• Abu Dhabi Chamber and UAEIIC team up to boost investment

    Abu Dhabi, UAE--The Abu Dhabi Chamber of Commerce and Industry has signed an agreement with the UAE International Investors Council to collaborate in investment and futuristic economic sectors. According to the agreement, the Abu Dhabi Chamber and the Council will exert their best efforts to eliminate any obstacles that may...
  • Investcorp Capital names new CFO

    Rohit Nanda, the new CFO, will take up his new job next month.
  • Hyundai to invest $50bn in South Korea

    The automaker will make a bigger push to produce EVs.
  • Mubadala invests in Avanse

    Avanse is education-focused non-banking financial company.
  • OPEC chief calls for more investments in oil industry to meet energy demand

    Abu Dhabi, UAE--The Organisation of the Petroleum Exporting Countries (OPEC) has called for increased investments in the oil industry to meet global energy demands and sustain economic growth. According to its secretary general, Haitham Al Ghais, these investments are crucial for ensuring reliable energy supplies for current and future generations....
  • IOTA Foundation launches US$10m investment fund at Investopia 2024

    ABU DHABI, UAE – Minister of Economy and Chairman of Investopia Abdullah bin Touq Al Marri attended the unveiling of a new investment fund valued at US$10 million by the IOTA Ecosystem DLT Foundation during Investopia 2024. The fund's primary goal is to promote the development of TradeTech solutions and...
  • ADX partners with Eureeca

    The collaboration will bolster accessibility to ADX IPOs.
  • Non-oil sectors contribute 50% to Saudi Arabia’s real GDP in 2023

    RIYADH, SAUDI ARABIA – Non-oil activities in the Kingdom have achieved a historic milestone, reaching a 50 percent share of the country's real GDP in 2023 – the highest level on record, according to an analysis of the General Authority for Statistics data by the Ministry of Economy and Planning....
  • UAE, Hungary ink pact to enhance trade, investment ties

    ABU DHABI, UAE – The United Arab Emirates and Hungary have signed an economic cooperation agreement aimed at stimulating trade and investment between the two nations.   The agreement was signed in the Hungarian capital Budapest by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and...
  • Walaa posts $39m net profit

    The insurance provider had suffered a loss of $18.15m in 2022.
  • Lego net profit falls

    Its net profit fell five percent to 13.1 billion kroner ($1.24bn).
  • UAE and Greece hold talks to widen economic cooperation

    Athens, Greece-- The UAE and Greece have held talks in Athens on a wide range of economic and strategic issues to deepen the cooperation between the two countries. In this connection, Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and COP28 President, held several bilateral meetings...
  • High inflation leaves Nigeria struggling ahead of Ramadan

    Lagos, Nigeria - The holy fasting month of Ramadan begins early next week in Nigeria, with the worst economic crisis in a generation leaving many in Africa's most populous Muslim country struggling to buy food. With food inflation at around 35 percent, worshipers taking part in Friday prayers at the central...
  • Qatar and Estonia sign agreement to avoid double taxation

    Doha, Qatar--Qatar and Estonia have signed an agreement to avoid double taxation and prevent income tax evasion. The agreement was signed by Minister of Finance Ali bin Ahmed Al Kuwari and Minister of Economy and Information Technology in Estonia Tiit Riisalo. Stressing the importance of the agreement, Al Kuwari said...
  • Saudi tech show LEAP 2024 to close on ‘record-breaking’ note

    Riyadh, Saudi Arabia--The biggest tech show in the Middle East, LEAP 2024, hosted by Saudi Arabia in Riyadh, is preparing for what organizers are terming as "record-breaking" final day with more announcement of investments expected to be made on the occasion. Abdullah Al-Swaha, Saudi minister of communications and information technology,...
  • Dubai Chambers, DP World partner to lure global investment to the emirate

    Dubai, UAE--Dubai Chambers has signed a memorandum of understanding (MoU) with DP World to enable the chambers to leverage DP World’s global network to establish and host international representative offices at the group’s facilities around the world. The partnership aligns with the goals of the Dubai Global initiative launched by...
  • PIF, Mumtalakat collaborate to boost investment opportunities in Bahrain

    Riyadh, Saudi Arabia -- The Public Investment Fund (PIF) and Mumtalakat Holding Company, the sovereign wealth fund of the Kingdom of Bahrain, Tuesday signed a memorandum of understanding (MoU) to expand cooperation and enable investment opportunities in Bahrain, PIF said. PIF said in a statement that the MoU provides multiple...
  • Saudi Arabia sees over $11.9bn investments on Day 1 of LEAP 2024

    Riyadh, Saudi Arabia -- Saudi Arabia's Ministry of Communications and Information Technology announced has said that the Kingdom witnessed technology investments on the first day of LEAP 2024 worth more than $11.9 billion. Amazon Web Services will invest $5.3 billion in the Kingdom to create a high-capacity cloud region, the...
  • UAE vital to enhancing global economic growth: Officials

