FDI flow into India from Gulf countries surges to $24.54 bn in 12 years

New Delhi, (IANS) FDI flows into India from the Gulf Cooperation Council countries between September 2013 to September 2024 surged to over $24.54 billion, which is an 8-fold increase compared to the corresponding figure of $3.046 billion FDI that came from these countries during the period between April 2000 and September 2013, according to data compiled by the Commerce and Industry Ministry.The figures also show that as much as 89 per cent of the FDI flows into India from the GCC countries came in the last 10 years, reflecting the strengthening economic ties between India and the Gulf region.With Kuwait currently chairing the Gulf Cooperation Council (GCC), Prime Minister Narendra Modi’s visit to the emirate is expected to bolster India's engagement with the influential bloc, comprising Bahrain, Oman, Qatar, Saudi Arabia, the UAE, and Kuwait.PM Modi on Saturday afternoon arrived in Kuwait, becoming the first Indian Prime Minister to visit the Gulf nation in 43 years.He said the Kuwait Investment Authority has invested more than $10 billion in India, reinforcing the financial ties between...

Read More........ → December 26, 2024

India Showcases Footwear and Leather Sector Strength at DIFLEX, 2024, Eyes $350 mn UAE Trade Target

Dubai, India’s leather and footwear industry aims to expand its presence in the UAE market as it makes a strong showing at DIFLEX 2024, with 43 manufacturing exporters participating in the region’s largest leather products and footwear exhibition, currently underway at Festival Arena, Dubai Festival City.Leading the Indian delegation, R. Selvam IAS, Executive Director of the Council of Leather Exports (CLE), announced that trade volume with the UAE has nearly doubled from its previous level of $162 million, with projections to reach $350 million in the coming years. “The growth reflects the sector’s expanding footprint in the Middle East and African markets,” he said.Addressing domestic consumption, Selvam noted that India’s per capita footwear consumption is expected to double from the current 1.9 pairs to 4 pairs per annum by 2030, creating additional demand for 2.2 billion pairs. The country currently consumes 2.5 billion pairs annually, with an anticipated need for an additional 2 billion pairs by 2030.BG Krishnan, Consul (Trade and Commerce) at the Consulate General of India in...

Read More........ → December 12, 2024

Dubai Gears Up for Grand Diwali Celebrations

Dubai is gearing up for Diwali, the Festival of Lights, on October 31, with grand celebrations planned across major venues. Global Village, one of Dubai’s premier cultural destinations, has already begun transforming its grounds for the festival. Skilled artisans are crafting a spectacular 5-8 meter Rangoli installation in front of the main stage, set to be a major highlight during the festivities.In anticipation of festive shoppers, the venue has established a dedicated Festival of Lights Market. Vendors are stocking up on traditional items, including clay diyas, festive decorations, Diwali sweets, and Indian jewelry. Entrance areas like the Happiness Gate and Gate of the World are being adorned with illuminated lamp posts to create a traditional Diwali ambiance.Meanwhile, the historic Al Seef district has come alive with the Noor Festival of Lights. A rich cultural program featuring folk music, poetry recitals, and dance performances drew hundreds from the Indian community. A standout moment of the opening celebrations included a performance by renowned nagada maestro Nathoo Lal...

Read More........ → October 29, 2024

Billion-Dollar Dreams: India-UAE Tech Alliance is Shaping the Future of Innovation

A high-profile delegation from the National Association of Software and Service Companies (NASSCOM) visited the UAE this week and is actively exploring market opportunities, investment prospects, and the legal framework in the UAE, aimed at boosting the Indian technology industry’s footprint in the region. The NASSCOM delegation also attended the two-day AI and Web3 summit at Madinat Jumeirah, Dubai.During a key address at a business event on September 13th in Dubai, the. NASSCOM leadership emphasized the remarkable growth trajectory of India’s tech sector, reflecting on its rise from a modest $15 million in export revenue in 1988 to a staggering $199 billion today. This transformation, driven by human capital and technological innovation, highlights India’s evolution to a leader in global tech development. The Indian tech industry, built on the strength of human resources and bolstered by robust government support, has now become a global powerhouse.The delegation’s visit to the Middle East is timely, as the region is experiencing significant investments in digital infrastructure,...

