Indian prime minister Narendra Modi welcomes Sheikh Mohammed bin Zayed, the Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, upon his arrival in New Delhi. EPA
Indian prime minister Narendra Modi welcomes Sheikh Mohammed bin Zayed, the Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, upon his arrival in New Delhi. EPA

Sheikh Mohammed bin Zayed arrives in India for state visit



NEW DELHI// Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, arrived in New Delhi on Tuesday evening for a three-day state visit to India.

He is the chief guest at the country’s 2017 Republic Day celebrations, which run from January 24 to 26.

Prime minister Narendra Modi personally received Sheikh Mohammed at the airport. The two leaders warmly embraced each other in what appeared to be a clear sign that India and the UAE are set to cement their strategic partnership during this visit. That could lead to increased bilateral cooperation in trade, energy supplies, defence and internal security-related matters.

A military contingent from the UAE will march in the Republic Day parade on January 26.

“Tomorrow is the official day of the visit. Sheikh Mohammed bin Zayed would be received at the forecourts of Rashtrapati Bhawan [Presidential Palace] where he will be given the ceremonial guard of honour. Tomorrow, he will also have a one-on-one meeting with the prime minister, which would be followed by delegation level talks at the Hyderabad House, where the prime minister and his cabinet team would be present,” said Amar Sinha, the secretary (economic relations) in the Ministry of External Affairs.

This, he said, will be followed by one-on-one meetings with India’s vice president, Mohammad Hamid Ansari, and the president, Pranab Mukherjee. On Wednesday, the prime minister will host a banquet lunch for Sheikh Mohammed, while the president will host the dinner banquet in his honour at the Presidential Palace.

India and the UAE could sign up to 16 agreements during the state visit. Among them would be a comprehensive strategic partnership agreement to set the tone for future dialogues, the officials said.

Sheikh Mohammed is accompanied by a high-level delegation that includes the Minister of Economy, Sultan Al Mansouri, other ministers, senior officials and captains of industry.

Mr Sinha said the UAE is the fifth-largest crude oil exporter to India and is set to remain a key partner.

“We are adding a new element to this relationship. The UAE has decided to become our strategic partner in the energy sector and will be both investing and filling up one of our strategic petroleum reserves,” said Mr Sinha.

Last week, the first India-UAE “strategic dialogue” was held in New Delhi, co-chaired by Dr Anwar Gargash, the Minister of State for Foreign Affairs, and M J Akbar, India’s minister of state for external affairs.

They discussed a number of issues ranging from cooperation in the areas of trade and investments to expanding the bilateral cooperation and new areas under the strategic partnership, including in areas of energy security and renewable energy, defence and security, electronics and information technology and space.

This will be the second visit of the Crown Prince to India since February last year. Bilateral ties have been on the upswing since Mr Modi’s official visit to Dubai and Abu Dhabi in August 2015.

“The two leaders are on course since then to elevate the relationship of their countries. UAE investments into Indian infrastructure development and anti-terrorism cooperation are the key areas of the expanding ties. On terror cooperation, the UAE has been very cooperative and prevented some of the Indian diaspora groups from joining the IS in Syria. There is high quality of intelligence cooperation between the two countries. Indian Islamist terror groups like Islamic Jihad and SIMI can no more use the territory of the Emirates for safe refuge, raising funds or transit,” Prasad Nallapati, the president of the Centre for Asia-Africa Policy Research, told The National.

India and the UAE have been among each other’s top trading partners, with bilateral trade of about US$50 billion (Dh184bn) in 2015 and 2016. The UAE is one of the leading investors in India in terms of foreign direct investments. It contributes significantly to India’s energy security and was the fifth-largest supplier of crude oil to India in those years.

During Sheikh Mohammed’s last state visit to India, the UAE had expressed its interest in investing in infrastructure development in the country, including railways, roads, ports and shipping. At the time, Mr Modi and Sheikh Mohammed welcomed the opening of D P World’s “smart port” Nhava Sheva in Mumbai and signed an agreement to expand the participation of Emirati investors in infrastructure projects in India.

Both sides described these developments as important steps towards reaching the $75bn target for UAE investments in India’s infrastructure development plans.

There are 2.6 million Indians in the UAE, forming the country’s largest expatriate community.

