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Sheikh Mohamed bin Zayed Al Nahyan and Narendra Modi, the leaders of the UAE and India, press palms at a meeting in New Delhi

UAE and India to sign new investment treaty

Indian Prime Minister Narendra Modi and UAE President Mohammed bin Zayed Al Nahyan are to sign a bilateral investment treaty (Bit) during the former’s visit to the emirate this month. The UAE is India’s third-largest source of foreign direct investment and the seventh-largest trade partner. The Indian government cleared the treaty on February 1, after which the […]

The 14-day visa is currently only available to passengers on Emirates airlines flights from India

Emirates visa on arrival ‘huge’ boost for Indian visitors

Emirates airline has introduced a pre-approved 14-day single-entry visa on arrival for Indian travellers. Industry experts told AGBI the initiative will open up a fresh segment of travellers to Dubai and revive plateauing tourist inflow from India, while also helping Emirates compete against more economical Indian airlines. The service is designed to expedite the entry […]

A doctor consults medical records. Aster employs 1,651 doctors and 3,679 nurses

Dubai mulling ratings for hospital performance, says Aster founder

Dubai is considering the introduction of performance ratings for healthcare providers, Dr Azad Moopen, the founder and chairman of Aster DM Healthcare, has told AGBI. The system would allow operators to adjust their insurance tariffs – the prices that insurers agree to pay for medical services or procedures – based on their classification, providing an […]

Under the UAE's demographic diversity rule, companies must diversify the range of nationalities in their workforce

UAE reverses stance on diversity rule for visas

The UAE Ministry of Human Resources and Emiratisation has reversed its stance on a demographic diversity rule, previously cited by companies as the cause for multiple work visa rejections based on nationality. The policy is still expected to be implemented at a later date. AGBI recently reported that businesses in the UAE were encountering difficulties […]

LuLu Group chairman Yusuff Ali MA India's largest shopping mall

UAE’s LuLu to build India’s largest shopping mall for $483m

The UAE retail conglomerate LuLu Group is to develop India’s largest shopping mall, in Ahmedabad, Gujarat, for an estimated cost of 40 billion rupees ($482.67 million). The construction for the proposed shopping mall will start this year, Asian News International (ANI) news agency reported, quoting comments by Yusuff Ali MA, chairman and managing director of […]

UAE president Sheikh Mohamed bin Zayed Al Nahyan and Indian prime minister Narendra Modi witness the signing of MoUs with DP World

DP World to invest $3bn to develop new ports in India

Dubai’s DP World plans to invest $3 billion to develop new ports, terminals and economic zones in India’s western state of Gujarat over the next three years. The memorandums of understanding (MoUs) include the development of multi-purpose deep-draft ports in south and western coasts of Gujarat; special economic zones in Jamnagar and Kutch; and cargo […]

Sultan Haitham bin Tariq of Oman greets India's prime minister, Narendra Modi, in New Delhi last month

Oman and India accelerate talks on trade deal

Oman and India have scheduled a third round of talks next week as they seek to complete a free trade agreement. The negotiations, which began in late November in New Delhi, are “progressing well” with two rounds completed in a matter of weeks, according to officials. Bilateral trade reached $12.4 billion in the financial year […]

Saudi Aramco employees on site. Indian Oil and Bharat Petroleum plan to import an additional one million bpd each from Saudi Aramco

Indian refiners seek more Saudi oil after price cut

Two Indian state refiners plan to increase crude imports from Saudi Arabia after Saudi Aramco cut the official selling price (OSP) for its flagship crude for February. Indian Oil Corporation (IOC) and Bharat Petroleum Corporation are exploring the option of importing an additional one million barrels of oil each from Saudi Aramco next month, Reuters […]

Hun Manet, the prime minister of Cambodia, arrives in Saudi Arabia for a meeting of southeast Asian nations and the GCC. Cambodia is one of the 34 in the emerging Asia group

Gulf’s pivot to Asia set to keep on rolling in 2024

2023 has been the year of the comprehensive economic partnership agreement, better known as the Cepa, as the UAE seeks to increase non-oil trade to $1.1 trillion (AED4 trillion) by 2031. The Emirates has seven deals in the bag and several more in the pipeline – and like many of its Gulf neighbours, it is […]

A man uses a money transfer shop in Manama, Bahrain. Expat workers in Bahrain sent home $2.7bn in 2022

