by admin | May 25, 2021 | Muslim World
Sheikh Mohamed bin Zayed Al Nahyan,
Abu Dhabi:(IANS/WAM) The cooperation between India and the UAE in the energy sector is expected to grow following the visit to India of Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, beginning Wednesday.
The visit comes six months after Indian Prime Minister Narendra Modi came to the United Arab Emirates (UAE) to strengthen bilateral ties and increase investments between the two countries.
A number of new agreements are likely to be signed, including on oil and gas and renewable energy, as part of the Abu Dhabi crown prince’s visit, Gulf News, a UAE-based daily, said.
“India is a growing energy market particularly with the Chinese demand slowing. So far we haven’t seen very much action by the Indian energy companies in the UAE so might be interesting to see if Indian energy companies are going to play more of a role here,” the paper quoted Robin Mills, chief executive officer of Dubai-based Qamar Energy, as saying.
Mills said there is a lot of room for investment in the Indian energy sector, particularly in power generation.
“A memorandum of understanding already exists between Abu Dhabi National Oil Company, (Adnoc), and the Indian Strategic Petroleum Reserve. India is seen as an important customer for UAE oil and the cooperation could stretch to UAE investment in developing energy reserves of gas and oil in India,” Gary Dugan, chief investment officer at Emirates NBD, said.
India imports about 270,000 barrels of crude oil per day, with the UAE being the sixth-largest supplier of the commodity to India.
by admin | May 25, 2021 | Muslim World
Paris, (IINA) – The United Arab Emirates on Wednesday officially received the flag as the host of the next world’s largest expo in Dubai on 2020 during a grand ceremony in the French capital of Paris, WAM reported.
President and Director of the Paris-based Bureau International des Expositions (BIE), the governing body of World Expos, presented the baton for Expo 2020 Dubai to Sheikh Ahmed Al-Maktoum, chairman of the Emirates Group, and chairman of the Supreme National Committee for Expo 2020 Dubai.
Expo 2020 Dubai, themed ‘Connecting Minds, Creating the Future’, has identified three sub-themes around which the global community will gather to sign new collaborations, in order to find solutions to essential matters and to leave a mark of a high social and economic cooperation around the world.
UAE Minister of state Reem Al-Hashemi delivered a speech in which she condemned the act of terror that took place recently in Paris.
Al-Hashemi pointed out that Expo 2020 Dubai aims to “blend the thoughtful with the thought-provoking”, emphasizing that humans’ “most basic drives lead us to bond together in communities to find collaborative solutions to common challenges”.
She said that Expo 2020 Dubai has three sub-themes, which are ‘Realizing Opportunity’, ‘Mobility’ and ‘Sustainability’. According to Expo 2020’s website, Opportunity sub-theme aims at unlocking new possibilities for people and communities to become successful contributors to the future. Mobility sub-theme aims at creating smarter and more productive physical and virtual connections. Sustainability sub-theme discusses pursuing hopes of progress without compromising the needs of future generations.
In her speech, Al-Hashemi uncovered that the UAE sought the opinions of almost 700 young people via a program named” YouthConnect” in order to design the agenda for Expo 2020 and choose the speakers and presenters. According to her, the youths expect Expo 2020 to provide opportunity and hope towards a more decent global civilization.
She also pointed out that the UAE engaged with young entrepreneurs and small and medium enterprises in order to ensure that they understand their vital role towards further prosperity. She said that her team is also meeting with business leaders from many countries via the forum of the International Business Councils in order to “monitor the global pulse”, noting that the business leaders presented to the board the best they could bring from areas such as architecture, artificial intelligence, climatology, and culture.
The minister stressed that the UAE and her board aim to make Expo 2020 seen as genuinely meaningful, impactful and enjoyable as well. Al-Hashemi concluded that the UAE is working to achieve a comprehensive ‘Master Plan’ that brings all the different threads into a coherent program, noting that the plan will be showcased in next year’s June Assembly.
by admin | May 25, 2021 | Halal Industries
The Ajman Palace Hotel
Ajman (UAE) (IANS): This is one ‘dry’ place where guests are crowding to enjoy a unique concept in hospitality. Tucked away in the UAE’s emirate of Ajman, the Ajman Palace Hotel takes pride in its halal-friendly tag.
Located on the beach-front that gives an endless view of the Persian Gulf, the Ajman Palace Hotel is a popular destination for travellers from Central Asian countries as well as those Muslim families which want to abide by the rules of Islam.
“We wanted to establish the property as a unique one. It is alcohol-free and focussed on family guests. We have worked very hard on making this concept (halal friendly) popular and our guests have given us a very encouraging response,” hotel general manager Ferghall Purcell, who hosted the G8 leaders when he headed the Lough Erne Resort in Northern Ireland in June 2013, told IANS here.
The absence of liquor in a 5-star property may be seen as a hindrance by many, but this is “not an issue at all” for the Ajman Palace management (managed by Hospitality Management Holdings or HMH), as Purcell put it.
The high point of the hotel is that it has become a much sought-after venue for all-women’s parties during weddings due to its ‘halal friendly’ concept.
“We have the largest hotel ballroom in the northern Emirates. We are a hit for weddings and big conferences. We recently hosted a big fat Punjabi wedding with guests travelling here from across the globe. Everyone went back happy with memories to cherish,” Purcell said.
