Dubai's Fintech Boom: Why Dubai is the Financial Innovation Hub of the Middle East - - The Economic Times Video
Dubai is fast emerging as the Middle East's fintech nerve centre—powered by a bold regulatory vision, investor confidence, and global founder interest. This video breaks down how initiatives such as the Dubai Fintech Summit, DIFC Innovation Hub, and sandbox licensing are fuelling a fintech revolution, with a spotlight on India-Dubai synergies.
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Mint
4 hours ago
- Mint
British Airways Halts Dubai, Qatar Flights After US Strikes Iran
British Airways paused flights to Dubai and Doha, increasing aviation disruptions in the Persian Gulf after the US struck three nuclear sites in Iran and Tehran vowed to retaliate. The London-based carrier canceled several flights to Dubai and diverted two planes bound for the emirate overnight, according to data from Flightradar24. One flight took off from Heathrow Airport Saturday night and was diverted to Zurich after it reached Saudi Arabia's airspace in the early hours of Sunday, according to the flight tracking site. Another Dubai-bound jet returned to Heathrow after going as far as Egypt. The carrier also canceled flights to Qatar's capital Doha on Sunday and halted routes to Bahrain through the end of the month due to operational constraints and airspace restrictions. Several American and European airlines paused flights to the United Arab Emirates and Qatar last week after Israel started bombarding Iran. British Airways said it has adjusted its flight schedule as a result of recent events to ensure the safety of customers and crew. The moves highlight growing worries in a slice of the Middle East that is typically considered safe and sheltered from regional dislocations. US President Donald Trump said American bombers struck Iran's three main nuclear sites on Sunday and threatened more attacks if Tehran doesn't capitulate, pulling the US directly into the country's conflict with Israel despite his longtime promises to avoid new wars. Iran has threatened to hit US bases in the Persian Gulf if Washington gets involved and close down the Strait of Hormuz, a vital oil trade waterway it borders with the UAE and Oman. Qatar hosts the largest US base in the region, while Bahrain is home to the US Navy's Fifth Fleet. Bahrain said on Sunday that it is activating remote work for 70% of all government ministries and departments in light of regional developments. With assistance from Danny Lee and Siddharth Philip. This article was generated from an automated news agency feed without modifications to text.
Time of India
5 hours ago
- Time of India
Patna's second airport at Bihta promises to boost aviation connectivity by 2027
1 2 Patna: Cramped, congested and constrained, Patna's existing airport has long struggled under the weight of growing passenger traffic and operational bottlenecks. But relief may soon be on the horizon. With the proposed construction of a civil enclave at the Bihta airbase, the Airports Authority of India (AAI) is preparing to usher in a new era of aviation for Bihar, one that could finally see large-bodied aircraft like the Boeing 777 and 747 touching down with ease. Touted as Patna's second airport, Bihta is being developed not only to ease pressure on the beleaguered Jayprakash Narayan International Airport but also to position Bihar on the map of long-haul international connectivity. The AAI has formally proposed the acquisition of 191 acres of additional land to extend Bihta's existing 8,200-foot (2,499-metre) runway to 12,000 feet (3,657 metres), a crucial step in enabling the movement of wide-bodied jets. Patna DM Thiyagarajan S M said the land acquisition process was currently underway. The airport's civil enclave is expected to be operational by March 31, 2027, with an ambitious design to accommodate 3,000 passengers during peak hours and up to 5 million annually. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like New Cooling Tech Making Ductless ACs Go Mainstream [take a look] Keep Cool Click Here Undo On Feb 15, the AAI awarded a Rs 459-crore contract to an India-Russian joint venture for the construction of the terminal building. Of this, Rs 438 crore has been earmarked for the terminal itself, a three-storey structure comprising a basement, ground floor and first floor, while the remaining Rs 21 crore will be utilised for operations and maintenance. The total estimated project value stands at Rs 1,413 crore, encompassing everything from the terminal building and utility complex to a taxiway, apron, multi-level car parking, a link road and even a residential colony. In sharp contrast to the operational nightmares of Patna's current airport, hemmed in by Patna zoo on one side and railway traction lines on the other, Bihta offers what aviation professionals describe as a much cleaner slate. "Though