UAE aims to increase economy to more than $800bn by 2030
This goal requires adopting new economic diversification strategies, in addition to supporting new economic sectors, said Minister of Economy Abdullah...The UAE aims to increase the size of its economy from AED1.4 trillion ($ billion) to AED3 trillion ($816.88 billion) by 2030
In 2020, the UAE attracted FDIs worth some $20 billion, which was an increase of 17 percent compared to the previous year
PIF opens 3 overseas firms
The new companies’ offices are in London, New York, and Hong Kong.The PIF is an active investor in several industries and businesses, including in the UK, Europe, the US, Asia, and South America
The new subsidiary companies’ offices are expected to enable the PIF to continue to work with partners across these regions
IMF, World Bank warn of global impacts as Russia invades Ukraine
The World Bank and IMF warned on Thursday that Russia's invasion of Ukraine would have repercussions for the global economic...IMF Managing Director Kristalina Georgieva said the conflict ‘adds significant economic risk for the region & the world’
World Bank President David Malpass warned that ‘the devastating developments’ would have ‘far-reaching economic and social impacts’
Art Dubai 2022 embraces digital art, NFTs
Art Dubai 2022, the art fair's largest edition and one of the few major international art events to take place,...This year's event is unique as it will demonstrate that Dubai has become a big part of the discussion about modern art.
Dubai is a global crypto hub with a diverse group of collectors and entrepreneurs.
Borouge opens fifth polypropylene unit
PP5 will increase Borouge’s PP annual production capacity by 25 percent.Its total polymer capacity of polyolefins will also be increased by 11 percent from 4.5 to 5 million tons per year.
Raw materials produced at PP5 would be enough for making water supply pipes for 6,500 Burj Khalifa buildings.
Thailand’s only Fortune Global 500 company opens office in Abu Dhabi
The new trading office of PTT, Thailand’s largest corporation and the only Thai company listed in Fortune Global 500, was...PTT becomes part of the growing energy trading community-based at ADGM, alongside ADNOC Global Trading and ADNOC Trading.
PTT is a long-standing and partner and customer of ADNOC and one of the founding partners in the IFAD Exchange to trade to Murban Futures.
New South Wales displays agri-food innovations at Expo 2020
The Australian state of New South Wales (NSW) displayed its agri-food innovation and manufacturing capabilities to strengthen further its ties...New South Wales highlighted its prominent companies in agtech, food & beverages besides prime investment opportunities.
The event saw six NSW companies pitched their businesses to the buyers, investors, distributors and retailers present in the audience.
Aramco closes deal with consortium
The Global Investor Consortium acquires 49pc stake in Aramco Gas Pipelines.This lease and leaseback deal between the two companies was previously announced on December 6, 2021.
Global Investor Consortium is an international investor consortium led by affiliates of BlackRock and Hassana.
With Spanish funds, Lebanon plans to revive railway out of service since ’70s
Lebanon's transport minister has said that Spain will finance a plan to revive the railway network that has been out...Lebanon had a railway network since the end of the 19th century which connected Beirut to the Syrian capital Damascus.
It was built during Ottoman rule and inaugurated in 1895, operating until the devastating civil war begun 47 years ago.
Conference in Dubai to bring together Emirati investors and Israeli companies
A conference that brings together Emirati investors and Israeli public companies listed on the Tel Aviv Stock Exchange (TASE) will...The conference is collaboration between the UAE Embassy in Israel, Tel Aviv Stock Exchange and the Dubai International Chamber.
Some of the TASE-listed companies that will participate include Altshuler Shaham, Amos Luzon Dev & Energy, Beeio Honey, Bezeq, Delek Drilling, Energix, Enlight Enregy, Epitomee.
DAE net profit up 36.2%
Revenues grew by 9 percent to $1.42bn from $1.31bn in 2023.
Borouge 2024 net profit $1.24bn
The company said it will maintain a $1.3bn dividend for 2025.
ADQ, Orion to establish JV
The partners commit to deploying $1.2bn in the next four years.
Alpha Dhabi acquires interest in NCTH
The deal increases NCTH's portfolio to 8 hotels with 1,500 keys.
Meraas awards construction contract
The $272m contract has been awarded for Bluewaters Bay.
