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.
Hospital chain Aster DM Healthcare's plans to sell its Gulf business may run into rough weather with voting advisory firm Institutional Investor Advisory Services (IiAS) raising concerns over the transaction. Recommending an 'against' vote on the resolution, IiAS has said there is no clarity on how Aster DM will utilise the proceeds that it will obtain by selling the unit, which contributes to bulk of its revenues. In November, Aster DM had announced its plans to sell its wholly-owned subsidiary Affinity Holdings, which conducts business in the Gulf Cooperation Council (GCC) region, to Alpha GCC for $1 billion.
FMCG major Britannia Industries' results for the January-March quarter (Q4) of the financial year 2023-24 (FY24) were received enthusiastically by the market with the share going up by 6.7 per cent on Monday to close at Rs 5,061.60 on the BSE. However, analysts said the results were in line with margins, and disappointing in terms of revenue growth. The consolidated net sales (excluding other operating income) rose 3 per cent year-on-year (Y-o-Y) to Rs 4,010 crore in Q4.
Some of these nations are India's biggest export market. India is also dependent on these countries to meet its energy needs.
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.
'Now that we are a pure-play India business, many investors are open to investing.'
Wipro Consumer Care and Lighting on Thursday announced the acquisition of Brahmins - a Kerala-based traditional vegetarian, spice mix and ready-to-cook brand - and it has also drawn up plans to launch its snacks brand targeting the southern market. The company will focus on the southern market and is in the process of launching its own brand in the fast-growing ready-to-eat and snacks segment, Wipro Consumer Care and Lighting and managing director Vineet Agrawal told PTI. He further said Wipro Consumer Care and Lighting would take the acquisition route for expanding in the spices segment.
Investments from the Gulf Cooperation Council (GCC) countries to India remain negligible relative to trade flows and represent just a small percentage of total FDI from the region to the world, says a report.
Pakistan was put in the inglorious list in 2018 for its failure to check risk of money laundering, leading to corruption and terror financing.
'We have not seen too many large deals compared to last quarter.'
Bharathi Sihag, joint secretary at the ministry of commerce of India, told Abu Dhabi's National newspaper that the date had almost been set: "We will be meeting very soon, next month or October." The FTA between India and Gulf Cooperation Council has been delayed, ever since the first round held in March 2006, due to administrative reasons as the same set of officials are involved in talks with EU and Korea over similar trade pacts.
Biden said that the Saudi Crown Prince told him he was not "personally responsible" for Khashoggi's murder.
They all spoke of their disappointment at the decisions, given the historic moment of it being held in the Middle East.
The proposed India-Israel trade pact should be beneficial to both nations and until New Delhi gets a good deal, it would not do an agreement, Commerce and Industry Minister Piyush Goyal said. India and Israel are negotiating a free trade agreement (FTA) since May 2010. "With Israel, until we get a good deal, we will not do an FTA. It has to be reciprocally beneficial," the minister said in San Francisco on Tuesday while interacting with the Indian community.
Of $90 billion remittances that India is expected to receive in 2022, only $27.4 billion has come in the first half of the year.
The Gulf Cooperation Council (GCC) countries have 10 Indian billionaires.
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.
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.
GCC consists of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates.
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.
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.
Private sector lender ICICI Bank on Monday launched I-Express, an instant cross-border money transfer option for Non-Resident Indians (NRIs).
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 Gulf Cooperation Council and the Association of Southeast Asian Nations have decided to enhance cooperation in the economic, commercial, investment, educational, cultural and media fields.
During the discussions attended by Simon Williams, Chief Economist at HSBC, Chirag Shah, Head of Strategy and Corporate Planning at DIFC Authority, and Yousef Bazian, Head of Corporate Finance at PwC in the Middle East, a consensus emerged that the Gulf region has achieved considerable non-oil economic growth.
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."
A survey by the Arabian Business weekly magazine shows that Landmark boss, Mr Micky Jagtiani, now has close to $1.5 billion more than his nearest rival in the wealth stakes, New Medical Centre Group boss, B R Shetty, who was second with a $1.72 billion fortune.
Qatar will lead growth in the region with around 8.7 per cent, while growth will be about six per cent each in Saudi Arabia and Kuwait, 4.5 per cent in the United Arab Emirates, 4.2 per cent in Oman and 3.1 per cent in Bahrain, the report by Kuwait-based Gulf Investment Company said.
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.
Pakistan has been on the grey list of the Paris-based Financial Action Task Force since June 2018 for failing to check money laundering, leading to terror financing, and was given a plan of action to complete it by October 2019.
The United Arab Emirates has floated an initiative aimed at integrating securities markets of all member states of the Gulf Cooperation Council.
The unemployment rate in the GCC reached 8.8 per cent in 2009 and is expected to increase to 10.5 per cent this year, said the report titled 'GCC Unemployment: Sustainable Economies'.
Software major Wipro has tied up with Sun Microsystems to widen its reach within the Gulf Cooperation Council countries such as UAE and Saudi Arabia.As part of the deal, Wipro would resell and integrate the entire suite of Sun systems, storage, software, and services to serve Sun's customers in the UAE, Saudi Arabia, Bahrain, Oman and Qatar.
India and Bahrain firms have formed a JV to provide solutions for telecom infrastructure.
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.
The countries with positive employment outlook included India, Mexico and Turkey, as also the Gulf Cooperation Council region.
Gulf nations have postponed the six-year residency cap on foreign unskilled workers.
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.
Pakistan will remain on the 'grey list' of the Financial Action Task Force (FATF) until it further demonstrates that action is being taken against Jamaat-ud-Dawah chief Hafiz Saeed and Jaish-e-Mohammed founder Masood Azhar who are listed as global terrorists by the United Nations, the global anti-money laundering and terror financing watchdog said on Thursday.
Some 90 tonnes of food items such as fruit and vegetables were sent to Doha.
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