Read More........ → September 22, 2024

Dubai Company Buys Used Cooking Oil to Turn Into Biofuel for Cars Citywide to Reduce CO2 Emissions

Used cooking oil collection truck and one of the biofuel production plants – Credit: Lootah BiofuelsA Dubai-based company Lootah Biofuels is producing biodiesel from used cooking oil bringing sustainable transportation options to a major oil-producing country. The result is a fuel that is less expensive, renewable, and clean. The United Arab Emirates company now boasts having their own fuel outlets across the city of Dubai, delivering 60 million liters annually. It is the brainchild of Yousif Bin Saeed Al Lootah, who wants the UAE to be the first nation in the region to mandate that biofuels blends be featured alongside other fuel in all public stations. They pay for the used cooking oil collected, thus giving an incentive to providers like restaurants, bakeries, and food chains, which provide 500,000 liters of waste oil every month. The company says it converted the waste oil into 770 tons of biofuel last year. The Lootah Biofuels website reports that used cooking oil has the highest carbon saving ratio amongst all the available biodiesel feedstock—and calculates their product...

Read More........ → March 30, 2024

How Saudi Arabia’s unchallenged 2034 World Cup bid could weaken Fifa’s human rights demands

David McGillivray, University of the West of ScotlandIn 2010, Qatar was awarded the rights to host the 2022 Fifa men’s World Cup. It marked the culmination of the small, oil-rich gulf nation’s long-term strategy to diversify its economy and strengthen its international standing through investment in sport, culture and tourism. However, from the moment the hosting rights were awarded until the event’s conclusion in December 2022, the Qatar World Cup was marred by controversies. These controversies included allegations of bid bribery, violations of human rights, and what has come to be known as “sportswashing” – the strategic use of the positive image associated with sport to divert attention away from the less palatable aspects of a nation’s social and political culture. Qatari officials have consistently denied all allegations of bid bribery levelled at them. However, in 2020, the New York Times released information from a US Department of Justice indictment that revealed details about payments made to five members of Fifa before the 2010 vote of Russia and Qatar as World Cup...

Read More........ → November 09, 2023

Qatar Energy signs 27 years LNG supply deal with Italy’s Eni

Headquarter of the Italian oil and gas company Eni in San Donato Milanese, near Milan. State-owned QatarEnergy has signed an agreement to supply liquified natural gas (LNG) to Italy’s Eni for a period of 27 years, Reuters reports. According to the report, affiliates of QatarEnergy and Eni signed a long-term sale and purchase agreement for up to 1 million tons per year (mtpa) of liquefied natural gas (LNG) from Qatar’s North Field expansion project. LNG will be delivered to the FSRU Italia, a floating storage and regasification unit in Tuscany’s port of Piombino from 2026. Eni has a 3.125 per cent stake in the North Field East expansion that, together with the North Field South expansion, will lift Qatar’s liquefaction capacity to 126 mtpa by 2027 from 77 mtpa.Qatar, already the world’s top LNG exporter, in the last two weeks signed 27-year deals to supply 3.5 mtpa from 2026 to Shell and TotalEnergies, its largest and longest European gas supply deals.Qatar Energy signs 27 years LNG supply deal with Italy’s E...

Read More........ → October 27, 2023

Egypt announces new oil discovery in Gulf of Suez, amid rising energy demands

An aerial view taken on March 27, 2021 from the porthole of a commercial plane shows stranded ships waiting in queue in the Gulf of Suez to cross the Suez Canal at its southern entrance near the Red Sea port city of Suez [MAHMOUD KHALED/AFP via Getty Images]Egypt has made a new oil discovery in the Gulf of Suez region, giving it more energy reserves and drilling opportunities amid rising domestic and foreign demand. According to Egypt’s Petroleum Ministry today, the company, Cheiron, made the new oil discovery in the Geisum and Tawila West Concession in the Gulf of Suez through exploration well GNN-11. It is the fourth well to be completed in the area, with another three wells set to be drilled in order to continue the current exploration phase. The GNN field reportedly holds significant promise, with its total output reaching around 23,000 barrels per day, in comparison to the 4,000 barrels per day prior to the development of the field. Cheiron currently holds a 60 per cent working interest in the concession, with the Kuwait Foreign Petroleum Exploration Company (Kufpec) holding the...

