President Financial News

By David Morgan

Indian Prime Minister came as the relations between both nations are at an all-time high with trade reaching over $85 billion in 2022-23. Among the Gulf nations, UAE has the largest Indian expatriate community with 3.5 million Indian nationals living in the country. 1.

Congress president Sonia Gandhi will file her nomination from Rajasthan for the upcoming Rajya Sabha polls, party sources said on Tuesday. The sources said she will be travelling to Jaipur and party president Mallikarjun Kharge and her daughter Priyanka Gandhi Vadra are likely to accompany her for the filing of nomination papers. Gandhi, who represented Rae Bareli in Lok Sabha, will not contest the next general election. «She is likely to file nomination for Rajya Sabha on Wednesday,» a source said.

Indian community greeted Prime Minister Narendra Modi as he reached the hotel on the first day of the two-day visit to Abu Dhabi on Tuesday. Modi reached here earlier in the day to participate in the 'Ahlan Modi' ('Hello Modi' in Arabic) and address the large Indian community at the Zayed Sports City Stadium here later in the evening and on Wednesday would be inaugurating the largest Hindu temple in the UAE. As Modi reached the St Regis hotel after a bilateral meeting with Sheikh Mohamed bin Zayed Al Nahyan, the President of the UAE, men, women and children alike, all dressed in their colourful best traditional wear, gathered on a flight of steps at the hotel lobby and also overlooking from the first-floor lobby, engaged in cheerfully shouted slogans such as 'Modi Hai Toh Mumkin Hai,' 'Har Ghar Modi, Ghar Ghar Modi' and even 'Ahlan Modi.' Modi responded by waving back at them.

Basirhat turned into a war zone on Tuesday as stones were hurled at police, and major ruckus prevailed in front of the Superintendent of Police's office in Basirhat when BJP State President Sukanta Majumdar and BJP workers were stopped on their way to Sandeshkhali, leading to clashes between BJP members and police. Meanwhile, protests erupted across the state by the Left, and a Congress delegation was stopped on their way to Sandeshkhali in Dhamakhali. Police resorted to lathi charges and lobbed tear gas shells to bring the situation under control after stones were hurled, and chaos ensued amid BJP workers breaking barricades. Clashes broke out between police and BJP supporters several times as BJP workers led by Majumdar attempted to break prohibitory orders near the SP's office in Basirhat amidst protests by the saffron party over alleged assaults and harassment of women in the Sandeshkhali block. Majumdar stated, «The attack was pre-planned. It was orchestrated by the police to injure me and attack us. We had written a letter to the Police Superintendent about our apprehensions of an attack. But the Police did not pay any heed to it.»

Narendra Modi on Tuesday told the Indian diaspora at the 'Ahlan Modi' event in Abu Dhabi that he has come to meet his family members in the gulf country, adding that he has brought the fragrance of the soil where they were born. The Indian prime minister, who was addressing the Indian diaspora at Sheikh Zayed Stadium said that he has brought the message of 140 crore brothers and sisters of the country where they (the Indian diaspora) were born and the message is that India is proud of them, they are the pride of Bharat. Thanking UAE's President Sheikh Mohamed bin Zayed Al Nahyan for the warmth and hospitality extended to him, the prime minister said India-UAE relations reaching unprecedented heights, and both the countries are partners in each others' progress.

The move underscores Ripple's commitment to regulatory compliance and enables the company to expand beyond its primary payments network into other blockchain-based financial products for institutional clients. Under the proposed deal, Ripple will gain access to Standard Custody's limited purpose trust charter and its money transmitter licenses, contributing to the firm's growing portfolio of regulatory licenses.

Devendra Fadnavis, who couldn't stop himself from cracking up while embarrassment was visible on Ashok Chavan's face. The senior BJP leaders present on the stage also laughed looking at each other before moving on to the remaining formalities. Later, Ashok Chavan apologized for the slip of his tongue and said "I have just joined (the BJP).

NEW DELHI : India and the UAE concluded a bilateral investment agreement and also signed a framework agreement on the India-Middle East Economic Corridor (IMEC) during Prime Minister Narendra Modi’s two-day visit to the UAE. Modi met with his counterpart, UAE president Mohamed bin Zayed Al Nahyan, on Tuesday for both one-on-one and delegation-level talks. The bilateral investment agreement came after the two countries signed their Comprehensive Economic Partnership Agreement (CEPA) in 2022.

US President Joe Biden's cognitive abilities have been raised after he made one more gaffe publicly. While hosting the King of Jordan, Abdullah II at his official residence White House, he appeared confused on the stage. As the Jordanian King was ready to speak, Biden started looking for a mark on the floor to know the right place to stand. He wavered between two locations before deciding to proceed to Abdullah's left and in front of the Jordanian flag.

