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UK to ban foreign state ownership of British newspapers
London, United Kingdom--The UK announced Wednesday that it plans to bar overseas governments from owning British newspapers, a move that could scupper the contentious Abu Dhabi-led takeover of the Telegraph Media Group. Stephen Parkinson, a media minister, announced in the upper-chamber House of Lords that the Conservative government would amend proposed...
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SABIC to build petrochemical plant in China
The Saudi giant will develop the US$6.4bn plant in Fujian. -
Nakilat profit up 6.1%
The Qatari gas firm's net profit rose to US$213m in H1 of 2023. -
Dana Gas to hike its foreign ownership limit to 100 percent
Sharjah, UAE--With an aim to bolster the country's capital markets, the Sharjah-based company Dana Gas has revealed that it will raise its foreign ownership limit to 100 percent. The company said that it had obtained the approval of the regulatory authorities to raise the percentage of foreign ownership from 49... -
Abu Dhabi Islamic Bank raises its ownership in ADIB Egypt to over 52%
ADIB stated that it had acquired 9.6 million shares from National Investment Bank, in a disclosure to the Abu Dhabi Securities Exchange (ADX) on Thursday, -
What 2023 has in store for the GCC auto industry?
A number of other things will also influence the auto industry this year. The most obvious being the expectation of a looming recession and rise in inflation in 2023. Whilst it is understandable this will impact the GCC, the effects won’t be felt here as strongly as in other regions,... -
Reforms in tax and visa rules to drive UAE’s growth
The introduction of new laws regarding the ownership structure of mainland companies may boost the Gulf country's economy in 2023 as it is expected to attract more investors. -
Germany seizes Rosneft’s subsidiaries
Berlin took control of the German operations of Russian oil firm Rosneft to secure energy supplies which have been disrupted after Moscow invaded Ukraine. Rosneft's German subsidiaries, which account for about 12 percent of oil refining capacity in the country, were placed under trusteeship of the Federal Network Agency, the... -
Saudi PIF launches new company to digitize real estate sector
The Public Investment Fund has launched a new company aiming to digitize and develop the local real estate sector through a comprehensive digital platform. -
Goal vs strategy: Aim remains same, mode may modify
The most successful active owners keep a ‘Plan B’ ready. Many real-life structural and organizational conditions need to be in place to enable strategy optimization. A constructive board of directors, including vocal independent members and experts, is an indispensable ally of the active owner, he adds. -
Foreign ownership in Saudi stock market touches $70bn
Saudi Arabia's drive to lure more foreign investment into the kingdom's stock exchange paid off as foreign ownership touched $70 billion in 2021. -
Muscat raises foreign ownership in joint stock companies to 100%
The decision to raise the percentage of foreign investment in public companies is one of the most important steps to include the market in global emerging market indices, -
e& 2021 net profit $2.53 bn
The net profit was 3.2 percent higher than in 2020, the company said. -
Abu Dhabi passes new family business ownership law
The new law, issued by the ruler of Abu Dhabi, President Sheikh Khalifa bin Zayed Al Nahyan, aims to further enhance the family-owned business legislative ecosystem by adopting a more flexible and sustainable economic model, in line with best international governance practices. -
Abu Dhabi launches virtual license for non-resident investors
The virtual license covers 13 economic sectors on top of the strategic sectors targeted by the Abu Dhabi government to attract FDI. -
Evergrande’s crash crunch stumps investors and homeowners alike
The once-mighty Evergrande Group has long been the face of Chinese real estate, surfing a decades-long property boom to expand into more than 280 Chinese cities as it peddled home-ownership dreams. -
Investors may prefer this new Abu Dhabi license
New license for professionals to be issued by ADDED allows 100 foreign ownership of a business. ADDED also highlighted that opening a commercial branch without prejudice to the professional license or its features could be possible if the commercial activity is consistent with or complementary to the professional activity.