Sharjah, UAE--Expo Centre Sharjah (ECS) has unveiled its future projects and forthcoming initiatives to develop and enhance the exhibitions sector and bolster its role in driving the growth of Sharjah’s economy. Promoting the emirate’s business tourism potential and opening up growth prospects across various sectors, the ECS’s plans are geared...

Abu Dhabi, UAE--The UAE and Kenya have signed an investment memorandum establishing a framework for investment cooperation in digitalisation and technology. In addition to exploring investments in digital infrastructure and artificial intelligence (AI) services in Kenya, the cooperation may include developing data centre projects with a total capacity of up...

Abu Dhabi, UAE-- The United Arab Emirates has been ranked first globally for the third consecutive year in the Global Entrepreneurship Monitor (GEM) report for the year 2023-2024. The country recorded a rate of 7.7, a record number in the history of the report. The UAE was recognised as the...

Abu Dhabi, UAE--The Arab Bank for Economic Development in Africa (BADEA) expects the bank's annual financing to reach US$2.5 billion by the end of 2024. According to its director general, Dr. Sidi Ould Tah, the annual financing of the bank is witnessing a steady increase, rising from US$2 billion in...

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...

ABU DHABI, UAE – Chairman of Eagle Hills International Mohamed Alabbar has said that US$4 billion joint venture Binaa Al Bahrain company aims to create expansive mixed-use projects, offering diverse residential, commercial and entertainment opportunities designed to elevate the overall local community experience. The JV was set up by an...

Riyadh, Saudi Arabia - Saudi Arabia has revised the regulations of its Privatization Law, setting the minimum limit for a public-private partnership project at $54 million (SR 200 million). The amended executive regulations, published in the official gazette Umm Al-Qura, outline that the minimum value for the transfer of asset...

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...

Muscat, Oman--The Oman Investment Authority (OIA) has unveiled a new fund called “Future Fund Oman” valued at US$5.19 billion. The fund will serve a wide range of investment categories, develop the national economy and attract foreign investments. According to the Oman News Agency (ONA), According to the Oman News Agency...

Dubai, UAE--The Real Estate Regulatory Agency (RERA), the regulatory arm of Dubai Land Department (DLD), signed a memorandum of understanding (MoU) with ‘Zand Digital Bank’ identifying Zand as an approved bank authorised by DLD to oversee real estate development escrow accounts and offer associated services. Real estate escrow accounts are...

RIYADH, SAUDI ARABIA - The Public Investment Fund (PIF) announced on Monday the establishment of Dan Company, specializing in agritourism and ecotourism, according to a PIF press release. The company plans to develop unique tourism projects around cities across Saudi Arabia with attractive natural and farmed landscapes, the release said....

The bank, according to a statement, "is putting to work more than $40 billion", around $9 billion more than previously programmed. In 2021, the bank announced a goal to reach an average of 35 percent by 2025 and is currently ahead of schedule, running at an average of 36.3 percent...

ABU DHABI, UAE - Emirates Development Bank (EDB) has committed US$350 million (AED 1.3 billion) to support the Energy Transition Accelerator Financing (ETAF) platform to accelerate the financing and drive funding of renewable energy projects in developing countries. The ETAF platform is a global climate finance facility established by the International...

Manama, Bahrain-- Bahrain and Russia have held discussions to enhance cooperation in various fields of the two countries' economies. In this regard, Dr. Mohammed bin Mubarak Bin Daina, Minister of Oil and Environment and Special Envoy for Climate Affairs, met Roman Panov, the President of the Russian GEOTEK company, a...

Dubai, UAE-- Turkey has suspended joint-energy projects with Israel over the latter's invasion and bombardment of the Gaza Strip, according to Turkish Minister of Energy Alparslan Bayraktar. The minister in a statement said: "It would be inappropriate to talk about the implementation of projects with Israel under such conditions. The...

This is due to the successful launches of new projects.

The firms will continue to work closely on future global projects.

SHENYANG, CHINA – Investments in the country’s northeast have grown over the past years as several multinational corporations put in more money or enhanced investments in the area. One such investment is in the mega Saudi-Chinese petrochemical project in Panjin City, Liaoning Province, by Aramco and joint venture partners NORINCO...

Its revenues for the first nine months stood at US$3bn.

