Latest news with #financialcollaboration
Times of Oman
4 days ago
- Business
- Times of Oman
India, US to "coordinate in the upcoming" Financial Action Task Force (FATF) processes
Washington DC: Foreign Secretary Vikram Misri engaged in several high-level engagements with senior officials of the US Administration. Misri held talks with Deputy Secretary of the Treasury Michael Faulkender, where they discussed collaboration in the upcoming Financial Action Task Force (FATF) processes. "With Deputy Secretary of the Treasury Financial Action Task Force Financial Action Task Force, the Foreign Secretary discussed ways to deepen economic and financial ties, including collaboration in international financial institutions and coordination in the upcoming Financial Action Task Force (FATF) processes," a statement by the Ministry of External Affairs read. Sources say India will spare no effort to bring Pakistan onto the grey list during the FATF proceedings. The global money laundering and terrorist financing watchdog has been informed about India's intentions. Sources say that India will send a detailed dossier to the FATF, outlining evidence and concerns regarding the involvement of certain entities and individuals in terror financing and money laundering activities. The dossier will highlight India's findings and demand strict scrutiny and action by the FATF under international protocols. Meanwhile, FS Misri held talks for the inter-agency discussions on the India-US COMPACT for the 21st century. "During his visit, Misri held wide-ranging discussions with counterparts across the Department of State, National Security Council, Department of Defense, Department of the Treasury, and the Department of Commerce," the statement said. Misri also held talks with Deputy Secretary of State Christopher Landau, where they agreed that Tech-Trade-Talent will shape the India-US partnership in the 21st century. "At a luncheon meeting with Deputy Secretary of State Christopher Landau, both sides reviewed the full spectrum of the bilateral agenda. They underscored that Technology, Trade, and Talent would be the key pillars shaping the India-US partnership in the 21st century," the statement said. "In meetings with Deputy Secretary of Defence Steve Feinberg and Under Secretary for Policy Elbridge Colby, both sides reaffirmed their commitment to a robust and forward-looking defence partnership. Discussions focused on co-production and co-development initiatives, sustained joint military exercises, logistics and information-sharing frameworks, and enhancing interoperability between the armed forces," the statement added. Misri also held talks with Under Secretary of Commerce Jeffrey Kessler and reviewed progress on the India-US Bilateral Trade Agreement. "In his meeting with Under Secretary of Commerce Jeffrey Kessler, both sides reviewed progress on the India-US Bilateral Trade Agreement, cooperation in critical and emerging technologies, and the need to streamline ITAR and export control regulations. They agreed to convene the next meeting of the India-US Strategic Trade Dialogue at the earliest opportunity," the statement said. "Consistent with the vision outlined in the COMPACT, detailed inter-agency discussions were held on a range of strategic areas including defence cooperation, energy security, TRUST initiative, counter-terrorism, the Indian Ocean Strategic Venture, and collaboration through platforms such as the Quad, I2U2, and IMEEC," the statement added. Misri, along with US Deputy National Security Advisor Pavan Kapoor, also held talks on deepening bilateral collaboration in critical and emerging technologies. Foreign Secretary Vikram Misri visited Washington, DC from May 27-29, 2025, for a series of high-level engagements with senior officials of the US Administration. The visit was a follow-up to the Prime Minister's visit to the United States on February 13, 2025, during which both sides launched the India-US COMPACT (Catalysing Opportunities for Military Partnership, Accelerated Commerce & Technology) for the 21st Century. Deputy National Security Advisor Shri Pavan Kapoor was also part of the Indian delegation.
Zawya
15-05-2025
- Business
- Zawya
Qatar's QFC partners with HKTDC and Hang Seng Indexes Company
Qatar and Hong Kong are establishing a framework of co-operation to share sector-specific insights and facilitate market access for businesses from both regions. In this regard, the Qatar Financial Centre Authority (QFCA) has signed a memorandum of understanding (MoU) with the Hong Kong Trade Development Council (HKTDC) and a heads of terms (HoT) with Hang Seng Indexes Company Limited (HSIL). The signings – which mark a significant step in advancing trade, investment, and financial collaboration between Qatar and Hong Kong – recently took place during the visit of the business delegation from Hong Kong and Mainland China led by John Lee, the chief executive of Hong Kong Administrative Region of China, to Doha. Highlighting that the MoU with HKTDC establishes a framework of co-operation to share sector-specific insights and facilitate market access for businesses from both regions; the QFC said the two parties will also collaborate in organising and supporting trade-related events such as forums and exhibitions, as well as cross-promote initiatives through their digital platforms. The agreement also includes provisions to promote Qatar's services internationally via HKTDC's platforms and provide regulatory guidance to Hong Kong companies entering the Qatari market through the QFC. The HOT with HSIL outlines joint efforts to increase market presence through stakeholder engagement and by leveraging each party's network and platforms. It includes co-operation on potential events and workshops, public education on capital markets, and data exchange. Additionally, the two parties will explore the feasibility of developing and promoting financial indices aligned with their strategic goals. 'These partnerships with HKTDC and HSIL mark an important milestone in our efforts to deepen strategic ties with Hong Kong and enhance Qatar's global connectivity. By fostering greater collaboration in trade, investment, and capital markets development, we are creating new pathways for growth and innovation that benefit both economies,' said QFCA chief executive officer Yousuf Mohamed al-Jaida. Dr Peter Lam Kin-ngok, chairman of the HKTDC, said with closer ties established through the signing of MoUs, there will be plenty of room to collaborate between its delegates and the QFC community. His remarks reflect HKTDC's commitment to facilitating deeper economic engagement and creating mutually beneficial opportunities for businesses in both regions. These agreements underscore QFC's commitment to expanding Qatar's global reach and strengthening its position as a hub for capital markets and international business. They also reflect the shared vision of Qatar and Hong Kong to foster long-term collaboration, paving the way for new investment and business opportunities between the two regions. © Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. (
