Uae News

Oman just dropped a bombshell, it is becoming the first Gulf country to tax personal income. What does this mean for expats, especially for Indians working there? Here's the full story behind the tax that’s shaking up the Gulf.

Shortly after his inauguration, US President Donald Trump introduced Stargate, a mega $100 billion joint venture between OpenAI, Oracle and Softbank to bolster AI infrastructure in America. But even as locations for these data centre campuses under this project in America are still being worked out, the project has already gone international. The Stargate UAE project is part of a deal brokered last week by Trump to build the world's largest set of AI data centres outside the US... and this, will be in Abu Dhabi. In fact, the first phase of the massive new computer infra centre is likely to even come online next year... with 1 lakh NVIDIA chips. Essentially, this unprecedented platform will enable every UAE government agency and commercial institution to connect their data to the world's most advanced AI models. Here's everything you need to know about it!

As President Trump embarks on a visit to Saudi Arabia, Qatar, and the UAE, urgent regional concerns regarding Israel and Iran loom large. This trip, focused on economic interests and business deals, may overlook critical diplomatic discussions in a volatile geopolitical landscape.

Arrack refers to a diverse group of distilled alcoholic beverages commonly produced in Sri Lanka, India, and some parts of Southeast Asia. The Sri Lankans distill it exclusively with sap or toddy of the coconut flower. But across the Palk Strait, in Kerala, Tamil Nadu, and Karnataka, arrack is largely made from sugarcane, jaggery, grains such as red rice, and fruits. – Kerala, especially, had a fondness for arrack until it was banned in 1996 by then chief minister A K Anthony, after several cases of tipplers losing their eyesight and lives after imbibing spurious liquor. Despite the ban, the common man’s tipple is still distilled in several parts of the state. Over the last couple of years, a clutch of companies have been tapping into the Malayali diaspora’s collective nostalgia for country liquor by distilling it abroad. In fact, it's now being bolstered by crores of rupees of angel investments! Watch

Heavy Rain In Dubai: Heavy rains lashed Dubai late on Monday night and continued on Tuesday, April 16, submerging its major highways and international airport. The heavy rainfall prompted the UAE government to issue warnings urging employees to work from home and only leave ‘in cases of extreme necessity.’ Several videos of the torrential rainfall went viral on social media.

UPI is now available in the UAE. India’s flagship digital payments platform - UPI or unified payments interface can now be used by UAE residents to send and receive money. This will make the lives of 3.5 million Indians living and working in the UAE better by leaps and bounds.

For the first time ever India has settled an oil transaction with UAE in rupees. India purchased a million barrels of crude from UAE on Monday payment for this purchase was made in Indian rupees. According to a statement issued by the Indian embassy in Dubai, Indian Oil Corp made payment for the million barrels purchased from UAE's Abu Dhabi National Oil Company (ADNOC) in Indian Rupees. During Prime Minister Narendra Modi's visit to the UAE on July 15 the two countries signed a Memorandum of Understanding (MoU) to settle bilateral trade in national currencies.

India’s de-dollarization efforts are gaining momentum. In 2023, first, Bangladesh, then UAE, and now Indonesia will trade with India using local currencies. Other than that, 18 countries have been allowed by the RBI to use the rupee as a primary currency. In less than 48 hours of signing a memorandum of understanding with the UAE for Rupee-dirham trade India has inked a deal with Indonesia to trade in local currencies.

Discover how India aims to export its groundbreaking Unified Payments Interface (UPI) system to Gulf countries, including Bahrain and Saudi Arabia. With millions of Indians residing and working in the region, the National Payments Corporation of India (NPCI) is in talks to establish cross-border remittance systems using UPI. India's successful collaborations with countries like Singapore and Bhutan, and the advanced stage of discussions with the United Arab Emirates, highlight the potential for UPI to revolutionize digital payments globally. Join us as we explore India's latest financial endeavor and its impact on the Gulf.

IDEX-2023 exhibition will be held in Abu Dhabi, UAE from 20- 24 February