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India emerges as Dubai’s second biggest trade partner

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India emerges as Dubai’s second biggest trade partner

Trade with India increased by 74.5% year-on-year to AED 67.1 billion According to official data released on Sunday, India has become Dubai’s second largest trading partner after China, with a total trade volume of 38.5 billion dirhams in the first half of 2021. According to a statement from the Dubai government, the emirate’s trade with China in the first half of 2021 (first half) was AED 86.7 billion, followed by India and the United States, ranking third. Trade with India increased by 74.5% year-on-year, from AED 38.5 billion in the first half of 2020 to AED 67.1 billion. India and UAE officially launch CEPA negotiations The total trade volume between China and Dubai reached AED 66.3 billion in the first half of 2020, a year-on-year increase of 30.7%. In the first half of 2021, the transaction volume between the United States and Dubai was 32 billion dirhams, an increase of 1% from the 31.7 billion dirhams in the same period of the previous year.

Saudi Arabia ranked fourth with 30.5 billion dirhams, an increase of 26% over the first half of 2020, followed by Switzerland with 24.8 billion dirhams. In the first half of 2021, the total share of the five largest trading partners was 241.21 billion dirhams, compared with 185.06 billion dirhams in the first half of 2020, an increase of 30.34%. Gold top Gold ranked first among Dubai’s foreign trade commodities in the first half of the year with 138.8 billion dirhams (19.2% of Dubai’s trade), followed by telecommunications with 94 billion dirhams (13%). Expo 2020 Dubai: India plans to fight back against Covid-19 and become a global business center Diamonds ranked third with 57.3 billion dirhams (8%), followed by jewelry with 34.1 billion dirhams (4.7%) and auto trade 28 billion dirhams (4%).

Dubai’s non-oil foreign trade surged 31% in the first half of 2021, from AED 550.6 billion in the same period in 2020 to AED 722.3 billion. In the first half of 2021, exports increased by 45% year-on-year, from 75.8 billion dirhams to 109.8 billion dirhams.

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This supports the 10 x 10 plan (one of the country’s “Top 50 Projects” plans) to increase exports from the UAE The global market grows by 10% annually to 10%. Imports increased by 29.3% year-on-year, from AED 320 billion to AED 414 billion. Re-exports increased by 28.3% year-on-year, from AED 154.79 billion to AED 198.6 billion. The expansion of the sea. Air network Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Committee, stated that Dubai has consolidated its position as one of the fastest growing business centers in the world. “Dubai’s existing air and sea network will be expanded to cover 200 new cities around the world. We are confident that we will continue to consolidate our growth momentum to achieve our ambitious sustainable development projects and plans,” he said.

News Source : Backtrack

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Stock market in red amid India’s diplomatic action against Pakistan

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Stock market in red amid India’s diplomatic action against Pakistan

The stock market opened in red on Thursday, with the Sensex trading below 187.91 points and the Nifty below 46.45 points. The 30-share Sensex rose by 520.90 points or 0.65% to settle at 80,116.49, the highest closing level since December 18. Eight of the 13 major sectors declined at the open, while the broader, more domestically focused small-caps and mid-caps traded flat.

Ajay Bagga, market expert, said that the overhang remains for the next 10 to 15 days, the time it took in the previous two instances from the terrorist strike to the retaliatory Uri and Balakot strikes. On Wednesday, stock markets extended their surge to the seventh day, with Sensex share jumping 520 points to close above 80,000 level for the first time in four months.

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The stock market closed in green for the 7th day on Wednesday, with the 30-share Sensex rising by 520.90 points or 0.65% to settle at 80,116.49, the highest closing level since December 18. During the day, it surged by 658.96 points or 0.82 per cent to 80,254.55. The NSE Nifty rallied 161.70 points or 0.67 per cent to 24,328.95. HCL Tech surged the most by 7.72 per.

Cent after posting an 8.1% increase in consolidated net profit at ₹4,307 crore for March quarter 2024-25, mainly on account of large deals with a total contract value of about ₹25,500 crore. Kotak Mahindra Bank, State Bank of India, Axis Bank, ITC, and UltraTech Cement were also among the laggards, according to PTI Both the Sensex and Nifty reversed their seven-day.

Uptrend and settled lower on Thursday, amid profit-taking and disappointing Q4 earnings of Hindustan Unilever. Selling in blue-chips ICICI Bank, Bharti Airtel, and a largely muted trend in Asian and European equities also dragged the markets down, PTI reported. In the past seven trading days, the BSE benchmark gauge zoomed 6,269.34 points or 8.48 per cent, and the Nifty.

jumped 1,929.8 points or 8.61 per cent ​Indian stock markets experienced significant declines on April 25, 2025, amid escalating geopolitical tensions with Pakistan following a deadly militant attack in Pahalgam, Kashmir, which resulted in 26 civilian deaths. The BSE Sensex fell by 1,195 points during intraday trading, closing 570.8 points lower at 79,227, while the NSE.

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The market downturn was driven by widespread losses across sectors, with 12 out of 13 major indices ending in the red. Broader markets were also affected, as mid-cap and small-cap Nifty50 dropped 207.3 points to settle at 24,039 indices declined over 2%. Investor sentiment was further dampened by India’s strong diplomatic response to the attack, which included.

suspending the Indus Waters Treaty, closing the Attari border crossing, and revoking visa privileges for Pakistani nationals The Indian rupee weakened, closing 0.2% lower at 85.45 against the U.S. dollar, influenced by month-end dollar demand and increased geopolitical uncertainty. Bond yields also rose, reflecting heightened risk aversion among investors

Analysts caution that the ongoing tensions between India and Pakistan could continue to impact market stability. While a full-scale conflict is considered unlikely, the situation remains fluid, and investors are advised to monitor developments closely In Pakistan, the Karachi Stock Exchange’s KSE-100 index fell by 2.12%, or 2,485.85 points, as investors reacted to India’s.

The United Nations has urged both nations to exercise restraint and resolve their differences through peaceful dialogue diplomatic measures and the suspension of the Indus Waters Treaty Indian stock markets slipped into the red on April 25, 2025, following India’s strong diplomatic actions against Pakistan after a deadly terrorist attack in Kashmir. The BSE Sensex.

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