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Debt, trade barriers drag Asian economies in 2024, says World Bank report   Â
BANGKOK, THAILAND – Asian economies are not doing as well as they could and growth in the region is forecast to slow to 4.5 percent this year from 5.1 percent in 2023, Associated Press (AP) quoted a World Bank report as saying on Monday. Debt, trade barriers and policy uncertainties...
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Mubadala invests in Avanse
Avanse is education-focused non-banking financial company. -
India plugs into the Gulf region with power cables
India is poised to revolutionize its energy landscape by linking its power grid with Saudi Arabia and the UAE via undersea cables. -
Shipping service connecting India, South East Asia with Saudi Arabia comes up
RIYADH, SAUDI ARABIA – VASI Shipping Pte Ltd has introduced a new shipping service IMS at King Abdulaziz Port in Dammam, connecting the Kingdom to Southeast Asia and India, Saudi Ports Authority (Mawani) announced. This service aims to enhance its strategic partnerships with major international shipping lines, support the maritime... -
India publishes election donation data after court order
The BJP had received slightly less than 48 percent of all election bonds cashed by parties up to March 2023, amounting to around $730 million. Congress, India's main opposition party, had by contrast received around $171 million in the same timeframe, or 11 percent of the total. -
Thousands of international companies join Dubai Chamber of Commerce in 2023
Dubai, UAE--A study undertaken by Dubai Chamber of Commerce has revealed that Indian investors topped the list of nationalities of new non-UAE businesses joining the chamber last year. A total of 15,481 new Indian-owned companies became members in 2023, representing year-over-year (YoY) growth of 38 percent and underlining Dubai’s continuing... -
Indian troops begin Maldives pullout after quit order
Following talks with New Delhi, the two sides had agreed to complete a withdrawal of 89 Indian troops and their support staff from the nation of 1,192 tiny coral islands by May 10. Mihaaru said the three Indian aircraft - two helicopters and one fixed-wing plane - will be operated... -
Jafza reports 28% year-on-year growth in 2023 of new Indian companies
DUBAI, UAE – Jebel Ali Free Zone (Jafza) is a major contributor to the growing trade between India and the UAE. There's been a significant increase in Indian businesses setting up there, with 28 percent more new companies in 2023 compared to the previous year. This resulted in over 190... -
India, European EFTA bloc sign $100 billion free trade deal
The deal will see the European Free Trade Association (EFTA) -- made up of non-European Union nations, including Iceland and Liechtenstein --Â invest $100 billion over 15 years in India, the world's fifth largest economy, India's Trade Minister Piyush Goyal said. -
Amman Chamber of Industry exports for January-February 2024 reaches $1.3bn
AMMAN, JORDAN - Amman Chamber of Industry (ACI) exports amounted to US$1.3 billion (JD926 million) during the last two months of 2024, compared to US$1.79 billion (JD1.272 billion) for the same period last year. According to statistical data obtained by Petra, exports of five sectors recorded an increase, while the... -
Indian man fighting for Russia against Ukraine killed in action
New Delhi, India - India's embassy in Moscow has confirmed the death of a citizen recruited by the Russian army, days after a relative told AFP he had been sent to fight in Ukraine. Two years after Russia's invasion began, tens of thousands of its soldiers have been killed in Ukraine... -
Reincarnation and realpolitik: Dalai Lama’s succession dilemma
Tibetan activists are keenly aware that his death will mark a major setback in his push for more autonomy for the Himalayan region. It would deprive the cause of a Nobel Prize winner whose moral teachings and idiosyncratic humour have made him one of the world's most popular religious leaders. -
India, US at loggerheads over WTO reform at Abu Dhabi talks
Abu Dhabi, United Arab Emirates -- A US-led push to reform the World Trade Organization's embattled dispute settlement system sparked divisions at a WTO meeting Wednesday, with India accusing Washington of bringing the trade body to a "standstill". A working session on dispute settlement reform was held on the third day... -
WTO approves services trade rules, overcoming objections
The set of rules will streamline authorization requirements and ease procedural hurdles faced by businesses, according to a press release. It will help reduce the costs of global services trade by more than $119 billion every year, it added. -
Goldman Sachs, Mubadala ink pact
The two firms have signed a $1 billion private credit deal. -
Disney and India’s Reliance to merge
The merger will create a powerful entertainment giant. -
New Delhi confirms few Indians involved with Russian army
