UAE investments abroad reach US$2.5trn in beginning of 2024, says UAEIIC
ABU DHABI, UAE – The United Arab Emirates has solidified its position as a leading regional and global player in...Business Economy Geostrategy Global
Foreign investments boost Saudi financial market
Saudi Arabia's financial market is on an upward trajectory, fueled by substantial foreign investments and strategic economic diversification under Vision...Business
Invictus plans $272m expansion
The company will invest through acquisitions and JVs.Abu-Dhabi Securities Exchange-listed Invictus is a prominent trader with growing business in the African markets.
Invictus recently reported completing over one million metric tons of agro-commodity exports to Egypt during 2023.
Foxconn pulls from $19.4 bn deal in India to make semiconductors
The plan was to boost New Delhi's self-reliance in the technology supply chain, given that semiconductors are an essential component...Foxconn and Vedanta signed in September to set up a chip factory in India's Gujarat state but on Thursday Taiwanese firm said both parties mutually agreed to part ways
Vedanta did not confirm pull-out, it said that it is fully committed to its semiconductor fab project, adding that there are other partners in line to set up India's first foundry
Taaleem nine-month revenue up 30.3%
The revenue for the period ended May 2023 reached $193m.Taaleem's net profit grew marginally by 1 percent YoY to reach 28.2 percent, while the like-for-like net profit margin saw a 2.4 percent YoY improvement.
The growth in net profit is primarily attributed to the operational efficiency and increasing enrollment in the company's Premium schools portfolio.
ADGM adopts Abu Dhabi onshore hotel and tourism legislation
Abu Dhabi, UAE -- Abu Dhabi Global Market (ADGM) has issued the ADGM Hotel and Tourism Regulations 2023 (Tourism Regulations),...The onshore tourism legislation includes the regulations and rules concerning hotels and tourism sectors administered by the Department of Culture and Tourism (DCT).
ADGM’s Registration Authority retains the right to issue commercial licenses to hotels and tourism establishments operating within its jurisdiction.
Dubai Investments, E20 Investment to develop agricultural land in Angola
Dubai, UAE--Dubai Investments and E20 Investment have signed a memorandum of understanding (MOU) to develop 3,750 Ha of agricultural land...The two entities signed an MoU to develop land in Angola, harnessing the country's agricultural sector for growth and economic development
The agreement looks to convert the land into a thriving agricultural hub, yielding 28,000 tons of rice and 5,500 tons (peak production) of avocados
Business reality TV series ‘Beban’ forays into Saudi Arabia
Manama, Bahrain: Entrepreneurship-themed reality television show ‘Beban’ announces the expansion of its third season to Saudi Arabia, as Hope Ventures,...The expansion comes in line with GFH Capital’s efforts to support Saudi-based startups and provide them with the tools, resources, and networks
Beban has so far featured 62 businesses, resulting in successful co-investments by the private and public sectors exceeding $6 million
UAE and Mongolia to ramp up trade and investment ties
Ulaanbaatar, Mangolia--The UAE and Mongolia are looking to boost trade and investment cooperation with a focus on the agriculture sector.The...Dr. Thani bin Ahmed Al Zeyoudi, UAE's Minister of State for Foreign Trade, is leading a UAE delegation to the Mongolia Economic Forum in Ulaanbaatar
During the meetings both sides explored the means to develop the partnership, underlining their commitment to enhance trade and investment cooperation
Abu Dhabi to provide UAE nationals with 5,000 jobs in health sector
Abu Dhabi, UAE-- Some 5,000 new jobs have been opened up in the healthcare facilities by the Department of Health,...The department has directed the healthcare facilities to work toward achieving the set targets under the Emiratisation program within their staff
The Emiratisation initiative is designed to boost the number of Emiratis working in medical profession as doctors and nursing staff
Britain’s biggest water supplier Thames Water wins financial rescue
Thames Water, which supplies 15 million homes and businesses in London and elsewhere in southern England, has debts of almost...The company, reported to have been at risk of renationalization ahead of the latest news, said shareholders agreed to provide further funding worth £750 million ($960 million).
However, it falls short of the £1 billion it sought on top of £500 million secured from shareholders in March.
Algeria firm sign $740m contract with TotalEnergies
Algiers, Algeria - Algeria's state oil company Sonatrach said on Sunday it had signed contracts to boost gas production under an...The companies will increase output from two Sahara desert fields in southeastern Algeria, for export to France and elsewhere in Europe
They also signed "a memorandum of understanding in the field of energy transition and renewable energies", it added
