The two leaders met in Addis Ababa and held talks on various aspects of bilateral relations, in addition to broader regional and international issues of mutual interest. The focus of the discussion was boosting areas of cooperation, including economic, investment, and development ties, across all sectors to increase prosperity of...

BEIJING, CHINA - Between January and July 2023, Chinese enterprises made non-financial direct investments totaling US$13.69 billion (RMB95.34 billion) in Belt and Road countries, demonstrating a surge of 23.2 percent compared to the previous year. This growth amounts to approximately US$13.69 billion (a year-on-year increase of 15.3 percent), constituting nearly...

Ras Al Khaimah, UAE - Chinese companies are seeking business opportunities in the Ras Al Khaimah Economic Zone (RAKEZ) as they plan to navigate the business landscape and strategic investment opportunities in the UAE. Post its successful business tour to major Chinese cities earlier this year, the economic zone hosted...

The Group posted revenues of $79 million in the second quarter.

Its net profit rose to US$4.14m as against US$3.96m last year.

The Kazakh minister said his country hopes to benefit from the UAE's experience in tourism and development sectors as he affirmed Kazakhstan's objective to add more facilities and resorts to its tourist attractions. He noted how Astana, the capital, has become a suitable destination for investment, especially in the tourism,...

The investment giant was hit by a drop in the share prices of major holdings.

Jeddah, Saudi Arabia -- The Saudi Geological Survey (SGS) and the Argentine Mining Geological Service (SEGEMAR) have signed a Memorandum of Understanding (MoU) to foster scientific and geological cooperation. The agreement was signed by SGS CEO Abdullah bin Muftar Al-Shamrani and SEGEMAR Executive Secretary Silvia Chavez, in the presence of...

Acquisition aims to diversify and expand into several sectors.

JV will manufacture high-quality copper products in UAE.

The talks between Sheikh Mohamed bin Zayed and King Abdullah focused on ways to ramp up cooperation across key strategic sectors, with a particular emphasis on economic partnerships, investment and development opportunities, and other key areas aimed at fostering sustainable development and prosperity in both countries.

Rise was driven by a jump in insurance revenue.

Amman, Jordan--Jordan’s economy has seen a 47.6 percent increase in investments in the first half of 2023, according to data released by the government. The kingdom's aggregate investments amounted to $844.8 million in the first six months of the year, up from $571 million over the same period in 2022....

Abu Dhabi, UAE--Abu Dhabi Future Energy Company (Masdar) and Citaglobal Berhad have signed a memorandum of understanding (MoU) for developing renewable energy projects across solar, battery energy storage system (BESS), wind and other renewable energy technologies. The MoU was signed in Malaysia by Abdulla Zayed, Masdar’s Head of Development and...

It fell to US$25.6 million in H1 of 2023, a 21.4 percent drop.

The new set of conditions brought in by the finance ministry look to shore up the integrity of the corporate tax system in order to boost the UAE's appeal as an investment haven.

Riyadh, Saudi Arabia - Saudi Arabia has positioned itself as a potential world-leading hub for biotech research, development, and pharmaceutical manufacturing following an investment of $3.9 billion in research and development (R&D) since 2021.  The country's strategic move aligns with its ambitious goals of economic diversification and addressing crucial healthcare...

He was referring to a new IEA report which suggests that universal clean cooking access could be reached worldwide by 2030 with annual investment of US$8 billion. "This is just a tiny fraction of what the worlds spends on energy each year. Tackling this injustice is affordable and achievable," he...

Doha, Qatar-- The Qatar Free Zones Authority has joined hands with Qatar Development Bank to support foreign investors and firms with a range of financial services. In this connection, the two leading institutions of the gas-rich country have signed an agreement to widen the areas of cooperation between both organizations...

“Our cooperation with Japan External Trade Organisation (JETRO) is part of these efforts as Japanese experience and progress reflect role of competent talent in the scientific and technological fields, and the effectiveness of its human capital development programmes,” he adds.

Baghdad, Iraq-- Jordan and Iraq have renewed pledge to strengthen economic cooperation in a meeting between the kingdom's Prime Minister Bisher Khasawneh, and his Iraqi counterpart, Muhammad Shia'a Sudani, on Monday. In a joint statement, both PMs reaffirmed the strategic nature of the Jordanian-Iraqi relationship and called for efforts to...

Saudi Arabia has reentered into this year's Kearney FDI Confidence Index, which ranks the markets likely to attract the most investment in the next three years.

Cairo, Egypt--Egypt and Indonesia will ramp up trade exchange as the two countries look to strengthen the overall ties. This came during the seventh round of political talks between Egypt and Indonesia which was held in Jakarta. Middle East News Agency (MENA) quoted the Egyptian Foreign Ministry as saying that...

Doha, Qatar-- Qatar has recorded a 70 percent growth in annual foreign direct investment (FDI) between 2019 and 2022. Just last year alone, the country received $29.78 billion in foreign investments, resulting in 13,972 jobs across sectors such as business services, technology, financial services and other industries. Investment Promotion Agency...

Fueling this ambition is an intricate web of travel companies, including tour operators, airlines, accommodation providers, cruise lines, and destination management companies. These firms are crucial cogs in the grand tourism machine, each contributing in unique ways towards marketing Saudi tourism and wooing tourists.

