Could this be the most important investment corridor of the decade? Al Mal Capital's Faisal Hasan outlines his bull case for the India-GCC investment partnership.

Mumbai

India's robust economy and the GCC's diversification strategies are fostering a closer investment relationship between the two regions. High-level engagement, such as frequent visits by Indian leadership to the UAE, has encouraged substantial capital flows, with Gulf Sovereign Wealth Funds investing $35-40 billion in India over the past decade. These investments span sectors like healthcare, education, e-commerce, and technology, and are expected to increase further.

Recent regulatory developments, including the granting of an onshore license to an Indian fund manager in the UAE, are making it easier for Indian and non-resident Indian investors to access each other's markets. The growing Indian diaspora in the GCC, particularly in the UAE, is also contributing to this trend, with more funds and investment products likely to emerge as the relationship deepens.

How India and the GCC are shaping the next big investment frontier

The resilient economy of India and the kind of diversification strategy of GCC, as well as India, combined with the encouraging demographics, is supporting the business environment and we are seeing some kind of a close relationship from the highest level of the leadership and that that has been sort of encouraging investments of GCC to India and the Indian investments also in GCC in various sectors and I think what we saw during that tariff also that we will see a lot of supply chain readjustments and I think that GCC or UAE-India corridor will be a big beneficiary of that. Indeed and you mentioned this comes from the top, it certainly does. We've seen Prime Minister Modi visiting the UAE some seven times since 2015 and I was also looking at some recent data that shows the activity that the Gulf Sovereign Wealth Funds have been having in India as well, clearly a new and interesting space for them. We've seen the Gulf Sovereign Funds pouring about 35 to 40 billion dollars into India in the past decade, so how significant is that for the India Gulf Investment Corridor more broadly and for Kotak which has about a hundred billion dollars in assets, what do you think the opportunity is? I think we always talk about the large diaspora and the proximity of India to the GCC nations, yes it's there but yes what you mentioned takes it to the next level that the Sovereign Wealth Fund which is one of the biggest investors in the world are looking at India and are increasing their India allocation both as the foreign direct investments as well as the institutional investments and there is a huge scope for the investments in the either in the healthcare, education, e-commerce, communication technology with the kind of backdrop that India has. I see the investments will increase a lot. On the other hand, yes it's an important news that an Indian fund manager has been granted the license in ASCA that will open up the UAE market for the manager and especially to get the NRIs investments and get the investments in more sticky funds and sticky money into the Indian equities and Indian fixed income markets as well. So I think this is going to increase a lot on the back of that yes the NRIs, the non-resident Indians would like to invest in India through those investment avenues but I see much more happening on the foreign direct investments from both the sides. Indeed, the FDI has continued to grow and at a more local level this is also a diaspora play. I mentioned before that Indians make up about 35% of the population here in the UAE. So Faisal, given the growing investment ties would it be reasonable to expect that more funds will potentially follow suit? I definitely think so. We will see many more funds will set up base. If you look at the generally in the UAE, in the DIFC and ADGM, many of the Indian fund managers are already there. So they are already sort of marketing their products in the DIFC or in the ADGM but getting the ASCA which is the onshore mainland license is very important so that they can get access to a bigger audience and a bigger investor base. So I'll see this will sort of spur other investment managers to secure UAE licenses and we'll see much more investment services, investment products, especially catering to the Indian markets investing in India to come in near future.

European leaders who converged on the White House for talks on the Russia-Ukraine war demonstrated a united front regarding Ukraine's security on Monday, underscoring the issue as pivotal for the entire continent, not just Ukraine.

Washington

Ukraine Invasion

EU leaders show cautious optimism following Zelenskyy, Trump talks

As Hamas reportedly agreed to some ceasefire terms that would include the return of more hostages, Israeli Prime Minister Benjamin Netanyahu ordered troops to take more of Gaza.

Jerusalem

Middle East Conflict

Israel digs in on Gaza takeover as Hamas softens on ceasefire

President Donald Trump said that the United States would help Europe in providing security for Ukraine as part of any deal to end Russia's war in Ukraine.

Trump tells Zelenskyy U.S. would help with security in a peace deal

Bolivia's presidential vote headed to an unprecedented runoff after elections Sunday that ended more than two decades of left-wing dominance in the Andean nation but signaled voters' trepidation about a major lurch to the right.

La Paz

Bolivia heads to runoff after historic defeat for the left

All Air Canada planes were grounded on Monday (August 18) after its 10,000 flight attendants refused a return-to-work mandate from the Canadian government.

Toronto

Air Canada delays plans to resume operations

Ukrainian President Volodymyr Zelenskyy arrived at the White House Monday (August 18) for his meeting with President Donald Trump and other European leaders about Russia's war in Ukraine. CBS News White House reporter Taurean Small has more.

Trump meeting with Zelenskiy, European leaders at White House

Hamas on Monday informed mediators that it had accepted a ceasefire deal proposal submitted to it the day before, according to international and Israeli outlets.

Reports: Hamas accepts latest Gaza ceasefire proposal

Hurricane Erin will bring dangerously rough surf to parts of the U.S. East Coast. Over the weekend, Erin's outer bands lashed Puerto Rico with up to 7 inches of rain and flooding parts of the island.

East Coast of the United States

Erin expected to bring dangerous conditions to U.S. East Coast

Ahead of his Monday meeting with President Trump, Ukrainian President Volodymry Zelenksyy says his country will not give up any territory to Russia, even as the White House insists potential land swaps will be necessary. Willie James Inman reports.

