Sovereign wealth fund ADIA optimistic on equities, private credit after turbulent 2022
Sovereign wealth fund Abu Dhabi Investment Authority (ADIA) said it was optimistic about public equities for 2023 after last year’s market rout, driven by high inflation and rising interest rates, weighed on stocks’ valuations, making them more attractive. The fund was also looking at opportunities in the private credit market, as banks become more cautious […]
Consortium plans to develop $5bln UAE-Oman-India undersea pipeline
South Asia Gas Enterprise (SAGE), a consortium of companies in deepwater pipeline projects, is planning a $5 billion undersea liquefied natural gas (LNG) pipeline from the Gulf to India. The consortium has sought help from India’s Ministry of Petroleum to develop the pipeline, Financial Express reported, citing SAGE director Subodh Kumar Jain. The project’s technical […]
Abu Dhabi: Designer Manish Malhotra to showcase special collection at IIFA Rocks 2023
The International Indian Film Academy and Awards (IIFA) is set to return with its 23rd edition to Yas Island, Abu Dhabi for the second year in a row. IIFA Rocks and IIFA Awards will be held on May 26 and 27, respectively. One of the highlights of IIFA Rocks this year is a special collection […]
India seeks investments from Abu Dhabi’s ADIA, Mubadala
India is seeking investments from Abu Dhabi Investment Authority (ADIA) and Mubadala in several areas, including renewable and digital sectors, said Secretary in India’s Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh. The official was in the UAE and held meetings with the senior officials of the two Abu Dhabi entities, […]
Indian rupee drops against UAE dirham as oil prices firm up
The Indian rupee declined by 10 paise to 82.26 against the US dollar (22.41 versus the UAE dirham) in opening trade on Wednesday due to firm crude oil prices and a stronger greenback. Early gains in Indian stock markets also restricted the rupee’s losses against the dollar. At the Indian interbank foreign exchange market, the […]
Sharaf Group signs strategic deal with India’s Tanishq
India’s Tanishq has signed an MoU with Sharaf Group UAE to extend its highly focused value offering in gold and diamond jewellery and utilise Sharaf Group’s retail expertise to drive its already robust growth story in the GCC. The two entities will kickstart this collaboration with the opening of a Tanishq showroom in […]
UAE-India investor meeting to be held in Srinagar
A UAE-India Investor Meet, comprising meetings between entrepreneurs from various emirates and the Jammu and Kashmir government, business networking and discussions on foreign investment opportunities in the Union Territory, will be held in Srinagar city on 19th March. This was announced by the Department of Industries and Commerce of the Jammu and Kashmir government today. […]
India’s Bank of Baroda to shut down Al Ain branch in March
India’s Bank of Baroda (BoB) will close its Al Ain branch on March 22, 2023, following approval from the Central Bank of the UAE. The commercial decision was taken a year ago, the bank said in a tweet. All accounts are being transferred to BoB’s Abu Dhabi branch to ensure smooth service continuation. The statement […]
Indian rupee declines against UAE dirham, tracks domestic equities
The Indian rupee depreciated four paise to 82.83 against the US dollar (22.57 versus the UAE dirham) in early trade on Wednesday, weighed down by a muted trend in Indian equities. However, fresh foreign fund inflows and a weak American currency against major rivals overseas capped the losses in the rupee, forex traders […]
Abu Dhabi Chamber, India’s FICCI explore new areas of collaboration
M.A Yusuff Ali, Second Vice Chairman of the Abu Dhabi Chamber of Commerce and Industry (ADCCI), reaffirmed the solid relations between the UAE and India, saying, “The UAE and India share a long history of solid relations, which laid the ground for signing the Comprehensive Economic Partnership Agreement (CEPA) last year. One of […]