City Abu Dhabi Financial News

As the World Trade Organization opens its latest biannual meeting of government ministers on Monday, its longtime moratorium on duties on e-commerce products is coming under pressure like never before

World Trade Organisation are maintained at the Abu Dhabi meeting next week, union commerce and industry minister Piyush Goyal said on Friday. The country will also raise the issue of the European Union's Carbon Border Adjustment Mechanism (CBAM) at the WTO and bilaterally with the EU, Goyal said at the Raisina Dialogue 2024 here. «There are attempts to include issues in the WTO that are not part of world trade, and India will try to ensure that the guiding principles of WTO are maintained,» he said.

By Rachna Uppal and Hadeel Al Sayegh

(Reuters) -Talks related to a planned $30 billion merger between the chemicals arms of Abu Dhabi National Oil Company (ADNOC) and Austrian oil and gas company OMV have stalled in recent weeks, the Financial Times reported on Friday.

NTA) has announced that the National Eligibility cum Entrance Test for Undergraduate (NEET-UG) will be conducted at exam centres in 14 foreign cities on May 5. This decision comes after requests from aspirants, as the initial information bulletin for the exam did not mention centres outside India. «It has been decided that the exam will also be conducted in 14 foreign cities in 12 countries,» said NTA Senior Director (Exams) Sadhna Parashar. According to NTA Senior Director (Exams) Sadhna Parashar, the exam will be conducted in 12 countries, including cities like Dubai, Abu Dhabi, Sharjah (UAE), Kuwait City (Kuwait), Bangkok (Thailand), Colombo (Sri Lanka), Doha (Qatar), Kathmandu (Nepal), Kuala Lumpur (Malaysia), Lagos (Nigeria), Manama (Bahrain), Muscat (Oman), Riyadh (Saudi Arabia), and Singapore.

India will not support further continuation of prohibition of imposing customs duties on electronic transmissions at the World Trade Organization (WTO), meeting in Abu Dhabi next week, an official said Tuesday, as besides loss of revenue for developing countries, it also constrains their policy space. New Delhi is of the view that e-commerce needs to be looked at from a development dimension and not from the “eyes of big tech companies”.

The head of the World Trade Organization says the body remains relevant and its leaders focus on reform “no matter who comes into power” as Donald Trump — who as U.S. president bypassed WTO rules by slapping tariffs on America’s friends and foes alike ...

(Corrects to remove word «Embargo» from headline)

UAE-based blockchain mining firm Phoenix Group said it has seen a 50% growth in net income and a “substantial increase” in year-on-year sales following its initial public offering (IPO) on the Abu Dhabi Stock Exchange.

14 February 2024 –Param Labs, a leader in game and technology development, and Animoca Brands, the company advancing digital property rights for gaming and the open metaverse, today announced a strategic partnership to leverage Animoca Brands’ expertise to bolster Param Labs’ go-to-market strategy, particularly in the area of launching innovative Web3 products, and to refine Param Labs’ blockchain and token economy design.

Hamas. PM Modi met with UAE leader Sheikh Mohammed bin Zayed Al Nahyan on Tuesday in Abu Dhabi, where the war and conflict in the Red Sea featured heavily in discussions, according to India’s Foreign Secretary Vinay Kwatra. Both leaders agreed, though, to take the first step to operationalize part of the ambitious India-Middle East-Europe Economic Corridor, or IMEC, he said.

Narendra Modi ceremoniously unveiled the first Hindu Mandir in Abu Dhabi on February 14, 2024. His address following the inauguration encompassed a range of sentiments, from requesting a standing ovation for UAE President Mohammed bin Zayed Al Nahyan to embracing the identity of a devotee of Mother India, as he referred to himself as «Maa Bharti ka Pujari.» Here's a breakdown of the key points from PM Modi's Abu Dhabi speech. UAE's Golden Chapter During the inauguration, Modi praised the UAE's leadership, stating, «The UAE has written a golden chapter» by allowing the construction of the temple. He acknowledged the years of hard work and dreams invested in the project, emphasising its spiritual significance for the Hindu community. He also mentioned the blessings of Swaminarayan, the founder of the BAPS movement.

BPCL ESPS Trust on Wednesday sold a 0.3% stake in Bharat Petroleum Corporation through the open market for around Rs 400 crore. The trust sold 68,36,948 shares at Rs 584 apiece, block deals data showed. Shares of the state-owned oil refiner ended 7.3% higher on the National Stock Exchange at Rs 626.95.

