Gulf Countries

'Omanisation' last key issue in concluding India-Oman FTA talks: Official

The negotiations for the proposed India-Oman free trade agreement are nearing conclusion with both sides discussing the last issue of the Gulf country's labour-related 'Omanisation' policy, as New Delhi wants the current regime to remain unchanged for its workers, an official said. Omanisation is a policy implemented by Oman to boost the employment of its citizens in the private sector. The policy mandates companies to meet specific quotas for hiring Omani nationals. These quotas vary by sector and are periodically revised. "There is a requirement in Oman for companies to employ a specified percentage of Omani nationals, which varies by sector - 15 per cent or 20 per cent or 30 per cent...What we want is that this current regime of Omanisation should remain permanent for us, so that it does not become more restrictive in the future after the FTA is finalised," the official said. The negotiations received a much-needed impetus after the visit of Commerce and Industry Minister Piyush

Trump starts his Mideast trip with visit to Saudi amid crush of problems

President Donald Trump is opening his four-day Mideast trip on Tuesday by paying a visit to Saudi Arabia's de facto ruler, Crown Prince Mohammed bin Salman, for talks on US efforts to dismantle Iran's nuclear programme, end the war in Gaza, hold down oil prices and more. The crown prince will fete Trump with a formal dinner and host a gathering of members of the Gulf Cooperation Council, which is made up of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. Saudi Arabia and fellow OPEC+ nations have already helped their cause with Trump early in his second term by stepping up oil production. Trump sees cheap energy as a key component to lowering costs and stemming inflation for Americans. The president has also made the case that lower oil prices will hasten an end to Russia's war on Ukraine. But Saudi Arabia's economy remains heavily dependent on oil, and the kingdom needs a fiscal break-even oil price of $96 to $98 a barrel to balance its budget. It's ...

Trump visiting Gulf Arab states while crises escalate in Gaza, Iran

On his trip this week to the Middle East, US President Donald Trump will visit Saudi Arabia, Qatar and the United Arab Emirates, though his most pressing regional challenges concern two other countries: Israel and Iran. After ending a ceasefire two months ago, Israel is intensifying the war in the Gaza Strip, where a blockade on food, medicine and other supplies is worsening a humanitarian crisis. And Iran, an enemy of Israel and a rival of Saudi Arabia, stands on the cusp of being able to develop nuclear weapons. Yet Trump will focus his attention on three energy-rich nations home to existing or planned Trump-branded real estate projects places where he aims to leverage American economic interests to do what he personally revels in: making business deals. This is his happy place, said Jon B Alterman, a senior vice president at the Washington-based Centre for Strategic and International Studies. His hosts will be generous and hospitable. They'll be keen to make deals. They'll flatt

Trump plans to announce US will call Persian Gulf Arabian Gulf: Officials

President Donald Trump plans to announce while on his trip to Saudi Arabia next week that the US will now refer to the Persian Gulf as the Arabian Gulf or the Gulf of Arabia, two US officials told The Associated Press on Tuesday. Arab nations have pushed for a change to the geographic name of the body of water off the southern coast of Iran, while Iran has maintained its historic ties to the gulf. The US officials spoke on condition of anonymity to discuss sensitive matters. The White House and National Security Council didn't immediately respond to messages seeking comment. The Persian Gulf has been widely known by that name since the 16th century, although usage of Gulf of Arabia and Arabian Gulf is dominant in many countries in the Middle East. The government of Iran formerly Persia threatened to sue Google in 2012 over the company's decision not to label the body of water at all on its maps. On Google Maps in the US, the body of water appears as Persian Gulf (Arabian Gulf). .

Amit Shah sets ₹2 trn export target for NCEL, reviews national coop bodies

Union Home and Cooperation Minister Amit Shah on Saturday directed the National Cooperative Exports Ltd (NCEL) to work towards an ambitious export target of Rs 2 lakh crore and identify three specific products not currently being exported from India. Chairing a high-level review meeting in the national capital to evaluate the progress of three national cooperative institutions created in 2023, Shah instructed NCEL to explore new export opportunities for sugar from cooperative mills, aromatic rice from Tripura, organic cotton, and coarse grains. The Union Minister also suggested partnerships with large companies for export of fresh vegetables to Gulf countries and special potato varieties, while recommending NCEL establish offices in Africa and Myanmar specifically for pulses import. "The minister has suggested establishing NCEL offices in Africa and Myanmar specifically for pulses imports and developing a dedicated website for cooperative members," according to an official ...

