Investcorp set to invest $1bn in GCC real estate over next five years

Saudi Arabia mulling $10bn more investment in Pakistan

• In December last year, the kingdom had extended the term of a $3 billion deposit to boost Pakistan's foreign currency reserves
• Today’s announcement comes a day after Chief of Army Staff General Asim Munir held a meeting with Prince Salman in Madina

DIFC hosts over 250 companies managing assets worth $450bn

• The contribution of financial companies operating from DIFC to the financial services sector in the country exceeded 13% of the nominal GDP of Dubai during 2021, Amiri said
• The DIFC has already been ranked first in the Middle East and among the top 20 globally on the Global Financial Centres Index for 2022

QatarEnergy, Chevron Phillips Chemical partner to build Ras Laffan complex

• Both firms will establish a joint venture company, in which QatarEnergy will own a 70% equity share, and CPChem will own a 30%
• The Ras Laffan Petrochemicals complex is expected to begin production of olefins and polyethylene in 2026

Production at Karbala refinery will start in mid-March: Iraq

• The refinery production from high-octane gasoline will be a grade of 95, with a capacity ranging from 8 to 9 million litres per day
• Iraqi oil minister said that the production can be increased to 12 million liters, which will cover a large proportion of up to 75 percent of domestic consumption

Saudi ports record 13% annual rise in 2022 freight tons

• The year-end statistics for 2022 highlight a 3.2 percent surge in container volumes at 10.355 billion TEUs compared to 10.035 billion TEUs a year earlier
• The growth in imported and exported boxes rose 5 percent to 4.839 billion TEUs from 4.628 billion TEUs in the previous period

UAE, Pakistan advancing parliamentary cooperation

• A delegation of the UAE Federal National Council's Parliamentary Division, led by Dr. Nidal Mohamed Al-Tunaiji met with Nuzhat Sadiq, Member of the Senate of Pakistan
• The two sides discussed the bilateral relations, and the importance of advancing cooperation between the two parliaments

UAE’s FNC participates in Asian Parliamentary Assembly meet

• During the meeting, the report of APA's Secretary-General was presented.
• Draft decisions of the Political Affairs Committee were discussed and approved.

DEWA completes 77 percent work in Hatta Water Reservoir

• The project is being built at a cost of approximately US$23 million and is expected to be completed in April 2023.
• The structural foundation works for all facilities and reservoirs are 100 percent complete,

UAE takes part in Arab Inter-Parliamentary Union’s executive committee meetings

• The meeting discussed objectives related to health, education and training support in the Union's strategy.
• The delegation also participated in the 8th meeting of the legal team stemmed from the executive committee.