EMIRATES
Zardari blames US exit for terror surge, highlights Pakistan's struggles with leftover Afghan arms
Bilawal Bhutto Zardari blamed the U.S. withdrawal from Afghanistan for rising terrorism and advanced weapons in Pakistan. He called for global cooperation, while critics accused Pakistan of regional threats and double standards. Diplomatic ties with Kabul have improved, but key tensions remain unresolved.
Oil inches up, outcome of US-China trade talks awaited
Oil prices saw a slight increase as investors awaited the results of U.S.-China trade discussions, which could potentially reduce trade tensions and boost fuel demand. While Iran plans to present a counter-proposal for a nuclear deal, disagreements with the U.S. persist over uranium enrichment.
India Inc's hiring outlook stays positive for Sept quarter
Indian companies show strong hiring intentions for the July-September quarter, ranking second globally behind the UAE, according to a ManpowerGroup survey. Despite a slight dip from last quarter, hiring outlook is driven by growth in IT, energy, utilities, and financial sectors, fueled by digital transformation and shifts in global trade.
Brazil's Embraer looking to step up jet production
Embraer aims to significantly boost its commercial plane production to meet airline demands for alternatives to the Boeing-Airbus duopoly. Exploring a new aircraft design to compete with industry giants, the company is also open to establishing a final assembly line in India, contingent on securing substantial orders from Indian airlines.
India builds aviation megahubs but policy bottlenecks stall global takeoff
India is expanding its aviation infrastructure rapidly with new runways, airports, and over 1,300 aircraft on order, aiming to become a global air travel hub. However, this growth is restricted by outdated bilateral air service agreements (ASAs), especially with the UAE, limiting seat capacity and raising fares.
Saudi Arabia's first-quarter GDP grows by 3.4%, beating flash estimates
Saudi Arabia's economy showed unexpected growth in the first quarter of 2025. Government data indicates a 3.4% GDP increase, surpassing earlier estimates. Lower oil prices had a smaller impact than anticipated. Non-oil sector growth reached 4.9%. The kingdom is currently managing a budget deficit. It is also proceeding with its Vision 2030 economic transformation plan.
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U.S. pizza chain Little Caesars eyes India expansion with dozens of new stores
Little Caesars is set to aggressively expand into India, aiming to open dozens of stores, starting in the Delhi NCR region, to capitalize on the country's strong economic growth. The pizza chain will customize its menu with vegetarian options and flavored crusts to appeal to local tastes.
UAE-based Indians travelling to Nepal caught off guard by new enforced reform, lose over Dh 1400
Indian residents in the UAE are facing unexpected travel disruptions and financial losses in Nepal due to the sudden enforcement of a No Objection Certificate (NOC) requirement. This rule, previously unenforced, mandates that Indian nationals returning to the Gulf obtain an NOC from the Indian embassy in Kathmandu.
US-UAE multi-billion dollar AI data campus deal far from finalised, sources say
The project, which plans to use advanced Nvidia AI chips, has been promoted by Trump officials as a win in steering Gulf states toward US technology over Chinese alternatives. But according to five sources briefed on the project, US officials have yet to determine the security conditions to export the advanced chips or how the agreement with the Gulf state will be enforced, leaving the deal far from resolved.
BRICS Parliamentary Forum condemns Pahalgam terror attack
The BRICS Parliamentary Forum, including China and Iran, denounced the Pahalgam terror attack. The forum pledged to combat terrorism collectively. Lok Sabha Speaker Om Birla advocated for cutting off terror funding. He also emphasized intelligence sharing and preventing technology misuse. The forum agreed on global cooperation against terrorism. They also focused on global peace and security.
Australian travellers heading to Maldives warned of terror threat, 'civil unrest'
Australia has issued a travel advisory for its citizens planning to visit the Maldives, urging them to exercise a high degree of caution due to the risk of civil unrest. The government advice has asked the tourists to stay clear of areas where public demonstrations are taking place and follow the instructions given by the authorities.
FIFA World Cup 2026 Qualifiers: Jordan, Uzbekistan make history
The 2026 FIFA World Cup, hosted by the United States, Canada, and Mexico, expands to 48 teams, offering unprecedented global representation. Jordan and Uzbekistan mark historic debuts, while powerhouses like South Korea, Japan, and Iran secure their places. With UEFA qualifiers underway, European giants vie for spots in what promises to be a landmark tournament.
South Korea nears World Cup qualification as Uzbekistan targets historic first
South Korea is close to securing a spot in the 2026 FIFA World Cup with upcoming qualifiers against Iraq and Kuwait. Meanwhile, Uzbekistan could qualify for the first time with a result against the UAE. With Japan and Iran already through, four automatic AFC spots remain up for grabs
How cryptos made cash-starved Donald Trump richer by $1 billion in just nine months
Donald Trump made about $1 billion in nine months from crypto projects. These include NFTs, memecoins, and a stablecoin. His net worth increased to $5.6 billion. The ventures helped him with legal costs. World Liberty Financial launched USD1, a stablecoin. The $TRUMP memecoin also generated revenue. This crypto success raises questions about conflicts of interest.