the runway at Bihta is shorter for now, it doesn't face any of the challenges we have in Patna," said S D Sharma, general manager of Bihta airport. "Pilots at Patna struggle because from the east, tall trees in the zoo obstruct visibility, and from the west, there are high-tension wires near the railway line. They simply cannot use the entire airstrip," he added. "Here at Bihta, even without the additional land for extension, we can utilise the entire existing runway. All the difficulties faced at Patna can be managed here without any issues. The extension is only needed to accommodate even larger aircraft," Sharma added. Work on the terminal has already begun with foundation digging and soil testing currently underway. "The goal is to finish almost the entire project by March 2027. We are also finalising bids for other critical infrastructure like the apron, taxiway, residential areas, and multi-level car park. All construction will proceed in parallel to meet the deadline," Sharma said. The foundation stone for the new terminal was laid by PM Narendra Modi on May 29, alongside the inauguration of the new terminal building at Patna's existing airport. Designed to marry contemporary architecture with cultural motifs, the 68,000 sqm terminal will have 64 check-in counters, five passenger boarding bridges and 10 boarding gates. There will be six baggage belts in the arrivals section. The façade pays tribute to India's Buddhist heritage with a modern reinterpretation of the Sanchi Stupa, using sleek glass panels and curved structural supports. Inside, passengers can expect VIP lounges, shopping and dining spaces, and energy-efficient features aiming for five-star GRIHA certification. Advanced security systems, including inline baggage screening, will also be in place. The apron will provide 10 parking bays for Code C aircraft such as the Airbus A320 and Boeing 737, both capable of seating more than 200 passengers. A 600-metre taxiway will link the apron with the runway, ensuring smooth ground operations. The civil enclave will share Air Traffic Control (ATC) and fire services infrastructure with the Indian Air Force, which currently operates from the Bihta base. "Bihta has been on the AAI's radar since 2009 as the most feasible site for Patna's second airport," Sharma said. Located about 35km from the city, Bihta's relative remoteness turns out to be an advantage, offering the kind of unencumbered space and scalability that Patna's urban sprawl simply cannot afford.
India.com
5 hours ago
- India.com
India to get new powerful super fighter jet which will destroy China, Pakistan within minutes, not US F-35, it's dangerous because...
Sukhoi Su-57 fighter jet- File image Sukhoi Su-57 fighter jet: In a significant development in India-Russia defence sector, Russia has reportedly offered India the export variant of its fifth-generation fighter jet, the Su‑57E. Additionally, Russia has also helped India with providing full source-code access, deep localization, and licensed production rights of the fighter jet. Here are all the details you need to know about the Russia-India Su-57E deal, which is bad news for Pakistan, China and the US. As per media reports, India has requested Russia to integrate indigenous systems like GaN-based AESA radars (e.g., Uttam) and mission computers in the Russian Su-57E fighter jet as a part of the deal, but the acceptance is under consideration. About Sukhoi Su-57 fighter jet The Sukhoi Su-57 is a twin-engine fifth generation stealth multirole fighter aircraft developed by Sukhoi. The Su-57E deal is very significant for India as India's indigenous AMCA program would need ateast a decade to produce the 5th generation fighter jet. Readers should note that US also reportedly offered its F-35 aircraft but India is likely to buy the Russian jet. India's 5th-generation stealth fighter jet gets key clearance In a major push towards Atmanirbharta (self-reliance), Defence Minister Rajnath Singh approved the Execution Model for the Advanced Medium Combat Aircraft (AMCA) programme on Tuesday. The project will be helmed by the Aeronautical Development Agency (ADA) of the Defence Research and Development Organisation (DRDO), said the Defence Ministry in a press release. India's answer to fifth-generation air power The AMCA, widely seen as India's answer to fifth-generation air power, will give a major boost to achieving 'Atmanirbharata' in the defence sector and will become a hallmark of India's growing defence capabilities. Being the fifth-generation stealth multirole fighter equipped with cutting-edge technology, it will be suited for all-weather operation. Designed with low radar cross-section and supercruise capability, the AMCA is seen as the successor to the frontline Sukhoi Su-30MKI fighter jets. Some reports suggest that its mass production is likely to commence by 2035. (With inputs from agencies)
