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The government of India has been promoting UPI as a global payment platform. Now merchants in the United Arab Emirates (UAE) are accepting payments via UPI in Rupees to attract Indian customers. One of the biggest retail companies in the UAE, Lulu has started giving customers the option to accept payments through UPI in all its stores in the country. Indian citizens can easily make payments using the UPI app just like in India. The amount paid will be deducted from their bank account in...
Going global: UAE merchants accept Rupee via UPI to attract Indian customers
The Indian central bank has told banks that deal with the United Arab Emirates (UAE) to settle at least a part of their trade payments directly using the rupee and dirham, according to five banking sources. The Reserve Bank of India (RBI) hasn't given banks a specific target but has asked them to report the extent of such payments to it on a regular basis, the sources said. The sources declined to be identified as they are not authorised to speak to the media. The advice go...
India central bank asks banks to push direct rupee-dirham settlement, sources say
The government has allowed the export of an additional 10,000 tonnes of onion to the UAE, through the National Cooperative Exports Ltd (NCEL), as a friendly gesture at a time when the Eid festival is approaching. The order, issued by the Directorate General of Foreign Trade (DGFT) late on Tuesday, will be in addition to the 14,400 tonnes of onion that was earlier permitted for export to the UAE on March 1. This was being done through the NCEL which placed a quantity ceiling of 3,600 metric...
Government allows additional 10,000 tonnes of onion exports to UAE
For years, Indian cricket fans have known that general elections in the country, held every five years, decide the fate of the government. It was in the year 2009 that they first realised that general elections can also impact cricket tournaments. The second edition of the Indian Premier League (2009 IPL) ran into trouble because of the general elections and had to be moved out of India -- played entirely in South Africa in a spectacular manner. Though the Board of Control for Cricket i...
From 2009 to 2024, how LS polls have been a `nightmare`for IPL governing council
India's banks have stopped silver imports after private traders bought large volumes of the precious metal from the United Arab Emirates to benefit from a lower duty, a total of five dealers and industry officials said. India, the world's biggest silver consumer, imposes a 15% import duty on the metal. But the Comprehensive Economic Partnership Agreement, signed between India and the United Arab Emirates (UAE) in 2022, allows private traders to import silver through the India In...
Exclusive-Indian banks halt silver imports as duty differential spurs private trade
Commerce and Industry Minister Piyush Goyal has said that many developed and developing countries including Bangladesh, Sri Lanka, and nations of the Gulf region are keen to start trade in rupee with India as it would help cut transaction costs for businesses. He expressed confidence that the development is going to be a ‘very game-changing’ dimension to India's international trade. He added that gradually countries are realising that undertaking trade in domestic currencies h...
Many developed and developing countries keen to start trade in rupee with India: Piyush Goyal
-India and a trade group of four European nations signed an economic agreement on Sunday aimed at increasing trade and investment, capping nearly 16 years of negotiations. The deal is a binding agreement for the European Free Trade Association - Switzerland, Norway, Iceland and Liechtenstein - to invest $100 billion over 15 years in the fast-growing market of 1.4 billion people, said Piyush Goyal, India's union trade minister. "It is a modern trade agreement, fair, equitable an...
India says Europe trade group commits to $100 billion 15-year deal
The government has allowed the export of 64,400 tonnes of onion to the UAE and Bangladesh through the National Cooperative Exports Ltd (NCEL), according to notifications issued by the Directorate General of Foreign Trade (DGFT). The export of 50,000 tonnes of onion is being allowed for Bangladesh, while another 14,400 tonnes are being permitted for dispatch to the UAE. The notification states that the modalities for the exports to Bangladesh will be worked out by the NCEL in consultatio...
Government allows export of onion to Bangladesh, UAE with riders
Oil India Limited (OIL), India's youngest Maharatna central public sector enterprise, has announced its first-ever global partner roadshow: "Confluence: Where Energy and Opportunity Converge" which is scheduled to take place on 28th February at Abu Dhabi in the UAE. The Ministry of Petroleum and Natural Gas said that the event, which is expected to attract over 50 leading companies from the energy services industry, signals OIL's commitment to aggressive growth and intern...
