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The Indian government is holding inter-ministerial talks to raise the cap on foreign direct investment in state-run banks from 20% to 49%, India’s Financial Services Secretary M. Nagaraju told reporters on Monday. Foreign interest in India’s banking industry is growing, as evidenced by, for example, the $3 billion purchase of a 60% stake in private RBL Bank by Dubai-based Emirates NBD. Currently, India allows 74% foreign investment in private banks, but shareholding by a single foreign institution is limited to 15% unless the Reserve Bank of India grants an exemption. Nagaraju said the Asian country plans to more than double…

The NHC National Foundation held its first meeting under the chairmanship of Chairman of the Board Mr. Mohammad Al Baty, members Mr. Yazid Al Nafisa, engineers Mr. Ahmed Al Qarawi, Mr. Yasser Al Huzaimi, Mr. Abdullah Al Mudayfa, Mr. Nawaf Al Tamiat, Mr. Abdul Latif Al Rajhi and Mr. Abdullah. Mr. Al Habib and Mr. Mohammed Al Hudeir at their destination in Khuzam, Riyadh City. Discuss the general framework for the organization’s activities, determine operational priorities, and consider governance and organizational pathways in a way that supports starting operations according to a sustainable institutional approach.The meeting discussed the organization’s goals…

Muscat: The Civil Aviation Authority (CAA) recently unveiled plans for the expansion of Sohar International Airport and the development of a new airport in Musandam. Tenders have been floated for the construction of a new passenger terminal at Sohar Airport. Engineer Salem Al Harashi, head of the airport project team at CAA, said that all studies related to the approved site for Musandam Airport have been completed and that a comprehensive assessment has been carried out in coordination with economic partners. The implementation plan for this project is expected to be approved later this year. Harisi said that the technical…

Sir Peter Mandelson, one of Britain’s Labor Party’s most prominent historical politicians and a shadowy figure of the Tony Blair era, has announced his resignation from membership to avoid “further embarrassment” for the ruling party, in the wake of the revelation of a new batch of Jeffrey Epstein documents released by the US Department of Justice last Friday.Mr Mandelson, 72, said in a letter to Labour’s general secretary Holly Ridley: “This week my name has once again been associated with the well-deserved controversy surrounding Jeffrey Epstein, for which I feel deep regret and remorse.”The famous British politician added: “While I…

Aldar Properties will begin construction of approximately 3,000 new homes in Abu Dhabi this year, with a total development value estimated at AED 23 billion ($6.26 billion), to meet growing housing demand.In a statement to Abu Dhabi Stock Exchange (ADX), the developer said it had acquired a 2.3 million square meter land bank spanning Saadiyat Island and Yas Island.Aldar plans to build luxury housing, including large villas and mansions, on the Saadiyat Island site.The Yas Island parcel will be dedicated to a large-scale master-planned community focused on family living, supported by established retail, entertainment and lifestyle infrastructure.These projects are scheduled…

RIYADH – Saudi Arabia’s real gross domestic product (GDP) recorded a growth rate of 4.5% in 2025 compared to the previous year 2024. The Saudi economy also achieved a growth rate of 4.9% in the fourth quarter of 2025, according to a rapid estimates report released by the General Authority for Statistics (GASTAT) on Sunday. The authorities announced that in 2025, oil-related business achieved the highest growth rate at 5.6%, followed by non-oil-related business at 4.9%, and government-related business recorded a growth rate of 0.9%. Non-oil activities made the largest contribution to real GDP growth, contributing 2.7 percentage points, while…

Israeli security officials announced today (Monday) that they have reopened the Rafah border between Gaza and Egypt to residents of the Gaza Strip in both directions.First day of operation”For now, following the arrival of the European Union Border Assistance Mission (EUBAM) team representing the European Union, the Rafah crossing has been opened for the movement of residents into and out of the country,” the official said.According to Egyptian government media, the Rafah land border crossing will be able to allow 50 people to pass in each direction once it is officially operational.The Cairo News Channel reported that the number of…

According to data from the Department of Statistics, Saudi exports of chemical and related industrial products amounted to approximately 6.62 billion riyals in November 2025, achieving a slight increase of 0.5% compared to the same month in 2024.Limited monthly drawdown On a monthly basis, the sector’s exports decreased by approximately SR 178.2 million, which corresponds to 3% compared to October 2025.export share Exports from the chemical industry account for about 20% of Saudi Arabia’s total non-oil exports, reaching 32.7 billion riyals in November last year.India tops destination India was the top importer of Saudi chemicals, with a value of SR1.58…

LONDON: US private equity firm Carlyle has begun exploratory talks with UAE investors to bring in a partner if an initial deal to buy Russian company Lukoil’s international assets goes ahead, three sources familiar with the process said. Carlyle and Lukoil on Thursday announced a preliminary agreement to transfer a wide range of assets, including oil fields in Iraq and refineries in Eastern Europe, to American companies, pending approval from U.S. authorities, which have placed the Russian producer under sanctions. The two companies did not disclose the valuation of the deal, which excludes Lukoil’s Kazakh assets, because no agreement has…

Doha – Qatar Investment Authority (QIA) plans to invest in five new venture capital funds as part of the expansion of its $3 billion venture capital program, the sovereign wealth fund announced on Monday. The new fund, called Greycroft, Ion Pacific, Liberty City Ventures, Shorooq and Speedinvest, will open an office in Doha in an effort to develop Qatar as a venture capital hub, it said in a statement. The Fund of Funds initiative was announced in 2024 with the aim of attracting venture capital firms to Qatar, building a strong environment for entrepreneurs and helping the country diversify its…