Uae Financial News

middle class is its future.” That seems to be coming true, if not fully, at least partially. India’s growing middle class is set to be in the pilot’s seat, steering change in the way it travels.

Brookfield Asset Management Ltd. is in talks to invest in Dubai-based GEMS Education, one of the world’s largest private school operators, people familiar with the matter said.

Al Nahyan royal family of Dubai has emerged as the wealthiest dynasty globally. Boasting a monumental ₹4,078 crore presidential palace, a fleet of private jets, and ownership of the famed Manchester City football club, this family epitomizes unparalleled affluence on the world stage. At the helm is UAE President Sheikh Mohamed bin Zayed Al Nahyan, or MBZ, overseeing a vast family network comprising 18 brothers, 11 sisters, nine children, and 18 grandchildren.

The U.S. hit a United Arab Emirates shipping firm and its 18 vessels with sanctions after it transported Russian crude oil above the $60 per barrel price cap

OSLO (Reuters) -Weather-related disruption at ports in northern Europe and the diversion of vessels away from the Red Sea are causing congestion at container terminals, A.P. Moller-Maersk said in an update to customers on Thursday.

Dubai, UAE – January 17, 2024

OKX, one of the world's largest cryptocurrency exchanges, has been granted a regulatory licence in Dubai that will allow it to offer crypto services to retail clients, the company said on Tuesday. Dubai's Virtual Assets Regulatory Authority (VARA) has awarded OKX Middle East a Virtual Asset Service Provider (VASP) licence for exchange services. When operational, it will enable OKX to provide spot services and spot-pairs services to qualified retail clients, as well as institutional customers. The United Arab Emirates is pushing to become a global hub for the crypto industry. VARA was formed in March 2022 to regulate the emerging virtual asset sector in Dubai. «We are looking at this as a game changer because we are able now to target both retail and institutional clients in the UAE and allow them to deposit and withdraw in their local currency,» Rifad Mahasneh, OKX General Manager for the MENA region, told Reuters.

A Russian senator has claimed the nation’s Central Bank is “turning a blind eye” to firms that use crypto as a payment tool in international trade.

₹ 3,605.7, hit on Monday. On Tuesday, L&T said that its construction arm has bagged a “mega" order, valued between ₹ 10,000 crore and ₹ 15,000 crore for constructing a high-speed electrification system for the Mumbai-Ahmedabad bullet train project. This significant domestic contract is expected to bolster L&T’s order book and revenue stream.

SAW on Tuesday reported an over twofold growth in its third-quarter profit, as demand in the Middle East and North Africa (MENA) region remained steady and its order book grew. The company posted a consolidated profit after tax of 5.32 billion rupees ($64.1 million) for the quarter ended Dec. 31, 2023 from 2.14 billion rupees a year ago. The company, which makes pipes for the energy, transportation and water sectors, said its order book for iron & steel pipes rose to $1.49 billion from $1.32 billion a year ago. «Higher exports, improved volumes and range-bound raw material prices have contributed towards margin improvement,» the company said in a statement. Exports accounted for over 35% of its order book, which analysts said helped offset the effect of falling domestic steel prices, as global prices remained elevated. Its UAE-based unit recorded an order book of $135 million.

Jio Financial Services: The company recorded a consolidated profit of ₹293.82 crore for the December quarter, against ₹668.2 crore in the previous quarter. Revenue from operations came in at ₹413.6 crore against ₹608 crore during the previous one as the company had no dividend income in the quarter, against ₹216.85 crore in the previous one. NALCO & Hindustan Copper: Khanij Bidesh India Ltd (KABIL), a joint venture between NALCO, Hindustan Copper, and Mineral Exploration Co.

Competition Commission of India (CCI) on Monday cleared Seventy Second Investment Company's proposed stake acquisition in Manipal Health Enterprises. The deal has been approved under the green channel route. Manipal Health Enterprises operates a network of hospitals providing multi-specialty care.

MUMBAI : Lenders to Go First have set January 31 as the deadline for financial bids to acquire the airline, two banking sources said on Sunday. Go First filed for bankruptcy protection in May but lenders have more recently been considering liquidating the airline after failing to secure new investors.

Go First have set Jan. 31 as the deadline for financial bids to acquire the airline, two banking sources said on Sunday. Go First filed for bankruptcy protection in May but lenders have more recently been considering liquidating the airline after failing to secure new investors. «Banks have decided to give the resolution process another go and allow those suitors who have shown prior interest a chance to submit a concrete bid,» said a banker with a state-run bank that has exposure to Go First. Indian carrier SpiceJet said last month that it was considering an offer for Go First after conducting due diligence.

He is very good with the ball, but what does he bring with the bat? Or as a fielder? In the Test team, yes, he should be there. But in white-ball cricket, I don't think he deserves a place," Yuvraj Singh told Times of India. Things started going downhill for Ravichandran Ashwin in 2017 when younger spinners like Yuzvendra Chahal and Kuldeep Yadav replaced him in the Indian squad.

Prevention of Money Laundering Act (PMLA), PTI reported. They were presented before a special court in Raipur on January 12, and the ED lawyer, Saurabh Pandey said the court has remanded them to ED custody until January 17. Tibrewal, described as a "close associate" of accused Vikash Chapparia, is alleged to have acquired undisclosed properties in Dubai and holds a significant stake in a foreign portfolio investment (FPI) company, where Chapparia is also a shareholder, as per the report.

Houthi rebels over their attacks on shipping in the Red Sea pulled the world's focus Friday back on the yearslong war raging in the Arab world's poorest nation, even as shipping across the wider Mideast remains threatened. As the bombing lit the predawn sky over multiple sites held by the Iranian-backed rebels, Saudi Arabia quickly sought to distance itself from the attacks as it seeks to maintain a delicate detente with Iran and a cease-fire in the Yemen war from which it hopes to finally withdraw. Meanwhile, the U.S.

This year’s scores on the Henley Passport Index, which tracks how easily people can travel abroad, are out. For the past five years, Singapore and Japan have been contenders for the honour of issuing the most powerful passports, granting their holders access to more of the world’s countries without a prior visa than others.

Real estate company TARC Ltd, listed on NSE & BSE, has announced the launch of its ultra luxury residential project in New Delhi. The company plans to invest close to Rs 1200 crore in this high-rise project, named TARC Kailasa, which will be centrally located on main Patel Road.

Iran’s navy has seized an oil tanker in the Gulf of Oman that once was at the center of a major crisis between Tehran and Washington, a seizure that further escalates tensions in the Mideast waterways

By Ariba Shahid