Latest news with #Gulf-based
News18
2 days ago
- News18
Textiles Store Front For 'Lashkar Module' Busted In Delhi's Lajpat Nagar, 2 Arrested
Last Updated: Raids at the textiles shop blew the lid off a cross-border terror funding network linked to Pakistan-based LeT, which was allegedly pumping funds into Kashmir for terror activities The counter-intelligence Kashmir unit of Jammu and Kashmir police claimed to have busted a Lashkar module masquerading as a textiles store in New Delhi's Lajpat Nagar on Wednesday. The investigation blew the lid off a cross-border terror funding network linked to Pakistan-based Lashkar-e-Taiba (LeT), which was pumping funds into Kashmir for terror activities via couriers posing as pilgrims, businessmen, and expatriates, police said. According to the police, they carried out searches at a business unit by the name of 'Shalimar Textiles' in Lajpat Nagar, being run by a Budgam resident identified as Mohammad Ayoub Bhat. He was posing as a trader while serving as a key financial conduit for the LeT's terror activity in the Valley, the police said. His aide, identified as Mohammad Rafiq Shah, was also central to this covert financial operation, they said. Police seized digital evidence, including communications with suspected Pakistani handlers, foreign remittances via underground hawala networks, and encrypted chats with terror affiliates. These devices and documents are presently undergoing forensic analysis, they said. They said counter-intelligence teams, along with the Delhi Police, searched premises in Lajpat Nagar on warrants issued under the NIA Act. This operation is part of a broader investigation under a UAPA case. Police further said initial questioning of the accused suggests the involvement of an international terror funding network, involving foreign-based handlers, Gulf-based sympathisers, and local overground workers (OGW). view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Deccan Herald
4 days ago
- Deccan Herald
Duo held for illegally routing international telephone calls as local
Bengaluru: The Central Crime Branch (CCB) has arrested two men for running an international illegal telephone racket that converted foreign calls into local arrested are Fayaz MA, 31, and Mohammed Saffaf, 30, both from Mallapuram, Kerala. They were operating out of a rented house in Immdhalli for the past six months.."A foreign handler, based in a Gulf country, received money through the hawala route. The suspects ensured foreign calls were received locally at a low cost,' a police officer said..'The duo used SIM boxes and illegal apps to route international calls as local ones. The Department of Telecommunications (DoT) is yet to assess the financial loss. We are also verifying if these methods were used in any crimes,' the officer suspects earned around Rs 5 lakh per month and sourced illegal SIM cards from foreign countries. Officials said many Gulf-based immigrants, particularly labourers, used the service to contact their families in police said the racket not only caused revenue loss to telecom providers, but also posed a threat to national security. A detailed probe is police seized 702 SIM cards, nine SIM boxes, six routers, laptops, and mobile phones from the suspects.
Al Etihad
01-08-2025
- Business
- Al Etihad
FAB relocates to new London address cementing 48-year legacy in the UK
1 Aug 2025 16:07 LONDON/ABU DHABI (ALETIHAD)First Abu Dhabi Bank (FAB), the UAE's largest lender and one of the world's most secure financial institutions, has officially opened its new London branch, reinforcing a 48-year presence in the United inauguration was led by Hana Al Rostamani, Group Chief Executive Officer of FAB, and attended by a high-level UAE and UK delegation, including Sheikh Mohamed bin Saif Al Nahyan, Vice Chairman of FAB; Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and FAB Board Member; Mansoor Abulhoul, UAE Ambassador to the UK; The Rt Hon Douglas Alexander MP, UK Minister for Trade Policy and Economic Security; as well as FAB Board members Sheikh Ahmed Mohammed Sultan S. Aldhaheri and Mohammed Thani Murshed Ghannam in 1977 through its predecessor, the National Bank of Abu Dhabi (NBAD), FAB became the first Gulf-based bank to operate in the UK. The new office, located at 20 Berkeley Square in Mayfair—a site long linked to heritage and diplomacy—underscores FAB's commitment to client trust and London's role as a global financial hub.'Over the past 48 years, the ties between the UK and UAE have deepened, with bilateral trade growing significantly to £24.3 billion today,' said Hana Al Rostamani. 