Page 15 - Uae

PM Modi holds talks with UAE President in Abu Dhabi to boost bilateral ties

Prime Minister Narendra Modi on Saturday held talks with UAE President Sheikh Mohamed bin Zayed Al Nahyan to further deepen the multifaceted bilateral ties. Modi was accorded a ceremonial welcome here at the Qasr-Al-Watan the presidential palace - where he was greeted by the UAE President with a warm embrace. Children were seen waving the Indian tricolour as the Prime Minister inspected the guard of honour. Energy, food security, and defence are expected to be the focus areas of Modi's visit to the UAE during which the two countries will review the progress in bilateral relations after they inked a landmark trade agreement last year. The Comprehensive Economic Partnership Agreement (CEPA), which gave a new thrust to the economic engagement between the two countries, was signed during the Covid-19 pandemic. India and the UAE are engaged across various sectors such as trade, investments, energy, food security, science and technology, education, fintech, defence, security, and robus

PM Modi assures India's full support for UAE's COP-28 presidency: Report

Prime Minister Narendra Modi assured India's full support for UAE's COP-28 presidency as he held productive talks with the UN climate conference's President-designate Sultan Al Jaber here on Saturday. Modi arrived here in the capital of the UAE following his successful two-day visit to Paris where he joined French President Emmanuel Macron for the Bastille Day parade as the Guest of Honour and signed several agreements to strengthen bilateral ties. "PM @narendramod held a productive meeting with Dr. Sultan Al Jaber, President-designate of @COP28_UAE and Group CEO of Abu Dhabi National Oil Company," External Affairs Ministry Spokesperson Arindam Bagchi tweeted. "Dr. Jaber briefed PM on the forthcoming COP-28. PM assured India's full support for UAE's COP-28 presidency. PM also highlighted India's efforts and initiatives to address climate change," he said. The 2023 United Nations Climate Change Conference or Conference of the Parties of the UNFCCC, more commonly referred to as COP28

PM Narendra Modi arrives in UAE for final leg of two-nation visit

Prime Minister Narendra Modi arrived here on Saturday on a day-long visit to the UAE during which he will meet UAE President Sheikh Mohamed bin Zayed Al Nahyan and review the burgeoning bilateral ties between the two strategic partners. Modi arrived in Abu Dhabi following his successful two-day visit to Paris where he joined French President Emmanuel Macron for the Bastille Day parade as the Guest of Honour and signed several agreements to bolster bilateral ties. Prime Minister Modi will hold talks with Sheikh Al Nahyan, President of the UAE and Ruler of Abu Dhabi. "I look forward to meeting my friend, H.H. Sheikh Mohamed bin Zayed Al Nahyan," Prime Minister Modi said in his departure statement on Thursday. "Our two countries are engaged across a wide range of sectors such as trade, investments, energy, food security, science and technology, education, fintech, defence, security, and robust people-to-people ties," he said. Energy, food security, and defence are expected to be the

Pakistan gets $1 bn from UAE to boost its reserves: Finance Minister Dar

Pakistan on Wednesday received USD 1 billion from the UAE to boost its reserves, a day after Saudi Arabia transferred USD 2 billion to the country's central bank in the wake of a deal with the International Monetary Fund. Finance Minister Ishaq Dar announced the transfer of funds by the Gulf nation on the eve of the board meeting of the IMF to approve a USD 3 billion Stand-by Agreement. "We received confirmation some time ago that our brother country, our friend, the UAE has deposited USD 1 bn to the State Bank's account. The Federal Reserves Bank has confirmed that this amount has been credited to the (SBP's) account, he said in a video message shown live on television. Dar said the funds received from Saudi Arabia and the UAE this week had collectively "increased the country's reserves by USD 3 bn in two days" which would reflect in the weekly update of foreign exchange reserves due to be issued on July 14. He thanked the UAE leadership on behalf of Prime Minister Shehbaz Sharif,

Thomas Cook India's UAE subsidiary acquires 50% stake in 500 FT SPV

Travel services provider Thomas Cook India on Wednesday said its UAE subsidiary DEI Holdings Limited has acquired a 50 per cent stake in 500 FT SPV Limited. Thomas Cook India did not divulge details of the quantum of investment made by DEI Holdings in 500 FT SPV Limited, a UAE-incorporated firm. DEI Holdings Limited (DEI), a 51 per cent step-down subsidiary of the company in UAE, has invested into "500 FT SPV Limited," a company incorporated in the UAE. Post the investment, DEI owns 50 per cent stake in 500 FT SPV Limited, Thomas Cook India informed the BSE in a regulatory filing. Thomas Cook India had acquired imaging solutions and services provider Digiphoto Entertainment Imaging (DEI) in 2019.

