United Arab Emirates NEWS
India ties up with UAE for Africa development projects
- Deccan Herald
India and the UAE
also inked a currency swap agreement after Sushma's meeting with Sheikh Abdullah. India-UAE
development cooperation in Africa will see Abu Dhabi and New Delhi jointly working on projects to build infrastructure in the continent.
India, UAE review bilateral ties, to work together in Africa
- The Quint
In the meeting, co-chaired by External Affairs Minister Sushma Swaraj and United Arab Emirates
) Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan, both sides reviewed the entire scope of bilateral ties and took stock of the developments in the ...
3500-Crore Currency Swap Pact With UAE
Bilateral trade between the two countries stood at around $52 billion in 2017, according to figures from the Indian embassy in the UAE
. In 2015, China's central bank extended a currency swap agreement with the UAE
Central bank worth $5.54 billion.
UAE and India sign Rs 3500 crore currency swap agreement
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 Rs 3,500 crore ($496 million), ...
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The United Arab Emirates (UAE; Arabic: دولة الإمارات العربية المتحدة Dawlat al-ʾImārāt al-ʿArabīyyah al-Muttaḥidah), sometimes simply called the Emirates (Arabic: الإمارات al-ʾImārāt), is a country in Western Asia at the southeast end of the Arabian Peninsula on the Persian Gulf, bordering Oman to the east and Saudi Arabia to the south, as well as sharing maritime borders with Qatar to the west and Iran to the north. The sovereign absolute monarchy is a federation of seven emirates consisting of Abu Dhabi (which serves as the capital), Ajman, Dubai, Fujairah, Ras al-Khaimah, Sharjah and Umm al-Quwain. Each emirate is governed by a ruler; together, they jointly form the Federal Supreme Council. One of the rulers serves as the President of the United Arab Emirates. In 2013, the UAE's population was 9.2 million, of which 1.4 million are Emirati citizens and 7.8 million are expatriates.Human occupation of the present UAE has been traced back to the emergence of anatomically modern humans from Africa some 125,000 BCE through finds at the Faya-1 site in Mleiha, Sharjah. Burial sites dating back to the Neolithic Age and the Bronze Age include the oldest known such inland site at Jebel Buhais. Following decades of maritime conflict, the coastal emirates became known as the Trucial States with the signing of a Perpetual Treaty of Maritime Peace with the British in 1819 (ratified in 1853 and again in 1892), which established the Trucial States as a British Protectorate. This arrangement ended with independence and the establishment of the United Arab Emirates on 2 December 1971, immediately following the British withdrawal from its treaty obligations. Six emirates joined the UAE in 1971, the seventh, Ras al-Khaimah, joined the federation on 10 February 1972.Islam is the official religion and Arabic is the official language of the UAE. The UAE's oil reserves are the seventh-largest in the world while its natural gas reserves are the world's seventeenth-largest. Sheikh Zayed, ruler of Abu Dhabi and the first President of the UAE, oversaw the development of the Emirates and steered oil revenues into healthcare, education and infrastructure. The UAE's economy is the most diversified in the Gulf Cooperation Council, while its most populous city of Dubai is an important global city and an international aviation and maritime trade hub. Nevertheless, the country is much less reliant on oil and gas than in previous years and is economically focusing on tourism and business. The UAE government does not levy income tax although there is a system of corporate tax in place and value added tax was established in 2018 at 5%. The UAE's rising international profile has led to it being recognised as a regional and middle power. It is a member of the United Nations, the Arab League, the Organisation of Islamic Cooperation, OPEC, the Non-Aligned Movement and the Gulf Cooperation Council.
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