In a condolence message sent to the families of the victims of the fire incident in Mangaf, the Emir expressed his sincere sorrow and deep sympathy to the families of the victims and wished a fast recovery to the injured.
Exports of high-quality basmati rice from India grew by 22 per cent to $5.2 billion during April 2023-February 2024, amid robust demand, primarily from West Asia. According to data compiled by the commerce department, exports of basmati rice increased to 4.68 million metric tonnes (MMT) in April-February, from 4.1 MMT during the same period a year ago, registering a growth of 14 per cent.
US President Donald Trump spoke with Saudi Arabia's King Salman amid the Arab world's biggest diplomatic crisis in years over Qatar's alleged support to extremists, reports Lalit K Jha.
Acutely conscious that he's left with less than four years to create his legacy, Trump is undoubtedly a man in a hurry, observes Ambassador M K Bhadrakumar.
'Christians, for example, make up 2 per cent of India's population but an estimated 16 per cent of those who were born in India now reside elsewhere,' said Pew.
India is expected to be the top recipient of remittances in 2023 as inflows increase 12.4 per cent to $125 billion, said a World Bank report on Tuesday. Mexico will come next by receiving $67 billion and China will follow it at $50 billion. The key drivers for remittance growth in 2023 are a tight labour market in the United States, high employment growth in Europe reflecting extensive leveraging of worker retention programs, and a dampening of inflation in high-income countries. India's growth in remittances is expected to halve to 12.4 per cent in 2023 from a historic peak of 24.4 per cent in 2022.
India is pushing for greater disclosures by credit card companies, fintech firms, and payment aggregators (PAs) at the Financial Action Task Force (FATF), so that the sender and recipient in a cross-border financial transaction can be easily identified and the information shared with law enforcement agencies. Separately, the inter-governmental group, which sets standards to curb money laundering, will release the fourth round of its mutual evaluation report on India on September 19. FATF in June had adopted the mutual evaluation report on India and placed the country in the "regular follow-up" category - the highest rating given by the global watchdog and a distinction shared by only four other G20 countries.
Private sector lender ICICI Bank on Monday launched I-Express, an instant cross-border money transfer option for Non-Resident Indians (NRIs).
The Gulf Cooperation Council countries -- Bharain, Kuwait, Oman, Qatar, Saudi Arabia and United Arab Emirates -- present a lot of trade opportunities for India, he said. The Assocham has been promoting India as an investment destination for infrastructure, biotechnology, power, roads, IT and allied sectors. It has also created an Andhra Pradesh Investment Cell to attract investments to the state.
Condemning human rights violations and the excessive use of force by the Yemeni authorities against peaceful protesters in the country's eight-month uprising, the Security Council said all sides should quickly implement a regional plan for an orderly transition of power.
Another priority in the first 100 days could be the launch of an e-platform -- Trade Connect -- to help exporters connect with stakeholders of international trade.
Embattled Yemeni President Ali Abdullah Saleh on Friday rejected a plan for his exit mooted by Gulf states. Plunging his strife-torn nation into a new crisis, Saleh told a pro-regime rally in capital Saana that the exit plan mooted by Gulf Cooperation Council states is "blatant interference in Yemeni affairs". A defiant Saleh said, "We reject any coup against democracy, the constitution and our freedom."
He is also likely to meet his counterparts from key countries like Russia, China and Israel.
Their shared brief: To assert India's case with clarity, rebut hostile narratives, and secure enduring partnerships for global counter-terror cooperation.
A year after a Hamas attack against Israel on October 7 and the ensuing Israeli invasion of the Gaza Strip, India's trade with most West Asian countries has largely escaped any major disruption, except with countries like Israel, Lebanon, and Jordan. However, repeated flare-ups of geopolitical tensions in the region continue to drive up shipping and logistics costs.
India and Qatar on Tuesday agreed to elevate their relationship to a strategic partnership and double bilateral trade to USD 28 billion over the next five years. Prime Minister Narendra Modi and Qatari Amir Sheikh Tamim Bin Hamad Al-Thani signed agreements and MoUs to strengthen economic cooperation, including a revised double taxation avoidance agreement. The strategic partnership will cover the "entire spectrum" of the bilateral relationship, including trade, energy security, and regional and international cooperation. Both leaders also discussed ways to further strengthen and broaden the energy partnership, including "exploring mutual investments." The Amir's visit provided an "excellent opportunity" for the top leadership of the two countries to discuss and "cement a strategic partnership for enhanced future cooperation."
