Category Archives: Business

RAKEZ signs two strategic agreements to reinforce Ras Al Khaimah’s position as a competitive industrial hub and attract investments

Ras Al Khaimah, May 07: In the presence of HH Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah, Ras Al Khaimah Economic Zone (RAKEZ) signed two strategic agreements – with MAGRABi Retail Group and Mighty Industrial Park – during the 5th edition of Make it in the Emirates (MIITE), held at ADNEC Centre in Abu Dhabi, reinforcing the emirate’s growing position as a competitive hub for industrial investment and advanced manufacturing.

The agreements reflect increasing investor confidence in Ras Al Khaimah’s industrial ecosystem and its ability to support long-term, scalable manufacturing operations.

The first agreement, represented by MAGRABi Retail Group CEO Yasser Taher, aims to establish a Store Manufacturing Centre – a purpose-built facility dedicated to the production of furniture, store fit-outs, refurbishments, and pop-up concepts across its retail network. Designed to service up to 140 stores annually, the facility will support MAGRABi Retail’s operations across all its markets in the GCC, while creating up to 100 jobs and strengthening the company’s regional expansion and operational capabilities.

Taher said, “At MAGRABi Retail, everything we do is driven by a customer-first philosophy. This investment reinforces our long-term commitment to the Emirate of Ras Al Khaimah while enabling us to further elevate the retail experience across our growing network. By centralising the production of our store environments, we ensure that every detail reflects our dedication to quality, innovation, and client care.”

The second agreement was concluded with Mighty Industrial Park, represented by shareholder Guichun Guo, setting plans for the development of a comprehensive China-UAE industrial park. The project will focus on metal recycling, dismantling, smelting, precious metal refining, and advanced manufacturing, creating a fully-integrated ecosystem that supports sustainable industrial development and sector growth, while contributing to the advancement of circular economy practices within Ras Al Khaimah.

Guo said, “Ras Al Khaimah was chosen by Mighty Industry Park because it offers the practical conditions required for a resource-circulation industrial project to scale: industrial land, utility access, logistics connectivity and a manufacturing environment that can support recycling, refining, production, and export activities. RAKEZ provides a platform where our secondary copper recycling, refining, and copper products manufacturing operations can be developed as an integrated industrial chain rather than as a single standalone facility. With support from the relevant authorities during the establishment process, we see Ras Al Khaimah as a long-term base for building a circular-economy value chain, attracting upstream and downstream partners, and contributing to the UAE’s green manufacturing and industrial diversification goals.”

Commenting on the agreements, RAKEZ Group CEO Ramy Jallad said, “These two agreements reflect our ongoing commitment to strengthening Ras Al Khaimah’s position as a leading hub for advanced manufacturing and industrial investment in the region. By partnering with prominent companies such as MAGRABi Retail and Mighty Industrial Park, we are committed to developing an integrated industrial ecosystem that supports innovation and keeps pace with global shifts in value chains and sustainable manufacturing. At RAKEZ, we continue to provide a flexible and enabling business environment that allows investors to expand with confidence, benefit from advanced infrastructure, and access integrated services that support their long-term growth.”

In addition to these milestones, Jallad took part in a high-level panel discussion alongside leaders from the UAE’s free and economic zones. During the session, he highlighted the UAE’s strong industrial resilience, driven by alignment of efforts across federal entities and economic zones, and reinforced by practical, on-the-ground support for businesses. He noted that flexibility, close client engagement, and integrated ecosystem support have been key to maintaining continuity, while long-term investor confidence continues to be built on stability, scalability, and the ability to grow seamlessly within the same environment.

When asked about long-term commitments from global manufacturers, he said, “Certainty remains the key — enabled by a stable environment, seamless scalability within one ecosystem, and integrated access to logistics, financing, and global markets, allowing businesses to grow with confidence over the long term.”

This direction aligns closely with the UAE’s Operation 300bn strategy, with RAKEZ contributing by enabling industrial growth, attracting high-value manufacturing investments, and providing the infrastructure and ecosystem required for businesses to scale within the country.

Through its continued participation in major platforms such as MIITE, RAKEZ reinforces this role by creating an environment where businesses can grow with confidence, expand seamlessly, and navigate evolving global conditions while contributing to the UAE’s long-term industrial and economic ambitions.

