Tag Archives: investment

UAE Minister of State Sultan Al-Jaber said the world “need to accept” that global energy transition will take time.  Al-Jaber, who is also the chief executive officer of the Abu Dhabi National Oil Company (ADNOC) Group, said the world is entering an oil supply crunch.  He added 80 percent of …

TikTok’s business arm is launching an academy for small and medium-sized businesses (SMBs) to develop their understanding of the platform. It is the first-of-its-kind virtual educational platform from TikTok in the company’s Middle East, North Africa and Turkey (MENAT) region, which has been created specifically with SMBs and boutique agencies …

Ford Motor Co said on Tuesday that the next version of its Transit van for the European market will go into production in Turkey in 2023 and include fully electric and hybrid variants along with the combustion-engined version. The vans will be built by Ford Otosan, the No. 2 U.S. …

When Saudi Arabia, the world’s top oil exporter and a leading U.S. ally, took over the G20 presidency in December 2019, hopes in the kingdom were high. A global summit would help rehabilitate the country on the international stage and turn the world’s attentions to key reforms launched by de …

Russian Foreign Minister Sergei Lavrov arrived in Damascus on Monday for talks with President Bashar al-Assad and Syria’s foreign minister, the RIA news agency reported. Following his meeting with the Syrian president Lavrov said that Syria needed international help to rebuild its economy. For his part Syrian President Bashar al Assad …

Saudi Arabia’s sovereign wealth fund has bought minority stakes in major American companies including Boeing (BA.N), Facebook (FB.O) and Citigroup (C.N), according to a U.S. regulatory filing. The $300 billion Public Investment Fund (PIF) has been buying minority stakes in companies across the world, taking advantage of market weakness in …

After Shavkat Mirziyoyev came to the post of the President the number of beautiful and landscaped areas in Uzbekistan are increasing as a result of measures aimed at radically renewing the image of cities and villages, improving social conditions. I personally witnessed these creativities during my trip to this country …

The presidential press service reports that Shavkat Mirziyoyev will pay an official visit to Belarus with the invitation of Alexander Lukashenko on July 31 – August 1. To discuss the current state of bilateral cooperation and prospects for development of relations in political, trade, economic, investment, cultural, humanitarian and other …

The Ras Al Khaimah Chamber of Commerce called on investors and business leaders from Costa Rica to benefit from investment and trade opportunities available in the emirate. The invitation is part of the emirate’s efforts to organise the largest international exhibition for small and medium-sized enterprises, SME, which will be …

Hamad Obaid Al Zaabi, UAE Ambassador to Pakistan, met with Syed Murad Ali Shah, Chief Minister of Sindh, and Imran Ismail, Governor of Sindh, in Karachi on Friday. They discussed the investment, development and humanitarian projects being carried out by the UAE in the Sindh region of Pakistan. During a …

Signalling growing investor confidence in Dubai, new business licenses issued in the emirate during the first four months of 2019 increased 35 percent compared to the same period of 2018, according to a report issued by the Department of Economic Development (DED). DED issued 9,489 new licences during January-April 2019 …

Already well-established as one of the world’s top centres for oil bunkering, the Port of Fujairah and the adjacent Fujairah Oil Industry Zone, FOIZ, continue to attract further business and investment, recent announcements show. Last month, Fujairah-based Brooge Petroleum and Gas Investment Company and Dubai-based Sahara Energy Resources announced plans …

Foreign Affairs, Regional Integration and International Trade Minister of Mauritius, Seetanah Lutchmeenaraidoo, has hailed the outcome of the UAE – Mauritius Business Forum which was held in the capital Port Louis on Thursday. The minister made the statements while receiving Dr. Rashid Al-Afari, Charge d’Affaires at the UAE Embassy in …

Want double-digit returns on investments in Dubai real estate? Then you should be looking at the warehouses and other industrial assets the city has to offer. And its workers’ accommodation too. “Returns are still in double-digits on these type of assets while those for a simple residential building are much …

PIF, the Saudi Arabian sovereign wealth fund that Tesla Inc CEO Elon Musk has said could help him fund a $72 billion (Dh264 billion) deal to take his electric car maker private, is in talks to invest in aspiring Tesla rival Lucid Motors Inc, people familiar with the matter said …

Qatar pledged $15 billion (Dh55.09 billion) of investment in Turkey that will be channeled into Turkish financial markets and banks, a government source told Reuters yesterday. The investment package was announced after Qatar’s Emir Tamim Bin Hamad Al Thani met President Tayyip Erdogan in Ankara, as Turkey grapples with a …

UAE-based billionaire retail tycoon Yusuff Ali M.A. is looking to pump further investments into the Philippines and create at least 2,000 more jobs for Filipinos. The Indian entrepreneur who operates 150 LuLu hypermarkets in the UAE and across the Gulf Cooperation Council (GCC) region and Egypt intends to make a …

