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The meeting brought together the Supreme Council Member and the visiting minister as both countries seek to expand commercial partnerships, investment opportunities and diplomatic engagement. Discussions also covered bilateral relations and developments affecting the Gulf region.

Jaishankar described the meeting as an opportunity to exchange views on strengthening relations between the two countries and expanding engagement across the region. He acknowledged Sheikh Saud’s perspectives on bilateral cooperation and confirmed that the situation in the Gulf featured in their discussions.

The talks took place during the final day of Jaishankar’s three-day official visit to the UAE, which began on October 14. The visit was intended to review progress under the Comprehensive Strategic Partnership and identify opportunities for further cooperation across economic and diplomatic sectors.

Neither side announced a new investment agreement, trade target or commercial project following Friday’s meeting. The discussions nevertheless provided another channel for engagement between India’s government and the leadership of individual UAE emirates, alongside established federal diplomatic arrangements.

Economic cooperation remains central to relations between the two countries. Their Comprehensive Economic Partnership Agreement, which entered into force in May 2022, provides preferential market access for eligible goods and establishes mechanisms to facilitate trade and investment.

The agreement has supported efforts to diversify commercial exchanges beyond traditional energy transactions, with businesses exploring opportunities in manufacturing, logistics, infrastructure, technology and services. Its implementation also provides a framework for addressing commercial barriers and encouraging greater participation by companies operating in both markets.

Ras Al Khaimah has pursued investment partnerships involving manufacturing, industrial production, construction materials and logistics. Its industrial infrastructure and connections to regional shipping networks provide opportunities for businesses seeking production facilities and access to markets across the Gulf.

The emirate’s commercial engagement with India was also discussed during a July meeting between Sheikh Saud and India’s Ambassador to the UAE, Deepak Mittal, who was accompanied by business representatives.

That meeting examined opportunities for cooperation across several sectors and ways to utilise Ras Al Khaimah’s economic advantages. The discussions reflected continuing engagement between the emirate’s leadership and businesses interested in developing commercial operations within its jurisdiction.

Friday’s meeting followed talks on Wednesday between Jaishankar and UAE Deputy Prime Minister and Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan in Abu Dhabi.

The two ministers reviewed cooperation under the Comprehensive Strategic Partnership and Comprehensive Economic Partnership, with particular attention to trade, investment and economic development. They also exchanged views on international issues and developments affecting regional stability.

Sheikh Abdullah reaffirmed the UAE’s commitment to strengthening bilateral relations and identifying opportunities that support the development priorities of both countries. Their discussions covered existing cooperation and possibilities for expanding engagement in sectors considered important to their respective economies.

The diplomatic exchanges come as governments and businesses assess the implications of uncertainty across the Gulf for investment, shipping and energy supplies. Regional stability remains an important consideration for commercial activity involving the UAE and India, particularly given their extensive trade and transport connections.

Jaishankar also participated in the Raisina Middle East Dialogue in Abu Dhabi on Thursday, joining discussions about international connectivity, strategic partnerships and the changing economic geography of global trade.

Speaking during a session examining continental corridors, he highlighted growing competition, emerging transport constraints and the importance of building reliable partnerships. His remarks addressed the challenges facing countries seeking secure commercial connections amid shifting geopolitical and economic conditions.

The dialogue, held on October 14 and 15, brought together participants to examine regional and international developments, including connectivity initiatives and cooperation between governments.

India’s relationship with the UAE also encompasses energy supplies, defence cooperation and investment, alongside extensive people-to-people connections. These established links provide an additional foundation for discussions involving the federal government and individual emirates.

The Embassy of India in Abu Dhabi estimated that approximately 4.3 million nationals from India were living in the UAE in 2024, representing roughly 35 per cent of the country’s population.

Ras Al Khaimah’s geographical position near the Strait of Hormuz adds a regional dimension to discussions about trade and connectivity. The emirate borders Oman and maintains industrial and maritime facilities serving businesses involved in manufacturing, construction materials and international commerce.

Japan’s foreign ministry confirmed on Thursday that the initial project would cost approximately $10 billion, with construction scheduled to begin before the end of 2026. Expansion of production facilities could eventually raise the total investment to about $21 billion, although the second factory remains conditional.

The agreement forms part of a $550 billion Japanese investment commitment negotiated with President Donald Trump’s administration in 2025, alongside a reduction in American tariffs on Japanese vehicles and other imports to 15 per cent.