Thailand’s Strategic Realignment Could Unlock New Trade and Investment Channels for India: ORF

New Delhi, May 7 (BNP): Thailand’s evolving strategic and economic orientation is likely to create new opportunities for deeper economic engagement with India, according to a recent analysis by the Observer Research Foundation (ORF).

The report notes that Thailand is gradually recalibrating its external partnerships and economic priorities in response to shifting global geopolitics and changing supply chain dynamics. This transition is expected to open space for stronger regional cooperation, particularly with fast-growing economies like India.

As Bangkok looks to diversify trade links and strengthen its position in global value chains, the study highlights potential areas of collaboration for Indian businesses, including manufacturing, digital services, infrastructure development, and emerging technology sectors.

The ORF analysis suggests that this shift could also support broader regional economic integration, especially within the ASEAN framework, by encouraging more diversified and resilient trade relationships across Asia.

It further observes that ongoing global supply chain reconfiguration is prompting countries in the region to reduce dependence on a narrow set of markets, creating momentum for more balanced and flexible economic partnerships.

Within this context, India is seen as a key partner for Thailand due to its expanding industrial base, large consumer market, and growing capabilities in digital and services-led sectors. The report indicates that deeper cooperation could help enhance investment flows, improve connectivity, and foster greater technological collaboration between the two economies.

Overall, the ORF assessment underscores that Thailand’s strategic recalibration presents a timely window for India to strengthen its economic presence in Southeast Asia and play a more active role in shaping the region’s evolving growth architecture.

Dubai homeowners now holding as long as Londoners and New Yorkers

New fäm Properties analysis of more than 1.1 million Dubai Land Department transactions shows clear shift away from short-term investors

Dubai, UAE, May 07: Dubai homeowners are now holding their properties for as long as Londoners and New Yorkers, according to a new study of more than 1.1 million transactions spanning the last 16 years.

It underlines how the city’s real estate sector has evolved to stand alongside the world’s most mature markets, no longer driven by short-term investors.

The analysis of Dubai Land Department transaction data by fäm Properties covers 687,406 primary market transactions between 2012 and 2025, and 425,083 resale market transactions between 2009 and 2025.

Of those, 480,604 primary market homes and 259,615 resale market properties remain with the original buyer, adding up to 740,219 residential properties purchased since 2012 that have never been resold. That represents 69.9% of primary market purchases and 61.1% of resale market transactions over the period.

“Buyers focused on flipping properties have been replaced by owners committed to staying in Dubai and holding on to them,” said Firas Al Msaddi, CEO of fäm Properties. “That’s what a market looks like when it matures.”

“Until now, much of the conversation about Dubai’s residential holding behaviour was built around a 2013 framework, but we’ve moved on from there. A buyer who purchased in Dubai in 2014 and is still holding their property today is behaving exactly like the median homeowner in New York or London.”

The new data shows a consistent and strengthening pattern across both market segments. Among primary market buyers, 42% of those who purchased in 2014 are still holding their property eleven years later, rising to 53% among 2017 buyers after eight years and 61% among those who bought in 2022 after three years.

The resale market tells a similar story, with 38% of 2014 buyers still in ownership after eleven years, 53% of 2017 buyers after eight years, and 65% of those who purchased in 2022 still holding after three years.

Those figures mirror ownership patterns in the US, where the typical homeowner now stays for between 11 and 12 years, according to 2025 data from Redfin and the National Association of Realtors. Meanwhile, in the UK, only around 4% of homes change hands in any given year, implying the majority of owners hold for well over a decade.

The new data analysis is drawn from DXBinteract, the market intelligence platform developed by fäm Properties in partnership with the Dubai Land Department records. All figures reflect ownership status as at the end of April 2026.

Al Msaddi links the change in ownership behaviour with a series of structural developments in Dubai’s residential market. The Golden Visa programme, introduced in 2019 and expanded in 2022, established a direct link between property ownership and long-term residency, while regulatory reforms strengthened protections for buyers purchasing off-plan.

