Vienna, Austria - OPEC Thursday predicted world oil demand to grow by a healthy 2.2 mb/d, to 104.25 mb/d in 2024, raising its 2023 forecast to 2.4 mb/d, following an upward revision of about 0.1 mbn/d from last month's assessment.In its Monthly Oil Market Report, the global organization said the...

Dubai, UAE -- Trade volume between Qatar and India increased by about 33 percent during 2021 and 2022, reaching $17.2 billion, Qatar's undersecretary for Commerce Affairs at the Ministry of Commerce and Industry Saleh bin Majed Al Khulaifi said.He said India is Qatar's second-largest trade partner. Al Khulaifi chaired Qatar's...

Revenue from operations was US$7.2 billion.

Mumbai, India--The UAE’s Minister of State for Public Education and Advanced Technology Sarah Al Amiri has urged the global community to collaborate more closely in the field of research and innovation in order to find solutions to international challenges.Addressing ministers at the G20 Research and Innovation Initiative Gathering (RIIG) Research...

New Delhi, India - Russian academic Sergey Luzyanin has suggested that the United Arab Emirates' Dirham could be considered as a potential currency for India-Russia trade in an interaction between Indian and Russian experts following the Shanghai Cooperation Organisation (SCO) virtual summit organized by India.  The discussion, organized by the Russian...

The country received the fourth largest number of greenfield projects (997), an 84 per cent increase, behind only India (1008), the UK (1230) and the US (2075), according to the UN Investment Report 2023. UAE's impressive numbers led to an increase of the projects in West Asia by two thirds.

The Shanghai Cooperation Organization -- which on Tuesday welcomed Iran as its ninth member -- encompasses a vast stretch of the globe from Moscow to Beijing and includes around half the world's population when observer and "dialogue partner" nations are included. Created in 2001 to discuss security and economic matters,...

Will help to enhance efficiency of overseas operations.

Indian Prime Minister Narendra Modi met Egypt's President Abdel Fattah al-Sisi in Cairo on a rare visit during which both sides pledged to deepen their strategic partnership. They agreed to boost investment by India, the world's most populous nation, in Egypt and which is now in the grips of an...

NEW DELHI, INDIA - UAE Minister of Economy and Head of the Emirates Tourism Council Abdullah bin Touq Al Marri met separately with the ministers of India, UK, Indonesia and Japan on the G20 Tourism Ministers' Meeting in Goa.Bin Touq met with Sandiaga Uno, Minister of Tourism and Creative Economy...

Musk, one of the world's richest men, said that Modi was "pushing us to make significant investments in India, which is something that we intend to do, and are trying to figure out the right timing".

Tehran, Iran-- A free trade zone agreement between Iran and the Eurasian Economic Union (EAEU) will be signed before the end of the year, according to Russia's deputy Prime Minister Alexey Overchuk."Now, indeed, the EAEU has come very close to concluding such an agreement with Iran. This issue was touched...

Muscat, Oman - India and Oman trade in 2022 reached $9.98 billion reflecting the deepening economic and commercial ties between the two nations. The nearly 90 percent growth in trade compared to the previous year highlights the strong demand for Indian goods and services in Oman, coupled with growing investment flows...

Ras Al Khaimah, UAE-- Looking to boost economic cooperation and convince businesses across India to invest in the free zone, Ras Al Khaimah Economic Zone (RAKEZ) toured various cities in the country, offering an overview of the potential of expanding their operation in the Middle East through Ras Al Khaimah....

GENEVA, SWITZERLAND - The world's nuclear powers, and China in particular, increased investment in their arsenals for a third consecutive year in 2022 amid swelling geopolitical tensions, two reports showed Monday.The world's nine nuclear-armed states jointly spent $82.9 billion on their arsenals last year, with the United States accounting for more...

Sharjah, UAE--The Hamriyah Free Zone Authority (HFZA) has signed a deal with Infinite Mining and Energy to set up a multifunctional oil refinery with a daily production capacity of 10,000 barrels and an annual refining capability of up to 3.6 million barrels.In this connection, Saud Salim Al Mazrouei, director of...

