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reliance on oil, he is pushing companies to move their regional headquarters to Riyadh, the Saudi capital, from U.A.E.’s Dubai, a more cosmopolitan city favored by Westerners. He’s also launching plans to set up tech centers, draw more tourists and develop logistical hubs that would rival the U.A.E.’s position as the Middle East’s center of commerce. In March, he announced a second national airline that would compete with Dubai’s highly ranked Emirates.

IIFL Home Finance has raised a $50 million loan from US International Development Finance Corp (DFC) to grow its affordable housing finance portfolio with a special focus on sustainable housing. The fund was raised at a concessional 5.72% rate, which includes the hedging cost, IIFL Home Finance chief executive Monu Ratra told ET. Its average cost of funds is 8.4%.

Airport after successfully completing his France and UAE visit."Concluding a productive UAE visit. Our nations are working together on so many issues aimed at making our planet better.

Bloomberg, the G-7 nations are convening before the Group of 20 meetings in Gandhinagar, Gujarat, with a focus on providing assistance to Ukraine, reforming multilateral development banks, and reevaluating global supply chains. On Sunday, Treasury Secretary Janet Yellen expressed her commitment to collaborating with China on shared areas of interest.

UAE on Saturday signed a Memorandum of Understanding for planning to establish Indian Institute of Technology (IIT) — Delhi in Abu Dhabi, which could be the second IIT abroad after Tanzania. The MoU was signed following talks between UAE President Sheikh Mohamed bin Zayed Al Nahyan and Prime Minister Narendra Modi in Abu Dhabi. Modi was in UAE on a day long visit following his France trip.

Indian Institute of Technology (IIT) Delhi has signed a Memorandum of Understanding (MoU) with Abu Dhabi Department of Education and Knowledge (ADEK) and the Ministry of Education in India to set up its international campus in Abu Dhabi. The MoU was signed in the presence of Prime Minister Narendra Modi and Sheikh Mohamed Bin Zayed Al Nahyan, President of the UAE, according to a release issued by IIT Delhi.

IIT Delhi campus in the Gulf country. Prime Minister Narendra Modi is currently on an official visit to the United Arab Emirates (UAE). Indian Institute of Technology (IIT) Delhi is the second IIT to announce setting up an offshore campus after IIT Madras. Last week, IIT Madras signed an MoU for setting up a campus in Tanzania's Zanzibar. Union Education Minister Dharmendra Pradhan tweeted to congratulate IIT Delhi for signing MoU. «An exemplar of New India's innovation and expertise, the IIT Delhi campus in UAE will be an edifice of India and UAE friendship. It will set a brand new template for leveraging the power of knowledge for both mutual prosperity and global good as envisioned in NEP,» he added.

IIT Delhi's Abu Dhabi campus will offer Master's courses from January 2024, and Bachelor's courses from September next year. Union education minister Dharmendra Pradhan said, “IIT Delhi's Abu Dhabi campus to set template for leveraging power of knowledge for mutual prosperity and global good". Prime Minister Narendra Modi is currently on an official visit to the United Arab Emirates (UAE).

Narendra Modi received a dazzling welcome in United Arab Emirates (UAE) as the iconic Burj Khalifa was lit up with the colours of the Indian nation flag. As a part of the light-and-sound show at the Burj on Friday, setting the stage for PM Modi's arrival to the Gulf nation on an official visit, the skyscraper also showcased his picture, followed by a text that read, «Welcome Honorable Prime Minister Narendra Modi.» A leaping skyscraper in Dubai, United Arab Emirates, Burj Khalifa is one of the top attractions to visit in the city.

Narendra Modi arrived here on Saturday on a day-long visit to the UAE during which he will meet UAE President Sheikh Mohamed bin Zayed Al Nahyan and review the burgeoning bilateral ties between the two strategic partners. Modi arrived in Abu Dhabi following his successful two-day visit to Paris where he joined French President Emmanuel Macron for the Bastille Day parade as the Guest of Honour and signed several agreements to bolster bilateral ties. Prime Minister Modi will hold talks with Sheikh Al Nahyan, President of the UAE and Ruler of Abu Dhabi.