Argaam
14-05-2025
- Business
- Argaam
PIF, Franklin Templeton sign MoU to invest $5B in Saudi financial markets
The Public Investment Fund (PIF) signed today, May 14, a non-binding memorandum of understanding (MoU) with Franklin Templeton Financial Co. (FTFC) to jointly invest up to $5 billion (SAR 18.8 billion) to further develop Saudi financial markets. These investments could cover Saudi equity and fixed income strategies in the public and private sectors, in a bid to broaden investment offerings for both Saudi and international investors, according to an official statement. Under the MoU, both entities will collaborate on a range of investment strategies and products in Saudi Arabia, stimulating opportunities that align with their shared objectives. Additionally, Franklin Templeton will deploy programs and initiatives to transfer knowledge, foster talent and promote innovation in the local asset management sector. The non-binding MoU is still subject to satisfying several terms and conditions, including obtaining all the necessary regulatory and internal approvals, while fulfilling some predetermined milestones. Headquartered in California with over 75 years of experience, Franklin Templeton is a leading global investment manager. With a 25-year presence in the Middle East, the firm further solidified its commitment to Saudi Arabia with the opening of its Riyadh-based headquarters in March 2024. As of April 2025-end, Franklin Templeton's total assets under management stood at nearly $1.53 trillion.
Zawya
14-05-2025
- Business
- Zawya
QFC partners with HKTDC and HSIL to deepen financial sector collaboration with Hong Kong
Doha – Qatar: Qatar Financial Centre Authority (QFCA), the legal and tax arm of the Qatar Financial Centre (QFC), a leading onshore financial and business centre in the region, has signed a Memorandum of Understanding (MOU) with the Hong Kong Trade Development Council (HKTDC) and a Heads of Terms (HOT) with Hang Seng Indexes Company Limited (HSIL). The signings, which mark a significant step in advancing trade, investment, and financial collaboration between Qatar and Hong Kong, took place during the visit of the business delegation from Hong Kong and Mainland China led by Mr. John Lee, the Chief Executive of Hong Kong Administrative Region of the People's Republic of China, to Doha on 11-12 May 2025. The MOU with HKTDC establishes a framework of cooperation to share sector-specific insights and facilitate market access for businesses from both regions. The two parties will also collaborate in organising and supporting trade-related events such as forums and exhibitions, as well as cross-promote initiatives through their digital platforms. The agreement also includes provisions to promote Qatar's services internationally via HKTDC's platforms and provide regulatory guidance to Hong Kong companies entering the Qatari market through the QFC. The HOT with HSIL outlines joint efforts to increase market presence through stakeholder engagement and by leveraging each party's network and platforms. It includes cooperation on potential events and workshops, public education on capital markets, and data exchange. Additionally, the two parties will explore the feasibility of developing and promoting financial indices aligned with their strategic goals. Commenting on the agreements, Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC, said: 'These partnerships with HKTDC and HSIL mark an important milestone in our efforts to deepen strategic ties with Hong Kong and enhance Qatar's global connectivity. By fostering greater collaboration in trade, investment, and capital markets development, we are creating new pathways for growth and innovation that benefit both economies. We look forward to working closely with our new partners to unlock fresh opportunities for businesses on both sides.' Commenting on the signing, Dr. Peter Lam Kin-ngok, Chairman of the Hong Kong Trade Development Council, said: 'With closer ties established through the signing of MoUs, I believe there will be plenty of room to collaborate between our delegates and the Qatar Financial Centre community.' His remarks reflect HKTDC's commitment to facilitating deeper economic engagement and creating mutually beneficial opportunities for businesses in both regions. These agreements underscore QFC's commitment to expanding Qatar's global reach and strengthening its position as a hub for capital markets and international business. They also reflect the shared vision of Qatar and Hong Kong to foster long-term collaboration, paving the way for new investment and business opportunities between the two regions. ABOUT THE QATAR FINANCIAL CENTRE The Qatar Financial Centre (QFC) is an onshore business and financial centre located in Doha, providing an excellent platform for firms to do business in Qatar and the region. The QFC offers its own legal, regulatory, tax and business environment, which allows up to 100% foreign ownership, 100% repatriation of profits, and charges a competitive rate of 10% corporate tax on locally sourced profits. The QFC welcomes a broad range of financial and non-financial services firms. For more information about the permitted activities and the benefits of setting up in the QFC, please visit @QFCAuthority | #QFCMeansBusiness MEDIA CONTACT QFC Corporate Communications Rasha Kamaleddine | E.
