Investments approach $13bn as LEAP 2024 hits halfway stage
Riyadh, Saudi Arabia -- After announcing a staggering US$11.9 billion of investments on Monday, LEAP 2024, the world's most attended technology exhibition, unveiled another raft of investments totaling over US$888 million on Wednesday. The investments at LEAP 2024, which runs until March 7 at Riyadh Exhibition and Convention Centre in...
Qatar Development Bank investments in SMEs exceed $27 million
For the first time, direct investments supervised by Qatar Development Bank in SMEs has exceeded QR 100 million ($27 million). The total amount of direct and indirect investments in the bank’s portfolio has reached QR 220 million, supporting nearly 100 companies operating and providing highly skilled jobs and innovative services...President of Jordan Chambers praises reforms to boost business
President of the Jordan and Amman Chambers of Industry Fathi Jaghbir said Saturday that the National trade window to facilitate investments and improve the business environment is a key reform leap.A $40m fund set up in KSA
Al Moammar and Saudi Fransi Capital sets up a private fund.US to ban “all new investments” in Russia: Report
The United States, in coordination with the G7 and European Union, will ban "all" new investments in Russia on Wednesday in its latest round of sanctions, a source said. The joint measures, in response to Russia's invasion of Ukraine and alleged carrying out of atrocities, "will include a ban on...Saudi Arabia, UAE woo major chunk of FDI in GCC
As foreign investors seek to take advantage of investment opportunities in the region, KSA and UAE get billions of dollars injected into their economies.Riyadh entrepreneurship meet sees big-buck deals
The Global Entrepreneurship Congress is expected to see 40 agreements being signed between government agencies and major corporations.Hub71 startups secure $408m in investments since inception in 2019
Hub71, Abu Dhabi’s global tech ecosystem, said on Wednesday that its startup community secured AED 30 million ($8.1m) in 2021 through more than 20 corporate deals. Since its inception in 2019, the affiliated startups have bagged AED1.5 billion of investments and create about 1,000 jobs, while the aggregate valuation of...Two Ajman organizations pledge to work for women empowerment
The Ajman Business Women's Council and Umm Al-Moumineen Women's Association in Ajman will now work together to empower women. The two parties signed a pact regarding the same which also involves enhancing cooperation and implementing joint initiatives and projects related to women empowerment. Also, the pact aims to strengthen women's...Fintech opens center in Riyadh
It is a first-of-its-kind center in King Abdullah Financial District.Bahrain eyes cooperation with Germany in aviation, tourism
Bahrain's Minister said the private sector plays a key role in strengthening bilateral relations, as it boosts the volume of trade exchanges.DEWA electricity and water accounts rise by above 40 percent in 5 years
Dubai Electricity and Water Authority (DEWA) announced that the number of electricity accounts reached 1.06 million by the end of 2021 compared to 752,505 at the end of 2016, an increase of 41 percent. The number of water accounts reached 960,032 by the end of 2021 compared to 666,006 accounts...UAE sees climate action as catalyst of economic prosperity
UAE’s Minister of Industry and Advanced Technology, and UAE Special Envoy for Climate, Sultan Ahmed Al Jaber has said that the UAE views climate action as a key enabler of stability and economic prosperity.Saudi Arabia turns to PIF to transform its economy
The Saudi decision to transfer 4% of Saudi Aramco shares worth $80 billion to the kingdom’s Public Investment Fund is designed to shore up the sovereign wealth fund.Gourmet meals spawn $59bn Saudi food industry
More than 50,000 coffee shops and restaurants scattered all over the kingdom help Saudi economy relish growth on the back of rising demand in food industry.Jordan king meets economists, says national workshops should lead to economic roadmap
He noted that the roadmap should outline the way to guarantee sustainable comprehensive development and provide economic opportunities.Policy reforms help Saudi FDI inflow rise 326%
The Kingdom seeks to increase its net FDI inflow by 1,816 percent between 2021 and 2030, raising it to $103.5 billion annually by 2030, up from $5.4 billion in 2020.Will corporate tax hit UAE businesses, consumers?
