Page 8 - Uae

India-UAE trade agreement cementing long-standing economic ties: UAE envoy

The comprehensive economic partnership agreement (CEPA) between India and the United Arab Emirates has emerged as a resounding success story, solidifying the long-standing economic ties between the two sides, UAE ambassador Abdulnasser Alshaali said on Wednesday. The envoy said there has been a remarkable growth in bilateral trade between the two countries after inking of the mega trade pact. "The UAE-India CEPA has emerged as a resounding success story, solidifying our nations' long-standing economic ties and ushering in a new era of prosperity," Alshaali said. "Over the past two years, we have witnessed remarkable growth in bilateral trade, a testament to the immense potential that exists when our complementary strengths are harnessed effectively," he said. The ambassador was speaking at an event in Mumbai that was hosted to mark the second anniversary of the coming into force of the CEPA. "The CEPA has not only opened new avenues for businesses to benefit from the bilateral ...

'India, UAE on track to surpass $100 bn non-oil trade target by 2030'

India and UAE trade has increased 15 per cent since the implementation of the free trade agreement in May 2022 and the two countries are on track to surpass the target of USD 100 billion in non-oil trade by 2030, CEPA Council Director Ahmed Aljneibi said on Wednesday. The UAE-India CEPA Council (UICC) was launched on the sidelines of the Vibrant Gujarat Summit in January. The two countries implemented the Comprehensive Economic Partnership Agreement (CEPA) in May 2022. Aljneibi said the UAE-India trading relationship has grown rapidly since the signing of the Comprehensive Economic Partnership Agreement (CEPA). "The bilateral trade has increased almost 15 per cent since the CEPA entered into force on 1 May 2022. Our two countries are on track to far surpass the goal of achieving USD 100 billion in non-oil trade by 2030," he said. Aljneibi was speaking at a business roundtable meet in Jaipur. Rajasthan-based enterprises from diverse sectors, including pharmaceuticals, gems and ...

Dubai rains: Indian Embassy in UAE notifies travel advisory for passengers

Dubai International Airport has temporarily limited the number of inbound flights due to unprecedented weather conditions

Indian mission in Dubai launches helpline for affected in extreme rain

India's consulate here has launched helpline numbers for Indians and stranded passengers affected by unprecedented heavy rains pounded the city and the northern Emirate of the UAE. Heavy rains swept through the United Arab Emirates and surrounding countries on Tuesday, affecting normal life. The tarmac of the busy Dubai International Airport was left submerged, leading to the cancellation of flights. In a post on X, India's consulate mentioned the helpline numbers through which the Indian community can seek help for their issues following extreme weather conditions. According to the consulate, +971501205172, +971569950590, +971507347676, and +971585754213 were available for weather-related emergencies. The Consulate also said it is in touch with UAE authorities and the airlines to facilitate stranded passengers. Regular updates from airlines are being conveyed to travellers, and relief measures have been extended in association with Indian community organisations, the Indian Consu

Dubai gets over a year's worth of rainfall in 24hrs: Here's what happened

Hit by unprecedented rainfall, Dubai International Airport warns people not come to airport unless 'absolutely necessary'

Microsoft to invest $1.5 bn in UAE-based AI firm G42, takes minority stake

G42 had divested its investments in China and began the lengthy task of pulling out Chinese hardware amid US concerns over its relationship with Chinese businesses

Heavy rains: UAE grapples with flood damage, death toll in Oman rises to 18

Heavy rains lashed the United Arab Emirates on Tuesday, flooding out portions of major highways and leaving vehicles abandoned on roadways across Dubai. Meanwhile, the death toll in separate heavy flooding in neighboring Oman rose to 18 with others still missing as the sultanate prepared for the storm. The rains began overnight, leaving massive ponds on streets as whipping winds disrupted flights at Dubai International Airport, the world's busiest for international travel and the home of the long-haul carrier Emirates. Police and emergency personnel drove slowly through the flooded streets, their emergency lights flashing across the darkened morning. Lightning flashed across the sky, occasionally touching the tip of the Burj Khalifa, the world's tallest building. Schools across the UAE, a federation of seven sheikhdoms, largely shut ahead of the storm and government employees were largely working remotely if able. Many workers stayed home as well, though some ventured out, with the

