Kalki

Rajeev Jhawar  Usha Martin , Managing Director at Usha Martin Limited is the son of Brij Kishore Jhawar.   Usha Martin is one of the largest manufacturers of wire ropes in the world and has the capacity to produce 300,050 tonnes of it per annum. The company has a global base of wire rope manufacturing, with facilities located in India, the UK, Dubai and Bangkok. Rajeev Jhawar makes sure that Usha Martin wire ropes are supported with an extensive global network so that it can offer expert advice to both crane manufacturers and end users. Usha Martin is now in the process of strengthening their projects and services under the leadership of Rajeev Jhawar  Usha Martin . Rajeev Jhawar Usha Martin “We believe that we are at an inflection point. Having been able to stabilise our business, we are truly on our way to strengthen our operations and push the boundaries”, Rajeev Jhawar said on the expansion of the company in terms of capacities and increasing the business into new geo...

Julius Baer, one of the oldest Swiss private banks, expects its Middle East business to strengthen as it prepares to open another hub office in Qatar to further boost its operations in the region, its chief executive has said. While the new operation in Qatar, which has the fourth highest GDP per capita income of countries globally, will be a boon for Julius Baer, the UAE remains its biggest market in the Middle East and its fourth-largest worldwide globally in terms of clients and assets. The bank has “clear growth plans” for its operations in the Arab world’s second largest economy, whose strong performance drove the region to outperform the Zurich-based wealth manager’s business elsewhere in the world, Philipp Rickenbacher, told The National in an interview. The UAE economy expanded by 8.4 per cent in the first quarter of this year and is set to grow in 2022 at the fastest pace since 2011. “This region has grown over-proportionately, in comparison to the global Julius Baer network,...

UK Prime Minister Liz Truss and Chancellor Kwasi Kwarteng have been branded “reckless and irresponsible” by a Labour frontbencher for announcing tax cuts that benefit Britain’s rich in the middle of a cost-of-living emergency. Rachel Reeves, the shadow chancellor and a former economist at the Bank of England, said the UK’s biggest tax cuts in half a century have already wreaked havoc on financial markets and would disproportionally benefit high earners. Ms Reeves accused the prime minister and chancellor of “behaving like two gamblers in a casino chasing a losing run” with their financial package unveiled last week. Ms Reeves said the Tory government should be mindful of how tax cuts will affect financial markets and also public opinion. The plan unveiled in the mini-budget on Friday put markets into a spin and sent the pound spiralling to a record low. Ms Reeves backed Labour leader Sir Keir Starmer’s statement that he would reinstate the 45 per cent top rate of income tax if he were ...

As the UK enters a new era, with King Charles III and Prime Minister Liz Truss at the helm, the country’s standing in the world is under the spotlight. As the world’s leaders gathered in the UK last Monday to bid Queen Elizabeth II farewell and with her the Elizabethan Age that marked modern Britain, questions abound about how the country will cope with these major changes. With Brexit now a political reality and economic woes plunging the pound sterling into turmoil, how the UK interacts with the world is of particular consequence. As Foreign Secretary James Cleverly sets his foreign policy vision, the views of the British people on foreign policy are ever more important. Therefore, The National decided to conduct a nationwide poll, along with Deltapoll, to understand how Britons view their country’s place in the world and what their foreign policy priorities are. With the fallout of Brexit still being felt, the majority of respondents felt that it has not worked out as they had hoped...

Iran’s nuclear programme poses a significant threat beyond the Middle East with a majority of the British population fearing its effect, a poll for The National has shown. The survey of British public opinion found that 54 per cent have concerns that Iran’s nuclear ambitions “represent a threat to the world”, including Britain. Leading commentators told The National that the finding demonstrates the urgent need to curtail Tehran’s nuclear programme, which is said to be months away from being able to create a nuclear bomb. The nationwide survey on British views on foreign policy also had unexpected results on rising fears about Al Qaeda, a western re-intervention in Afghanistan and the justification of the Iraq invasion in 2003. Read More : https://www.thenationalnews.com/world/uk-news/2022/09/26/most-in-britain-fear-iran-nuclear-plans-as-a-uk-security-threat/

