Uae Financial News

Sheikh Mohammed bin Rashid Al-Maktoum on Sunday announced he appointed his son, the emirate's crown prince, as defence minister of the United Arab Emirates in a cabinet reshuffle. "Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum has joined the government of the UAE as Deputy Prime Minister and has been appointed Minister of Defence," Sheikh Mohammed, who is the UAE's prime minister, wrote on X. Sheikh Hamdan, 41, is the second son of Sheikh Mohammed and has held the title of crown prince of Dubai since 2008.

Red Sea crisis and ongoing war between Ukraine-Russia and Israel-Hamas. E-commerce exports are growing rapidly and those done through the postal and courier routes are pegged at $1.5 billion. Here's a look at the challenges the export sector is facing and its budget wishlist. India's goods and services exports in FY24 were at an all-time high of $778.2 billion, up 0.23% from $776.4 billion in 2022-23 (goods USD 437.1 billion and services USD 341 billion). Key issues in India's export saga;

A suspected attack by Yemen’s Houthi rebels has targeted a Liberian-flagged tanker in the narrow Bab el-Mandeb Strait

Blockchain Life 2024, one of the world’s leading events in web3, cryptocurrencies and mining sphere, today announced the first wave of its esteemed speaker lineup for the 13th edition of the event. Bringing together over the 10,000 most influential figures from all over the world on October 22-23, the Blockchain Life 2024 promises to deliver powerful insights on making money during the current Bull Run.

Tour de France is like a three-week festival, with the cyclists going through an endurance run over a period of 21 days. Tour de France 2024 has already started on June 29 and will continue until July 21, when top cyclists from all across the globe will finish their course in Nice, France, which is a slight change from the traditional Paris finish.

India and the UAE in a key defence meeting have deliberated on the regional security situation, including maritime security, and underscored the need to «enhance collaboration» to tackle security challenges. During the 12th edition of the Joint Defence Cooperation Committee (JDCC) meeting between India and the UAE held in Abu Dhabi on Tuesday, the two sides also discussed a wide range of opportunities for collaboration to further strengthen defence and security cooperation, the defence ministry said in a statement here. «During the meeting, the two sides discussed a wide range of opportunities for collaboration to further strengthen defence and security cooperation between the two countries,» it said. Detailed discussions were held in areas such as training, joint military exercises, defence industrial cooperation, subject matter expert exchange and research and development.

Indian tourists and Non-Resident Indians (NRIs) visiting the UAE, providing them with a seamless and secure method to make transactions using UPI, as announced by NPCI International. Network International is a leading facilitator of digital commerce across the Middle East and Africa (MEA) region. The company operates a network of over 200,000 point-of-sale (POS) terminals, which serve more than 60,000 merchants in diverse sectors such as retail, hospitality, transport, and supermarkets. This wide-ranging network will now support UPI payments, offering Indian visitors a familiar and convenient payment method while abroad. The rollout of UPI acceptance will be progressive, eventually covering a broad spectrum of establishments. These will include retail stores, dining outlets, and various tourist and leisure attractions, notably popular destinations like Dubai Mall and Mall of the Emirates. This phased implementation aims to ensure a smooth transition and widespread availability of UPI payment options across the UAE.

Abu Dhabi has been named in honour of Dr George Matthew, a UAE citizen of Indian origin, in recognition of his remarkable contributions to the emirate's healthcare sector over nearly 60 years, as reported by Khaleej Times. Dr Matthew, now 84 years old, first arrived in the UAE in 1967 as a 26-year-old, long before the country's unification. Over the past six decades, he has played a pivotal role in shaping Abu Dhabi's healthcare system, witnessing its transformation from its early days to its current state. Notably, he was the first doctor to work in a government hospital in Al Ain, leaving a lasting impact on the country's medical landscape, as reported by Khaleej Times.