India allows export of 10,000 tonnes of onion to Sri Lanka, eases ban

Directorate General of Foreign Trade says India has approved 79,160 tonnes of onions for export, overriding a ban imposed in December

UAE calls for restraint and to halt escalation in West Asian region

The UAE called for exercising the utmost restraint in order to avoid serious repercussions, and the region being pulled into new levels of instability

Solo travel to countries like UAE, Egypt, Vietnam gaining footing: Report

More and more Indians are looking for solo travelling to countries like the UAE, Egypt, Singapore and Vietnam, a report said on Tuesday. Solo travellers represented about 65 per cent of visa applications for the UAE, 60 per cent for Egypt, 40 per cent for Singapore and 45 per cent for Vietnam, according to a report by online platform for visa applications Atlys. The report is based on visa applications submitted for processing for travelling during summer this year on Atlys platform. Atlys is a mobile visa application app that has e-visa mandate for over 133 countries. When it came to group tours, around 20 per cent of visa applications for such trips were for the UAE, 30 per cent for Egypt, 25 per cent for Singapore, and 20 per cent for Vietnam, it added. The report further found that men dominated the visa application scene, with 77 per cent applying for the UAE, and 71 per cent for Singapore. Meanwhile, 30 per cent of women travellers applied for Singapore visas and 25 per cen

Indian women migrant workers to MENA region to reach 6 million: Report

With women-friendly policies in the UAE, the number of women workers from India to MENA (Middle East and North Africa) countries, especially in the hospitality and construction sectors, are expected to witness a growth of over 71 per cent, blue-collar worker marketplace Huntr's senior executive said. "There has been a 23 per cent growth in demand for women migrants in 2023 in the MENA's hospitality and construction industries compared to the previous year. With more and more women-friendly policies like removal of restrictions during night hours, the demand is likely to surge 71.42 per cent in next 2-3 years," Huntr CEO Samuel Joy told PTI. The report by Huntr is based on a mixed-method combining quantitative surveys with qualitative interviews analysing a sample size of 1,00,000 blue-collar workers enrolled on the platform. Currently, 35 lakh women from India are working in the Middle East, which is expected to reach 60 lakh in next 2-3 years, in line with the growing demand, he ..

PhonePe users can now make UPI payments in UAE via NEOPAY Terminals

Fintech firm PhonePe App users travelling to the UAE can now make payments using UPI at Mashreq's NEOPAY Terminals, the Walmart group digital payments firm said on Thursday. The transactions will be facilitated by the Unified Payments Interface (UPI). The account debit will occur in Indian rupee, showing the currency exchange rate, PhonePe said in a statement. NEOPAY Terminals is available across a wide array of retail stores, dining outlets, as well as tourist and leisure attractions. "With this partnership, customers can now conveniently transact through UPI, a payment method they are familiar with. Enabling digital payments not only reflects PhonePe's commitment to convenience but also embraces the evolving needs of today's travellers," PhonePe CEO for International Payments, Ritesh Pai said. The collaboration is facilitated through Mashreq's partnership with NPCI International Payments Limited (NIPL). Through this partnership, Mashreq has enabled NEOPAY Terminals to accept UPI

Govt allows UAE's Adnoc to export oil from Indian strategic storage

The government has allowed Abu Dhabi National Oil Company (Adnoc) to export crude oil it has stored in underground strategic storages at Mangalore to give operational flexibility to the foreign firm, an order of the Ministry of Commerce and Industry said on Saturday. At present, crude oil, which is the raw material for producing fuels like petrol and diesel, is not allowed to be exported except through the state-owned Indian Oil Corporation (IOC). In an order, the ministry said the condition of export being allowed only through IOC will continue, but "AMI (Adnoc Marketing International (India) RSC Limited India) is exempted from STE conditions and is allowed to re-export crude oil from their commercial stockpile at Mangalore strategic petroleum reserve, at their own cost". India, the world's third-biggest oil importer and consumer, imports over 85 per cent of its oil needs and has built strategic storages at three locations to store up to 5.33 million tonnes of oil as insurance ...

