Uae Financial News

Reuters. "All flydubai flights scheduled for departure from Dubai this evening (16 April) have been canceled effective immediately until 10:00 (Dubai local time) on 17 April. During this period, passengers who do not have Dubai as their final destination will not be accepted for travel," a flyDubai spokesperson was quoted as saying.

Microsoft invested $1.5 billion into G42, an artificial intelligence (AI) company based in the United Arab Emirates (UAE). This was disclosed on April 16 as part of the Microsoft AI investment plans to expand and strengthen its position in the AI industry.

Weather update today: IMD issues heatwave alert in THESE states. Check forecast In central Iowa, a barn was demolished and other buildings were damaged after a tornado touched down in a rural area of Dallas County. The weather service also reported ping pong ball-sized hail in Bloomfield, just north of the Missouri line.

UAE braces for a second wave of unsettled weather, featuring heavy rain, thunder, lightning, and possible hail on Tuesday. The National Centre of Meteorology issued a bulletin after the initial bout of unstable conditions persisted from Monday evening to Tuesday noon, urging residents to stay informed and cautious. The second wave that starts that starts today would also witness an increase in convective cloud coverage, leading to varying intensities of rainfall, a Khaleej Times report stated.

Microsoft is investing $1.5 billion in a technology firm based in the United Arab Emirates and overseen by the country’s powerful national security adviser

The United Arab Emirates (UAE) recorded $25b in crypto transactions in 2022. Now, it is adopting accommodative regulatory policies to pursue further investment, according to a report published Monday.

Microsoft Corp. will invest $1.5 billion in a technology company backed by the United Arab Emirates, a deal that includes an intergovernmental pact to ensure artificial intelligence security as the U.S. and China increasingly compete for influence in the Gulf.

DUBAI—Saudi Arabia and other oil-rich Persian Gulf states have tried to avoid taking a position on America’s geopolitical rivalries in recent years, staying neutral in the Ukraine war and building ties with China. With Israel and Iran in open conflict, they might be forced to choose a side. Saudi Arabia and the United Arab Emirates struggled to stay on the sidelines when it became clear last week that Iran would attack Israel in retaliation for a strike in Syria that killed senior Iranian military officers.

NEW DELHI : India has allowed export of 10,000 tonnes of onion to Sri Lanka through the National Cooperatives Exports Cooperative, the Directorate General of Foreign Trade (DGFT) said in a notification late on Monday. With this, India has approved as much as 79,160 tonnes of onions for export overriding a ban on shipments imposed in December 2023. The government recently approved an additional 10,000 tonnes of onion export to the United Arab Emirates over and above the 24,400 tonnes allowed earlier.

UAE Weather: Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of the Executive Council in the United Arab Emirates (UAE) has ordered work-from-home for all employees today, April 16, NDTV reported. The decision that all Ajman government employees will work remotely on April 16 comes amid adverse weather changes in the region, it added. This ruling applies to workers in all government offices in Ajman, except for those with duties that must be done in person as decided by the competent authority in each department, it said.

Red Sea crisis and high freight rates, said EEPC India Chairman Arun Kumar Garodia. Engineering exports in FY24 rose to US$ 109.31 billion from US$ 107.04 billion in the previous financial year thus registering a growth of 2.13%. The FY24 closed on a strong note with engineering exports rising 10.66% year-on-year to US$ 11.28 billion in March this year as against US$ 10.19 billion in the same month last year.

—Name withheld on request Assuming that you were a non-resident Indian (NRI) under the Indian Income Tax Act for at least nine out of 10 financial years preceding FY24-25, you would become a resident but not ordinarily resident (RNOR) for FY 2024-25. Usually, foreign income is not taxable under IT Act for a RNOR individual. However, since you would be providing consultancy services from India, such income would become taxable in India at the normal slab rates.

Hindustan Aeronautics Ltd, Bharat Electronics Ltd, Mazagon Dock Shipbuilders, Cochin Shipyard and Data Patterns up between 11% and 36%. What’s fascinating is, the Nifty India Defence index has shot up 14% in the past month, outpacing the Nifty 50, which has seen a mere 2% rise. Presently, much of the enthusiasm in this sector is due to recent preliminary business updates from the defence equipment manufacturers.

The White House says it will provide unspecified support for Israel’s defense against an ongoing airborne attack from Iran.

ship seized by Iran's Revolutionary Guards off the UAE coast on Saturday, 17 are Indian, PTI reported citing sources. «We are aware that a cargo ship 'MSC Aries' has been taken control by Iran. We have learnt that there are 17 Indian nationals onboard,» said a source. «We are in touch with the Iranian authorities through diplomatic channels, both in Tehran and in Delhi, to ensure security, welfare and early release of Indian nationals,» it said.

Strait of Hormuz and seized the vessel Saturday, authorities said. Iran's state-run IRNA news agency acknowledged the seizure after a video seen by The Associated Press showed the commandos raiding the ship Saturday, an attack a Mideast defense official attributed to Iran amid wider tensions between Tehran and the West. The attack was earlier reported by the British military’s United Kingdom Maritime Trade Operations, which said it took place in the Gulf of Oman off the Emirati port city of Fujairah.

Dymon Asia Capital, the Singapore-based hedge fund, was opening a new office in Mumbai last time we checked. It’s been a while, however. Dymon already has offices in Hong Kong, Shanghai, Tokyo, Malaysia, and has its eyes on Dubai, with Mumbai now up and running.

Strait of Hormuz by helicopter Saturday, an attack a Mideast defence official attributed to Iran amid wider tensions between Tehran and the West. The video showed the attack earlier reported by the British military's United Kingdom Maritime Trade Operations. It had offered no details about the boarding in the Gulf of Oman off the Emirati port city of Fujairah. The defence official, who spoke on condition of anonymity to discuss intelligence matters, shared the video with the AP. Though the AP could not immediately verify it, it corresponded to known details of the boarding and the helicopter involved appeared to be one used by Iran's paramilitary Revolutionary Guard, which has carried out other ship raids in the past.

Neuberg Diagnostics is looking to raise $100 million by September, ahead of a planned public listing in two years, chairman GSK Velu said Friday. Neuberg, which runs a pan-India diagnostic chain, has appointed O3 Capital as the investment banker and is currently in talks with potential investors, Velu said in an interview. The Chennai-based company plans to use the fresh capital to expand its radiology business through acquisitions, he said. «Within two years, we want to list the company; we are doing the fundraise for some more M&A ramp up,» said Velu, also a serial entrepreneur having invested in eye care chain Maxivision. He is also the owner of medical equipment manufacturer Trivitron Healthcare and one of the key investors in Kaveri Hospitals. «With the proposed fundraise, we hope that our revenue will double in the next couple of years,» he added.

Zodia Markets’ co-founder, Nick Philpott, praised Abu Dhabi’s crypto regulations, emphasizing the “remarkable” degree of interaction with regulatory authorities in the region.