GlobalFoundries said the first manufacturing plant at its existing Malta campus would begin production in 2029. An additional investment of approximately $10 billion would finance a second facility, with a decision on that expansion expected before the end of 2028.

Japan will supply the investment capital, while GlobalFoundries will provide manufacturing technology, technical expertise and operational management. The factories will be jointly owned by American and Japanese interests under an arrangement intended to expand semiconductor output without requiring the company to finance construction itself.

The first plant is expected to produce approximately 900,000 silicon wafers measuring 300 millimetres annually when fully operational. A second plant would add comparable capacity, substantially increasing the company’s manufacturing footprint in upstate New York.

GlobalFoundries estimates that the initiative will support approximately 27,000 construction and associated supply-chain jobs, alongside more than 1,000 skilled manufacturing positions in New York’s Capital Region. Those figures are projections rather than employment already created.

The US Commerce Department will separately receive an equity interest of approximately four per cent in GlobalFoundries. Chief executive Tim Breen said the transaction would raise the government’s overall holding to about seven per cent. The company is majority owned by Abu Dhabi’s Mubadala Investment Company.

GlobalFoundries shares advanced after the announcement, reflecting investor interest in an expansion model that could increase manufacturing capacity while limiting construction expenditure.

The ownership arrangements distinguish the investment from conventional private-sector semiconductor expansion. Japanese financing will underpin the factories, while the American government will gain a larger financial interest in the operator and participate in the broader manufacturing initiative.

GlobalFoundries also agreed with the Commerce Department to revise an existing award under the CHIPS and Science Act, reallocating $955 million towards investments in silicon photonics, silicon-germanium technology and advanced packaging at facilities in Malta and Burlington, Vermont.

These technologies are used in communications systems and data centres, where manufacturers are seeking faster connections and more efficient processing of large volumes of information. The separate funding revision does not represent an additional Japanese commitment to the two factories.

Japan’s foreign ministry described the New York project as the first semiconductor investment under the bilateral Strategic Investment Initiative announced in September 2025. It said the initiative was intended to strengthen supplies of mature-node chips used in automobiles, industrial machinery, smartphones and artificial intelligence data centres.

Although attention has focused heavily on advanced processors for artificial intelligence, mature-node semiconductors remain essential components in vehicles, industrial equipment and connected devices. Their availability is important to manufacturers seeking more geographically diversified supply chains.

The first facility will be built at an established semiconductor manufacturing location, allowing the investment to draw on existing industrial infrastructure and a local workforce. However, the announced timetable does not mean projected production capacity will be available immediately when operations begin.

Breen said GlobalFoundries had been chosen because large fabrication projects required manufacturing expertise and operational capabilities alongside financing. US Commerce Secretary Howard Lutnick welcomed the investment as a contribution to domestic manufacturing and employment.

The Japanese government expects the project to create commercial opportunities for its semiconductor equipment and materials suppliers. Tokyo Electron and SCREEN Holdings have expressed interest in supplying manufacturing equipment, while Tokyo Ohka Kogyo has indicated interest in materials and components.

Renesas Electronics, a major Japanese chipmaker supplying automotive and industrial customers, has expressed interest in purchasing output from the proposed facilities. Its participation could provide an important customer relationship as production plans advance.

Japan’s foreign ministry also identified smaller suppliers, including Fujikin and Kusakawa Seiki, as potential participants in the equipment and materials supply chain. Their involvement remains prospective, rather than a confirmed allocation of orders.

Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, will lead the Ministry of Finance delegation, which is scheduled to attend ministerial discussions, multilateral consultations and bilateral meetings with representatives of participating countries.

The Ministry of Finance announced the participation on Friday, identifying financial resilience, sustainable development funding and stronger institutional partnerships as principal priorities. The meetings come amid mounting concerns over sovereign debt, borrowing costs, geopolitical tensions and uneven economic growth.

Khaled Mohamed Balama, Governor of the Central Bank of the UAE and the country’s governor to the IMF, will separately lead the central bank delegation. Assistant governors and senior officials will participate in discussions covering monetary policy, financial stability and emerging challenges affecting international markets.

Al Hussaini said the annual gathering offered an opportunity to coordinate economic positions and strengthen dialogue among governments and international financial institutions. The UAE would seek partnerships supporting inclusive development while examining financing mechanisms capable of improving economic resilience.