While the timing of the Golden Visa rollout and the impact of Covid-19 influenced a slight dip in retention rates, these have risen with each successive group of buyers since 2020.

Significant infrastructure investment over the same period, including new metro connections and the development of major new residential districts such as Dubai South, Dubai Creek Harbour and Dubai Islands, has also extended the range of locations where buyers are willing to commit for the long term.

Primary market – share of buyers still holding, by year of purchase

Resale market – share of buyers still holding, by year of purchase

Nashik Set for INR 33,000 Crore Kumbh-Driven Infrastructure Push to Boost Long-Term Growth: Fadnavis

Nashik, May 7 (BNP): Maharashtra is preparing for a major development push in Nashik with ₹33,000 crore worth of infrastructure and connectivity projects planned around the upcoming Simhastha Kumbh Mela, Chief Minister Devendra Fadnavis said, adding that the city is set to evolve far beyond its religious identity into a sustained economic growth centre.

Speaking at the closing session of the Kumbh Udyog Sangam and Nashik Investment Summit 2026, he said the scale of investment is designed not only to support the massive congregation expected during the Kumbh but also to leave behind permanent urban and industrial assets.

The Simhastha Kumbh Mela, scheduled from October 31, 2026 to July 24, 2028, is expected to drive large-scale upgrades in transport, civic infrastructure, mobility systems, and urban facilities across the district.

Fadnavis said the development programme is being structured to ensure that pilgrimage-driven infrastructure also strengthens Nashik’s long-term economic base. Key focus areas include road expansion, ring roads, logistics connectivity, and improved public utilities.

Alongside infrastructure development, the state is positioning Nashik as an emerging industrial destination. At the investment summit, agreements worth ₹13,190 crore were signed with over 300 investors, projected to generate nearly 32,000 jobs.

The Chief Minister said Nashik has already seen strong investment traction, with more than ₹31,900 crore implemented in recent years and overall inflows crossing ₹57,000 crore over the last two years.

He noted that implementation levels remain high, with nearly 77 per cent of signed investment commitments already moving into execution, reflecting growing investor confidence in the region.

Industrial interest is expanding across sectors such as manufacturing, electronics, automobiles, textiles, agriculture-linked services, and logistics. Major industry players, including Mahindra & Mahindra, are among those investing or expanding operations in the region.

Fadnavis also highlighted that Nashik is being developed as part of a broader regional growth corridor, alongside districts like Jalgaon, Dhule, Nandurbar, and Ahilyanagar, to ensure more balanced industrial distribution across Maharashtra.

He said improvements in airport capacity, railway connectivity, and industrial infrastructure are strengthening Nashik’s attractiveness as an investment destination, while dedicated facilitation systems are helping speed up project execution.

Officials said the Kumbh-linked development model is being used as a catalyst to integrate spiritual tourism with economic planning, creating opportunities for hospitality, transport, retail, and small businesses.

With large-scale public investment and rising private participation, Nashik is being positioned as a future-ready urban and industrial hub expected to anchor growth in northern Maharashtra over the next decade.

Rupee Falls to 94.77 as US-Iran Peace Talks Trigger Volatility

Mumbai, May 7 (BNP): The Indian rupee weakened in early trade on Thursday, falling by 28 paise to 94.77 against the US dollar as investor sentiment turned cautious following reports of a potential diplomatic breakthrough between the United States and Iran.

The currency came under pressure after markets reacted to news that Washington and Tehran are discussing a 14-point Memorandum of Understanding (MoU) aimed at reducing tensions and restarting negotiations to de-escalate the ongoing geopolitical conflict.

According to market participants, the sudden shift in sentiment led to volatility in currency markets, with traders reassessing risk exposure amid uncertainty over the outcome of the proposed agreement.

The latest developments come at a time when global markets remain highly sensitive to West Asia tensions, particularly their impact on crude oil prices, trade routes, and foreign capital flows.

A softening in risk appetite also contributed to pressure on the rupee, as investors weighed the implications of potential changes in oil supply dynamics and broader geopolitical stability.

Recent market reports indicate that fluctuations in the India–US dollar pair have been closely tied to news flow from the region, with currency movements reacting sharply to both optimism and uncertainty surrounding the peace talks.