Mena remittances fall as Egyptians swerve official channels

Remittances to Middle East and North African countries are forecast to fall by 5.3 percent to about $61 billion in 2023. The drop in the World Bank’s figures is driven by a sharp decline in recorded money transfers to Egypt, which is the region’s largest recipient. A “large part of remittances” to Egypt probably went […]

Akasa Air has applied for permission to operate flights to Doha, Qatar, Riyadh and Jeddah in Saudi Arabia, as well as Kuwait

India’s newest airline awaits nod to start GCC flights

Akasa Air, India’s newest airline, is currently awaiting approval from the governments of Saudi Arabia, Qatar and Kuwait to launch operations to the Gulf states, according to a media report. “It’s going to be another few months. We’re hoping another three to four months. But we are a little dependent in terms of permissions we (need […]

Indian composer A.R. Rahman at the Red Sea International Film Festival in Jeddah

No need to fear AI, says Indian music legend

New technologies such as artificial intelligence should be embraced, famed Indian composer A.R. Rahman said at the Red Sea International Film Festival in Jeddah this week.  “It’s not new… human beings are constantly evolving, they will rise up to something that they can do.” AI has become something of a bogeyman in people’s minds, but […]

Although Kuwait and Dubai have taken different routes with their metro plans, the GCC is pushing ahead with rail links between member cities

After stops and starts, GCC rail is back on 2030 timetable

In the same week that Dubai announced a 30km extension of its metro network, Kuwait revealed that its $20 billion four-line metro project is to be cancelled. If anything sums up the difficulties associated with connecting the GCC countries by rail, then it is this. Kuwait’s metro hit the buffers as a result of “significant […]

Egypt wants to deepen cooperation with Asian partners to attract more investors, said finance minister Mohamed Al Al Maait

Egypt and India explore local currency trade settlement

Egypt discussed with India’s ambassador to Egypt the possibility of entering Indian financial markets, Egypt’s finance ministry said in a statement on Tuesday. “The two sides discussed ways to encourage the use of national currencies to settle payments,” in a meeting between Egyptian finance minister Mohamed Al Maait and ambassador Ajit Gupte, the statement said. […]

UAE President Sheikh Mohamed bin Zayed Al Nahyan and Indian Prime Minister Narendra Modi met in Abu Dhabi in July

Indian PM may attend Cop28 meeting in Dubai

Indian Prime Minister Narendra Modi is expected to attend the two-day world climate action summit, beginning December 1, during Cop28 in Dubai, according to an Indian media report. Although the official announcement of Modi’s visit is awaited, the prime minister will most likely attend the summit, Times of India reported, citing sources. Environment minister Bhupender […]

There are now 23 pharmaceutical manufacturing sites in the UAE, up from four in 2010

Work starts on Dubai factory for Indian pharma business

Construction has started on a $54 million factory in Dubai for Indian herbal pharmaceuticals company Himalaya Wellness, as analysts predict more international investment in the UAE healthcare sector. The factory at Dubai Industrial City, supported by financing from Emirates Development Bank, will produce tablets, capsules, liquids and ointments. The Bangalore-based company, founded in 1930, already […]

Shah Rukh Khan’s Jawan collects $16m at UAE box office

Indian actor Shah Rukh Khan’s latest action-packed movie “Jawan” has become the first Indian film to cross the $16 million collection in the Middle East, the movie makers said in a post on social media. The film was produced by Yash Raj Films, a film production and distribution company in India,  The movie, released worldwide on September […]

India’s commerce and industry minister Piyush Goyal said that the review progress on the free trade pact with the UAE has started

India and UAE to expand rupee-dirham trade

India and the UAE are actively exploring opportunities to expand the rupee-dirham trade, resulting in an expected five percent saving on all bilateral trade, India’s commerce and industry minister Piyush Goyal said. The two countries are also working to lower the remittances cost from the UAE to India, the state-owned Press Trust of India news […]

The UAE’s Sheikh Mohamed Bin Zayed Al Nahyan greets Narendra Modi, India’s prime minister, during a visit to New Delhi. Their two governments signed a trade deal last year

India and UAE to discuss investment challenges

Government officials from India and the UAE will hold discussions this week to address challenges impacting bilateral investments and review the trade agreement signed between the two countries last year. India’s commerce and industry minister Piyush Goyal will commence a two-day visit to the UAE on Thursday and co-chair the 11th India-UAE high-level task force […]