Saudi Arabia’s Crown Prince Mohammed bin Salman said on Wednesday he saw investment opportunities of more than $100 billion in India over the next two years as he began his first official visit amid tensions between arch foes India and Pakistan.
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00:00Hello and welcome to Goswami's daily business wrap-up.
00:04Saudi Arabia's Crown Prince Mohammed bin Salman said he expects about $100 billion
00:09to be invested in India over the next two years.
00:11This could be in the form of oil trade and non-oil trade.
00:15For oil trade, Saudi Aramco is in talks with Reliance Industries for investment opportunities.
00:20A budget carrier FlyDubai has posted its first net loss since 2012.
00:26The company reported a net loss of 160 million dirhams, basically due to rising fuel costs
00:31and currency fluctuations.
00:33FlyDubai said it was a challenging year, but the focus is on how to increase their revenues.
00:39Egypt is returning to the dollar bond market and is planning to raise about $4 billion.
00:44Remember last year Egypt raised about $9 billion through a bond program.
00:50Investors have been beaming with confidence after Egypt resorted to sweeping reforms as
00:56required by the IMF.
00:58The IMF, remember, had given a loan of about $12 billion and the last crunch was given
01:04to the country this month.