'The opening of our new London office is more than a relocation; it marks a strategic hub for the future of finance, a place where global insight meets regional expertise. The UK will remain a key market for FAB as we strengthen our international presence and deepen client engagement.'The new branch features purpose-built spaces for private banking, corporate advisory, and bespoke services. Clients will gain access to wealth planning, portfolio management, and family office solutions, bolstered by FAB's strong MENA network and digital global reach now spans over 20 international markets, with international operations accounting for 17% of group income. In 2023, the bank listed $1.1 billion in bonds and sukuk on the London Stock Exchange. Coinciding with the office launch, FAB unveiled a cultural campaign highlighting the UK-UAE creative relationship through artist films and immersive storytelling that explore identity, legacy, and innovation. Source: Aletihad - Abu Dhabi
Time of India
27-07-2025
- Business
- Time of India
Second airport backed by Abu Dhabi inaugurated in the Maldives with AED 330.5 million investment
The Velana International Airport project was co-financed by ADFD alongside the Saudi Fund for Development, Kuwait Fund for Arab Economic Development, and OPEC Fund for International Development/ Image: WAM The Republic of Maldives and the United Arab Emirates have marked another milestone in a longstanding partnership centered on sustainable development and infrastructure enhancement. Over four decades of cooperation through the Abu Dhabi Fund for Development (ADFD) has seen the successful implementation of critical projects across sectors like tourism, energy, transportation, and healthcare. Most recently, two significant aviation projects, Maafaru International Airport earlier this month and Velana International Airport today, stand as the latest additions to a portfolio exceeding AED 1.11 billion (approx. USD 302 million). These projects are not only infrastructural upgrades but also strategic interventions to enhance connectivity, drive economic growth, and position Maldives as a global hub. Velana Airport Inaugurated on Maldives' 60th Independence Anniversary The Government of Maldives today inaugurated the Velana International Airport, a flagship development aligned with the country's strategic infrastructure goals, with participation from the Abu Dhabi Fund for Development (ADFD) highlighting its key role in the project. The event coincided with the 60th anniversary of the Maldives' independence, adding symbolic significance to the unveiling of this high-impact development. The airport's transformation was made possible by a total investment of AED 330.5 million (USD 90 million) from ADFD, executed in two phases, and co-financed by the Saudi Fund for Development, the Kuwait Fund for Arab Economic Development, and the OPEC Fund for International Development. This multi-stakeholder cooperation highlights a shared commitment among Gulf-based development partners to support inclusive and sustainable growth in developing nations. The inauguration ceremony saw the presence of prominent leaders and officials, including: Dr. Mohamed Muizzu, President of the Republic of Maldives Mohamed Saif Al Suwaidi , Director-General of ADFD Rahma bin Abdulrahman Al Shamsi, UAE Ambassador to the Republic of Maldives Senior representatives from the partnering development funds and both governments The upgraded Velana Airport can now accommodate over 7 million passengers annually, a major boost to the nation's capacity to handle international travel and tourism. Key features of the project include: Expansion of the western passenger terminal Installation of 26 passenger boarding bridges Development of a state-of-the-art international terminal. These infrastructure upgrades aim to position Velana International Airport as a vital commercial, tourism, and investment hub in the Indian Ocean, enhancing the Maldives' global competitiveness in aviation and hospitality. During the inauguration, President Dr. Mohamed Muizzu expressed heartfelt gratitude to His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, for the enduring support shown by the UAE towards the Maldives' development goals. 'ADFD's financing of Velana International Airport, in partnership with international collaborators, reflects our shared commitment to achieving sustainable development goals and demonstrates a long-term strategic vision for infrastructure development and growth in developing nations. The opening of this airport will further enhance the Maldives' position in the global aviation sector,' he said, adding that the project marks a key step in strengthening the country's global aviation presence. Mohamed Saif Al Suwaidi, Director-General of ADFD, highlighted the significance of the collaboration as a model for regional cooperation in sustainable development: 'Through our partnership with the Government of Maldives and regional development institutions, we have collectively contributed to the country's