Dubai Gold and Commodities Exchange, the world's newest commodities exchange and the first such marketplace in the Middle East, started trading this morning.
The government's initiative to migrate SEZ data from NSDL software to ICEGATE system for streamlined reporting of import data caused double counting of gold imports, resulting in inflated figures and the issue has now been largely rectified, government sources said. The downward revision has provided the actual picture of trade deficit (difference between imports and exports), which was earlier looking very high. The deficit for November will now be revised downwards from $37.84 billion to about $32.8 billion. Similarly, there will be a revision in overall import numbers as well.
The Arab Accord -- essentially bilateral agreements with Israel -- does not mention the Israeli-Palestinian conflict.
India became the UAE's largest trading partner in 2009, ousting China from the top position and accounting for nearly 15 per cent of the countrys total commercial exchanges, a new study has revealed.
Emirates Telecommunications Corporation (Etisalat) has made a representation through the UAE government to request the Enforcement Directorate to withdraw a showcause notice over alleged violations of the Foreign Exchange Management Act (FEMA), insofar as it relates to the company and its directors on the board of its Indian joint venture Etisalat-DB Ltd. The UAE (United Arab Emirates) government owns 60 per cent of the Etisalat group.
Those who consider the rupee as a proxy for virility have started thumping their chests and dreaming of dethroning the dollar from its coveted position, observes Tamal Bandyopadhyay.
Two suspects arrested for allegedly plotting terror strikes on ONCG headquarters and two markets in prime areas in Mumbai had received money from a Pakistani national based in Dubai through a UAE financial firm, says the chargesheet filed by Maharashtra Anti-Terrorism Squad (ATS) in a local court.
'The Indian side has realised that not talking to Pakistan has not served any useful purpose.'
Out of 24,230 IIT and NIT grads, about 8,000 students didn't find any takers during campus placement drives this year.
It is well known that Israel would welcome a diplomatic relationship with Pakistan and feelings of a section of the Pakistani military were likewise.
Prime Minister Narendra Modi on Friday met Israeli President Isaac Herzog and underscored India's support for an early and durable resolution of the Israel-Palestine issue through dialogue and diplomacy.
During his visit, first by an Indian prime minister in 34 years, Modi will seek to enhance cooperation in energy and trade and reach out to investors to hardsell India as an attractive business destination.
The Reserve Bank has rejected applications of Flipkart co-founder Sachin Bansal-backed company Chaitanya India Fin Credit Private Limited, and five others for setting up banks as these were "not found" suitable, an official statement said on Tuesday. The RBI in a statement said the examination of six applications has now been completed as per the procedure laid down under the guidelines. "Based on the assessment of the applications, (six) applicants were not found suitable for granting of in-principle approval to set up banks," it said.
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SBI will hold 30 per cent in RIL joint venture
Aravindh Chithamabaram took his tally to 3.5 points out of a possible four.
India's merchandise exports rose by 9.1 per cent to $38.13 billion in May even as the trade deficit widened to a seven-month high of $23.78 billion during the month, according to government data. Healthy growth in sectors, such as engineering, electronics, pharmaceuticals, textiles and plastics helped register growth in exports despite global economic uncertainties.
Terming his discussions as 'fruitful and productive', Modi said the discussions were wide ranging, covering the entire spectrum of the bilateral engagement.
The accused -- Lemos, his wife Valany and Ryan D'Souza -- were convicted on Sunday by the Dubai Misdemeanours Court in the 515 cases filed against them
Abu Dhabi national carrier had bought 24 per cent stake in Jet Airways for $379 million in April.
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.
'As she was dragged off the yacht, the princess cried, "I won't go back to the UAE, just kill me now!"' 'She hasn't been heard of since then.' 'Perhaps she is dead.' 'If so, Modi's government has blood on its hands,' notes Sunanda K Datta-Ray.
Indian Grandmaster D Gukesh scored a crushing victory over Alexander Donchenko in the 10th round of Tata Steel Masters in Wijk Aan Zee, Netherlands on Thursday.
Sri Lanka Cricket on Wednesday informed the Asian Cricket Council that they will not be in a position to host the upcoming edition of the Asia Cup T20 because of the economic and political crisis in the island nation.