India’s exports to the UAE, excluding petroleum products, grew by 14.5 per cent annually in the three months since the two countries began the introduction of a Comprehensive Economic Partnership Agreement (CEPA). Exports from India grew to $5.92 billion in the three months from June to August, up from $5.17bn recorded for the same period in 2021, state news agency Wam said on Monday, citing data from the Indian Ministry of Commerce and Industry. Although implementation of the CEPA began on May 1, the ministry said the exports data of the first 30 days was not included in the study as it was considered a transition period. "The UAE-India CEPA is already creating a significant positive impact on bilateral trade," Wam cited the Indian ministry as saying. "India's global non-petroleum exports during June-August 2022 grew by 3 per cent annually. This implies that the growth rate of India's non-petroleum exports to the UAE is almost five times as that of India's n...

Saudi poultry processing firm Anaam International Holding Co. has closed a deal to acquire 55 percent of ARW Industry Co. as it seeks to diversify its sources of revenue. With operations in the city of Jeddah, ARW specializes in manufacturing medical supplies. The Saudi-listed group agreed to purchase the shares at a value of SR15 million ($4 million), according to a bourse filing. Anaam said the move aims to diversify its business, in addition to beefing up the Kingdom’s medical sector with different sources of income and potential domestic product growth.

Shares of Saudi poultry processing firm Anaam International Holding Co. surged in early trading after it turned a profit of SR1.6 million ($425,599) in the first half of 2022, against a loss of SR2.4 million in the year-earlier period. Anaam’s shares topped market gainers, surging 9.94 percent to reach SR20.8 percent at 10:32 a.m. Saudi time. Anaam attributed its performance to an 84 percent surge in sales and revenue during the first six months of the year to reach SR7.2 million, according to a bourse filing. Its accumulated losses reached SR7.23 million, representing 2.3 percent of capital, as of June 30, 2022.

The US warned on Sunday of “catastrophic consequences” if Moscow were to use nuclear weapons in Ukraine, after Russia’s foreign minister said regions holding widely-criticized referendums would get full protection if annexed by Moscow. Votes in four eastern Ukrainian regions, aimed at annexing territory Russia has taken by force, were staged for a third day on Sunday. The Russian parliament could move to formalize the annexation within days. By incorporating the areas of Luhansk, Donetsk, Kherson and Zaporizhzhia into Russia, Moscow could portray efforts to retake them as attacks on Russia itself, a warning to Kyiv and its Western allies. US National Security Adviser Jake Sullivan said on Sunday the United States would respond to any Russian use of nuclear weapons against Ukraine and that it had spelled out to Moscow the “catastrophic consequences” it would face. Read More : https://www.arabnews.com/node/2169441/world

Safeen Feeders, AD Ports Group’s feeder services company, has signed an agreement with Abu Dhabi-listed Invictus Investment to launch a new international dry bulk shipping service. Under the terms of the deal, the two companies will purchase ships through special purpose vehicles, in which Safeen Feeders will have an 85 per cent stake and the remaining 15 per cent will be owned by Invictus Investment. Safeen Feeders and Invictus Investment will also form a joint venture to operate the service. Safeen Feeders will own 51 per cent of the joint venture, while Invictus Investment will have 49 per cent, AD Ports Group said on Monday. The two companies are expected to invest about Dh463 million ($126m) in the vessels, it said. “This is an important agreement for AD Ports Group as we look to expand the diverse portfolio of international dry bulk services that we provide for customers and strengthen food security in the region and around the world,” said Mohamed Al Shamisi, managing director a...

Emirates Steel Arkan, the largest public steel and building materials manufacturer in the UAE, has linked up with Japanese trading house Itochu and JFE Steel in a plan for a ferrous raw material production facility in Abu Dhabi. The move could bolster the Emirates’ efforts to further lower the emissions of its industrial activities. ESA, formed after the merger of Emirates Steel and Arkan Building Materials last year, and the two Japanese companies will carry out feasibility studies for the creation of the facility in the UAE capital, the steel manufacturer said in a statement on Monday to the Abu Dhabi Stock Exchange, where its shares are traded. The plan is intended to meet growing demand for green steel. “We are proud to be leading efforts among steel makers in the Middle East to decarbonise amid an intensification of the global drive to curb carbon dioxide emissions,” Saeed Al Remeithi, group chief executive of Emirates Steel Arkan, said. Read More : https://www.thenationalnews.co...