Category: Economy

On Friday, leaders from the Gulf Cooperation Council (GCC), Jordan, and Egypt will gather in Saudi Arabia for a pivotal meeting. Crown Prince Mohammed bin Salman will greet the leaders in Riyadh for what has been called “an informal brotherly meeting,” according to the Saudi Press Agency (SPA).

The meeting is a continuation of a long-standing custom of frequent informal talks between these countries. According to officials, the gathering will offer a chance to discuss regional cooperation and developments. The agenda for the next Arab summit will be a major point of discussion.

Egypt recently said that on March 4, it will host an urgent Arab conference with a focus on Gaza rehabilitation. Abdel Fattah al-Sisi, the president of Egypt, stated that his nation is developing a comprehensive plan to reconstruct the region destroyed by conflicts without forcing its Palestinian inhabitants to leave.

This comes after former US President Donald Trump made a controversial proposal that Gaza be repopulated and turned into a luxury destination. The Arab world, which views the idea as an attempt at forced displacement, has strongly denounced it.

Thai visitors no longer need a visa to enter Mumbai, Delhi, Chennai, Kolkata, Bangalore, and Hyderabad. Up to December 31st, the Indian government has instituted a 30-day visa-free entry policy. To balance the growing number of Indian tourists visiting Thailand, this effort seeks to draw in more Thai tourists.

The Indian embassy in Thailand affirmed on February 7 that Thai visitors are not required to pay a visa fee to enter India. Single or multiple entry and a maximum stay of 30 days are permitted with the e-tourist visa. The application must be filled out beforehand via the official website.

It is anticipated that this project will improve tourism and cultural contacts between the two countries. Nearly 2 million Indian visitors travelled to Thailand in 2023. In 2024, that figure is anticipated to increase to 2.5 million. India is reducing the cost of visas for Thai visitors to counteract this trend.

Furthermore, an expansion of flights between the two nations has been authorised by India. Six key routes now provide more than 7,000 additional seats every week. This action promotes Thai tourists to discover India’s rich cultural legacy, boosts local economies, and fortifies diplomatic ties.

The Reserve Bank of India (RBI) has launched a new smartphone application, ‘RBI Data,which aims to provide easy access to vital financial and economic information. With this software, users may effortlessly access over 11,000 different data series about India’s economy. The program seeks to make it easier to retrieve financial information by reducing the need to recall multiple economic indicators.

According to RBI, the app will provide financial and economic data in a user-friendly and visually appealing style. The software offers graphical representations and charts of time-series data, making it easier for users to see trends.

Users can also view details such as data sources, measurement units, update frequency, and history records. The app also contains a ‘financial Outlets’ feature, which allows users to find financial services within a 20-kilometer radius.

For regional financial information, the app includes a ‘SAARC Finance’ area with data on South Asian countries. It also provides direct access to the RBI data portal.

The app serves researchers, students, and professionals by providing easy access to extensive economic insights. Meanwhile, the RBI expanded the UPI credit line structure, allowing individuals to use pre-approved credit lines as funding sources.

The Comprehensive Economic Partnership Agreement (CEPA) between India and the United Arab Emirates celebrated its third anniversary on February 18, 2025. On February 18, 2022, India’s Prime Minister Shri Narendra Modi and the President of the United Arab Emirates, His Highness Sheikh Mohamed bin Zayed Al Nahyan, inked this historic trade agreement during a virtual summit. It becomes formally operative on May 1, 2022.

Bilateral trade between the two countries has experienced an unprecedented increase since the agreement’s adoption. Between FY 2020–21 and FY 2023–24, the total trade value increased from USD 43.3 billion to USD 83.7 billion. Trade reached USD 71.8 billion between April and December 2024 alone, demonstrating the swift economic interaction between the nations.

The growth of non-oil commerce, which totalled USD 57.8 billion in FY 2023–2024, has been greatly aided by CEPA. The objective of reaching USD 100 billion in non-oil commerce by 2030 is in line with this expansion.

In FY 2023–2024, India’s non-oil exports to the UAE increased dramatically to USD 27.4 billion. Products made from refined crude oil, jewellery and stones, electrical equipment, chemicals, and high-tech items are important export markets.

India plans to attain a staggering 500 gigawatts (GW) of renewable energy capacity by 2030, Prime Minister Narendra Modi declared during his virtual presentation at Indian Energy Week 2025. He emphasised that the next two decades will be critical to developing India into a ‘Viksit Bharat’ (Developed India).

“Our targets may seem ambitious, but the past decade’s progress gives us confidence that we can achieve them,” PM Modi said.

He also emphasised India’s commitment to sustainability, noting Indian Railways’ goal of achieving net-zero carbon emissions by 2030. He says India’s rapid economic growth is inextricably linked to energy advancements.

“Experts around the world feel that the twenty-first century belongs to India. “We are not only propelling our own economy but also contributing to global growth,” he stated.

Modi laid up five critical pillars for India’s energy future: optimising internal resources, stimulating innovation, leveraging economic strength, improving energy trade, and committing to global sustainability.

Over 70,000 delegates and 700 exhibitors are expected to attend Indian Energy Week 2025, which takes place in Dwarka from February 11 to 14. Union Minister Hardeep Singh Puri emphasised the event’s focus on energy security, sustainability, and low-carbon technologies, confirming India’s status as a global energy leader.

