Development The Greatest Show on Earth: US election results Wednesday November 6 | 8:30am – 10:30am | Capital Club, DIFC, Dubai Register to attend in person: RSVP@capitalclubdubai.com As the key swing states announce their results, join our Editor-at-Large, Frank Kane, and his guest panellists for expert analysis of the most hotly-contested – and consequential – US Presidential Election in years. Will it be Donald Trump […] November 4, 2024 Sponsored by
Opinion Logistics A new dawn for logistics as the GCC and India draw closer For both parties to benefit, investment in transport infrastructure is needed October 30, 2024
Development Saudi Arabia to invest $41bn in Africa over next decade Saudi Arabia is providing at least $41 billion in funding for low-income sub-Saharan countries in Africa, the government announced on Monday. Finance minister Mohammed bin Abdullah Al-Jadaan revealed a $1 billion development initiative for Africa, $5 billion for startups from the Saudi Development Fund over the next ten years, $10 billion in financing from the […] October 28, 2024
Opinion Trade UAE believes trade with Africa is worth the risk Investments by Emirati companies are being encouraged and supported by the government October 22, 2024
Development First multi-million loan by Saudi fund for projects in Serbia The Saudi Fund for Development signed three development loan agreements this week with Serbia worth $205 million to support agriculture, education and energy. The SFD, Saudi Arabia’s official overseas development fund, will give Serbia $75 million for an irrigation project, $65 million for the Bio4 Campus research institute in Belgrade and $65 million for a […] October 18, 2024
Development Islamic Development Bank approves $3bn for projects The Islamic Development Bank has approved financing worth more than $3 billion for 20 social and economic development projects in 17 of its member states. The money will be used to boost social and economic development in critical sectors such as transportation, energy, agriculture, water resources, food security, health and social development. In an announcement, […] October 16, 2024
Construction Egypt’s Forbes Tower has designs on Burj Khalifa records Egypt’s 50-storey Forbes Tower is a self-consciously Dubai-esque development. It will have the world’s tallest central atrium, the fastest elevator, and is due to be the first net-zero tower in the Middle East and North Africa. Magnom Properties, the Egyptian-Saudi-owned developer, plans to spend $1 billion building the 240m tall tower, and has embraced comparisons […] October 11, 2024
Agriculture UAE pledges $30m for Ghana’s biodiversity push The UAE and Ghana have signed a $30 million partnership for nature-based community development and climate initiatives. The agreement covers six areas of investment, including biodiversity corridors, which allow animals to travel from one patch of native forest to another, reforestation and agroecology – sustainable farming that works with nature. The partnership aims to deliver […] September 30, 2024
Economy As GCC calls for ceasefire, UAE gives Lebanon $100m The UAE directed an urgent $100 million aid package to Lebanon on Monday, as fighting between Israel and Hezbollah continued. President Sheikh Mohamed bin Zayed al Nahyan said: “This initiative is part of the UAE’s continuous efforts to support Lebanon through its current challenges, underscoring the nation’s unwavering commitment to assisting the Lebanese people.” The […] September 30, 2024
Opinion Finance Republicans in the UAE rally to the Trump cause A panel at the Capital Club, Dubai, gave their views on the changing landscape ahead of polling day September 20, 2024
Analysis Giga-projects Giga-project slowdown to hit Riyadh population growth Riyadh’s population is unlikely to meet a growth target by 2030, when it is due to host the World Expo, as giga-projects are scaled back. Crown Prince Mohammed bin Salman set an ambitious goal for the population to grow to between 15 and 20 million in 2021. However it is now absent from the website […] July 29, 2024
Development Morocco to get $657m from African Development Bank Four financing agreements worth MAD6.45 billion ($657 million) and covering areas from forestation to a new university have been signed between Morocco and the African Development Bank. The Guercif-Nador highway project, which will connect the new Nador West Med port to Morocco’s existing road network, will receive MAD2.14 billion in AfDB funding. The highway is […] July 22, 2024