PM Modi to visit UAE on July 15 on his return journey from France

Prime Minister Narendra Modi will visit Abu Dhabi on July 15 after concluding a two-day visit to Paris. The Ministry of External Affairs (MEA) said Modi will hold talks with Sheikh Mohamed bin Zayed Al Nahyan, the President of the United Arab Emirates (UAE) and ruler of Abu Dhabi. "The India-UAE Comprehensive Strategic Partnership has been steadily strengthening and the prime minister's visit will be an opportunity to identify ways to take this forward in various domains such as energy, education, healthcare, food security, fintech, defence and culture," it said. The prime minister is visiting France on July 13 and 14 at the invitation of French President Emmanuel Macron. Modi will be the guest of honour at the Bastille Day parade on July 14 in Paris where a tri-services Indian armed forces contingent would be participating. The MEA said President Macron will host a state banquet as well as a private dinner in honour of the prime minister. The two leaders will also hold wide-rang

Parineeti-backed Clensta raises Rs 75 cr from TradeCred, UAE Royal Family

Personal care startup Clensta International has raised Rs 75 crore in a funding round led by TradeCred and the Royal Family from UAE, the company said on Tuesday. Other investors who participated in the current round include Export-Import Bank of India, Mumbai Angels, Keiretsu, LetsVenture and O2 VC Fund, a company release said. "We are delighted to announce our recent round of funding and are grateful to the investors who've showed their faith in Clensta's vision. This good news comes at a time when there is significant stress in the startup ecosystem in India and we hope that for the startup industry, this positive announcement will open up new doors and avenues", he said. Clensta has raised Rs 105 crore since its inception in 2016, with participation from IIT Delhi and US-AID among other investors, the company said. "We look forward to supporting Clensta as they expand and grow their business in India and globally. What attracted us to the brand was their unique selling proposit

UAE announces plans to invest $54 bn in energy, triple renewable sources

The United Arab Emirates plans to triple its supply of renewable energy and invest up to USD 54 billion over the next seven years to meet its growing energy demands. Sheikh Mohammed bin Rashid Al Maktoum, the UAE's vice president and ruler of Dubai, announced the plans on Monday following a Cabinet meeting. They also include investments in low-emission hydrogen fuel and developing infrastructure for electric vehicles. He said the updated national energy strategy aims to triple the contribution of renewable energy over the next seven years and invest 150 billion to 200 billion dirhams (USD 40 billion to USD 54 billion) during the same period to meet the country's growing demand for energy. The major oil-producing nation has pledged to be carbon-neutral by 2050, without fully explaining how, and is hosting the COP28 climate summit later this year. The latest announcement included the formation of an Investment Ministry to be led by Mohamed Hassan Alsuwaidi. He currently serves as the

How Singapore leaped ahead of competitors after the Covid-19 pandemic

The other cities in the study according to rank are New York in fourth, followed by London, Tokyo, Sydney, Johannesburg, Paris and San Francisco

Fire engulfs residential building in UAE's Ajman, no reports of injuries

A fire tore through a high-rise residential building in the United Arab Emirates early Tuesday before being brought under control, according to videos circulating online. There were no immediate reports of injuries from the blaze in Ajman, one of the seven emirates that makes up the UAE, which also includes the futuristic cities of Dubai and Abu Dhabi. The footage showed a corner of the building engulfed in flames reaching from the ground level to the top, with debris falling to the street below. Ajman News, a local media outlet, later reported that the fire had been brought under control. Footage on its Instagram showed the blackened exterior of the building and firefighters on the street below. There was no immediate comment from UAE officials. The UAE has seen a number of similar fires in recent years that have been linked to flammable cladding on many of the country's ubiquitous high-rises. On New Year's Eve in 2015, a blaze raced through an upscale hotel and residential comp

Lulu Group to invest Rs 10,000 cr in India to complete ongoing projects

UAE-based Lulu Group will be investing Rs 10,000 crore in India on various ongoing projects over the next three years and the UAE-based conglomerate has invested over Rs 20,000 crore in the country, Lulu Chairman Yusuff Ali MA said here on Monday. He also said his aim is to provide employment to 50,000 people in India and so far his various enterprises have given over 22,000 jobs. Yusuff Ali also said the Lulu Group has committed about Rs 3,500 crore in investments in Telangana in the next five years in various projects including a Destination Shopping Malls (Rs 3,000 crore) here and also in other cities in the state. "We have got an investment of more than Rs 20,000 crore in different areas including shopping malls, hotels, and food processing units (in India). We will increase this," he said. "We have started the construction of a shopping mall in Ahmedabad. And also another one in Chennai we are coming up. A food processing plant is coming up in Noida and another one in Telangan

