Category: Business

Kochi, May 07: Federal Bank has announced the integration of the Employees’ Provident Fund Organisation (EPFO) payment facility into its digital platforms, enabling customers to make EPFO payments securely through the Bank’s Net Banking system. The new feature aims to provide a seamless, efficient, and hassle-free digital experience for users while supporting statutory compliance requirements.

The facility was officially launched at a ceremony held in New Delhi, attended by senior officials from EPFO, including Brij Mohan Singh, Regional P.F. Commissioner–I (Banking), Ajay Krishna Paliwal, Regional P.F. Commissioner–II (Banking), and Kapil Anand, EPFO official.

Representing Federal Bank, Anoop T, Senior Vice President & Country Head, Government and Institutional Business Department, along with other senior officials from the Bank, participated in the launch event.

Speaking on the development, Harsh Dugar, Executive Director of Federal Bank, said,

“True to our motto, ‘Digital at the Fore, Human at the Core,’ Federal Bank remains steadfast in its commitment to customers by introducing convenient, need-of-the-hour facilities. These initiatives enhance customer experience while enabling seamless engagement with government establishments and supporting the government’s collection mechanism.”

The service is available to all Federal Bank Net Banking customers and is designed to strengthen digital convenience while ensuring quick and secure EPFO payments for individuals and business organisations. By enabling online EPF remittances, the Bank aims to reduce the need for physical visits to offices, saving time, cost, and effort.

With this integration, Federal Bank continues to expand its digital payments ecosystem and reinforces its focus on delivering secure, reliable, and customer-centric banking solutions.

New Delhi, May 7 (BNP): The Global Energy Alliance for People and Planet has appointed renewable energy entrepreneur Tanya Singhal as Vice President for India, strengthening its leadership as it expands clean energy and grid modernisation initiatives in the country.

Singhal, known for her work in the renewable energy sector, joins the organisation at a time when India is accelerating efforts to improve power reliability, expand clean energy access, and modernise electricity infrastructure.

In her new role, she will lead initiatives focused on battery storage, grid digitalisation, and distributed renewable energy systems aimed at supporting India’s transition toward a more resilient and sustainable energy ecosystem.

The organisation said her appointment comes as it completes three years of operations in India, where it has been working on projects related to clean energy access, energy storage, and strengthening power systems while also supporting economic opportunities and job creation.

Singhal is the co-founder of SolarArise, a utility-scale solar platform that developed large grid-connected solar assets across multiple Indian states. During her tenure, the company expanded its renewable portfolio with significant infrastructure investments and later achieved a landmark transaction through an Infrastructure Investment Trust listed on the London Stock Exchange.

An alumna of Indian Institute of Technology Delhi, Singhal also previously worked as a strategy consultant before moving into the renewable energy sector.

Industry observers say her appointment reflects the growing importance of experienced clean energy leaders in driving India’s next phase of energy transition and infrastructure modernisation.

New Delhi, May 7 (BNP): Gold and silver prices rose by up to 1% on Thursday as global markets reacted to rising crude oil prices and ongoing geopolitical uncertainty linked to US–Iran negotiations, according to market data.

On the Multi Commodity Exchange (MCX), June gold futures touched an intraday high of ₹1,52,887, gaining 0.49%, while silver futures for July climbed as much as 1.49% to ₹2,57,055 during the session.

Internationally, precious metals also traded in positive territory. COMEX gold rose to around $4,703 per ounce, while silver gained over 1% to trade near $78.17 per ounce.

Analysts attributed the upward movement to continued safe-haven demand amid global uncertainty, including tensions in West Asia and concerns surrounding the ongoing US–Iran discussions. Market sentiment has been influenced by reports of negotiations involving nuclear-related commitments and strategic maritime routes.

A weaker US dollar, with the index trading below the 98 mark, also supported the rally in precious metals by making them more attractive to global buyers.

At the same time, rising crude oil prices added to inflationary concerns, further boosting demand for gold and silver as defensive assets. Brent crude traded above $102 per barrel, while WTI also recorded gains.

Market experts say precious metals may continue to remain supported in the near term, driven by geopolitical risks, currency movements, and energy market volatility.

India, May 07: Ebix Risk today announced the launch of the new Ebix COI, the next generation of its certificate of insurance (COI) management solution. The release introduces Policy & Contract Intelligence, an AI Assist Agent, and a new self-service model enabling organizations to manage COI compliance end-to-end, from intake through validation and resolution.

