First Investment Agreement signed between NIIF and Abu Dhabi Investment Authority

India’s National Investment and Infrastructure Fund (NIIF) of India on has signed an investment agreement worth $1 billion with Abu Dhabi Investment Authority (ADIA). With this, ADIA became first institutional investor in NIIF’s Master Fund and shareholder in NIIF’s investment management Company. NIIF is claimed to be India’s first sovereign wealth fund. Background The agreement ..

Month: Current Affairs - October, 2017

Topics: Abu Dhabi Investment Authority • Economy • India-UAE • infrastructure • Investments • NIIF

Union Cabinet approves oil storage pact with UAE’s ADNOC

The Union Cabinet has approved signing of the Definitive Agreement on Oil Storage and Management between Indian Strategic Petroleum Reserve Ltd (ISPRL) and UAE’s Abu Dhabi National Oil Company (ADNOC). Government’s this move aims at boosting India’s energy security by ensuring a strategic storage flow in for crude oil, from a government firm in Abu ..

Month: Current Affairs - March, 2017

Topics: Cabinet Decisions • Energy security • India-UAE • National • Strategic Oil Reserves

Union Cabinet approves MoU between India and UAE in field of Energy Efficiency Services

The Union Cabinet has approved the Memorandum of Understanding (MoU) between India and United Arab Emirates (UAE) to provide various services in the field of energy management and conservation. The MoU was signed between the National Productivity Council (NPC), an autonomous body under the Department of Industrial Policy & Promotion (DIPP), Ministry of Commerce and ..

Month: Current Affairs - March, 2017

Topics: Cabinet Decisions • Energy security • India-UAE • National • Strategic Oil Reserves

India inks deal with UAE for strategic oil reserves storgae

India has signed a deal with United Arab Emirates (UAE), fifth biggest oil supplier as part of its quest for energy security and strategic reserve system. The deal allows UAE’s Abu Dhabi National Oil Co. (ADNOC) to fill half (about 6 million barrels of oil) of an underground crude oil storage facility at Mangaluru, Karnataka. ..

Month: Current Affairs - January, 2017

Topics: Current Affairs - 2017 • India-UAE • National • Oil Sector • Strategic Oil Reserves storgaes • UAE

India, UAE sign 14 agreements

India and the UAE (United Arab Emirates) inked 14 agreements in various areas to boost bilateral cooperation between both countries. These agreements were signed after delegation level talks between Prime Minister Narendra Modi and visiting Crown Prince of Abu Dhabi Sheikh Mohammed Bin Zayed Al Nahyan in New Delhi. The Crown Prince who is Deputy ..

Month: Current Affairs - January, 2017

Topics: Defence • India-UAE • International Relations • National • strategic partnership