FM Sitharaman holds bilateral meetings on sidelines of Paris Summit

Finance Minister Nirmala Sitharaman on Friday held a series of bilateral meetings with her counterparts in France, Brazil and UAE on the sidelines of the Paris summit on the new global financing pact. Sitharaman met France's Minister of Economy, Finance and Industrial and Digital Sovereignty Bruno Le Maire and exchanged views on key G20 deliverables under Indian Presidency, including strengthening MDBs (multilateral development banks) and managing debt vulnerabilities, among other issues. Sitharaman expressed hope that the outcomes of the Paris Summit can provide political momentum to ongoing G20 and other multilateral efforts in the UN, World Bank and CoP28. Sitharaman also met Brazilian Minister of Finance Haddad Fernando and discussed the upcoming G20 India and Finance Track outcomes. "@Haddad_Fernando supported #G20India Presidency efforts and also appreciated the works under #G20India Presidency. FM Smt. @nsitharaman extended India's support to the upcoming #G20Brazil Preside

India, UAE sign pact for AEOs for faster customs clearances, says CBIC

India and UAE on Friday signed Mutual Recognition Arrangement (MRA) for authorised economic operators (AEOs) of both countries, the CBIC said. The AEO programme enables Customs administration to identify safe and compliant exporters and importers and to provide them better facilitation. UnderA, Customs authorities recognise AEOs of both countries, which in turn helps expedite customs clearances. "In pursuance of greater trade facilitation & ease of doing business, India & UAE signed the Mutual Recognition Arrangement for Authorised Economic Operators of both countries today, on sidelines of the 141st/142nd sessions of WCO Customs Co-operation Council meeting, in Brussels," the Central Board of Indirect Taxes and Customs (CBIC) tweeted. Earlier in September 2021, India and the US had signed aA AEO. The Customs authorities of both countries have already evaluated each other's AEO programme and is working to quickly implement the reciprocal arrangement for authorised economic ...

CWC Qualifier Day 4 Report: Scintillating Scotland lit up the tournament

Michael Leask played a blinder as Scotland defeated arch-rivals Ireland by one wicket in a last-ball finish at the Cricket World Cup Qualifier. In a West Asian derby, Oman beat UAE comprehensively

Plan in the works to hand over Karachi port terminals to UAE for funds

Finance Minister Ishaq Dar chaired the meeting of the Cabinet Committee on Inter-Governmental Commercial Transactions

CWC Qualifier Day 2 Report: Hasaranga rattles UAE, Oman upset Ireland

Playing as expected, Lanka breezed past UAE in their first match of the CWC Qualifier. Hasaranga took 6 wickets for the South Asian side. In another game, Oman upset the Irish with a brilliant win

CWC Qualifier Day 2 preview: Sri Lanka take on UAE, Oman challenge Ireland

After a thrilling opening day in group A of the Cricket World Cup qualifier, the focus now shifts to group B as the action moves to Bulawayo from Harare. Sri Lanka take on UAE while Ireland face Oman

CWC Qualifiers group B: Scotland, UAE, Oman challenge IRE for top 3 finish

CWC Qualifiers: Sri Lanka are the hot favourites to go through this group. However, two more spots are remaining from the group and four teams fight for them

UAE participates in seminar on water management policies and tech, in Korea

UAE has participated in a symposium on "Advanced Water Management Policies and Technologies'' in Seoul as part of the works of the Joint UAE-Korea Committee for cooperation in water resources

India's exports to UAE fall by 10.2% to $4.82 bn in April-May: Data

India's exports to the UAE contracted by 10.2 per cent to USD 4.82 billion during April-May this fiscal against USD 5.37 billion in the year-ago period, according to the commerce ministry data released on Monday. India and the UAE have operationalised a comprehensive free trade agreement since May 1 last year. According to the data, imports from the UAE too fell to USD 6.73 billion from USD 9.67 billion in April-May 2021-22. India's exports to the UAE in 2022-23 rose by 11.8 per cent to USD 31.3 billion, while imports from that country grew by 18.8 per cent to USD 53.2 billion in the preceding fiscal due to increased inbound shipments of oil. Exports to the US also declined by about 13 per cent to USD 12.47 billion. Imports from America decreased to USD 6.88 billion during the first two months of this fiscal as against USD 8.33 billion in the same period a year ago, the data showed. However, imports from China have marginally increased to USD 15.75 billion during April-May 2023-2