Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, on Sunday launched Ministry of Finance’s strategic plan 2023-2026 for UAE. Sheikh Maktoum called it a roadmap to improve the government’s performance through financial empowerment, leadership and development. The four-year strategy of the finance ministry is […]
India’s central bank Reserve Bank of India (RBI) have updated their master directions on prepaid payment instruments, where travellers from G20 countries, including those from Gulf regions as well as the non-resident Indians (NRIs) can access the recently launched unified payments interface (UPI). Dr Bhagwat Karad, Minister of State for Finance said, most countries outside […]
India’s leading natural gas firm GAIL (India) Ltd will soon close a long-term liquefied natural gas (LNG) import deal with Qatar to purchase at least 1 million metric tons per year, potentially for more than 20 years, Reuters News reported. The deal would be part of GAIL’s plans to lock in new supply contracts by […]
Nomura Holdings Inc., financial firm based in Japan plans to hire over 40 private bankers in Asia and the Middle East in the next two years. The company is looking at tapping into an expanding pool of rich families and entrepreneurs in the region, based on the report by Reuters News on Thursday. The company […]
The director general of foreign trade, a division of the Indian government has imposed restrictions on import of laptops, tablets, and personal computers with immediate effect from August 3, 2023. The government did not provide any reason or explanation for this move. However, this announcement comes as a firm step in the direction of boosting […]
UAE-based Abu Dhabi National Oil Co (ADNOC) signed an agreement with US-based Occidental Petroleum Corp to evaluate potential investment opportunities in carbon dioxide (CO2) capture and storage in the United States and United Arab Emirates. ADNOC said the agreement aims to develop a carbon management platform to accelerate the net zero goals of both companies. […]
One of the leading real estate developers in Dubai, Deyaar has announced positive financial results for the first half (H1) of 2023, recording a 77 per cent increase in profits to touch AED 118.5 million compared to AED 66.9 million during the same period in 2022. Also, the net profit in Q2 2023 increased by […]
Facebook parent Meta Platforms implemented its plan to end all news availability from its social media platforms in Canada. Meta initiated the termination of posting news on its platforms after the Canadian government passed a bill called the Online News Act or Bill C-18 during the month of June. The law states tech giants including […]
India-based Reliance Industries and Brookfield Asset Management have entered into a Memorandum of Understanding (MoU) on Tuesday,to explore opportunities to manufacture renewable energy and decarbonization equipment in Australia. The MoU is focused on enabling Australia to locally produce clean energy equipment such as photovoltaic modules that contain semiconducting materials which convert sunlight into electrical energy, […]
Elon Musk’s X Corp, formerly known as Twitter, on Tuesday had its logo, the glowing X taken down, after multiple complaints from neighbours because of its disturbing lights, as reported by Reuters. Musk renamed the social media platform X Corp from Twitter, approximately six months after acquiring the firm on a $44 billion deal. He […]
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 […]
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 […]
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 […]
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 […]
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 […]
