Uae Financial News

Amidst the weather warnings, Dubai Airport issued advisories, urging travelers to check flight statuses with airlines due to potential delays caused by rescheduled flights. They advised allowing extra travel time and utilizing the Dubai Metro, operational until 5 AM on Friday, for smoother commutes. Emirates Airlines echoed these precautions, cautioning travelers about possible road delays and suggesting proactive measures to mitigate travel disruptions.

Binance founder Changpeng Zhao was ordered to spend four months in prison for failures that allowed cybercriminals and terrorist groups to freely trade on the world’s largest cryptocurrency exchange.

Signup: https://www.binance.com/en-AE?ref=DUBAI Alex Chehade, General Manager of Binance FZE, emphasized the significance of this milestone, affirming, “This marks a significant step forward in our dedication to delivering secure, compliant, and top-tier services to our global user base. It highlights Dubai's forward-thinking ethos, recognizing and embracing the financial opportunities presented by blockchain technology." Binance Referral Code DUBAI gives you 20% discount on trading fees and you have the option to save 25% extra when you use BNB tokens to pay fees. The 20% discount offer is only for new users of Binance.

New Delhi: In 2019, India was among the top five economically developing countries in terms of carbon dioxide (CO2) emissions from aviation, a new research has found. Calculating «nearly real-time» aviation emissions using global flight data, researchers found that overall, the US, China and Great Britain were the topmost contributors, with 22 per cent, 14 per cent and roughly four per cent share. However, among the economically developing countries, India was found to be the third biggest contributor with close to three per cent share in global CO2 emissions from aviation, following China at 14 per cent and the United Arab Emirates (UAE) at more than three per cent. The research team at the Norwegian University of Science and Technology also found that India's share in global CO2 emissions from domestic aviation was the third highest at 1.5 per cent.

DUBAI, UAE, 1st May 2024 – In a significant development for Penguiana , a Solana-based meme project, the team has successfully closed a $200,000 seed funding round led by Nanosprout Ventures.

National Investigation Agency (NIA) has arrested another key accused in the Rs 700 crore Attari border drugs seizure case, taking the total number of arrests in the matter to eight. An official statement issued on Wednesday said the accused, Athar Saeed alias Chacha, had handled the proceeds of the drugs on the directions of the kingpin, Shahid Ahmed. Saeed was arrested on Tuesday after the NIA teams searched his premises in Delhi's Daryaganj and seized incriminating documents. The documents are being examined by the anti-terror agency to unravel the complete conspiracy behind the massive drugs racket, the statement said.

The South Korean tech giants Naver and Kakao are set to finalize their blockchain merger plans with a token launch in June.

Britain’s Telegraph newspaper group is back up for sale after a United Arab Emirates-backed consortium pulled out of a takeover bid

Changpeng Zhao, the founder of Binance, the world’s largest cryptocurrency exchange, faces sentencing in a Seattle courtroom

₹5,000 crore may be offered for developing the ecosystem for building inland vessels in the country to support movement of cargo on national waterways. Capital support may also be considered for producers of sea bound vessels at a later stage. At present 14 PLI schemes with an outlay of ₹ 1.97 trillion are under implementation for five years from FY22.

ALSO READ: India approves export of 10,000 tonnes of onion each to Sri Lanka, UAE On December 8, 2023, the Indian government had banned export of onions. The ban on export of onions was imposed to ensure adequate domestic supply against the backdrop of estimated lower Kharif and Rabi crops in 2023-24 compared to the previous year.

India and Oman will sign a trade deal in the coming months, two Indian government officials said, as New Delhi seeks to expand its ties in the Middle East, where rising tensions are putting major shipping routes at risk. «It will help India with a strategic partner and access to key trade routes in a volatile region,» one official told Reuters. India and Oman have annual trade of less than $13 billion, but the relationship is important for New Delhi as the Gulf nation is a gateway to the narrow Strait of Hormuz between Oman and Iran, a major transit point for global oil shipments.

Markets always tend to climb a wall of worry. And in 2024, investors are grappling with abundant worries. Alongside the looming elections, they now must contend with a fresh geopolitical outbreak in the Middle East. Despite this, most international markets are trading within 5% of their all-time highs. Recent weeks have been dominated by news of strife and armed conflicts. This has led to jitters in foreign flows into Asian equities, impacting India as well. Approximately Rs 25,000 crore has been pulled out by foreign institutional investors from Indian equity markets in April so far.

India's state-run firms' output from overseas oil and gas fields marginally rose in 2023-24 after declining for four straight years. The output, however, remained a fifth below the peak of 2018-19 as producing fields matured and no new overseas assets were acquired in recent years. The share of India's state companies in oil and gas production from overseas fields increased to 19.9 million metric tonnes of oil equivalent (MMTOE) in 2023-24 from 19.5 MMTOE in the previous year. Production at Russia's Skahalin-1 project normalised during the financial year, after being badly affected in 2022 following the launch of the Russia-Ukraine war. ONGC Videsh, India's largest investor in overseas oil and gas fields, has a stake in Sakhalin-1, where production had nearly halted for some time following the exit of its operator Exxon, industry executives said.

Web3 infrastructure company Elastos released a report, shedding light on Bitcoin use in people’s daily lives, irrespective of current valuation. Per the research findings, Nigeria and UAE have topped in the use of Bitcoin for daily transactions, compared to Germany and the UK. Around 20% of respondents from Nigeria use Bitcoin to conduct transactions “at least once a day,” a company statement read.

₹300 crore in FY23. Considering the growth and future potential, there is considerable inbound investor interest." Emailed queries to a company spokesperson, as well as Avendus Capital, did not elicit any response till press time. Founded in 2017 by Rajat Verma, Lohum has secured around $63 million in equity funding, and counts Baring Private Equity, Cactus Venture Partners, Venture East and Stride Ventures as its investors.

NRIs) are contributing nearly a fourth to the total residential sales at large developers, up from 7-10% before the pandemic, as top cities continue to see price appreciation and rising demand. According to developers and brokerage firms, the US, Singapore, the UAE, Australia and Saudi Arabia have emerged as big markets for them and they have dedicated teams to help buyers in selecting the projects. According to market sources, the country's biggest developer DLF in its last project Privana South in Gurugram, had achieved 25% share (about ₹1,800 crore) in NRI sales.

floods. «After the heaviest rainfall the UAE experienced in 75 years Dubai Airports is making remarkable strides in restoring and normalising operations at Dubai International Airport (DXB),» a statement from Dubai Airports said.

Dubai, UAE, April, 2024 – As frontrunners in the Mining Pool and Crypto Exchange industries, ViaBTC and CoinEx are honored to announce its sponsorship as a Gold Partner of Token 2049 Dubai on April 18-19, 2024.

Crypto adoption is heating up in the Middle East, with the average daily number of crypto traders in the area surpassing 500,000 in February 2024, according to Bitget Research.

basmati exports to the EU have consistently risen over the past three years. According to data from the Directorate General of Commercial Intelligence and Statistics (DGCIS), in FY23, India exported 152,857 metric tonnes (MT) of Basmati valued at $167 million, up significantly from 88,452 MT worth about $93.4 million. Between 1 April 2023 and 31 January 2024, India exported 130,122 MT ($168 million) of Basmati to the EU, indicating robust demand for Indian basmati in the EU market.