Uae Financial News

By Sumit Khanna and Rupam Jain

minister for AI. This would be in keeping with a governmental interface for all technologies with transformative potential such as telecommunications and aerospace.

seeking asylum in France after their flight from the UAE was grounded last week over suspicion of human trafficking before being allowed to take off for India have now been freed, according to local French media reports on Wednesday. These 25 passengers were not on the flight carrying 276 mostly Indian passengers which took off for Mumbai on Monday afternoon after four days of being held at Chalons-Vatry airport near Paris.

PTI. He has been put under ‘house detention’ as of now and the Indian authorities are working through diplomatic channels to get him deported. Meanwhile, the Enforcement Directorate (ED) may also file a fresh charge sheet in this multi-crore money laundering case soon, said the officials to the news agency.

Adani Energy Solutions has partnered with a business backed by Abu Dhabi's International Holding Company (IHC) in order to expand its smart meter business in India and around the world, the company announced in a statement on Wednesday. The UAE-based Esyasoft Holdings, which is primarily controlled by IHC, a current investor in Adani group firms, was acquired by a subsidiary of the Indian power distribution company, according to the announcement. Adani Energy has received contracts to install 20 million smart meters from several electricity distribution companies in India; the company did not disclose the amount of investment. Adani Energy stated in a statement that it hoped to use Esyasoft's network in more than 10 countries to develop globally through the joint venture and to bolster its local smart meter business. In an effort to increase the operational effectiveness and long-term financial viability of power distribution businesses, the Indian government has been pressuring the installation of smart metres and introduced the Revamped Distribution Sector Scheme last year. Smart meters give consumers access to real-time data on energy usage, enabling them to make educated decisions about their usage. According to a statement by Adani Energy, the Indian government intends to build 250 million meters nationwide by 2025; of those, tenders for 80 million meters have not yet been released, suggesting room for expansion.

As we conclude 2023, a year marked by regulatory challenges and unprecedented growth, the cryptocurrency industry stands at the crossroads of uncertainty and promise. In an exclusive interview with India’s largest crypto exchange and the first crypto unicorn, CoinDCX’s Co-founder Neeraj Khandelwal shares insights into the highs and lows of 2023 and paints an optimistic picture of what awaits the crypto community in 2024.

France and the UAE to bring back the flight which was grounded at the Vatry airport, east of Paris, over suspected human trafficking. It was a tip-off, described as anonymous, from the UAE that enabled France to halt the Romanian Airlines chartered flight at an airport near Paris on suspicion of human trafficking.

CAIRO (Reuters) — Saudi Arabia's cabinet on Tuesday announced its approval of contracting regulations for firms that do not have regional headquarters in the Kingdom, Saudi state news agency SPA reported.

Narendra Modi on Tuesday said the Sikh gurus have taught Indians to live for the glory of their land and served as an inspiration to make the country better and developed. Speaking at a 'Veer Bal Diwas' event to commemorate the martyrdom of two sons of Guru Gobind Singh, Modi said India is now coming out of the «mindset of slavery» and has full faith in its people, their abilities and heritage. «When we did not respect our heritage, the world also did not value it,» he said, adding that the global perspective has now changed.

free trade agreement (FTA) between India and Oman are moving at a fast pace and the pact is likely to be signed next month, a senior government official said. Officials of the two countries concluded the second round of talks for the pact, officially dubbed as Comprehensive Economic Partnership Agreement (CEPA) earlier this month in Muscat. «With Oman, there is a very good progress and both sides are very eager to conclude this deal.

India has sought four seats for its carriers against every extra seat it allows Dubai-based airlines to operate to the country, according to people with knowledge of the matter. The demand is said to be unprecedented as international aviation trade is typically a bilateral process, based on the reciprocal exchange of rights by states. Under the bilateral air service agreement inked between the United Arab Emirates (UAE) and India in January 2014, airlines of both nations are allowed to operate a total of 66,000 seats per week between Dubai and 15 Indian cities.

