Uae Financial News

Icra Ltd expects India’s monthly trade deficit to stand at about $20 billion–$25 billion in the remaining months of FY24, resulting in a current account deficit of around 2.5% of GDP in Q3 and 1.7% of GDP in Q4FY24. “The exports dipping by 5% and imports dropping by 7% in first 10 months of the fiscal is largely an outcome of global slowdown and drop in commodity prices as well.

UAE-based blockchain mining firm Phoenix Group said it has seen a 50% growth in net income and a “substantial increase” in year-on-year sales following its initial public offering (IPO) on the Abu Dhabi Stock Exchange.

Mint. However, a pick up in the purchase of gold is expected during the second half of the year, as good monsoons are likely to see a spurt in the demand for the yellow metal and as consumers adjust to higher prices, Somasundaram said. "There is going to be a spurt in demand for gold after general elections, as people will have more money in hand," he added.

Explosions have struck a natural gas pipeline in Iran

Hamas. PM Modi met with UAE leader Sheikh Mohammed bin Zayed Al Nahyan on Tuesday in Abu Dhabi, where the war and conflict in the Red Sea featured heavily in discussions, according to India’s Foreign Secretary Vinay Kwatra. Both leaders agreed, though, to take the first step to operationalize part of the ambitious India-Middle East-Europe Economic Corridor, or IMEC, he said.

Narendra Modi ceremoniously unveiled the first Hindu Mandir in Abu Dhabi on February 14, 2024. His address following the inauguration encompassed a range of sentiments, from requesting a standing ovation for UAE President Mohammed bin Zayed Al Nahyan to embracing the identity of a devotee of Mother India, as he referred to himself as «Maa Bharti ka Pujari.» Here's a breakdown of the key points from PM Modi's Abu Dhabi speech. UAE's Golden Chapter During the inauguration, Modi praised the UAE's leadership, stating, «The UAE has written a golden chapter» by allowing the construction of the temple. He acknowledged the years of hard work and dreams invested in the project, emphasising its spiritual significance for the Hindu community. He also mentioned the blessings of Swaminarayan, the founder of the BAPS movement.

Mandir in Abu Dhabi is witnessing an overwhelming influx of people, resonating with enthusiastic «Modi-Modi» chants, as they eagerly await the historic inauguration ceremony by Prime Minister Narendra Modi today. As the first Hindu temple in Abu Dhabi, the BAPS Mandir has become a focal point of cultural and spiritual significance, drawing devotees from various corners. The atmosphere is charged with excitement as the faithful gather in huge numbers to witness the culmination of years of dedication and hard work that have gone into the construction of this magnificent temple.

Narendra Modi on Wednesday met his UAE counterpart Sheikh Mohammed bin Rashid Al Maktoum, and discussed a wide range of areas of bilateral cooperation including trade and investment. «Strengthening India-UAE Comprehensive Strategic Partnership! PM @narendramodi met VP & PM of UAE @HHShkMohd in Dubai. Discussions covered a wide range of areas of bilateral cooperation including trade & investment, technology, education, and people-to-people ties,» said a post on the official X handle of the Ministry of External Affairs (MEA). In another meeting with Madagascar President Andry Rajoelina, Modi reaffirmed India's commitment to further strengthen India-Madagascar partnership and help in the developmental journey of his island nation. A first meeting between the two leaders, Modi and Rajoelina met on the sidelines of the World Governments Summit here.

Chinese ‘Dragon Mart’ facility. It will serve as a warehousing facility for Indian MSMEs to trade in Dubai and work as a unified platform for Indian exporters to showcase their products in the Gulf nation. Like Dragon Mart, India's Bharat Mart is still in the conceptual stages and will be visually launched.

Modi emphasized the importance of inclusive and corruption-free governance on Wednesday, stating that such leadership is crucial in the contemporary world. Speaking at the World Governments Summit during his visit to the UAE, PM Modi reiterated his longstanding principle of 'minimum government, maximum governance'. He highlighted the growing trust of the Indian populace in the government's integrity and dedication over the past few years. «People have trust in the intent and commitment of the Indian government. This was possible only because we prioritized public sentiments,» Modi stated during his address.

UPI payments are accepted in France, UAE, Singapore, Bhutan, and Nepal. After the announcement, MyGovIndia shared a world map, highlighting the countries where Indians can use UPI to make payments. UPI is India's mobile-based fast payment system, allowing customers to make instant payments round-the-clock using a Virtual Payment Address (VPA).

