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India, UAE sign currency swap deal

Wednesday, December 5, 2018, 12:12 PM

India and UAE signed a Rs.3,500-crore currency swap agreement during External Affairs Minister Sushma Swaraj's Abu Dhabi visit. The agreement is expected to reduce the dependency on hard currencies like US dollar and reduce transmission costs arising from exchange rate risks, the Indian embassy said. The two nations also signed an agreement to undertake development projects in Africa.
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'Shocked' UK warns UAE of repercussions over spy student sentence

Wednesday, November 21, 2018, 7:45 PM

A United Arab Emirates court sentenced British student Matthew Hedges to life in jail on Wednesday after convicting him of spying, a family spokesman said. "We can confirm that he was sentenced to life in prison," the spokesman told AFP. "The hearing lasted less than five minutes, and his lawyer was not present." Hedges has repeatedly denied the charges.
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UAE amps up oil and gas output as Iran sanction shit

Monday, November 5, 2018, 6:02 PM

UAE oil company ADNOC has announced the discovery of new oil and gas resources, with an eye on full self-sufficiency as US sanctions on Iran go into effect. State-run ADNOC, based in the oil-rich capital Abu Dhabi, said Sunday it had discovered new gas fields, totalling 15 trillion standard cubic feet, and another billion barrels of oil.

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