Page 11 - Dubai

Funding green growth

Private sector will need to increase investment

Mamata Banerjee reaches Dubai from Spain, to hold meetings with investors

After a "successful" tour of Spain, West Bengal Chief Minister Mamata Banerjee on Thursday morning reached the UAE where she will attend a series of meetings, including a business summit, a state government official said. Banerjee, who is scheduled to stay in Dubai till her planned return to Kolkata on September 23, will participate in a business summit and also meet a group of NRIs there, he said. "The chief minister reached the UAE early this morning. She will be staying there for the next two days and will attend a series of meetings, including a business summit. She will also meet a group of NRIs," the official said. Banerjee left for Spain on September 12 after a one-night stopover in Dubai, in a bid to attract investments in the state. She visited Madrid and Barcelona in Spain. During her stay in the European country, the chief minister met several investors and held meetings with NRIs, the official said. Among other significant developments, the Bengal government has signed

Mamata to leave for 11-day tour of Spain, Dubai to attend business summits

West Bengal Chief Minister Mamata Banerjee will leave for an 11-day tour of Spain and Dubai, during which she will attend business summits to attract investments to the state. Banerjee will leave for Dubai on Tuesday, and spend the night there due to the unavailability of connecting flights, before flying to Spain's capital Madrid the next day. "We will stay in Madrid for three days, during which we will attend a business summit and meet non-resident Bengalis. From there, we will take a train to Barcelona, where we will participate in a two-day meeting for the Bengal Global Business Summit (BGBS)," she told reporters at state secretariat Nabanna on Tuesday. She said this will be her first foreign tour in five years as the Centre "had not given her necessary permission earlier". Banerjee will be accompanied by Chief Secretary H K Dwivedi and senior office-bearers of renowned Kolkata football clubs Mohun Bagan, East Bengal and Mohammedan Sporting. She said former Indian cricket team

If next Indian unicorn wants to set up biz in Dubai, we will help: Badri

Badri who was on an India visit said that Dubai has laid out an ambitious $8.7 trillion economic plan in a decade under the Dubai Economic Agenda D33

Mamata to visit Spain, Dubai in September to attract investments: Official

West Bengal Chief Minister Mamata Banerjee is likely to visit Dubai and Spain in September to attract investments, a senior official said on Thursday. The central government has given its nod to Banerjee's trip, which is expected in the second week of September, he said. Banerjee will most likely fly to Dubai on September 13, and visit Spain thereafter, the official said. Her trip could continue till September 23. The chief minister is expected to meet industrialists and business tycoons in the two foreign countries," he said. In 2021, the Centre had not granted Banerjee permission to visit Rome, where she was scheduled to attend a world peace conference.

Gensol Engineering bags EPC projects worth Rs 101.6 crore in Dubai

Homegrown Gensol Engineering Limited on Tuesday announced bagging orders for EPC projects worth Rs 101.6 crore in Dubai. The Engineering, Procurement, and Construction (EPC) projects have been secured from Dubai Government Workshop Warehouse and Dubai Police, the company said in a statement. "Gensol Engineering announces its first international Solar EPC project in Dubai. Aggregating to a capacity of 14.08 MWp, these projects have a cumulative order value of Rs 101.6 crore, without taking taxes into account," it said. The two turnkey contracts with the Dubai Government Workshop Warehouse and Dubai Police entail design, engineering, supply, construction, erection, testing, and commissioning along with the operation and maintenance of these projects. The Dubai Government Workshop Warehouse project is slated for commissioning in November 2023, while the Dubai Police project is scheduled to go online in June 2024, the company said. "With this, we also venture into international market

Explained: Why residential properties in Mumbai cost more than in Dubai

The increase in the property prices in Mumbai has not dampened demand

Watch video: Video of Dubai Sheikh's giant Hummer X3 goes viral

A video went viral on Twitter (now X), where the colossal Hummer H1 'X3' could be seen, which is three times larger than the regular SUV. The video has been seen by more than 19.9 million people

