The United Arab Emirates (UAE) has expressed intent to invest an additional $25 billion in India, with an ultimate goal of reaching $100 billion in investments, Union Minister Piyush Goyal announced. This comes as both nations plan to enhance cooperation in shipping, ports, energy, and emerging technologies, against a backdrop of expanding bilateral trade.
Modi is the first foreign leader to be invited to the palace by the Crown Prince, who appreciated the role played by Indian workers in the development of UAE as a modern nation, ministry of external affairs spokesperson Raveesh Kumar tweeted.
An independent commission has found Manchester City guilty of serious financial rule breaches over nine seasons, involving "sham" commercial contracts to inflate revenue and understate costs by over 900 million. The club denies wrongdoing and plans to appeal the decision, which could have significant consequences for its past and future achievements in English football.
Abu Dhabi-based sovereign wealth fund Mubadala Investment Co will invest Rs 6,247.5 crore to buy a 1.4 per cent stake in Reliance Industries Ltd's retail arm -- the billionaire Mukesh Ambani-led firm's third such deal in less than two days.
The BRICS summit in New Delhi brings together leaders from major emerging economies to address global challenges like trade disputes, geopolitical upheavals, and the economic impact of conflicts in Ukraine and West Asia. India, as chair, aims to position BRICS as an economic growth engine, focusing on the Global South's food, energy, and supply chain security. The summit also highlights the grouping's expansion and its growing influence in global governance.
Byju's is planning to raise $500-600 million from Abu Dhabi's sovereign wealth funds and existing investors, according to sources, as the start-up world is facing a funding freeze. The educational technology (edtech) giant targets profitability by March next year. "There is no change in Byju's valuation. The new fundraising process is still going on," said a person familiar with the matter. "Any new valuation would be determined in the futureByju's is planning to raise $500-600 million from Abu Dhabi's sovereign wealth funds and existing investors, according to sources, as the start-up world is facing a funding freeze. The educational technology (edtech) giant targets profitability by March next year. "There is no change in Byju's valuation. The new fundraising process is still going on," said a person familiar with the matter. "Any new valuation would be determined in the future as it is very tough for investors to do that in this environment." as it is very tough for investors to do that in this environment."
For India, the goal is not simply to host another grand diplomatic gathering. It is to prove that a diverse coalition of emerging powers can still deliver.
A group of up to eight international investors is mulling a bid for English Premier League club Chelsea, one of the investors has told Reuters.
United Arab Emirates company has bought Premier League club Manchester City, a local magazine reported on Monday. Abu Dhabi United Group for Development and Investment completed the deal late on Sunday, Arabian Business magazine reported, citing board member Sulaiman al-Fahim.
Under the defence partnership, India and the UAE are eyeing defence industrial collaboration and cooperation in advanced technologies, cyberspace training, special operations, interoperability of their militaries and counter terrorism.
With terror and investments high on his agenda for talks with the UAE leadership, Prime Minister Narendra Modi on Sunday began his two-day trip to this strategic Gulf nation with a visit to the historic Sheikh Zayed Grand mosque, the world's third largest.
The sources requested anonymity because the matter is confidential. Representatives for Manchester United and Sheikh Jassim did not immediately respond to requests for comment.
India's major import items from UAE include petroleum and petroleum products, precious metals, stones, gems, jewellery, minerals and chemicals
'Our plan to set up a semiconductor facility in India is back on the table'
Between Kotak, Shapoorji and HDFC, fund managers have raised $700 million from investors
A tweet in Malayalam by Sheikh Mohamed bin Rashid Al Maktoum, vice president and prime minister of the United Arab Emirates and ruler of Dubai, soon after his meeting with Kerala Chief Minister Pinarayi Vijayan in the Emirates, has gone viral on social media as several expatriate Malayalis shared it on their virtual platforms.
'There has been a huge shift. Consumer needs and requirements have changed, and differ from city to city.'
Foreign investment firms, especially private equity, are jittery about the Indian market as uncertainty continues to shroud the energy sector.
Billionaire Mukesh Ambani-run Reliance Industries Ltd's retail arm on Thursday raised Rs 9,555 crore from Public Investment Fund (PIF) of Saudi Arabia, taking total fundraise in the last two months to Rs 47,265 crore. PIF will take a 2.04 per cent stake in Reliance Retail Ventures Ltd (RRVL), the Indian firm said in a statement. The investment values RRVL, the retail arm of Reliance Industries Ltd, at a pre-money equity value of Rs 4.587 lakh crore.
Reliance Industries, construction major L&T and IRB Infrastructure are some of the top companies that have used an infrastructure investment trust structure to reduce part of their debt and generate returns for their investors. Earlier this month, IRB Infrastructure InvIT was listed on the National Stock Exchange, giving its investors an option to exit by selling their units. The listing came within months of the Securities and Exchange Board of India's (Sebi's) guidelines for conversion of private unlisted InvITs into listed ones were issued.
Apart from key bilateral issues, the two leaders also discussed situation in the region, particularly in wake of the increasing threat of terrorism and extremism from various sources including the Islamic State militant group.
As the Tata group inches closer to taking over Air India in January 2022, the $242-billion conglomerate will also inherit a stake in Kerala's Cochin airport. The Tatas would become the only airline to have an operational stake in a major Indian airport. The airport is a strategic hub connecting India to Middle East nations - home to the largest share of Indian migrant workers. In addition to Air India and Air India Express, private carrier Indigo also uses Cochin to ferry the lucrative 'Malayali Gulf traffic' to multiple locations like Jeddah, Riyadh, Sharjah, Dubai, Abu Dhabi, Doha, Kuwait and Bahrain, among others. According to regulatory filings, Air India has a three per cent stake in Cochin International Airport.
Ranked 737 in the Forbes global billionaire list with personal wealth of $2.4 billion, Yusuffali's diversification does not stop here.
Prime Minister Narendra Modi's planned visit to the United Arab Emirates in the first half of next month has been postponed, people familiar with the development said.
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday announced to raise Rs 7,350 crore from two investors -- Singapore's sovereign wealth fund GIC and Global alternative asset firm TPG -- by selling a stake in group's retail arm.
Experts say local demand, government policies in retail and refining sector are attracting foreign players.
A list of all the foreign visits taken up by PM Narendra Modi this year and their outcomes.
A glance back at some of the important ups and down Indian Inc faced in 2018.
