Uae Financial News

Electric vehicle maker Wardwizard Innovations & Mobility is planning to expand operations as it looks to cater to enhanced demand in both domestic and international markets, Chairman and Managing Director Yatin Gupte said. The Vadodara-based company is setting up a new assembly plant in Sharjah in the UAE to cater to African markets, including Egypt. It has also set up an assembly plant in Deoghar, Jharkhand to cater to the growing demand for electric vehicles (EVs) in markets like Bihar, Jharkhand, West Bengal and Odisha. In an interaction with PTI, Gupte said the company is setting up the assembly plant in Sharjah in collaboration with the BEEAH Group.

Ramadan started on March 24 and finished on April 21. In countries like United Arab Emirates, Bahrain, Kuwait, Lebanon, Oman, Pakistan, Saudi Arabia, UK, US, Turkey, Maldives, Ramadan is likely to start on 11 March. In India, Bangladesh, Indonesia, Egypt, Ramadan is likely to start from 12 March, a report by Hindustan Times has states.

₹700 crore. These guidelines are necessary to be followed “to preserve the tranquil ambience and ensure the orderly management of our premises," the temple authorities said.

By Emma Farge and Rachna Uppal

Business activity in India's manufacturing sector is showing signs of improvement. The seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index (PMI) rose to 56.9 in February from 56.5 in January. A figure above 50 indicates expansion.

India Q3 GDP data: Indian economy grows by 8.4% in Dec quarter driven by construction, manufacturing sector Asia's third-largest and the world's fastest-growing major economy expanded 8.4% in the October-December quarter, partly helped by a surge in manufacturing, according to data released by the government on Thursday. That growth rate was much stronger than the 6.6% expansion predicted in a Reuters survey, where the highest forecast was 7.4%. The manufacturing sector, which accounts for 17% of India's economy, expanded 11.6% year-on-year last quarter.

Red Sea operations, the Iran-aligned group's leader Abdul Malik al-Houthi said in a televised speech on Thursday. Houthi militants have repeatedly fired on international commercial ships since mid-November in solidarity with Palestinians over the Israel-Hamas war in Gaza.

The newly launched IOTA Ecosystem Foundation is committing $10 million to early-stage startups focused on tokenized trading for real-world assets (RWAs).

Pilots lined up on a runway in Dubai and fired up their seven jet engines with an ear-splitting roar

PTI. Mittal receives a KBE under the Most Excellent Order of the British Empire – one of the highest honours conferred by a British monarch., according to the list of honorary British awards unveiled by the UK Cabinet Office, The 66-year-old entrepreneur said in a statement that he was ‘deeply humbled’ by the gracious recognition from King Charles. “The UK and India have historical relations, which are now entering a new era of increased cooperation and collaboration.

Ukrainian President Volodomyr Zelenskyy has arrived to Saudi Arabia and met the kingdom’s powerful crown prince to push for a peace plan and the return of prisoners of war from Russia

Article 370 Box Office Collection Day 4: Yami Gautam's new Bollywood movie, Article 370, managed to pass the Monday test and earned ₹3.25 crore net at the box office. The movie, directed by Aditya Suhas Jambhale and produced by Jio Studios and B62 Studios, has received positive responses from critics and audiences alike. The movie opened on February 23 with ₹5.9 crore net collections.

Suzhou, China, has reported that more than 29.16 million residents now have digital yuan wallets, as the nation’s CBDC project continues to gather pace.

International tax treaties can be extremely confusing for the layman. That is because the provisions in such treaties are drafted in a very convoluting manner. And it is not just the layman who is confounded.

₹2.25 Crores (AED 1 million) to ensure the release of 900 prisoners from jails across the Arabian nation," said a statement from his office. Under the aegis of The Forgotten Society initiative founded in 2008, Merchant has already been instrumental in obtaining the release of 900 prisoners across the UAE since the beginning of 2024, including 495 prisoners from Ajman, 170 prisoners from Fujairah, 121 prisoners from Dubai, 69 prisoners from Umm Al Quwain and 28 from Ras Al Khaimah. In conjunction with the Director Generals of Police at the Central Jails across the UAE, Merchant has already succeeded in obtaining the release of over 20,000 prisoners over the years from a wide range of denominations, nationalities, and religions.

Goldman Sachs and Mubadala Investment Company have signed a $1-billion separately managed account in which Mubadala and Goldman Sachs will co-invest in private credit opportunities throughout the Asia Pacific region, said a joint statement. The Partnership will be managed by Private Credit at Goldman Sachs Alternatives, with a dedicated on-the-ground team across multiple Asia Pacific markets. The global Private Credit team consists of 165 credit investment professionals overseeing more than $110 billion in assets under management (AUM).

The head of the World Trade Organization says war, uncertainty and instability are weighing down the global economy

Building coalitions with other WTO members will help India push for the adoption of open and interoperable payment systems like UPI with a view to cut the cost of money transfers or remittances, a report by think tank GTRI said on Monday. The dominance of a few large players in the market contributes to these high costs, through complex and opaque fee structures, the GTRI said.

World Trade Organization (WTO) beginning Monday in Abu Dhabi, the G-33 group of countries, which includes India, has urged members to achieve an outcome on public stockholding for food security purposes. Ministers and Representatives of the G-33 members who met yesterday in United Arab Emirates on the sidelines of the four-day Ministerial Conference (MC) called on all WTO Members to engage constructively to achieve a meaningful outcome on agriculture. The G-33 group, which includes 47 developing and least developed countries (LDCs) and Net Food Importing Developing Countries (NFIDCs), issued a joint statement on February 25, after the meeting coordinated by Indonesia.

finance companies scouting for foreign equity, startups hurt by funding winter, and private equity and venture capital funds wooing overseas investors would enjoy the spinoffs from the United Arab Emirates (UAE) shedding the stigma of being in the ‘grey list’ of the global anti-money laundering watchdog. Last Friday, the Financial Action Task Force (FATF), the inter-government body which leads the action to combat illegal and suspicious fund flows, removed UAE from the category of “jurisdictions under increased monitoring” — better known as the grey list. The country was put on the grey list in March 2022. The development would make it easier for UAE investors and lenders to bet on businesses in India as the regulatory dos and don’ts attached to inflows from FATF grey list countries would no longer be applicable. Besides, money flowing in from such destinations are subject to closer scrutiny by banks handling remittance and fund custodians.

An international watchdog says it's removing the United Arab Emirates from its so-called gray list of countries that don’t take full measures to combat money laundering and terrorism financing