India request for extra Qatar LNG to boost bilateral trade

April 6, 2012
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Dubai, April 6: India expressing interest in importing additional liquefied natural gas from Qatar will further boost the trade between the countries, a senior banker has said.


“India will be one of the largest gas markets for Qatar apart from China. Cooperation in the power sector between India and Qatar is under deliberation. India has sought to purchase 2 million tonnes to 3 million tonnes of LNG from Qatar in addition to the 7.5 million tonnes it already imports from Ras Laffan,” Doha Bank Group CEO R Seetharaman told Gulf Times.


Trade between the two countries stood at $ 5.2 billion in 2010, he said.


He also said that the GCC-India trade, which stood at $ 118 billion in 2010-11, is expected to exceed $ 130 billion by 2013-14.


According to Mr. Seetharaman, India also purchased 4 million tonnes of oil from Qatar in 2010 while Qatari investment in India is mainly in the infrastructure sector. The Qatari side had highlighted its interest in getting access to the Public Sector Undertaking (PSU) disinvestments in India via the anchor investor route.


“With Qatar becoming the host for 2022 FIFA World Cup and massive investment likely in infrastructure, Indian companies with a global profile are planning to secure lucrative deals in the engineering, procurement and construction contracts (EPCs). Private Indian companies are looking for investment in Qatar,” Mr. Seetharaman told the newspaper.


Mr. Seetharaman said Doha Bank is currently awaiting a licence from the Reserve Bank of India to start operations.


Many Indian companies have active relationships in the Qatari market through partnerships, agencies and have set up their offices here. They include L&T, Tata Projects, Voltas, Dodsal and Punj Llyod. State Bank of India (SBI) has opened its branch at the Qatar Financial Centre.


“Since India is a country with one of the largest agricultural sectors, a huge market exists for fertilisers.


With Qatar being a major producer of fertilisers, there is ample business opportunity for both sides in the sector,” Mr. Seetharaman said.


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Agencies
May 25,2020

Abu Dhabi, May 25: Dusty weather to persist in the UAE on Monday as well with a chance of rainfall in parts of the country, the national Met department reported.

According to the NCM, the weather today will be fair to partly cloudy, with a chance of some convective clouds formation by afternoon - eastward and northward - extending to some internal areas that may be associated with some rainfall.

The weather will get humid by night and Tuesday morning over some coastal areas.

NCM predicts a wet Eid break.

Sharjah Police issued a weather warning as heavy rain flooded roads in Sharjah's Kalba among other areas.

Moderate to fresh winds will gain strength during the day causing blowing dust and sand.

The sea will be slight to moderate in the Arabian Gulf and in Oman Sea.

Earlier on Sunday, a weather alert was issued by authorities as moderate to heavy rain - accompanied with hail - lashed parts of the UAE. A rainbow in Dubai skies cheered up residents, celebrating a unique Eid this year amid the coronavirus Covid-19 pandemic - by mostly staying home.

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News Network
January 6,2020

Dubai/Washington, Jan 6: Tens of thousands of Iranians thronged the streets of Tehran on Monday for the funeral of Quds Force commander Qassim Suleimani who was killed in a US air strike last week and his daughter said his death would bring a "dark day" for the United States.

"Crazy Trump, don't think that everything is over with my father's martyrdom," Zeinab Suleimani said in her address broadcast on state television after US President Donald Trump ordered Friday's strike that killed the top Iranian general.

Iran has promised to avenge the killing of Qassim Suleimani, the architect of Iran's drive to extend its influence across the region and a national hero among many Iranians, even many of those who did not consider themselves devoted supporters of the Islamic Republic's clerical rulers.

The scale of the crowds in Tehran shown on television mirrored the masses that gathered in 1989 for the funeral of the founder of the Islamic Republic, Ayatollah Ruhollah Khomeini.

In response to Iran's warnings, Trump has threatened to hit 52 Iranian sites, including cultural targets, if Tehran attacks Americans or US assets, deepening a crisis that has heightened fears of a major Middle East conflagration.

The coffins of the Iranian general and Iraqi militia leader Abu Mahdi al-Muhandis, who was also killed in Friday's attack on Baghdad airport, were passed across the heads of mourners massed in central Tehran, many of them chanting "Death to America".

One of the Islamic Republic's major regional goals, namely to drive US forces out of neighbouring Iraq, came a step closer on Sunday when the Iraqi parliament backed a recommendation by the prime minister for all foreign troops to be ordered out.

