India and the United States have recently signed a significant logistics defence agreement that will empower militaries of both the countries to utilize each others’ assets and bases to repair and replenish the supplies for making joint operations more efficient. Indian Defense Minister Manohar Parrikar and the United States’ Defense Secretary Ashton Carter have signed the “Logistics Exchange Memorandum of Agreement” (LEMOA) and have assured that it will facilitate opportunities for “practical engagement and exchange”. The transparency was maintained about the fact that the recip
OYO rooms, more commonly known as OYO, have extended its presence in the Chinese economy. This expansion is the third overseas expansion after Malaysia and Nepal for the Gurugram-based startup. OYO is an Indian hospitality service and budget hotel network, founded by Ritesh Agarwal in 2013 and is exploring the two big markets of India and China, alongside other Eastern countries like Indonesia. It is also set to take its enterprise in United Arab Emirates. In September 2017, OYO had signed a 5 year MoU with the China Lodging Group to facilitate and strengthen collaboration in order to build a
Expanding the aerial reach of the continent, East African countries are all making headway in the airlines industry. While Uganda is all set to reintroduce its national airline, carriers in Tanzania and Rwanda are also amplifying their presence. Kenya is also expected to raise its capital in Kenya Airways, where the government has 29 per cent shares. The Airlines is also reestablishing itself for a better outcome. Yoweri Museveni, Uganda’s President said in a cabinet meeting that he wishes to revive the airline that went bankrupt earlier in the year 2001. He said that at the present time, U
Majid Al Futtaim, the leading retail and Hospitality Company of The Middle East and North Africa, announced an investment increase of Dh30 billion over the next ten years in the UAE. Apart from strengthening the economic state of the Emirate, this investment will also boost up the retail sector of the country which is growing rapidly in the present time. In this mega investment, this flourishing conglomerate plans to develop 10 new state-of the-art shopping malls under its City Centre brand, six hotels, a mixed-use community, 28 cinemas and 40 Carrefour outlets as well as expand six existing
In Dubai’s biggest bank – Emirates NBD has announced to invest AED500 million ($136 million) for the digital innovation and multi-channel transformation of its processes, products and services. The investment will take place over a span of next three years to support UAE’s ‘Smart City’ vision. This step is a benchmark in the Dubai’s digital transformation and shows that in the coming years, Emirates NBD will rise as a prominent leader in global digital banking industry. The bank also plans to launch the UAE’s first digital bank targeted at millennials to offer customers the next
In a successful attempt to establish peaceful and improve trade relations between India and Morocco, a chamber of commerce was launched in Rabat, capital of Morocco on 31st May 2016. The India–Morocco Chamber of Commerce and Industry (IMCCI) was introduced by Vice President of India Hamid Ansari and Moroccan Prime Minister Abdelilah Benkirane. Esteemed members and officials from both the countries were present at the event. The motto of this launch was ““Shake hands, strengthen ties, go with IMCCI” which clearly reflected the need of a mutually beneficial commercial relationship betwee
Afghanistan has won formal approval to join the World Trade Organisation in a move the U.S.-backed government hopes will help lift its war-shattered economy and create jobs in one of the world’s poorest countries. Afghanistan has till June 30 to ratify the agreement, the final step before becoming a full member of the organisation that underpins the global system of international trade. According to a speech given by Afghanistan’s Deputy Chief Executive Mohammad Khan Rahmani in Nairobi, he stated that the trade-led growth will create new economic opportunities and jobs, especially for wom
With the historic agreement made between Iran and the P5+1 countries in Vienna on 14 July 2015, Iran will hopefully transform into a peaceful State to live in, and the rest of the world will breathe easy without the nuclear power threat from Iran. This pact officially brings the end of the economic sanctions on Iran after demonstrating a peaceful nuclear research project that meets International Atomic Energy Agency (IAEA) standards. Iran has assured that it does not seek nuclear arms but demands the ability to enrich uranium to make nuclear fuel for energy-producing reactors and medical appli
With a promise of million dollar investment in India, United Arab Emirates, the business capital of the world is all set to plant its investment seeds in one of the fastest growing economies of the world Indian Prime Minister, Narendra Modi’s two day visit to the UAE captivated the well-heeled Emirates to commit an investment target of $75 billion. As professed by Modi’s political stage last year, he is definitely not leaving any stone unturned which can help India emerge as an economical powerhouse with assured development across sectors. Strengthening the Indo-UAE bond Both the nations
The Syrian war started in 2011 when antigovernment demonstrations – part of the Arab Spring – turned violent and a fight broke between the rebels and the regime. More than 11 million people have been displaced because of the war, as Syrians have been fleeing in thousands every day to escape bombing and being killed. However, it took the world four years to take a shocking note of the refugee crisis, when the lifeless body of Alan Kurdi – the three-year-old Syrian boy – was found on the Turkish shore of the Mediterranean Sea. The war is getting worse and deadlier day-by-day, with Douma