The new tax -- to be implemented in the UAE from 1 June 2023 -- comes at a time when speculations are rife that other Gulf countries might also impose taxes on economic sectors.Emerging markets: A constructive 2022 in sight
Even in the face of the ongoing COVID-19 pandemic, policy changes, technology disruption and other challenges, positive structural forces remain apparent and are likely to foster fresh investment opportunities across emerging markets. Digitalization and decarbonization will also play key role in pushing up the markets, he adds.Production capacity of Al Maktoum Solar Park’s fifth phase up by 30MW
The production capacity of the first project of the fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park has increased from 300 megawatts to 330 megawatts, CEO of Dubai Electricity and Water Authority Saeed Mohammed Al Tayer said in a statement. The increased production results from using the...Oman and UK sign agreement to bolster trade relations, investments
Oman and the United Kingdom have agreed to bolster relations and high-value investment volume, Omani media reports said. To this effect, an agreement of partnership was signed in London between the Oman Investment Authority and the British Office for Investment. The agreement of partnership aims to invest in specific fields,...Aramco expands global downstream presence with key European investment
The Saudi Arabian oil company Aramco, the world’s largest integrated energy and chemicals company, is expanding its global downstream presence with investments in Poland’s refining, wholesale, and jet fuel marketing segments. The company has agreed to acquire equity stakes of 30 percent in a 210,000 barrels per day refinery in...Dubai Integrated Economic Zones Authority appoints new leadership team
Dubai Integrated Economic Zones (DIEZ) Authority has appointed a new leadership team to drive its free zones and central divisions. Amna Lootah was appointed as a Director General DAFZ to lead and implement strategic plans according to the approved structure, driven by its vision, mission, and values. Further, Lootah will...Dubai records $81 billion worth of real estate transactions in 2021
Dubai's real estate market recorded 84,772 transactions representing a value of AED300 billion ($81 billion) in 2021, according to the annual transaction report issued by the Dubai Land Department (DLD). The report revealed a 65 percent growth in the number of transactions and a 71 percent increase in value compared...GCC countries competing to lead the world in AI
Several countries in the region have already formed AI policies to support their national goals after this technology demonstrated its ability to serve in several areas.2021 recap: UAE startups lead MENA region
As the startup ecosystem takes off in the MENA region, TRENDS helps experts deliver valuable advice for entrepreneurs.Jordan eyes investments with ICT growth
Investment opportunities also exist in IT solutions for Jordan's financial sector and enterprise solutions and emerging applications. In addition, Jordan is experiencing an influx of investment to develop software-dependent sectors such as transportation, tourism, energy, and water, the Jordanian minister adds.UAE Railways Program: Country’s largest integrated transportation system launched
The UAE government on Sunday announced the launch of the UAE Railways Programme, the largest integrated system for transporting goods and passengers across the country. The program was announced in the presence of Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and Sheikh Mohamed...Morocco offers opportunities for Indian companies to settle and expand: Official
Morocco can attract big Indian investment due to its talented human resources and an impressive investment climate, said Ashwath Narayan, Minister of Technology of India's Karnataka State. Local media reports said the Indian minister was a part of the meeting involving Director-General of the Moroccan Agency for the Development of...Saudi PIF aims to invest $1.1 trillion by 2025
The Public Investment Fund, which seeks to lessen the Kingdom's reliance on oil as part of Vision 2030, eyes both local and international marketsWhere does Saudi Arabia’s PIF invest most?
The kingdom's sovereign wealth fund is critical to its economic goals as it channels returns from foreign investments into non-oil sectors in a bid to diversify the economy.Waha Capital reports AED 297mn profit
Net profit for the third quarter stood at AED 32 million.ECI and Indonesia Re sign agreement to boost exports and investments
Etihad Credit Insurance and Indonesia Re, the state-owned reinsurance agency of Indonesia, have signed an MoU to boost bilateral exports and investments through their trade credit insurance, reinsurance and guarantees. Under this agreement, the two agencies will work on easing trade and export between UAE and Indonesia, facilitating access of...UAE, Iraq agree to promote and protect investments
The agreement is part of the UAE’s endeavors to strengthen and activate means of economic and investment cooperation globally.Start-ups at in5 secure investments worth AED1.4 billion
More than 150 new companies joined in5 since 2020, bringing the grand total of start-ups supported by the incubator to 500. Of these, a quarter are led and managed by female entrepreneurs nearly twice as high as the regional average of women-owned SMEs, according to the World BankEgypt eyes $1bn investments as Africa Finance Corporation member
Egypt, the most populous nation in North Africa, has already seen some investments from the AFC.Why Golden Residency is not a privilege
Global economic transformation has pushed governments to implement various programs and reform investment rules to make them more flexible to attract foreign investment. Golden Residency is an outcome of such reforms.North African sun offers green hope but state role key
Blessed with year-round sunshine, North Africa has enormous potential for solar energy, but the huge investment and state subsidies required for large-scale projects are a challenge for cash-strapped governments. The IEA said North Africa increased its renewable energy production by 40 percent. But addiction to fossil fuels hasn't waned.Saudi-Chinese Business Council prepares a study to attract Chinese investments to Saudi Arabia
The Saudi-Chinese Business Council has showed the Chinese side Saudi Arabia’s plan to attract more Chinese investments into the country The council highlighted the Saudi “legislative reforms that are expected to increase investments between the two sides” The Saudi-Chinese Business Council in Riyadh on Tuesday, June 15,...