Author: Dr Issac PJ
The UAE and India have reaffirmed their strategic economic partnership with a bold outlook for bilateral trade, even as global headwinds, shifting supply chains, and punitive US trade tariffs create uncertainty for emerging economies. The message from Mumbai, where UAE Minister of Foreign Trade Dr Thani bin Ahmed Al Zeyoudi met Indian counterpart Piyush Goyal and senior business leaders, was clear: The Comprehensive Economic Partnership Agreement (Cepa) has turned into a resilient engine of growth that can withstand external turbulence. Non-oil trade between the UAE and India reached $37.6 billion in the first half of 2025, marking a 33.9 per cent rise…
Global oil prices are increasingly facing downward pressure as supply outpaces demand and traders weigh the impact of shifting geopolitical and trade dynamics.With the summer consumption peak behind and fresh supply entering the market from Opec+ and non-Opec producers, analysts expect Brent crude and West Texas Intermediate (WTI) prices to weaken further into the final quarter of 2025 and the early part of 2026.For consumers, lower prices may ease inflationary pressures, particularly in energy-importing nations. But for producers, the outlook underlines a prolonged period of tighter margins and heightened competition. Unless demand surprises to the upside or geopolitical disruptions persist,…
Dubai’s economy has entered 2025 on an impressive trajectory, consolidating its reputation as one of the world’s most dynamic investment hubs. The emirate’s gross domestic product in the first quarter of 2025 reached Dh119.7 billion, marking a 4% increase compared with the same period last year. Key drivers included finance and insurance, accommodation and food services, information and communications, wholesale and retail trade, and real estate. The broader UAE economy is expected to expand between 5% and 6% this year, supported by a diversified growth strategy, healthy oil market dynamics, and a thriving non-oil sector projected to grow 4.5%. The…
The decision by President Donald Trump to slap an additional 25 per cent duty, taking the cumulative levy on Indian goods to 50 per cent, has been met with strong criticism in New Delhi and concern among key industries. Yet, far from being a setback, the move may serve as a wake-up call for India to accelerate structural reforms, expand its export markets, and lean further into its role as one of the world’s most dynamic growth engines. Former Niti Aayog CEO and G20 Sherpa Amitabh Kant struck a chord when he described the US action as “ironical” and cautioned that this…
The Middle East and North Africa’s startup ecosystem is in the midst of a record-breaking year, with the UAE and Saudi Arabia firmly at the centre of the action. In just seven months of 2025, total funding has already surpassed the entire haul of 2024, underlining how these two Gulf economies have become magnets for venture capital and entrepreneurial talent.According to Wamda’s latest monthly report, funding across Mena reached $783 million in July alone, spread across 57 deals — a 1,411 per cent increase from June and more than double the total of July 2024. The first half of 2025…
As punitive US tariffs of up to 50 per cent on Indian goods took effect on Wednesday, the fourth-largest global economy confronted its sharpest trade test in years. Yet, despite alarm in trade circles, analysts and policymakers argue that the disruption will be temporary and unlikely to derail India’s long-term growth trajectory. The world’s fastest-growing major economy, they insist, has both the resilience and the momentum to weather the turbulence and emerge stronger. India’s ability to withstand shocks rests on lessons from its recent past. After the pandemic-induced collapse, the economy rebounded with 9.2 per cent growth in FY24 before…
In a move set to transform the region’s digital finance landscape, O Gold, the UAE’s first Emirati app for fractional gold and silver ownership, has partnered with Botim, Astra Tech’s flagship AI-powered fintech and communications platform, to launch the Middle East and North Africa’s first integrated gold investment feature. The rollout, which follows an agreement signed in 2023, makes Botim the first fintech ecosystem in the Mena region to offer gold investment capabilities directly through its app. With more than 8.5 million active users in the UAE alone, Botim’s expansion into digital gold trading marks a significant milestone in the…
The global oil market is bracing for what the International Energy Agency (IEA) warns could be the biggest supply glut since the pandemic, with crude inventories projected to swell through late 2025 and early 2026. On Thursday, Brent crude futures were close to a two-week high and up 43 cents, or around 0.6 per cent, at $67.27 a barrel at 1203 GMT. US West Texas Intermediate (WTI) crude futures were up 45 cents, or 0.7 per cent, at $63.16 a barrel. Both contracts climbed over 1 per cent in the prior session. The draw signals resilient demand, yet gains remain…
The Central Bank of the UAE (CBUAE) has significantly expanded its gold holdings, underscoring the precious metal’s growing strategic importance in the nation’s financial reserves at a time of global economic uncertainty.According to the regulator’s latest statistical bulletin, the UAE’s gold reserves rose 25.9 per cent in the first five months of 2025 to Dh28.93 billion ($7.9 billion). On a monthly basis, the central bank reported a modest 0.49 per cent increase in May, with holdings climbing to Dh28.79 billion compared to Dh28.65 billion at the end of April. The consistent accumulation highlights the regulator’s strategy of diversifying assets away…
India has taken a decisive step in reshaping the global currency order by enabling Brics nations to settle all their trade in Indian rupees, a move analysts believe could gradually erode the supremacy of the US dollar in international markets.The Reserve Bank of India (RBI) this week issued a circular instructing banks to allow exporters and importers from Brics and other partner countries to conduct transactions entirely in rupees through special vostro accounts, without requiring prior approval. This is the first time India has opened the door for rupee-denominated trade at such scale. A vostro account is a domestic account…