Analysts say currency markets are likely to remain volatile in the near term, as participants await clearer signals on whether diplomatic negotiations between the US and Iran progress into a formal agreement.

For now, the rupee continues to trade under pressure, reflecting a cautious global environment where geopolitical developments are playing a dominant role in shaping investor sentiment.

Shangri-La Eros New Delhi Celebrates Mother’s Day with Curated Dining and Wellness Experiences Honouring Every Mother

New Delhi, May 07: This Mother’s Day, Shangri-La Eros New Delhi invites guests to celebrate the women who make life’s simplest moments feel extraordinary with a thoughtfully curated series of dining and wellness experiences across the hotel. Designed as a tribute to mothers and all that they do, each experience has been crafted to feel personal, memorable, and indulgent in equal measure.

From a special Punjabi culinary pop-up at Tamra in collaboration with Chef Pin, to a five-course Italian lunch complemented by an interactive pizza-making experience at Sorrento, and celebratory lunch and dinner offerings at Shang Palace, the hotel brings together distinct experiences designed for meaningful moments with family.

Extending beyond the day itself, The Mother’s Day Save introduces exclusive salon privileges and specially priced gift vouchers, allowing the celebrations to continue well beyond Mother’s Day.

At the heart of this year’s Mother’s Day celebrations is Virsa; A Punjabi Culinary Affair, a special pop-up hosted at Tamra in collaboration with Chef Pin. Running from 8th to 10th May, the limited-period showcase features a curated menu by Chef Rummy Nagpal, bringing the bold, rooted flavours of Amritsari and Sanjha Punjab cuisine to the capital. Virsa draws from her upbringing in Amritsar and her mother’s intuitive, unwritten recipes, refined through years of travel and culinary practice, with each dish carrying forward a generational memory. The menu unfolds as a cohesive journey, beginning with starters like Lehsoon Kali Mirch Mutton Chops, Tawa Kalegi, and Mutton Tawa Chaap, moving into a hearty main course of Shahi Butter Chicken, Mutton Bhuna, Kulche Chole, and Satpura Laungi, and concluding with traditional desserts such as Roh Di Kheer and Caramelized Halwa. The Punjabi pop-up is available for both lunch and dinner, with the lunch buffet .

Complementing the celebrations, on 10th May the hotel presents two distinct dining experiences. At Sorrento, Mother’s Day unfolds as a Chef’s Choice five-course set lunch rooted in the culinary traditions of Naples and built around the restaurant’s signature dishes, featuring selections such as Rigatoni Alla Norma with San Marzano Sauce and Confit Aubergine, and Pan-Seared Seabass. A highlight of the afternoon is an interactive pizza-making session, where guests are guided through stretching the dough, selecting toppings, and crafting their own pizzas, adding a hands-on, personal dimension to the experience. Sorrento’s Chef’s Choice five-course lunch .

Shang Palace welcomes guests for both lunch and dinner with specially curated Mother’s Day experiences. Lunch will feature the Chef’s signature Golden Chopstick menu alongside a refined selection of Cantonese classics, while dinner will present three thoughtfully designed set menu experiences complemented by a bespoke à la carte cocktail selection. Adding a celebratory touch to the occasion, mothers dining at the restaurant will be welcomed with a complimentary cocktail or mocktail.At Shang Palace, the specially curated lunch experience is priced at INR 3,000 plus taxes per person, while dinner experiences begin at INR 4,000 plus taxes per person.

Industry Reaction on ECLGS 5.0 from M1NXT, Tide & Progcap

May 07: India’s MSME ecosystem is likely to see a meaningful liquidity boost with the rollout of ECLGS 5.0, especially at a time when exporters and small businesses continue to grapple with global demand volatility, tighter cash flow cycles, and rising operational uncertainty. Industry players across trade finance, MSME banking, and fintech believe the enhanced guarantee support and expanded credit coverage could improve lender confidence, accelerate working capital access, and strengthen the resilience of small businesses navigating supply-side and trade challenges. The move is also expected to deepen adoption of digital financial tools and enable more inclusive credit deployment across underserved MSME segments.