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Sri Lanka squad for tri-nation series

Angelo Mathews (c), Upul Tharanga, Danushka Gunathilaka, Kusal Mendis, Dinesh Chandimal, Kusal Janith Perera, Thisara Perera, Asela Gunaratne, Niroshan Dickwella, Suranga Lakmal, Nuwan Pradeep, Dushmantha Chameera, Shehan Madushanka, Akila Dananjaya, Lakshan Sandakan and Wanidu Hasaranga

Spec%20sheet
%3Cp%3E%3Cstrong%3EDisplay%3A%3C%2Fstrong%3E%204.7%22%20Retina%20HD%2C%201334%20x%20750%2C%20625%20nits%2C%201400%3A1%2C%20True%20Tone%2C%20P3%3Cbr%3E%3Cstrong%3EChip%3A%3C%2Fstrong%3E%20Apple%20A15%20Bionic%2C%206-core%20CPU%2C%204-core%20GPU%2C%2016-core%20Neural%20Engine%3Cbr%3E%3Cstrong%3ECamera%3A%3C%2Fstrong%3E%2012MP%2C%20f%2F1.8%2C%205x%20digital%20zoom%2C%20Smart%20HDR%2C%20Deep%20Fusion%3Cbr%3E%3Cstrong%3EVideo%3A%3C%2Fstrong%3E%204K%2B%40%2024%2F30%2F60fps%2C%20full%20HD%2B%40%2030%2F60fps%2C%20HD%2B%40%2030%20fps%3Cstrong%3E%3Cbr%3EFront%20camera%3A%20%3C%2Fstrong%3E7MP%2C%20f%2F2.2%2C%20Smart%20HDR%2C%20Deep%20Fusion%3B%20HD%20video%2B%40%2030fps%3Cbr%3E%3Cstrong%3EBattery%3A%3C%2Fstrong%3E%20Up%20to%2015%20hours%20video%2C%2050%20hours%20audio%3B%2050%25%20fast%20charge%20in%2030%20minutes%20with%2020W%20charger%3B%20wireless%20charging%3Cbr%3E%3Cstrong%3EBiometrics%3A%3C%2Fstrong%3E%20Touch%20ID%3Cbr%3E%3Cstrong%3EDurability%3A%3C%2Fstrong%3E%20IP67%2C%20dust%2C%20water%20resistant%20up%20to%201m%20for%2030%20minutes%3Cbr%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh1%2C849%3C%2Fp%3E%0A
Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

Company%20profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Fasset%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2019%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Mohammad%20Raafi%20Hossain%2C%20Daniel%20Ahmed%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%3C%2Fstrong%3E%20%242.45%20million%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2086%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20Pre-series%20B%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Investcorp%2C%20Liberty%20City%20Ventures%2C%20Fatima%20Gobi%20Ventures%2C%20Primal%20Capital%2C%20Wealthwell%20Ventures%2C%20FHS%20Capital%2C%20VN2%20Capital%2C%20local%20family%20offices%3C%2Fp%3E%0A
The past winners

2009 - Sebastian Vettel (Red Bull)

2010 - Sebastian Vettel (Red Bull)

2011 - Lewis Hamilton (McLaren)

2012 - Kimi Raikkonen (Lotus)

2013 - Sebastian Vettel (Red Bull)

2014 - Lewis Hamilton (Mercedes)

2015 - Nico Rosberg (Mercedes)

2016 - Lewis Hamilton (Mercedes)

2017 - Valtteri Bottas (Mercedes)

At a glance

Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.

 

Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year

 

Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month

 

Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30 

 

Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse

 

Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth

 

Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances

COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
Indoor cricket World Cup:
Insportz, Dubai, September 16-23

UAE fixtures:
Men

Saturday, September 16 – 1.45pm, v New Zealand
Sunday, September 17 – 10.30am, v Australia; 3.45pm, v South Africa
Monday, September 18 – 2pm, v England; 7.15pm, v India
Tuesday, September 19 – 12.15pm, v Singapore; 5.30pm, v Sri Lanka
Thursday, September 21 – 2pm v Malaysia
Friday, September 22 – 3.30pm, semi-final
Saturday, September 23 – 3pm, grand final

Women
Saturday, September 16 – 5.15pm, v Australia
Sunday, September 17 – 2pm, v South Africa; 7.15pm, v New Zealand
Monday, September 18 – 5.30pm, v England
Tuesday, September 19 – 10.30am, v New Zealand; 3.45pm, v South Africa
Thursday, September 21 – 12.15pm, v Australia
Friday, September 22 – 1.30pm, semi-final
Saturday, September 23 – 1pm, grand final