The government allowed qualified foreign investors (QFIs) from six member-countries of the Gulf Cooperation Council (GCC) and 27 countries of the European Commission (EC) to invest in the Indian capital market to enhance foreign capital inflows.
United Nations chief Ban Ki-moon has welcomed the transition of power in Yemen, saying all sides should now honour their commitments to immediately bring to an end all violence and refrain from further provocations.
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Money exchangers and bankers in Muscat said that non-resident Indians have started resorting to personal loans as rupee touched an all-time low of 62.03 against the US dollar on Friday, Times of Oman reported.
According to the latest data revealed by GulfTalent.com, the number of expats employed in the kingdom rose by 2.4 per cent in the fourth quarter of 2009.
'Customers flocked to purchase gold in large numbers during the event.'
India and Bahrain firms have formed a JV to provide solutions for telecom infrastructure.
Kuwait, the world's third largest oil producer, on Wednesday, said it was keen on investing in Indian refineries even as it plans to sell more crude to India.
India is in talks with members of the Gulf Cooperation Council (GCC) to conclude a free trade agreement and a framework agreement for the FTA has already been signed, a leading Indian banker in the region has said.
The United Arab Emirates has floated an initiative aimed at integrating securities markets of all member states of the Gulf Cooperation Council.
The Gulf Cooperation Council (GCC) countries and India are expected conclude a free trade agreement for boosting trade within a year, K K M Kutty, former chairman of industry chamber CII (southern region), has said.
Hyderabad-based pharma company Aurobindo Pharma, which has plans to emerge as a billion dollar company by 2009-10, is enhancing its presence in Europe by investing $100 million in phases. The company is likely to buy two pharma companies worth Euro 10 million each, open offices in 10 countries and establish a packaging, warehouse and manufacturing hub in Malta.
Gulf Cooperation Council member countries will see their gross domestic product grow at 5.2 per cent in 2010 on the back of rising oil revenues, the IMF has said.
Close on the heels of a Free Trade Agreement with Thailand, India is now focusing on signing more such trade deals with member countries of Association of South East Asian Nations, MERCOSUR
Developed countries who practice protectionism should not have high expectations from developing countries to open up their markets in sensitive sectors like agriculture, Union Commerce and Industry Minister Arun Jaitley said on Tuesday.
The money sent home by Indians from West Asian countries took a beating in 2020-21 due to the pandemic. On the other hand, overseas Indians in advanced nations - the United States, United Kingdom and Singapore - emerged as important sources of remittance, according to a Reserve Bank of India (RBI) survey. Indians working in informal sectors in West Asia seem to have been impacted the most due to the lockdowns and subdued crude oil prices as well as slower pace of migration in recent years.
The domestic technology industry's revenue is projected to grow 3.8 per cent to $254 billion this fiscal, industry body Nasscom said on Friday and highlighted creation of 60,000 more jobs during this period. The industry had clocked a revenue of $244.6 billion in the same period last year, according to Nasscom's annual strategic review report. Excluding hardware, the revenue is expected to touch $199 billion, a growth of 3.3 per cent over FY23, as per the report.
Company launches claim guarantee scheme for customers.
Some 90 tonnes of food items such as fruit and vegetables were sent to Doha.
India and the Gulf Cooperation Council are working to finalise the Free Trade Agreement by this year-end, which will give further fillip to bilateral trade ties.
India needs an investment equivalent to 35.1 per cent of its GDP to maintain a growth rate of 9 per cent over the next five years starting this fiscal, commerce and industry minister Kamal Nath said on Tuesday.
Engineering and construction major Larsen & Toubro (L&T) reported a 25 per cent rise in net profit attributable to the owners of the company for the January-March quarter of 2024-25, owing to higher revenues and an exceptional gain. For the quarter under review, L&T posted a consolidated net profit of Rs 5,497.3 crore, while revenue rose 10.9 per cent year-on-year (Y-o-Y) to Rs 74,392.28 crore.
Nikhil Anand, senior vice president, operations, at NLB Services explains why professionals who are adept at data, cloud computing and cybersecurity will earn well in 2024.
'It was tough financially for the first few years but my friends and family supported me and once he did well at the 2018 Commonwealth Games, there was no looking back.'
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