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Jammu and Kashmir Lieutenant Governor Manoj Sinha invited business leaders from the United Arab Emirates to become partner in development and move together towards creating a more prosperous, equitable and vibrant Union Territory. Sinha addressed the India-UAE Investment Summit and interacted with the business delegates from the UAE and across the country at the SKICC here. Highlighting the scope for private and foreign investments in various sectors in J&K, the Lt Governor said the Union Territory has made impressive progress with structural reforms in recent years and growth trajectory makes it an attractive investment destination. "We will ensure the investors receive every kind of assistance, facilitation and support from the administration," he said. Sinha said under the guidance of Prime Minister Narendra Modi, the Union Territory of Jammu and Kashmir has made remarkable progress towards ambitious infrastructure development programme, modernisation and expansion of airports,
The Supreme Court has stayed a Bombay High Court order permitting Suman Vijay Gupta, the chairperson of a Mumbai-based private company, to travel to the UAE after taking note of a case in which she is accused of defrauding State Bank of India of Rs 3,300 crore. Gupta is the chairperson of Ushdev International Limited (UIL). A bench comprising Chief Justice D Y Chandrachud and Justice P S Narasimha on Thursday took note of the submissions of Solicitor General Tushar Mehta that the law enforcement agencies have had a bad experience allowing economic offenders and fraudsters to go abroad on personal undertakings as they seldom honour their undertakings come back to face the proceedings here. "She is the chairperson of a company which took a loan of Rs 3,300 crore. The CBI is investigating (the case). After the loan was declared an NPA (non-performing asset), she renounced the citizenship of India and got the citizenship of Dominica," the top law officer said. A look out circular (LOC)
The RBI and the UAE central bank on Wednesday signed an agreement to enhance cooperation in various areas, including exploring interoperability of Central Bank Digital Currencies (CBDC). Under the MoU (memorandum of understanding), the two central banks will collaborate on various emerging areas of FinTech, especially Central Bank Digital Currencies (CBDCs) and explore interoperability between the CBDCs of CBUAE and RBI, the Indian central bank said in a statement. According to the statement, the CBUAE and RBI will jointly conduct proof-of-concept (PoC) and pilot(s) of the bilateral CBDC bridge to facilitate cross-border transactions of remittances and trade. This bilateral engagement of testing cross-border use cases of CBDCs is expected to reduce costs, increase the efficiency of cross-border transactions and further the economic ties between India and UAE, it added.
The UAE will explore all opportunities of partnership with India to contribute to New Delhi's high-growth-low-carbon pathway, Sultan Al Jaber, the COP28 president-designate, said on Wednesday. He also said the goal of limiting the global temperature increase to 1.5 degrees Celsius above pre-industrial level is "just non-negotiable". Al Jaber said India is on its way to becoming the third largest economy in the world and this makes it one of the largest consumers of energy. As such, India's sustainable development is critical not just for itself but for the whole world. "India's goal of adding 500 gigawatt of clean energy in next seven years is a true and a powerful statement of intent. As one of the largest investors in renewable energy, the UAE and Masdar (renewable energy investing firm) will explore all opportunities of partnership with India to contribute to its high-growth-low-carbon pathway," he said. "Keeping the goal of 1.5 (degrees Celsius) alive is just non-negotiable. An
Prime Minister Narendra Modi on Sunday said the Comprehensive Economic Partnership Agreement (CEPA) with the UAE has given a boost to Indian entrepreneurs and also deepened ties with the Gulf country. India and the United Arab Emirates (UAE) inked a CEPA on February 18 last year to boost trade ties following a virtual summit between Prime Minister Modi and Crown Prince of Abu Dhabi Sheikh Mohammed bin Zayed Al Nahyan. Tagging a tweet by Commerce and Industries Minister Piyush Goyal in which he shared an article jointly written by UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi and him on one year of CEPA, Modi said the CEPA with the UAE has given a boost to Indian entrepreneurs and has also deepened our ties with UAE. The trade pact was signed last year by Commerce Minister Goyal and Economy Minister of the UAE Abdulla bin Touq Al Marri.
A special business event was organised on Friday to celebrate the completion of one year of the signing of the India-UAE Comprehensive Economic Partnership Agreement (CEPA) in Abu Dhabi.Marking a successful year of CEPA signing, a Special Business Event was organised by the Federation of Indian Chambers of Commerce & Industry (FICCI) in association with the Embassy of India, Abu Dhabi, Consulate General of India, Dubai and Dubai Chambers on 17th February 2023 at Dubai, read the press release of the Indian Embassy in Abu Dhabi, UAE.The event was participated in by more than 200 leading businesses from India and the UAE, added the release.India and UAE on February 18th, 2022 signed a historical Comprehensive Economic Partnership Agreement (CEPA).The CEPA was signed during the virtual summit in the presence of Prime Minister Narendra Modi and the President of UAE, Sheikh Mohamed bin Zayed Al Nahyan,Addressing the gathering at the special business event, Dr Thani Al Zeyoudi, UAE ...
The Rajasthan Export Promotion Council (REPC) has signed MoUs with local and overseas industry chambers to promote the Rajasthan International Expo to be held in Jodhpur from March 20-22, an official said. REPC Chairman Rajeev Arora in a statement said that the council is making every effort to ensure that the first edition of the international expo is successful. Recently, REPC has signed several memoranda of understanding with chambers of commerce both domestically and abroad to promote the expo in a big way, Arora said. REPC has signed MoUs with the National US India Chamber of Commerce, the Ural Chamber of Commerce, Russia, as well as the Global Business Federation Middle East, UAE, to promote the expo and ensure maximum participation and facilitate networking among institutions, businesses, and professionals. The council has also entered into memoranda of understanding with prominent business organisations Aaroh (Amazon Web Services) and FORTI, he added. In a statement, Arora
The United Arab Emirates on Thursday named a veteran technocrat who both leads Abu Dhabi's state-run oil company and oversees its renewable energy efforts to be the president of the upcoming United Nations climate negotiations in Dubai, highlighting the balancing act ahead for this crude-producing nation. Authorities nominated Sultan al-Jaber, a trusted confidant of UAE leader Sheikh Mohammed bin Zayed Al Nahyan, who serves as CEO of the Abu Dhabi National Oil Co. That firm pumps some 4 million barrels of crude a day and hopes to expand to 5 million daily. Those revenues fuel the ambitions of this federation of seven sheikhdoms on the Arabian Peninsula as well as the production of more of the heat-trapping carbon dioxide that the UN negotiations hope to limit. But al-Jaber also once led a once-ambitious project to have a USD 22 billion "carbon-neutral city on Abu Dhabi's outskirts an effort later pared back after the global financial crisis that struck the Emirates hard beginning
The United Arab Emirates on Tuesday announced a ban on single-use plastic shopping bags to take effect next year, the latest initiative aimed at reducing pollution in the oil-rich nation. The law would prohibit the import, production and circulation of such bags from January 1, 2024, according to an announcement carried by the state-run WAM news agency. A similar ban would apply to plastic cups, plates and cutlery from January 1, 2026. The UAE, a major oil producer and the host of this year's United Nations climate summit, has declared it aims to achieve carbon neutrality by 2050 a target that remains difficult to assess. Plastic bags are known as one of the most problematic kinds of garbage, polluting streets and waterways and harming birds and marine life. Plastic takes decades to degrade and microscopic particles have been found inside the bodies of fish, birds and other animals. Abu Dhabi, the capital of the UAE, imposed a ban on single-use plastics in June, and the futurist