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...

RAS AL KHAIMAH,  UAE - Ras Al Khaimah Economic Zone (RAKEZ) has announced the addition of over 1,500 new companies in the second quarter of 2023. This robust growth represents a remarkable 132 percent increase compared to the same period in 2022, further cementing RAKEZ’s role as an accelerator for...

Learners across the country excel in business skills, communication, leadership, management, and human resources skills, Coursera's latest Global Skills Report points out.

Geneva, Switzerland - United Nations Conference on Trade and Development (UNCTAD) said the COVID-19 pandemic, Ukraine crisis and the climate crises are having a devastating effect on progress towards the SDGs. The UNCTAD released the fifth edition of its annual SDG Pulse, a global reference for tracking progress towards achieving...

Tehran, Iran-- Qatar has renewed its willingness to boost economic cooperation with Iran, ramping up investment in order to strengthen the overall relations between the two countries. In a phone call on Tuesday with the Iranian President Ebrahim Raisi, the Emir of Qatar Sheikh Tamim bin Hamad Al Thani voiced...

The data showed most of the faithful came from abroad. The Kingdom's officials had predicted more than 2.5 million pilgrims, making it the largest to date. But officials figures carried by the state-run Al Ekhbariya TV showed that the total number of pilgrims for this hajj season as 1.84 million.

Doha, Qatar--The increasing availability of government sukuk and Islamic liquidity management tools by the Qatar Central Bank supports liquidity management and investment options for Islamic banks, according to a report from Fitch Ratings. In a report issued today, it indicated that its review of its future expectations for three Qatari...

Japan Investment Corporation hopes to finalize the deal by December.

This trend has been particularly emphasized with Blackrock, one of the world's most influential fund managers, applying for what could be the US's first Bitcoin spot exchange traded fund (ETF). Approval of this ETF could mark a significant moment for crypto, potentially sparking a surge in investment from institutional investors,...

Doha, Qatar - Qatar Chamber and Tajikistan Chamber of Commerce and Industry signed Sunday an agreement to establish a Joint Business Council (JBC) between the two chambers. The Joint Business Council aims to facilitate communication between the two parties to increase trade and economic cooperation between the two countries. It...

Indian Prime Minister Narendra Modi met Egypt's President Abdel Fattah al-Sisi in Cairo on a rare visit during which both sides pledged to deepen their strategic partnership. They agreed to boost investment by India, the world's most populous nation, in Egypt and which is now in the grips of an...

BAGHDAD, IRAQ - The Finance and Business Center in Iraq is set to become a hub for trading and selling both governmental and private securities, according to the Prime Minister's financial advisor Mudhar Muhammad Salih. In an interview with the Iraqi News Agency (INA), Salih emphasized the center's role in...

New York, United States - Metatime, a blockchain technology company, has so far raised $25 million through crowdfunding, pre-sales, and angel investments, with investors from Turkey, Denmark, and Germany. The investors included Yildiz Tekno Venture Capital Investment Trust, Yildiz Technical University Technopark, and telecommunications and financial institutions, who participated in...

It is expected to propel Qatar as an investment hub.

The "agreement in principle" would see the semiconductor firm build the facility in southern city Kiryat Gat that would open by 2027 and operate at least until 2035, Israel's finance ministry said. As part of the deal, Intel's taxes to Israel would rise from five to 7.5%, the finance ministry...

Results were due to a fall in insurance services expenses.

Muscat, Oman - India and Oman trade in 2022 reached $9.98 billion reflecting the deepening economic and commercial ties between the two nations.  The nearly 90 percent growth in trade compared to the previous year highlights the strong demand for Indian goods and services in Oman, coupled with growing investment...

Ras Al Khaimah, UAE-- Looking to boost economic cooperation and convince businesses across India to invest in the free zone, Ras Al Khaimah Economic Zone (RAKEZ) toured various cities in the country, offering an overview of the potential of expanding their operation in the Middle East through Ras Al Khaimah....

Sheikh Tamim bin Hamad Al-Thani was welcomed by Prime Minister Mohamed Shia al-Sudani at the airport, images broadcast on Iraqi media showed. Relations between the two countries saw a long period of tension under ousted dictator Saddam Hussein, before easing up over the past decade.

BERLIN, GERMANY - German industrial giant Siemens said on Thursday it would build a new high-tech factory in Singapore and expand another in China as part of a two-billion-euro ($2.1 billion) investment plan to build up its manufacturing capacity. Siemens said it would invest around 200 million euros in the Singapore...

JV to develop accommodation project in Abu Dhabi island.

Dubai, UAE-- The UAE and South Korea are aiming to foster cooperation to promote entrepreneurship and support growth of small and medium enterprises in the two countries' markets. In this connection, Abdullah bin Touq Al Marri, Minister of Economy, held a bilateral meeting with Lee Young, Minister of SMEs and...

Dubai, UAE--The UAE and Russia have held the second round of negotiations on the double taxation agreement on income and capital. The talks follow the ministry’s efforts to further strengthen cooperation frameworks for tax matters, provide full protection to taxpayers from double taxation and avoid the obstruction of the free...

GENEVA, SWITZERLAND - The world's nuclear powers, and China in particular, increased investment in their arsenals for a third consecutive year in 2022 amid swelling geopolitical tensions, two reports showed Monday. The world's nine nuclear-armed states jointly spent $82.9 billion on their arsenals last year, with the United States accounting for...

Tokyo, Japan-- The UAE and Japan are looking to bolster economic, trade, industrial and investment ties as part of a broader strategic partnership between the two countries. In this connection, the UAE's Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan met with Yoshimasa Hayashi, Minister for Foreign Affairs of Japan,...

Sharjah, UAE--The Hamriyah Free Zone Authority (HFZA) has signed a deal with Infinite Mining and Energy to set up a multifunctional oil refinery with a daily production capacity of 10,000 barrels and an annual refining capability of up to 3.6 million barrels. In this connection, Saud Salim Al Mazrouei, director...

"The Kingdom will invest more than $800 billion during the next 10 years", added the minister, noting that tourists may acquire Saudi tourist visas electronically. He underlined the nation's commitment to bolstering its travel and tourism industry while attending a session of the 10th Arab-China Business Conference.

Abu Dhabi, UAE-- With the signing of the Comprehensive Economic Partnership Agreement (CEPA), the UAE exporters are expected to benefit more as they will gain more access to major sectors in Turkey like construction, metals, and their products, polymers, and other manufactured products. According to Abdulla bin Touq Al Marri,...

Investment agreements between the two sides covered diverse sectors such as technology, renewables, agriculture, real estate, minerals, supply chains, tourism, and healthcare.

ISTANBUL, TURKEY - UAE President Sheikh Mohamed bin Zayed Al Nahyan  arrived here on Saturday for a working visit and met with Turkish President Recep Tayyip Erdogan. The two leaders reviewed the growing bilateral ties between the UAE and Turkey and explored opportunities for further collaboration. The meeting between Sheikh...

Phnom Penh, Cambodia-- The UAE and Cambodia have agreed to boost economic ties, expanding the bilateral non-oil trade from the current US$ 407 million to more than US$1 billion within five years. The resolve to deepen trade ties was expressed during the visit of Dr. Thani bin Ahmed Al Zeyoudi,...

Dubai, UAE -- High net-worth individuals (HNWIs) in the Middle East are increasingly looking for alternative investments, such as private equity and real estate, as they seek to diversify their portfolios, the 2023 EY Global Wealth Research Report said while analyzing key trends in the Middle East wealth management market....

The firm led the funding in River, which manufactures electric two-wheelers.