Search results

UK is ‘actively seeking’ Gulf investors, says trade minister

“Britain is back and Britain is open for business,” UK trade minister Douglas Alexander has told AGBI.  In an interview at the Future Investment Initiative summit taking place this week in Riyadh, Alexander said the Labour government’s budget on Wednesday would seek to “raise the level of investment in the UK economy”. “The kind of […]

UK invests $5bn in Oman in 12 months

The United Kingdom pumped more than $5 billion in foreign direct investment (FDI) into Oman in the 12 months from October 2023, maintaining its position as the biggest external investor in the country, official data shows. The UK’s cumulative stock of FDI in Oman was 13.7 billion Omani rials ($35.6 billion) by the end of […]

UK PM Starmer to visit Saudi Arabia and UAE

UK prime minister Sir Keir Starmer is to visit Saudi Arabia and the UAE next month, according to media reports. The trip in December will seek to secure new investment for the UK and strengthen its diplomatic relations in the region, the Financial Times reports, citing people familiar with his plans. It said Saudi Crown […]

Qatar to invest £1bn in UK climate tech

The Qatari and British governments have announced a spate of deals as the Gulf country’s emir arrived in the UK on a two-day state visit. Officials announced on Wednesday that Qatar will invest £1 billion ($1.27 billion) in climate technology in the UK, with British engineering firm Rolls-Royce a key beneficiary. The investment is expected […]

UK ministers visit Gulf in pursuit of free trade deal

Senior ministers from the UK have arrived in Oman as part of a whirlwind tour of the Gulf designed to accelerate trade talks under the new Labour government. The UK topped the list of countries investing into Oman in 2022, with OR9.6 billion ($25 billion), dwarfing the US in second spot on OR3.7 billion, according […]

UK faces tech talent drain to UAE as budget tax rises loom

A talent drain of thousands of tech entrepreneurs from the UK to the UAE could be on the way due to tax rises the new Labour government is expected to introduce on Wednesday in its first budget. More than four in five company founders and investors say they will consider relocating, according to a survey […]

Wary optimism for Cop deal to ‘set world in right direction’

Cop28 left behind an air of mixed emotions as it wrapped up on Wednesday, reflecting the complexity of the discussions and outcomes. A visibly jubilant Sultan Al Jaber strolled into the plenary, sharing a warm hug with UN climate chief Simon Stiell, basking in the applause as they marked a “historic” milestone: the first time […]