Uae Financial News

Talabat has clarified after a video of a delivery rider went viral in the UAE. In the video, the delivery person as seen parking his bike on the side of a road and taking a bite from a food packet that appears to be a customer's order. A Talabat spokesperson told Khaleej Times that the event happened in Bahrain, not UAE.

India exported USD 2.43 billion worth of smartphones in April-May this fiscal, driven by a multifold jump in shipments to the US which emerged as the biggest destination for India-made devices, according to the government data. The smartphone exports to the US jumped multiple times to USD 812.49 million during the first two months of this fiscal as against USD 92.2 million in April-May 2022-23, the commerce ministry data showed. The US accounted for one-third of the shipments in value terms.

An escalating dispute over a gas field in the Persian Gulf poses an early challenge to a Chinese-brokered agreement to reconcile regional rivals Saudi Arabia and Iran

The Union government has dispatched a team to Azerbaijan to apprehend dreaded gangster Sachin Bishnoi who is accused of the murder of Punjabi singer Sidhu Moosewala. Sachin Bishnoi who is the nephew of Lawrence Bishnoi has been on the run since the murder of Moosewala and had left the country using forged documents. Meanwhile last week, the National Investigation Agency (NIA) has arrested Vikramjeet Singh alias Vikram Brar, a key aide of jailed gangster Lawrence Bishnoi, following his deportation from the UAE to India.

Gold prices in UAE dipped today, tracking a similar trend in global markets but the yellow metal is set to close the month on a strong note. According to Dubai Jewellery Group, the 24K was today trading at 236.75 dirhams per gram, down from last week's close of 237.25 dirhams per gram last week. 22K and 18 K gold were trading at 219.25 dirhams per gram and 181.75 dirhams per gram respectively.

Major cryptocurrency exchange Binance has reached another milestone in relationships with regulators in the United Arab Emirates by winning a new license in Dubai.

Both Hollywood tentpoles were primed for one of history's most epic box-office showdowns. However, surprisingly, both movies have managed to pass the box-office test with flying colours!

Quran in front of foreign embassies in Denmark, the country's Foreign Minister Lars Lokke Rasmussen said as quoted by AL Jazeera. In an official statement, Rasmussen condemned the burnings, saying that they are deeply offensive and reckless acts committed by a few individuals.

Mint has reviewed the IBJA letter. CEPA stands for Comprehensive Economic Partnership Agreement while AIDC is agriculture and infrastructure development cess. The treaty is to promote bilateral trade and ease of doing business between the two countries and was signed in February 2022.

Mint reported on 18 July that India is exploring such a deal with Russia. The move to implement these deals guaranteeing superfast clearances at ports comes in the context of a slowdown in merchandise exports amid a global demand slowdown.

Piyush Goyal said on Saturday. India will have its own sizing system and metrics instead of sizes based on those of the UK and the US.

Piyush Goyal on Saturday said he is hopeful of India finalising certain free trade agreements (FTAs) in the next few months, which would help promote exports. India is in the final stages of concluding FTA negotiations with the UK. The country is also negotiating similar pacts with Canada and European Union (EU). «We can leverage the free trade agreements with the UAE and Australia and we are hopeful that in the next few months, we will finalise many more free trade agreements to help you grow your business with zero duty on finished leather products and footwear available for you to exploit bigger and better markets,» Goyal said while addressing footwear industry representatives here. The minister also asked the industry to focus on quality and sustainable manufacturing processes to tap business opportunities in the developed world. The Indian footwear and leather industry is not only a major foreign exchange earner but being a labour-intensive sector, it also provides employment to approximately 4.5 million people, 40 per cent of whom are women. He said that India has the capacity to become the world's largest and best-quality footwear manufacturer.

Piyush Goyal Saturday said that the country will soon come out with a domestic size of footwear which is suitable for Indian people. At the India International Footwear Fair, he also said that in the next few months, the country will finalise many more trade pacts with zero duty for finished leather products and footwear. “We have identified the domestic size of footwear which is suitable for Indian People.

Saudi Arabia is expected to extend a voluntary oil output cut of 1 million barrels per day for another month to include September, five analysts said, to provide additional support for the oil market. In June, OPEC+ agreed on a broad deal to limit oil supply into 2024 and Saudi Arabia pledged an additional voluntary cut for July. On July 3, Saudi Arabia said it would extend the cut for another month to include August, adding that it could be extended further. Oil prices have found some support from evidence of tightening supplies and economic stimulus in China. Brent crude was trading at over $84 a barrel on Friday, after hitting the highest level since April on Thursday. «Given the tentative recovery, my guess is they continue the cut for one more month and then phase it out over three months — similar to what Saudi did in 2021,» said Gary Ross, founder of Black Gold Investors and a veteran OPEC watcher. The Saudi Energy Ministry did not respond to a request for comment.

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₹400 crore of public money into the airline, which includes settling airport dues. According to the January order by the Mumbai bench of the tribunal, the effective date of the resolution plan was taken as 16 November.

UAE student has been named in the prestigious top 50 Global Student Prize 2023 shortlist. Gadhia was picked from a pool of nearly 4000 applications received from 122 countries. He is currently studying at Dubai College in the UAE.

Crypto mining hardware provider Phoenix Technology is reportedly starting discussions to conduct an initial public offering (IPO) in the United Arab Emirates, according to a report by Bloomber. 

Qatar Airways says it earned a profit of $1.2 billion over the last fiscal year, boosted in part by the small Arabian Peninsula country's hosting of the 2022 FIFA World Cup

Burger King's pink burger, the doll's popularity is soaring. The 3D advertisement of the Barbie movie in Dubai, despite its delayed release in the United Arab Emirates until August 31, 2023, is creating a significant buzz online. The presence of a giant colossal Barbie doll near the iconic Burj Khalifa has sparked a viral sensation on social media, fueling excitement around the film's release in the country. Eye Studio, a regional creative content agency, has produced a CGI video showcasing a massive Barbie doll, still in her Mattel packaging, positioned next to the iconic Burj Khalifa. The viral video on Instagram showcases the Barbie doll dressed in a strapless striped jumpsuit, white cat-eye sunglasses, and black heels as she elegantly steps out of the packaging. The video has garnered a whopping 3.5 million views on the internet.

VFS Global, which facilitates visa services for many countries worldwide, including the UAE, recently issued an advisory. It warned visa aspirants to be vigilant against fraudsters who may try to gain access to personal information or ask for money via social platforms. «If you are a visa aspirant, it’s possible that fraudsters may attempt to gain access to your personal information or ask for money via social channels.