The Ministry of Finance delegation will attend the meeting of finance ministers and central bank governors from the Middle East, North Africa, Afghanistan and Pakistan with IMF Managing Director Kristalina Georgieva. Regional economic developments, financing requirements and financial stability are expected to feature in those discussions.

Its programme also includes the G20 Finance Ministers and Central Bank Governors Meeting, the annual plenary session and consultations involving the International Monetary and Financial Committee, which advises the IMF on the international monetary and financial system.

A separate meeting of Arab governors with World Bank Group President Ajay Banga will provide another forum for discussing development priorities and cooperation with multilateral lenders. UAE officials will also hold bilateral engagements with representatives of partner countries.

The central bank has identified digital transformation, artificial intelligence, financial inclusion and climate resilience among its priorities. Its delegation intends to examine how technological developments can support economic growth while strengthening financial systems against emerging risks.

These discussions will take place against a difficult international economic backdrop. IMF Managing Director Georgieva has warned governments about mounting public debt and the need for credible fiscal policies, particularly as higher borrowing costs constrain spending and investment.

Geopolitical disruptions and pressure on energy markets have added uncertainty to economic forecasts. Policymakers attending the Bangkok meetings will face questions about balancing inflation control, financial stability and growth while addressing the financing needs of developing economies.

The World Bank Group has placed employment, private investment and development opportunities among the central themes of its programme. Scheduled discussions include mobilising private capital for jobs and examining how artificial intelligence can support employment and economic development.

For the UAE, these subjects intersect with its stated priorities of expanding international financial cooperation and supporting development financing. The Ministry of Finance said its delegation would examine opportunities for practical collaboration with governments and international institutions.

Bangkok will also provide the setting for preparations linked to the UAE’s hosting of the institutions’ 2029 Annual Meetings in Abu Dhabi. The World Bank Group and IMF announced that decision in April following approval by their boards of governors.

An official signing ceremony associated with the 2029 hosting arrangements is scheduled during the Bangkok gathering. Abu Dhabi’s selection will bring the meetings back to the UAE after Dubai hosted them in 2003.

The annual meetings bring together finance and development ministers, central bankers, institutional leaders, private sector representatives and civil society organisations. Their principal forums address the world economic outlook, monetary cooperation, development challenges and the operations of the two institutions.

The main venue this year is Bangkok’s Queen Sirikit National Convention Center. The formal plenary session is scheduled for 16 October, while the International Monetary and Financial Committee plenary is scheduled for 17 October.

The UAE programme also includes a reception bringing together banks from the country and their regional and international counterparts. The Ministry of Finance said the gathering was intended to strengthen institutional relationships and create opportunities for financial cooperation.

Other scheduled engagements include discussions with partner governments on bilateral economic relations and possible areas of collaboration. The ministry has not announced individual bilateral agreements or financing commitments ahead of the meetings.

Public sessions will accompany the ministerial programme, including discussions on artificial intelligence, private investment and development. Selected events will be streamed internationally, with interpretation available in several languages, including Arabic.

• Protection for ageing parents up to age 100 against conditions such as dementia, with maximum entry age at 80* and no medical underwriting required
• Lifetime protection for the child, covering death, terminal illness, total and permanent disability, with optional crisis care add-ons

SINGAPORE – Media OutReach Newswire – 8 October 2026 – Prudential Singapore (“Prudential”) has launched PRUActive Family Care (PAFC), a whole-of-life protection plan designed for Singaporeans caring for multiple generations. The plan enables caregivers to provide protection for both their child and ageing parents under a single policy.

PAFC provides lifetime protection for the caregiver’s child, as the life assured, covering death, terminal illness, total and permanent disability (TPD). It also offers critical illness add-ons that cover 182 conditions including juvenile conditions and mental illness.

The plan also includes Parent Guard Benefit that provides protection for the caregiver’s ageing parents up to age 100, without the need for medical underwriting. It offers financial and income support when a parent is diagnosed with specified age-related conditions, including Alzheimer’s disease, Dementia, Parkinson’s disease and Progressive Supranuclear Palsy.

Often, older adults may find it challenging to get insurance coverage due to health-related underwriting requirements. By including protection for parents under the caregiver’s policy, PAFC helps families address the protection gap.

The launch of PAFC comes as Singapore has become a super-aged society as the proportion of citizens aged 65 and above was at 21.4 per cent in 2026, an increase from 13.7 per cent in 2016. By 2035, more than one in four citizens is expected to be aged 65 and above¹. As such, there will be an increasing number of people taking on caregiving responsibilities.

