Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Indian Prime Minister Narendra Modi during a previous official visit. Reuters
Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Indian Prime Minister Narendra Modi during a previous official visit. Reuters
Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Indian Prime Minister Narendra Modi during a previous official visit. Reuters
Insight and opinion from The National’s editorial leadership
February 19, 2022
An online summit on Friday between Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, and Indian Prime Minister Narendra Modi broke new ground in economic links between the Gulf and the Indian subcontinent. Both leaders might have been separated by a great physicaldistance, but the overall impression was one of the two countries coming closer together. The summit culminated in the signing of an 881-page UAE-India Comprehensive Economic Partnership Agreement (CEPA).
“The fact that we were able to agree the terms of a deal of this size, scope and importance within five months, demonstrates the power of our shared vision,” said Abdullah bin Touq Al Marri, the UAE Minister of Economy, in a press conference in New Delhi on Friday.
That shared vision is already on a strong footing; the UAE is India’s third-largest trade partner and bilateral non-oil trade is anticipated to rise to $100 billion within five years. The two also have a number of recent major foreign direct investment deals.
CEPA is expected to lead to more economic co-operation, trade and investment between the two.
The shared vision between the UAE and India is already on a strong footing
It is one of the biggest milestones in the history of the bilateral relationship and the culmination of a longer period of increased co-operation over the past few years, which kicked off with a visit by Mr Modi to the UAE in 2015. Since then there have been four official trips between the leaders, and in 2017 both countries signed the Comprehensive Strategic Partnership.
The benefits of CEPA and today's wider discussions go beyond the bilateral realm. In September of last year, during talks in New Delhi on the formation of CEPA, Thani Al Zeyoudi, UAE Minister of State for Foreign Trade, described the deal as a moment to “strengthen the UAE’s position as a global gateway to Africa, Asia and Europe, driving economic growth and prosperity across the region”.
The UAE’s economic shift towards Asia is the context in which growing relations with India should be viewed. It is not just in New Delhi where Emirati officials are building on key trading relationships. China, for example, is the UAE’s largest non-oil trading partner, worth roughly $47bn in 2020. Saudi Arabia is second at almost $30bn. That means the country’s top three non-oil trading partners are not in the West, but the East. Building ties with eastern allies will be key to maintaining the UAE’s status as a global commercial hub. There is particularly great potential with India, given that an estimated 3.5 million Indian citizens live in the Emirates, making them the country’s largest expatriate community.
Just the numbers of this burgeoning relationship give a clear sense of its huge value. But in the face of dizzying economic and social statistics, it is important to remember that ties run deeper. The millions of Indian citizens living in the country make a huge contribution to life in the UAE, helping make it one the most diverse societies on the planet. While today is one to celebrate shared prosperity, it is also one to celebrate a social bond that has been with the UAE since its foundation.
Why on earth pick Vanuatu? Easy. The South Pacific country has no income tax, wealth tax, capital gains or inheritance tax. And in 2015, when it was hit by Cyclone Pam, it signed an agreement with the EU that gave it some serious passport power.
Cost: A minimum investment of $130,000 for a family of up to four, plus $25,000 in fees.
Criteria: Applicants must have a minimum net worth of $250,000. The process take six to eight weeks, after which the investor must travel to Vanuatu or Hong Kong to take the oath of allegiance. Citizenship and passport are normally provided on the same day.
Benefits: No tax, no restrictions on dual citizenship, no requirement to visit or reside to retain a passport. Visa-free access to 129 countries.
The specs: 2018 Harley-Davidson Fat Boy
Price, base / as tested Dh97,600 Engine 1,745cc Milwaukee-Eight v-twin engine Transmission Six-speed gearbox Power 78hp @ 5,250rpm Torque 145Nm @ 3,000rpm Fuel economy, combined 5.0L / 100km (estimate)
Russia and Ukraine have been locked in a bitter conflict since 2014, when Ukraine’s Kremlin-friendly president was ousted, Moscow annexed Crimea and then backed a separatist insurgency in the east.
Fighting between the Russia-backed rebels and Ukrainian forces has killed more than 14,000 people. In 2015, France and Germany helped broker a peace deal, known as the Minsk agreements, that ended large-scale hostilities but failed to bring a political settlement of the conflict.
The Kremlin has repeatedly accused Kiev of sabotaging the deal, and Ukrainian officials in recent weeks said that implementing it in full would hurt Ukraine.
More than 2.2 million Indian tourists arrived in UAE in 2023 More than 3.5 million Indians reside in UAE Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Thank You for Banking with Us
Director: Laila Abbas
Starring: Yasmine Al Massri, Clara Khoury, Kamel El Basha, Ashraf Barhoum
How being social media savvy can improve your well being
Next time when procastinating online remember that you can save thousands on paying for a personal trainer and a gym membership simply by watching YouTube videos and keeping up with the latest health tips and trends.
As social media apps are becoming more and more consumed by health experts and nutritionists who are using it to awareness and encourage patients to engage in physical activity.
Elizabeth Watson, a personal trainer from Stay Fit gym in Abu Dhabi suggests that “individuals can use social media as a means of keeping fit, there are a lot of great exercises you can do and train from experts at home just by watching videos on YouTube”.
Norlyn Torrena, a clinical nutritionist from Burjeel Hospital advises her clients to be more technologically active “most of my clients are so engaged with their phones that I advise them to download applications that offer health related services”.
Torrena said that “most people believe that dieting and keeping fit is boring”.
However, by using social media apps keeping fit means that people are “modern and are kept up to date with the latest heath tips and trends”.
“It can be a guide to a healthy lifestyle and exercise if used in the correct way, so I really encourage my clients to download health applications” said Mrs Torrena.
People can also connect with each other and exchange “tips and notes, it’s extremely healthy and fun”.
The Two Popes
Director: Fernando Meirelles
Stars: Anthony Hopkins, Jonathan Pryce
Four out of five stars
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
