UAE and India sign five investment deals

During closing talks yesterday between Dr. Manmohan Singh, Prime Minister of India and His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister, and Ruler of Dubai, the former praised the UAE labour laws, regulations and legal infrastructure. Singh described the laws as proof of a hospitable country that prioritizes the safety, health, humanitarian and civil rights of its Indian and international workforce. Sheikh Mohammed presided over the signing ceremony of five investment deals, including a joint agreement between Dubai World and Dubai Islamic Bank from the UAE and Wipro to form a specialized information technology solutions company. Another key deal was signed between the UAE based Nakheel and India's DLF to develop residential and tourism real estate projects.Bilateral tax agreements were also sealed between the two countries. Source WAM