Uae Financial News

India will cut the floor price for basmati rice exports in the coming days, sources familiar with the matter said, after millers and traders complained about a sharp drop in overseas sales of the premium aromatic grain. India will lower the basmati floor price to $850 a metric ton, down from $1,200 a ton, to help millers and traders ship out the rice grade, said the sources, who didn't wish to be identified as they are not authorised to talk to media. Last month, India fixed the floor price, or the minimum export price (MEP), for basmati rice shipments at $1,200 a metric ton. Authorities said the MEP was imposed to help New Delhi ensure that non-basmati rice was not exported as basmati rice. In July, India surprised buyers by imposing a ban on the export of widely consumed non-basmati white rice, following a ban on broken rice exports last year. «The decision to lower the basmati MEP would help farmers who were losing money on account of falling exports,» said Prem Garg, president of the Indian Rice Exporters Federation. «The move will also help India retain its pre-eminent position in the global basmati rice market.» Since basmati rice is not widely consumed in India, and the new season crop will start arriving in the market from next month, India would have faced a glut of the superior grade, Garg said. «A large stockpile would have hammered prices and hurt farmers and India's rice sector, so the move to lower the MEP will be quite helpful,» he said. India and Pakistan exclusively grow premium, aromatic basmati rice.

non-basmati rice to Bhutan (79,000 tonnes), Mauritius (14,000 tonnes), and Singapore (50,000 tonnes) through the National Cooperative Exports Ltd (NCEL). "The Government of India has the commitment that in case of food insecure, vulnerable countries and neighboring countries request, it will provide with the required quantity of rice or wheat," he said.

non-basmati white rice exports to UAE, a Directorate General of Foreign Trade notification said on Monday. «In exercise of powers conferred by Section 3rd with section 5 of the Foreign Trade (Development & Regulation) Act, 1992 (No. 2 of 1992), as amended, read with Para 1.02 and 2.01 of the Foreign Trade Policy, 2023 and in accordance with the provision contained ni Para 2 (iv) of Notification No.

The I2U2 - Israel, India, UAE, and the United States - announced a new initiative on space cooperation this month on the sidelines of the UN General Assembly session in New York. The four-nation grouping, termed the “West Asia Quad" by some, has attracted attention in recent years. Mint looks at what I2U2 is.

Mamata Banerjee returned to Kolkata after a 12-day tour of Spain and UAE, the ruling Trinamool Congress and opposition BJP on Sunday got involved in a war of words with the saffron party mocking the CM's trip and the TMC questioning Prime Minister Narendra Modi's foreign visit when Manipur was burning. Senior BJP politician and leader of the opposition Suvendu Adhikari accused the TMC of «hobnobbing with corruption» for questioning Modi's overseas visit. TMC spokesperson Kunal Ghosh shot back saying, «Banerjee is more trustworthy» than Modi. "PM @narendramodi embarked on foreign trips while Manipur was burning.

Dubai is a magnificent city to live and work in. But how can someone buy Bitcoin in Dubai? Is it legal to buy Bitcoin in Dubai? Is Dubai crypto-friendly? 

space venture on the margins of the United Nations General Assembly in New York to take forward their partnership. “Primarily using the space-based observation data and capabilities of the four I2U2 partner countries, this project aims to create a unique space-based tool for policymakers, institutions and entrepreneurs, enabling their work on environmental and climate change challenges and furthering our cooperation in the applications of space data for the greater good of humanity,” according to a readout by the State Department following the announcement on Friday. Meanwhile, Under Secretary of State for Economic Growth, Energy, and the Environment Jose W.

India-Middle East-Europe Economic Corridor (IMEC) was launched with the promise of galvanising connectivity and trade through India, the Arabian Gulf and Europe, with an underlying goal of shifting geopolitics in the region, by countering China’s Belt and Road Initiative (BRI). The precise route map of the corridor will be figured out when the stakeholders meet in the next two months. But a Memorandum of Understanding (MoU) unveiled on the sidelines of the G20 leaders’ meeting shed light on its broader contours — a transit through India, the United Arab Emirates (UAE), Saudi Arabia, Jordan, Israel, and Europe.

