Uae Financial News

«FPI inflows have shown a positive trend as compared to the previous month. Thanks to the recent announcement of Q3 GDP numbers at 8.4 per cent, persistence performance of large Indian corporates being major factors for turning the tide green for the Indian equity market,» Manoj Purohit, Partner and leader — FS Tax, Tax and Regulatory Services, BDO India, said.

Also Read | Miss World 2024: Krystyna Pyszkova from Czech Republic wins the crown, says ‘something I was working on for so long’ Ramadan is the ninth month of the Islamic lunar calendar, and for Muslims worldwide, it's a time of deep spiritual reflection, fasting from dawn to dusk, increased prayer, and charity. Muslims abstain from food, drink, and other sensual activities during daylight hours, focusing on their connection with Allah (God) and strengthening their self-discipline. Ramadan culminates in the joyous Eid al-Fitr celebration.

By Nidal al-Mughrabi and Michele Kambas

India is set to tie duty reductions associated with the trade agreement with the European Free Trade Association (EFTA) to investments made by companies from member nations, including Switzerland, Norway, Iceland, and Liechtenstein, reported TOI. These nations have collectively pledged to invest $100 billion over a span of 15 years. The FTA is scheduled to be signed on Sunday following its clearance by the Union cabinet on Thursday evening. Negotiations for the agreement commenced in 2008 but were halted after the Modi government assumed office in 2014, as per a TOI report.

three of its four leases in the Butler Valley Basin would not be renewed. Fondomonte was simultaneously notified that the fourth lease would be canceled as well.

Matt White, CEO of Dubai’s Virtual Assets Regulatory Authority (VARA), sees the Financial Action Task Force’s removal of the UAE from the grey list as a positive move, clearing the way for increased crypto-related investments.

(Reuters) -Abu Dhabi wealth fund ADQ has chosen advisers, including HSBC Holdings (NYSE:HSBC), Citigroup and First Abu Dhabi Bank, for a potential initial public offering of Etihad Airways, Bloomberg News reported on Thursday.

Saudi Arabia’s crown prince has transferred another 8% of shares in the kingdom’s oil giant Saudi Aramco to the country’s prominent sovereign wealth fund

The Middle East franchisee of Starbucks has begun firing some 2,000 staff at its coffee shops across the region after the brand found itself targeted by activists during the ongoing Israel-Hamas war in the Gaza Strip

A suspected attack by Yemen’s Houthi rebels on a ship in the Gulf of Aden caused “fatalities” Wednesday

Abu Dhabi-based Etihad Airways says it saw a $143 million in profit last year, citing an increase in passengers as fueling the gains

By Nafisa Eltahir and Jana Choukeir

India and the UK are in the final stages of negotiating a free trade agreement with time running out as New Delhi gets ready to hold general elections in the next two months. A team of British trade negotiators is visiting New Delhi to iron out differences on India's demand for more visas for its workers and a social security agreement, and UK's asks for access in India's government procurement and inking a bilateral investment treaty before a trade pact. Officials said most talks have been completed at the negotiator level and a final decision on signing the FTA now rests with the two governments.

non-resident Indians, who don't own an Indian phone connection, one UAE fund decided to use a fake phone number to file for a tax exemption with Income Tax authorities only to be rebuffed. According to chartered accountants, the fake phone number — 9999999999 — is regularly used by non-residents to file their returns. In the case of the Abu Dhabi Investment Authority (ADIA), the number was flagged by tax authorities who doubted the veracity of the firm, having used the caller identification app Trucaller to find the 10-digit number marked as a spam caller.

growth in new orders and output led to service activity easing to 60.6 in February compared with 61.8 in the previous month, according to results of a private survey released Tuesday. The seasonally adjusted HSBC India Services Business remained above the 50 level, which separates expansion from contraction, but a milder growth affected business outlook. “Due to a slowdown in growth in new orders and output, services companies’ outlook for future business activity, while remaining strongly positive, weakened slightly,” said Ines Lam, economist, HSBC.

Three cables under the Red Sea that provide global internet and telecommunications have been cut as the waterway remains a target of Yemen’s Houthi rebels

barriers to commerce, ensure stability through global accords and enforce the rules came under renewed criticism following a chaotic and contentious meeting of its top officials. The 13th ministerial conference in Abu Dhabi last week laid bare an uncomfortable truth: For an organization that needs all 166 member countries to agree, the WTO again struggled to muster even a small win. Those are only getting messier and harder to pull off in an era of two armed conflicts, widening geopolitical gulfs and a realignment of the trading ties that bind the postwar economic order. Meetings in the capital of the United Arab Emirates — positioned both geographically and geo-economically between US-European Union and China-Russia alliances — were dominated by disorder and confusion, according to several participants, who asked not to be named speaking about the private talks. They’re rarely jovial affairs, but hopes were quickly dashed that this year would be a turning point toward unity.

HCL Group has invested Rs 166 crore to acquire a minority stake in education software company Educational Initiatives (Ei) This is a part of the secondary stake sale, where HCL Group has acquired a portion of the stake held by Mumbai-based private equity firm Gaja Capital in Ei.

Some members of oil cartel OPEC, led by Saudi Arabia, and allied producers like Russia are again deepening their voluntary crude supply cuts

Negotiators taking part in a World Trade Organization meeting in the United Arab Emirates have ended their summit after failing to reach agreements on several major initiatives

India's move to block a China-led investment facilitation pact in the recently concluded WTO ministerial meeting in Abu Dhabi will help promote multilateral agreements in the 166-member global trade watchdog, according to experts. The ministerial conference (MC), the highest decision-making body of the World Trade Organisation (WTO), concluded late night on March 1. The talks, which were to end on February 29, got extended by almost two days due to a logjam among members on key issues like agri, fisheries subsidies and the e-commerce moratorium. International trade experts stated that India's principled stand in opposing the addition of the IFDA (Investment Facilitation for Development Agreement) into the WTO is based on its longstanding support for multilateralism. A group of over 120 nations, led by China, tried to push the IFDA to integrate into the WTO as a plurilateral agreement at the 13th MC meet in Abu Dhabi, UAE.