France for a human trafficking investigation departed on Monday for India, after an exceptional holiday ordeal that left about 300 Indians en route to Central America blocked inside a rural French airport for four days. Associated Press reporters outside the Vatry Airport in Champagne country saw the unmarked Legend Airlines A340 take off after the crew and about 200 other people boarded the plane. It wasn't immediately clear what would happen with those who didn't board the plane. The passengers grounded in France included a 21-month-old child and 11 unaccompanied minors who were put under special administrative care.

crude oil purchased from the UAE is helping the world's third largest energy consumer push for taking the local currency global, as it looks for similar deals with other suppliers, officials said, adding internationalisation is a process and there are no targets. With the nation more than 85 per cent dependent on imports for meeting its oil needs, India has been pursuing a three-pronged strategy of buying from the cheapest available source, diversifying sources of supply and not breaching any international obligation like the price cap in case of Russian oil. While the strategy helped save billions of dollars, when it ramped up imports of Russian oil that was shunned by some in West post Ukraine war, it is looking to settle trade in rupees instead of dollars in a bid to cut transaction costs by eliminating dollar conversions. India in July signed an agreement with the UAE for rupee settlement and soon after Indian Oil Corporation (IOC) made payments for purchase of a million barrels of crude oil from Abu Dhabi National Oil Company (ADNOC) in Indian rupees. Some of the Russian oil imports too have been settled in rupee. Officials said the default payment currency for import of crude oil has been the US dollar for several decades and the currency traditionally has liquidity as well as lower hedging cost. But to boost the rupee's role in cross-border payments, the Reserve Bank of India allowed more than a dozen banks to settle trades in rupees with 18 countries since last year. Since then, India has been encouraging big oil exporters such as the UAE and Saudi Arabia to accept the Indian currency for trade settlements, officials said, adding the first success happened in August this year when IOC made the rupee

businesses, payments and API banking company Cashfree Payments has launched a self-hosted payments orchestration platform, FlowWise. The platform’s self-hosting feature claims to eliminate safety concerns, making it a secure solution for merchants. Akash Sinha, Co-founder & CEO, Cashfree Payments, says FlowWise is a single-point payments management solution for India’s digital-first businesses.

303 Indian passengers, suspected of human trafficking, detained near Paris, is set to leave on Monday, according to French judicial officials, AFP reported. 1. The Airbus A340, en route to Nicaragua, was held at Vatry airport after an anonymous tip-off upon its arrival from Dubai for refuelling.

Partnering with the International Development Research Centre (IDRC) and the Global Development Network (GDN), and with the active involvement of India’s G20 Sherpa, in July this year, Niti Aayog hosted an international conference on ‘A Green and Sustainable Growth Agenda for the Global Economy.’ The conference was an official side-event of India’s G20 presidency, timed such that the discussion could inform the forthcoming summit communique, which subsequently emerged as the landmark New Delhi Leaders’ Declaration. Leadership of the G20 passed from India to Brazil on 1 December, just as the two-week long 28th Conference of the Parties of the United Nations Framework Convention of Climate Change (UNFCCC) got going in the UAE.

Indian Navy warship INS Mormugao reached MV Chem Pluto, the India-bound merchant vessel, which was 'attacked' by an Iranian drone, on Saturday night and ascertained details of the attack, officials informed on Sunday. According to officials, the Indian Navy has opened an investigation into whether the drone used to attack the vessel was launched from long range or from a nearby vessel. «The vessels operating in the area where the attack took place are being checked,» an official told ANI.

Embassy consular staff stationed there. Thank French authorities for working on this through the long holiday weekend," the Indian Embassy in France said in a post on X. The French authorities on Friday grounded an Airbus A340-300 with 303 Indians onboard after they received a tip-off that the passengers traveling in the plan were likely to be victims of human trafficking.

detained the flight after they received an anonymous tip-off that said the plane was carrying passengers "likely to be victims of human trafficking," the Paris prosecutors office was quoted by AFP as saying. According to the report, two men, who were among the passengers, were taken into custody on Saturday. "Identity checks are being carried on the 303 passengers and on the cabin crew," said the prosecutor's office.

Nicaragua with 303 Indian passengers was grounded in France on Friday, leading to a comprehensive investigation into potential human trafficking activities. Here's a breakdown of the key details surrounding this incident. Flight Details and Grounding The Romanian charter company-operated flight, originating from Dubai, was scheduled for a technical stopover at the Vatry airport in France.

Nicaragua-bound plane carrying 300 Indian passengers on suspicion of ‘human trafficking’, said Liliana Bakayoko, who was a lawyer for the airline. Speaking to AFP, Bakayoko said, “The company denied any wrongdoing in the incident and is at the disposal of the French authorities. But the airline would take legal action if the prosecutors file charges." The plane had taken off from the United Arab Emirates.