France and the UAE intend to invest between €30 billion and €50 billion to build a 1GW AI data centre and fund other AI-related projects.

The declaration was made on Thursday, following a high-profile meeting between French President Emmanuel Macron and UAE President Mohamed bin Zayed Al Nahyan. The AI campus will be located in France, while the particular location has yet to be chosen.

The project will prioritise semiconductor development, AI talent cultivation, and virtual data embassies, which will contribute to the establishment of sovereign AI and cloud infrastructures in both countries.

Few details have been revealed, although rumours imply that the plan will be spearheaded by a Franco-Emirati group, which includes the MGX Investment Fund. MGX, which is backed by Abu Dhabi, is also a major investor in OpenAI’s Stargate initiative, which aims to invest $500 billion in US data centres over the next four years.

France is hosting an international AI event in Paris, where additional investments may be announced. The government has already identified 35 possible data centre sites and is offering fast-track permits. With nuclear power accounting for 65% of its electricity, France is establishing itself as a key hub for AI-powered data centres.

The UK government has pledged to create new nuclear energy project sites in England and Wales to accelerate the deployment of Small Modular Reactors (SMRs) and attract private investment. This initiative is part of PM Keir Starmer’s larger plan to decarbonise Britain’s electricity sector while maintaining energy security.

Starmer’s office announced the increase of the list of potential nuclear development locations, as well as measures to streamline planning procedures. “For decades, this country has failed to build new nuclear power plants.” “We’ve been let down and left behind,” Starmer said.

Successive British administrations have supported SMRs, which are tiny nuclear reactors meant to cut costs and planning delays when compared to large-scale units. However, no SMR projects have been built thus far.

Attracting private funding is an important part of Starmer’s economic development plan. His administration has already implemented substantial planning reforms to accelerate key infrastructure projects.

Currently, eight sites have been approved for nuclear development, but the new strategy encourages investors to submit more. There is also the option to locate SMRs near energy-intensive AI data centres.

Four companies are competing in a government-led SMR competition that began in 2023: Rolls-Royce, Westinghouse, Holtec Britain, and GE-Hitachi Nuclear Energy.

On Sunday, Egyptian Prime Minister Mostafa Madbouly met with senior Emirati ministers to discuss ways to strengthen economic cooperation. The discussions centred on the status of collaborative projects between Egypt and the UAE.

Vice Prime Minister for Industrial Development and Minister of Industry and Transport Kamel Al-Wazir, UAE Minister of Industry and Advanced Technology Sultan Ahmed Al Jaber, and UAE Minister of Investment Mohamed Hassan Al Suwaidi also attended the meeting. It was an important step towards strengthening bilateral relations and expanding economic ties between the two countries.

Prime Minister Madbouly greeted the Emirati delegation and underlined Egypt’s commitment to increasing cooperation. The Ras El-Hekma project, a key development on Egypt’s northwest coast, was a major issue of discussion. The $35 billion program, spearheaded by the UAE’s Abu Dhabi Developmental Holding Company (ADQ), seeks to turn the region into a smart, sustainable city.

The proposal comprises world-class tourism destinations, cutting-edge infrastructure, an international airport, and a high-speed rail network. By 2045, overall investment in Ras El-Hekma is estimated to top $110 billion.

Other important areas of cooperation were energy, data centres, and infrastructure development.

Africa’s primary copper producers, the Democratic Republic of the Congo (DRC) and Zambia, are aggressively negotiating deals to secure a foothold in metal trading. With demand for copper skyrocketing due to its use in artificial intelligence (AI) and green energy, these countries seek a larger part of trading earnings.

For decades, transnational businesses such as Glencore have dominated the metal trade. However, during the last year, Congo and Zambia have increased efforts to trade their own mined copper. These countries supply more than 13% of the world’s copper, making them major players in the worldwide market.

Gecamines, Congo’s state-owned miner, is in talks with Glencore to acquire approximately 51,000 metric tonnes of metal from Kamoto Copper Company (KCC). The finalisation date is unknown. Glencore has declined to respond.

Gecamines has also started trading approximately 100,000 tonnes from its 20% interest in Tenke Fungurume Mining, after a 2023 agreement with Chinese owner CMOC Group. Meanwhile, Zambia and Mercuria, a Swiss commodity trader, have formed a joint copper trading unit with a $500 million budget.

While these measures may boost government revenue, researchers caution that disagreements over pricing, trading rights, and investor trust may pose long-term issues.

India has slashed personal tax rates in its annual budget, hoping to encourage local consumption while global economic uncertainty persists. The PM Modi government increased the tax-free income threshold from 700,000 rupees to 1.28 million rupees ($14,800). Additionally, tax rates were reduced for persons earning more than this amount.

Finance Minister Nirmala Sitharaman remarked that the decision would increase the middle class’s disposable income, encouraging higher household spending, savings, and investment. On the other hand, this tax relief will cost the Treasury 1 trillion rupees (or $11.6 billion) every year.

The budget also included assistance programs for farmers, youth, women, and low-income individuals. Farmers would benefit from increased subsidised credit limits of 500,000 rupees ($5,778). To combat high food inflation, the government launched a nationwide campaign to promote high-yield crops such as pulses and cotton.

India’s fiscal deficit target for 2025-26 is 4.4% of GDP, with plans to borrow 14.82 trillion rupees. To stimulate financial sector growth, the government increased the foreign direct investment ceiling in insurance from 74% to 100%.