Oil India Ltd to hold global partner roadshow in UAE
Zydus Lifesciences is currently trading at Rs. 910.90, up by 6.10 points or 0.67% from its previous closing of Rs. 904.80 on the BSE. The scrip opened at Rs. 892.60 and has touched a high and low of Rs. 911.75 and Rs. 892.60 respectively. So far 17555 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 916.60 on 23-Feb-2024 and a 52 week low of Rs. 452.20 on 27-Feb-2023. Last one week high and low of the scrip stood...
Zydus Lifesciences gains on incorporating wholly owned subsidiary in UAE
Adani Enterprises is currently trading at Rs. 3217.75, up by 9.10 points or 0.28% from its previous closing of Rs. 3208.65 on the BSE. The scrip opened at Rs. 3216.45 and has touched a high and low of Rs. 3231.00 and Rs. 3205.80 respectively. So far 51803 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 3275.00 on 07-Feb-2024 and a 52 week low of Rs. 1103.00 on 28-Feb-2023. Last one week high and low of the scrip...
Adani Enterprises rises as its step-down arm incorporates wholly owned subsidiary in UAE
Abu Dhabi Investment Authority (ADIA), the largest sovereign wealth fund in the United Arab Emirates (UAE), is setting up a $4-5 billion fund to invest in India through a tax-neutral finance hub in Prime Minister Narendra Modi's home state of Gujarat, according to two sources with direct knowledge of the matter. The regulatory authority for financial services at Gujarat International Finance Tec-City, or GIFT City, has granted in-principle approval to ADIA to set up the fund, sources s...
Exclusive-UAE wealth fund plans $4-5 billion in investments via India`s new finance hub
ADNOC Gas on Tuesday signed a 10-year agreement to supply 0.5 million metric tons per year of liquefied natural gas (LNG) to India's largest Natural Gas Company, GAIL (India) Limited. ADNOC Gas's parent Abu Dhabi National Oil Company has sharpened its focus on the gas market, seeing it as a transition fuel as the world tries to curb planet-warming emissions, and as competition for LNG has ramped up since Russia's invasion of Ukraine in February 2022. "India continues to...
UAE`s ADNOC Gas signs 10-yr LNG supply agreement with India`s GAIL
Foreign Secretary Vinay Kwatra has said that India and the United Arab Emirates (UAE) have signed a deal to explore the establishment of grid connectivity between the two countries. He said one of the pacts is on renewable energy, which also includes green hydrogen and solar. Kwatra said there is an inherent thought of possible grid connectivity between India and the UAE in that space. He also said other pacts signed are in sectors such as logistics, healthcare innovations and one which in...
India, UAE sign deal to explore establishment of grid connectivity between two countries: Foreign Secretary
Hyundai Motor, South Korea's top carmaker, said on Sunday it will join hands with the United Arab Emirates' sovereign wealth fund as part of efforts to strengthen its presence in the eco-friendly and future mobility market. Under the memorandum of understanding, Hyundai Motor and Mubadala Investment Co. will cooperate in the fields of hydrogen, green aluminum, eco-friendly mobility and advanced air mobility (AAM). The two sides will work together to expand Hyundai's re...
Hyundai Motor joins UAE`s sovereign wealth fund for eco-friendly mobility
Vishnu Chemicals is currently trading at Rs. 325.75, up by 3.85 points or 1.20% from its previous closing of Rs. 321.90 on the BSE. The scrip opened at Rs. 324.05 and has touched a high and low of Rs. 325.80 and Rs. 321.35 respectively. So far 497 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 385.30 on 31-Jul-2023 and a 52 week low of Rs. 245.05 on 06-Mar-2023. Last one week high and low of the scrip stood at ...
Vishnu Chemicals rises on incorporating wholly owned subsidiary in Dubai
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