions on approximately 24 companies, including three from China, for allegedly supporting Russia's actions in Ukraine. This would be the first time the EU imposes restrictions on Chinese firms in relation to the Ukraine conflict. The list also includes companies from Hong Kong, Serbia, India, and Turkey. The proposed restrictions aim to prevent European firms from trading with these listed companies, as part of the EU's efforts to control Russia's access to sanctioned goods. The sanctions need approval from all member states before adoption.
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BharatPe fraud: Ashneer Grover, wife move Delhi HC challenging Look Out Circular
Livemint
·
1y ago
Medial
Former MD of payment app BharatPe, Ashneer Grover, and his wife have approached the Delhi High Court to challenge the Look Out Circular (LOC) issued against them in connection with a cheating and forgery case. They have requested the court to quash the LOC and suspend it temporarily, claiming that they have been cooperating with the investigation. The court has listed the matter for further hearing on May 8 and asked the authorities to consider their application to travel abroad. The FIR against the couple was filed by the Delhi Police's Economic Offences Wing last year.
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Iran attack on Israel: Dangerous escalation could spell dire implications for India’s oil supply
Money Control
·
1y ago
Medial
Iran launched a counter-strike against Israel with armed drones and missiles. Though most of the attacks were intercepted, an Israeli airforce base was reportedly hit. This escalation in conflict has implications for India, as it has close relations with both Iran and Israel. The conflict spreading to the Gulf could impact global oil prices, with India heavily dependent on oil imports from the region. India has issued a travel advisory to citizens, and there are concerns for the safety of Indian crew members on a seized vessel in the Hormuz Strait. The situation remains volatile and could draw the US into the conflict.
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