Mr Manu Tandon, Chief Health & Protection Officer of Prudential Singapore, said: “As Singapore’s population ages and families become smaller, many caregivers in the “sandwiched generation” are caring for their ageing parents while raising their young children. These caregivers can face significant financial and emotional stress as they need to fund their children’s education, meet their parents’ healthcare needs – particularly when ongoing care is required – and save for their own retirement.”

Prudential’s recent research² also highlights the financial challenges many caregivers face. Nearly three in four Singaporeans (72 per cent) cited financial support as the most important form of assistance for caregivers, yet only 13 per cent believed their household would have enough savings if a caregiver had to stop working to provide care.

Added Mr Tandon: “PRUActive Family Care helps families prepare for rising caregiving demands with protection for both parents and child under one plan, while safeguarding the caregiver’s financial future. Importantly, the Parent Guard Benefit extends protection to the caregiver’s ageing parents without underwriting required, who may otherwise find it difficult to obtain coverage.”

Supporting the Needs of the Multigenerational Families by Protecting Ageing Parents

Reflecting the diverse needs of caregivers, PRUActive Family Care offers flexibility for individuals with or without children. It allows the caregiver (the policyowner) or their child to be the life assured, with the option to enhance the life assured’s coverage by up to five times through the Multiplier Benefit. In addition, the Parent Guard Benefit provides coverage for both parents of the caregiver.

The Parent Guard Benefit offers the following financial and income support³:

• Diagnosis Support: 20 per cent sum assured (SA) upon parent’s diagnosis of covered conditions (Alzheimer’s disease, Dementia, Parkinson’s disease and Progressive Supranuclear Palsy)
• Income Support: Up to 5 years upon parent undergoing the first treatment due to the diagnosis of the covered condition
• Accidental Fracture Hospital Income: Upon parent’s hospitalisation due to an Accidental Bone Fracture, a daily income of $150 will be paid for up to 10 days. This is an additional benefit that does not reduce the Parent Guard Sum Assured (SA).
• Family Support: Up to 8 per cent of SA upon parent’s death

Up to two parents can be included in the plan, with entry up to age 80* and coverage to age 100. Benefits are payable for eligible diagnoses in any of 13 recognised countries**.

Supporting Recovery and Rehabilitation

Beyond financial protection, PAFC is a holistic plan that provides value-added service to support recovery long after treatment or hospitalisation. The caregiver (policyholder), his/her child and parents, can tap on the recovery and rehabilitation services including physiotherapy, chiropractic care, osteopathy and traditional Chinese medicine, and home care and medical services.

For more information on PRUActive Family Care, including full product terms, eligibility criteria and exclusions, please visit https://www.prudential.com.sg/pruactive-family-care

Additional notes:

• With ageing, the risk of developing health conditions increases. In Singapore, an estimated 72,000 people were living with dementia in 2023, and the Ministry of Health projects this figure could rise to 135,000 by 2030 (Source: Ministry of Health Parliamentary QA, 4 November 2025)
• This protection is especially relevant as about 90 to 100 new cases of childhood cancer are detected each year in Singapore among children under the age of 15 (Source: Singhealth website, 5 October 2026)
• 1 in 3 adolescents aged 10–18 experience symptoms of anxiety, depression and loneliness (Source: Youth Epidemiology and Resilience (YEAR) Study, National University of Singapore, 2024)

* Based on age next birthday (ANB)

** Diagnosis must be provided by a registered medical practitioner in one of the following: Singapore, Australia, Brunei Darussalam, Canada, China (limited to class 3 hospitals in designated cities), Hong Kong, Macau, Malaysia, New Zealand, Taiwan, United Arab Emirates (Abu Dhabi and Dubai), United Kingdom, United States

Hashtag: #Prudential

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The issuer is solely responsible for the content of this announcement.

About Prudential Assurance Company Singapore (Pte) Ltd (Prudential Singapore)

Prudential Assurance Company Singapore (Pte) Ltd is one of the top life and health insurance companies in Singapore, serving the financial and protection needs of the country’s citizens for 95 years. As at 31 December 2025, it has S$66.3 billion funds under management. The company has an AA Financial Strength Rating from leading credit rating agency Standard & Poor’s and delivers a suite of well-rounded product offerings in Protection, Savings and Investment through multiple distribution channels including a network of 5,400 financial representatives.