    Abu Dhabi, UAE-- The UAE has expanded its network of trading partners around the world through comprehensive economic partnerships, contributing to increasing trade and investment flows and enhancing global economic growth, according to top officials from the country. Top economic officials have stressed the UAE's significant role in supporting the...
  • Qatar and China entrepreneurs explore partnerships, JVs in tech and energy

    Doha, Qatar-- Businessmen and entrepreneurs from Qatar and China have discussed opportunities to set up joint ventures and commercial partnerships in various sectors, including technology, healthcare, energy, and real estate. This came in the Qatari-Chinese Business Meeting, hosted by the Qatar Chamber (QC) in the presence of QC's First Vice-Chairman...
  • UAE real estate sector transforms with cross-border payments revolution

    Dubai, UAE - Leading financial institutions are spearheading a transformative wave in the UAE real estate sector through the introduction of seamless cross-border payments. The initiative is poised to enhance accessibility and efficiency for global investors seeking to engage in property investment within the UAE.  Traditionally, the process of investing...
  • Egypt signs several MoUs with global developers in renewable energy

    Cairo, Egypt--Egypt has signed seven Memoranda of Understanding (MoUs) on Wednesday in green hydrogen and renewable energy with seven global developers with expected investments worth $41 billion over ten years, the Egyptian Government announced. Egyptian Minister of Planning and Economic Development Hala Al-Saeed said that the agreements represent a new...
  • QDB signs MoU with Global Ventures

    The collaboration is expected to boost private sector in Qatar.
  • Goldman Sachs, Mubadala ink pact

    The two firms have signed a $1 billion private credit deal.
  • Majority of WTO members sign investment deal for development

    The deal aims to facilitate "the flow of foreign direct investment... particularly to developing and least-developed" countries with the aim of fostering sustainable development, according to the text. WTO chief Ngozi Okonjo-Iweala called it a "pioneering agreement that promises to help its signatories attract the foreign direct investment they want...
  • Jordan, Oman chambers eye enhancing trade ties, cooperation

    AMMAN, JORDAN – Jordan Chamber of Commerce (JCC) and Oman Chamber of Commerce and Industry on Saturday discussed enhanced cooperation and investment partnership.The two sides pledged during a meeting to forge robust commercial relations, remove hindrances, reactivate bilateral agreements, exchange more visits by economic teams and hold joint exhibitions.Participants stressed...
  • Korea’s H2O sets up base in Abu Dhabi

    It will collaborate with Abu Dhabi Investment Office.
  • Dubai food and beverage sector stirs up with investment of US$577m

    Dubai, UAE-- The food and beverage sector in Dubai has attracted new FDI worth $577 million from 2019 to 2023, which was made by 48 international companies from 23 countries, according to data from FDI Intelligence. The UAE’s food and beverage sector generated $16.4 billion in retail sales, including fresh...
  • Saudi film industry gets boost with $100m investment fund

    Riyadh, Saudi Arabia -The Middle East Financial Investment Company (MEFIC Capital) has unveiled the establishment of the Saudi Film Fund, boasting a total capital of SR375 million ($100 million), with a substantial 40% investment from the Cultural Development Fund. This collaborative effort signifies a significant stride in the Kingdom's film...
  • Saudi Arabia aims to build ties with Canada in scientific and research fields

    Riyadh, Saudi Arabia-- Saudi Arabia is exploring investment opportunities in education and aiming to attract investments to the kingdom from Canada. In this connection, the Saudi Minister of Education, Yousef bin Abdullah Al-Benyan, along with the accompanying education delegation, visited several educational institutions and universities in Canada, where he met...
  • Tenaris sets up base in Abu Dhabi

    The global pipe maker invested US$60m in the business.
  • Saudi Arabia extends online services to help foreign firms set up regional hqrs in kingdom

    Riyadh, Saudi Arabia - Saudi Arabia's Ministry of Commerce has announced the provision of online services for foreign companies looking to establish regional headquarters in the country after securing a license from the Ministry of Investment. The services encompass issuing regional headquarters as a branch or as a new foreign...
  • solutions by stc, Devoteam ink MoU

    The aim is to foster avenues for collaboration in technology.
  • SCCI and Oman Chamber aim to boost investment cooperation

    Sharjah, UAE--The Sharjah Chamber of Commerce and Industry (SCCI) and the Oman Chamber of Commerce and Industry (OCCI) discussed ways of enhancing cooperation in the investment field and developing mechanisms for promoting the joint efforts aimed at supporting the business community in Sharjah and Oman. The two sides explored promising...
  • In Middle East, ‘manufacturing’ is a new buzzword

    Form Saudi Arabia to the UAE, Qatar to Kuwait, governments of the region compete to jumpstart an industrial sector. But doubts remain whether it can be pulled off.
  • Gucci owner says profit fell 17%

    Sales retreated 4 percent to 19.57 billion euros.
  • Qatar and Egypt discuss ways to boost economic, trade ties

