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Indian-origin steel magnate Lakshmi N Mittal, until now based in Britain and a regular on the country's richest billionaires tally, has decided to quit the UK as the Labour Party-led government's feared tax shake-up for the super-rich nears, according to a UK media report on Sunday. Rajasthan-born Mittal is a resident in Switzerland for tax and will now spend much of his future in Dubai, according to the The Sunday Times'. The founder of ArcelorMittal steelworks is worth an estimated 15.4 billion pounds as per the 2025 Sunday Times Rich List', which ranked him the UK's eighth richest man. Now, the newspaper references sources close to the 75-year-old industrialist to claim he has become the latest billionaire to leave the UK ahead of a much-anticipated Budget by Chancellor Rachel Reeves on Wednesday. Mittal already has a mansion in Dubai and has now bought up tracts of an intriguing development on the nearby Naa Island in the United Arab Emirates (UAE), the newspaper claims. The n
Indian companies are increasing their presence in Abu Dhabi, which has enabled them to access key markets across the middle east Africa and beyond, Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development, said on Thursday. Speaking at the CII-ADF Summit here, Al Zaabi, who is also chairman of Abu Dhabi's International Financial Centre and free economic zone ADGM (Abu Dhabi Global Market), said the emirate believes in partnerships and not transactional relationships. "India has always been an important part of our growth. That role tells a powerful story of confidence in Abu Dhabi's vision. Indian companies are increasing their presence in Abu Dhabi with an annual compounded growth rate (CAGR) of 38.4 per cent between 2019 and 2024. And they are more enabled than ever before to access key markets across Middle East Africa and beyond," he said. Describing India as a nation whose energy, talent and ambition inspire the whole world, he said, "The geographic .
Business solutions provider Transguard Group on Wednesday announced signing a strategic pact with digital automotive platform myTVS for transforming the automotive, aviation and supply chain sectors in the UAE. The collaboration is designed to introduce innovative solutions, drive industry-wide efficiencies, and competitiveness across these key sectors, the company said. "By providing complete end-to-end solutions, the collaboration between Transguard and myTVS will target logistics, fleet, enterprise and individual consumers across all industries in the UAE," said Rabie Atieh, Chief Executive Officer, Transguard Group. Leveraging on myTVS' experience and technology, the focus will be on introducing innovation in key operational areas in the UAE, including inventory management, parts and service, diagnostics, network connectivity and uptime management solutions, the company stated. "The myTVS digital platform will seamlessly integrate the ecosystem while supporting diagnostics, ...
JK Foods' snack brand Fun Flips has entered the UAE market, in partnership with Lulu International group, one of the largest retail chains in the Middle East. Through Lulu's retail network, Fun Flips has already achieved strong initial penetration in the UAE and is now gearing up to expand in other GCC markets such as Saudi Arabia, Oman, and Bahrain, according to a joint statement. It has a 'long-term vision' of establishing a strong presence across the entire Gulf region, it added. Commenting on the development, Lulu Group International Chairman and Managing Director Yusuff Ali M A said: "With our wide customer base and retail presence, we believe Fun Flips will gain significant traction in the Gulf market." Chaitanya Singhania, CEO, JK Foods, said: "Lulu's unparalleled retail network and deep understanding of the consumer landscape make them an ideal partner for this journey.
A Babbar Khalsa International terrorist, involved in multiple heinous crimes, has been extradited from the UAE, said a top Punjab Police officer on Saturday. Parminder Singh alias Pindi, a close aide of foreign-based terrorists Harwinder Singh alias Rinda and Happy Passia, has been brought from Abu Dhabi in the UAE in close coordination with the central agencies, said Director General of Police Gaurav Yadav. Yadav said Pindi was involved in multiple heinous crimes, including petrol bomb attacks, violent assaults and extortions in Batala in Gurdaspur. In a post on X, Yadav said acting swiftly on a red corner notice (RCN) requested by the Batala police, a dedicated four-member team led by a senior police officer travelled to the UAE on September 24, coordinated with the Ministry of External Affairs and the UAE authorities. After completing all legal formalities, the police team successfully brought the accused back to face justice, said Yadav.
India and the UAE will review progress of bilateral trade pact, double taxation treaty and central Bank matters during the two-day visit of Commerce and Industry Minister Piyush Goyal to the gulf country, an official statement said on Wednesday. Goyal is visiting the United Arab Emirates (UAE) from 18-19 September to co-chair the 13th India-UAE High Level Task Force on Investments (HLJTFI), along with Sheikh Hamed bin Zayed Al Nahyan, Managing Director of the Abu Dhabi Investment Authority (ADIA). "The meeting will review progress on the India-UAE Comprehensive Economic Partnership Agreement (CEPA), the Double Taxation Treaty, and UAE-India Central Bank matters," the commerce and industry ministry said. Both sides will also explore opportunities for investment in key sectors, including maritime and space, that hold strong potential for growth, it added. During the visit, Goyal will also co-chair the UAE-India Business Council (UIBC) round-table with Thani bin Ahmed Al Zeyoudi, UAE
India is in "deep negotiations" to create 1 million homes in Australia and has reached out to the UAE for financial help on the same, Union Minister Piyush Goyal has said. Goyal, who handles the Commerce and Industry portfolio, pegged this as a USD 500 billion opportunity. "I am in deep negotiation with my counterpart in Australia to create 1 million homes. 1 million homes. Anybody wants to do the maths? A million homes in Australia would be at least USD 500 billion opportunity," Goyal said while speaking here over the weekend. He did not elaborate on details of the project, like the location in Australia, the exact spending by Canberra on it, or India's role in the project. Goyal said New Delhi is proposing to allow Indian workers to go to Australia, get trained on the necessary skill sets required to build homes as per local standards and create the housing. According to some reports, there is a mismatch between demand and supply in Australia, which is blamed for the high home .
Madhya Pradesh Chief Minister Mohan Yadav on late Sunday night said that his official visit to the UAE and Spain is set to create over 14,000 jobs in the state.Yadav stated that following the Madhya Pradesh Global Dialogue-2025, the state received investment proposals worth over Rs 11,119 crore.In a post on X, CM Yadav stated, "With the motto 'Make in India-Make in Madhya Pradesh,' investment proposals worth over Rs 11,119 crore have been received in all major sectors under the 'Madhya Pradesh Global Dialogue-2025' concluded in UAE and Spain. These will create more than 14,000 new employment opportunities in the state. After the visit to both nations, I reached Bhopal today and shared information with journalist friends.""In Madrid, Spain, the 'Invest in Madhya Pradesh - Business Forum' was held, where discussions took place with over 200 corporate and diplomatic representatives," he said."Addressed over 500 expatriate entrepreneurs at the 'Friends of MP' conference held during the ...