City Dubai Financial News

By Nafisa Eltahir and Jana Choukeir

By Ilona Wissenbach

NEW DELHI : The Directorate General of Civil Aviation (DGCA) on Wednesday granted air operator’s certificate to Goa-based Just Udo Aviation Pvt Ltd to operate its airline Fly91. The grant of the air operator certificate marks the completion of all regulatory and compliance requirements for the airline to begin its commercial operations, the airline said in a statement. "We now look forward to commencing the sale of tickets leading to the start of commercial operations soon," managing director and chief executive officer of Fly91, Manoj Chacko said.

₹1,300). In the video, the server added '24-carat' dusted gold with ghee on it like a 'tadka'. A post shared by Mehul Hingu (@streetfoodrecipe) However, netizens have argued that gold 'does not absorb in the body,' and added, 'it's an extra way of pooping'.

Indian man, Pat Nibin Maxwell, was tragically killed in a missile strike near the Israel-Lebanon border on Monday. The attack, which targeted an orchard in northern Israel, also injured two other Kerala natives, Paul Melvin and Bush Joseph George. Maxwell, who hailed from Kollam, Kerala, had only been in Israel for two months, leaving behind his pregnant wife and five-year-old daughter. His family received the devastating news in a phone call from his wife on Monday evening, learning of his initial injury and later, his passing. «He was in Muscat and Dubai and then returned home,» Maxwell's father, Pathrose, recounted. «Then, he went to Israel. First my elder son went there. A week later, my younger son followed.»

—Name withheld on request

By Valerie Volcovici

methane emissions from space. The MethaneSAT satellite will add to a growing fleet of spacecraft in orbit that are meant to help fight climate change by publishing data on emissions of the invisible but potent greenhouse gas.

money laundering case, the Enforcement Directorate (ED) has frozen various security holdings valued at over Rs 580 crore belonging to a Dubai-based «hawala operator.» The ED conducted fresh raids on February 28 at multiple locations across Kolkata, Gurugram, Delhi, Indore, Mumbai, Bhopal, and Raipur, resulting in the seizure of cash and valuables worth Rs 3.64 crore. As per reports, the ED's investigation into the Mahadev online book gaming and betting app has revealed the involvement of high-ranking politicians and bureaucrats from Chhattisgarh, the home state of the app's main promoters. The agency identified Hari Shankar Tibrewal, a Kolkata native currently residing in Dubai, as a «hawala operator and major player» in the case. Tibrewal allegedly partnered with the Mahadev app promoters and operated an illegal betting app called «skyexchange.»

A court in Montenegro has ruled that Terraform Labs founder Do Kwon should be extradited to the United States to face fraud charges rather than to his native South Korea.

By Maha El Dahan and Alex Lawler

The government kick-started the process for additional stake sale in General Insurance Corporation (GIC Re), with roadshows in key global financial hubs including New York, Singapore, Hong Kong, Dubai and London.

₹580 crore of a Dubai-based "hawala operator" and seized cash and valuables worth ₹3.64 crore after fresh raids in the Mahadev app-linked money laundering case, official sources said on Friday. The latest raids were launched on February 28 at various premises in Kolkata, Gurugram, Delhi, Indore, Mumbai and Raipur. Mahadev betting app case: ED conducts raid in West Bengal, Mumbai, NCR The ED probe in the Mahadev online gaming and betting app has indicated purported involvement of various high-ranking politicians and bureaucrats from Chhattisgarh.

State Duma lawmakers have signed off on a bill that will let Russian firms and their partners use the digital ruble and “digital assets” in international settlements.

Family office-backed crypto investment firm, ​​Deus X Capital, has agreed to acquire institutional digital assets firm HAYVN for an undisclosed amount.

₹2.25 Crores (AED 1 million) to ensure the release of 900 prisoners from jails across the Arabian nation," said a statement from his office. Under the aegis of The Forgotten Society initiative founded in 2008, Merchant has already been instrumental in obtaining the release of 900 prisoners across the UAE since the beginning of 2024, including 495 prisoners from Ajman, 170 prisoners from Fujairah, 121 prisoners from Dubai, 69 prisoners from Umm Al Quwain and 28 from Ras Al Khaimah. In conjunction with the Director Generals of Police at the Central Jails across the UAE, Merchant has already succeeded in obtaining the release of over 20,000 prisoners over the years from a wide range of denominations, nationalities, and religions.

Cryptovsummit, an event organized by DoubleMorgan and led by its founder Mena Botros, has become a cornerstone in the crypto industry, particularly in the Dubai region. With a successful track record of five years, this annual event has consistently drawn investors, fostering crucial long-term business relationships. The upcoming edition on April 17th, 2024, in Dubai, U.A.E promises to be especially significant as it coincides with the Bitcoin halving, creating an atmosphere of anticipation for groundbreaking developments in the crypto space.

Foreign Exchange Management Act (FEMA), news agency PTI reported on Sunday citing sources. The report said the promoters of Mumbai-based real estate company have been asked to depose at the ED office in Mumbai but they may choose to submit their primary responses through an authorised representative.

Directorate of Enforcement (ED) has summoned Niranjan Hiranandani, co-founder and managing director of real estate developer Hiranandani Group, and his son Darshan Hiranandani in a forex violation case. It asked them to appear at the agency’s south Mumbai office on Monday. Darshan Hiranandani was informed by email as he is a non-resident Indian (NRI) and lives in Dubai, people aware of the matter told ET. The agency has registered a case against the Hiranandanis and group entities under the Foreign Exchange Management Act (Fema), they said. On Thursday, the federal agency conducted searches at four sites linked to the realty firm in and around Mumbai, including Niranjan Hiranandani’s home as well as the registered and corporate offices of group entities. “There are certain transactions with which the duo need to be confronted and therefore they have been summoned on Monday,” said an official aware of the development. Ordinarily, while summoning a person for the first time in a case, the agency allows the option of being represented through legal counsel.

Mahindra Holidays & Resorts has entered into an agreement with the Andhra Pradesh government for investing Rs 500 crore in the state and is in talks with the governments in Rajasthan, Gujarat, Tamil Nadu and Jammu & Kashmir for investment opportunities, the vacation timeshare company’s top executive said. “We are in active discussions with state governments to see if we can get land parcels or existing resorts. We could also take over and refurbish existing resorts,” managing director and chief executive Kavinder Singh told ET in an interview. “If we have to go from 5,000 to 10,000 keys by 2030, our capex is going to be in the order of Rs 4,000-5,000 crore. We are really strong on our cash position.” The Mahindra Group company has signed memorandums of understanding (MoUs) with Tamil Nadu and Uttarakhand in the past one year for investments worth Rs 1,800 crore to build new resorts.

By Rachna Uppal and Hadeel Al Sayegh