Uae Financial News

currency exports. It has also said that Russia has received $2.3 billion worth of dollar and euro notes since March 2022, after its army crossed the border and entered Ukraine.

A Liberian-flagged oil tanker in the Red Sea has been targeted in a third attack by suspected Yemeni rebels in their campaign of assaults over the Israel-Hamas war

Voltas on Monday posted a 160% year-on-year (YoY) jump in consolidated net profit to Rs 335 crore for the June quarter of FY25. It had clocked Rs 129 crore profit in the year-ago period. The company's income from operations increased 47% YoY to Rs 4,904 crore versus Rs 3,335 crore in the corresponding period of the preceding fiscal.

Authorities say four suspected attacks by Yemen’s Houthi rebels targeted a ship in the strategic Bab el-Mandeb Strait linking the Gulf of Aden to the Red Sea

₹1,830 crore) to the project. The tenders are yet to be put out for the auctions. Officials at the Ministry of New and Renewable Energy and the Solar Energy Corporation of India (SECI) seemed open to explore further discussions on the matter, said Susana Moreira, executive director and co-chair of the board of H2Global Foundation.

IIT Delhi's Abu Dhabi campus will offer two undergraduate courses from the new academic session commencing in September, Director Rangan Banerjee announced on Thursday. The offshore campus, established in 2023, currently offers only postgraduate courses. The two new undergraduate (UG) courses are Computer Science Engineering and Energy Engineering. A total of 60 students will be admitted to the two courses. This will include 20 students who have qualified JEE (Advanced) 2024 and 40 picked through a new entrance test called the Combined Admission Entrance Test (CAET), Banerjee said at a press conference.

Hurun India most valuable family businesses, the top three family business’ interests are valued at $460 billion, equivalent to the GDP of Singapore. The list reveals that the top three Indian business families include the Ambani, Bajaj, KM Birla, with the Bajaj family valued at Rs 7.13 lakh crore and the Birla family at Rs 5.39 lakh crore. The Ambani family tops the list with Rs 2.57 lakh crore. However, the Adani-led energy conglomerate, with a value of Rs 15.45 crore did not feature in the top 10, as it is a first-generation family business. The Adani family leads in the first-generation entrepreneur category with a valuation of Rs15.45 lakh crore. The combined value of the 2024 list stands at Rs130 lakh crore, surpassing the GDPs of countries like Switzerland and the UAE. The top three family businesses alone account for Rs46 lakh crore, equivalent to Singapore's GDP.

Dubai International Airport has seen a record 44.9 million travelers pass through its terminals in the first half of this year

Saudi oil giant Aramco has reported half-year profits of $56.3 billion, down from the year before due to weakening volumes sold amid worries about the global economy

A missile attack by Yemen’s Houthi rebels struck a container ship traveling through the Gulf of Aden, the first assault by the group since Israeli airstrikes targeted them

Draft rules for the legalisation of casinos, which include an initial 30-year casino license with a 10-year renewal option, have been published for public feedback until August 18. The casinos will be part of large entertainment complexes featuring hotels, convention centers, and amusement parks, among other amenities. Thailand would thus join the ranks of the United Arab Emirates and Japan in vying for a share of the global casino industry, estimated to have generated $263 billion in revenue last year. Major players like Galaxy Entertainment Group Ltd. and MGM Resorts International have shown interest in opening casino resorts in Thailand, considering it a strategic move against the uncertain prospects in Macau. Las Vegas Sands Corp. expressed interest in entering the Thai market, stating last month it would consider expanding to Thailand if the opportunity arises.

citizenship in 2023, the Congress on Saturday said the exodus of high-skilled and high net worth Indians is an "economic travesty" that will shrink the country's tax revenue base over the next few years. Congress leader Jairam Ramesh said business personalities are increasingly relocating to places such as Singapore, UAE, the UK and other places renouncing their Indian citizenship. In a written response to queries on Indian citizens who have renounced their citizenship, Minister of State for External Affairs Kirti Vardhan Singh recently told the Rajya Sabha that more than 2.16 lakh Indians renounced their citizenship in 2023. Ramesh, the Congress general secretary in-charge communications, said the number was almost double than what it was in 2011, at 123,000.

A Montenegrin appeals court has upheld a ruling by a lower court to hand over a South Korean mogul known as “the cryptocurrency king” to his native country

Supreme Court has sought response from the government, the Directorate General of Foreign Trade (DGFT), National Cooperative Exports Ltd and others on a plea challenging validity of two notifications prohibiting the export of non-basmati white rice since July 20. The petitioner, Rika Global Impex Ltd, has also challenged the DGFT's notification of September last year allowing export of 75,000 MT of non-basmati white rice to the United Arab Emirates only through the National Co-operative Exports Ltd. A Bench led by Justice B.V. Nagarathna also issued notice to the customs department on Rika’s petition alleging that the notifications were «ultra vires» to the Foreign Trade Policy, 2023 and liable to be set aside on account of «doctrine of legitimate expectation.”

Bitcoin (BTC) remains under pressure around the $66,396 level, with recent trading hitting an intra-day low of $65,400.

self-employed people and skilled employees are eligible to apply for a Green Visa.Freelancers and self-employed people who wish to apply for a Green Visa will be required to submit a freelance/self-employment permit from the Ministry of Human Resources and Emiratisation.Apart from an employment permit, proof of a bachelor’s degree or a specialised diploma will be required, along with evidence of annual income from self-employment for the previous two years amounting to not less than AED 360,000 or proof of financial solvency throughout their stay in the UAE.The skilled employees will be required to submit a valid employment contract. They must be classified in the first, second or third occupational level, according to the Ministry of Human Resources and Emiratisation.The first occupational level consists of legislators, managers, and business executives.

mechanism to allow trade settlement in rupees. An important headway came in December 2023 with India’s first-ever rupee payment for oil from the United Arab Emirates, a major trading partner. Earlier, an RBI panel also gave recommendations, some of which led to the central bank announcing in May a plan to allow non-residents to open rupee accounts.

Russian lawmakers passed a bill on Tuesday, July 30 allowing businesses to use cryptocurrencies in international trade, a move aimed at circumventing Western sanctions imposed following Russia’s invasion of Ukraine.

A Canadian graphite miner has moved its headquarters outside the country to attract new investment as the federal government raises the bar for certain foreign companies to buy into Canada’s critical minerals sector.

Qatar is progressing towards establishing a crypto framework, which will legally recognize digital assets as part of its strategy to bolster the country’s digital economy.

Dubai gold odyssey for Indian shoppers, say Indian jewellers, who also operate stores in the UAE.