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.
The Gulf Cooperation Council will consider a proposal to define a time-frame ceiling for residency of the workers in member states. The proposal says after the expiry of the six year-contract, the worker will go back home to his original country.
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.
India is vigorously pursuing for a free trade agreement with Gulf countries, Finance Minister P Chidambaram said on Monday.
In a statement, the Ministry of Foreign Affairs expressed its condemnation and denunciation of the statements made by the BJP spokesperson, saying it insulted Prophet Muhammad.
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.
The four million expatriate Indians in the six Gulf Cooperation Council states remit an incredible $5 billion annually, a study shows.
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.
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
In a move which could pave the way for a Free Trade Agreement between India and the Gulf Cooperation Council, both the partners have concluded negotiations for a Framework Agreement expected to be inked soon.
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.
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.
The Financial Action Task Force (FATF) on Friday retained Pakistan on its 'grey list' for failing to check money laundering, leading to terror financing, and asked Islamabad to investigate and prosecute senior leaders and commanders of United Nations-designated terror groups, including Hafiz Saeed and Masood Azhar.
The new sackings and suspensions come days after both the former and current Indian Ambassadors to the UAE cautioned their countrymen about the UAE's strict hate speech laws.
'Modi has visited all these three countries (the UAE more than once, inexplicably) but has left out Kuwait and Oman, the two Gulf countries that are closest to India in their political, cultural and civilisational ethos,' notes Ambassador M K Bhadrakumar.
Swaraj, who met the families for the seventh time since the abduction of the Indians in June last year from Mosul, reassured the families about the well-being of the nationals on the basis of information received from various sources.
'NRI interest has gone up in the past three-four years.'
"The FATF plenary decided continuation of Pakistan in 'Grey List' till its next meeting to be held in October," an official privy to the development told PTI.
The European Commission will propose scrapping tariffs on jet fuel imports starting January 1, an official said on Friday.
A dossier will be given to the FATF, an international terror financing watchdog.
The global agency said there are "serious deficiencies" on the part of the country in checking terror-financing and it lacks an effective system to deal with it.
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.
India has been maintaining that Pakistan extends regular support to terror groups like Lashkar-e-Taiba, Jaish-e-Mohammad and Hizbul Mujahideen, whose prime target is India, and has urged FATF to take action against Islamabad.
The Paris-based global watchdog for curbing terror financing and money laundering will hold its virtual plenary session from October 21 to 23. It will review Pakistan's progress on the 27-point action plan.
The mandates which Pakistan has failed include action against all United Nations-designated terrorists like Jaish-e-Mohammed chief Azhar, Lashker-e-Tayiba founder Hafiz Saeed and the outfit's operational commander Zakiur Rehman Lakhvi.
Cleartrip acquired Saudi travel firm Flyin last July and it provides bilingual ground support service and itineraries for inbound tourists.
The FATF warned Pakistan that if it doesn't complete a full action plan by June, it could lead to consequences on its businesses
Pakistan failed to fulfil six of the 27 mandates so far as a result of which the country continues to be in the grey list of the FATF.
Seeking to wriggle out of the FATF's grey list, Pakistan has imposed tough financial sanctions on 88 banned terror groups and their leaders, including Hafiz Saeed, Masood Azhar and Dawood Ibrahim, by ordering the seizure of all of their properties and freezing of bank accounts, a media report said.
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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.
India's stand at the FATF plenary and other related discussions have always been consistent regarding Pakistan.
In aviation parlance, an 'interline arrangement' is a deal under which the same ticket covers different legs of the journey flown by different airlines.
Dawood Ibrahim is wanted in India to face the law of the land for carrying out serial blasts in Mumbai in 1993 in which scores of people were killed and injured.
The airline will utilise new Airbus A320s, scheduled for delivery this year, to accommodate much of the increased frequencies.
Key economies like India and China are rapidly becoming the biggest trading partners of the Gulf countries as compared to other regions, a new study has said.
With this, multilateral lenders like the International Monetary Fund, the World Bank and the European Union may continue downgrading Pakistan, making its financial situation more precarious.
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