    Doha, Qatar-- Qatar and Egypt are looking to boost trade and economic ties between the two countries, besides exploring ways to encourage investors from Qatar to widen their investment in Egypt. In this regard, Qatar Chamber First Vice-Chairman Mohamed bin Ahmed bin Twar Al Kuwari's met with Vice President of...
  • UAE and Jordan leaders discuss boosting economic, investment ties

    Amman, Jordan-- The UAE and Jordan have explored opportunities for collaboration in the fields of economy, investment, food security, renewable energy and sustainability in a meeting between the UAE President Sheikh Mohamed bin Zayed and Jordan's King Abdullah in Amman. The meeting between the two leaders, which took place at...
  • US stocks rebound from sell-off on Fed disappointment

    New York, United States - Wall Street stocks rose early Thursday, rebounding from the prior session's pullback as markets awaited more big tech earnings later in the day. Major indices had tumbled on Wednesday after Federal Reserve Chair Jerome Powell dampened expectations for an imminent cut in interest rates. Adam Sarhan...
  • Number of millionaires in BRICS likely to rise by 85 percent in 10 years, says report

    DUBAI, UAE - The total investable wealth currently held in the BRICS bloc amounts to US$45 trillion and its millionaire population is expected to rise by 85 percent over the next 10 years, a report said.   There are currently 1.6 million individuals with investable assets of over US$1 million...
  • UAE and UK seek to boost economic cooperation

    Abu Dhabi, UAE-- Looking to enhance economic ties between the UAE and the United Kingdom, Abdulla bin Touq Al Marri, Minister of Economy, recently met with Greg Hands, British Minister of State (Department for Business, Energy Industrial Strategy). The bilateral meeting explored new opportunities for economic and investment cooperation, as...
  • Norway’s sovereign wealth fund posts record US$213bn profit

    Oslo, Norway - Norway's sovereign wealth fund, the world's biggest, said Tuesday it raked in a record profit of 2.2 trillion kroner ($213 billion) last year, driven by tech stocks and a weak national currency. The fund's total value reached close to 15.8 trillion kroner last year. The 16.1 percent return...
  • Bahrain and Hungary aim to boost trade, investment ties

    Budapest, Hungary--Bahrain and Hungary have held discussions to boost economic and trade ties between the two countries. In this regard, Khalid Najibi, First Deputy of the Chairman of the Bahrain Chamber of Commerce and Industry (BCCI), highlighted the high potential of investment opportunities for the Bahraini private sector and its...
  • Qatar and Nepal discuss boosting economic cooperation

    Doha, Qatar--Qatar and Nepal have held talks to enhance commercial and economic relations between the two countries, explored the investment climate, numerous opportunities available in both countries, and identified the most important sectors for cooperation and partnership In this regard, the acting general manager of the Qatar Chamber, Ali Saeed...
  • Oman’s MSX-listed banks see 18.6 percent net profit growth in 2023

    MUSCAT, OMAN - Omani banks listed on the Muscat Stock Exchange (MSX) recorded net profits of US$1.17 billion (RO453.5 million) in 2023, up 18.6 percent from US$992 million (RO382.3 million) in 2022. According to the Oman News Agency, the banking sector benefited from several local economic indicators in 2023, including...
  • US economy defy expectations to grow stronger in Q4 2023

    Washington, US - US economic growth was stronger than expected in the final months of 2023, government data showed Thursday, offering a boost to President Joe Biden as he starts his reelection campaign. The world's biggest economy expanded at an annual rate of 3.3 percent in the fourth quarter, fueled by...
  • DMCC launches global trade roadshow in London to attract FDI from UK

    Dubai, UAE--DMCC has kicked off the ninth edition of its global trade roadshow, Made For Trade Live, in London, seeking to attract a greater amount of foreign direct investment (FDI) from the United Kingdom. DMCC is the world’s flagship free zone and Government of Dubai Authority on commodities trade and...
  • Alef Group announces US$84m sales transaction at ACRES 2024

    SHARJAH, UAE - Alef Group concluded its participation in the ACRES Real Estate Exhibition 2024 with resounding success, generating significant demand and securing approximately US$84 million (AED310 million) in sales transactions for its residential projects. CEO of Alef Group Issa Ataya said, “ACRES was a good opportunity to connect with...
  • Qatar Chamber discusses ways to boost ties with Korean companies

    Doha, Qatar--The Qatar Chamber (QC) discussed ways to enhance cooperation and exchange expertise with Korean companies in agriculture and food security. The issues were discussed in a meeting with a Korean delegation representing from the Hyundai Research Institute (HRI). The meeting was attended by QC board member and Chair of...
  • UAE foreign investment projects second highest in world: UNCTAD

    Abu Dhabi, UAE -- The UAE recorded the second-highest increase in the number of new foreign investment projects around the world after the US in 2023, a report by the United Nations Conference on Trade and Development (UNCTAD) said. The number of these projects increased by 28 percent compared to...
  • Google to invest US$1bn in UK data centre

    It will meet growing demand for internet services in the region.