Manama, Bahrain--Bahrain Economic Development Board (Bahrain EDB) has attracted $295 million in direct investments within the Information and Communications Technology (ICT) sector as part of a total projected direct investment worth $1.4 billion, during the first nine months of 2023. Stemming from 14 local and international projects, the direct investments...

DUBAI, UAE - Dubai remains the top global destination for attracting Greenfield Foreign Direct Investment (FDI) projects, with the emirate attracting 511 such projects in H1 2023, as per Financial Times ‘fDi Markets’ data - the comprehensive online database on cross-border greenfield investments. Dubai continues to set new benchmarks in...

Amman, Jordan-- Jordan and the World Bank have held discussions to enhance cooperation in infrastructure projects and the public-private partnerships. In this connection, Jordanian Minister of Investment Kholoud Al Saqqaf met with World Bank Vice President for Infrastructure Affairs Guangzhe Chen in Amman. During the meeting, Al Saqqaf reviewed a...

JEDDAH, SAUDI ARABIA - The Board of Executive Directors (BED) of the Islamic Development Bank (IsDB) approved to finance projects worth US$800 million for improving the living conditions of the people in member countries and attaining Sustainable Development Goals (SDGs). IsDB President Dr. Mohammed Al-Jasser said that the projects were...

New customers and projects were added in H1 2023.

Abu Dhabi, UAE-- The Crown Prince of Abu Dhabi and chairman of the Abu Dhabi Executive Council Sheikh Khaled bin Mohamed bin Zayed Al Nahyan has reviewed progress of the projects undertaken by the government in the emirate. The crown prince in this connection chaired a meeting of the council...

Riyadh, Saudi Arabia-- Seeking to establish a broad framework for cooperation in several areas, the GCC and the Arab Planning Institute (API) have signed a a memorandum of understanding (MoU). The MoU was signed during a meeting between Jassem Mohamed Albudaiwi, GCC Secretary General of the Gulf Cooperation Council (GCC),...

Dubai, UAE-- During the first half of 2023 the Dubai Police has recorded some 65,942 smart transactions at its 22 "smart police stations" spread across the emirate of Dubai. The police said that a total of 65,942 smart transactions were conveniently and smartly processed without any human intervention. These included...

BAGHDAD, IRAQ -  Secretary General of the Gas Exporting Countries Forum (GECF) Mohammed Hamel on Friday stressed the importance of Iraq in the oil and gas sector. Iraqi Ministry of oil said in a statement, “Deputy Prime Minister for Energy Affairs and Oil Minister Hayyan Abdul Ghani, met GECF Secretary...

MANILA, PHILIPPINES - Asian Development Bank's financing partners committed US$11.4 billion to confinance projects in 2022 that boosted the resilience of developing member countries in Asia and the Pacific, said a Partnership report. The Partnership Report 2022: Driving Growth, Boosting Resilience showcases how ADB and its partners are helping developing...

ROME, ITALY - Building on growing momentum to tackle environmental problems by addressing the ways in which our food and fiber are produced, the Global Environment Facility has approved 26 projects led by the Food and Agriculture Organization of the United Nations (FAO). "To achieve the 2030 Agenda we need...

Dubai, UAE--The UAE has unveiled what it calls as the next generation of future design tools, enabling government entities to draft and adopt practical initiatives and projects that will enhance the UAE's readiness for the future. The launch took place during the first meeting of the UAE Future Network, with...

Riyadh, Saudi Arabia--Saudi Arabia and Oman have launched a joint tourist visa to boost trade and investment cooperation in tourism-related projects. The unified tourist visa between the two countries was one of the several initiatives agreed upon at a high-level meeting held between officials of the two countries.  The new...

BRUSSELS, BELGIUM - The European Investment Bank (EIB) lending to circular economy projects has consistently increased over the years, amounting to US$3.6 billion (€3.4 billion) over the past five years, with a record level of US$1.18 billion alone in 2022. The figures were released ahead of the World Circular Economy...

Doha, Qatar-- Qatar is keen to obtain rights for oil and gas exploration in Iraq, according to Iraq's oil minister who was speaking at the Qatar Economic Forum. Iraqi Oil Minister Hayan Abdel Ghani confirmed that Qatar is interested in participating in obtaining rights for oil and gas exploration in...

