Saudi Arabia and Indonesia have signed several agreements and memorandums of understanding valued at approximately $27 billion. These deals, reported by the Saudi state news agency SPA, involve private sector institutions and focus on areas such as clean energy and petrochemicals. The agreements were finalized during the visit of Indonesian President Prabowo Subianto to Saudi...
Saudi Arabia’s ACWA Power Co. is set to build two large-scale solar plants in Turkey, marking a significant step in its plan to invest $5 billion in the country’s energy sector. The deal is expected to be finalized in the coming days. Turkish Energy Minister Alparslan Bayraktar announced that ACWA and Turkish officials are in...
Umm Al Quwain is experiencing a surge in investment from top property developers who are pouring billions into the construction of luxury hotels and residences. This small emirate aims to cater to those looking for a resort lifestyle, drawing attention for its beautiful beaches and potential for tourism growth. The emirate is witnessing a transformation...
UAE companies have announced a series of agreements and memorandums of understanding valued at over $50 billion with the Republic of Türkiye. These agreements, which were signed today, highlight the growing economic ties between the two nations. Credit: WAM The agreements cover various sectors and aim to enhance cooperation in areas such as trade, investment,...
The Abu Dhabi National Energy Company (TAQA) is set to make substantial investments in the data centre industry, with projections indicating that these investments will exceed AED 37 billion. This move aims to enhance Abu Dhabi’s growing data and artificial intelligence sectors. Credit: WAM TAQA’s Chief Executive Officer, Jasim Husain Thabet, emphasized the importance of...
Dubai-based Al Habtoor Group is planning to invest in Syria as the nation progresses towards reconstruction and economic recovery. The company’s founding chairman, Khalaf Ahmad Al Habtoor, announced his intention to visit Syria in the coming days to explore potential investment and cooperation opportunities. Al Habtoor will lead a high-level delegation of senior executives from...
Dubai International Chamber has inaugurated its 36th international representative office in Bangkok, Thailand. This new office is expected to play a crucial role in attracting businesses and investments from Thailand to Dubai, thereby strengthening trade ties between the two regions. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, emphasized that the Bangkok office...
The Ministry of Investment of the United Arab Emirates and the Perak State Development Corporation in Malaysia have officially signed a Memorandum of Understanding (MoU) aimed at enhancing cooperation in food security. This agreement also includes plans for the development of the Bagan Datuk International Sea-Hub Multipurpose Terminal in Perak State, which reflects both parties’...
Engie-backed National Central Cooling, commonly known as Tabreed, along with private equity firm CVC, is currently in exclusive discussions to acquire the district cooling business of Abu Dhabi-based Multiply Group. This deal is anticipated to value the unit at over $1 billion, as reported by two sources familiar with the negotiations. According to one of...
Turkey is actively seeking more investments from the United Arab Emirates (UAE) in the field of artificial intelligence (AI) as the two countries strengthen their bilateral ties. Burak Daglioglu, the president of the Investment Office of the Presidency of Turkey, stated, “The UAE is positioning [itself] as a hub for AI investments and we see...