The FCNR deposit scheme, subject to certain conditions, offers almost double the returns of regular term deposits. Banks are offering 6% to 7.1% for three- to five-year deposits under the special scheme. Earlier, it was 3.35% to 4% only
Author: Staff Reporter (Staff Reporter)
Indian expat dies during cricket match in Dubai
Mohammed Safwan Shanu collapsed during a game of cricket and was declared dead on arrival at the hospital. He was only 38 years old
US, Iran agree to end war; Hormuz to open, nukes to be discussed in 60 days
In a post on the Truth Social platform, Trump said, “The Deal with the Islamic Republic of Iran is now complete. Congratulations to all”
RBI launches dollar-rupee swap scheme for NRI investors
Experts feel that banks may be required to raise the rates by at least 100 basis points to get NRIs to invest funds. The new FCNR(B) deposits scheme would be successful if banks offered higher rates to investors, like hiking the interest rates to 5.5% or more
Three Indian sailors killed in US military strikes on oil tanker off Oman
The three seafarers identified as deck cadet Aditya Sharma, engine fitter Shivanand Chaurasiya and chief engineer Patnala Suresh were on board the Palau-flagged oil tanker, the Settebello, when one of the US warplanes fired on the tanker in the Gulf of Oman, disabling the vessel
NRI businessman Shamsheer Vayalil launches Dh1m fund for Dubai accident victims
The families of the seven deceased victims will receive Dh100,000 each, while Dh180,000 has been allocated to support the nine injured survivors based on medical and recovery needs
Over 7,000 people arrested for residency and labour violations in Saudi Arabia
In a nationwide enforcement operations, diligently conducted for an entire week from May 28 to June 3, Saudi authorities detained hundreds of people for breaching border security regulations too
NRI workers among seven killed in Dubai road accident
The accident involved a minibus that hit a truck that had stopped in the middle of the road
Kuwait reopens airspace after Iran missile attacks
During the temporary closure, which was from 4:15 am to 6:15 am, 11 Kuwait Airways and Jazeera Airways flights were diverted to other airports
Bypassing Hormuz, Saudi launches new trade route via Red Sea in relief for India
The new service that facilitates trade flow will connect Jeddah Islamic Port with Mundra Port in India and the Port of Djibouti