Present at the signing ceremony was the Taliban's rarely seen Deputy Prime Minister Mullah Abdul Ghani Baradar, who lost out in a power struggle last year to be prime minister.
'Here is a man who can steer the country out of the woods. That sense of hope towards Modi was already there. And now that he has actually visited this region, it will go to the next level.' Zafar Sareshwala, a close confidant of Prime Minister Narendra Modi, shares his impressions about the PM's historic visit to the United Arab Emirates.
The Enforcement Directorate, which has been investigating the Mahadev app-linked money laundering case for more than a year, alleged in the past that its probe has shown involvement of various high-ranking politicians and bureaucrats from Chhattisgarh, where the two main promoters of the app hail from.
With developments like the Russia-China alliance and the rise of China in the Middle East, India's role has diminished though the India-Israel-US-UAE grouping may assume some importance in the future, observes Ambassador T P Sreenivasan.
The BSE Realty index on Monday soared 4.3 per cent-most among the 19-sectoral sub-indices-buoyed by the proposal to formalise fractional ownership of real estate in the country. The Securities and Exchange Board of India (Sebi) on Friday issued a discussion paper proposing to regulate online platforms offering fractional ownership in real estate, a model already popular in countries such as the United States and UAE.
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Reliance, Birla Group, Airtel eye small finance banks.
The Department of Post, Tech Mahindra, Videocon Group and stock exchange NSE have joined big corporates like Ambanis and Birlas to seek entry into banking business through newly created niche category of Payments and Small Finance Banks.
The Securities and Exchange Board of India's (Sebi's) investigation into the Hindenburg allegations is making slow progress when it comes to obtaining information from overseas regulators, particularly around ultimate beneficial ownerships of certain foreign portfolio investors (FPIs), said people in the know. "Establishing ultimate beneficial ownerships for FPIs is a very complex exercise. "Several jurisdictions allow omnibus structures where the end beneficiaries are not required to be captured or are based in some other geographies.
Contradicting reports have emerged about the ACC suggesting postponing the Asia Cup with India unable to travel.
There will be work today, there will be work tomorrow, there will be work the day after, but nothing will make up for the eternal regret of not seeing a friend when he was dying.
The Securities and Exchange Board of India (Sebi) has for the first time proposed to regulate online platforms offering fractional ownership in real estate, a model already popular in countries like the United States and UAE. In a consultation paper floated recently, the capital markets regulator stated that such fractional ownership of real estate assets was proposed to be brought as MSM (micro, small, medium) REITs under Sebi (Real Estate Investment Trusts) Regulations. This model allows investors to own a fraction or a small share in a real estate asset like buildings and office spaces, which could include warehouses, shopping centres, conference centres.
A healthy growth in India's services segments has helped the country's total exports and imports of goods and services to cross the $800 billion mark during the first half of 2023, despite a slowdown in global demand, think tank GTRI said in a report on Monday. According to the analysis of the Global Trade Research Initiative (GTRI), exports of goods and services rose by 1.5 per cent to $385.4 billion during January-June this year, as against $379.5 billion in January-June 2022. Imports, however, dipped by 5.9 per cent to $415.5 billion during the six months of this year, as against $441.7 billion in January-June 2022.
In a significant win for the Adani group, the Supreme Court on Wednesday refused to transfer the probe into allegations of stock price manipulation by the Indian corporate giant to a special investigation team or the CBI, saying market regulator SEBI was conducting a "comprehensive investigation" and its conduct "inspires confidence".
'Yaar main soch raha hu aapki tarah bas batting shuru kar du, ek haath se chhakke lagaau...'
'Oommen Chandy always had time for his people and valued their voices.' 'There was no rest for him as long as the betterment of his fellow citizens was at stake.' Ambassador Venu Rajamony, who knew the former Kerala chief minister for half a century, salutes a beloved leader who worked tirelessly for the welfare of its people.
Several retired and serving military officers attend Pervez Musharraf's funeral prayers.
Funds parked by Indian individuals and firms in Swiss banks, including through India-based branches and other financial institutions, declined by 11 per cent in 2022 to 3.42 billion Swiss francs (nearly Rs 30,000 crore), annual data from Switzerland's central bank showed on Thursday.