The Al Saalah Ballroom can accommodate over 1,200 people.
The hotel, located among a chain of top properties along the Corniche road in Ajman, has hosted nearly 60 weddings this year.
It has its own 150-metre-wide private beach that can be enjoyed at any time, particularly between October and March.
With 254 rooms in the semi-circle shaped hotel, getting a sea-view room is an option. The hotel offers an array of food – ranging from local Arabic flavours to Indian sub-continent to continental to Japanese, among others. For those wanting to indulge in some evening fun, the open-air ‘Seesha’ bar is an attraction.
“Our guests can find 34 different kinds of sushi in our Asian restaurant Dragon’s Place,” its manager said.
“Balancing world-class facilities with the legendary Arabian hospitality, it offers 254 rooms, suites and serviced residences, a remarkable range of restaurants and lounges, fabulous meeting and event venues,” Purcell noted.
The hotel itself is a multi-nationality place with the staff hailing from 27 countries.
FAQs:
Property: The Ajman Palace Hotel (5-star).
Location: Ajman (capital of Ajman emirate); adjoining Sharjah city.
Distance: 11 km from Sharjah International Airport; 22 km from Dubai International Airport.
Activities: Pool, sea beach and an array of leisure and recreation options at Lifestyle Club, including a spa and state-of-the-art fitness facility.
Price range (rooms, suites, residences): $175 to $550 (Rs.12,000 to Rs.36,000)
(Jaideep Sarin was on a private visit to Ajman. He can be contacted at jaideep.s@ians.in)
by admin | May 25, 2021 | Investing
Union Minister for Finance, Corporate Affairs and Information & Broadcasting Arun Jaitley addressing at “Celebration of a Historic Milestone” function of National Security Depositary Limited (NSDL), in Mumbai
Abu Dhabi:(IANS) Finance Minister Arun Jaitley on Tuesday invited sovereign wealth funds of the United Arab Emirates to invest in India’s National Infrastructure and Investment Fund (NIIF), assuring it would provide good returns.
“It’s a great opportunity for the UAE sovereign wealth funds and pension funds to make best use of it (NIIF) and make big investments in India,” Jaitley said, according to a statement by India’s finance ministry.
The Abu Dhabi Investment Authority (ADIA) has shown keen interest in making investment on NIIF, it said.
The government had in July approved the creation of the NIIF with a corpus of Rs.20,000 crore for development of infrastructure projects, including the stalled ones.
It decided last week that a governing council headed by the finance minister will oversee the activities of the NIIF. Jaitley is the chairman of the six-member council, while the economic affairs secretary will function as the council’s secretary.
Jaitley met with ADIA Managing Director Sheikh Hamed Bin Jayed Al Nahyan and Chairman, Abu Dhabi Crown Prince Court, where investment in various sectors including infrastructure were discussed.
Sheikh Nahyan said his officials will be visiting India on November 19 to discuss the matter further.
He also said ADIA was interested in investing for establishing strategic oil reserves at Mangaluru port in Karnataka.
During the meeting, Jaitley mentioned the reforms taken recently by the government for attracting foreign investment in various sectors as a result of which FDI has increased by 40 percent during the current year over the previous year, the statement said.
Jaitley is on a two-day visit to the UAE to acquaint the investors there about the various investment opportunities in India.
by admin | May 25, 2021 | Economy, News, Politics
Prime Minister, Narendra Modi meeting the Crown Prince of Abu Dhabi, His Highness Sheikh Mohammed bin Zayed Al Nahyan, at Abu Dhabi on August 16, 2015.
New Delhi:(IANS) The importance of Prime Minister Narendra Modi’s visit to the UAE, the first after Indira Gandhi’s in 1981, can be gauged from the Gulf nation’s place in India’s energy security as the sixth largest import-source of crude oil in 2014-15.
“The Gulf region is vital for India’s economic, energy and security interests,” Modi told the Khaleej Times in an interview.
Bilateral trade has grown significantly from a level of $180 million in the 1970s to around $60 billion per annum now, making the UAE India’s third-largest trading partner for 2014-15 after China and the US.
Modi’s visit, external affairs ministry sources said, will focus on attracting investment by the United Arab Emirates'(UAE) massive oil-financed sovereign wealth fund that for Abu Dhabi is reported to be worth over $800 billion.
Meanwhile, plunging global crude oil prices that have again dropped below the psychological $50-a-barrel mark this year have forced the UAE government to cut down on subsidies and deregulate petrol and diesel prices last month, resulting in an increase by 24 percent in the price of petrol to $0.58 per litre.
The troubles from falling oil prices indicate that the six-member oil rich Gulf Cooperation Council (GCC), of which the UAE is a member, is starting to feel the pinch, according to Amit Bhandari, a fellow at the Mumbai-based foreign policy think-tank Gateway House.
“The GCC accounts for just over 16 percent of India’s exports, including discretionary items such as gems and jewellery. Weak GCC economies can hurt Indian exporters and spell trouble for Indian banks,” Bhandari said.
He pointed out that during the 2008 economic crisis, activities such as construction came to a halt in Dubai, rendering thousands of Indian workers jobless.