For most organizations, COI compliance remains fragmented. Certificates are collected and digitized, but validation is often performed against generic templates rather than actual contract requirements. Deficiencies are identified but not consistently resolved, leaving compliance gaps and ongoing operational risk.

Ebix COI is designed to close that gap.

Unlike extraction-only tools, the platform connects certificate data to the underlying contract, validates coverage against actual requirements, and drives follow-through to resolution. The result is a complete compliance process not just document processing.

At the core of the platform is more than 30 years of focused investment in COI management. Ebix has built one of the industry’s deepest datasets of certificates, policies, endorsements, and contractual exceptions capturing the edge cases that determine whether compliance decisions are accurate. The new Ebix COI applies modern AI to that foundation, enabling faster, more reliable decisions.

What’s New in Ebix COI

Policy & Contract Intelligence

• Contract Intelligence Lens reads vendor agreements, extracts requirements, and validates certificates against actual terms
• Policy Intelligence Lens surfaces deeper policy and endorsement insights

Closed-Loop Execution

• AI Assist Agent drives deficiency identification, vendor outreach, and resolution follow-through

Scalable Operations

• AI–powered extraction captures certificate data accurately at scale
• Self-service workflows enable in-house teams to manage compliance directly

From Intake to Resolution

Policy & Contract Intelligence ensures compliance is verified against what each contract actually requires not a generic checklist. By reading agreements first and validating certificates accordingly, organizations gain a more accurate view of compliance risk while reducing manual review.

The AI Assist Agent extends this further by executing key workflows helping ensure that identified deficiencies are not only flagged, but resolved.

Built on Domain Depth

In a rapidly evolving market, the differentiator is not access to AI models it is the depth of expertise behind them.

“The real opportunity is to turn certificate compliance into an intelligent risk and compliance workflow,” said Gagan Sethi, CEO of Ebix Technologies. “With the next generation of Ebix COI, we are connecting contract requirements, coverage validation, and deficiency resolution into one AI-enabled process. This creates a larger growth opportunity for Ebix in the risk and compliance market.” 

“Compliance teams don’t need another extraction tool. They need to know whether a certificate actually satisfies the contract, and what to do when it doesn’t,” said Robert Rodriguez Chief Technology Officer, Head of Technology & Product Strategy – Ebix Risk. “The next phase of this market won’t be won by who has the best AI model. It’ll be won by who has the best signal feeding it. After thirty years of building that signal in insurance compliance, Ebix COI is the first platform to put it directly in front of the AI making the call.”

 

Ras Al Khaimah, May 07: In the presence of HH Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah, Ras Al Khaimah Economic Zone (RAKEZ) signed two strategic agreements – with MAGRABi Retail Group and Mighty Industrial Park – during the 5th edition of Make it in the Emirates (MIITE), held at ADNEC Centre in Abu Dhabi, reinforcing the emirate’s growing position as a competitive hub for industrial investment and advanced manufacturing.

The agreements reflect increasing investor confidence in Ras Al Khaimah’s industrial ecosystem and its ability to support long-term, scalable manufacturing operations.

The first agreement, represented by MAGRABi Retail Group CEO Yasser Taher, aims to establish a Store Manufacturing Centre – a purpose-built facility dedicated to the production of furniture, store fit-outs, refurbishments, and pop-up concepts across its retail network. Designed to service up to 140 stores annually, the facility will support MAGRABi Retail’s operations across all its markets in the GCC, while creating up to 100 jobs and strengthening the company’s regional expansion and operational capabilities.

Taher said, “At MAGRABi Retail, everything we do is driven by a customer-first philosophy. This investment reinforces our long-term commitment to the Emirate of Ras Al Khaimah while enabling us to further elevate the retail experience across our growing network. By centralising the production of our store environments, we ensure that every detail reflects our dedication to quality, innovation, and client care.”

The second agreement was concluded with Mighty Industrial Park, represented by shareholder Guichun Guo, setting plans for the development of a comprehensive China-UAE industrial park. The project will focus on metal recycling, dismantling, smelting, precious metal refining, and advanced manufacturing, creating a fully-integrated ecosystem that supports sustainable industrial development and sector growth, while contributing to the advancement of circular economy practices within Ras Al Khaimah.

