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United Arab Emirates

UAE and India sign 35 billion rupees currency swap agreement

ABU DHABI: India and the United Arab Emirates on Tuesday signed a currency swap agreement to boost investment and enable direct trade without using dollars or other international currencies. The swap is for 2 billion dirhams or 35 billion Indian rupees ($496 million), depending on which central bank requests the amount, an Indian embassy statement said. “The bilateral currency swap agreement between India and the UAE is expected to reduce the dependency on hard currencies like the U.S dollar,” the statement said,…

Prime minister felicitates UAE on its 47th National Day

ISLAMABAD: Prime Minister Imran Khan has felicitated United Arab Emirates (UAE) on its 47th National Day, ARY News reported on Sunday. In his felicitation message, the prime minister, has said relations between both the countries are based on mutual support and cooperation. “The development, prosperity and good governance of United Arab Emirates is an example for the world which is achieved in short period of 47 years,” PM maintained. He said that it is a matter of confidence that relations between the two…

UAE plans to provide long-term renewable visa

DUBAI: The United Arab Emirates (UAE) will offer long-term visas to rich property investors, senior scientists and entrepreneurs in an effort to support its economy and real estate market, which have been hurt by low oil prices. Until now, visas for foreigners to live in the Arab world’s second biggest economy have generally been valid for only a few years, and have depended on the main visa holder in each family remaining employed. The government said in May it planned to ease that policy. Detailed rules approved by…

Imran Khan urges UAE central bank to disclose non-residents’ accounts details

ISLAMABAD: Declaring Iqama a kind of protection and safe passage, Pakistan Tehreek-e-Insaf (PTI) chairman Imran Khan on Thursday urged United Arab Emirates (UAE) Central Bank to disclose all details of  'non-residents’ account holders under the international agreements. Panama Papers probe, in its final report, revealed Prime Minister Nawaz Sharif’s employment with an Emirate-based firm as chairman. Soon after the JIT’s startling revelation, the work permits of Finance Minister Ishaq Dar, Defence Minister Asif…

Kolkata Knight Riders denies reports of series against Peshawar Zalmi

MUMBAI: Indian Premier League (IPL) franchise Kolkata Knight Riders (KKR) on Thursday denied that it proposed a three-match series against current Pakistan Super League (PSL) Champions Peshawar Zalmi. According to media reports earlier, KKR owner Shah Rukh Khan had contacted Peshawar Zalmi owner Javed Afridi and proposed a three match series between the two teams. KKR CEO Venky Mysore, however, said, "There is absolutely no truth in it. We categorically deny this." Mysore added, "I just had a word with Shah Rukh and…