Businesses operating as unincorporated partnerships in the UAE can now choose to be taxed as full legal entities, according to a recent Cabinet Decision issued by the Ministry of Finance. This optional amendment permits eligible partnerships to apply to the Federal Tax Authority (FTA) for approval to be regarded as corporations for tax purposes. According to existing regulations, the majority of UAE partnerships are tax-transparent. This means that, while the partnership is not taxed, each member is responsible for reporting and paying taxes on their portion of the revenue. However, follow
Prime Minister Narendra Modi opened a cutting-edge locomotive manufacturing plant in Dahod, Gujarat, a key step towards modernising India's railway system. This facility, created by Indian Railways, is expected to increase the country's freight transportation and export capability. During the opening, Prime Minister Modi also launched the plant's first electric locomotive. He was joined by Union Railway Minister Ashwini Vaishnaw and Gujarat Chief Minister Bhupendra Patel. According to the Prime Minister's Office, the Dahod facility exemplifies the government's objective to improve national
Prime Minister Narendra Modi will visit Gujarat to inaugurate and lay the groundwork for approximately ₹77,000 crore in development projects. The projects cover vital areas such as trains, power, ports, urban development, and tourism. The Prime Minister will also visit Dahod, where he will dedicate a cutting-edge Locomotive Manufacturing Plant to the nation and launch an electric locomotive. He will launch projects worth ₹24,000 crore in the region and address a public event. In Bhuj, PM Modi will announce infrastructure projects worth over ₹53,400 crore. These include large inves
According to figures issued by the International Monetary Fund, India has officially surpassed Japan to become the world's fourth-largest economy. The declaration was made by NITI Aayog CEO BVR Subrahmanyam at the 10th Governing Council Meeting, which centred on "Viksit Rajya for Viksit Bharat 2047." Subrahmanyam revealed during a news conference that India's economy has crossed USD 4 trillion. "We have a USD 4 trillion economy as of today. This is IMF data. "India has now surpassed Japan and is only trailing the United States, China, and Germany," he remarked. Subrahmanyam said that In
On May 22, Prime Minister Narendra Modi will launch 103 redeveloped Amrit Stations throughout 86 districts in 18 Indian states. The Amrit Bharat Station Scheme has invested over ₹1,100 crore in revamping stations to improve passenger experience and celebrate India's unique cultural history. PM Modi will oversee the inauguration from Bikaner, including a visit to the recently modernised Deshnoke Railway Station. During the event, he will also flag off the Bikaner-Mumbai Express and address a crowd in Palana. The Prime Minister will launch infrastructure projects in Rajasthan worth over �
The Indian government has set aside 180 tonnes of gold imports from the United Arab Emirates at a reduced tax under the CEPA for the fiscal year 2025-26. This concessional tariff plan allows eligible importers to bring in gold for a 5% import fee. The move sparked a boom of interest from traders, with the Directorate General of Foreign Trade receiving 2,960 applications—25 times the allotted limit and a 253% increase over the previous year. The extremely high volume of applications, however, resulted in significant rejections. According to the Indian Bullion and Jewellers Association, ov
Singapore's Changi Airport has officially begun construction on its Terminal 5 extension, with Prime Minister Lawrence Wong overseeing the groundbreaking on May 14, 2025. The new terminal has been in the works for years to accommodate rising passenger traffic in the Asia-Pacific area. After completion, both Singapore Airlines and Scoot will operate from Terminal 5. Terminal 5 is expected to handle roughly 50 million passengers per year, bringing Changi's total capacity to around 140 million, up from the current 90 million across four terminals. The project was delayed by two years due to t
Morocco has struck major agreements worth about $14 billion with a partnership of Emirati and Moroccan companies to improve its energy and water infrastructure. The transactions, inked on Monday, involve the state-owned National Office of Electricity and Drinking Water (ONEE), the Mohammed VI Public Investment Fund, Taqa Morocco—a subsidiary of UAE-based energy giant Taqa—and Nareva, which is part of Morocco's royal holding firm Al Mada. These projects aim to strengthen Morocco's energy independence and water security. A key component of the program is the construction of a 1,400-kilom
The United States and the United Arab Emirates are strengthening their long-standing energy alliance, with US energy corporations planning to invest $60 billion in UAE oil and gas projects over the project's duration. The announcement was made during the UAE-US business discussion in the presence of former US President Donald Trump. In a reciprocal gesture, UAE energy investments in the United States are expected to exceed $440 billion by 2035, matching Abu Dhabi's greater $1.4 trillion investment in the American energy sector. Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Tec
Tamil Nadu has achieved a significant economic milestone, becoming the second Indian state after Maharashtra to cross $400 billion in Gross State Domestic Product (GSDP). This feat highlights India's expanding economic momentum and the strength of its regional economies. With a GSDP of ₹31.55 lakh crore, Tamil Nadu's focus on industrialisation, innovation, and infrastructure has made it a vital driver of India's economic success. The state has developed into a manufacturing and automotive powerhouse, attracting both domestic and international investment. Its diverse economy, proactive go