Uae Financial News

BRICS 2023 summit: UAE President Mohammed bin Zayed Al Nahyan on 24 August said his country looks forward to working with BRICS for the benefit of all. In a post on X, formerly known as Twitter, he wrote, “We respect the vision of the BRICS leadership and appreciate the inclusion of the UAE as a member to this important group.

BRICS - Brazil, Russia, India, China and South Africa: 6 more countries become members. The new members include Argentina, Iran, the United Arab Emirates, Saudi Arabia, Ethiopia and Egypt. South Africa's President Cyril Ramaphosa delivered an address on August 24 and declared the names of the new members while announcing the summit's outcomes.

Narendra Modi on Thursday expressed gratitude to world leaders for their wishes on Chandrayaan-3's successful landing on Moon. The prime minister in reply to UAE President Sheikh Mohamed bin Zayed Al Nahyan's wishes said the milestone is not just India's pride but a beacon of human endeavor and perseverance. «I thank HH Sheikh @MohamedBinZayed for his wishes. This milestone is not just India's pride but a beacon of human endeavor and perseverance.

India on Wednesday on the successful landing of Chandrayaan-3 on the Moon, saying the historic event is evidence of India's impressive progress in the scientific-technological sphere. President Putin has congratulated India's President Draupadi Murmu and Prime Minister Narendra Modi on the successful landing of the Indian space probe Chandrayaan-3 on the Moon near its South Pole, the Kremlin's press service said. «Please accept my heartfelt congratulations on the successful landing of India's Chandrayaan-3 space probe on the Moon near the South Pole.

Dubai International Airport, the world’s busiest for international travel, says it served 41.6 million passengers in the first half of this year

Russian President Vladimir Putin and Chinese President Xi Jinping are both absent as leaders from the BRICS group of emerging economies open a three-day summit in South Africa

Russian President Vladimir Putin will be notably absent when Chinese President Xi Jinping and other leaders from the BRICS group of emerging economies begin a three-day summit in South Africa on Tuesday

Indian rupee today staged a strong rebound, posting its biggest single-day gain in nearly a month and a half. A pullback of the greenback from recent peaks while dollar inflows also aided the Indian currency. Pakistan’s rupee declined to a new low amid the country's deteriorating external finances. The spot Indian rupee today closed at 82.9350 against the US dollar, up 17 paise from its previous close of 83.1075 on Monday.

COVID-19 pandemic. The BRICS group was formed in 2009 by Brazil, Russia, India and China. South Africa was added in 2010.

The Sultanate of Oman, a 4.5-million populated nation, neighboring Saudi Arabia and the United Arab Emirates, has launched a new crypto mining center, the second mining facility to open in the country in ten months. 

Komainu, a joint venture between leading Nomura, and crypto firms CoinShares and Ledger, received a full operating license from Dubai’s Virtual Asset Regulatory Authority (VARA). 

EcoSoul Home aims to accelerate the movement towards a sustainable lifestyle by tapping Earth’s most renewable sources. With a diverse range of products in kitchenware, dinnerware and cutlery, the brand claims to drive the 3As of sustainability — awareness, availability and affordability.

MUMBAI : The onion crisis in India could intensify further as the Agricultural Produce Market Committee (APMC) constituents in Nashik, home to the largest onion market in Asia, have declared an indefinite strike, two days after the Centre imposed a 40% export tax to pre-empt a price spike, following skyrocketing tomato prices on low supply. Retail prices of onion have risen from ₹25-30 a kilogramme (kg) to ₹35-40 kg in parts of Mumbai over the past week and could rise further if the strike spreads to other onion-producing centres of Maharashtra as supply would be hit and due to hoarding by some large traders, according to a Mumbai-based exporter.

exports and imports of goods and services declined 2.5% on-year in January-June 2023 at $800.9 billion, think tank Global Trade Research Initiative (GTRI) said Monday. Exports of goods and services rose 1.5% to $385.4 billion in the first six months of the calendar year as against $379.5 billion in the corresponding period a year ago while imports dipped 5.9% to $415.5 billion from $441.7 billion in January-June 2022. In merchandise trade, exports fell 8.1% to $218.7 billion, while imports contracted 8.3% to $325.7 billion. “Data is showing modest decline due to weak global demand and losing competitiveness in labour intensive sectors,” said GTRI Co-founder Ajay Srivastava. Services exports during the six months grew 17.7% to $166.7 billion, while imports rose 3.7% to $89.8 billion. India exports goods to 240 countries and out of that, the country's outbound shipments declined in 134 destinations. Major countries where exports declined include the US, UAE, China, Bangladesh, and Germany.

Abu Dhabi City Municipality has taken a number of initiatives to augment traffic safety measures in the vicinities of schools throughout Abu Dhabi and its adjoining areas. For enhanced student safety, the municipality has rolled out a comprehensive suite of projects to revamp and strengthen the traffic safety elements within Abu Dhabi City's school regions.

Indian hosiery industry will stitch up revenue of Rs 36,000 crore this fiscal, 18-20% higher on-year, riding on a revival in rural demand. Operating margin will expand 300-400 basis points (bps) on softer input prices and improved capacity utilisations. A CRISIL Ratings analysis of 28 hosiery makers, accounting for a third of the industry by revenue, indicates as much.

An American-owned oil tanker long suspected of carrying sanctioned Iranian crude oil has begun offloading its cargo near Texas

New Delhi: Fuel delivery platform FuelBuddy is looking at expanding its global footprint by foraying into Africa. FuelBuddy is an online platform providing doorstep delivery of fuel. Apart from transporting fuels, the company sells lubricants.

Also read: Mumbai news: Train runs over man who fell on railway tracks after being assaulted by couple | Video The issuance of this order is based on concerns that these aerial objects could potentially be used to target VVIPs, pose threats to the general public, cause damage to public property, and disrupt law and order within the jurisdiction of the Brihanmumbai Police Commissionerate area. Also read: SpiceJet passenger clicks improper photos of air hostess on Delhi-Mumbai flight; DCW takes action Starting from Friday and continuing until September 16, the order strictly prohibits the operation of drones, remote-controlled micro light aircraft, paragliders, para motors, hand gliders, and hot-air balloons within the city's limits.

Also Read: India, China agree to resolve border issues in expeditious manner after 2-day meet The Maritime Rescue Coordination Centre in Mumbai on Wednesday received information that a crew member — Yin Weigyang — onboard the research vessel had a cardiac attack and required urgent medical attention. Communication was established immediately with the vessel, which was en route from China to the UAE necessary telemedicine advice was provided promptly.

Abu Dhabi National Energy Co. PJSC (TAQA) is looking to double down in India and is evaluating a large exposure in the expansive power businesses of Gautam Adani that span thermal generation to transmission, clean energy and green hydrogen, said people aware of the matter. TAQA, among the largest integrated utilities in Europe, West Asia and Africa and also the second largest stock on Abu Dhabi Securities Exchange (ADX), is keen to deploy $1.5-2.5 billion in Adani Group firms or in a single entity, said the sources mentioned above.