DUBAI MARITIME CITY AUTHORITY
Suspected Houthi attacks target a ship in Gulf of Aden and Israeli port city of Eilat
Yemen's Houthi rebels launched suspected attacks early Wednesday, targeting a ship near Aden in the Gulf of Aden and the Israeli port city of Eilat. A missile reportedly struck close to a merchant vessel off Aden, with no reported damage. Meanwhile, a drone incident occurred near Eilat, triggering Israeli air raid sirens. The Houthis, known for such attacks, have not claimed responsibility yet. Their ongoing campaign aims to disrupt shipping in the region, citing the Gaza conflict as a motive.
India’s new finance hub in Gujarat eyes real-time dollar settlement by 2025
Real-time dollar settlement in India’s newest financial hub in Gujarat, GIFT City, is set to begin later this year. The service aims to attract foreign investors by streamlining transactions and reducing delays.
Why are India's richie rich choosing Dubai to migrate?
A report by Henley & Partners reveals that approximately 4,300 millionaires are expected to leave India this year, with many choosing the UAE as their destination. The UAE's appeal lies in its business opportunities, financial benefits, and high-quality lifestyle, attracting both wealthy individuals and professionals.
Ship attacked by Yemen's Houthi rebels in fatal assault sinks in Red Sea in their second sinking
A bulk carrier sank in the Red Sea days after an attack by Yemen's Houthi rebels, who are believed to have killed one mariner on board. The sinking of the Tutor marks an escalation in the Houthis' campaign targeting Red Sea shipping, despite ongoing U.S.-led efforts to halt the attacks. The attack, using drone boats, highlights the ongoing conflict in the region. The shipping industry has condemned the attacks, calling for them to stop immediately. Meanwhile, the Houthis claim that U.S.-led airstrikes targeted areas in Yemen under rebel control.
Budget 2024 may give Indian startups' HQ relocation plans a fresh lease of life
Indian startups domiciled abroad may relocate their headquarters to India via GIFT City, utilizing its SEZ for tax benefits. Amendments this year enabled unlisted firms to directly list on GIFT IFSC. IFSCA aims to finalize GIFT City listing norms by July for August implementation, facilitating e-commerce and tech firms' return like Razorpay, Zepto, Meesho to tap into India's growing stock market and access capital through global listings in GIFT City or specific overseas jurisdictions.
Kuwaiti authorities launch crackdown on illegal property extensions after Mangaf fire
Most deaths were due to smoke inhalation while residents in the building were sleeping when the fire broke out early Wednesday in Kuwait's southern city of Mangaf in Ahmadi Governorate. The building was home to 196 migrant workers, mostly Indians. The Kuwait Municipality has launched a rigorous crackdown on illegal property extensions, the Arab Times newspaper reported.
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Singapore port container logjam worsens as ships avoid Red Sea
Singapore's port faces congestion due to vessel diversions to avoid Red Sea attacks by Houthi rebels, impacting global supply chains and causing delays in goods delivery.
Bengal police to bring one of key suspects in Bangla MP's murder from Nepal to Kolkata
West Bengal CID will bring a key suspect in the murder of Bangladeshi MP Anwarul Azim Anar from Nepal to Kolkata. Muhammed Siyam Hussain, who allegedly fled to Nepal after the murder, was apprehended last Thursday. The decision to transfer him to Indian authorities is due to the murder occurring within Kolkata's jurisdiction. Efforts to locate the missing MP's body parts and investigate his disappearance continue.
Sweden, Norway ink long-term security deals with Ukraine
Zelenskyy visited Stockholm as Western nations discuss whether to let Kyiv use weapons provided by them to strike targets inside Russia. The security deals with Sweden and Norway bring to 15 the number of agreements Kyiv has signed with Western nations.
Houthi rebels say at least 16 killed, 35 others wounded in joint US-British airstrikes in Yemen
Joint British-US airstrikes on Yemen's Houthi rebels killed 16 and injured 35 in response to attacks on shipping in the Red Sea and Gulf of Aden.
Bangladesh MP Murder: Detective chief says conspirator may have escaped to US, seeks Interpol's help to track down suspect
The primary suspect in the murder of Bangladeshi MP Anwarul Azim Anar, Akhtaruzzaman Shaheen, is believed to have escaped to the US via Dubai from Kathmandu. Bangladesh is seeking Interpol's assistance in apprehending him, emphasizing the seriousness of the crime. The murder, motivated by a dispute over proceeds from a gold smuggling racket, led to the victim's body parts being dismembered and disposed of in Bagjola canal near Kolkata. Authorities are coordinating with Indian counterparts to track down suspects.
Forex settlement next step by GIFT to onshore what's offshore
GIFT City to launch foreign currency settlement system chaired by K Rajaraman, IFSCA, supported by RBI and Clearing Corporation of India. System to settle US dollar transactions between IBUs in real-time. CCIL subsidiary to operate FCSS, aiming for operation by October 2024. Other currencies may be added later
Indian delegation holds talks with key entities in UAE on IMEEC
Indian delegation visits UAE to discuss the India-Middle East-Europe Economic Corridor (IMEEC) within 3 months of signing the Framework Agreement. Both sides prioritize cooperation and empowerment for the strategic project aiming at efficient supply routes, cost reduction, job creation, and reducing greenhouse gas emissions.
Dubai police honours Indian boy for returning tourist’s lost watch, urges people to take inspiration from his honesty
In Dubai, a young Indian boy, Muhammad Ayan Younis, earns praise from police for returning a lost watch, showcasing honesty and integrity. Dubai Police highlights his act on social media, urging others to emulate. The tourist's watch was reunited with its owner, emphasizing Dubai's security measures. Brigadier Al Jallaf applauds Younis, emphasizing UAE's moral standards. The incident mirrors a similar return of lost wallet in Israel, illustrating the value of honesty.