ABU DHABI, UAE -  A senior UAE official of the Ministry of Energy and Infrastructure (MoEI) visited Germany and the Netherlands to reinforce existing partnerships and discuss common goals, energy transition, technology deployment and potential projects. Sharif Al Olama, Under-Secretary for Energy and Petroleum Affairs MoEI visited Germany and the...

Tehran, Iran-- Iran is looking to deepen energy ties with Russia as the latter is keen to explore and develop oil and gas projects in the Islamic Republic. This was stated by Russian Deputy Prime Minister Alexander Novak during talks with Iranian Oil Minister Javad Owji in Tehran. He is...

Abu Dhabi, UAE-- Iran is keen to boost transportation ties with the UAE and has invited investors from the country to take part in transportation projects in the Islamic Republic. In this connection, Iran Minister of Roads and Urban Development, Mehrdad Bazrpash, met with Sheikh Mansour Bin Zayed Al Nahyan,...

DUBAI, UAE -  Chairman of the Dubai Supreme Council of Energy Sheikh Ahmed bin Saeed Al Maktoum chaired the 76th meeting of DSCE which was held virtually in the presence of Saeed Mohammed Al Tayer, Vice Chairman of the Council. Saeed Mohammed Al Tayer, also the MD and CEO Dubai...

Finance Minister Bruno Le Maire gave no details of Monday's talks with Musk, saying simply that "all of today's investments are the fruit of months or even years of negotiations". During a US trip in December, Macron held an unannounced face-to-face meeting with Musk, saying later the two had had...

The emirate achieved an 89.5 percent year-on-year growth in 2022 and Foreign Direct Investment capital inflows of $12.79 billion. The emirate's share of global Greenfield FDI projects in 2022 reached 4 percent, said Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and Chairman of Dubai Executive Council.

Jeddah, Saudi Arabia--The Islamic Development Bank (IsDB) Group has signed 77 financing agreements worth $5.4 billion with 24 member countries during its annual meeting in Jeddah. The four-day event hosted dozens of agreements, panels, summits, and business-to-business meetings with the high-level participation of its member countries. The agreements aim to...

Pact involves investment of over US$272 million.

SHARJAH, UAE- Arada is investing in a new research and development (R&D) facility here, bringing a new form of sustainable water treatment to the UAE, and the Middle East, for the first time. Arada's joint venture agreement is with Hungarian water tech firm Biopolus, Sharjah Research Technology and Innovation Park...

Abu Dhabi, UAE--Abu Dhabi Future Energy Company (Masdar) announced today it has achieved financial close on three solar photovoltaic (PV) projects it is developing in Uzbekistan. Construction will begin imminently on the plants, which will have a combined capacity of around 900 megawatts – the largest solar development programme in...

Abu Dhabi, UAE -- Borouge is supplying sustainable “Made in UAE” polyethylene materials worth AED120 million ($32 million) that are used in several development projects across the Middle East and Africa region. Borouge’s contribution to these mega projects is driven by collaboration with the local manufacturing companies who selected quality...

Jordan, the United Arab Emirates, Egypt and Bahrain announced the signing of 12 agreements and partnerships worth over US$2 billion for nine joint industrial projects. The announcement came following a meeting of the Integrated Industrial Partnership for Sustainable Economic Development. Jordan Prime Minister Bisher Khasawneh oversaw the signing of the...

At least six banks, seeking to open branches in Saudi Arabia, have obtained licenses from the Saudi Central Bank to conduct operations in the Kingdom in the coming months.

"An effective partnership model between the public and private sector in Dubai has helped transform innovation into a culture that has enhanced the UAE’s competitiveness. Innovation has also helped in formulating strategies and unlock new achievements,” Al Basti adds.

At the moment, the market is solidly Dubai, which is recognised as the world leader in branded residential offerings with all eyes on the city’s upcoming openings. The slower approach of Abu Dhabi will be something to watch as it makes large-scale investments into the luxury sector, he adds.

AMMAN, JORDAN - Chairman of the Jordan Chamber of Commerce (JCC), Khalil Haj Tawfiq said Iraq is an "important" trade partner and gateway for Jordan's economy. Haj Tawfiq said, "Jordan and Iraq have wide, prolific potentials, fields and grounds to build economic integration, in light of the strong brotherly relations,...