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Daily Tribune
7 days ago
- Business
- Daily Tribune
DANAT bolsters cooperation with India gemology institute
The Bahrain Institute for Pearls and Gemstones (DANAT) welcomed a high-level delegation from the Gemological Institute of India (GII), as part of a strategic visit aimed at enhancing cooperation and exchanging expertise in the field of gemology. The visiting delegation included Dr. A. V. R. Reddy, CEO of GII, and Mr. S. N. Desai, Member of the Board of Trustees. The visit commenced with a presentation by DANAT CEO Noura Jamsheer, who outlined the Institute's mission to uphold and promote the Kingdom of Bahrain's longstanding legacy as a global hub for pearls, gemstones, and jewelry. She highlighted DANAT's achievements in becoming a regional leader in pearl and diamond testing services, offering expert services to clients both locally and internationally. Initiatives Jamsheer also shed light on the Institute's wide-ranging initiatives, including its advanced training programs, scientific and field research on various pearl and gemstone types, and its active participation in prominent regional and international exhibitions and forums. She emphasised the vital role DANAT plays in supporting the Kingdom's economy by bolstering trust in the jewelry sector and expanding market access through high-quality testing and certification. Laboratory As part of the visit, the Indian delegation toured DANAT's state-of-the-art laboratory, where they were introduced to the latest technologies used in gemstone analysis. The tour included demonstrations of the advanced equipment, methodologies, and testing protocols employed by the institute, as well as an introduction to the skilled Bahraini professionals contributing to its global reputation. Dr. Reddy, CEO of the Gemological Institute of India, provided a detailed overview of GII's work in research, standardisation of gem testing, education, and the development of skilled professionals in the field. He also discussed the Institute's efforts to remain at the forefront of scientific advancements, underlining opportunities for future knowledge sharing between the two institutions. On this occasion, DANAT CEO Noura Jamsheer expressed her appreciation for the visit and affirmed DANAT's openness to developing deeper collaborations with esteemed institutions like GII.
The Star
20-05-2025
- Business
- The Star
Foreign inflows into Malaysian bonds surge to RM10.2bil in April
KUALA LUMPUR: Foreign net buying of Malaysian bonds surged to RM10.2 billion in April 2025 from RM3.2 billion in March, driven by strong demand for Malaysian Government Securities (MGS) and Government Investment Issues (GII), said RAM Rating Services Bhd (RAM Ratings). In a statement today, RAM Ratings said MGS and GII attracted RM9.7 billion of inflows in April, up from RM3.0 billion in the preceding month. Additionally, the increase in April was supported by Malaysian Treasury Bills (MTB) and Malaysian Islamic Treasury Bills (MITB), which recorded RM480 million in inflows -- a reversal of the RM252 million outflows in the previous month. "The surge in April marks the second consecutive month of net inflows, despite "Liberation Day' tariffs announced on April 2, 2025,' it said. According to RAM Ratings, the Liberation Day tariffs sparked a sharp increase in market turmoil, with the volatility index published by the Chicago Board Options Exchange - often called the "Fear Index' - rising to a high not seen since the start of the COVID-19 pandemic. "Heightened risk aversion contributed to a weakening of the ringgit against the US dollar in the first week of April, as the local currency swiftly depreciated to 4.50 against the greenback as at April 9 from 4.43 as of end-March. "The 10-year US Treasury (UST) yield soared to a high 4.48 per cent as at April 11 from 4.23 per cent as of end-March. Market jitters, however, soon subsided amid signs of easing US-China trade tensions. The ringgit rose to 4.32 against the US dollar as of end-April while the 10-year UST yield retreated to 4.17 per cent,' it added. RAM Ratings said that adding to yield volatility, Moody's Ratings downgraded the US sovereign credit rating to Aa1 from Aaa on May 16, citing structural fiscal concerns and the unsustainable trajectory of US debt -- this contributed to renewed weakness in US treasuries, triggering another round of repricing of US government debt. "The 10-year UST yield jumped to 4.46 per cent as at May 19 from 4.17 per cent as of end-April, as markets digest the downgrade alongside concerns of reduced foreign appetite for US debt. "The selloff pressure was relatively contained within the US as MGS yields largely trended sideways, with the benchmark 10-year MGS yield sitting at 3.64 per cent as at May 19 from 3.68 per cent as of end-April,' it said. - Bernama
India Gazette
11-05-2025
- Business
- India Gazette
Technology a force multiplier for inclusive growth, say techies on National Technology Day