Video length: 03:25 VIDEO Development Dubai Humanitarian and the Mena aid challenge The Mena region requires nearly $14 billion in humanitarian aid, according to the UN. Dubai Humanitarian, formerly known as International Humanitarian City, plays a vital role in bringing together aid organisations and mobilising both funds and relief to countries affected by conflicts and climate emergencies. Dubai Humanitarian sends 1,300 dispatches of aid worth up to […] July 10, 2024
Real Estate Dar Global to launch luxury Trump Tower in Jeddah London-listed real estate developer Dar Global and The Trump Organization have announced a new luxury real estate project in Saudi Arabia. The company partnered with the Trump Organisation in 2022 to use the former president’s name for its $4 billion master development in Muscat, a joint venture with Oman Tourism Development Company. Ziad El Chaar, […] July 1, 2024
Economy World Bank’s $700m push for Egypt’s private sector The World Bank will provide $700 million in funding to Egypt to address short-term economic challenges. The development policy financing (DPF) will aid in supporting the Egyptian government’s focus towards more private sector participation. The financing will further advance structural reforms to level the playing field to support private sector growth, build macroeconomic and fiscal […] June 25, 2024
Development US allocates $130m development funding to Egypt The US has allocated funding of $130 million for a range of developmental projects in Egypt, it was announced on Thursday. In a press release published by the US Embassy in Cairo, ambassador Herro Mustafa Garg said that the money would go towards “advancing Egyptian efforts to achieve a brighter, healthier, and more prosperous future […] June 14, 2024
Development Saudi Arabia seeks private investment for 113 water projects The Saudi government-backed National Water Company (NWC) is seeking private investment in projects to upgrade 113 existing water and sewage treatment plants this year. These plants will have a total capacity of 2.4 million cubic metres per day. No estimate was given on the expected private sector investment. NewsletterGet the Best of AGBI delivered straight […] June 11, 2024
Construction Egypt and UAE still in talks over $35bn Ras El Hekma deal Egypt and the UAE are holding talks on issuing contracts for the $35 billion Ras El Hekma development project, according to a news report. “It’s still extremely premature. We are now in the stage of finalising contracts,” Nader El Biblawi, chairman of the Egyptian Travel Agents Association, told Reuters. While no details were given on […] May 29, 2024
Analysis Real Estate UAE offices in demand – in contrast to the West Offices in the UAE are outperforming Western equivalents, with a steady influx of foreign businesses and local developers’ preference for residential projects. “The need for more Grade A office space is becoming increasingly urgent,” Behnam Bargh, managing director at real estate agency CRC, told AGBI. “Addressing this issue will be crucial for maintaining the country’s […] May 24, 2024
Analysis Tourism Why ‘over-tourism’ offers an opportunity for the GCC The GCC region and its North African neighbour Egypt can reap the rewards of over-tourism across the globe, according to industry experts, with affordability playing a key role in fuelling the sector’s growth. The number of hotel rooms in the six countries of the GCC – Bahrain, Kuwait, Qatar, Oman, Saudi Arabia and the UAE […] May 6, 2024
Development UAE commits $50m to development fund The UAE has committed $50 million to the second phase of the Lives and Livelihoods Fund 2.0 (LLF 2.0), a multi-donor initiative targeting sustainable economic development in the Islamic Development Bank’s (ISDB) 57 member countries. The funding will be deployed by LLF 2.0 to support critical projects in health and infectious diseases, agriculture, and social infrastructure in low […] April 24, 2024
Tech Abu Dhabi launches tech fund for developing countries Abu Dhabi has launched a $200 million tech investment platform that it hopes will help developing countries catch up with wealthier nations. The emirate’s Advanced Technology Research Council (ATRC), which unveiled the initiative at the World Government Summit in Dubai, will fund “resource and research costs” in six sectors, transport, healthcare, aerospace and space, food […] February 13, 2024