economic and social growth. Coinciding with the Maldives' Independence Day celebrations, the inauguration of Velana International Airport underscores our ongoing commitment to ensuring greater resource efficiency and supporting our partner nations to build a resilient economy and prosperous future,' he said, noting that the project reflects ADFD's broader mission to support impactful, long-term growth in partner countries. Maafaru Airport Sets the Stage for Regional Connectivity The Velana project follows the recent launch of Maafaru International Airport on 8th July 2025, another high-impact ADFD-funded initiative aimed at improving access to the country's northern islands and luxury resorts. Constructed with an investment of AED 367 million (USD 100 million), Maafaru Airport includes a 2,850-metre-long and 45-metre-wide runway, capable of receiving large wide-body aircraft including Airbus A330 and Boeing 777. The airport is designed to serve as a key gateway to seven surrounding luxury resorts, playing a pivotal role in driving tourism revenue and employment in the region. The inauguration ceremony was attended by: Mohamed Saeed, Minister of Economic Development and Trade of the Maldives Dr. Abdulla Muththalib , Minister of Construction, Housing and Infrastructure Mohamed Saif Al Suwaidi, Director-General of ADFD During the event, Minister Mohamed Saeed extended his appreciation to UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan, noting the strategic value of the bilateral relationship and the UAE's unwavering commitment to supporting sustainable development in the Maldives. He also acknowledged ADFD's vital role in helping the country implement transformative projects and strengthen key economic sectors such as transport and tourism. Partnership Built Over Four Decades The Maldives' development partnership with the Abu Dhabi Fund for Development (ADFD) began in 1978. Since then, ADFD has financed 11 strategic projects across vital sectors such as transportation, tourism, energy, and healthcare, with total investments exceeding AED 1.11 billion (USD 302 million). The recently inaugurated airport projects are a continuation of this enduring collaboration, aligning with the Maldives' national development agenda and the UAE's broader vision for international cooperation and sustainable growth. Established in 1971, ADFD is one of the UAE's leading financial institutions, focused on supporting infrastructure development in emerging economies. The Fund manages UAE government grants for key strategic projects and follows a diversified investment strategy that enhances economic resilience in partner countries. It also finances UAE-based private sector companies to help expand their global reach and competitiveness.
Time of India
27-07-2025
- Business
- Time of India
Abu Dhabi-backed Velana International Airport in Maldives inaugurated with AED 330.5 million investment
The Velana International Airport project was co-financed by ADFD alongside the Saudi Fund for Development, Kuwait Fund for Arab Economic Development, and OPEC Fund for International Development/ Image: WAM The Republic of Maldives and the United Arab Emirates have marked another milestone in a longstanding partnership centered on sustainable development and infrastructure enhancement. Over four decades of cooperation through the Abu Dhabi Fund for Development (ADFD) has seen the successful implementation of critical projects across sectors like tourism, energy, transportation, and healthcare. Most recently, two significant aviation projects, Maafaru International Airport earlier this month and Velana International Airport today, stand as the latest additions to a portfolio exceeding AED 1.11 billion (approx. USD 302 million). These projects are not only infrastructural upgrades but also strategic interventions to enhance connectivity, drive economic growth, and position Maldives as a global hub. Velana Airport Inaugurated on Maldives' 60th Independence Anniversary The Government of Maldives today inaugurated the Velana International Airport, a flagship development aligned with the country's strategic infrastructure goals, with participation from the Abu Dhabi Fund for Development (ADFD) highlighting its key role in the project. