City Dubai, Uae Financial News

12.10 / 19:53

COST economy country exclusive Department shock IMF sees economic growth in the Mideast improving next year. But the Israel-Hamas war poses risks

The International Monetary Fund says Middle East economies are gradually recovering as external shocks from the war in Ukraine and global inflation fade

01.10 / 23:49

UPS CEO COP country audience UAE's president-designate for UN COP28 offers full-throated defense of nation hosting climate talks

The Emirati president-designate for the upcoming United Nations COP28 climate conference has offered a full-throated defense of his nation hosting the talks

14.09 / 17:49

Citizens country exclusive Can I use LRS to remit money outside India for F&O trading?

As per the Liberalized Remittance Scheme (LRS), an Indian citizen can send $250,000 per year. Can this amount be used for investments in futures & options (F&O) trading on international listed derivatives. For example, can a trading account be opened with an international broker in foreign geography to trade exchange products such as S&P 500 futures, crude oil options, gold, Comex (F&O market for commodities), etc. What is the taxation if the account is opened in Dubai, UAE or Singapore; jurisdictions which have double taxation avoidance agreement (DTAA) with India? —Name withheld on request Remittances under LRS are allowed only in respect of permissible capital or current account transactions or a combination of both.

08.09 / 18:17

Provident Aviat RIG Photography Helicopter A helicopter crashes off the United Arab Emirates coast, killing 1 pilot while another missing

A helicopter has crashed off the coast of the United Arab Emirates, killing one pilot while another remains missing

08.09 / 07:47

Provident Aviat RIG Photography Helicopter A helicopter crashes off the United Arab Emirates coast. 2 pilots are missing

A helicopter crashed off the coast of the United Arab Emirates, with two pilots now missing

07.09 / 12:03

FIVE Action Chevron Shell show Smuggling Fine Greek shipper pleads guilty to smuggling Iranian crude oil and will pay $2.4 million fine

A Greek shipper has pleaded guilty to a charge over it smuggling sanctioned Iranian crude oil and agreed to pay a $2.4 million fine

07.09 / 12:03

show Smuggling Fine US federal court filings show Greek shipper pleads guilty to smuggling sanctioned Iranian oil, to pay $2.4 million fine

US federal court filings show Greek shipper pleads guilty to smuggling sanctioned Iranian oil, to pay $2.4 million fine

05.09 / 20:35

COST UPS Action country Oil prices spike as Saudi Arabia, Russia extend 1.3 million barrel a day oil cut through December

Saudi Arabia and Russia have agreed to extend their voluntary oil production cuts through the end of the year

05.09 / 20:35

end Saudi Arabia says it will extend its voluntary production cut of 1 million barrels of oil a day through end of year

Saudi Arabia says it will extend its voluntary production cut of 1 million barrels of oil a day through end of year

04.09 / 16:41

COST Citi CEO Harmonic country social MGM UAE creates federal authority for 'commercial gaming' as casino giants flock to Gulf Arab nation

The United Arab Emirates has created a federal authority to potentially run a national lottery and what it describes as “commercial gaming.”

30.08 / 17:31

Citi Twitter Target Man Extreme stage penalty Saudi man receives death penalty for posts online, latest case in wide-ranging crackdown on dissent

A Saudi court has sentenced a man to death over his posts on X, formerly known as Twitter, and his activity on YouTube

22.08 / 22:29

UPS Aviat CEO Airlines International Dubai International Airport sees 41.6 million passengers in first half of year, more than in 2019

Dubai International Airport, the world’s busiest for international travel, says it served 41.6 million passengers in the first half of this year

19.08 / 06:37

UPS Citi Provident Target Platform country cover expansion International FuelBuddy eyes international expansion

New Delhi: Fuel delivery platform FuelBuddy is looking at expanding its global footprint by foraying into Africa. FuelBuddy is an online platform providing doorstep delivery of fuel. Apart from transporting fuels, the company sells lubricants.

16.08 / 05:55

BLOCK Aviat Airlines shootings country Who wants to fly over Taliban-held Afghanistan? New FAA rules allow it, but planes largely avoid it

Two years after the Taliban takeover of Afghanistan, the United States has begun easing rules that could allow commercial airlines to fly over the country in routes that cuts time and fuel consumption for East-West travel

15.08 / 08:07

Blockchain Technology Investments Web3 Dubai Dubai lures AI, Web3 enterprises with 90% subsidized commercial licenses

Dubai has started offering commercial licenses to artificial intelligence (AI) and Web3 businesses at a 90% subsidy as it works to create the largest cluster of new-age tech companies in the Middle East and North Africa (MENA) region.

12.08 / 19:25

FIVE Ripple Waters Aware Hawkins show Threat Shippers warned to stay away from Iranian waters over seizure threat as US-Iran tensions high

Western-backed maritime forces in the Middle East have warned shippers traveling through the strategic Strait of Hormuz to stay as far away from Iranian territorial waters as possible to avoid being seized

08.08 / 06:37

UPS Amazon CEO Apple Walmart reports Saudi oil giant Aramco reports $30B in profits, down nearly 40% from last year due to lower prices

Saudi state-run oil giant Aramco has made $30 billion in profit in the second quarter, a nearly 40% decline from the same period the previous year

07.08 / 14:01

UPS Amazon CEO Apple Walmart reports Saudi Arabian oil giant Aramco reports $30B in Q2 profits, down nearly 40% from last year

Saudi state-run oil giant Aramco made $30 billion in profit in the second quarter, a nearly 40% decline from the same period the previous year

05.08 / 11:43

Progressive Action COP track country Explainer COP28 place Mint explainer: What to expect from COP28 taking place in November in UAE?

The 2023 UN Climate Change Conference will convene from 30 November to 12 December 2023 in Dubai, United Arab Emirates (UAE). Mint explains what to expect from the 28th meeting of the Conference of the Parties (COP 28). A.

04.08 / 20:27

Provident FIVE Cooper Action Fighting country US military may put armed troops on commercial ships in Strait of Hormuz to stop Iran seizures

The U.S. military is considering putting armed personnel on commercial ships traveling through the Strait of Hormuz, in what would be an unheard of action aimed at stopping Iran from seizing and harassing civilian vessels

03.08 / 18:17

COST UPS Citi country PUMP Saudi Arabia extends cut of 1 million barrels of oil a day, potentially boosting prices at the pump

Saudi Arabia says it will extend its unilateral production cut of 1 million barrels of oil a day through the end of September in its effort to boost flagging energy prices

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