Uae Financial News

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passenger ship service between the UAE and India could be a reality soon, media reports said. With tickets to cost around Dh442, it will offer travellers a convenient and cost-effective mode of travel. It will carry around 1,250 passengers at once and they will be allowed to take up to 200kg of luggage with them. The ship will take roughly three days to reach Kerala, according to YA Rahim, the President of the Indian Association Sharjah.

Additionally, it aims to triple the contribution of renewable energy and invest between AED 150 and AED 200 billion by 2030 to meet the country’s increasing demand for energy owing to its rapidly growing economy.The cleantech landscape in Dubai: Nurturing a green economy Dubai’s rise as a hub for cleantech startups mirrors its ambition to achieve a sustainable and eco-friendly economy. A multitude of cleantech startups are emerging as instrumental players in driving innovation, while aligning with the UAE Energy Strategy 2050.

Conventional BNPL involves a 20-25% down payment, followed by interest-free instalments over weeks or months. However, each BNPL program comes with distinct prerequisites that patrons must fulfil.

The IPO, which is a first from JSW Group in nearly 13 years, is completely a fresh issue of shares worth Rs 2,800 crore. The company had filed the draft prospectus with Sebi in May this year. JSW Infrastructure is the fastest growing port-related infra company in installed cargo handling capacity and cargo volumes handled during FY21-23, and the second largest domestic commercial port operator by cargo handling capacity in FY23. The company's business operations expanded from one port concession at Mormugao Port Trust in Goa (acquired by JSW in 2002 and commenced operations in 2004) to nine port concessions across the eastern and western coast of India, making it a well-diversified maritime ports company. The nine port concessions have an installed cargo handling capacity of 158.43 MTPA as of June 2023.

report by Financial Times. Turkey has pushed against the proposed India-Middle East-Europe corridor that was agreed upon this month during the G20 Summit held in New Delhi. The India-Middle East corridor would transport goods from the subcontinent through the United Arab Emirates (UAE), Saudi Arabia, Jordan, and Israel to European markets.

Derna, sweeping thousands to their deaths, the international aid effort gained pace on Sunday to help the grieving survivors. Search-and-rescue teams wearing face masks and protective suits kept up the grim search for any survivors who may still be trapped in the mud-caked wasteland of smashed buildings, crushed cars and uprooted trees. Traumatised residents, 30,000 of whom are now homeless in Derna alone, are in dire need of clean water, food, shelter and basic supplies amid a growing risk of cholera, diarrhoea, dehydration and malnutrition, UN agencies warn. «In this city, every single family has been affected,» said one resident, Mohammad al-Dawali. Seir Mohammed Seir, a member of the security forces, spoke of a three-month-old girl who lived through the tragedy: «Her entire family died, she was the only one who survived.» Emergency response teams and relief goods have been deployed from France, Iran, Malta, Russia, Tunisia, Turkey and the United Arab Emirates, with more on the way from multiple other European and Arab nations. The aid effort has been hampered by the political division of Libya, which was thrown into war and chaos after a 2011 NATO-backed uprising led to the overthrow and killing of veteran dictator Moamer Kadhafi. The oil-rich North African country now remains split between two rival governments — a UN-backed administration in the capital Tripoli, and one based in the disaster-hit east. Amid the chaos, the true death toll remained unknown, with untold numbers feared swept into the sea. The health minister of the eastern administration, Othman Abdeljalil, has said that 3,252 people were confirmed dead in Derna, where corpses wrapped in blankets and in body bags have lined squares and streets. The UN

bigger debt repayment as they have to pay a total of $3.6 billion by the next fiscal year. Recently, Vendata Chairman Anil Agarwal proposed that the company should consider acquiring Konkola Copper Mines from Vedanta Resources.

DUBAI : The United Arab Emirates (UAE), the host of the UN climate change conference (COP28) this year, will circulate a draft landmark declaration for food security transition to member countries in a few days, UAE’s climate change and environment minister Mariam Al Mehairi said in an interview. COP28, under the UAE presidency, aims to transform food systems to ensure that it is part of national climate efforts and secure the annual $100 billion in climate finance owed to developing nations. She also highlighted the challenges in importing fertilizers and wheat from Russia because of the war and the COP28 presidency’s focus on improving lives and livelihoods in Africa, helping unlock Africa’s green energy potential and ensuring food security.