New Delhi [India], May 11 (ANI): National Technology Day, celebrated on May 11 every year, commemorates the momentous events of this day back in 1998, when India conducted successful nuclear tests under Operation Shakti, and saw the maiden flight of the indigenously developed Hansa-3 aircraft. In recognition of these achievements, the then Prime Minister Atal Bihari Vajpayee declared May 11 as National Technology Day. Over the years, National Technology Day has evolved into a flagship occasion for honouring scientific excellence, showcasing industrial innovations, and reinforcing the partnership between science, society, and industry. Scientific temperament in India has increased over the years - from space to telecom, semiconductors to AI, biotechnology to fintechs. Here are some of the perspectives from people in technology domain on India's growing prowess: According to Ganesh Gopalan, Co-Founder and CEO, at AI services provider India's relentless pursuit of innovation, and a reminder of how technology can be a force multiplier for inclusive growth. 'Today, breakthroughs in Voice AI, multilingual large language models (LLMs), and agentic AI are empowering enterprises to build smarter, more human-centric solutions. From revolutionizing customer support and financial services to enabling real-time healthcare assistance in regional languages, AI is reshaping how industries operate and interact. As India's digital ecosystem accelerates, it is crucial that innovation remains responsible, ethical, and tailored to local as well as global needs,' Gopalan noted. India ranks 39th in the Global Innovation Index (GII), which presents vast opportunities for developing advanced, innovative and sustainable technologies which will help drive the country's digital vision forward. Anku Jain, Managing Director, MediaTek India, said, 'India's technology sector continues to be a strong pillar showcasing prominent and immense growth, powered by innovation in semiconductors, connectivity, and digital infrastructure. At MediaTek, we believe that fostering local R&D, strengthening the semiconductor ecosystem, and investing in skill development will be key to supporting India's ambitions as a global innovation hub.' The official theme for National Technology Day 2025 -- 'YANTRA - Yugantar for Advancing New Technology, Research & Acceleration.' 'National Technology Day is a celebration of India's spirit of innovation, a force that continues to shape a more sustainable and resilient future,' said Sriram Kannan, Founder and CEO, Routematic. 'As we pioneer AI and data-driven, eco-conscious mobility solutions, we witness every day how technology can reimagine urban transport, making it cleaner, smarter, and more efficient.' According to Rupesh Kumar, Co-Founder and CTO, Suhora Technologies, technology today is no longer confined to research labs; it permeates every aspect of our lives, from defence and national security to smart farming and sustainable cities to precision healthcare and digital finance. 'The space industry, particularly the downstream segment, is no exception. AI is now revolutionising the way we process and analyse Earth observation data, making it faster, smarter, accurate and more efficient,' Rupesh Kumar added. (ANI)
Time of India
06-05-2025
- Business
- Time of India
India ranked at 130 out of 193 on human development index marking improvement of 3 points
NEW DELHI: India ranked at 130 out of 193 countries in 2023 on the human development index marking a 3 point improvement from 133 in the previous year. According to UNDP 's human development report 2025 released today, India also showed progress in reducing gender inequality finding itself ranked at 102 on the gender inequality index (GII) out of 193, as compared to 108 out of 166 countries in 2022. Tired of too many ads? go ad free now However, as far as India's performance on the gender development index goes its score in 2023 is 0.874 keeping it in group 5 countries that have ranked low on eradicating the gap. With an HDI value of 0.685 while India remains in the 'medium human development category' it is moving closer to the threshold for high human development which calls for a value of more than 0.700. India's HDI value has increased by over 53 per cent since 1990, growing faster than both the global and South Asian averages. 'This progress has been fueled by economic growth and targeted social protection and welfare programmes,' UNDP notes. India life expectancy at birth contributed among other factors to the improved ranking which was 71.7 years in 2022 and rose to 72 years in 2023. Citing that life expectancy was 58.6 years in 1990 UNDP highlights that life expectancy is the highest since the inception of the index, signaling a strong recovery from the pandemic and its impact on life expectancy. UNDP highlights that the national health programmes by successive governments such as the national rural health mission, ayushman bharat , janani suraksha yojana, and poshan abhiyaan have contributed significantly to this achievement. Expected years of schooling remain almost the same at nearly 13 over 2022 and 2023. Mean years of schooling rose marginally to 6.9 in 2023 from 6.6 in the previous year. Gross National Income per capita rose to $9047 from $8475 in 2022. Tired of too many ads? go ad free now 'Children today are expected to stay in school for 13 years on average, up from 8.2 years in 1990. Initiatives like the Right to Education Act , samagra shiksha Abhiyan, the national education policy 2020 have enhanced outcomes. However, quality and learning outcomes remain areas for continued focus. On the economic front, India's gross national income per capita rose over four times, from $2167.22 (1990) to $9046.76 (2023) based on 2021 PPP $. 