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PTI  Indians have emerged the top foreign property investors in Dubai, spending over $3.2 billion last year alone, according to the Dubai Land Department. The total real estate investments last year reached Dh91 billion ($2.4bn) from 55,928 investors and Indians were ranked highest in terms of both volume and value among foreign investors with Dh12 billion ($3.2 bn) worth of property transactions from 6,263 buyers. In an effort to attract more investments from Indians, the 13th edition of the International Property Show will be held from April 2-4 this year. "The UAE's safe haven status, stable economic growth and bottomed out prices have been the key factors for attracting Indian realty investments in Dubai. In addition, many Indians find Dubai as ...

The Dollar Business Bureau (sourced from PTI) A UAE-based hospitality and leisure firm has said it will strengthen its presence in the Gulf region by appointing more sale representatives and travel partners for promoting 'Kerala Golden Trio'.A first-of-its-kind initiative 'Kerala Golden Trio' by Fragrant Nature Resorts has been launched for the visitors from the Gulf Cooperation Council (GCC) region."The culturally discerning can experience old world charm at Fragrant Nature Fort Kochi, just off the commercial capital of Kerala, to start their journey. They can then head to Fragrant Nature Munnar, a prized jewel in the Western Ghats, for a hill resort experience with unmatched views of misty hills, valleys and tea plantations. The visitors will then head to Fragrant Nature Backwater ...

Sharath Chowdary  Indian restaurant chain Barbeque Nation is planning to expand its stores globally. It is going to begin with a store in Dubai and soon plans to open restaurants in few Gulf Cooperation Council (GCC) and South Asian Association for Regional Co-operation (SAARC) countries, Barbeque Nation Hospitality Ltd CEO Sameer Bhasin told The Dollar Business Bureau.  Sameer said, “After a successful journey in Indian cities over the last ten years, the company is all set to popularise its casual dining-out brand worldwide. There is a lot of demand for Indian food in GCC and SAARC countries. The Non-Resident Indians (NRIs) who live in these regions appreciate our cuisines. We would like to introduce our brand in global markets.”  Speaking about the restaurant brand, he ...

Source: PTI Anticipating pick-up in demand in construction and road sector in the GCC region, industrialist Naveen Jindal feels Jindal Shadeed Iron and Steel (JSIS) with its 1.4 MTPA rebar facility is all set to take advantage of the $6 billion market opportunity in the region. JSIS, a subsidiary of the steel-to-power group Jindal Steel and Power (JSPL), has invested $1.2 billion to set up a 2 million tonne per annum (MTPA) steel melting shop and a 1.4 MTPA rebar mill at the industrial port city of Sohar in Oman. The firm, which boasts of the third largest steel plant in the GCC, hopes to beat competition from China and other steel-surplus nations to get a significant pie in the region’s ...

Axis Bank caters to NRIs through its offices in the UAE offers automated remittance processing engine Source: PTI Axis Bank has its presence in Singapore, Hong Kong DIFC - Dubai, Colombo and Shanghai, Representative Offices at Dubai & Abu Dhabi and Dhaka   Axis Bank has announced its ambitious plans to further strengthen its remittance offering in the Gulf Cooperation Council (GCC) region by providing new channels of money transfer to existing NRI customers. "The Bank continues to expand its partner network across the GCC region with specific focus on getting into more arrangements with Correspondent Banks while continuing to actively manage our large existing exchange house relationships," said Rajiv Anand, group executive & head, retail banking at Axis Bank. Anand said that this has ...

The Dollar Business Bureau Department of Industrial Policy and Promotion invited Gulf businessmen and investors to tap the huge potential of investment opportunities in India     Offering investment opportunities up to $1 trillion, India has asked businessmen form oil-rich GCC (Gulf Cooperation Council) countries to explore more potential for bilateral collaborations, especially in energy and infrastructure sectors. “India needs $1 trillion worth investments within the coming five years, especially in the infrastructure sector,” said Ravneet Kaur, Joint Secretary in the Department of Industrial Policy and Promotion (DIPP) under the Ministry of Commerce. Addressing the 4th GCC-India Industrial Forum in Saudi Arabia on Thursday,  Kaur invited Gulf businessmen and investors to tap the huge potential of investment opportunities in India and ...

Source: PTI Remittances to India are projected to increase by 2.5% this year, the World Bank has said in its latest report, even as weak economies in Europe, especially Russia, are slowing the growth of remittance flows. In 2014, India is estimated to have received remittances worth $70.3 billion. In its latest report, the World Bank said remittances to India, South Asia's largest economy and the world's largest remittance recipient, are projected to increase by 2.5% in 2015, below the regional average but well above the 0.6% increase in 2014. "Stronger remittance growth in India reflects improving economic prospects in the United States and continued fiscally-supported economic resilience in the GCC (Gulf Cooperation Council)," the World Bank said. According to the Reserve ...

The Dollar Business Bureau Reliance Defence Limited (RDL), a subsidiary of Reliance Infrastructure Limited, has signed an agreement with Abu Dhabi Ship Building (ADSB) for the setting up of a strategic partnership for the construction of naval ships to cater to the demands of the Gulf Cooperation Council over the next 10 years. “Under this MoU, RDL and ADSB are investigating the opportunity to set up a strategic partnership for the construction of naval ships, including frigates, destroyers and other specialised vessels to address the Gulf Cooperation Council (GCC) over the next 10 years. “The agreement could also see ADSB delivering maintenance repair, overhaul and refit services to the vessels, in line with regioan requirements," the Anil Ambani-led firm said in ...