Read More........ → August 23, 2023

Tennis - Saudi Arabia sends first female team to ITF event

A modern tennis racket, with carbon fiber-reinforced polymer frame [wikipedia]Women's sport in Saudi Arabia reached a new milestone this week as the conservative Kingdom sent their first female team to an International Tennis Federation (ITF) event, Reuters reports.The Asia/Oceania pre-qualifying event of Billie Jean King Cup Juniors, hosted this week in Colombo, Sri Lanka, is the first time Saudi Arabia has been represented by a female team at an ITF event."This is an amazing experience, and it is so empowering," Saudi Arabia captain, Areej Farah, told ITF."Taking part in this event is a big step for women's tennis in Saudi, and we are all very proud to represent our country and do our best."Watching doors open for our young Saudi female athletes is just beyond exciting. I feel like I'm living through them, and I honestly thank this team for trusting me and allowing me this opportunity to guide them."Although recent reforms have given women in Saudi Arabia more freedoms, many of their rights remain restricted.Saudi Arabia's women's football team only played their first match in February...

Read More........ → February 27, 2023

Indians advised against travel to Saudi Arabia, Kuwait via UAE

The Embassy of India in Abu Dhabi has advised Indian citizens against travelling to Saudi Arabia and Kuwait via the United Arab Emirates due to "Covid-related restrictions on incoming passengers" imposed in the two countries.Issued on Monday, an embassy advisory advised the Indian nationals to "ascertain the latest Covid related travel guidelines of their final destination country before embarking on an outward journey from India".The citizens were also suggested to carry sufficient "personal provisions and funds to cater to any emergent requirements".The Embassy further advised the Indian nationals who were already in the UAE en route to the two countries, to consider returning home and make their travel plans only when the ongoing restrictions were ease.The advisory comes after the Consulate General of India in Dubai informed the Embassy that several Indians travelling to Saudi Arabia and Kuwait were still stranded in the UAE.Since December 2020, at least 600 Indians, who wanted to travel to Saudi Arabia, have been stranded in the UAE, a Consulate official told Khaleej Times."Due...

Read More........ → February 10, 2021

Iran producing 20% enriched uranium

Iran has resumed enriching uranium to 20 percent purity, in its most significant breach yet of its 2015 deal with world powers to end nuclear sanctions. Iranian government spokesman Ali Rabiei told media the process of enriching uranium to 20 percent had started at Fordo. President Hassan Rouhani had ordered the move because he was "bound" by a new law requiring the production and storage of at least 120kg (265lbs) of 20 percent-enriched uranium annually for peaceful purposes, he said.Iran's parliament passed the law following the assassination in late November of the country's top nuclear scientist, Mohsen Fakhrizadeh, which Iranian leaders blamed on Israel.Later on Monday, the International Atomic Energy Agency (IAEA) confirmed Iran's move in a report to member states."Iran today began feeding uranium already enriched up to 4.1 percent U-235 into six centrifuge cascades at the Fordo Fuel Enrichment Plant for further enrichment up to 20 percent," a statement said. Enriched uranium can be used to make reactor fuel but also nuclear bombs. Weapons-grade uranium is 90 percent...

Read More........ → January 05, 2021

Indian expat in UAE bags Guinness World Record with 8.2 sq mt giant pop-up greeting card

JAN 02, 2021 DUBAI: An Indian expatriate in the UAE has entered the Guinness World Records for the 19th time, after he unveiled a 8.2 square metre giant pop-up greeting card, commemorating the 15th Accession Day of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, according to a media report on Saturday. Ramkumar Sarangapani, a Dubai resident, now holds the most number of world records by an individual in the UAE and India, the Gulf News reported. Sarangapani''s pop up greetings card is 100 times larger than the regular pop-up cards. Inside, it has a collage of Sheikh Mohammed''s paintings created by Dubai-based artist Akbar Saheb, the newspaper said. While the pop-up card dedicated to Sheikh Mohammed has a closed surface area of 8.20 square metres, the previous record, which was set in Hong Kong, was of 6.729 square metres. Sarangapani''s card has dimensions of 4 metres in length and 2.05 metres in width. The card''s outer cover is the winning bid of Expo 2020, the daily reported. Speaking to Gulf News, Sarangapani...