Guo said, “Ras Al Khaimah was chosen by Mighty Industry Park because it offers the practical conditions required for a resource-circulation industrial project to scale: industrial land, utility access, logistics connectivity and a manufacturing environment that can support recycling, refining, production, and export activities. RAKEZ provides a platform where our secondary copper recycling, refining, and copper products manufacturing operations can be developed as an integrated industrial chain rather than as a single standalone facility. With support from the relevant authorities during the establishment process, we see Ras Al Khaimah as a long-term base for building a circular-economy value chain, attracting upstream and downstream partners, and contributing to the UAE’s green manufacturing and industrial diversification goals.”

Commenting on the agreements, RAKEZ Group CEO Ramy Jallad said, “These two agreements reflect our ongoing commitment to strengthening Ras Al Khaimah’s position as a leading hub for advanced manufacturing and industrial investment in the region. By partnering with prominent companies such as MAGRABi Retail and Mighty Industrial Park, we are committed to developing an integrated industrial ecosystem that supports innovation and keeps pace with global shifts in value chains and sustainable manufacturing. At RAKEZ, we continue to provide a flexible and enabling business environment that allows investors to expand with confidence, benefit from advanced infrastructure, and access integrated services that support their long-term growth.”

In addition to these milestones, Jallad took part in a high-level panel discussion alongside leaders from the UAE’s free and economic zones. During the session, he highlighted the UAE’s strong industrial resilience, driven by alignment of efforts across federal entities and economic zones, and reinforced by practical, on-the-ground support for businesses. He noted that flexibility, close client engagement, and integrated ecosystem support have been key to maintaining continuity, while long-term investor confidence continues to be built on stability, scalability, and the ability to grow seamlessly within the same environment.

When asked about long-term commitments from global manufacturers, he said, “Certainty remains the key — enabled by a stable environment, seamless scalability within one ecosystem, and integrated access to logistics, financing, and global markets, allowing businesses to grow with confidence over the long term.”

This direction aligns closely with the UAE’s Operation 300bn strategy, with RAKEZ contributing by enabling industrial growth, attracting high-value manufacturing investments, and providing the infrastructure and ecosystem required for businesses to scale within the country.

Through its continued participation in major platforms such as MIITE, RAKEZ reinforces this role by creating an environment where businesses can grow with confidence, expand seamlessly, and navigate evolving global conditions while contributing to the UAE’s long-term industrial and economic ambitions.

 

New Delhi, May 7 (BNP): Thailand’s evolving strategic and economic orientation is likely to create new opportunities for deeper economic engagement with India, according to a recent analysis by the Observer Research Foundation (ORF).

The report notes that Thailand is gradually recalibrating its external partnerships and economic priorities in response to shifting global geopolitics and changing supply chain dynamics. This transition is expected to open space for stronger regional cooperation, particularly with fast-growing economies like India.

As Bangkok looks to diversify trade links and strengthen its position in global value chains, the study highlights potential areas of collaboration for Indian businesses, including manufacturing, digital services, infrastructure development, and emerging technology sectors.

The ORF analysis suggests that this shift could also support broader regional economic integration, especially within the ASEAN framework, by encouraging more diversified and resilient trade relationships across Asia.

It further observes that ongoing global supply chain reconfiguration is prompting countries in the region to reduce dependence on a narrow set of markets, creating momentum for more balanced and flexible economic partnerships.

Within this context, India is seen as a key partner for Thailand due to its expanding industrial base, large consumer market, and growing capabilities in digital and services-led sectors. The report indicates that deeper cooperation could help enhance investment flows, improve connectivity, and foster greater technological collaboration between the two economies.

Overall, the ORF assessment underscores that Thailand’s strategic recalibration presents a timely window for India to strengthen its economic presence in Southeast Asia and play a more active role in shaping the region’s evolving growth architecture.

 

 

New fäm Properties analysis of more than 1.1 million Dubai Land Department transactions shows clear shift away from short-term investors

Dubai, UAE, May 07: Dubai homeowners are now holding their properties for as long as Londoners and New Yorkers, according to a new study of more than 1.1 million transactions spanning the last 16 years.

It underlines how the city’s real estate sector has evolved to stand alongside the world’s most mature markets, no longer driven by short-term investors.

The analysis of Dubai Land Department transaction data by fäm Properties covers 687,406 primary market transactions between 2012 and 2025, and 425,083 resale market transactions between 2009 and 2025.