Centre to purchase 1,650 tonnes of onions for exports to Bangladesh

India had imposed an export ban on onions between December 31 to March 31, amid surging domestic prices; however, permitted the export of 64,400 tonnes to UAE and Bangladesh, earlier this month

IPL will be entirely held in India, will make schedule very soon: Jay Shah

BCCI secretary Jay Shah on Saturday dismissed speculation that the league would be shifted to the UAE due to the upcoming general elections in the country between April 19 to June 1. There were endless rumours about the IPL being shifted to the Emirates due to the elections which will be held in seven phases with the reports filling social media about players being asked to deposit their passports with respective franchises. However, Shah set the record straight. "The entire IPL will be held in India. We will be formulating the remaining schedule very soon and announce it," Shah told PTI. The schedule for the first two weeks has been already released with defending champions Chennai Super Kings taking on Royal Challengers Bangalore at home on March 22. In earlier conversations with PTI, BCCI secretary Shah had categorically maintained that the full tournament will be held in India, just like it happened in 2019, the year of previous Lok Sabha election. They were only waiting for t

Cabinet approves inter-governmental agreement between India-UAE on IMEC

The Union Cabinet on Wednesday approved an inter-governmental framework agreement between India and the United Arab Emirates on cooperation for the India-Middle East Europe Economic Corridor. The aim of the inter-governmental framework agreement (IGFA) is to enhance the bilateral ties and further strengthen the relations between the two countries in ports, maritime and logistics sectors, an official statement said. IGFA includes areas of cooperation with the objective of exploring the further potential of future joint investment and collaboration with respect to the development of the India-Middle East Europe Economic Corridor (IMEC). The agreement contains a detailed framework for cooperation between the two countries. The cooperation will be based on a set of mutually agreed-upon principles, guidelines and agreements, consistent with the relevant rules and regulations of the countries' jurisdiction.

Life protection plan for Indian blue-collar workers unveiled in the UAE

India's consulate in Dubai has unveiled a new insurance package for blue-collar Indian workers to provide financial benefits to the kin of the deceased in case of natural and accidental deaths. The Consulate General of India in Dubai facilitated meetings between major companies recruiting Indian blue-collar workers and insurance service providers to arrive at a package which could cover natural and accidental deaths of the workers in the UAE, a press release said on Tuesday. The press release said that the move came after it was "noticed that most companies are insuring their employees under Health Insurance and Workers' Compensation [work-related injuries & deaths]." "However, there is no mandatory insurance coverage for the natural death of employees, and hence the legal heirs/dependents of the deceased do not receive any compensation in cases of natural death," it said. Insurance providers Gargash Insurance Services LLC and Orient Insurance PJSC agreed to issue a Life ...

Nasscom to bring 15 top-tier tech startups delegation to UAE next week

India's National Association of Software and Service Companies (NASSCOM) will bring a delegation of 15 top-tier start-ups to participate in a Pitching and Networking Session for the Start-Ups in the UAE next week. The delegation would participate in the exclusive Pitching and Networking Session for the Start-Ups to be organised by the Consulate General of India in Dubai on March 11 and 12, officials said. The Start-Up delegation comprises sectors such as artificial intelligence, big data and analytics, electrochemistry, materials, and renewable energy, among others. NASSCOM is the apex body for the technology industry in India, an industry that has made a phenomenal contribution to India's GDP, exports, employment, infrastructure, and global visibility. The Elevate Pitching Series aims to provide a platform for Start-Ups to pitch their ideas to investors and business partners based in the Middle East and other countries, officials said.

PhonePe to go global in a couple of months, says CEO Sameer Nigam

The Bengaluru-headquartered company is expected to announce its international plans over the next couple of months

Abu Dhabi's $238 bn International Holding adds AI-powered observer to board

The virtual entity - Aiden Insight - will take an observer seat on the board of IHC, which is the largest listed firm in the United Arab Emirates