Indian degrees to get equivalency in UAE
Dubai: The UAE government will issue equivalency to all Indian degrees that match the set criteria, a move that comes as a huge relief for expats having difficulty in getting jobs in the Gulf country.
Indian Ambasador Navdeep Singh Suri called on UAE Education Minister Hussain Bin Ibrahim last week to discuss problems faced by Indian nationals following rejection of equivalency of some Indian degrees due to lack of clarity over internal/external marks, according to a press release issued by the Indian Embassy in Abu Dhabi.
"The Embassy of India, Abu Dhabi is happy to inform the Indian community that following the above discussions, the Ministry of Education of the United Arab Emirates notified that it has no objection to equivalence those degrees that meets all other certificate equivalency criteria," it stated.
The UAE education ministry reviewed the information provided to it through the Action Plan for Academic and Administrative Reforms' issued by the University Grant Commission which clarified that the word external in some of the Indian mark sheets reflect the method of evaluation and not place of study, it said.
"Those applications that have been rejected previously, will be reviewed and equivalency letters would be issued after meeting all other certificate equivalency conditions," it added.
The Ministry of Education of the United Arab Emirates further informed the Indian Embassy official that it is working on all such applications gradually, it added.
Indian community is the largest expatriate community in the UAE. Approximately 3.3 million non-resident Indians constitute about 30 per cent of the total population of the Gulf country.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Rupee falls 20 paise to 95.43 against US dollar in early trade
Mumbai (PTI): The rupee depreciated 20 paise to 95.43 against US dollar in early trade on Tuesday as market sentiments remained fragile after renewed military exchanges between US and Iranian forces in the Gulf region.
Forex traders said investor anxiety due to instability in the Gulf is causing massive capital flight into safe-haven assets, with the US dollar acting as the primary beneficiary.
Moreover, Brent oil prices is hovering near USD 113 per barrel, maintaining pressure on oil-importing economies like India.
At the interbank foreign exchange market the rupee opened at 95.30 then lost ground to touch 95.43 against the US dollar, in initial trade, registering a fall of 20 paise over its previous close.
Rupee fell 39 paise to close at an all-time low of 95.23 against the US dollar on Monday.
"With oil boiling rupee on Monday fell to a closing low of 95.0875 and this morning the opening was still lower as it becomes more and more vulnerable when dollar index rises due to safe-haven buying and oil prices rise due to the continuous fighting in the Gulf Region," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.
The higher oil prices will keep rupee sold off against the dollar as oil companies and FPIs intensify dollar buying, Bhansali added.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 98.51, up 0.15 per cent.
Brent crude, the global oil benchmark, was trading lower by 1.07 per cent at USD 113.22 per barrel in futures trade.
"Market sentiments remained fragile after renewed military exchanges between US and Iranian forces when Iranian forces launched fresh attacks in the Gulf as both sides sought to assert control over the strategic waterway," Bhansali said.
On the domestic equity market front, Sensex declined 361.62 points to 76,907.78 in early trade, while the Nifty dropped 134.90 points to 23,980.60.
Foreign Institutional Investors purchased equities worth Rs 2,835.62 crore on Monday, according to exchange data.