Barbie's Giant 3D ad in front of Burj Khalifa has social media awestruck

A huge Barbie doll standing close to the Burj Khalifa has turned into a web sensation via social media. The video has gone viral with 3.5 million views on Instagram

Properties in Dubai more affordable than suburban Mumbai: Danube Group

Danube has been holding road shows in Mumbai and Delhi and other metros and also smaller towns such as Bhubaneswar and Srinagar to sell its properties

Dubai's stock market hits an 8-year high, lifted by a real estate boom

Buoyed by a surge in real estate activity, the Dubai Financial Market has reached its highest point in nearly eight years and extended year-to-date gains to nearly 25 per cent. The city-state's bourse peaked at 4,022 on Tuesday before pulling back to 3,986 on Thursday. It's trading at the highest levels since August 2015. This year the Dubai Financial Market has outperformed the S and P 500, which is up nearly 20 per cent, and the MSCI All Country World Index, a benchmark for global equities, which is up 16 per cent. Dubai, a global business hub home to 3.5 million people, weathered the pandemic while keeping its vital tourism industry afloat. The latest real estate boom is driven in part by an influx of Russian investors following Moscow's invasion of Ukraine. Shares of Emaar Properties and Emaar Development led the recent gains following a four-day break for the Muslim holiday of Eid al-Adha at the end of last month. The state-backed developers are behind dozens of high-rise ...

Air India Express flight delayed by 13 hours at Mangaluru airport

An Air India Express flight to Dubai which could not take off from the Mangaluru International Airport (MIA) on Monday due to a technical snag, finally departed on Tuesday afternoon, airport sources said. The flight was scheduled to take off at 11.15 PM on Monday. A total of 161 passengers, who were on the flight, remained stranded at the airport the entire night, causing severe hardship. An alternate flight was arranged from Thiruvananthapuram, which finally took off at 12.20 PM on Tuesday. Of the passengers, seven people departed in other flights owing to the delay, sources said. The passengers reportedly took the airport officials to task for the inordinate delay in the departure of the flight.

IndiGo adds flights to Abu Dhabi, Dubai from Lucknow airport from July 12

IndiGo will add two non-stop daily flights to Abu Dhabi and Dubai from the Lucknow airport starting July 12, officials said on Friday. After the flights to Abu Dhabi and Dubai are added both onward and return the average international flights at the airport will increase from 13 to 17 flights per day, a Chaudhary Charan Singh International Airport (CCSIA) spokesperson said in a statement. "Abu Dhabi will be the new destination for Indigo from Lucknow, while the airline will be re-starting its operations to Dubai from July 12. Last month, Lucknow airport added two flights to Dammam and with addition of four flights to Abu Dhabi and Dubai from next month, the total average international flights will go up to 17 from 13 flights per day," CCSIA said. The daily non-stop flight from Lucknow airport to Abu Dhabi will depart at 18.20 hrs and the Abu Dhabi to Lucknow flight will arrive at 03.25 hrs. The Lucknow-Dubai flight will depart at 13.30 hrs and Dubai-Lucknow flight will arrive at .

Indian among contenders for Dubai's most expensive house for sale

Two people have viewed the home in past three weeks. One is an Indian client who already owns three properties in Emirates Hills; his wife is on the fence, leaning toward something more contemporary

V Jagannathan quits from Board of Star Health and Allied Insurance Company

The founder of one of the largest private sector health insurers Star Health and Allied Insurance Company Ltd Venkatasamy Jagannathan has tendered his resignation from its Board with immediate effect, industry sources said on Sunday. An industry veteran, Jagannathan had stepped down from his role as the Chairman of the city-headquartered firm in May. "...we wish to inform you that Venkatasamy Jagannathan vide e-mail dated June 10, 2023 has tendered his resignation from the Board of the Company with immediate effect from June 10, 2023," Star Health and Allied Insurance Company Ltd said in a BSE filing on Saturday. Jagannathan, after attaining superannuation from the United India Insurance as its Chairman and Managing Director, founded Star Health and Allied Insurance with the backing of Dubai-based ETA Group. "We started with just 12 people, rented premises with Rs 30,000. Star Health is now valued at more than Rs 30,000 crore," he said. According to company's FY 2021-22 annual rep

