The new entity, Ambit Global Private Client (MENA) Limited, is the result of the strategic acquisition of Dubai-based Moonrock Investments Ltd by Ambit
non-resident Indians
Latest in non-resident Indians
Indian real estate sector
Indian real estate developers target NRIs in Dubai, US, UK amid housing sales slowdown: Report
The move comes against the backdrop of a major plunge in the rupee’s value against the US dollar and other major currencies, which enhances NRIs’ purchasing power
currency pegged to dollar
Rupee collapse: UAE NRIs switch to dollars as US economic outlook brightens
The new trend of NRIs holding their investments in USD and AED is linked to the changing profiles of Indian expats in the UAE – and the wider Gulf region
indian expats
Massive spike in remittances by Gulf-based NRIs as rupee nosedives to record levels
The rupee’s sharp decline is likely to drive a further increase in non-resident Indian (NRI) remittances, particularly from the Gulf region
Dubai
Dubai real estate: The ultimate guide for NRIs investing in the property market, according to experts
What is drawing Non-Resident Indians (NRIs) to Dubai’s real estate market, and what should they know before investing? Experts weigh in
business leaders
Prominent Indian businessman Ram Buxani dies in Dubai at 83
Buxani, previously the chairman of ITP Cosmos Group, arrived in Dubai in November 1959 when he started his career as an office assistant at the age of 18
non-resident Indians
NRI remittances to India hit $107bn in FY24: Report
This is the second year in a row expat Indian remittances cross the $100 bn mark
Indian NRIs
NRI bank deposits in India show a trend reversal; sees $1bn inflow in April
Analysts said a considerable momentum was visible in NRI bank deposits in India during FY24, particularly since May 2023
Income Tax
Indian court clarifies tax rules for non-residents working abroad
The ruling will have a major bearing for hundreds of thousands of Indian employees working overseas
India
NRIs under scrutiny: India’s IT Department cracks down on tax evasion: Report
The tax department has issued notices to numerous NRIs, requesting signed affidavits confirming their non-resident status and specifying the days spent in India
banking business
HSBC hires senior private banking executive from UBS to serve wealthy Indians
Gautam Anand previously led a team at UBS that served wealthy Indians living overseas
Gulf region NRIs
India’s real estate market booms on NRI demand, Gulf expats lead investment surge
Industry players expect up to 30% jump in expat purchases in the last quarter of 2023, despite spike in home prices and no discount offers or freebies by developers
Gulf’s Richest Indians
UAE is home to second largest number of wealthy Indians globally, after US
Dubai is home to most wealthy Indians in the UAE, with 18 of the 20 richest based in the city, according to the Hurun report
non-resident Indians
NRI investment in Indian property market surges 15% in H1 2023
Non-resident Indian (NRI) investments, especially from the Gulf region, are expected to see a further surge in the approaching festive season
1 aed to indian rupees
Falling rupee, festival season to push up remittances by Gulf-based expat Indians
Currency market experts expect rupee to cross ₹84 per dollar in near-term basis, fuelled by a multi-week high rise in dollar index and crude prices
Educational institutions
India to support initiatives to start schools in Gulf countries teaching the Indian curriculum
UAE has largest number of Indian schools in Gulf
banking business
HSBC returns to private banking in India with ambitious plans
HSBC’s efforts to convince prospective Indian clients that its wealth management services in the country will not make a retreat again are a linchpin for its ambitious plans there