Business

DUBAI, Nov 18 (NNN-WAM) – The United Arab Emirates (UAE’s) Vice President, Sheikh Mohammed bin Rashid Al Maktoum and Abu Dhabi’s Crown Prince, Sheikh Mohamed bin Zayed Al Nahyan, on Sunday, opened the Dubai Airshow 2019, at the Dubai World Centre.

Airbus and Boeing are set to battle for new orders from local and regional carriers, at the Dubai Airshow, in the wake of Boeing’s 737 MAX grounding, slow global economy and gloomy geopolitical situation.

DUBAI/United Arab Emirates/, November 18. /TASS/: Russia has launched production of S-400 missile defense systems for India and the contract on their delivery will be fulfilled by 2025, CEO of Russia's state hi-tech corporation Rostec Sergei Chemezov told Dubai Airshow 2019.

"The advance payment has been made. I don’t want to specify an exact figure, but there is an advance payment. We have launched production and the work is underway, and everything will be implemented as scheduled. The contract will be fulfilled by 2025," Chemezov said.

New Delhi, Nov 16 (PTI) The government is considering to re-introduce restrictions on royalty payments for technology transfer in view of excessive outflow of such funds to overseas companies, sources said.

A proposal in this regard will soon be circulated by the Department for Promotion of Industry and Internal Trade (DPIIT) for inter-ministerial consultation, sources said.

New Delhi, Nov 17 (PTI) India has granted visa-on-arrival facility to the citizens of the United Arab Emirates (UAE) with an aim to enhance people-to-people contacts and trade relations, officials said on Sunday.

The visa-on-arrival facility for the nationals of the UAE came into effect from Saturday. It will be available for a period of up to 60 days with double entry for business, tourism, conference and medical purposes, a government official said.

DUBAI (Reuters) - Saudi Aramco is worth up to $1.7 trillion at the IPO price range set by the oil giant on Sunday, below the $2 trillion targeted by Saudi’s crown prince but still vying for the title of the world’s biggest IPO.

However Aramco cannot sell the shares directly to investors in the United States and other markets, as the deal will now be restricted to Saudis and foreign institutions, who can invest in shares in the kingdom’s stock market.

New Delhi, Nov 15 (PTI) Finance Minister Nirmala Sitharman on Friday said the government will bring legislations on raising insurance cover on bank deposits from the current Rs 1 lakh and regulating multi-state cooperative banks.

These legislations will be brought during the Winter Session of Parliament starting coming Monday, the minister told reporters here.

Kolkata, Nov 15 (PTI) The number of military aircraft in the country will soon increase to 2,000 from the present 1,400, thus opening up more opportunities for the MSME sector in repair and overhaul, a senior IAF officer said on Friday.

There will be a huge requirement of aircraft in the next 10 to 20 years in military aviation of the country, said Air Marshall R K S Shera, Air Officer Maintenance of the IAF.

"The number is going to blow up from whatever we have today at 1,400, it will rise to 2,000 soon," he said at a programme here.

New Delhi, Nov 15 (PTI) India's exports contracted for the third month in a row in October by 1.11 per cent to USD 26.38 billion mainly on account of a significant dip in shipments of petroleum, carpet, leather products, rice and tea.

Imports too declined by 16.31 per cent -- the steepest fall in more than three years -- to USD 37.39 billion in October, narrowing the trade deficit to USD 11 billion, according to the government data released on Friday.

BRASILIA, Nov 15 (NNN-AGENCIES) — Five of the biggest emerging economies railed against protectionism as they vowed to overcome “significant challenges” facing multilateralism, in a swipe at US tariffs and unilateral action.

The joint declaration by BRICS countries – Brazil, Russia, India, China and South Africa – came on the second day of the annual gathering, which Brazilian host President Jair Bolsonaro used to boost ties with Chinese counterpart Xi Jinping.

15 Nov 2019; MEMO: Egypt’s unemployment rate rose to 7.8 per cent in the third quarter of 2019, compared to 7.5 per cent in the previous quarter, state-run Central Agency for Public Mobilisation and Statistics (CAPMAS) announced yesterday.

Unemployment in Egypt amounted to 10 per cent of the total labour force in the third quarter of 2018.