Narendra Modi on Wednesday inaugurated Abu Dhabi's first Hindu stone temple amid devotional chants and in the presence of spiritual leaders of the Swaminarayan sect. Dressed in a light pink silk dhoti and kurta paired with a sleeveless jacket and stole, the prime minister participated in rituals of a ceremony to dedicate the temple to the people. The prime minister also participated in "Global Aarti", which was performed simultaneously at over 1,200 temples of the Swaminarayan sect worldwide built by the Bochasanwasi Shri Akshar Purushottam Swaminarayan Sanstha (BAPS). Earlier, Modi met people from different faiths who contributed to the construction of the first Hindu stone temple here.

Mandir in Abu Dhabi is witnessing an overwhelming influx of people, resonating with enthusiastic «Modi-Modi» chants, as they eagerly await the historic inauguration ceremony by Prime Minister Narendra Modi today. As the first Hindu temple in Abu Dhabi, the BAPS Mandir has become a focal point of cultural and spiritual significance, drawing devotees from various corners. The atmosphere is charged with excitement as the faithful gather in huge numbers to witness the culmination of years of dedication and hard work that have gone into the construction of this magnificent temple.

Narendra Modi is set to inaugurate Abu Dhabi's first Hindu stone temple, a momentous occasion showcasing architectural grandeur and cultural unity. The temple, built by the BAPS Swaminarayan Sanstha, stands as a symbol of India's rich heritage and the strong bonds between India and the UAE. Architectural Marvel Situated on a 27-acre site in Abu Mureikhah near Al Rahba, the temple is a stunning display of craftsmanship. The facade features exquisite marble carvings set against a backdrop of pink sandstone from Rajasthan, with more than 25,000 pieces of stone meticulously crafted by skilled artisans from Rajasthan and Gujarat.

UAE temple opening LIVE updates: Prime Minister Narendra Modi will inaugurate the BAPS Swaminarayan Mandir on Wednesday in Abu Dhabi. BAPS represents a socio-spiritual Hindu faith rooted in the Vedas, pioneered by Bhagwan Swaminarayan in the late 18th century and formally established in 1907 by Shastriji Maharaj.The proposal of the Hindu temple in Abu Dhabi came during the first visit of PM Modi to the UAE in 2015 after which the government allocated land for the BAPS temple.

PM Modi. He also noted that the strong ties between the two nations serve as a model for international cooperation. PM Modi is set to participate in the World Government Summit 2024 which will be held in Dubai as a Guest of Honour and deliver a special keynote address at the Summit.

PM Narendra Modi and President Sheikh Mohamed bin Zayed Al Nahyan in Abu Dhabi. The BIT will be a key enabler for further promoting investments in both countries. India has signed both BIT and Comprehensive Economic Partnership Agreement with the UAE. The agreement on interlinking of the instant payment platforms — UPI (India) and AANI (UAE) — will facilitate seamless cross-border transactions between the two countries. This follows the MoU on interlinking payment and messaging systems signed in July last year during PM Modi's visit to Abu Dhabi.

Indian community greeted Prime Minister Narendra Modi as he reached the hotel on the first day of the two-day visit to Abu Dhabi on Tuesday. Modi reached here earlier in the day to participate in the 'Ahlan Modi' ('Hello Modi' in Arabic) and address the large Indian community at the Zayed Sports City Stadium here later in the evening and on Wednesday would be inaugurating the largest Hindu temple in the UAE. As Modi reached the St Regis hotel after a bilateral meeting with Sheikh Mohamed bin Zayed Al Nahyan, the President of the UAE, men, women and children alike, all dressed in their colourful best traditional wear, gathered on a flight of steps at the hotel lobby and also overlooking from the first-floor lobby, engaged in cheerfully shouted slogans such as 'Modi Hai Toh Mumkin Hai,' 'Har Ghar Modi, Ghar Ghar Modi' and even 'Ahlan Modi.' Modi responded by waving back at them.

Narendra Modi on Tuesday told the Indian diaspora at the 'Ahlan Modi' event in Abu Dhabi that he has come to meet his family members in the gulf country, adding that he has brought the fragrance of the soil where they were born. The Indian prime minister, who was addressing the Indian diaspora at Sheikh Zayed Stadium said that he has brought the message of 140 crore brothers and sisters of the country where they (the Indian diaspora) were born and the message is that India is proud of them, they are the pride of Bharat. Thanking UAE's President Sheikh Mohamed bin Zayed Al Nahyan for the warmth and hospitality extended to him, the prime minister said India-UAE relations reaching unprecedented heights, and both the countries are partners in each others' progress.