Narendra Modi arrived in the United Arab Emirates (UAE) on Saturday for a one-day visit. During his stay, he is scheduled to meet UAE President Sheikh Mohamed bin Zayed Al Nahyan to discuss and assess the growing bilateral relations between the two nations, which have been identified as strategic partners. As reported by PTI, Modi's visit to Abu Dhabi follows his successful two-day trip to Paris, where he attended the Bastille Day parade as the Guest of Honour alongside French President Emmanuel Macron.

Narendra Modi on Saturday left for the UAE after concluding his two-day visit to France where he held wide-ranging talks with French President Emmanuel Macron and was conferred with the country's highest civilian and military honour, the Grand Cross of the Legion of Honour. «PM @narendramodi bids adieu to France following a successful visit that heralded a new chapter in India-France relationship.

foreign banks that have shut shop in the country or scaled down their operations. So far, foreign lenders such as South Africa's First Rand Bank and Abu Dhabi Commercial Bank have completely exited India, while others such as Citi Bank, Barclays, and BNP Paribas have scaled down their operations. This leaves around 44 foreign lenders operating in the country. There have been some murmurs about how these exits are linked to stricter compliance requirements for foreign lenders, and more banks may leave Indian shores, which doesn't augur well for the economy as a whole. Foreign banks have been lobbying for changes in Indian banking regulations, arguing for a level playing field, but the fact is that most of these exits are linked to global business strategies. Supported by resilient domestic demand, India's growth story is only going to get stronger. Already, India's state-run banks have turned around, and private sector lenders are also well placed to meet the demands of a growing economy. As per a report from Goldman Sachs Research, India may emerge as the world’s second-largest economy by 2075. It makes little business sense if foreign lenders choose to stay away or continue here with restricted operations. In this context, the question arises: Do foreign banks need to reinvent themselves to stay relevant in India?

Nvidia will invest $50 million to speed up training of Recursion's artificial intelligence models for drug discovery, the companies said on Wednesday, sending the biotech firm's shares surging about 83%. Recursion, whose advisers include AI pioneer Yoshua Bengio, will use its biological and chemical datasets exceeding 23,000 terabytes to train AI models on Nvidia's cloud platform. Nvidia, seen as a big winner of the boom in artificial intelligence, could then license those models to biotech firms through BioNeMo, a generative AI cloud service for drug discovery that it rolled out earlier this year.

Abu Dhabi’s financial centre is in talks with more than 30 hedge funds to help them set up in the Middle East.

National Election Committee (NEC) today announced the lists of the electoral college members from all emirates for the 2023 Federal National Council (FNC) elections, which features 398,879 members, marking an 18.1 per cent hike over the 2019 lists that included 337,738 Emirati electors. The representation of Emirati women in the electoral college for 2023 has increased by 51 per cent, compared to 49 per cent for men, the NEC said, adding that the electoral college lists have a significant representation of electors in the 21-40 age category (55 per cent), reflecting the crucial role of youth in the UAE's progress.

The president of this year’s United Nations’ climate talks urged the oil and gas industry Thursday to reach net zero greenhouse gas emissions by or before 2050 in a speech to oil producing states

The head of global energy giant Shell says it would be “irresponsible” to cut oil and gas production at a time when the world economy is still dependent on fossil fuels

Dubai | London | Saudi Arabia plans to launch a multibillion-dollar investment company to expand its sports interests following its power grab in golf and success in English soccer, according to two people familiar with the matter.

Bitcoin mining companies have been looking for a suitable region to call home ever since they were forced to leave China. 

The United Arab Emirates (UAE) is gradually solidifying its status as a go-to Bitcoin (BTC) mining destination in the Middle East. The country has established itself as a pro-Web3 destination for crypto-focused companies with over 30 free trade zones and a growing contribution to the Bitcoin mining hash rate.