Page 17 - Uae

India likely to discuss crude oil discounts with Iraq and UAE soon

Refiners seek fixed commitment from middle-eastern suppliers akin to Russia

Indian Coast Guard successfully evacuates Chinese national off Mumbai

The Indian Coast Guard on Thursday said it successfully conducted medical evacuation of a Chinese national from a Panama flagged vessel in the Arabian Sea. The rescue operation was carried out on the intervening night of August 16 and 17 amidst challenging weather conditions. "The Indian Coast Guard has successfully conducted medical evacuation of a Chinese national from a Panama flagged research vessel, MV Dong Fang Kan Tan No 2, around 200 km in Arabian sea off Mumbai on the intervening night of August 16-17," the Coast Guard said. The Maritime Rescue Coordination Centre in Mumbai received information that one of the crew, named Yin Weigyang, onboard the research vessel suffered a cardiac attack and required urgent medical attention. The communication was established immediately with the vessel which was en route from China to the United Arab Emirates and provided necessary telemedicine advice. "Considering best feasible options for speedy evacuation and subsequent medical ...

Talks on to set up grid interconnection with Singapore, UAE: Power Minister

Union Power Minister R K Singh on Wednesday said that the discussions are underway to establish grid interconnection with Singapore and United Arab Emirates (UAE) for cross border electricity transmission. The discussions come on the back of India's initiative 'One Sun, One World, One Grid' or global solar grid for transmission of electricity across the globe for mitigating emission challenges. Singh said that India is also working on strengthening its power trade infrastructure with neighbouring countries such as Nepal, Bhutan, Myanmar and Bangladesh. Furthermore, plans are underway to establish infrastructure connectivity with Sri Lanka for power trade. "Discussions are ongoing with Singapore for grid connectivity, and similar discussions are taking place with UAE for grid interconnection," he said. An MoU has been signed between India and Sri Lanka to enhance electric connectivity and promote the use of renewables, especially wind energy. "Nepal is seeking investments from Ind

US freezes fund transfers worth Rs 2.6 crore by Indian diamantaires

The US authorities told banks to hold the nostro accounts of the suppliers' banks, and thus, rough diamond sellers did not receive payments

UK supports UAE, looks forward for strong participation at COP28: Envoy

He spoke about the UK's vision of the importance of COP28 and its role in bringing about a quantum leap in global climate action as one of the main areas of joint cooperation between the two countries

COP28 president UAE, UN body on climate change sign Host Country Agreement

The UAE, which holds the COP28 presidency, and the UNFCCC have signed the Host Country Agreement, strengthening their joint commitment to inclusivity and transparency at the summit to foster solidarity and transformative progress across the climate agenda. The Government of the United Arab Emirates (UAE) will host the 28th Conference of the Parties of the UNFCCC (COP 28), with a view to building on previous successes and paving the way for future ambition to effectively tackle the global challenge of climate change. The Host Country Agreement, signed by COP28 President-Designate Dr Sultan Al Jaber and the United Nations Framework Convention on Climate Change (UNFCCC) Executive Secretary Simon Stiell during a meeting in Abu Dhabi, puts in place the necessary legal basis for this year's UN Climate Summit, said the joint statement issued on the occasion. The statement also said the COP-28 would focus on four areas -- full inclusivity of the COP process, fast-tracking the energy ...

UAE state oil firm moves up its net zero emissions climate target to 2045

A state-run oil giant in the United Arab Emirates said on Monday it has moved up its target for achieving net zero emissions in its operations to 2045, as the country prepares to host UN climate talks later this year. The Abu Dhabi National Oil Company, known as ADNOC, said it is also committed to acheiving zero methane emissions by 2030. Methane is a greenhouse gas that is 80 times more potent than carbon dioxide in the short term. Earlier this year, ADNOC earmarked USD 15 billion for an array of green initiatives, including the development of hydrogen power, carbon capture facilities and the planting of mangroves. The company had previously committed to net zero the balancing of greenhouse gas emissions to the point that the amount removed from the atmosphere is equal to the amount emitted by 2050. The UAE, an OPEC member that produces over 3 million barrels of crude oil a day, will host the global climate talks known as COP28 from November 30 to December 12 in Dubai. It has

