Savita V Jayaram

19 published stories

A senior journalist, writer and now an Editor-in-Chief at Business Tabloid publications. Having worked with Network18, IBTimes, WAN-IFRA and many other international publications of repute in her career, she possesses more than a decade experience in business journalism. She has been reporting on various industries namely pharma, chemicals, retail, technology, HR & management across APAC, the Middle East, UK and the US markets. She is passionate about reading and traveling on weekends.

Banking

Central Bank of UAE Revokes Licenses of Money Exchange House and Commercial Broker Firm

The Central Bank of the UAE (CBUAE) has revoked the license of Dirham Exchange, an exchange house operating in the UAE, and struck off its name from the register. It has also canceled the registration of RMB Commercial Brokers Co, a hawaladar operating in the country. The administrative sanctions were imposed on both the companies, […]

Savita V Jayaram9 August 20231 min read

Oil and Gas

India Hikes Windfall Tax on Domestic Crude to Rs 4250 per tonne from August 1

India hikes windfall tax on domestically produced petroleum crude. The Special Additional Excise Duty (SAED) on crude petroleum increased from Rs 1600 per tonne to Rs 4250 per tonne. The SAED on diesel increased from zero to Rs 1 per litre. These new rates will be effective from August 1, 2023. However, this move will […]

Savita V Jayaram1 August 20231 min read

Real Estate

Abu Dhabi’s Real Estate Market Records AED 46.33Bn in H1 2023

As per the latest report released by the Department of Municipalities and Transport (DMT), Abu Dhabi’s real estate market shows sustained growth momentum, driven by investor optimism to record 10,557 property transactions, amounting over AED46.33 billion in the first half of 2023. The department’s half-yearly report indicates that all kinds of land, buildings, and real […]

Savita V Jayaram31 July 20231 min read

Technology

AI Spends in Middle East to More than Double to $6.4 Bn by 2026

According to The International Data Corporation, it is estimated that the Middle East will be spending $3 billion on AI in 2023, which is estimated to more than double to $6.4 billion by 2026. The region is expected to see annual growth in spending of almost 30 per cent in AI over the next three […]

Savita V Jayaram31 July 20233 min read

Banking

Arab Monetary Fund to Extend $615.8 Mn Loan Support for Banking Sector Reforms in Egypt

Arab Monetary Fund extends $615.8 million loan to support reforms in the financial and banking sector in Egypt. The sum extended within the framework of the structural adjustment facility in the financial and banking sector is equivalent to the amount of Arab accounting Dinar 153.475 million. The loan supports a reform program aiming at enhancing […]

Savita V Jayaram31 July 20233 min read

Oil and Gas

UAE extends cooperation to Bangladesh to help overcome energy crisis

Bangladesh’s energy sector is heavily reliant on imports. The country has been importing LNG from Qatar and Oman to meet its huge demand for the fuel. Also it’s been grappling with power cuts resulting from shortage of fuel in recent times. UAE Industry and Advanced Technology Minister, Dr. Sultan bin Ahmed Al-Jaber went to Dhaka […]

Savita V Jayaram28 July 20231 min read

Banking

RAKBANK records 71% increase in Net Profit to AED 901mn in H1 2023

Profits were up by 71% year-on-year, driven by diversified growth in the balance sheet, continued sales momentum and strong credit quality. The National Bank of Ras Al Khaimah (RAKBANK) reported strong financial results for the first half of 2023 (H1’23). As the bank accelerates strategic transformation for H1’23, the cost increases were 7 per cent […]

Savita V Jayaram26 July 20234 min read