The Hindu Editorial (Eye on Emirati flows) – Jul 18, 2023

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The Hindu Editorial (Eye on Emirati flows) – Jul 18, 2023:

eye on (phrasal verb) – watch carefully & closely.
Emirati (adjective) – relating to the United Arab Emirates; relating to the United Arab Emirates’ citizens.
(cash) flow (noun) – it refers to the inflow and outflow of cash and cash equivalents.
framework (noun) – structure, formation, scheme, system, set-up.
establish (verb) – start, begin, set up, initiate, form, create.
enable (verb) – make possible, allow, permit; make operational, activate.
cross-border (adjective) – across a border between two states/countries.
move (noun) – action, act, step, measure.
bilaterally (adverb) – between the two countries involved.
intermediary (noun) – agent, broker, middleman.
memorandum of understanding (MoU) (noun) – a formal (written) agreement between two (bilateral) or more (multilateral) parties outlined in a formal document.
central bank (noun) – the banking regulator of a county’s banking system. (e.g. The Reserve Bank of India (RBI) is the central bank of India).
capital account (noun) – it refers to the general ledger (account book) that records the transactions related to owners’ funds.
facilitate (verb) – assist, help, aid, promote, ease, make easy, make possible.
settlement (noun) – transaction, payment.
set to (adjective) – ready, prepared, equipped, primed.
put in place (phrase) – to implement, to establish.
Local Currency Settlement System (LCSS) (noun) – The creation of a Local Currency Settlement System (LCSS) will enable exporters and importers to invoice and transact in their respective domestic currencies, fostering their foreign exchange market.
consequence (noun) – outcome, result, effect, reaction; ramification, repercussion.
establishment (noun) – setting up, formation, creation.
mechanism (noun) – system, arrangement, scheme, policy, regime; apparatus, medium, agency, instrument, channel.
development (noun) – progress, progression, advancement, improvement, growth.
Foreign exchange (Forex) (noun) – it refers to exchanging the currency of one country for another at prevailing exchange rates.
foreign exchange market or Forex market (noun) – it is the largest and most liquid financial market in the world. It is where different currencies are bought and sold, with the exchange rate determining the value of each currency relative to another.
factor in (phrasal verb) – include something, consider something (as a relevant element).
Ease of Doing Business (EoDB) Index (noun) – it is an index annually published by the World Bank. Economies (i.e., countries) are ranked on their ease of doing business, from 1–190 ranking. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.
potentially (adverb) – likely, possibly, probably, may be.
serve as (verb) – act as, function as.
precursor (noun) – a thing that comes before another one; forerunner, predecessor, harbinger.
bilateral (adjective) – involving two groups or countries.
accord (noun) – treaty, agreement, settlement, deal.
Inter-Departmental Group (IDG) (noun) – An Inter-Departmental Group (IDG) of the Reserve Bank of India (RBI) was formed to examine the internationalisation of the rupee.
internationalisation (noun) – the action/process of making something to become international.
laudable (adjective) – praiseworthy, commendable, admirable, excellent.
hinge on (verb) – depend on, be based, be dependent.
adoption (noun) – approval, endorsement, acceptance, validation, support, choosing.
trade surplus (noun) – it occurs when the value of a country’s exports exceeds that of its imports.
surplus (noun) – the amount of an asset or resource that exceeds the portion that’s actively utilized.
widen (verb) – increase, expand, develop, enlarge.
Comprehensive Economic Partnership Agreement (CEPA) (noun) – a free trade agreement (FTA) between two countries.
come into effect (phrase) – come into force, become applicable, become operative, be effective (a new law, rule, change, etc.).
remunerative (adjective) – lucrative, profitable, profit-making, high-paying, rewarding.
avenue (noun) – method, way.
deploy (verb) – use, utilize, employ, exploit, make use of, take advantage of.
potential (adjective) – possible, likely, probable.
possibility (noun) – potentiality, probability, achievability, practicability, feasibility.
step up (phrasal verb) – increase, intensify; quicken, speed up, accelerate.
entrepôt (noun) – an intermediary storage facility (in a port) where goods are kept temporarily for distribution within a country or for re-export.
for instance (phrase) – for example.
gateway (noun) – a network/interface through which money transactions can be transferred.
given (preposition) – considering, taking into account, bearing in mind.
predecessor (noun as modifier) – a thing that existed before another one.
entity (noun) – establishment, structure, system.
Trucial States (noun) – The Trucial States, which became the United Arab Emirates in 1971, originally consisted of six sheikhdoms on the southern coast of the Persian Gulf: Abu Dhabi; Ajman; Dubai; Ras al-Khaima; Sharjah; and Umm al-Quwain. (“Sheikhdom” means “a region ruled by a sheikh”).
de facto (adjective) – actual, real, exiting, effective.
ties (noun) – association, relationship, bond, connection.
evolve (verb) – develop, advance, adapt (gradually).
environment (noun) – situation, background, backdrop, scenario, atmosphere, context.
base (verb) – form, found, establish, derive from (on a particular principle/idea).
cold (adjective) – impersonal, dispassionate, unemotional, indifferent, uncommunicative, unresponsive, formal.
cognisant (adjective) – aware, well informed about, familiar with.
emanate (verb) – emerge, ensue, come out, arise, originate, stem out.
eye (verb) – look at, contemplate, keep watch on, keep tabs on.