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo The event coincided with the 60th anniversary of the Maldives' independence, adding symbolic significance to the unveiling of this high-impact development. The airport's transformation was made possible by a total investment of AED 330.5 million (USD 90 million) from ADFD, executed in two phases, and co-financed by the Saudi Fund for Development, the Kuwait Fund for Arab Economic Development, and the OPEC Fund for International Development. This multi-stakeholder cooperation highlights a shared commitment among Gulf-based development partners to support inclusive and sustainable growth in developing nations. The inauguration ceremony saw the presence of prominent leaders and officials, including: Dr. Mohamed Muizzu, President of the Republic of Maldives Mohamed Saif Al Suwaidi , Director-General of ADFD Rahma bin Abdulrahman Al Shamsi, UAE Ambassador to the Republic of Maldives Senior representatives from the partnering development funds and both governments The upgraded Velana Airport can now accommodate over 7 million passengers annually, a major boost to the nation's capacity to handle international travel and tourism. Key features of the project include: Expansion of the western passenger terminal Installation of 26 passenger boarding bridges Development of a state-of-the-art international terminal. These infrastructure upgrades aim to position Velana International Airport as a vital commercial, tourism, and investment hub in the Indian Ocean, enhancing the Maldives' global competitiveness in aviation and hospitality. During the inauguration, President Dr. Mohamed Muizzu expressed heartfelt gratitude to His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, for the enduring support shown by the UAE towards the Maldives' development goals. 'ADFD's financing of Velana International Airport, in partnership with international collaborators, reflects our shared commitment to achieving sustainable development goals and demonstrates a long-term strategic vision for infrastructure development and growth in developing nations. The opening of this airport will further enhance the Maldives' position in the global aviation sector,' he said, adding that the project marks a key step in strengthening the country's global aviation presence. Mohamed Saif Al Suwaidi, Director-General of ADFD, highlighted the significance of the collaboration as a model for regional cooperation in sustainable development: 'Through our partnership with the Government of Maldives and regional development institutions, we have collectively contributed to the country's economic and social growth. Coinciding with the Maldives' Independence Day celebrations, the inauguration of Velana International Airport underscores our ongoing commitment to ensuring greater resource efficiency and supporting our partner nations to build a resilient economy and prosperous future,' he said, noting that the project reflects ADFD's broader mission to support impactful, long-term growth in partner countries. Maafaru Airport Sets the Stage for Regional Connectivity The Velana project follows the recent launch of Maafaru International Airport on 8th July 2025, another high-impact ADFD-funded initiative aimed at improving access to the country's northern islands and luxury resorts. Constructed with an investment of AED 367 million (USD 100 million), Maafaru Airport includes a 2,850-metre-long and 45-metre-wide runway, capable of receiving large wide-body aircraft including Airbus A330 and Boeing 777. The airport is designed to serve as a key gateway to seven surrounding luxury resorts, playing a pivotal role in driving tourism revenue and employment in the region. The inauguration ceremony was attended by: Mohamed Saeed, Minister of Economic Development and Trade of the Maldives Dr. Abdulla Muththalib , Minister of Construction, Housing and Infrastructure Mohamed Saif Al Suwaidi, Director-General of ADFD During the event, Minister Mohamed Saeed extended his appreciation to UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan, noting the strategic value of the bilateral relationship and the UAE's unwavering commitment to supporting sustainable development in the Maldives. He also acknowledged ADFD's vital role in helping the country implement transformative projects and strengthen key economic sectors such as transport and tourism. Partnership Built Over Four Decades The Maldives' development partnership with the Abu Dhabi Fund for Development (ADFD) began in 1978. Since then, ADFD has financed 11 strategic projects across vital sectors such as transportation, tourism, energy, and healthcare, with total investments exceeding AED 1.11 billion (USD 302 million). The recently inaugurated airport projects are a continuation of this enduring collaboration, aligning with the Maldives' national development agenda and the UAE's broader vision for international cooperation and sustainable growth. Established in 1971, ADFD is one of the UAE's leading financial institutions, focused on supporting infrastructure development in emerging economies. The Fund manages UAE government grants for key strategic projects and follows a diversified investment strategy that enhances economic resilience in partner countries. It also finances UAE-based private sector companies to help expand their global reach and competitiveness.