'Over the years, India's progress on economic growth and investments in programmes like MGNREGA, jan dhan yojana, and digital inclusion have contributed to poverty reduction. Importantly, 135 million Indians escaped multidimensional poverty between 2015-16 and 2019-21,' the UNDP said in its statement. However, challenges persist. The report highlights that inequality reduces India's HDI by 30.7 per cent, one of the highest losses in the region. While health and education inequality have improved, income and gender disparities remain significant. Female labour force participation and political representation lag, though recent steps, such as the constitutional amendment reserving one-third of legislative seats for women—offer promise for transformative change. Bangladesh at the same rank as India at 130, Nepal at 145 and Bhutan at 125 share space with India in 'medium human development' category. Pakistan's score worsened from 164 to 168 and Afghanistan improved by a point ranking at 181. Both countries figure in the low human development category. China at 78 and Sri Lanka at 89 continue to figure in the 'high human development' category. Iceland with an HDI value of 0.972 ranked at the top of the Index followed by Norway and Switzerland and South Sudan was at the bottom at 193 with a value of 0.388. Congratulating India for its notable progress in the Human Development Index, rising from rank 133 in 2022 to 130 in 2023, Angela Lusigi , resident representative, UNDP India said this advancement reflects sustained improvements in key dimensions of human development, particularly in mean years of schooling and national income per capita. 'India's life expectancy reaching its highest level since the inception of the index is a testament to the country's robust recovery from the pandemic and its investments and commitment to long-term human well-being,' Angela Lusigi, resident representative, she added. 'With a renewed focus on women-led development, quality education and healthcare for all India is well positioned to achieve inclusive growth and continued progress on human development,' Lusigi further added. Meanwhile, global trends reflect that human development progress has slowed to an unprecedented 35-year low The 2025 human development report. "A matter of choice: people and possibilities in the age of Artificial Intelligence (AI)" shows that projections for 2024 reveal stalled progress on the HDI in all regions across the world. However,it also highlights that Artificial Intelligence (AI) could reignite development. Findings of a new survey show that 60% of people are hopeful Artificial Intelligence will create new job opportunities. According to the report, global trends reflect that instead of seeing sustained recovery following the period of exceptional crises of 2020-2021, the report reveals unexpectedly weak progress. Excluding those crisis years, the meagre rise in global human development projected in this year's report is the smallest increase since 1990. 'For decades, we have been on track to reach a very high human development world by 2030, but this deceleration signals a very real threat to global progress,' said Achim Steiner , UNDP administrator. 'If 2024's sluggish progress becomes 'the new normal', that 2030 milestone could slip by decades – making our world less secure, more divided, and more vulnerable to economic and ecological shocks,' Steiner said. For the fourth year in a row inequality between Low HDI and Very High HDI countries continues to increase, according to the report. This reverses a long-term trend that has seen a reduction in inequalities between wealthy and poor nations. 'Amidst this global turmoil, we must urgently explore new ways to drive development,' the UNDP administrator asserted.
Zawya
19-03-2025
- Business
- Zawya
UK's Financial Conduct Authority authorises GII portfolio company Offa for Home Purchase Plans
Dubai, UAE – Britain's Financial Conduct Authority (FCA) has authorised Offa, a portfolio company of Gulf Islamic Investments (GII), to provide home purchase plans (HPPs), the Sharia-compliant alternative to conventional residential mortgages, for customers across the UK. The authorisation will soon allow Offa, the UK's leading Islamic property finance fintech, which has been expanding rapidly via acquisitions, staff hires and product launches, to become the third active provider of HPPs in the market. Offa believes that this is the first licence by the FCA for a home purchase plan to a newly-authorised entity in more than seven years. It is another major accomplishment for Offa, the first Sharia-compliant bridging finance provider and the team that previously introduced the first Sharia-compliant buy-to-let (BTL) product to the UK. Commenting on the announcement, GII's co-Founders and co-CEOs, Mohammed Alhassan and Pankaj Gupta, said: 'We are delighted that the FCA has authorised one of our portfolio companies, Offa, to provide home purchase plans to British customers. This is another important step in their aggressive growth plans and we are expecting further exciting announcements in the near future.' Sultan Choudhury OBE, Executive Chairman at Offa, said: 'This is a significant and hard-won milestone for us at Offa. The real winners of course will be our customers, who will now gain greater access to our fast and easy Islamic home finance services thanks to our modern, tech-driven and paperless systems. 'By combining our teams' decades of industry experience with the latest technology, we are bringing Islamic finance into the 21st century, leaving behind the onerous paperwork and cumbersome systems that many customers have typically had to suffer in the past Gaining this important authorisation is another step toward achieving that.' Since charging interest is forbidden in Islamic finance, a Home Purchase Plan involves the Islamic finance principles of co-ownership-with-leasing where customers acquire the property in partnership with Offa and make monthly payments to increase their share, over time owning it. Offa recently acquired Bank of Ireland's Alburaq Sharia-compliant home finance portfolio in a landmark deal utilising a unique funding structure, including more than 350 home purchase plans. The company provides an ethical finance model designed in accordance with Islamic finance principles, which means not charging interest and investment into sectors deemed harmful to society – such as alcohol, tobacco, animal testing, and the arms trade.