Indians in Qatar will be able to scan a QR code and make payments via UPI as NPCI International Payments (NIPL) has signed an agreement with QNB, the largest financial institution in the Middle East and Africa, headquartered in Qatar. «We believe that enabling UPI acceptance in Qatar will offer substantial benefits to the large number of Indians visiting the country and simplifying their transactions,» said Anubhav Sharma, deputy chief of partnerships and business development at NPCI International. The number of Indian tourists travelling to the Gulf Cooperation Council (GCC) countries is projected at 9.8 million in 2024, with the UAE anticipating 5.29 million arrivals from India, a release from NPCI said.

Cosmoverse is back with its fourth annual conference in Dubai this year. Building on three successful years, Cosmoverse continues to showcase the thriving Cosmos-SDK ecosystem and its potential to cultivate a multichain future for greater global collaboration.

Yemen’s Houthi rebels likely fired an Iranian-made anti-ship cruise missile at a Norwegian-flagged tanker in the Red Sea in December, an assault that now provides a public, evidence-based link between the ongoing rebel campaign against shipping and Tehran

Indian imports rose to 42% in June from 37% in May and was more than the combined share of the next four largest suppliers, according to energy cargo tracker Vortexa. Crude imports from Russia jumped 13% in a month to 1.92 million barrels per day (mbd) in June. Russia's share in Indian imports exceeded the combined share of Iraq (16%), Saudi Arabia (8%), the UAE (8%) and the US (7%). Supplies from Iraq dropped 22% in a month to 754,000 barrels per day (bpd) in June and imports from Saudi Arabia fell 36% to 386,000 bpd. Supplies from the US, however, rose 63% to 330,000 bpd.

Mint examines this question and more. The Shanghai Cooperation Organisation (SCO) was formed in 2001. It evolved from an earlier avatar known as the Shanghai Five, comprising Russia, Kazakhstan, Kyrgyzstan, Tajikistan and China.

Women's Asia Cup T20, which is set to take place in Dambulla, Sri Lanka from July 19. Harmanpreet Kaur will once again lead Team India in the tournament, with star opener Smriti Mandhana playing the role of her deputy. The ninth edition of the Women's Asia Cup will be played from 19 to 28 July in Sri Lanka in the T20 format.

An attack by Yemen’s Houthi rebels has targeted a ship in the Gulf of Aden

Comments suggesting that Iran's reformist presidential candidate could increase government-set gasoline prices have raised fears of a repeat of nationwide protests

MUMBAI : Mumbai: Some of the world’s largest sovereign wealth funds, including Singapore’s GIC Holdings Pte. Ltd, Abu Dhabi Investment Authority, and Kuwait Investment Authority, have significantly increased their investments in Indian stocks and startups the past few years. These three funds held a collective ₹5 trillion, or nearly $60 billion, in Indian stocks as of 31 March, show data compiled by Mint.

Dubai Customs on Monday launched a new system using blockchain to improve trade. This will make things faster and clearer for businesses, inside Dubai and across borders. It marks a big step for the city’s digital plans and will help government and logistics companies work together better.

Crypto firm Paxos has received full approval from Monetary Authority of Singapore (MAS) to offer digital payment token (DPT) services.

The firms did not disclose the transaction value, but BitOasis said in a separate statement that CoinDCX, which had already acquired a stake in the business last year, now owns the full share capital of the Dubai-based company.

Kriti Sanon has acquired 2,000 sq ft land at realty firm The House of Abhinandan Lodha's premium project at Alibaug in Maharashtra. In a statement, The House of Abhinandan Lodha on Thursday said Sanon has acquired 2,000 sq ft of land in its premium project, Sol de Alibaug, about 60 minutes from South Mumbai by sea. The recently inaugurated MTHL connectivity further enhances convenience, making this project an even more attractive choice for those seeking a sophisticated retreat in Alibaug's real estate landscape. Speaking on her first investment with HoABL, Kriti Sanon said, «Buying land on my own has been quite an empowering journey and I have had my eyes on Alibaug, for a while.»