The United States and India agreed a roadmap for military industrial cooperation, as New Delhi seeks to reduce its reliance on key arms supplier Russia. "We established an ambitious new roadmap for defense industrial cooperation, which will fast track high priority co-development and co-production projects," US Secretary of Defense Lloyd...

SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) has successfully concluded its trade mission to India after five days of fruitful meetings and discussions with Indian business and industrial associations in New Delhi and Mumbai.The trade mission, organized by the Sharjah Exports Development Center, visited New Delhi...

PARIS, FRANCE - Renewable power capacity is expected to jump by a third this year globally as growing policy momentum, higher fossil fuel prices and energy security concerns drive expansion of solar and wind power, the International Energy Agency (IEA) said.The growth is set to continue next year with the...

DUBAI, UAE -  The UAE is poised to play a pivotal role in global trade with its exports projected to reach around US$544 billion (AED2 trillion) by 2030, showcasing a robust annual growth rate of 5.5 percent. according to a Standard Chartered research study.The report, titled 'Future of Trade: New...

SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) has embarked on a landmark trade mission to India, marking a significant step in strengthening economic ties between the two nations.The trade mission's first leg commenced with the highly successful UAE-India Business Forum held in Mumbai, India's bustling commercial...

SHARJAH, UAE- The Sharjah Chamber of Commerce and Industry (SCCI) will embark on a trade mission to India on Monday to explore investment opportunities and discuss potential areas for cooperation.Organized by the Sharjah Exports Development Centre (SEDC), Abdullah Sultan Al Owais, Chairman of the SCCI, will lead the mission, scheduled...

Speaking at an event in New Delhi, Abdullah bin Touq Al Marri, the UAE’s Minister of Economy, said that the partnership between the UAE and India creates trade and investment opportunities for over 3.8 billion people and the solid economic alliance contributes to the vitality of trade and investment flows...

NEOM, Saudi Arabia - NEOM, the futuristic city being developed in Saudi Arabia, has announced its collaboration with Rajasthan Royals, a prominent T20 cricket team from India, to launch its inaugural cricket program. The pilot initiative aims to promote an active and healthy lifestyle among NEOM's growing workforce, which is...

The Gulf country, according to reports, ranks first in the MENA region and fifth globally in entrepreneurship education and training at university and vocational levels.

SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) announced it will be sending a trade mission to India from May 29 to June 2, 2023.Led by the SCCI's Sharjah Exports Development Center, the initiative aims to bolster economic and trade cooperation, foster mutual investment, and establish promising...

Tehran, Iran - Iran and Russia on Wednesday signed an agreement to construct the final part in the International North–South Transport Corridor (INSTC) that connects Russia to the Gulf and India.The INSTC, a freight network of ship, rail and road routes, covers some 7,200 kilometers (4,475 miles) between Russia, Azerbaijan, Iran...

PARIS, FRANCE -  Russia's oil exports rose in April to the highest level since its invasion of Ukraine, boosting revenues by US$1.7 billion despite Western sanctions, the International Energy Agency said on Tuesday.The Paris-based organization said Russian exports increased by 50,000 barrels per day to 8.3 million bpd last month, estimating that...

Leveraging DMCC’s strong regulatory framework and reputation within Indian business circles, the office will provide a one-stop solution for Indian businesses looking to expand through Dubai and help them establish a presence in DMCC.

DUBAI, UAE -  The Gem and Jewelry Export Promotion Council (GJEPC) has launched a first-of-its-kind India Jewelry Exposition Center (IJEX) here during a special event to commemorate the first anniversary of the UAE-India Comprehensive Economic Partnership Agreement.Announced during the CEPA Beyond Trade celebration, IJEX will provide a platform for India’s...

Speaking at a CII event in New Delhi, Abdulla Bin Damithan, CEO & Managing Director, DP World UAE & Jafza outlined efforts to push non-oil trade between the two countries toward $100 billion over the next five years. JAFZA has been supporting initiatives to boost manufacturing, investments and exports in...

Foxconn blamed the plunge on weakened demand.

