Uae Financial News

Russian oil due to slimmer discounts and payment troubles and increase their intake of crude from their traditional Gulf suppliers such as Iraq and the UAE, which are willing to offer increased credit periods, a petroleum ministry official said. The discount on Russian oil has now deeply eroded and so it doesn’t make sense to buy much from Russia, said the official, who didn’t want to be named. The official didn’t give details on the current level of discount.

Over the weekend, India and the UAE signed pacts to allow settlement of bilateral trade in local currencies and also interlink our Unified Payments Interface (UPI) with the UAE’s Instant Payment Platform (IPP). They also agreed to link payment card switches. Linking UPI with IPP will make transfers of money across the Arabian Sea far easier, a matter of a few keystrokes on a phone.

The collections are 15% more than Mission: Impossible Fallout, reports Deadline. Globally, Mission: Impossible 7 has had the biggest opening weekend as compared to other M:I franchise movies. These results are from 35 international markets, including India, Australia/New Zealand, Brazil, Netherlands, Scandinavia and the UK.

United Arab Emirates to promote local currencies, India has reportedly struck a similar deal with Indonesia, with both countries working on a real-time payment mechanism and local currency trade. A TOI report says that the governments are also looking to expand the scope of digital payments between the countries, bringing the use of UPI and similar tools to the forefront.

New Development Bank (NDB) has started membership expansion to make the bank a global institution, said Leslie Maasdorp, the bank's vice president and chief financial officer, adding that the institution has been able to successfully navigate geopolitical issues. The New Development Bank is also exploring fundraising in the Indian rupee and is expected to hold discussions next month and is in touch with the regulators.

United Arab Emirates (UAE) to trade in local currencies is the second big step towards internationalising the rupee. Russia last year agreed to sell crude oil to India in rupees after the West imposed sanctions on settlement in dollars. India is beginning at the top with the UAE, its third-largest trading partner after the US and China.

BJP on Sunday termed Prime Minister Narendra Modi's recent visits to France and the UAE «successful» and said they were not just «high on optics» but also «high on substantive outcomes». Prime Minister Modi on Saturday returned after «successful» visits to France and the United Arab Emirates.

Airport after successfully completing his France and UAE visit."Concluding a productive UAE visit. Our nations are working together on so many issues aimed at making our planet better.

Bloomberg, the G-7 nations are convening before the Group of 20 meetings in Gandhinagar, Gujarat, with a focus on providing assistance to Ukraine, reforming multilateral development banks, and reevaluating global supply chains. On Sunday, Treasury Secretary Janet Yellen expressed her commitment to collaborating with China on shared areas of interest.

UAE), Prime Minister Narendra Modi on Sunday shared a video bearing highlights from his trip to the Gulf nation and said both the countries will continue to work closely for global good. Sharing a video on Twitter on Sunday that featured him attending important events in the UAE, PM Modi, wrote, «India and UAE will keep working closely to further global good.» On July 15, Prime Minister Modi reached Delhi Airport after successfully completing his France and UAE visit.

UAE on Saturday signed a Memorandum of Understanding for planning to establish Indian Institute of Technology (IIT) — Delhi in Abu Dhabi, which could be the second IIT abroad after Tanzania. The MoU was signed following talks between UAE President Sheikh Mohamed bin Zayed Al Nahyan and Prime Minister Narendra Modi in Abu Dhabi. Modi was in UAE on a day long visit following his France trip.

Indian Institute of Technology (IIT) Delhi has signed a Memorandum of Understanding (MoU) with Abu Dhabi Department of Education and Knowledge (ADEK) and the Ministry of Education in India to set up its international campus in Abu Dhabi. The MoU was signed in the presence of Prime Minister Narendra Modi and Sheikh Mohamed Bin Zayed Al Nahyan, President of the UAE, according to a release issued by IIT Delhi.

New Delhi: Prime Minister Narendra Modi, who is on an official visit to the UAE, met president-designate of COP28, Sultan bin Ahmed Al Jaber, on Saturday, assuring India’s full support for the presidency to the Gulf nation, the prime minister’s office said. According to the PMO, Jaber briefed PM Modi on UAE’s approach to this important meeting.

IIT Delhi campus in the Gulf country. Prime Minister Narendra Modi is currently on an official visit to the United Arab Emirates (UAE). Indian Institute of Technology (IIT) Delhi is the second IIT to announce setting up an offshore campus after IIT Madras. Last week, IIT Madras signed an MoU for setting up a campus in Tanzania's Zanzibar. Union Education Minister Dharmendra Pradhan tweeted to congratulate IIT Delhi for signing MoU. «An exemplar of New India's innovation and expertise, the IIT Delhi campus in UAE will be an edifice of India and UAE friendship. It will set a brand new template for leveraging the power of knowledge for both mutual prosperity and global good as envisioned in NEP,» he added.

IIT Delhi's Abu Dhabi campus will offer Master's courses from January 2024, and Bachelor's courses from September next year. Union education minister Dharmendra Pradhan said, “IIT Delhi's Abu Dhabi campus to set template for leveraging power of knowledge for mutual prosperity and global good". Prime Minister Narendra Modi is currently on an official visit to the United Arab Emirates (UAE).

UPI with the Instant Payment Platform (IPP) of UAE. According to the MoUs signed between the two central banks, both of them would now help each other in establishing a common framework for the promotion of the use of local currencies, i.e, the Indian rupee (INR) and the UAE Dirham (AED) for cross-border transactions.

Reserve Bank of India and the Central Bank of UAE (CBUAE) on Saturday signed two Memorandum of Understanding (MoU) to strengthen the use of local currencies for cross-border transactions and for interlinking their payment and messaging systems. With an aim to put in place a Local Currency Settlement System (LCSS), the Governors of RBI and CBUAE agreed to establish a framework for the use of local currencies for transactions between the two Asian countries.

Narendra Modi on Saturday met and held talks with UAE President Sheikh Mohamed bin Zayed Al Nahyan to further deepen the multifaceted bilateral ties. Modi was accorded a ceremonial welcome here at the Qasr-Al-Watan – the presidential palace - where he was greeted by the UAE President with a warm embrace.

Narendra Modi received a dazzling welcome in United Arab Emirates (UAE) as the iconic Burj Khalifa was lit up with the colours of the Indian nation flag. As a part of the light-and-sound show at the Burj on Friday, setting the stage for PM Modi's arrival to the Gulf nation on an official visit, the skyscraper also showcased his picture, followed by a text that read, «Welcome Honorable Prime Minister Narendra Modi.» A leaping skyscraper in Dubai, United Arab Emirates, Burj Khalifa is one of the top attractions to visit in the city.

Narendra Modi arrived here on Saturday on a day-long visit to the UAE during which he will meet UAE President Sheikh Mohamed bin Zayed Al Nahyan and review the burgeoning bilateral ties between the two strategic partners. Modi arrived in Abu Dhabi following his successful two-day visit to Paris where he joined French President Emmanuel Macron for the Bastille Day parade as the Guest of Honour and signed several agreements to bolster bilateral ties. Prime Minister Modi will hold talks with Sheikh Al Nahyan, President of the UAE and Ruler of Abu Dhabi.

Narendra Modi arrived in the United Arab Emirates (UAE) on Saturday for a one-day visit. During his stay, he is scheduled to meet UAE President Sheikh Mohamed bin Zayed Al Nahyan to discuss and assess the growing bilateral relations between the two nations, which have been identified as strategic partners. As reported by PTI, Modi's visit to Abu Dhabi follows his successful two-day trip to Paris, where he attended the Bastille Day parade as the Guest of Honour alongside French President Emmanuel Macron.