Page 29 - Middle East

Wipro signs multi-year deal with Finastra for corp banks in Middle East

IT company Wipro on Thursday said it has signed a multi-year digital transformation partnership with fintech firm Finastra for corporate banks in the Middle East. The multi-year engagement will make Wipro the exclusive implementation and go-to-market partner to deploy Finastra's trade finance solutions in the region, a company statement said. "Corporate banks are key players in the sector and are significantly transforming the way they operate to cope with the ever-evolving industry. Reimagining digital services to improve client experiences and rationalizing platform and operations centres to drive efficiencies are key priorities for the sector. "This exclusive partnership with Finastra will enable us to help clients transform into truly digital platform players," Wipro's Regional Head of Banking, Financial Services and Insurance (BFSI) for Middle East, Mohamad Hamza said. Wipro has been operating in Middle East since last several decades. It is one of the six focus regions that .

Hard truths about soft power

The sub-optimal outcomes of Qatar's image management project hold salutary lessons for India

Here's all you need to know about $300 bn controversial Qatar World Cup

It's set to the biggest sporting event ever held in the Middle East -- and in a conservative, majority-Muslim country to boot.

Change is afoot in Saudi Arabia

The West Asian kingdom is rapidly shedding its image as an insular Islamic state. Nowhere is this change more remarkable than in the status of women

Mideast, North Africa economies resilient, inflation to slow growth: IMF

The economies of Middle Eastern and North African countries were resilient this year, but double-digit inflation is expected to slow growth in 2023, the International Monetary Fund said on Monday. The IMF forecast GDP growth at 5per cent in 2022 for countries in the region. For oil-exporting nations, growth was projected at 5.2 per cent, mainly due to high oil prices and robust GDP growth in other countries, which offset the impact of high food prices. But the rate of growth is expected to slow in 2023, due in part to inflation driven by high food and commodity prices, the report said. And the outlook remained so dire for politically unstable Lebanon and war-scarred Syria that the IMF reported no economic projections for either. Higher energy prices sustained oil-producing nations, such as Saudi Arabia, where economic growth is expected to hit 7.6 per cent this year. Oil exporters are also benefitting from trade diversions caused by the war in Ukraine, as some European countries l

India's Russian oil binge sends West Asian imports to 19-month low

India's imports from the West Asia fell to about 2.2 million bpd, down 16.2% from August

On witness stand, ex-US prez Trump's ally denies foreign influence charge

A California billionaire known as an ally of Donald Trump has used his testimony at his federal trial to question Trump's leadership on foreign policy, saying the former president was clueless about the dynamics in the Middle East. The defendant, Tom Barrack, is accused of using his unique access as a longtime friend of Trump to provide confidential information about the Trump administration to the United Arab Emirates to advance the UAE's foreign policy and business interests. Prosecutors say while UAE officials were consorting with Barrack, they were rewarding him by pouring millions of dollars into his business ventures. Barrack, the onetime chair of Trump's inaugural committee, told a New York City jury on Monday that he considered Trump to be bold and smart businessman, and had backed his candidacy as a political outsider who could be a good thing for the system. However, he testified that he later grew disillusioned because of Trump's anti-Muslim rhetoric and other divisive .

Iraq's regional Kurdistan parliament extends legislative term for 1 year

The lawmakers of Iraq's semi-autonomous Kurdistan region have voted to extend the current four-year legislative term of the regional parliament for one more year

Israeli PM, Jordanian King discuss tensions in Middle East at UNGA meet

Israeli Prime Minister Yair Lapid and King Abdullah II of Jordan met on the sidelines of the United Nations General Assembly in New York and discussed the tensions in the Middle East region

Russia's recent losses in Ukraine may make Middle East think on realignment

Advance of Ukrainian forces into Russian-held territory in Ukraine has most probably led several Middle East countries, to rethink a possible re-alignment towards Russia and relations with US

Queen's reign saw ages of British rule leave Middle East with mixed legacy

The long reign of Queen Elizabeth II saw large swaths of the world cast off London's rule, but after her death a handful of British-installed monarchies still endure in the Middle East. They have survived decades of war and turmoil and are now seen as bastions of a certain kind of authoritarian stability. When popular uprisings erupted across the region a decade ago in what was known as the Arab Spring, sweeping away regimes with anti-colonial roots, hereditary rulers were largely unscathed. The days of imperial pomp and gunships may be over, but the region's emotional and financial ties to England run deep. Emirs, sultans and kings attend the Royal Military Academy at Sandhurst. Gulf Arab sovereign wealth has helped reshaped London's skyline. As the son of a British mother, Jordan's King Abdullah II also has familial and cultural ties to Britain. Jordan's ruling Hashemites, who come from the Arabian Peninsula and claim descent from the Prophet Muhammad, launched the revolt agains

Jordan warns about decline in international support for Syrian refugees

Jordan has warned against the noticeable decline in international support extended to refugees in the Middle East and the related UN institutions

Titan to expand Tanishq stores' footprint in the Middle East and N America

Expects 15-20 per cent higher sales in this festive season

Gulf won't significantly cut down oil exports to India to satisfy Europe

Gulf oil exporters will most likely not cut crude supplies to India significantly next year in a bid to satisfy growing demand from Europe

Bangladeshi man arrested at Lucknow airport for 'buying' Indian passport

A Bangladeshi man was arrested at the Lucknow airport for buying a fake Indian passport for Rs 1 lakh and a fake Aadhaar card for Rs 10,000 to go to the Middle East in search of livelihood

Israel, militants trade fire as Gaza death toll climbs to 24, 203 injured

Israeli airstrikes flattened homes in Gaza and Palestinian rocket barrages into southern Israel persisted for a second day, raising fears of another major escalation in the Mideast conflict

SpiceJet in discussion with Middle Eastern carrier for possible stake sale

Low cost carrier SpiceJet is said to be in active discussion with a Middle Eastern carrier for a possible stake sale

UN mission, Arab League call for end to escalation amid protests in Iraq

The UN Assistance Mission for Iraq (UNAMI) and Arab League have called for an end to the escalation in the country during protests against the nomination of Mohammed Shia' al-Sudani for PM post

India to contribute in economic growth of Middle East, S Asia under I2U2

India said it has vital stakes in peace and prosperity in the Middle East through I2U2 and is confident of making significant contributions to energy, food security and economic growth in South Asia

Leaders vow for security, stability in Middle East at Jeddah summit

Hosted by Saudi Arabia, the summit was attended by leaders of the Gulf Cooperation Council, Egypt, Iraq, Jordan and the US