Of those, 480,604 primary market homes and 259,615 resale market properties remain with the original buyer, adding up to 740,219 residential properties purchased since 2012 that have never been resold. That represents 69.9% of primary market purchases and 61.1% of resale market transactions over the period.

 

“Buyers focused on flipping properties have been replaced by owners committed to staying in Dubai and holding on to them,” said Firas Al Msaddi, CEO of fäm Properties. “That’s what a market looks like when it matures.”

“Until now, much of the conversation about Dubai’s residential holding behaviour was built around a 2013 framework, but we’ve moved on from there. A buyer who purchased in Dubai in 2014 and is still holding their property today is behaving exactly like the median homeowner in New York or London.”

The new data shows a consistent and strengthening pattern across both market segments. Among primary market buyers, 42% of those who purchased in 2014 are still holding their property eleven years later, rising to 53% among 2017 buyers after eight years and 61% among those who bought in 2022 after three years.

The resale market tells a similar story, with 38% of 2014 buyers still in ownership after eleven years, 53% of 2017 buyers after eight years, and 65% of those who purchased in 2022 still holding after three years.

Those figures mirror ownership patterns in the US, where the typical homeowner now stays for between 11 and 12 years, according to 2025 data from Redfin and the National Association of Realtors. Meanwhile, in the UK, only around 4% of homes change hands in any given year, implying the majority of owners hold for well over a decade.

The new data analysis is drawn from DXBinteract, the market intelligence platform developed by fäm Properties in partnership with the Dubai Land Department records. All figures reflect ownership status as at the end of April 2026.

Al Msaddi links the change in ownership behaviour with a series of structural developments in Dubai’s residential market. The Golden Visa programme, introduced in 2019 and expanded in 2022, established a direct link between property ownership and long-term residency, while regulatory reforms strengthened protections for buyers purchasing off-plan.

While the timing of the Golden Visa rollout and the impact of Covid-19 influenced a slight dip in retention rates, these have risen with each successive group of buyers since 2020.

Significant infrastructure investment over the same period, including new metro connections and the development of major new residential districts such as Dubai South, Dubai Creek Harbour and Dubai Islands, has also extended the range of locations where buyers are willing to commit for the long term.

Primary market – share of buyers still holding, by year of purchase

Year	Years held	Still holding
2014	11	42%
2017	8	53%
2018	7	55%
2019	6	51%
2020	5	53%
2022	3	61%

Resale market – share of buyers still holding, by year of purchase

Year	Years held	Still holding
2014	11	38%
2017	8	53%
2019	6	55%
2022	3	65%

 

Nashik, May 7 (BNP): Maharashtra is preparing for a major development push in Nashik with ₹33,000 crore worth of infrastructure and connectivity projects planned around the upcoming Simhastha Kumbh Mela, Chief Minister Devendra Fadnavis said, adding that the city is set to evolve far beyond its religious identity into a sustained economic growth centre.

Speaking at the closing session of the Kumbh Udyog Sangam and Nashik Investment Summit 2026, he said the scale of investment is designed not only to support the massive congregation expected during the Kumbh but also to leave behind permanent urban and industrial assets.

The Simhastha Kumbh Mela, scheduled from October 31, 2026 to July 24, 2028, is expected to drive large-scale upgrades in transport, civic infrastructure, mobility systems, and urban facilities across the district.

Fadnavis said the development programme is being structured to ensure that pilgrimage-driven infrastructure also strengthens Nashik’s long-term economic base. Key focus areas include road expansion, ring roads, logistics connectivity, and improved public utilities.

Alongside infrastructure development, the state is positioning Nashik as an emerging industrial destination. At the investment summit, agreements worth ₹13,190 crore were signed with over 300 investors, projected to generate nearly 32,000 jobs.

The Chief Minister said Nashik has already seen strong investment traction, with more than ₹31,900 crore implemented in recent years and overall inflows crossing ₹57,000 crore over the last two years.

He noted that implementation levels remain high, with nearly 77 per cent of signed investment commitments already moving into execution, reflecting growing investor confidence in the region.

Industrial interest is expanding across sectors such as manufacturing, electronics, automobiles, textiles, agriculture-linked services, and logistics. Major industry players, including Mahindra & Mahindra, are among those investing or expanding operations in the region.