The Bill was passed by the two Houses of Parliament in the Budget session which concluded on February 10. It seeks to prevent the use of «unfair means» in public examinations and bring «greater transparency, fairness and credibility». It got the President's approval on Monday and shall come into force on a date decided by the Central Government by notification in the Official Gazette.

Narendra Modi received a warm welcome outside his hotel in Abu Dhabi on Tuesday after he arrived in the Gulf country to inaugurate the first Hindu temple in the United Arab Emirates' capital city and participate in the World Government Summit. Members of the Indian diaspora in Abu Dhabi lined up outside the hotel where the Indian prime minister was scheduled to stay and raised slogans of 'Modi-Modi, Modi Hai to Mumkin Hai and Bharat Mata ki Jai' as PM Modi arrived there. The Indian prime minister also warmly greeted the passionate Indian diaspora with namastes and shook hands with some of the members.

A special “Aastha” train, carrying approximately 2,000 pilgrims bound for Ayodhya in Uttar Pradesh, was inaugurated from Goa. The flagging off ceremony, held on Monday evening at Thivim railway station in North Goa district, saw the presence of Chief Minister Pramod Sawant, state BJP president Sadanand Shet Tanavade, and other MLAs. Chief Minister Sawant expressed his excitement about the journey, stating that the entire Goa Cabinet will visit the Ram Mandir on February 15.

Wipro, India’s fourth largest information technology (IT) services firm, on Tuesday said it will acquire US-based insurtech firm Aggne Global Inc and its Hyderabad-based affiliate Aggne Global IT Services for $66 million. Wipro will acquire 60% of the company in an all-cash deal, with an option to purchase the remaining stake over a period of time, as per a stock exchange filing.

By Hyunjoo Jin and Abhirup Roy

Foundation-focused cloud SaaS technology firm Foundation Source has acquired PG Calc to enhance its suite of charitable giving solutions.

United Arab Emirates President Sheikh Mohammed Bin Zayed Al Nahyan on Tuesday introduced UPI services in Abu Dhabi. The Indian Prime Minister is on a two-day visit to the Gulf nation, after which he will travel to Qatari capital Doha on Wednesday. Modi received a rousing welcome as he arrived in Abu Dhabi on Tuesday. He was welcomed by UAE President Mohammed bin Zayed Al Nahyan. The two leaders shook hands and hugged each other. Prime Minister Modi also received a guard of honour. PM Modi held wide-ranging talks with UAE President Sheikh Mohamed bin Zayed Al Nahyan.

Walmart has sourced goods worth over USD 30 billion from the Indian market in the last two decades for its global operations, a company official said on Tuesday. Now the Bentonville-headquartered firm has a goal to triple its sourcing of goods from India up to worth USD 10 billion per year by 2027, said Walmart Inc Executive Vice President, Sourcing Andrea Albright. Walmart is encouraging MSMEs (Micro, Small and Medium Enterprises) and entrepreneurs with proper training and believes that there is a tremendous opportunity to continue to contribute to India's growing economy, she said.

BJP will win all the seven Lok Sabha seats in Delhi with huge margins whether or not the AAP and Congress have an alliance, BJP's city unit president Virendra Sachdeva said on Tuesday. His reaction came as the AAP asserted it will contest six seats in the national capital, leaving just one for senior INDIA bloc ally Congress. The AAP has shown the Congress its reality in Delhi, Sachdeva said. «No matter whether the AAP and Congress have an alliance, we are going to win all the Lok Sabha seats, polling at least 65 per cent votes in the coming elections,» claimed the Delhi BJP president.

autorickshaw drivers of Ola and Uber have threatened to go on strike in Pune and Pimpri Chinchwad from this February 20. They are demanding revised cab fares to be implemented Keshav Kshirsagar, president of the Indian Gig Workers Front and Baghtoy Rickshawala auto union, said the companies are still to revise cab fares as set by the regional transport authority (RTA) on Jan 3. He announced plans for a significant demonstration at the Pune regional transport office (RTO) on February 20, followed by a cessation of Ola and Uber cab operations until revised fares are enforced. Additionally, autorickshaws associated with these companies and other app-based aggregators will also suspend services, with only metered autorickshaws remaining operational.

Milind Deora has added an element of intrigue to the political landscape, raising questions about the potential impact on both the Congress party and the BJP as they navigate the approaching electoral landscape for 2024 Lok Sabha Elections. As Congress gears up to fight the Lok Sabha elections with Maha Vikas Aghadi allies Shiv Sena (UBT) and Sharad Pawar's NCP faction, the grand old party banks on the ‘left-over’ prominent leaders to give a tough fight to the saffron alliance in Maharashtra that accounts for 48 Lok Sabha seats. Let's take a look Prithviraj Chavan succeeded Ashok Chavan, when the latter had to step down as the Maharashtra chief minister after being allegations of corruption were brought against Ashok Chavan in the Adarsh Housing Society scam.