Narendra Modi is set to inaugurate Abu Dhabi's first Hindu stone temple, a momentous occasion showcasing architectural grandeur and cultural unity. The temple, built by the BAPS Swaminarayan Sanstha, stands as a symbol of India's rich heritage and the strong bonds between India and the UAE. Architectural Marvel Situated on a 27-acre site in Abu Mureikhah near Al Rahba, the temple is a stunning display of craftsmanship. The facade features exquisite marble carvings set against a backdrop of pink sandstone from Rajasthan, with more than 25,000 pieces of stone meticulously crafted by skilled artisans from Rajasthan and Gujarat.

PM Modi to inaugurate Swaminarayan sect’s BAPS temple in Abu Dhabi, UAE: Prime Minister Modi will inaugurate UAE's historic BAPS Swaminarayan Mandir in Abu Dhabi on February 14, marking a significant moment for the city's Hindu community. Public access begins March 1st. PM Modi to visit Doha, bilateral meeting with Emir of Qatar: Prime Minister Narendra Modi will travel to Doha, Qatar, on Wednesday after concluding his visit to the United Arab Emirates (UAE), foreign secretary Vinay Mohan Kwatra said at a press conference on Monday.

UAE temple opening LIVE updates: Prime Minister Narendra Modi will inaugurate the BAPS Swaminarayan Mandir on Wednesday in Abu Dhabi. BAPS represents a socio-spiritual Hindu faith rooted in the Vedas, pioneered by Bhagwan Swaminarayan in the late 18th century and formally established in 1907 by Shastriji Maharaj.The proposal of the Hindu temple in Abu Dhabi came during the first visit of PM Modi to the UAE in 2015 after which the government allocated land for the BAPS temple.

PM Modi. He also noted that the strong ties between the two nations serve as a model for international cooperation. PM Modi is set to participate in the World Government Summit 2024 which will be held in Dubai as a Guest of Honour and deliver a special keynote address at the Summit.

PM Narendra Modi and President Sheikh Mohamed bin Zayed Al Nahyan in Abu Dhabi. The BIT will be a key enabler for further promoting investments in both countries. India has signed both BIT and Comprehensive Economic Partnership Agreement with the UAE. The agreement on interlinking of the instant payment platforms — UPI (India) and AANI (UAE) — will facilitate seamless cross-border transactions between the two countries. This follows the MoU on interlinking payment and messaging systems signed in July last year during PM Modi's visit to Abu Dhabi.

Indian Prime Minister came as the relations between both nations are at an all-time high with trade reaching over $85 billion in 2022-23. Among the Gulf nations, UAE has the largest Indian expatriate community with 3.5 million Indian nationals living in the country. 1.

Indian community greeted Prime Minister Narendra Modi as he reached the hotel on the first day of the two-day visit to Abu Dhabi on Tuesday. Modi reached here earlier in the day to participate in the 'Ahlan Modi' ('Hello Modi' in Arabic) and address the large Indian community at the Zayed Sports City Stadium here later in the evening and on Wednesday would be inaugurating the largest Hindu temple in the UAE. As Modi reached the St Regis hotel after a bilateral meeting with Sheikh Mohamed bin Zayed Al Nahyan, the President of the UAE, men, women and children alike, all dressed in their colourful best traditional wear, gathered on a flight of steps at the hotel lobby and also overlooking from the first-floor lobby, engaged in cheerfully shouted slogans such as 'Modi Hai Toh Mumkin Hai,' 'Har Ghar Modi, Ghar Ghar Modi' and even 'Ahlan Modi.' Modi responded by waving back at them.

Narendra Modi on Tuesday told the Indian diaspora at the 'Ahlan Modi' event in Abu Dhabi that he has come to meet his family members in the gulf country, adding that he has brought the fragrance of the soil where they were born. The Indian prime minister, who was addressing the Indian diaspora at Sheikh Zayed Stadium said that he has brought the message of 140 crore brothers and sisters of the country where they (the Indian diaspora) were born and the message is that India is proud of them, they are the pride of Bharat. Thanking UAE's President Sheikh Mohamed bin Zayed Al Nahyan for the warmth and hospitality extended to him, the prime minister said India-UAE relations reaching unprecedented heights, and both the countries are partners in each others' progress.

₹10,000 every month in an equity mutual fund (MF) for 20 years, they would get around ₹1 crore assuming an annual growth rate of 12%. However, the gains would be subject to 10% long-term capital gains taxation, which would be around ₹7.6 lakh. Debt MFs are taxed at a higher rate based on the investor’s income tax slab rate.

NEW DELHI : India and the UAE concluded a bilateral investment agreement and also signed a framework agreement on the India-Middle East Economic Corridor (IMEC) during Prime Minister Narendra Modi’s two-day visit to the UAE. Modi met with his counterpart, UAE president Mohamed bin Zayed Al Nahyan, on Tuesday for both one-on-one and delegation-level talks. The bilateral investment agreement came after the two countries signed their Comprehensive Economic Partnership Agreement (CEPA) in 2022.