China edges out Japan as world’s top vehicle exporter
In recent years, China's auto sector has grown remarkably largely because of massive investments in electric cars, an area where...Business
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...Business Economy Global
A deposit to fund green projects in Middle East
HSBC UAE has managed to secure the first green deposit from Saudi British Bank (SABB) through its new program dedicated...The deposit will be used solely to finance green initiatives
HSBC launched in June its Green Deposits offering for commercial and institutional clients in the UAE
Mubadala Capital buys Taco Bell franchisee
Mubadala Capital, the financial investment arm of Abu Dhabi’s sovereign investor Mubadala, has acquired one of the largest Taco Bell...Mubadala Capital bought K-Mac Holdings Corp from Lee Equity Partners Opportunities Fund
Mubadala Capital has invested about $1.8 billion in the F&B sector in the past seven years
Savills says GCC real estate to benefit from global migration
The Middle East’s real estate sector may benefit from the return of global population movement to pre-pandemic levels in 2024.Improvement in global migration has pushed the real estate sector to “new heights”
This also comes as governments in the regions have gradually lifted pandemic-related restrictions on consumer activities
Sukuk momentum may continue over the medium term on investor appetite: Fitch
Sukuk momentum is expected to continue over the medium term supported by intact investor appetite, funding diversification and refinancing needs,...Sukuks amounting to $57.3 billion were issued in the GCC region, Malaysia, Indonesia, Turkey and Pakistan in the third quarter of 2021.
Global outstanding sukuk reached $775.4 billion in the third quarter, 2.8 percent higher than the previous quarter.
UAE, Senegal to set up joint business council
The MoU was signed on the sidelines of the Expo 2020 Dubai in the presence of President Macky Sall of...For the UAE, the MoU signatory was Abdullah Mohamed Al Mazrouei, Chairman of the Federation of UAE Chambers of Commerce and Industry
For the African country, it was Aba Traore and Elimane LAM on behalf of the Consortium of Employer’s Unions of Senegal
Africa needs to revamp transportation for economic development: DP World CEO
Africa offers significant potential for investment and economic partnerships that can create mutual benefits for UAE businesses and their African...Africa offers significant potential for investment and economic partnerships, Sultan Bin Sulayem said at Global Business Forum Africa.
Dubai keen to transfer its experience to help develop business in Africa, Bin Sulayem said.
DSOA program to aid techpreneurs and startups
DSOA — a wholly-owned government free zone — is expected to launch the program at GITEX Future Stars 2021.DSOA — a wholly-owned government free zone — is expected to launch the program at GITEX Future Stars 2021
The tech-focused startup event will run from October 17 to 20 at the Dubai World Trade Center
Oman to get green ammonia plant at Salalah
The new project, named SalalaH2, will target the production of up to 1,000 tons per day of green ammonia.An international consortium has signed an agreement to develop a green hydrogen and green ammonia project at the Salalah Free Zone in Oman
The consortium consists of the alternative energy business unit of Oman’s national petroleum investment company OQ, Marubeni Corporation, Linde, and Dutco
DMT issues a new Code of Practice for marina operations
The Department of Municipalities and Transport (DMT) has announced a new Code of Practice (CoP) encompassing the primary Health, Safety...The new code will push the emirate's ambition to become one of the top five global maritime centers by 2030.
The code stipulates mandatory attestation of Marina Berth Leasing Contracts by DMT no later than six months or at the time of the next contract renewal.
Morocco is Africa’s new automotive manufacturing hub
Morocco’s Automotive industry is growing exponentially each year with car sales exceeding 160,000 units in 2021, and creating over 220,000...Morocco’s Automotive industry is growing exponentially each year with car sales exceeding 160,000 units in 2021, and creating over 220,000 direct jobs.
According to several international experts Morocco’s auto industry is set to contribute to as much as 24% to the Moroccan GDP by 2022
