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India

US firm says India’s Go First has no rights over engines

Pratt & Whitney has no engines currently available for India’s Go First airline, which also has no rights over them, the counsel for the US firm told a Delaware court as the two companies engaged in a dispute over the supplies. The Indian airline has approached the Delaware court to enforce an arbitration order it […]

Tesla hikes prices

Tesla proposes India factory after refusal to lower tax  

Tesla Inc has proposed setting up a factory in India to build electric cars for domestic sale and export, the carmaker told government officials on Wednesday, according to a source with direct knowledge of the matter. The proposal comes after India refused to agree to Tesla’s request last year to lower the import tax on cars, which can reach as much […]

Reliance Retail Ventures owner Mukesh Ambani has a reputation for disrupting rivals in the price-sensitive Indian market with cheap offers

India’s JioCinema in pricing fight with Netflix and Disney

Indian billionaire Mukesh Ambani’s streaming platform JioCinema announced premium pricing of INR999 ($12) a year, its first step to move away from a free content model to fight global rivals such as Netflix and Disney in the country. The move comes weeks after Reliance’s Viacom18 struck a content deal with Warner Bros, that will make […]

Adani

MSCI removes two Adani companies from indexes

Index provider MSCI said two Adani-group companies will not be eligible for its global indexes, while 86 securities will be added to and 39 deleted from its widely followed MSCI ACWI stock index, as part of its quarterly index review. MSCI said earlier this week it would apply a “special treatment” to Egyptian securities listed […]

Adani Group building

India’s Adani starts $130m buyback of debt securities

India’s Adani Ports and Special Economic Zone, a group company of the beleaguered Adani Group, has started a buyback programme of certain debt securities to partly prepay near-term loans due in 2024. Adani Ports said in an exchange filing that it has floated a tender of up to $130 million in outstanding debt, as it […]

IDBI Bank

No comment from Emirates NBD on bid for Indian bank

Emirates NBD, Dubai’s largest bank, declined to comment to AGBI on Thursday following reports that it is one of at least five potential bidders for a majority stake in India’s state-owned IDBI Bank.  Emirates NBD and its rival First Abu Dhabi are on the lookout for foreign acquisitions as the Gulf state’s domestic banking sector […]

Jordan tourism

Tourists beginning to catch on to more than the wonder of Petra

Given the Hashemite kingdom’s surfeit of historical sites – from the Nabataean city Petra through the natural beauty of Wadi Rum to the Roman towns of Jerash and Gadariyya – Jordan could be forgiven for being blasé about the need to market its tourism attractions more aggressively.  But the authorities in capital Amman are determined […]

Accessories, Formal Wear, Tie

India’s TCS chief to exit amid slowing global tech spending

Tata Consultancy Services CEO Rajesh Gopinathan is resigning in an unexpected move to pursue other interests, adding to worries for India’s largest IT services provider amid slowing tech spending and challenges in its key markets. The company named its president and head of global financial services business K Krithivasan as the CEO-designate, effective March 16, […]

G20 finance chiefs to discuss debt, crypto and inflation

G20 finance ministers and central bank governors will discuss debt troubles in developing economies, cryptocurrencies and global inflationary pressures at a meeting later this week, Indian officials said on Tuesday. The February 22-25 meeting in the Nandi Hills summer retreat near Bengaluru is the first major event of India’s G20 presidency. The meeting straddles the […]

How secret London talks led to Air India’s gigantic plane order

Air India’s record aircraft deal has put the Tata Group-owned airline in the league of aspiring global carriers. On Tuesday it provisionally agreed to acquire almost 500 jets from Airbus and Boeing to take on domestic and international rivals. Striking the largest ever deal by one airline took months of secret talks carried out a […]

Bottle, Perfume, Cosmetics

Gulf fragrance market strikes the right note

Some of the Middle East’s biggest perfume makers, including Chalhoub Group and Ajmal Perfumes, are ramping up global growth plans as traditional Arabic scents gain in popularity abroad.  Luxury brands franchisee and distributor Chalhoub is close to striking deals to export its own fragrance brand, Ghawali, to countries including the UK and France. The first […]

Crowd, Person, Audience

MSCI to change free float status of some Adani securities

Index provider MSCI said on Thursday it had determined that some Adani securities should no longer be designated as free float after market participants raised concerns about the eligibility of the Indian conglomerate’s companies for some of its indexes. Changes for Adani securities associated with its MSCI Global Investable Market Indexes are due to be […]

girl, school, lesson

Investcorp reveals massive expansion plans in India

Bahrain-based Investcorp has vowed to grow the size of its business in India five-fold in the next five years. The alternative investments firm, which managed $50 billion in assets as of December 2022, only entered India in the first quarter of 2019, but has since completed 15 investments worth $1 billion. Speaking from the company’s […]

shop, jewellery

Indians buy homemade jewellery for less in Dubai

Indians are travelling to Dubai to purchase jewellery made in their home country as it costs less in the emirates. Import duties, previously at 5 percent, were waived for jewellery exported from India to the UAE under the Comprehensive Economic Partnership Agreement (Cepa) signed between the two nations last year. “The prices are better,” said […]

People, Person, Human
  • Analysis

Tech and startups will drive future UAE and India trade growth

Growing opportunities in manufacturing, agtech, food processing, healthtech and fintech will support future growth in bilateral trade between the UAE and India. While petroleum products and jewellery remain the most exported goods from India to Dubai as trade is set to touch $88 billion for the current fiscal year, the relationship is changing, with officials […]

Business partnerships between India and the UAE are strengthened by the new deal

New deal gives India and UAE plenty to smile about

As the Comprehensive Economic Partnership Agreement between India and the United Arab Emirates comes into force, AGBI looks at a highly lucrative co-regional relationship Of the many alliances that have sprouted out of the Middle East, the one between India and the United Arab Emirates (UAE) stands out – seemingly weathering all global political and […]