Fadnavis also highlighted that Nashik is being developed as part of a broader regional growth corridor, alongside districts like Jalgaon, Dhule, Nandurbar, and Ahilyanagar, to ensure more balanced industrial distribution across Maharashtra.

He said improvements in airport capacity, railway connectivity, and industrial infrastructure are strengthening Nashik’s attractiveness as an investment destination, while dedicated facilitation systems are helping speed up project execution.

Officials said the Kumbh-linked development model is being used as a catalyst to integrate spiritual tourism with economic planning, creating opportunities for hospitality, transport, retail, and small businesses.

With large-scale public investment and rising private participation, Nashik is being positioned as a future-ready urban and industrial hub expected to anchor growth in northern Maharashtra over the next decade.

Mumbai, May 7 (BNP): The Indian rupee weakened in early trade on Thursday, falling by 28 paise to 94.77 against the US dollar as investor sentiment turned cautious following reports of a potential diplomatic breakthrough between the United States and Iran.

The currency came under pressure after markets reacted to news that Washington and Tehran are discussing a 14-point Memorandum of Understanding (MoU) aimed at reducing tensions and restarting negotiations to de-escalate the ongoing geopolitical conflict.

According to market participants, the sudden shift in sentiment led to volatility in currency markets, with traders reassessing risk exposure amid uncertainty over the outcome of the proposed agreement.

The latest developments come at a time when global markets remain highly sensitive to West Asia tensions, particularly their impact on crude oil prices, trade routes, and foreign capital flows.

A softening in risk appetite also contributed to pressure on the rupee, as investors weighed the implications of potential changes in oil supply dynamics and broader geopolitical stability.

Recent market reports indicate that fluctuations in the India–US dollar pair have been closely tied to news flow from the region, with currency movements reacting sharply to both optimism and uncertainty surrounding the peace talks.

Analysts say currency markets are likely to remain volatile in the near term, as participants await clearer signals on whether diplomatic negotiations between the US and Iran progress into a formal agreement.

For now, the rupee continues to trade under pressure, reflecting a cautious global environment where geopolitical developments are playing a dominant role in shaping investor sentiment.

New Delhi, May 07: MMTC-PAMP, India’s only London Bullion Market Association (LBMA) Good Delivery gold and silver refiner, has relaunched its digital gold and silver offering, strengthening the company’s position for investors and customers seeking a convenient, transparent and secure way to invest in the purest gold at 24K, as well as purest silver, both at 999.9+ purity.

Catering to the evolving consumer preferences, particularly among young and first-time investors, who are increasingly adopting digital avenues for gold and silver investment, this digital platform provides all the benefits to consumers, with a value-addition of transparency, 24×7 accessibility, assured purity and an entry point gold and silver investment going as low as Rs 10.

Commenting on the relaunch of the digital offering, Mr. Samit Guha, Managing Director & CEO, MMTC-PAMP said,

“Digital gold and silver is increasingly becoming a preferred mode of purchase in the precious metals industry, particularly among young and first-time investors who value accessibility, flexibility and transparency. With this relaunch, our focus is to maintain the trust of physical gold and silver with the convenience of digital platforms. Every investment is backed by the purest silver and gold, stored in an insured, secured, bank-grade vaults, enabling consumers to participate in precious metals investment with confidence, while retaining the option of liquidity or physical redemption based on their needs.”

MMTC-PAMP’s digital gold and silver service enables customers to invest in precious metals starting as low as Rs 10, where every unit purchased is backed by physical gold and silver of the same amount, which is stored in secured, fully insured, bank-grade vaults. The offering combines ease of access with the assurance of purity and ownership, with holdings maintained in the customer’s name and regularly audited by an independent third-party auditor.

Consumers can buy, sell, gift or redeem their investment seamlessly. The platform allows users to redeem their holdings at the real-time market prices with direct bank transfers or convert their digital balance into physical gold and silver in the form of minted coins and bars. Additionally, digital gold and silver can be purchased directly on MMTC-PAMP’s website or Android app, or through a partner transacting platform like Paytm, Google Pay, PhonePe, among others.

Digital gold and silver continue to gain traction as a preferred investment option due to its flexibility, liquidity and accessibility. It allows a democratic entry to secure financial future with the precious metals’ inherent value as a safe haven asset, eliminates storage concerns, and offers a practical entry point for small-ticket investors.