Cultos Global, with offices in Dubai, has raised an undisclosed amount in its current investment round.Sameer Mehta, founder and CEO of Boat; Tarun Katial, founder and CEO of Coto; Ashwath Bhat, finance head at Fractal Analytics; and Vijay Ratnaparkhe, head of Bosch Southeast Asia, participated in the investment round.

renewable energy (MNRE) R.K. Singh on Friday said that the United Arab Emirates (UAE) has also evinced interest in having grid connectivity with India. On 10 September, India and Saudi Arabia signed a Memorandum of Understanding on cooperation in the field of energy, which also included cooperation in grid connectivity.

Chimera Investment LLC, part of a business empire overseen by Abu Dhabi’s Sheikh Tahnoon bin Zayed Al Nahyan, set up a $50 billion fund, adding to the plethora of sovereign and state-linked funds in the oil-rich emirate.

sanctions packages related to the war in Ukraine, penalizing more than 150 companies and individuals that officials said were profiting from Russia's invasion and their proximity to the Kremlin and President Vladimir Putin. The sanctions are part of the U.S. effort «to target Russia's military supply chains and deprive Putin of the equipment, technology, and services he needs to wage his barbaric war on Ukraine,» Treasury Secretary Janet Yellen said in a statement. «Today's actions show our global reach in imposing severe costs on Putin's oligarchs,» she added. The Treasury Department's sanctions targeted nearly 100 Russian military-linked elites and individuals — including some in Turkey, Georgia, Finland and the United Arab Emirates — involved with Russia's industrial, financial and technology industries.

Elon Musk said in 2021 that Tesla would accept Bitcoin payments once miners were using roughly 50% clean energy sources “with positive future trend” — a benchmark that may have recently been met.

As per the Liberalized Remittance Scheme (LRS), an Indian citizen can send $250,000 per year. Can this amount be used for investments in futures & options (F&O) trading on international listed derivatives. For example, can a trading account be opened with an international broker in foreign geography to trade exchange products such as S&P 500 futures, crude oil options, gold, Comex (F&O market for commodities), etc. What is the taxation if the account is opened in Dubai, UAE or Singapore; jurisdictions which have double taxation avoidance agreement (DTAA) with India? —Name withheld on request Remittances under LRS are allowed only in respect of permissible capital or current account transactions or a combination of both.

₹5,809.91 crores from ₹3,056.22 crores in the previous year. Among its key international subsidiaries, UOH Inc owning US hotels registered a turnover of ₹657.69 crores and St.

The United States is sanctioning more than 150 businesses and individuals as it tries to crack down on evasion and deny Russia access to technology, money and financial channels that fuel Moscow's war in Ukraine

New Delhi: Toy retailer Hamleys, owned by Mukesh Ambani’s Reliance Industries Ltd., has inaugurated its first retail store in Italy with franchisee Giochi Preziosi S.P.A (GP), a prominent player in the European country’s toy manufacturing and distribution industry.. Under the terms of the franchise agreement, GP has secured the exclusive rights to operate Hamleys stores throughout Italy, Reliance Brands Ltd. (RBL), that acquired the British toy retailer in 2019, said in a statement on Thursday Hamleys has made its debut in Italy with a store in Milan at the Corso Vittorio Emanuele II.

G20 summit, India, the US, UAE, Saudi Arabia, France, Germany, Italy and the European Union on Saturday on the sidelines of the G20 Summit in New Delhi signed a Memorandum of Understanding (MoU) to establish the India-Middle East-Europe Economic Corridor (IMEC). The G20 Leaders' two-day summit, held under India's presidency, wrapped up on Sunday.

JSW Infrastructure, the ports business of Sajjan Jindal-led JSW Group, will open for subscription on September 25. The issue closes on September 27. The IPO, which is the first from JSW Group in nearly 13 years, is completely a fresh issue worth Rs 2,800 crore.

Vladimir Putin has welcomed the India-Middle East-Europe connectivity initiative, emphasising its logistical advantages. Putin said the project would complement the International North-South Transport Corridor (INSTC), which would, in turn, benefit Moscow. “I believe that this will only benefit us. I believe that this will only help us develop logistics,” Putin said in his address to the Eastern Economic Forum in Vladivostok on Tuesday. The Russian president said the India-Middle East-Europe connectivity project would help his country develop logistics and added that the project had been under discussion for several years. Putin, however, chided the US over its participation.