US to sell drones worth $4bn to India to bolster its defenses against China
The United States approved a $4 billion sale of state-of-the-art drones to India, offering a new edge to the growing...Business Geostrategy
FDI inflows into Saudi Arabia fall 14.4 percent in third quarter: GASTAT
Riyadh, Saudi Arabia -- Foreign Direct Investment inflows into Saudi Arabia hit SAR 17 billion in the third quarter of...Business
Amazon buys iRobot for $1.7bn
The deal reinforces its interest in robotics and automation.iRobot, building robots and "intelligent home" innovations, introduced Roomba self-operating vacuums a decade ago
The deal to buy iRobot for $61 per share along with acquiring the company's debt is subject to approval of shareholders and regulators
There’s light at the end of the tunnel for tech stocks
However, there are numerous economic sectors where tech penetration remains in its infancy, such as in logistics, e-commerce and supply...Many of the tech names that outperformed throughout the past decade have seen the steepest falls. Some have seen 70 percent or more wiped off their values, writes an expert
There are numerous economic sectors where tech penetration remains in its infancy, such as in logistics, e-commerce and supply chains, which retain enormous growth potential
UAE to invest $1bn in Pakistani companies across various sectors
The move aims to explore new investment opportunities and areas for cooperation in the best interest of the two countries.The move aims to explore new investment opportunities and areas for cooperation in the best interest of the two countries
The two countries will cooperate in various fields, including gas, energy infrastructure, renewable energy, logistics etc
PIF of Saudi Arabia sets up investment firm in Egypt
Saudi Arabia's Public Investment Company (PIF) has established a new company in Egypt to drive investment in the north African...The new company will look at sectors as wide as infrastructure, real estate development, and health care to make investments
PIF and its portfolio companies, along with the Saudi private sector, will have access to a variety of investment opportunities in Egypt
Elon Musk accuses Twitter of fraud as court battle heats up
The court battle between Elon Musk and Twitter heats up as the billionaire Tesla boss accuses it of fraud, alleging...Musk has argued in the filing to a court that the number of users actually shown advertising on the platform is about 65 million lower than the firm's 238 million figure
Twitter in turn has accused Musk of fabricating a story to escape a merger agreement that he no longer found attractive
French business ties build on Saudi mega projects
Recent strategic Saudi-French partnership deal becomes crucial as Paris, with its expertise in key sectors, may help the Kingdom in...Recent strategic Saudi-French partnership deal becomes crucial as Paris, with its expertise in key sectors, may help the Kingdom in achieving the goals set under Vision 2030
Saudi Arabia is a new El Dorado for business with projects such as Neom, Al Ula, Read Sea and others, says Bertrand Besancenot, former French ambassador in Riyadh
Jordanian Senate examines draft investment law
Jordan Senate's Finance and Economic Committee hosted an expert in economic affairs at the National Democratic Institute (NDI), to look...Jordan Senate's Finance and Economic Committee examines the draft law regulating the investment environment in the country.
Investment-related laws should streamline business procedures, economic activities, spur investment and enhance competitiveness of the economy
FDIs in the UAE grew 116% from 2012 to 2021
According to a report by the UAE's Ministry of Economy, during the past decade from 2012 to 2021, FDIs in...FDI in the UAE witnessed significant growth, from $9.5billion in 2012 to $20.6 billion in 2021
The UAE was ranked 19th globally in the list of top 20 countries that attract FDIs
Dubai’s weeklong real estate transactions total $1.4bn
In Dubai, the real estate and properties transactions valued at $1.4 billion in total during the week ending 05 August...In Dubai, 255 plots were sold for $337 million, 1,510 apartments and villas for $759 million
During the week, the total number of transactions was 2,247
Saudi ministry signs smart transportation MoU with Alstom
Saudi Arabia’s Ministry of Investment has signed a memorandum of understanding with Alstom, which specializes in the sustainable and smart...The MoU aimed exploring investment opportunities in the transport sector and localize the manufacture and maintenance of trains.
The MoU also entails Alstom to establish its regional headquarters in the kingdom.