'Enjoying Bengaluru rains in Dubai': Netizens react as UAE sees heavy rains for second time in 2 weeks, while India's Silicon Valley scorches
UAE faced heavy rains with safety advisories, school closures, and work-from-home orders. On the other hand, Bengaluru is witnessing record temperatures. Severe rains in UAE and Oman had caused floods and casualties last month
Buying a home in Dubai? Do a FEMA reality check
Navigating property purchases in Dubai can be a regulatory maze for Indians due to foreign exchange laws. Deals offering easy payment plans with instalments over years may violate FEMA. Regulations permit remittance of $250,000 per individual annually for property purchases abroad. However, transactions involving 'instalments' create obligations in foreign exchange, potentially breaching FEMA rules.
After the deluge, resilience, recovery, and damage assessment in Dubai
Dubai recovers slowly after rains. Flight cancellations, relief efforts, and heroic deeds unfolded. UAE's tourism sector impacted. Indian embassy advises rescheduling travel. Emirates Airline halts local check-in to support operations recovery.
Indian consulate in Dubai launches helpline numbers for Indians affected by severe rain in UAE
Indian consulate in UAE sets up helplines due to severe rains, aiding stranded travelers. Recovery efforts underway after worst recorded rainfall causes flooding in Dubai and disrupts daily life in the region.
Dubai International Airport limits incoming flights as city reels from record rainfall
Emirates has suspended Dubai onward connection check-ins till midnight April 19 due to weather challenges. IndiGo too issued a travel advisory, while the Indian Embassy in Dubai issued helpline numbers for stranded passengers.
Dubai rains: Reschedule non-essential travel, Indian embassy tells Indians
Indian embassy advises rescheduling for inbound Indian passengers at Dubai International Airport due to heavy rains causing flooding. UAE aims to restore normalcy after disruptions.
Dubai faces massive clean up after deluge swamps glitzy desert city
Dubai copes with aftermath of record storm with flooded roads and homes. Heaviest rains in 75 years caused traffic disruptions and significant damage. Abu Dhabi faces product shortages. Delivery services resume as global warming blamed for extreme weather events.
Dubai Floods: Is artificial rain behind UAE's rare torrential weather?
Dubai Floods: Dubai experienced rare torrential rain, causing widespread flooding and raising concerns about climate change's impact on extreme weather. The UAE's cloud seeding program, initiated in 1982, aims to enhance rainfall by stimulating cloud condensation. Managed by the NCM, the program uses natural salts as seeding agents, avoiding environmental harm. The UAEREP analyzes atmospheric conditions and pollutants to optimize cloud seeding. Despite environmental concerns, the UAE's innovative approach demonstrates its commitment to sustainable solutions amid escalating climate challenges.
Dubai's wettest day in history: 1.5 years of rain in 24 hours. What's behind UAE's record rainfall?
Dubai Floods: The UAE witnessed unprecedented rainfall leading to severe flooding in Dubai. Climate scientists attributed the heavy rains to warm waters of the Persian Gulf and global warming. The region experienced significant disruptions, with flights affected and 18 casualties in Oman. One death was reported in the UAE as deluge of up to 254 millimeters of rain—equivalent to approximately two years' worth of rainfall—on Tuesday in the arid United Arab Emirates.
Dubai grapples with record rainfall, causing chaos and disruption: Top 10 things to know
Dubai floods: The rainfall, described as the heaviest in 75 years, brought the desert city to a standstill, with highways resembling waterlogged canals and the bustling airport struggling to manage operations.
Dubai flood: Watch time lapse video of the massive storm that caused a record flood in one of the world's most arid region
Severe thunderstorms struck the UAE, flooding Dubai with a year and a half's worth of rain in hours. Traffic chaos and airport disruptions ensued. Overcrowded terminals led to turned-away passengers. Metro services halted, schools closed, and homes flooded. While no official damage report is available, a tragic incident occurred in Ras al-Khaimah. Neighboring Oman faced casualties. Remote work continued as the region grapples with unaccustomed heavy rainfall, revealing infrastructure vulnerabilities.
Dubai airport diverts flights as 'exceptional weather' hits city
The world's busiest air hub for international passengers, which had been expecting more than 100 flights on Tuesday evening, earlier briefly halted its operations in the chaos caused by the storm.
Dubai’s Golden Visas are helping the city defy global office slump
Dubai's economy is thriving as it attracts expatriates, expands business licenses, and experiences high demand for commercial real estate. From crypto investors to rich Indians looking for second homes, as well as young job seekers, the city's reforms and flexible residency rules have made it a desirable destination for individuals and businesses, leading to population growth and increased investment.
This 56-member family lives in Rs 4000 crore palace, owns 700 cars; All you should know about world's wealthiest family
Dubai's Al Nahyan royal family, spotlighted by GQ as the world's wealthiest dynasty, redefines opulence. From a ₹4,078 crore palace to a private jet fleet led by Sheikh Mohammed bin Zayed Al Nahyan, the family's influence spans vast global holdings, including oil reserves, corporate ventures, and extensive real estate. Automotive extravagance, a majestic presidential palace, and strategic investments under Tahnoun bin Zayed further showcase their financial acumen. With comparable wealth to the British royal family, ownership of Manchester City, and a superyacht collection, the Al Nahyan's boundless wealth cements their status as international powerhouses.
From coastal trading town to high-tech hub: Dubai’s transformation through entrepreneurial stories
Long-time business families, recent entrepreneurs and investors in Dubai share insights into the city's transformation, highlighting business opportunities and challenges.
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