Kyiv

Ahead of Trump meeting, Zelenskyy says won't give territory to Russia

Thousands of Israeli protesters demanded a deal to secure the release of hostages still held by Hamas in one of the biggest demonstrations since the war in Gaza began. Debora Patta reports.

Thousands of Israelis protest in Gaza, call for end to fighting

Ukrainian President Volodymyr Zelenskyy flies to Washington on Monday under heavy U.S. pressure to agree to a swift end to Russia's war in his country, but determined to defend Kyiv's interests — without sparking a second Oval Office dust-up with Donald Trump.

Zelenskyy, European allies to meet with Trump to discuss peace

European leaders voiced strong support for Ukraine ahead of a Washington summit with U.S President Donald Trump. They emphasized unity, territorial integrity and security guarantees as essential to any peace deal.

Paris

European leaders stress unity with Ukraine ahead of peace talks

International condemnation and pressure from allies have done nothing to stop Israel's plan to displace the people of northern Gaza. Israel on Saturday (August 16) said it is preparing to move Palestinians from combat zones to southern Gaza.

Israeli military prepares to move Palestinians to southern Gaza

Thousands of people took to the streets on Sunday in a nationwide strike amid fears further fighting could endanger the 50 hostages believed to still be in Gaza.

Tel Aviv-Yafo

Dozens of Israelis arrested in protest to demand end to Gaza war

Russia continues to target Ukrainian cities firing hundreds of missiles and projectiles daily despite ongoing peace efforts, led by the United States. Ukrainian officials say their unwillingness to dial back their offensive reflects their lack of sincere interest in peace.

Five killed as Russia continues to pummel Ukrainian cities

U.S. President Donald Trump said that Ukraine should make a deal to end the war with Russia because "Russia is a very big power, and they're not," after a summit where Vladimir Putin was reported to have demanded more Ukrainian land.

Anchorage

Trump told Zelenskiy that Putin wants more of Ukraine, source says

Efforts by Texas Republicans to redraw the state's congressional maps got new pushback from protesters at rallies across the country Saturday. Nearly 280 events took place in 34 states, according to organizers.

"Fight the Trump Takeover" protests held across U.S.

West Virginia's governor says he will send up to 400 National Guard troops to the nation's capital at President Trump's request. They'll join other National Guard troops and federal agents already deployed with local police on the streets of Washington, D.C.

More troops arrive in D.C. at Trump's request

President Trump reversed course Saturday, saying he is no longer seeking an urgent ceasefire in Ukraine, but now agrees with Russian President Vladimir Putin that pursuing a peace deal is the best way to end the war.

Trump sides with Putin, preferring peace over ceasefire

Russian President Vladimir Putin described his meeting with President Trump as "frank, substantive and bringing us closer to making the necessary decisions." But the Alaska summit couldn't have been more far removed from the battlefields of Ukraine.

War-weary Ukrainians desperate for a ceasefire

In Ukraine, many do not believe Russia's president Vladimir Putin actually wants a ceasefire deal. They say Trump should stop making concessions to the Kremlin and for U.S President Donald Trump to demand an end to Russia aggression.

Ukrainians sceptical of Vladimir Putin’s intention

Being a Category 1 hurricane, Erin underwent a 'rapid intensification' which helped the storm to grow and strengthen to a powerful Category 5. Hurricane Erin won't make a direct hit on the U.S., but it will produce dangerous surf conditions for the entire East Coast.

San Juan

Hurricane Erin 'rapidly intensifies' to a Category 5

The Washington, D.C., police chief will remain in command of the local force following a settlement with the Trump administration over the federal takeover, but they are required to cooperate with the White House's immigration policy.

D.C. police retain some control after deal with Justice Department

The Atlantic Ocean's first hurricane of the season, Erin, has continued to gain strength and currently sits off the coast of Anguilla.

Hurricane Erin strengthens in the Atlantic

President Trump and Russian President Vladimir Putin met on Friday in Alaska to discuss the war in Ukraine. The leaders did not announce a peace deal, but Trump is set to meet with Ukrainian President Volodymyr Zelenskyy on Monday.

Trump, Putin meeting in Alaska ends without a ceasefire deal

Talks between the U.S. President and Russian President Vladimir Putin concluded without an agreement on ending the war in Ukraine, despite being widely anticipated as a possible turning point.

Zelenskyy set to meet U.S. president Monday after no ceasefire deal

For the first time in a decade, Vladimir Putin was on U.S. soil for a much-anticipated meeting with Donald Trump. The U.S. and Russian presidents were supposed to discuss a deal to put an end to Moscow’s war against Ukraine, but they did not mention a ceasefire after the talks.

Trump, Putin wrap up talks with no mention of ceasefire

President Trump and Russian President Vladimir Putin met in Alaska for a high-stakes summit over ending the war in Ukraine. Nancy Cordes and Margaret Brennan have coverage and analysis.

What we know about the high-stakes summit between Trump and Putin

U.S. President Donald Trump and Russia's Vladimir Putin have arrived in Alaska ahead of their high stakes talks on Ukraine. The expected one-on-one meeting between Trump and Putin has expanded to include U.S. officials Steve Witkoff and Marco Rubio and other Russian officials.

Trump, Putin arrive in Alaska for historic summit

Israel's far-right finance minister approved the construction of a controversial new settlement in the West Bank, saying it "finally buries the idea of a Palestinian state." But it's unclear if this move will actually go through. Rights groups swiftly condemned the plan.

Breakdown