Al Ramz acquires market-making business of Shuaa Capital

Dubai: UAE-based Al Ramz Corporation Investment & Development said on Thursday that it acquired the market-making business of Shuaa Capital for an undisclosed amount. The deal will see all staff and market-making activities transferred to Al Ramz, the company said in a statement. “The sale of the equities market-making business to Al Ramz is in […]

India’s import curbs deal big blow to Malaysian palm oil

KUALA LUMPUR: India’s move to restrict palm oil imports from Malaysia will create a huge challenge for the world’s second biggest producer of the edible oil as India has been its top market for the past five years. India, the world’s largest buyer of edible oils, last week restricted imports of refined palm oil and […]

Paras Shahdadpuri of Nikai Group: Former Indian diplomat, now UAE billionaire

Dubai: From being a seasoned diplomat, Paras Shahdadpuri – chairman, Nikai Group of Companies – decided to change the course of his career at 42, something many may not have the courage to do. Shahdadpuri, now 75, last served in the Indian mission as an Economic and Commercial Head in Libya before he decided to give […]

India has not closed door on China-backed Asian trade deal -foreign minister

NEW DELHI: India has not closed the door on a China-led regional economic pact, even though Asia’s third-largest country pulled out of the deal last November, Foreign Minister Subrahmanyam Jaishankar said on Wednesday. In November, China joined 14 countries in agreeing terms for the Regional Comprehensive Economic Partnership (RCEP), with India pulling out at the […]

Blockchain could help UAE save over $3b a year: Report

Dubai: The UAE could save over $3 billion (Dh11 billion) through implementing advanced blockchain technology, according to a report. A paper by the Centre for the Fourth Industrial Revolution, Dubai Future Foundation, and the World Economic Forum said that the UAE government can eliminate 398 million printed documents and 77 million work hours a year […]