Read More........ → January 03, 2021

India, UAE witness soaring relations in 2020

DEC 26, 2020 DUBAI: The traditionally harmonious relationship between the UAE and India was further cemented in the year 2020 with their top leadership holding regular parleys to enhance cooperation on bilateral, regional and multilateral fronts in the post-COVID era, including the welfare of the vast Indian community in the Gulf kingdom. The growing strategic relations between the two countries were reflected in two high-level visits from India - External Affairs Minister S Jaishankar in November and Chief of Army Staff Gen. M M Naravane in December. Jaishankar met the UAE's top leadership, focussing on enhancing cooperation on various facets of their comprehensive strategic partnership including trade, investment, infrastructure, energy, food security and defence. He held high-level meetings with Crown Prince of Abu Dhabi Sheikh Mohamed bin Zayed Al Nahyan and Ruler of Dubai who is also the Prime Minister and Vice President of UAE Sheikh Mohamed bin Rashid Al Maktoum. The two sides also discussed prospects for economic cooperation between India and the UAE in the post-COVID-19 era...

Read More........ → December 28, 2020

Army chief Gen. Naravane holds talks with UAE’s Land Forces Commander on defence cooperation

DUBAI: Chief of Army Staff Gen. MM Naravane has met Commander of the UAE's Land Forces and Staff Major General Saleh Mohammed Saleh Al Ameri and discussed key issues of mutual interest and defence cooperation, the Indian Army said on Friday. Gen. Naravane is currently on a six-day tour of the United Arab Emirates (UAE) and Saudi Arabia, in a first-ever visit by a head of the Indian Army to the two strategically important Gulf countries. According to the Indian Army, Gen. Naravane on Wednesday received a Guard of Honour at the headquarters of the UAE's Land Forces and laid a wreath at the Martyr's Point. "#COAS also interacted with Major General Saleh Mohammed Saleh Al Ameri, Commander #LandForces & Staff and discussed issues of mutual interest & defence cooperation," the Indian Army's Additional Directorate General of Public Information said in a tweet on Friday. It said that Gen. Naravane also visited the Land Forces Institute, Infantry School and Armour School on Thursday. The Army chief's visit to the UAE aims to further strengthen bilateral defence cooperation, it added....

Read More........ → December 16, 2020

Kuwait's emir appoints new PM

Kuwait City, Dec 8 (IANS): Kuwait's Emir Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah on Tuesday appointed Sheikh Sabah Khaled Al-Hamad Al-Sabah as the Kingdom's new Prime Minister, state media reported.The emir also assigned him to form a government and provide a list of names for approval, Xinhua news agency quoted the state media report as saying.During a meeting with the emir at Bayan Palace, Sheikh Sabah Khaled Al-Hamad Al-Sabah expressed gratitude for the appointment, reiterating commitment to the constitution and laws to serve the best interests of the country and citizens. Source:https://www.daijiworld.co...

Read More........ → December 09, 2020

Kuwait’s emir accepts govt resignation

The Kuwaiti Emir Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah on Sunday accepted the resignation of the government submitted by the prime minister, reports the Kuwait News Agency (KUNA).The emir ordered the cabinet to serve as caretaker until a new government would be formed, KUNA said.Kuwait’s Prime Minister Sheikh Sabah Khaled Al-Hamad Al-Sabah has submitted the resignation of his government to the emir in a routine procedure after parliamentary elections.Kuwait on Saturday held parliamentary elections with 326 candidates running for 50 seats. The voting process started at 8 am local time and proceeded until 8 pm.According to KUNA, the electoral committee has announced on Sunday winners of 2020 parliamentary elections in five electoral districts in the country.An Amiri Decree was also issued on Sunday, calling on the newly elected National Assembly (parliament) to hold the first regular session of the 16th legislative term on December 15. https://www.daily-bangladesh.co...