The spike in numbers comes after password crackdown.

DUBAI, UAE – Participants at a webinar strongly supported governments providing incentives or regulatory frameworks to encourage greater participation in green finance initiatives. The webinar was organized by Dubai Chamber of Commerce, one of the three chambers operating under Dubai Chambers. Held by the chamber’s Center for Responsible Business as...

Riyadh, Saudi Arabia - Saudi Arabia is the top-ranked country in the MENA region in terms of Venture Capital funding in the first half of 2023, with a deployment of $446M (SAR 1.67 billion). According to a report published by the venture data platform MAGNiTT, the Kingdom accounted for 42...

Sharjah, UAE--The Sharjah Chamber of Commerce and Industry (SCCI) and Costa Rica have discussed ways to advance bilateral economic relations. The chamber also held fruitful discussions to strengthen commercial and industrial cooperation and investment among the private sector organizations, institutions, and events within the framework of the friendly relations binding...

Qatar’s emir Sheikh Tamim bin Hamad Al-Thani praised Turkey's efforts to improve the country's financial situation and reduce inflation rates through a comprehensive monetary policy. Erdogan recognized Qatar's inherent economic potential and its balanced growth rates, saying it was one of the most robust economies in the region.

The city of Sharjah accounted for the largest (3,794) share of the transactions.

Dubai, UAE -- Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum has issued a law (No. 16 of 2023) to regulate urban planning in Dubai. The law seeks to create an integrated and effective urban planning system that promotes investment, sustainable development, prosperity, and an improved quality of life for...

Turkish President Recep Tayyip Erdogan has embarked on a three-state Gulf tour, beginning with Saudi Arabia, as he seeks to attract foreign investment in Turkey's ailing economy. The visit comes as Turkey battles currency collapse and soaring inflation. The Saudi-Turkish business forum was aimed at enhancing trade and investment relations.

Jeddah, Saudi Arabia--Looking to consolidate trade and investment ties, the Gulf Cooperation Council (GCC) and Japan announced their resumption of the Free Trade Agreement (FTA) negotiations. In this regard the two sides signed a joint statement on the sidelines of the meeting held here today between Fumio Kishida, Prime Minister...

ABU DHABI, UAE - The Central Bank of the UAE (CBUAE)’s Financial Stability Report for 2022 said the FTSE ADX General Index (FADGI.FGI) gained more than 20 percent in 2022. The Abu Dhabi Securities Exchange (ADX) trading value increased by 21.9 percent to AED 451 billion ($122.78bn). In its overview...

Revenue from operations was US$7.2 billion.

Manama, Bahrain: Entrepreneurship-themed reality television show ‘Beban’ announces the expansion of its third season to Saudi Arabia, as Hope Ventures, the investment arm of Hope Fund and producer of Beban, partners with Saudi-based GFH Capital. Saudi-based businesses can apply for season 3 online through hopefund.bh/beban by July 23. The expansion...

Ulaanbaatar, Mangolia--The UAE and Mongolia are looking to boost trade and investment cooperation with a focus on the agriculture sector. The two countries held discussions to ramp up collaboration during the visit of Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, to Mongolia. He is leading...

Thames Water, which supplies 15 million homes and businesses in London and elsewhere in southern England, has debts of almost £14 billion.

BAGHDAD, IRAQ -  Secretary General of the Gas Exporting Countries Forum (GECF) Mohammed Hamel on Friday stressed the importance of Iraq in the oil and gas sector. Iraqi Ministry of oil said in a statement, “Deputy Prime Minister for Energy Affairs and Oil Minister Hayyan Abdul Ghani, met GECF Secretary...

MENA is an important market for Verition.

"The UNCTAD report for 2022 reaffirms the remarkable and unprecedented achievements resulting from the cumulative balance of FDIs flows in the UAE. These outcomes serve as a testament to the insightful guidance and foresight of our wise leadership in fostering a robust and sustainable national economy," UAE Minister of Economy...

The wealth fund invests in Sagard alongside Bank of Montreal.

Vienna, Austria - Mohamed Aoun, Libyan Minister of Oil and Gas, has said that Libya is continuing its gas export operations to Europe through the Greenstream pipeline, local media reports said. He noted that an increase in gas exports is currently unfeasible, but could be considered in the future, after...

The country received the fourth largest number of greenfield projects (997), an 84 per cent increase, behind only India (1008), the UK (1230) and the US (2075), according to the UN Investment Report 2023. UAE's impressive numbers led to an increase of the projects in West Asia by two thirds.

KKR had invested in CoolIT through its Global Impact strategy.

DIFC provides a platform for AB to expand its wings.

The new ministry will bolster the UAE's business aims and investment policies, apart from promoting its infrastructure as a global platform to attract investments in various sectors. The ministry will propose the general investment policies of the country in coordination with the relevant authorities, in addition to preparing strategies, legislation,...

Investcorp buys majority stake in SEC Newgate for $100m.

While the global economy reels from high inflation and the war in Ukraine, the UAE looks poised for positive economic growth with the IMF and the World Bank projecting the country's economy to grow by 3.6 percent and 2.8 percent respectively. The economy will continue to benefit from tourism and...