Pak Foreign Minister Bhutto to visit UAE today, discuss bilateral ties

During the visit, the foreign minister will hold a meeting with his United Arab Emirates (UAE) counterpart Sheikh Abdullah bin Zayed Al Nahyan, Foreign Office Spokesperson said in a press statement

US imposes new sanctions to cut Russia's access to war supplies, revenue

The US on Thursday imposed sanctions on roughly 120 firms and people from Russia to the United Arab Emirates to Kyrgyzstan in an effort to choke off Moscow's access to products, money and financial channels that support its invasion of Ukraine. The sanctions imposed by the Treasury and State departments target dozens of Russian mining, technology and munitions firms and commercial banks. In addition, a group of Kyrgyzstan-based electronics firms and its leadership were targeted as exporters of components and other technology to Russia. A UAE-based engineering company that sent dozens of shipments of electronics to Russia was also sanctioned. The latest sanctions build on those imposed on Russia when the US and other Group of Seven nations rolled out a wave of global actions during a Japan summit in May. Since Russia launched its full scale invasion of Ukraine, the United States, working with our allies and partners, has taken unprecedented steps to impose costs on Russia and promot

Top headlines: Can Tesla sell a Rs 20L electric car, FTA with UAE, and more

Business Standard brings you the latest headlines at this hour

PM Modi's visit to France, UAE not just 'high on optics': Minister Puri

The BJP on Sunday termed Prime Minister Narendra Modi's recent visits to France and the UAE "successful" and said they were not just "high on optics" but also "high on substantive outcomes". Prime Minister Modi on Saturday returned after "successful" visits to France and the United Arab Emirates. "The prime minister's visits to France and UAE were successful and outcome positive," Union minister Hardeep Singh Puri told reporters at the BJP headquarters here. It has been India flavour and India story in many parts of the world since the prime minister embarked on an official visit to the US, Australia, Egypt, France, the UAE and Japan starting in May, Puri said. "Certainly, all of these visits have very positive outcomes in both bilateral and multilateral arena, he said. "In terms of both the sheer momentum of our exchanges with the outside world and also the kind of events which are planned for the coming weeks leading up to the G20 summit, I think it's India flavour and India sto

PM Modi leaves for India after concluding day-long productive visit to UAE

Prime Minister Narendra Modi on Saturday concluded his day-long "productive" visit to the UAE during which he held bilateral talks with President Sheikh Mohamed bin Zayed al Nahyan. "Concluding a productive UAE visit. Our nations are working together on so many issues aimed at making our planet better. I thank HH Sheikh Mohamed bin Zayed Al Nahyan for the warm hospitality, Modi said on Twitter. The two leaders agreed to start trade settlements in local currencies, link the Fast payment systems of India and the UAE and open IIT-Delhi campus in the Gulf country. The Prime Minister departed for India after a banquet hosted in his honour by the UAE President. A visit defined by transformative outcomes. PM @narendramodi emplanes for New Delhi after wrapping up a successful visit to UAE, Ministry of External Affairs Spokesperson Arindam Bagchi tweeted.

India, UAE agree on trade settlement in local currencies to boost ties

India and the UAE on Saturday agreed to start trade settlement in their currencies and link the Indian Unified Payments Interface with the Gulf country's Instant Payment Platform (IPP) as Prime Minister Narendra Modi held comprehensive talks with UAE President Sheikh Mohamed bin Zayed Al Nahyan here. In his remarks after meeting the UAE President, Modi said India-UAE trade witnessed a 20 per cent increase since the signing of the Comprehensive Economic Partnership Agreement last year. Modi said the agreement signed on Saturday for trade settlement in the currencies of the two countries shows the strong economic cooperation and mutual trust between the two nations. "It is always gladdening to meet HH Sheikh Mohamed bin Zayed Al Nahyan. His energy and vision for development are admirable. We discussed the full range of India-UAE ties including ways to boost cultural and economic ties," Modi said on Twitter after the meeting. The agreement with the UAE on trade settlement in the ...

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