Traditional beverage Goli Soda sees strong demand in US, Europe, and Gulf

India's traditional beverage Goli Soda is witnessing strong consumer response in key international markets, including the US, UK, Europe, and the Gulf, driven by strategic expansion and innovative reinvention, an official statement said on Sunday. Under a strategic partnership with Fair Exports, India has ensured steady deliveries of Goli Soda, rebranded as Goli Pop Soda, to Lulu Hypermarket, one of the largest retail chains in the Gulf region, the commerce ministry's arm Agricultural and Processed Food Products Export Development Authority (APEDA) said. "This iconic beverage, once a household staple, is making a remarkable comeback on the global stage, driven by its innovative reinvention and strategic international expansion," it said, adding the product has already made strong inroads in global markets, with successful trial shipments to the USA, UK, Europe, and Gulf countries. The revival of this beverage, which had nearly disappeared due to the dominance of multinational bevera

GCC region 2024: India deepens ties with first PM visit to Kuwait in 40 yrs

India has deepened its diplomatic and economic ties with the Gulf Cooperation Council region this year with Prime Minister Narendra Modi visiting three of the six GCC countries including Kuwait where no Indian PM had been after Indira Gandhi. As 2024 unfolded, a renewed focus on strategic partnerships in the region took centre stage, with Abu Dhabi serving as the pivotal gateway to this robust alliance. From high-profile visits to pivotal agreements, the story of India and the GCC, an influential grouping comprising the United Arab Emirates, Bahrain, Saudi Arabia, Oman, Qatar and Kuwait, is a dynamic one. Abu Dhabi, the capital of the UAE, became Prime Minister Narendra Modi's first GCC destination in 2024. The India-UAE bonhomie has been an ongoing story in recent years, and some layers were added this year. PM Modi's Abu Dhabi visit may have hogged the limelight due to the much-talked-about inauguration of BAPS Hindu Mandir; it also gathered momentum on substantive bilateral ..

Public finances of GCC countries witness surplus in 2022, 2023: GCC-Stat

The reports issued by Credit rating agencies also signalled an improvement in the sovereign bond rating of the GCC countries in 2023

India will become growth engine of the world: PM Modi in Kuwait

While speaking at the 'Hala Modi' community event at Kuwait's Sheikh Saad Al-Abdullah Indoor Sports Complex, PM Modi highlighted India's rapid transformation in various fields

Law firms across globe rush to cash in on $150 bn West Asia deal boom

The $150 billion of deals involving Gulf firms in 2024 marks a 62 per cent increase from the same period last year, according to data compiled by Bloomberg

Govt recommends prosecution in online job scams, urges website blocks

External Affairs Minister S Jaishankar told the Lok Sabha on Friday that his ministry has requested for blocking certain websites offering fraudulent jobs abroad and also recommended for the prosecution of those involved in such scams. Responding to supplementaries, Jaishankar said the government has brought back 1,167 Indians from Cambodia and another 497 from Myanmar, who were taken there on the pretext of getting them jobs. He said people are made to work illegally by those running such online scams. "In India, we have requested for the blocking of sites which promote such jobs. We have recommended prosecution in certain cases for people who have been involved in this," the minister said during the Question Hour. He said a "different set of problems" have been raised for West Asia, the Gulf and the Middle East, "where we have a situation" of under-payment or non-payment of wages and maltreatment of Indian professionals and workers. Jaishankar asserted that the Indian embassies

Late season storm could disrupt 4 mn barrels of US oil output: Researchers

Raphael, the 17th named storm of the Atlantic hurricane season, is on a track would take it through areas of the Gulf that are heavy with oil and gas platforms

'Davos in the desert' finds no mention of ongoing conflict in West Asia

Saudi Arabia, its Gulf neighbours seek to reassure investors that it's safe to do business amid turmoil in West Asia

Gulf states must not allow use of airspace against Iran, says official

Any action by a Gulf country against Tehran, whether by airspace or military bases, will be regarded as an action taken by the entire group, and we will respond accordingly, Iranian official said

Gulf Cooperation Council calls for immediate ceasefire in Lebanon

The Secretary-General of the GCC, Jassim Mohammed Al-Budaiwi, reaffirmed in a statement the GCC's consistent support for the Lebanese people

Hurricane Francine forces Louisiana evacuations, oil & gas shutdowns

Francine was developing more slowly than earlier forecast but could still wallop the Louisiana coast on Wednesday

Tropical disturbance in Mexico to bring rain to parts of Texas, Louisiana

A tropical disturbance in the southwestern Gulf of Mexico was expected to bring significant rainfall to parts of Texas and Louisiana this week and could quickly develop into a stronger storm, including a hurricane, the National Weather Service says. The system was forecast to drift slowly northwestward during the next couple of days, moving near and along the Gulf coasts of Mexico and Texas, the weather service said on Sunday. Donald Jones, a meteorologist with the National Weather Service in Lake Charles, Louisiana, said during a weather briefing Saturday night that parts of Southeast Texas and southwest Louisiana should expect a whole lot of rain in the middle and later part of this week. Definitely want to continue to keep a very close eye on the forecast here in the coming days because this is something that could develop and evolve fairly rapidly. We're looking at anything from a non-named just tropical moisture air mass all the way up to the potential for a hurricane, Jones ..

The petrochemical shift that could quench LPG production thirst

IndianOil's petrochemical strategy is primarily based on utilising captive feedstocks, he said

Indian carriers divided on more bilateral rights to Gulf countries

Granting more rights to them would be equivalent to pulling rug from under our feet: Air India CEO

Ships transiting the Gulf, Western Indian Ocean should stay alert: Ambrey

Ambrey said it had received information that indicated an "Israeli military strike" was conducted on Isfahan, Iran