“We want our money back,” investors in a Dubai Investment Park (DIP) realty project that never took off had told XPRESS in October 2012, with the inordinate delay since its 2005 launch draining them financially and emotionally. Today, 13 years on, they are still making the same appeal — but …

Saeed Mohammad Al Tayer, MD and CEO of Dubai Electricity and Water Authority (Dewa), welcomed a high-level delegation from German company Voith, which specialises in systems, products and services serving five important markets: energy, oil and gas, paper, raw materials and transport and automotive. The visit aimed to enhance cooperation …

Gulf Capital plans to invest over $500 million (Dh1.8 billion) over the next two years in some key markets as part of its investment strategy, its chief executive officer told Gulf News in an interview. The Abu Dhabi based firm plans to invest $350 million in private equity and $150 …

Bahrain is to issue a ten-year renewable residency permit on a self-sponsorship basis to foreign investors. Crown Prince Salman Bin Hamad Al Khalifa on Tuesday evening instructed the Minister of Interior to prepare a draft edict to create the self-sponsorship residency permit for foreign investors. The new system is designed …

To further boost the UAE’s position as a primary destination for international investors and top talent from around the world, the Cabinet on Sunday has adopted a new system of entry visas for investors and professionals — providing them with a long-term visa for up to 10 years. Reaction: UAE’s …

For over 21 years, the Jumeirah Group has operated luxury hotels from Dubai to London. Now, for the first time in the company’s history, market pressures have forced Jumeirah to look beyond its traditional five-star resorts to something more youthful, and more dynamic. Zabeel House, which was first announced in …

The Department of Economic Development (DED) in Dubai has signed a memorandum of understanding (MoU) with the Dubai Free Zones (DFZ) Council to facilitate business operations for free zone based companies. The collaboration is driven by the shared commitment of the two entities to reinforce Dubai as the number one …

Government of Dubai has called on government departments to work on a comprehensive reform package to boost business confidence and economic growth in the Emirate. Stimulus plans include proposals to allocate 20 per cent of government tenders to small and medium-sized businesses, developing low-cost family tourism systems through a timeshare …

Opec is on the verge of “mission accomplished” in its quest to clear the global oil glut that caused the worst industry downturn in a generation, the International Energy Agency said. Less than 10 per cent of the surplus in oil inventories remains, as Opec and its partners have cut …

A new Innovation Hub powered by Google has opened at UAE University (UAEU) in Al Ain as part of a collaborative effort involving Abu Dhabi’s Department of Education and Knowledge, Bayt Mitwahid Association, Google and the university. The hub is split into several different sections, including the maker area, where …

Saudi Arabia announced plans Thursday to spend billions on building new venues and flying in Western acts, in a total overhaul of its entertainment sector that would been unthinkable not long ago. Long known for its ultra-conservative mores, the kingdom has embarked on a wide-ranging programme of social and economic …

Fujairah Oil Industry Zone (FOIZ) has become the first commercial player in the energy sector to implement blockchain network to improve transparency, efficiency and manage risk in a secure environment. S&P Global Platts, the independent provider of information and benchmark prices for the commodities and energy markets, is deploying the …

Mubadala Aerospace is looking to invest in manufacturing in the US in the next one to five years, according to the director of the aerospace business unit in Mubadala Investment Company. There are many important processes as well as materials that go into aerospace manufacturing. For example, you can go …

The fifth edition of the emirate’s highly-anticipated annual music event, the Sharjah World Music Festival (SWMF 2018), begins on Saturday night, with an opening act by one of the finest Flamenco guitarists in the world, Vicente Amigo, at the Flag Island Amphitheatre. This will be accompanied by a free outdoor …

The UAE is taking steady strides towards achieving its goal of becoming the global hub for a green economy, according to the State of Green Economy Report 2018 launched on Thursday that details the UAE’s success stories for others to replicate or scale up. The State of Green Economy Report …

The plans and strategies of Dubai Future Foundation (DFF) for 2018 have been approved by Shaikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Board of Trustees of the foundation. The DFF’s 2018 agenda was approved at a meeting of the foundation’s executive …

Danish conglomerate AP Moller-Maersk said on Friday it will invest 21 billion kroner ($3.4 billion, Dh12 billion) together with British-Dutch oil producer Shell, among others, to redevelop and extend the production life cycle of Denmark’s largest gasfield in the North Sea. Maersk, whose oil company is being taken over by …

A long-standing business partner of the UAE, Kuwait has over the past 18 months made renewed efforts to establish its companies in the emirates. The Kuwait Business Council (KuwaitBC), a private sector initiative that is run as a non-governmental organisation (NGO), was set up in May 2016 to assist Kuwaiti …

His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, has unveiled a new Cabinet tasked with making the UAE the world’s best prepared for artificial intelligence and other advanced technologies. “The new government will catapult the UAE into its prosperous …

A turning point in the oil market is on the horizon amid a sharp drop in investments and a lack of fresh conventional discoveries, Saudi Aramco’s chief executive told CNBC on Monday. “A lack of investment is definitely not helping, so if that continues over the next couple of years …