Banking & Finance Oman and India study e-linking some payment services By Pramod Kumar October 5, 2022, 5:15 AM REUTERS/Dado Ruvic RuPay logo is displayed on the smartphone. The Central Bank of Oman has signed a memorandum of understanding (MoU) with India’s flagship payments processor, National Payments Corporation of India, to study the possibility of linking some payment systems between the two countries, according to Oman’s state news agency. The MoU aims at studying the possibility of connecting the unified payments interface and RuPay Card, card payment network, used in India with similar payment systems and services in Oman. The proposed cooperation will further consider the possibility of allowing debit cards issued by Omani banks to be used in India through OmanNet, as well as using the mobile payment system. In September 2022, the number of transactions on India’s UPI platform crossed 6.78 billion amounting to over INR 11.16 trillion ($13.61 billion), the Indian Embassy in Oman said in a statement.
Real Estate Emaar hikes dividend distribution for 2024 Emaar Properties said on Friday that it would double dividend payouts in 2024 over the previous year. The Dubai-listed property developer will disburse AED 8.8 billion (US$ 2.4 billion), or 100 percent of its share capital, up from AED 4.4 billion (US$ 1.2 billion) in 2023, according to a press release. “At Emaar, our priority […] 1 day ago
Energy Former BP boss named on Adnoc’s investment board Bernard Looney, the former CEO of BP, is among the board members of Abu Dhabi National Oil Company’s new lower carbon energy and chemicals investment company, XRG. Formed by Adnoc last month, XRG aims to more than double its $80 billion asset value over the next decade by capitalising on the demand for low-carbon energy […] 1 day ago
Aviation Used private jets soar as Gulf aircraft deliveries stall The Gulf’s second-hand private jet market has enjoyed a surge in popularity due to an influx of wealthy residents and delays in the delivery of new aircraft. “It is hard for [buyers] to get access to assets,” Vincent Rolland, director of JetNet IQ, a US-based market analysis and business aviation consultancy company, told AGBI. Clients […] 1 day ago
Development Syria upheaval could be a sign of progress for the region The removal of the Assad regime in Syria is a “step in the right direction for the region”, according to a leading economist from Standard Chartered. Eric Robertsen, managing director of global head of research and chief strategist at Standard Chartered, was discussing the fallout of a series of geopolitical crises during a media round […] 1 day ago
