Categories: Business

India, UAE officially begin trade in local currency

ABU DHABI: India and the United Arab Emirates have officially started trading with each other in local currency.

According to the Indian embassy in the UAE, Indian Oil Corporation has purchased one million barrels of oil from Abu Dhabi National Company and the payment was made in Indian rupees.

Earlier, an Emirati businessman sold 25kg of gold to an Indian buyer for Rs12.84 crore.

Web Desk

Recent Posts

Two Hyundai hydrogen buses added to Abu Dhabi’s Green Bus Programme

ABU DHABI: Juma Al Majid Co. LLC, the exclusive distributor for Hyundai in the UAE,…

17 hours ago

AIM Congress 2025 announces Regional Pitch Competition

ABU DHABI: AIM Congress 2025 has unveiled its much-anticipated 2025 Regional Pitch Competition, a platform…

18 hours ago

ADL unveils key insights on EX transformative role in driving organisational success

DUBAI: In a new report, Arthur D. Little (ADL) has unveiled key insights on the…

18 hours ago

Al Masaood’s Auto Central announces End-of-Year Mega Clearance Sale

ABU DHABI: Auto Central, Al Masaood’s multi-brand used cars centre, has announced its much-anticipated End-of-Year…

18 hours ago

Death Toll of Pakistani Migrants in Greek Boat Tragedy Rises to 40

Islamabad: The death toll of Pakistanis who drowned after multiple migrant boats capsized off the…

2 days ago

PM Shehbaz Sharif Arrives in Egypt to Attend D-8 Summit

Cairo: Prime Minister Shehbaz Sharif arrived in Cairo on Wednesday for a three-day official visit…

2 days ago