Uae Financial News

Foreign direct investment (FDI) into India declined 34% year-on-year to $10.94 billion during April-June this fiscal. FDI inflows were $16.59 billion during April-June 2022-23, data released by the Department for Promotion of Industry and Internal Trade (DPIIT) showed. Total FDI inflows, including fresh FDI equity inflows, reinvested earnings and other capital, were $17.56 billion against $22.34 billion a year ago. Singapore was the top source of FDI with inflows of almost $3 billion, followed by the Netherlands, at $1.5 billion.

digital economy, trade and food security. UN secretary general Antonio Guterres, who was also present, said the UN, formed in 1945, must be reformed to reflect modern power realities. The big one was the expansion of Brics to include six new members, who will join the organization next year.

the future of BRICS-Plus. The Johannesburg summit of BRICS leaders, which ended on 23 August 2023, agreed to induct six new members: the United Arab Emirates (UAE), Saudi Arabia, Argentina, Iran, Egypt and Ethiopia. Along with the existing five members—Brazil, Russia, India, China and South Africa—the expanded grouping of 11 members now presents an interesting alchemy of geo-political and geo-economic interests.

Ministry of Health and Prevention (MoHAP) has launched a back-to-school health awareness campaign from August 17 to 31 to equip parents and students with insights into the significance of adopting healthy lifestyles as they return to school, emphasising the benefits of physical activity, a balanced diet, regulated sleep patterns, and controlled electronic screen time. In collaboration with the Ministry's representative offices across the UAE, six community events were held at Lulu Hypermarkets. Additionally, an exclusive awareness session was organized specifically for MoHAP employees. These events involved a series of activities, including healthy cooking workshops for parents and children, guided by expert chefs, where they learned how to prepare nutritious school meals. Nutritionists provided participants with tips on how to preserve food in school lunch bags during prolonged school hours.

Foreign direct investment (FDI) into India declined 34% on-year to $10.94 billion during April-June period this fiscal. FDI inflows were $16.59 billion during April-June 2022-23, data released by the Department for Promotion of Industry and Internal Trade (DPIIT) showed. Total FDI inflows- including fresh FDI equity inflows, reinvested earnings and other capital- were $17.56 billion as against $22.34 billion a year ago.Singapore was the top source of FDI with inflows of almost $3 billion, followed by The Netherlands at $1.5 billion. FDI from Mauritius, Singapore, the US and the UAE declined in the first quarter of FY24. Inflows dipped in segments including computer hardware and software, trading, automobile and pharma.

G20 summit, close to 3,500 rooms across big and small hotels in Delhi and Gurgaon have been booked, reported TOI. To cater to the needs of the leaders, over 10,000 hospitality professionals have been instructed to be present across 30 prominent hotels across central and south Delhi, Aerocity and Gurgaon. Delhi Police, Ministry of External Affairs and other embassies have already started security drills almost two months ago, according to TOI quoting a Hyatt Regency Hotel spokesperson. Hotel Arrangements for World Leaders Several luxury hotels across Delhi and other nearby locations have been selected to host the leaders. US President Joe Biden is expected to stay at ITC Maurya while Chinese President Xi Jinping is set to be hosted by Taj Palace. Other hotels such as Shangri La's Eros expected to have UK PM Rishi Sunak and German delegation, The Imperial may host the Australian PM and Indonesian delegation, Taj Mahal to have UAE delegation; Leela Palace expects Saudi Arabia delegation, The Lalit to have Canadian and Japanese delegations, The Claridges expects French president Emmanuel Macron and The Oberoi will host Russian delegation. During the stay, several preparations are in place to give the world leaders a taste of the Indian culture. «Indian musicians, especially the ones good at playing dhol, tabla, sitar, sarod and shehnai, are being signed up for welcoming the guests and also for playing soft music through the day in lobby,» explained a hotel manager. Another hotel's representative explained that from 'organising a traditional Indian welcome with a popular local music or dance performance and signature Indian welcome drinks to stocking the rooms with specially curated amenities, such as Indian coffee, teas,

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Read more Jio Financial Services stock will now be removed from the all the S&P BSE indices, including Sensex, Sensex 50, BSE 100, BSE 500 among others, before opening of trading on September 1. Read more The Securities and Exchange Board of India (Sebi) on Friday informed the Supreme Court that it has concluded 22 out of 24 separate investigations into the Adani group, analysed data on nearly 350 million stock trades, and scrutinized dealings in seven Adani group firms involving tens of thousands of documents.

Dubai-based cryptocurrency exchange BitOasis has secured a round of funding from a group of investors, including Indian digital-asset platform CoinDCX. 