UAE rolls out digital work permit system for faster hiring of overseas workers
The UAE's Ministry of Human Resources and Emiratisation has introduced a new digital service to expedite the hiring of overseas workers. Employers can now apply for work permits through the MoHRE website or mobile app, streamlining the process with bundled service packages. The updated system leverages AI for document verification, enhancing efficiency and supporting the UAE's digitalization efforts.
Trump renegotiating Biden-era Chips Act grants, Lutnick says
Biden in 2022 signed the CHIPS and Science Act to plow $52.7 billion into boosting semiconductor chips manufacturing and research in the U.S. and luring chipmakers away from Asia. The program rolled out billions in grants for semiconductor heavyweights including Taiwan's TSMC, South Korea's Samsung and SK Hynix, as well as U.S.-based Intel and Micron .
Centre nudges Indian carriers to invest in crisis-hit Air Mauritius amid strategic push in Indian Ocean
The Indian government is encouraging its airlines to strategically invest in Air Mauritius, which faces a severe financial crisis with a significant negative equity. This initiative follows a request from Mauritius for potential investment and increased flight frequencies from Indian carriers.
Israel arms exports hit all time high in 2024: ministry
Israel's defence exports reached a record high of $14.7 billion in 2024. The Defence Ministry announced a significant increase in deals with Arab Gulf states. Missiles and air defence systems accounted for a large portion of exports. Sales to Abraham Accords countries also saw a sharp rise. Defence Minister Israel Katz stated that the world recognizes Israeli strength.
UAE Golden Visa vs Trump’s EB-5: Which one fits your residency goals?
The UAE and US offer residency pathways for investors and skilled professionals, according to the Times of India. The UAE's Golden Visa provides a 10-year renewable residency with a property investment of around $545,000. The US EB-5 visa, fast-tracked under Trump, requires an $800,000 investment creating ten jobs.
Taiwan's TSMC has no plans to set up manufacturing plant in Middle East: Chairman & CEO TSMC
TSMC Chairman CC Wei refuted rumors of establishing a manufacturing plant in the Middle East, specifically the UAE, emphasizing the company's focus on regions with strong customer demand near its largest clients. Despite tariff concerns, TSMC maintains its 2025 sales growth projections, noting clients haven't altered order volumes.
PM Modi bats for open skies, global air connectivity at IATA AGM
Prime Minister Narendra Modi affirmed India's commitment to open skies at IATA's AGM. He advocated for accessible and affordable air travel. Emirates raised concerns about India's restrictions on foreign airlines. India aims to become a global MRO hub by 2030. The country is also encouraging aviation companies to focus on 'Design in India'. New aircraft act aligns with global practices.
India considers easing bank ownership rules as foreign interest grows
India's banking regulator is considering easing foreign ownership rules to attract more long-term capital and facilitate acquisitions, driven by strong economic growth and the need for increased banking capital. The Reserve Bank of India is reviewing shareholding and licensing rules, potentially allowing regulated financial institutions to own larger stakes on a case-by-case basis.
Tariffs have some impact, but AI demand still outpaces supply: TSMC CEO
At the company's annual shareholders meeting in the northern Taiwanese city of Hsinchu, TSMC CEO C.C. Wei said they have not observed any changes in customer behaviour due to tariff uncertainty, and the situation may become clearer in the coming months.
Making more noise does not make you right on flying rights: IndiGo CEO
Pieter Elbers of IndiGo supports India's international flying rights policy. This follows Emirates President Tim Clark's concerns. Clark views the restrictions as harmful. Elbers suggests bilateral agreements require mutual consent. He highlights historical imbalances in flight operations. IATA acknowledges India's aviation growth. They foresee adjustments in access approaches as Indian carriers expand internationally.
IndiGo boss defends India's stand on flying rights, says more noise doesn’t mean more rights in skies
IndiGo's CEO, Pieter Elbers, defends the Indian government's "fair and balanced" stance on bilateral flying rights, countering claims from foreign carriers seeking increased access. He argues that bilateral agreements require mutual benefit and that excessive lobbying doesn't equate to justification.
Indian economy to be close to $30 trillion by 2047: Amitabh Kant
India anticipates significant economic growth. The nation's economy is projected to reach nearly USD 30 trillion by 2047. India's young population provides an advantage. Sustainable urbanisation is a key focus. The country needs to develop 500 new cities. There are plans to increase the number of airports to 400. Indian airlines are encouraged to compete globally.
UAE sees surge in foreign-owned real estate firms
The UAE's real estate sector is booming, attracting foreign-owned agencies due to relaxed ownership laws. Dubai's record-breaking property transactions and growing interest in emirates like Ras Al Khaimah fuel this expansion. The amended Commercial Companies Law allows 100% foreign ownership, boosting new real estate firm registrations.
Emirates warns against limiting access for foreign airlines
Emirates president Tim Clark has criticized India's aviation policies. He said limiting foreign air access could harm India's economy. Clark noted air transport is a key economic driver. The UAE has requested more flying rights. But India has resisted due to Air India's concerns. Clark highlighted the significant travel between India and Dubai.
Emirates Airline’ Tim Clark calls for more open access in Indian aviation market
Emirates Airline President Sir Tim Clark advocates for greater open access within the Indian aviation market, emphasising the need for increased bilateral rights to accommodate rising travel demand. Currently serving nine Indian cities, Emirates, nearing 40 years in India, seeks to expand its operations beyond the existing 65,000 seats per week limit.
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