Search Result for : Gulf Nations

The Dollar Business Bureau Despite India’s offer to spend around $11 billion (about Rs.70,000 crore) for the development of Farzad B gas field in Iran and building the infrastructure for exporting the gas, Tehran had stated that it is under ‘no obligation’ for awarding the contract for the gas field to India, according to media reports.  New Delhi is willing to invest as long as Iran assures a “reasonable return” on the gas project. India’s state-run oil company ONGC Videsh Ltd has given the offer for investing around $6 billion in the Farzad-B gas field project and the remaining amount to spend in building a facility for liquefied natural gas (LNG) exports.  On the contrary, Iran has signed an agreement with Russian gas ...

The Dollar Business Bureau The livestock farmers in India have prodded the Government to initiate measures in order to resume the exports of eggs to Qatar, which is now buying the commodity from EU and US at higher prices after the Gulf nation was isolated by its neighbours.  Before 2008, India was meeting 80% of Qatar’s requirements for table eggs. However, after the outbreak of bird flu (avian influenza) in 2006 and 2008 in the northern region of the country, Qatar banned poultry products from India including eggs, according to the Livestock & Agri Farmers Trade Association. Despite norms set by the World Organisation of Animal Health (OIE) to remove the ban after a surveillance of 90 days and to allow imports from ...

The Dollar Business BureauIndia and Oman on Wednesday explored potential areas to enhance bilateral cooperation, as the navies from the two countries held meetings to discuss strategically important regional issues. Indian Navy Chief Admiral Sunil Lamba met Oman's Defence Minister Bader al Busaidi, Commander of Royal Navy of Oman and Rear Admiral Abdullah bin Khamis Al Raisi on the second-leg of his two-day visit to Oman. The two nations deliberated on bolstering engagement between their navies, amid the evolving security situations in the region. Lamba also met Chief of Royal Air Force of Oman Mattar Al Obaidani to jointly discuss the issues of strategic importance to both the countries. The Indian navy chief is will also visit the Sultan Qaboos Naval Academy and ...

The Dollar Business Bureau Prabhat Dairy, one of India's leading milk food processing brands, is planning to expand its supply operations in the Gulf region. It's participation in Gulfood 2017, held at the Dubai World Trade Centre, from February 26 – March 2, is key to the beginning of its exports to countries like UAE and Saudi Arabia. The world's largest annual trade event in food industry is likely to help Prabhat Dairy rope in some international clients from Dubai and surrounding areas, kickstarting its operations in the Gulf region. The dairy giant with an elaborate distribution network across India sees immense potential in exports to Saudi Arabia, as the country imports close to 70% of its dairy needs. According to latest trade reports, in 2015, ...

The Dollar Business Bureau The Federation of Overseas Recruitment Associations of India (FORAI) has requested the government to scrap the minimum referral wages (MRWs) directive to foreign employers as, they said, it has negatively impacted the manpower export industry. Recently, the foreign ministry had finalised MRWs for different nations in the Gulf countries and others. The ministry also wanted the host employers to provide free accommodation, food, medical facilities, transportation and applicable overtime wages. "Though well-intentioned, the MRWs are totally at gross variance with the ground reality in the Gulf region and it needs to be scrapped forthwith," said Forai Chairman V S Abdul Kareem. Kareem highlighted that recruitment of Indians in the Gulf region has declined by over 50%, and the number of emigration clearances ...

The Dollar Business Bureau Kuwait's Finance Minister on Monday said the country has reported a budget deficit of $18.2 billion for the previous financial year as the lower crude prices has given a major hit to the oil-exporting country’s economy. The acting coal minister Anas al-Saleh said to the state-run Kuwait News Agency that the deficit was nearly $9 billion less than the government had earlier budgeted for. The new financial year in Kuwait began on April 1. Kuwait's budget deficit signals the negative impact the lower crude prices have had on major oil-exporting economies, in particular the Gulf countries, which heavily rely on oil revenues to support their generous subsidies, public sector wages and welfare benefits. Al-Saleh said Kuwait is facing serious challenges that require ...