Tehran, Iran – Iran’s trade with BRICS member states reached 47.99 million tons worth $38.43 billion in fiscal 2022-23.In fiscal 2022–23, Iran's trade with the BRICS nations—Brazil, Russia, India, China, and South Africa—amounted to 47.99 million tonnes worth $38.43 billion, up 14 percent in value and 0.81 percent in weight,...

The participants are reported to have discussed the broad contours of the massive joint project to build railway, maritime and road connectivity in the larger region.

Banga was the sole nominee for the top job. He will begin his new role on June 2. President Joe Biden said in a statement that Banga "will help steer the institution as it evolves and expands to address global challenges that directly affect its core mission of poverty reduction...

Doha, Qatar -- Qatar's private sector exports hit QR 9.1 billion ($2.49 billion) in the first quarter of 2023, representing a 17.5 percent growth year-on-year (YoY) compared to QR 7.73 billion in Q1 of 2022.According to Qatar Chamber's quarterly report issued Tuesday, exports through the General Model amounted to QR...

Collaborative efforts involving public health professionals, Ministries of Health, and global institutions have been instrumental in the fight against malaria. Challenges such as conflicts, weak health systems, and natural disasters hinder elimination efforts in certain countries, adds Altaf Ahmed Lal of Sun Pharma.

New Delhi, India--India is looking to connect its power grid with Saudi Arabia and the UAE by way of undersea cables, according to Indian media, citing Union Minister for Power and Renewable Energy Raj Kumar Singh. The media reports said that India will sign bilateral agreements with Saudi Arabia and the...

India will overtake China as the world's most populous country in the coming week, hitting almost 1.43 billion people, the United Nations said. "By the end of this month, India's population is expected to reach 1,425,775,850 people, matching and then surpassing the population of mainland China," the UN Department of...

SHARJAH, UAE -  India is among the UAE's most significant investment partners, with substantial mutual investments. Iron and steel rank among the top commodities exported from the UAE to India, the director of Hamriyah Free Zone Authority (HFZA) said.HFZA director made the remarks after the team successfully participated in the...

Nokia's share price was down seven percent at $4.35.

India's population will be 1.4286 billion compared to China's 1.4257 billion at mid-year, the United Nations Population Fund's State of World Population report showed. China's population shrank last year for the first time in more than six decades, official data showed earlier this year.

Dubai, UAE -- The UAE continues to be the second most important export destination for India, according to annual trade figures released by India's Ministry of Commerce and Industry.The US and the UAE retained the first and second places respectively in this category during the financial year 2022-23, the Ministry’s...

Revenue grew 8.8% YoY, but fell 3.2% quarter-on-quarter.

A total of 3049 new companies joined DMCC in 2022.

Moscow, Russia--Russian oil sales to India surged more than twentyfold last year as European buyers turned to other markets following the conflict in Ukraine, Russia's deputy prime minister said Tuesday.Russia shifted its oil exports to India and China last year as European Union nations sought to end their reliance on Russian...

CHENNAI, INDIA - The UAE spoke on food and energy insecurity and their implications in the second Framework Working Group (FWG) meeting within the G20 Finance Track for 2023 held here on March 24 – 25.The meeting was held to discuss the progress made on the 2023 FWG work plan.G20...

New Delhi, India--India's Patent Office rejected on Thursday US pharmaceutical giant Johnson and Johnson’s application to extend its patent on a key  tuberculosis treatment, allowing local companies to make cheaper generic versions.India accounted for nearly 29 percent of 10.6 million tuberculosis cases worldwide, according to the World Health Organization’s (WHO) 2022...

New Delhi, India - The first ever meeting of senior officials of India and the Gulf Cooperation Council (GCC) was held in Riyadh on Monday, the Indian Ministry of External Affairs here announced.India has been steadily stepping up institutional engagement of the GCC in addition to regular bilateral meetings with...

New Delhi, India--Japanese Prime Minister Fumio Kishida arrived in India on Monday for talks expected to focus on deepening trade and technology ties as well as shared concern about China.India and Japan along with the United States and Australia make up the Quad alliance, which positions itself as a bulwark against...