“ECLGS 5.0 comes at a time when many MSMEs are dealing with tighter cash flow cycles and increasing uncertainty in their day-to-day operations. What really matters in such moments is timely access to working capital and the 100% guarantee structure helps unlock that by giving lenders the confidence to move faster. From what we see on the ground, demand for short-term, flexible credit is only increasing, and interventions like this play a critical role in helping businesses stay resilient, keep their operations running, and protect livelihoods across the value chain.” – Pallavi Shrivastava, Co-Founder, Progcap

“ECLGS 5.0 is a timely move that reinforces support for MSMEs navigating ongoing global uncertainties. With ₹2.55 lakh crore in additional credit and 100% guarantee support, it will help ease immediate liquidity pressures and sustain business continuity. Importantly, this also reflects a broader shift—resilience today goes beyond access to credit, with MSMEs increasingly focusing on stronger cash flow management, real-time financial visibility, and digital tools to build more stable, future-ready businesses.”  – Gurjodhpal Singh, CEO, Tide in India

“ECLGS 5.0 is expected to ease credit constraints for global trade MSMEs by improving access to working capital and strengthening lender confidence through sovereign guarantees. This will enable MSMEs better navigate supply-side challenges, scale operations, and enhance their competitiveness in international markets. At the same time, the expanded risk coverage is likely to drive higher participation from financial institutions, enabling broader credit deployment and supporting a more robust and inclusive trade finance ecosystem, while reinforcing India’s position in global supply chains.” – Munindra Verma, CEO, M1 NXT

 

Odisha Positioned to Drive India’s Next Industrial Growth from the East Coast: CM Mohan Majhi

Bhubaneswar, May 7 (BNP): Odisha Chief Minister Mohan Charan Majhi has called for a more balanced model of industrial development in India, stating that the country’s next major growth phase should be powered by the eastern coastline, with Odisha emerging as a central hub for investment, trade and manufacturing.

Pic Credit: https://x.com/MohanMOdisha 

Speaking during his visit to Gujarat, the Chief Minister said India’s western coast has played a crucial role in driving maritime trade and industrial expansion over the years, but the time has now come to unlock the untapped potential of the East Coast.

During interactions with industry leaders and stakeholders at Mundra Port, Majhi proposed a “two-coast strategy” aimed at strengthening industrial activity across both the western and eastern seaboards to ensure more balanced and sustainable economic growth.

He said Odisha is well-positioned to lead this transformation due to its strategic location, expanding infrastructure network and growing industrial ecosystem. The state’s proximity to Southeast Asia, East Asia and the Indo-Pacific region, he noted, offers strong advantages for trade, logistics and manufacturing.

The Chief Minister emphasised that Odisha is building an investment-friendly environment backed by policy support, faster clearances and improved connectivity. He added that the state is focused on converting investment commitments into on-ground projects within a defined timeframe.

Majhi, accompanied by Industries Minister Sampad Chandra Swain, Chief Secretary Anu Garg and senior officials, showcased Odisha’s industrial potential and infrastructure readiness during meetings with business leaders.

As part of the visit, the delegation toured major facilities at Mundra Port, including container terminals and Very Large Crude Carrier (VLCC) jetties, to study large-scale cargo handling and integrated port operations. They also visited industrial units within the adjoining Special Economic Zone, including facilities linked to copper manufacturing and renewable energy components such as solar cells and wind turbine parts.

On the second day of my Gujarat visit, I visited Mundra Port and engaged with industry leaders, where I proposed a balanced two-coast strategy as a defining framework for India’s next phase of industrial development. India’s growth cannot remain one-sided; the next phase of… pic.twitter.com/2zur2kYtbR

— Mohan Charan Majhi (@MohanMOdisha) May 6, 2026

Highlighting Odisha’s recent investment momentum, the Chief Minister said the state has approved 433 investment proposals worth nearly ₹8.37 lakh crore over the past 22 months. Of these, 148 projects worth around ₹2.86 lakh crore have already moved into the implementation stage.

He noted that sectors such as logistics, petrochemicals, chemicals, downstream industries and manufacturing are witnessing growing investor interest, supported by expanding industrial corridors, logistics parks and port-led infrastructure.