Read More........ → December 08, 2020

Iran’s Army Ground Forces unveils military robot

‘Caracal’ robotic vehicleIran’s Army Ground Forces unveiled a military robot built with its indigenous and high-tech gears. The robotic vehicle is said to be capable of carrying heavy weapons and military equipment.The program was attended by the force’s Commander Brigadier General Kioumars Heydari, and Commander of the Islamic Republic of Iran Army Aviation, Second Brigadier General Yousef Qorbani.The robot is named after ‘Caracal’ a type of Iranian wild cat. This robotic vehicle can travel at a speed of 30 kilometers per hour and has an operating range that exceeds 500 meters.The ‘Caracal’ robotic vehicle is equipped with an independent suspension system, smart remote control mechanism, laser rangefinder, and an optical system.The event also inaugurated new weapons and equipment, including the Gohar (Gem) 4WD vehicle which is empowered to carry as much as 500 kilograms off-road, and travel as far as 700 kilometers at a maximum speed of 120 kilometers per hour Source: https://www.daily-bangladesh.co...

Read More........ → September 30, 2020

UAE initiates first nuclear power plant in Arab world

Barakah Nuclear Power Plant; Photo: AFP The United Arab Emirates made another startling announcement after sending a spacecraft to Mars. The oil-rich country has announced the launch of a nuclear power plant as the first country in the Arab world. UAE authorities on Saturday officially announced the launch of their Barakah Nuclear Power Plant, according to AFP. Hamad al-Kaabi, a representative of the International Atomic Energy Agency in the country, also confirmed the matter. The first reactor of the Barakah nuclear power plant in the United Arab Emirates has been successfully launched with great care. It is a historic milestone in the search for new energy sources for the country. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and ruler of Dubai, said on Twitter that the first reactor at the Barakah Nuclear Power Plant had been “successfully loaded with fuel” and that its experimental activities completed. Earlier last month, the United Arab Emirates was the first country in the Muslim world to send a spacecraft...

Read More........ → August 04, 2020

Indian consulate in Dubai to remain open on weekends, public holidays

Dubai: Starting August 1, the Consulate General of India in Dubai will remain open on weekends and public holidays, Consul-General Aman Puri said. Puri officially took charge of the Consulate on Sunday, and given the current circumstances owing to the COVID-19 pandemic, services will remain open all days of the week, including weekends and public holidays. "Starting August 1 to December 31, the consulate will remain open from 8 a.m. to 10 a.m. on holidays. Unlike an open house, consular services will be made available for those in need of emergency requirements such as passport renewal for emergency travel, etc," he told the Khaleej Times. He said the decision was also subject to review, depending on the situation. "We feel that the coming days are going to be tough and people may need our support. However, this is not something new. Our colleagues at posts and missions (Indian) have always come forward in support of distressed Indians. Given our community here in Dubai is large, the needs here are large as well." Puri said it remains his priority to continue to...

Read More........ → July 23, 2020

Qatar Rails Doha Metro project wins the CIHT International Award 2020

QNA/Doha: Qatar Rail was recognized internationally on Saturday after the Doha Metro received the Chartered Institute of Highways & Transportation (CIHT) International Award 2020, which recognises outstanding examples of highways and transportation infrastructure or services from outside the UK and Ireland. The company said the project won after being shortlisted alongside mega projects in USA, Africa, Asia, the Balkans. The established and long running CIHT awards opened their doors to international projects for the first time last year making Qatar Rails Doha Metro the first project in the region to win this prestigious award. A panel of impartial expert judges with a diversity of experience and opinion recognised Doha Metros outstanding achievement by looking for excellence from the start of the project through to implementation and execution. In particular judged valued the State of Qatar clearly articulated vision for an integrated transport network and Qatar Rails well thought out planning and design, effective engagement and communication with stakeholders and successful...

Read More........ → July 18, 2020