"Despite the internal and external difficulties that we might face, it remains best for Iraq on principle and practically," said Iraqi caretaker Prime Minister Adel Abdul Mahdi, who resigned in November amid anti-government protests.

Iraq's rival Shi'ite leaders, including ones opposed to Iranian influence, have united since Friday's attack in calling for the expulsion of US troops.

Esmail Qaani, the new head of the Quds Force, the Revolutionary Guards' unit in charge of activities abroad, said Iran would continue Suleimani's path and said "the only compensation for us would be to remove America from the region."

ALLIES AT FUNERAL

Prayers at Suleimani's funeral in Tehran, which will later move to his southern home city of Kerman, were led by Iran's Supreme Leader Ayatollah Ali Khamenei. Suleimani was widely seen as the second most powerful figure in Iran behind Khamenei.

The funeral was attended by some of Iran's allies in the region, including Ismail Haniyeh, the leader of Palestinian group Hamas who said: "I declare that the martyred commander Suleimani is a martyr of Jerusalem."

Adding to tensions, Iran said it was taking another step back from commitments under a 2015 nuclear deal with six major powers, a pact from which the United States withdrew in 2018.

Washington has since imposed tough sanctions on Iran, describing its policy as "maximum pressure" and saying it wanted to drive down Iranian oil exports - the main source of government revenues - to zero.

Talking to reporters aboard Air Force One on the way to Washington from Florida on Sunday, Trump stood by his remarks to include cultural sites on his list of potential targets, despite drawing criticism from US politicians.

"They're allowed to kill our people. They're allowed to torture and maim our people. They're allowed to use roadside bombs and blow up our people. And we're not allowed to touch their cultural sites? It doesn't work that way," Trump said.

Democratic critics of the Republican president have said Trump was reckless in authorizing the strike, and some said his comments about targeting cultural sites amounted to threats to commit war crimes. Many asked why Soleimani, long seen as a threat by US authorities, had to be killed now.

Republicans in the US Congress have generally backed Trump's move.

Trump also threatened sanctions against Iraq and said that if US troops were required to leave the country, Iraq's government would have to pay Washington for the cost of a "very extraordinarily expensive" air base there.

He said if Iraq asked US forces to leave on an unfriendly basis, "we will charge them sanctions like they've never seen before ever. It'll make Iranian sanctions look somewhat tame."

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Agencies
June 9,2020

Dubai, Jun 9: Dubai's Emirates airline has begun laying off employees to reduce cost and save cash as the carrier looks to rightsize its workforce.

"We at Emirates have been doing everything possible to retain the talented people that make up our workforce for as long as we can. However, given the significant impact that the pandemic has had on our business, we simply cannot sustain excess resources and have to rightsize our workforce in line with our reduced operations. After reviewing all scenarios and options, we deeply regret that we have to let some of our people go," the spokesperson said in the statement.

Citing sources, Reuters and Bloomberg earlier reported that a majority of those being made redundant are cabin crew workers as well as a minority of its engineers and pilots, including those flew the Airbus A380.

"This was a very difficult decision and not one that we took lightly. The company is doing everything possible to protect the workforce wherever we can. Where we are forced to take tough decisions we will treat people with fairness and respect. We will work with impacted employees to provide them with all possible support," said the statement.

The spokesperson, however, didn't disclose how many employees are being made redundant in this latest round of rightsizing the workforce.

Emirates on Sunday confirmed that it extended the period of reduced pay for its staff for another three months till September. It had previously reduced basic wages by 25 to 50 per cent for three months from April, with junior employees exempted.

The airline had employed around 60,000 people at the end of its 2019-20 financial year.

Saj Ahmad, chief analyst at StrategicAero Research, said the announced job cuts at Emirates will likely not be the last given the unprecedented damage that Covid-19 has had not just on air travel, but on the entire aviation industry as a whole.

"Emirates' massive international network means that job reductions were always a last resort option as the company staves off cash burn and expenses at a time when revenues are dried up. While Emirates SkyCargo is enjoying a resurgence in activities, the reality is that this income will never offset the lost money from passenger operations," he added.

"Whilst some salary reduction schemes have prevented bigger job cuts for now, the absence of a cure or medicinal suppressant of Covid-19 means that air travel is unlikely to even reach pre-9/11 levels within 3-5 years, let alone pre-Covid-19 levels in that same time period. For that reason, Emirates' reduction in headcount is necessary to stay competitive, agile and be ready for when air travel can resume with a degree of normalcy that we have been accustomed to for decades," said Ahmad.

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