According to officials, Odisha is steadily strengthening its position as a major industrial and logistics hub on India’s eastern coast. Ports including Paradip Port, Dhamra Port and Gopalpur Port are expected to play a key role in driving future industrial growth and regional connectivity.

The visit is being seen as part of Odisha’s broader effort to attract large-scale investments and position itself as a leading growth engine for India’s next industrial decade.

India’s Exports Surge Over 20 pc in April Despite West Asia Tensions

New Delhi, May 7 (BNP): India’s export sector has started the new financial year on a strong note, recording more than 20 per cent growth in the first three weeks of April despite rising geopolitical tensions and disruptions in global trade routes linked to the West Asia conflict.

According to the Ministry of Commerce and Industry, the sharp rise in exports reflects resilient global demand for Indian goods even as international supply chains face uncertainty due to the ongoing crisis in the Middle East.

Among the key drivers of growth were petroleum products and electronic goods, both of which witnessed strong overseas demand during the period between April 1 and April 21.

Industry observers said exports of refined petroleum products such as diesel and aviation fuel received a boost as disruptions around the Strait of Hormuz affected normal supply flows from Gulf nations. The strategic waterway remains a critical route for global oil shipments, and tensions in the region have pushed up international energy prices.

India’s coastal refineries appear to have benefited from the shifting trade dynamics, helping increase exports of fuel products to several markets.

At the same time, electronic goods continued to emerge as a major strength for India’s export economy. Growing global demand for smartphones, consumer electronics, and communication equipment has significantly expanded the country’s presence in international markets.

The expansion of manufacturing operations by global technology companies, including Apple, has further accelerated India’s electronics exports in recent years.

Commerce and Industry Minister Piyush Goyal said exporters remain optimistic despite the challenging global environment. He noted that shipments to West Asia are continuing through alternative routes as the Strait of Hormuz remains under pressure.

The minister also expressed confidence that India’s recently concluded free trade agreements would provide long-term support to domestic industries and help expand access to global markets.

India’s electronics exports have witnessed remarkable growth over the past decade. Between 2016 and 2024, exports from the sector increased nearly fivefold to over $42 billion, reflecting the country’s growing role in global manufacturing and supply chains.

A recent report by NITI Aayog highlighted that electronics has now become one of India’s largest export categories, supported by rising investments, policy incentives, and expanding domestic production capabilities.

The sector has also become increasingly important for industries such as telecom, renewable energy, defence, and automotive manufacturing, strengthening its role in India’s broader industrial growth story.

To further support the industry, the Union Budget allocated ₹40,000 crore under the Electronics Components Manufacturing Scheme, aimed at boosting domestic production capacity and reducing import dependence.

Farmley Turns Healthy Snacking into a 30-Day Habit with Gamified ‘Daily Fuel Challenge’

May 7: Healthy snacking brand, Farmley brought together consumers across the country for its 30-day ‘Daily Fuel Challenge’, generating over 1000 user-created recipe reels, 4.5 million+ views, and 7,000+ follower growth during the campaign period. The initiative saw participation from 50+ creators and consumers, culminating in 27 winners across multiple engagement tiers.

Structured as a month-long digital challenge, the initiative encouraged participants to create and share one recipe reel a day using products from the Daily Fuel Box. Participation ranged from everyday home cooks to creators with audiences exceeding 200,000. The limited-edition Daily Fuel Boxes were sold out during the campaign period, with over 500 boxes sold within a month.

At the centre of the campaign was a guided consumption model. The Daily Fuel Box combined curated products with recipe cards, a wooden easel, a ceramic bowl, a scoop, and a bingo-style tracker, simplifying how consumers could incorporate seeds and mixes into their daily routines and addressing a common category gap between purchase and sustained usage.

Designed around repeat engagement, the challenge introduced 30 recipe prompts and a visual progress format that encouraged consistency over a fixed cycle. Several participants completed all 30 days, reflecting sustained engagement beyond typical short-term digital campaigns.

As the challenge progressed, participants began interacting, exchanging ideas, and amplifying each other’s content, informally building a community often referred to as the ‘Intentional Food Club’. By linking consumption with content creation, the Daily Fuel Challenge reflects how healthy snacking brands are increasingly using participation-led formats to drive both engagement and sustained product usage.