New Delhi, India - India's foreign ministry confirmed on Friday that some of the country's citizens had signed up for "support jobs" with the Russian army and said it was working with Moscow to secure their discharge. The Hindu newspaper reported on Wednesday that around 18 Indians were stranded in... -
Zoo lion’s Muslim name riles Hindu nationalists
Vishwa Hindu Parishad (VHP), a right-wing Hindu organization, went to court after reports a lioness named Sita had been put together with a lion called Akbar. -
India’s top court strikes down anonymous election funding scheme
Prime Minister Narendra Modi's party has defended electoral bonds, arguing that because the electoral bond donations are channelled through the banking system, the process is more transparent than direct cash donations. Cash donations are still allowed, but carry no tax exemption. -
India PM inaugurates grand temple in Abu Dhabi
According to the UAE authorities, the grand temple carved from pink stone spreads over an area of 55,000 square metres and is the largest traditional stone-built Hindu temple in the Middle East. Nearly 3.5 million Indian nationals, the largest expatriate community in the Gulf country, live in the UAE. -
India says Qatar freed eight ex-navy personnel
"The Government of India welcomes the release of eight Indian nationals working for the Dahra Global company who were detained in Qatar," the foreign ministry said in a statement. "Seven out of the eight of them have returned to India," it added, thanking Qatar's Emir Sheikh Tamim bin Hamad Al... -
Butter chicken battle hits Indian court
Moti Mahal, one of the city's oldest restaurant chains, accuses rival of falsely taking credit for inventing the marinated chicken dish favorite across continents. -
Maldives: Muizzu expands diplomacy beyond India
Muizzu won last year’s presidential election on the "India Out" platform against Ibrahim Mohamed Solih's "India first" policy. -
UAE is the most popular destination for global workers, says report
Dubai, UAE – The United Arab Emirates is the most popular country for international talent seeking employment visas, a report reveals. The global HR platform,Deel, has released findings from its Annual Global Hiring Report and revealed UAE attracts a large number of international talent. This marks a significant milestone... -
Japanese lander disabled again but could restart after two weeks
Tokyo, Japan - After a brief awakening, Japan's Moon lander is out of action again but will resume its mission if it survives the two-week lunar night, the space agency said Thursday. The unmanned Smart Lander for Investigating Moon (SLIM) touched down last month at a wonky angle that left its... -
US to sell drones worth $4bn to India to bolster its defenses against China
The United States approved a $4 billion sale of state-of-the-art drones to India, offering a new edge to the growing US partner. The sale marks a milestone in Indian purchases of American weapons after New Delhi's reliance on weapons from Russia, which have been increasingly controversial due to sanctions over... -
Indian authorities tear down 600 year-old mosque in Delhi
New Delhi, India - Bulldozers have knocked down a centuries-old mosque in India's capital, a member of the building's managing committee said Thursday, during a demolition drive to remove "illegal" structures from a forest reserve. The demolition comes at a sensitive time in India with nationalist activists emboldened in their long... -
Shares in India’s Paytm dive 20%
Banking arm asked to stop accepting fresh deposits. -
Airbus and Tata to build helicopter assembly line in India
Paris, France - Airbus will build a helicopter assembly line in India with Indian conglomerate Tata, the European aircraft manufacturer said Friday. The deal was announced during a two-day visit to India by French President Emmanuel Macron. Airbus said the facility -- which will take two years to set up -- would... -
Indians queue for Israel jobs as war in Gaza rages
India's urban unemployment rate -- the percentage of people wanting work who cannot find a job -- dipped to 5.1 percent in July 2022-June 2023, from 6.6 percent between the same months a year earlier. Over the same period, nearly 22 percent of India's workforce was classified as "casual labour",... -
Zee’s shares fall after merger fails
Disagreement over who would lead the new entity led to merger's failure. -
India’s stock market edges out Hong Kong to become world’s fourth largest
New Delhi, UAE--India's stock market has edged out Hong Kong to become the world's fourth-largest, a milestone that underscores growing global investor optimism about New Delhi's economic prospects, Bloomberg said Tuesday. The total value of shares listed on Indian exchanges hit $4.3 trillion on Monday, slightly higher than Hong Kong's... -
‘New era for India’: Modi inaugurates temple built over razed mosque
"Breaking the shackles of slavery, the country should rise, taking lessons from the past," Modi said, speaking outside the temple to the Hindu deity Ram, built on grounds where a mosque stood for centuries before it was torn down in 1992 by Hindu zealots incited by members of his party. -
Sony ends merger deal with Zee