Odisha govt wants to boost tourism with launch of direct Int'l flights

With the launch of direct flights connecting Bhubaneswar to Dubai, Bangkok and Singapore under the Viability Gap Funding scheme, the Odisha government is hopeful of doubling its foreign tourist arrivals in the state by 2025 from its pre-pandemic levels, a tourism official said on Monday. A "Viability Gap Funding" (VGF) is a government grant provided to airlines to bridge the gap between the cost of operations and expected revenues. "The target is to double the foreign tourist arrivals by 2025 to 2.5 lakh from the pre-Covid peak of 1.2 lakh witnessed in 2019," Sachin Jadhav, Director of Tourism Odisha, said. The Odisha government has allocated Rs 660 crore in its budget for the current financial year for the tourism sector. With the launch of direct flights with these three cities, we expect a surge in international tourists taking onward flights to Odisha, Jadhav said during the Odisha Tourism Roadshow here. We have shown a more proactive approach in starting direct flights to ...

India emerges as key source country for FDI into Dubai, says report

India has emerged as a key source country for Foreign Direct Investment (FDI) in Dubai, one of the wealthiest of the seven emirates in the United Arab Emirates, according to a report released on Monday. It ranked among the top five source countries for announced FDI projects and estimated FDI capital, according to a report released by "fDi Markets', a service from UK's Financial Times Ltd. With 77.5 per cent of greenfield projects, the top sectors by FDI projects from India into Dubai in 2022 were software & IT services (32 per cent), business services (19 per cent), consumer products (9 per cent), real estate (6 per cent), and financial services (5 per cent). Meanwhile, the top sectors by FDI capital from India into Dubai in 2022 were consumer products (28 per cent), software & IT services (20 per cent), communications (19 per cent), pharmaceuticals (8 per cent), and business services (8 per cent). Apart from maintaining its first rank as a destination city for FDI from ...

Micky Jagtiani, founder of retail giant Landmark Group, passes away at 70

Jagtiani was originally from India and started the business in 1973 with one store in Bahrain

Gem export promotion council launches India jewellery exhibition in Dubai

Gem and Jewellery Export Promotion Council on Tuesday launched India Jewellery Exposition Centre, a 365-day exhibition platform, in Dubai to commemorate the first anniversary of the Comprehensive Economic Partnership Agreement. "CEPA is one of the most ambitious pacts. India's exports to UAE have exceeded USD 30 billion, with gems and jewellery and plastics deriving benefits from lower-priced inputs. GJEPC (Gem and Jewellery Export Promotion Council) has set up IJEX and I see tremendous value in such initiatives. "CEPA will accelerate business momentum and is expected to transform the scale and scope of bilateral partnerships," Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Rajesh Kumar said in a statement. The Comprehensive Economic Partnership Agreement (CEPA) has been a boon to the bilateral trade relations between the two nations, with India-UAE trade growing by 16 per cent to reach USD 84.5 billion in 2022-23 from USD 72.9 billion the previous year.

612,000 Indians visited Dubai during Jan-Mar quarter, up by 62% YoY

Dubai hosted 6.12 lakh visitors from India during the January-March quarter this year, a sharp uptick of 62.76 per cent compared to the same period last year, Dubai's Department of Economy and Tourism (DET) said. The Middle East country had hosted 3.76 lakh visitors from India during the corresponding quarter in 2022, according to the latest data published by DET. Overall, Dubai welcomed 46.7 lakh international overnight visitors in the first quarter of 2023, compared to 39.7 lakh tourists during the same period in 2022, marking a 17 per cent YoY growth. "The remarkable growth in international visitation achieved in the first quarter of 2023 demonstrates the city's emergence as one of the key destinations leading the way in the rebound of the global tourism sector," Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, said. He said, the Dubai Economic Agenda charts an ambitious new path for Dubai to enhance its ...