Search Site

Trends banner

Luberef net profit falls 7% in Q1

A fall in by-products sales leads to profit dip.

SABIC net loss $322 million

The company's net profit was $66m in Q1 2024

PureHealth posts $137m Q1 net profit

The Group's revenue increased 8 percent YoY.

Borouge Q1 net profit $281 million

The total dividend paid to shareholders in 2024 $1.3bn.

Emirates expects first 777X delivery in H2 2026

Boeing had pushed back the first delivery to 2026 from 2025.

Hong Kong’s Belt and Road summit expands focus to Middle East

Hong Kong Chief Executive John Lee speaks to the media while attending the Belt and Road Summit in Hong Kong on August 31, 2022. AFP/File
  • The Belt and Road Initiative, China's ambitious plan to boost international trade and connectivity, encompasses both the Middle East and Southeast Asia
  • Hong Kong aims to leverage its strategic location and expertise to facilitate economic collaboration between these regions

Dubai, UAE – The annual Belt and Road Summit being held on September 13 and 14 in Hong Kong will feature a dedicated session focused on the Middle East, South China Morning Post reported on Thursday. 

The Belt and Road Initiative, China’s ambitious plan to boost international trade and connectivity, encompasses both the Middle East and Southeast Asia. Hong Kong aims to leverage its strategic location and expertise to facilitate economic collaboration between these regions.

Chief Executive John Lee Ka-chiu has already taken two trips this year to establish closer relationships with Middle Eastern and Southeast Asian countries. The goal is to create opportunities for Hong Kong businesses to enter the Middle East market and expand further into the ASEAN market.

A special Middle East forum will facilitate focused discussions on business and investment prospects in the region. More than 80 exhibitors, including businesses from Saudi Arabia and the United Arab Emirates, will showcase investment projects. 

High-level participants, including Abdulla bin Touq Al Marri from the UAE and Rania Al-Mashat from Egypt, will engage in a policy dialogue titled “Tapping into the Potential of the Middle East.”

The summit will feature discussions on market integration and connectivity among economies under the Belt and Road Initiative, with input from foreign ministers of Hungary and Malaysia.

This year’s summit boasts the strongest lineup of overseas representatives since its inception in 2016, largely attributed to the support of Beijing’s foreign affairs office in Hong Kong. Over 100 officials and business representatives from the Middle East are expected to attend, reflecting the growing interest in strengthening ties with Hong Kong.

As a further commitment to the Belt and Road Initiative, Hong Kong has appointed Nicholas Ho Lik-chi as its first commissioner for Belt and Road. Ho, who brings extensive experience in architecture and business, accompanied Chief Executive John Lee on his Middle East visit earlier this year.