It pulled out of the US$10bn merger of its Indian operations. -
Tata Group retains IPL sponsorship rights for record $300m
New Delhi, India - Corporate behemoth Tata Group has again been awarded title sponsorship rights of the Indian Premier League for five years, for a record sum of $300 million, the national cricket board said on Saturday. Tata already holds the title sponsorship for the IPL and its sister competition, the... -
Akasa Air orders 150 Boeing planes
Akasa Air will buy 737 MAX planes, which no Indian airline uses. -
Iran, India reach final agreement on Chabahar Port
Tehran, Iran – Iran and India on Monday finalized an agreement for the development of the strategic Chabahar port in Tehran. The accord was reached in a meeting between Iranian Transport and Urban Development Minister Mehrdad Bazrpash and Indian Minister of External Affairs Subrahmanyam Jaishankar. During the meeting, Bazrpash proposed... -
Saudi Scouts Association to participate in Republic Day Camp in India
Riyadh, Saudi Arabia - The Saudi Arabian Boy Scouts Association will participate in the Republic Day Camp (RDC) in India from January 16 to 29. This is part of the events held by India in conjunction with its presidency of the Group of Twenty (G20) under the theme "One Earth,... -
India finds apparent wreckage from 2016 military plane crash
New Delhi, India - India said on Friday it had likely found wreckage from an Indian Air Force transport plane that went missing over the sea almost eight years ago with 29 people aboard. A Russian-built Antonov An-32 was carrying service personnel and six crew members during a routine courier service... -
India flexes maritime muscles by boosting Arabian Sea force
New Delhi, India - Dramatic drone footage showing Indian commandos hunting pirates after an attack in the Arabian Sea illustrates New Delhi's "significant" expansion of a muscular maritime force reflecting global ambitions, analysts say. The commandos, deployed this month from an Indian-built warship after an attempted hijacking of a merchant bulk... -
Infosys lowers revenue forecasts
Its net profit fell 7.29% Y-o-Y in the three months to December. -
DP World signs MoUs in India
The agreements worth US$3bn were signed with Gujarat. -
India’s Russian oil imports fall to 11-month low as price cap rises
Indian refiners bought 1.45 million barrels per day of Russian oil last month, their lowest amount since last January and down nearly 16 percent from November, according to global energy trade intelligence platform Kpler. -
UAE and India sign MoUs to deepen ties in renewable energy, healthcare
Abu Dhabi, UAE--The UAE Ministry of Investment has signed three memorandums of understanding (MoUs) with India, setting out frameworks for the expansion of bilateral investment cooperation in the renewable energy, food processing and healthcare sectors. The agreements were signed by the respective Indian ministries, underscoring the UAE’s strong commitment to... -
Vinfast to build EV factory in India
It is part of the company's planned US$2bn investment. -
India’s solar mission Aditya-L1 enters Sun’s orbit
New Delhi, India - India's solar observation mission on Saturday entered the Sun's orbit after a four-month journey, the latest success for the space exploration ambitions of the world's most populous nation. The Aditya-L1 mission was launched in September and is carrying an array of instruments to measure and observe the... -
FAO says global food prices fell 13.7 percent in 2023
World food prices fell in 2023, with considerable declines for grains and oils as supply concerns eased, the UN's Food and Agriculture Organization said. The FAO's cereals price index fell 15.4 percent last year, "reflecting well supplied global markets" compared to 2022, when prices soared after Russia's invasion of Ukraine,... -
Responding to Arabian Sea vessel hijack, says India navy
According to the navy, it "responded swiftly to a maritime incident in Arabian Sea involving a hijacking attempt" of a Liberian-flagged bulk carrier ship. The incident comes at a time when many vessels have been rerouted from the Red Sea, where Yemen's Houthi rebels have carried out drone and missile... -
Turkey detains 56 high-priority suspects wanted by 18 countries
The detained people were wanted in the United States, Germany, India, and several former Soviet republics as well as other parts of Asia and the Middle East. -
India says Qatar reduced death sentence of 8 navy personnel
Indian media have reported that the eight Indian nationals -- among them former high-ranking and decorated officers, including captains who once commanded warships -- were arrested in Doha in August 2022. -
India targets leading journalists with Pegasus spyware: Amnesty
"Our latest findings show that increasingly, journalists in India face the threat of unlawful surveillance simply for doing their jobs, alongside other tools of repression including imprisonment under draconian laws, smear campaigns, harassment, and intimidation," said Donncha O Cearbhaill, Head of Amnesty International's Security Lab.