Author: Dr Issac PJ

Sukuk issuance is gaining renewed momentum globally, with the GCC countries emerging as the dominant force behind market expansion, driven by strong economic activity, rising financing needs and increasingly supportive market conditions.  According to S&P Global Ratings, total global sukuk issuance climbed to $264.8 billion in 2025, up from $234.9 billion in 2024, marking a year-on-year increase of 12.7 per cent and underscoring the growing importance of Islamic finance in global capital markets.The increase was fuelled by robust issuance activity in core Islamic finance markets, particularly Saudi Arabia, the UAE and Bahrain, alongside Malaysia and Türkiye. Foreign currency-denominated sukuk exceeded…

The Indian rupee has been grinding lower, repeatedly testing record lows near Rs92 per $1, and dragging the dirham rate close to Rs25 per Dh1 for UAE-linked travellers, students, importers and remitters.The latest moves have been choppy rather than one-way, explains a currency expert. On January 27, the rupee firmed slightly as the dollar softened and markets drew comfort from trade-deal optimism, after touching fresh lows earlier.Still, the broader story remains clear: the rupee’s downtrend is being driven less by one “big bang” event and more by a pile-up of pressures — global rates, foreign money leaving, a high import…

India’s Finance Minister Nirmala Sitharaman will present the Union Budget for 2026–27 on February 1, marking her ninth consecutive budget and the third full budget of the National Democratic Alliance (NDA) 3.0 government.Coming against the backdrop of resilient economic growth, global trade uncertainty and rising expectations from households and businesses, this budget is being seen as a crucial policy signal and fiscal reset for India’s medium-term growth path. For income taxpayers, NRIs and investors, the focus is likely to be on tax relief, capital market stability, export competitiveness and fiscal discipline.Growth backdrop and revenue mathThe world’s fourth-largest economy, which is…

The global airline industry is entering a new growth phase, with the UAE, India and Saudi Arabia emerging as its main drivers as profits recover, travel demand surges and aircraft shortages tighten supply.Airlines are expected to earn about $41 billion in 2026, marking a fourth straight year of profitability and signalling a decisive break from the pandemic-era downturn, according to forecasts from aviation lessor Avolon.The sector has already recovered more than 80 per cent of the $182 billion lost during Covid-19. Now the focus has shifted to expansion. India, the UAE and Saudi Arabia together hold aircraft orders exceeding 3,000…

India stands at a defining moment in its modern economic and geopolitical journey as the world’s most populous nation marks its 77th Republic Day. From a newly independent democracy in 1950 to a rising global powerhouse in 2026, India’s transformation has become one of the most compelling development stories of the 21st century. At a time when the world economy is grappling with slowing growth, geopolitical fragmentation and shifting trade alliances, India is emerging not only as a rare engine of economic momentum but also as an increasingly influential diplomatic, cultural and strategic force.A republic in motionThe world’s most populous nation…

India’s economy is on a super-charged trajectory, accelerating at a pace few large nations can match and placing it firmly on track to cross the $5 trillion threshold and overtake Germany to become the world’s third-largest economy within the next few years. The milestone will carry immense symbolic weight, reinforcing India’s arrival as a major global economic force. Yet behind the celebratory headlines lies a more demanding question: can this surge in national output translate into higher incomes and better living standards for more than 1.4 billion people? The uncomfortable arithmetic is that “third-largest” can easily coexist with “low income per person”…

Gold blasted through the $5,000-an-ounce barrier for the first time, extending an extraordinary rally that has gripped global markets as investors seek refuge from geopolitical turmoil and financial uncertainty. Bullion climbed as much as 2 per cent to above $5,085, propelled by a softer dollar and persistent fears over fiscal sustainability and policy volatility.In the UAE, retail gold prices followed suit – with 24-carat gold trading around Dh601 per gram and 22-carat at about Dh556.50 per gram on Monday, reflecting the strongest global cues driving local markets. These levels underscore the relentless ascent in bullion demand as buyers weigh jewellery purchases against…

Investor capital is becoming more targeted in Dubai’s commercial property market as rising rents, tighter supply and regulatory stability reshape portfolio strategies for 2026.Off-plan offices, logistics hubs and community retail centres are emerging as the preferred asset classes, reflecting a shift toward income stability and long-term fundamentals rather than speculative volume-driven buying.Dubai Land Department (DLD) data shows the emirate’s total real estate transactions crossed Dh760 billion in 2025, with commercial and industrial assets accounting for an estimated Dh90 billion to Dh100 billion of deal value, underscoring growing institutional and private investor interest beyond the residential segment. Transaction volumes in business…

A looming seat shortage on the UAE-India air corridor is setting the stage for sustained airfare pressure, threatening to leave millions of travellers unserved and slow the economic momentum generated by one of the world’s busiest international aviation markets.Rising demand is on track to outstrip available capacity over the next decade, according to new analysis by Tourism Economics, an Oxford Economics company. If current limits remain unchanged, about 27 per cent of forecast passenger demand between the two countries could go unmet by 2035. That would translate into a cumulative shortfall of roughly 54.5 million passenger journeys between 2026 and…

India and the European Union are closing in on a long-elusive free trade agreement that leaders on both sides have branded the “mother of all deals”, a mega-pact they hope will anchor market access and strategic trust as President Donald Trump’s tariff threats inject fresh volatility into global commerce.European Commission President Ursula von der Leyen and European Council President António Costa are in New Delhi ahead of the 16th EU-India Summit on January 27, when officials expect an announcement that negotiations are being concluded — even if signatures come later.EU officials have said the objective is to complete talks, but…