Author: Gulf Times

  SLAMABAD: Pakistan’s central bank chief signed a Memorandum of Understanding (MoU) with the Arab Monetary Fund (AMF) in Abu Dhabi on Friday to create a cooperative framework for an instant cross-border payment system, enhancing the swift flow of remittances.The initiative is pivotal as a considerable number of Pakistanis, employed in varied sectors like construction, services, health care, and IT in the Middle East, send significant amounts of money that are a cornerstone of Pakistan’s economy.Established in 1976, the AMF is an organization with key members such as Saudi Arabia and the UAE, and is committed to advancing financial cooperation…

President Sheikh Mohamed and Emirati astronaut Sultan Al Neyadi on Friday led the celebrations as the nation came together to mark  UAE Flag Day. The UAE leader proudly raised the national flag at a ceremony at Qasr Al Hosn in Abu Dhabi alongside the trailblazing explorer, who returned to Earth in September after a six-month mission aboard the International Space Station. Flag Day is observed on November 3 each year to celebrate the accession of the late Sheihk Khalifa as President of the UAE in 2004. “On Flag Day, we stand in unity to raise the UAE flag which…

  Bahrain normalised ties with Israel in 2020 as part of the controversial Abraham Accord, in which the UAE and Morocco also established relations. Bahrain said it has expelled the Israeli ambassador to Manama and recalled its envoy from Tel Aviv on Thursday, citing the ongoing Israeli war on Gaza where nearly 9,000 Palestinians have been killed. In a statement, the Bahraini parliament said the moves were part of measures taken in support of “the Palestinian cause and the legitimate rights of the Palestinian people”. “We confirm the departure of the Israeli ambassador to the country, the return of the…

  Buying, selling rates may differ when considering the currency exchange or open market rates On Wednesday, the exchange rate for the UAE Dirham (AED) to the Pakistani Rupee (PKR) stands at Rs76.53. This marks a slight decrease of 10 paisas compared to the previous rate of Rs76.63. This change in the AED to PKR rates within Pakistan’s currency exchange market has caught the attention of many. The interbank conversion rate currently sits at Rs76.53, and it’s worth noting that rates may vary in the open market, both for buying and selling. The 10 paisas drop in the UAE Dirham…

  Canada-based singer clarified that a fan had thrown hoodie to him Punjabi rapper Shubhneet Singh, widely known as Shubh, has called for an end to the spread of “hate and negativity” following a recent controversy surrounding a hoodie he displayed during a concert in London. The recent controversy stemmed from a concert in London where videos circulating online showed Shubh picking up a black hoodie from the floor and displaying it to the audience. Critics argued that the hoodie featured a map of Punjab and an image of India’s former prime minister Indira Gandhi who was assassinated by her…

he murder toll from the ongoing Israeli incursions in the Gaza Strip has mounted to at least 8,805 Palestinians, including 3,648 children. An emotional Ons Jabeur has announced that she will be donating a portion of her GNP Seguros WTA Finals Cancun prize money to Palestinians facing Israeli aggression. The World No.7 said she could not be happy with her victory at the season-ending championships due to the rising death toll in Gaza, where nearly 9,000 have been killed by relentless Israeli bombing. “I am very happy with the win, but I haven’t been happy lately, to be honest with…

DEFENDING CHAMPIONS DECCAN GLADIATORS TO PLAY NEW YORK STRIKERS IN ABU DHABI T10 SEASON 7 OPENING GAME ON NOV 28 ~ ABU DHABI T10 SEASON 7 FROM NOVEMBER 28TH – DECEMBER 9TH~ Abu Dhabi, 2nd November 2023: Cricket’s fastest tournament, Abu Dhabi T10 is set to return for an exciting 7th edition on November 28th, 2023, and this time, cricket lovers will be in for a treat as the defending Champions Deccan Gladiators will open the season against the runners-up from the last season, New York Strikers in the first match of the competition. Gladiators had won the prestigious title…

The Ministry of the Economy (MoEc) signed a partnership agreement with the International Compliance Association (ICA) to implement a specialised training programme on anti-money laundering for the Ministry employees and private sector businesses, especially Designated Non-Financial Businesses and Professions (DNFBPs), starting January 2024. The agreement aligns with the UAE’s efforts to promote awareness of the culture of compliance within the private sector and the importance of combatting money laundering and terrorism financing. The agreement was signed by Abdullah Ahmed Al Saleh, Undersecretary of the Ministry of Economy, and Pekka Dare, President of ICA. He added that the agreement further aims to develop…

The UAE has been rated the world’s second most stable country economically on the back of entrepreneurship opportunities, easy access to capital, availability of skilled labour force, agility to adapt, competitiveness and strong trade among, others, a new study said. According to the US News & World Reports, the UAE also boasts per capita gross domestic product on par with those of top Western European nations as well as the most competitive economy in the Arab world. The UAE has a total GDP of $508 billion (Dh1.86 trillion) and a per capita income of $87,729. The second largest economy in the…

Authorities on Wednesday launched a crackdown on illegal immigrants across the country as the deadline for undocumented foreigners expired a day earlier, while thousands of illegal Afghan migrants have voluntarily returned to Afghanistan. Undocumented foreigners in different parts of the country including Karachi, Rawalpindi and others are being detained and moved to holding centres before being repatriated to their respective countries. Caretaker Interior Minister Sarfraz Bugti on Tuesday announced that the government would start a crackdown on undocumented immigrants, including hundreds of thousands of Afghan nationals, from Thursday (November 2). “Only two days are left for a voluntary return,”…