Bitmain rolled out its next generation Antminer S21 and S21 Hydro ASIC miners at the World Digital Mining Summit in Hong Kong on Sept 22, revealing the crucial performance stats that the entire industry has been waiting for. The S21 has a hasrate at 200 TH/s and an efficiency at 17.5 J/T while the S21 hydro hashes at 335 TH/s and 16 J/T which is notable given that until recently, most Bitcoin ASICS were operating above the 20 J/T level.

Women's apparel brand Chique is planning for expansion into tier-2 and 3 cities across India. The company said that it plans to open over 150 stores in the next three years. The company already has a presence in 26 cities, including Delhi, Ahmedabad, Lucknow, Jaipur, Hyderabad, Ludhiana, Gurugram, Bangalore, and Mumbai.

A top official of upcoming international climate negotiations hopes to prove critics wrong and surprise them with a “course correction” for an ever-warming world

Lulu Group, headquartered in UAE's Abu Dhabi, has expressed interest to invest in West Bengal, following a meeting with West Bengal Chief Minister Mamata Banerjee. The group operates a chain of hypermarkets and retail companies. Banerjee also held a meeting with UAE Minister Thani Bin Ahmed Al Zeyoudi ahead of a business summit organized in Dubai. “LuLu Group expressed a strong interest in investing in various sectors, including fish processing, poultry, dairy and meat processing," Mamata Banerjee, who is presently leading a business delegation in Dubai, said in her X handle. “… We delved into a range of exciting possibilities, foremost among them being the prospect of a world-class mall in Newtown.

I2U2 Group, consisting of India, the US, Israel, and the UAE, has launched a private enterprise partnership to increase awareness of its initiative in business communities and support projects that further its goals. The four-nation grouping also launched its website to enhance cooperation between the member countries and partnerships across the globe. The launch announcement was made during the I2U2 Sherpas meeting in New York on the sidelines of the 78th session of the United Nations General Assembly by India's Ministry of External Affairs Secretary (Economic Relations), Dammu Ravi, Israel's Ministry of Foreign Affairs Director-General Ronen Levi, UAE's Ministry of Foreign Affairs Minister Ahmed Ali Al Sayegh, and US Department of State Under Secretary Jose W.

(Reuters) — The United Arab Emirates is considering introducing export licenses for a list of items including chips and other components sanctioned by the U.S. and European Union and used by Russia's military in Ukraine, Bloomberg News reported on Thursday, citing people familiar with the matter.

India has won the bid to host the International Congress on the Chemistry of Cement (ICCC) here in 2027, where global leaders, academicians, and professionals would deliberate on progress of research in this sector, an official statement said.

None Trading, a trading tool catering to cryptocurrencies and non-fungible tokens on Discord will close its doors to customers.

NEW DELHI : Saudi Arabia, the world’s second largest oil producer, has slashed the premium charged on exports to India while many others have discontinued it altogether, a person aware of the matter said, after India began sourcing the bulk of its energy requirements from Russia. Asian premium is an extra amount levied by the Organization of the Petroleum Exporting Countries (Opec) from Asian countries above the actual selling price. India has repeatedly pressed oil producers to eliminate this premium and even asked for an ‘Asian discount’ instead.

aviation ministry, a person aware of the matter said. “According to the DGCA, Akasa Air is eligible to apply for international scheduled air transport services," the ministry informed the airline. “However, it is also informed that based on traffic rights to be allocated to Akasa Air, scrutiny of country-specific preparedness will be carried out by the DGCA before permitting Akasa Air to operate international operations." Since 2019, Indian airlines have shown strong interest in expanding their presence in the international market due to the potential for higher yields.

By Valerie Volcovici

public health and geopolitical instability that are impeding efforts to address pressing global issues. The theme of the 78th session of the UNGA is “Rebuilding trust and reigniting global solidarity: Accelerating action on the 2030 Agenda and its Sustainable Development Goals towards peace, prosperity, progress and sustainability for all." Beside President Joe Biden of the United States, none of the leaders of the five permanent members of the Security Council—namely the US, Russia, China, France and Britain—are attending the UNGA session.

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