Pakistan has tried to downplay the snub from the BRICS, saying it has not yet made a formal request to join it after the bloc ignored Islamabad when it announced its major expansion in years. On August 24, The leaders of the BRICS nations decided to admit Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates as the new members of the grouping, sealing a long-drawn process. Foreign Office spokesperson Mumtaz Zahra Baloch issued the details of her weekly briefing on Friday night, a day after the bloc of developing countries added new countries. «We will examine the latest developments and make a determination about our future engagement with BRICS,» Baloch said. To a query, if Pakistan was ignored by the bloc, she said Pakistan followed BRICS' developments in its latest summit in South Africa and also noted its openness to inclusive multilateralism. «Pakistan is an ardent supporter of multilateralism and as a member of several multilateral organisations it has always played an important role in global peace and development,» she said. The spokesperson termed Pakistan as an important developing country that has made «important contributions to promote peace, solidarity and cooperation among countries of the South». «We shall continue our efforts at the international fora for fostering the spirit of international cooperation and revitalisation of inclusive multilateralism,» she said. BRICS initially composed of Brazil, Russia, India, China and South Africa has undertaken major expansion taking its members to eleven, making it more representative of the Global South. Reportedly several countries are queuing up to join the group but Pakistan may face a challenge due to the presence of India which enjoys

DUBAI (Reuters) — Qatar is balancing its relationships with both the United States and China and one link does not damage the other, Prime Minister Sheikh Mohammed Bin Abdulrahman al-Thani said on Friday.

Pakistan's SereneAir is offering additional 10 kg baggage allowance on its flights operating from UAE to Pakistan. This special offer is valid till 30 Sept 2023 only.

G20 summit in New Delhi next month. Trudeau assured Zelenskyy of continued support and stated they would strongly advocate for Ukraine. The summit invited Netherlands, Singapore, Spain, UAE, Oman, Bangladesh, Egypt, Mauritius, and Nigeria as "guest countries." Ukraine was similarly invited to previous G7 and NATO summits to show support amid its conflict with G20 member Russia.

Brics is set to add heft to the grouping of emerging economies as it announced on Thursday the inclusion of six new members, including India's key partners in the Gulf and North Africa, a development that Prime Minister Narendra Modi described as a message that «all global institutions need to transform considering the changing times». South Africa's President Cyril Ramaphosa made the announcement at a joint press conference of the leaders of the current members — Brazil, Russia, India, China and South Africa — on the concluding day of the 15th Brics summit in Johannesburg. «We have decided to invite the Argentine Republic, the Arab Republic of Egypt, the Federal Democratic Republic of Ethiopia, the Islamic Republic of Iran, the Kingdom of Saudi Arabia and the United Arab Emirates to become full members of Brics from 1 January 2024,» said the joint declaration issued at the end of the 15th Brics summit. At the summit, the Brics leaders tasked their finance ministers and central bank governors, as appropriate, to consider the issue of local currencies, payment instruments and platforms, and report back to leaders by the next summit.Deep relations The group also decided to clear the path for further expansion. «We have also tasked our foreign ministers to further develop the Brics partner country model and a list of prospective partner countries and report by the next summit,» said the joint statement. Prime Minister Modi said at the joint press conference — in the presence of Ramaphosa, Chinese President Xi Jinping and Brazilian President Luiz Inacio Lula da Silva — that the decision to expand the grouping will strengthen the belief of many countries in a multipolar world. The PM said the inclusion of new members will

By Carien du Plessis, Anait Miridzhanian and Bhargav Acharya

NEW DELHI : Leaders of Brics countries on Thursday invited six more nations to join them in the grouping’s first expansion since 2010. Iran, Saudi Arabia, Egypt, Argentina, Ethiopia and the United Arab Emirates will join existing members Brazil, Russia, India, China and South Africa, said South African President Cyril Ramaphosa at a briefing. The six countries are expected to become members starting 1 January.

BRICS group of countries, comprising Brazil, Russia, India, China and South Africa, has agreed to admit Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the UAE as new members. Concerns of BRICS gradually turning into an anti-West club have increased ever since Russia’s invasion of Ukraine and its “no-limits" partnership with China, which had been especially keen to expand membership. The group’s potential influence over global geopolitics has gone up.

Iran, Saudi Arabia, United Arab Emirates, Argentina, Egypt and Ethiopia have been invited to join BRICS economic bloc

Iran and Saudi Arabia are among six nations that have been invited to join the BRICS bloc of developing economies, along with the United Arab Emirates, Argentina, Egypt and Ethiopia

BRICS which is a group of 5 countries that include... moreBRICS which is a group of 5 countries that include Brazil, Russia, India, China and South Africa has now invited 6 more countries to become members..

Narendra Modi addressed the 15th BRICS Summit being held at Johannesburg in South Africa. At the meet PM Modi said," I believe BRICS and friendly countries can work together to strengthen a multi polar world'. Further, BRICS leaders announced on Thursday the "historic" admission of six new countries from next year as the club of large and populous emerging economies seeks to reshape the global order.