Prime Minister Narendra Modi met two Kuwaiti nationals who translated and published India's two iconic epics, Mahabharata and Ramayana in Arabic during his two-day visit to Kuwait. Modi, who praised their work, said it highlights the popularity of Indian culture globally. His visit to Kuwait is the first by an Indian prime minister in 43 years.
Lulu Retail announced on Wednesday that its initial public offering (IPO) was oversubscribed 25 times across all tranches, excluding cornerstone investors, generating demand exceeding $37 billion-a record for a private sector IPO in the United Arab Emirates. The company is controlled by Kerala-based business tycoon MA Yusuff Ali. The final offer price for Lulu shares was set at AED 2.04 per share, raising a total of $1.72 billion (AED 6.32 billion), making it the largest IPO in the UAE in 2024 to date.
In the year 2020 to date, these funds deployed capital worth a record $14.8 billion in India, which is nearly three times more than what they have put in China - $4.5 billion.
Marking a key milestone in the Indian government's fight against black money allegedly stashed abroad, India will get this month the complete information on flats, apartments and condominiums owned by Indians in Switzerland as also on earnings made from such properties to help it look into tax liabilities associated with those assets.
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.
Blinken and Indian leaders on Wednesday will discuss a plethora of pressing issues such as the fluid situation in Afghanistan, regional security concerns, COVID-19 response and ways to boost Indo-Pacific engagement, people familiar with the agenda of talks said.
India has got the second set of Swiss bank account details of its nationals and entities under the automatic exchange of information pact with Switzerland, marking a key milestone in the government's fight against black money allegedly stashed abroad.
Despite the recovery to above $40 levels after hitting $28-29 in Jan, worries of over-supply in the face of weak demand remain.
In the previous decade, the government, with Praful Patel as the civil aviation minister, saw the introduction of an irrational 5/20 policy.
The fact that the US dollar has become the world's preferred reserve currency is now the core of global financial crisis, says Mohan Guruswamy.
The announcement of the formation of the BRICS bank will have as much an impact about how the non-G7 countries manage their economies and their foreign reserves, as it does on the intellectual discourse. The development priorities and agenda which was hitherto set by western experts responding mostly to western priorities and notions will now have to compete with an intellectual tradition that is and can be very different, says Mohan Guruswamy.
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