Uae Financial News

CEPA a historical landmark, considering that it was signed within 88 days of negotiations, but it also provided a blueprint for other ongoing trade negotiations, including with the Gulf Cooperation Council (GCC) countries. CEPA envisions to grow the total value of merchandise trade between both countries to $100 billion by 2027.

Narendra Modi on Saturday left for the UAE after concluding his two-day visit to France where he held wide-ranging talks with French President Emmanuel Macron and was conferred with the country's highest civilian and military honour, the Grand Cross of the Legion of Honour. «PM @narendramodi bids adieu to France following a successful visit that heralded a new chapter in India-France relationship.

Elista has signed an MoU with the Government of Andhra Pradesh to invest Rs 100 crore in setting up its second manufacturing plant in Andhra Pradesh. Elista recently announced setting up a modern 1.32 lakh sq ft facility in Andhra Pradesh with an investment of Rs 250 crore in March 2023. This will be the second consecutive plant from Elista in the state.

By Irfan Ahmed Nazir

United Arab Emirates, host of this year’s UN climate talks, unveiled on Thursday the much-awaited plans and priorities for COP28, to be held in November in Dubai. The plan could lead to a global agreement to double energy efficiency, triple renewable energy capacity to 11,000 GW, and double hydrogen production to 180 million tonnes a year by 2030. “This plan is guided by a single north star.

government representatives from some 40-odd countries, representing major negotiating groups, are in Brussels for the Ministerial on Climate Action (MoCA), jointly chaired by the European Union, China and Canada. The two-day informal ministerial, which begins today, is the first meeting since the UN climate talks Bonn in mid-June that saw sharp exchanges over addressing the need to reduce emissions and the provision of support particularly to developing countries to undertake climate action.

Ahead of COP28, the UAE's EV market is booming, bolstered by private investments, government initiatives, and partnerships with countries such as India

The head of this year’s United Nations’ climate talks has called for governments and businesses to tackle global warming by reducing greenhouse gas emissions in all regions and sectors if they want to stop the planet from passing a key temperature limi...

A popular online influencer has been arrested in Dubai over a satirical TikTok video in which he portrays a brash Emirati on a spending spree inside a luxury car showroom

France may adopt India's Unified Payments Interface (UPI) for faster payments, according to media reports. As per reports, the two countries will discuss the launch of UPI in France during Prime Minister Narendra Modi's visit. The launch will be along the lines of India-Singapore fast payment linkage.

UAE's Federal Authority for Identity, Citizenship, Customs, and Ports Security has made the extension of visit visas for relatives or friends easier. Holders of visit visas, valid for 30, 60, or 90 days, now have the option to extend their visas on an app for an additional 30 days by paying a fee of Dh750. Applicants can use the smart app UAEICP to apply. The visitors need to be present in the country during the application and possess a passport that is valid for at least six months. The required documents for the extension include the original entry permit and a colored personal photo that meets the approved standards. Applications that are returned due to missing information or incomplete documents will be electronically rejected after a period of 30 days. If an application is rejected three times, it will be permanently rejected. In case of rejection, the refund will only cover the issuance fees and any financial guarantees provided.

Narendra Modi embarked on an official visit to France and the United Arab Emirates (UAE) on July 13 morning. The trip to France was made in response to an invitation from French President Emmanuel Macron and will take place from July 13 to 14. Before departing for France, Prime Minister Modi expressed his anticipation for the meeting with President Macron and expressed his desire to further enhance the partnership between the two countries.

Narendra Modi has departed India for an official visit to France and UAE on Thursday. The Prime Minister will visit France on July 13-14 at the official invitation of French President Emmanuel Macron. “This visit is particularly special as I will join President Macron for the French National Day, or Bastille Day celebrations in Paris as the Guest of Honour.

The union government on Wednesday restricted imports of certain gold jewellery and articles amid swelling trade deficit.  As per the directorate general of foreign trade (DGFT) notification an importer would need a permission of licence from the government for importing these gold products. Trade gap had hit 5-month high in May as exports dropped 10% in May amid slowing demand from western countries.  However, DGFT said that the restrictions will not be imposed imports under the India-UAE free trade agreement.

Ahead of Prime Minister Narendra Modi’s visit to the UAE later this week, India’s engagement with the Gulf Cooperation Council (GCC) has gained momentum as discussions on the Free Trade Agreement (FTA) between the two parties resume.

government on Wednesday imposed restrictions on imports of certain gold jewellery and articles. In a notification, the directorate general of foreign trade (DGFT) amended the import policy for unstudded jewellery made of gold, and other articles made of gold to “restricted” from “free”.

Gulf Cooperation Council have resumed talks for concluding a free trade agreement which is expected to bring new business opportunities for both sides, a top Indian official said on Wednesday as he expressed hope that the deal would soon become a reality. Secretary (Consular, Passport & Visa and Overseas Indian Affairs) in the Ministry of External Affairs Ausaf Sayeed also shared that India is in discussion with its bilateral partners with regard to alternate payment mechanisms like rupee trading and barter trading «especially under the new circumstances where most countries are facing challenges of foreign currency».

China’s fast expanding economic footprint across the Arab world, with a focus on opportunities in various sectors, including healthcare, retail and infrastructure. The sixth edition of the conference is also aimed at promoting a multidirectional flow of investment and facilitating investment in areas of new opportunities, officials said.

Companies like digital identity verification services provider IDfy, digital signature services company EMudhra and Signzy, which offers online identity verification, are looking for business opportunities in the Middle East, Southeast Asia and even the Americas. Besides these players who are commonly clubbed under regtech, or tech companies operating in the regulatory domain, other software-led fintechs are also looking outside India. Spocto, a debt-collections platform which is owned by fintech unicorn Yubi, has opened operations in Dubai.

Dubai-based cryptocurrency exchange BitOasis, which received a minimum viable product (MVP) operational license from the UAE’s crypto regulator in April, is now facing enforcement actions from the authority.

Clensta International has raised Rs 75 crore in its pre-Series funding, led by TradeCred and the Royal Family of the UAE, a top company executive told ET. The executive added that the Export-Import Bank of India (EXIM Bank), Mumbai Angels, Keiretsu, LetsVenture and O2 VC Fund were among the investors who took part in the funding round. The funding includes a mix of debt and equity.