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 valu
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 eco
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
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
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 tw
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 player
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 (o
Shares of Indian real estate companies rose on Saturday after the government announced tax cuts to boost middle-class spending in Asia's third-largest economy. The move is intended to increase investments in residential housing, benefiting homebuyers and developers. Investors and economists are optimistic about the government's proposal to decrease income tax rates in the 2025-26 budget. Experts anticipate the cutbacks will enhance disposable income and improve consumer demand, alleviating concerns about slow consumption in previous quarters. Following the announcement, the Nifty Realty
The Union Finance Minister's Budget 2025 speech on February 1 included a major tax overhaul with the new Income Tax Bill. The most notable reform is the entire exemption from income tax for earnings up to ₹12 lakh. Income tax rates have been altered, with the highest rate only applied to people earning more than ₹30 lakh yearly. These reforms are projected to dramatically reduce the tax burden for middle-class people. Another critical step is to rationalise the tax deduction and collection rates and thresholds. The TDS exemption threshold for mutual funds is now ₹10,000, up from ₹5
According to official data released on Friday, India's core infrastructure output increased by 4% in December 2024, slowing from the 5.1% rise registered in the same month the previous year. The drop in growth momentum was also noticeable monthly. In November 2024, the expansion was 4.4%, indicating a minor decline in December. Natural gas production was one of the eight important infrastructure industries that had negative growth, adding to the overall slowdown. Coal, refinery products, fertiliser, and steel output growth have all slowed. Coal output increased by 5.3%, a decrease from 10.