Manufacturing EGA reveals sharp drop in profits Profits at Emirates Global Aluminium (EGA) have fallen by nearly a quarter as a result of the suspension of operations in Guinea and introduction of corporation tax in the UAE. In October 2023, the Guinea Alumina Corporation, a subsidiary of EGA, was hit by the Guinean government’s decision to halt exports of bauxite, a raw […] March 13, 2025
Manufacturing Hyundai to start building electric cars in Turkey next year Hyundai is the latest in a string of Asian car companies looking to build electric vehicles in Turkey, taking advantage of its proximity to the European Union and Russia. However, components made in Turkey will almost certainly be used less than they are in the manufacture of petrol cars, analysts have said. South Korea’s Hyundai […] March 11, 2025
Aviation Airbus weighs production of military aircraft parts in UAE European planemaker Airbus is exploring the possibility of manufacturing components and setting up a maintenance facility for the A400M, a military transport aircraft, in the UAE. The plan includes integrating local entities – including EPI, part of defence company Edge Group, and Strata, a subsidiary of Abu Dhabi investment vehicle Mubadala – into the A400M’s global aerospace […] March 5, 2025
Manufacturing China’s BYD makes mark on UAE supercar market BYD Group, China’s largest electric vehicle maker, is taking on luxury rivals in the UAE with its premium and supercar brands, marking a sharp shift from its mass market, budget-friendly origins. Other Chinese automakers are also making inroads into the UAE’s high-end segment, long dominated by European brands and typically priced above AED200,000 ($55,000) Their […] March 4, 2025
Industry Vietnamese EV maker in talks over $1bn investment from Qatari fund The Vietnamese conglomerate Vingroup said on Tuesday it had signed a memorandum of understanding to explore a potential investment of at least $1 billion in its electric vehicle maker, VinFast, by the private equity fund JTA Investment Qatar. Vingroup said the possible partnership could also extend to Vingroup’s hospitality business, Vinpearl. “Under the MoU, the […] March 4, 2025
Manufacturing PIF weighs investment in Boeing’s Italian parts maker Saudi Arabia’s Public Investment Fund (PIF) is holding talks about investing in the aerostructures unit of Italian defence company Leonardo, a news report said. The talks are at an early stage with no agreement guaranteed, Bloomberg reported. The investment could lead to the Italian company building a civil aviation manufacturing plant in Saudi Arabia, the […] February 27, 2025
Manufacturing EV maker Lucid’s CEO quits as total losses hit $13bn Peter Rawlinson, the CEO of the Saudi Arabia-backed electric car maker Lucid Motors, has resigned after the Californian company’s total accumulated losses rose to almost $13 billion. Earlier this week, Lucid announced that its losses in 2024 were up almost 11 percent to $3.1 billion, from $2.8 billion the year before. Shares in Lucid, which […] February 26, 2025
Manufacturing Turkish industrial capacity use falls again The level of Turkish industrial capacity in use fell in February, continuing a trend of slowing activity in the country’s factories for a third month. Less than three quarters of Turkey’s industrial capacity was operational in February, according to data issued by the Turkish Central Bank’s statistics unit on February 24. The 74 percent total […] February 25, 2025
Economy Confidence builds in Turkish real economy Turkish businesses are looking forward to better times but are still struggling with present day issues such as low levels of orders and a sluggish general economic environment. The Turkish Central Bank’s latest business tendency statistics and real sector confidence index, issued on February 24, recorded a steady increase in positive sentiment among the country’s […] February 25, 2025
Manufacturing PIF unit to manufacture lifts in Saudi Arabia Alat, a Public Investment Fund-backed manufacturing company, is setting up a €160 million ($168 million) joint venture with Germany’s TK Elevator to manufacture lifts and escalators in Saudi Arabia, the German company said in a statement. Alat, which was launched in February last year by Saudi Crown Prince Mohammed bin Salman, has acquired a 15 percent stake in […] February 25, 2025
Manufacturing Trinasolar of China to open first Mena factory in Jeddah Chinese solar panel maker Trinasolar will open its first factory in the Middle East in Jeddah to tap Saudi Arabia’s renewable energy market, which is expected to reach $125 billion by 2033. The plant in the kingdom’s second largest city will start operations before the end of next month. It will specialise in making solar […] February 20, 2025
Manufacturing Turkey’s Togg considers factories in Asia Turkey’s electric vehicle (EV) maker Togg is looking to expand manufacturing to Asian countries such as Malaysia, Indonesia and Pakistan, President Tayyip Erdoğan has said. Pakistan has already expressed interest in producing Togg vehicles, Daily Sabah reported citing the president. Erdoğan has given Toggs to each of the leaders of the three nations, saying it is […] February 17, 2025
Opinion Industry How Trump’s tariffs could reshape Gulf aluminium exports Ports, shipping, transport and logistics services must be ready to react quickly February 14, 2025
Manufacturing Top Turkish defence firm to build drones in Indonesia Baykar, a leading defence supplier based in Turkey, has signed a deal with the Jakarta-based defence company Republikorp to build a drone manufacturing plant in Indonesia, according to a local newspaper. The deal was among several agreements signed during President Tayyip Erdoğan’s visit to Indonesia, media reports said. Baykar, a private Turkish defence company chaired […] February 13, 2025
Analysis Energy Oman advances liquefied hydrogen export project While countries in the Gulf have big ambitions for hydrogen projects, they are still trying to work out how to export it. Oman, however, is advancing plans to establish what it says is the world’s first commercial scale liquid hydrogen “corridor” to export to Europe green hydrogen produced domestically. Usually, producers think about transforming it […] February 13, 2025
Manufacturing Bahrain space agency explores satellite manufacturing Bahrain’s National Space Science Agency (NSSA) has signed a memorandum of understanding with a Hong Kong-listed industrial satellite manufacturer to cooperate in satellite manufacturing. In addition, NSSA will work Uspace Technology Group in satellite telemetry, tracking and controlling, and data application activities, according to a statement to the Hong Kong Stock Exchange. Uspace plans to […] February 13, 2025
Tech $5bn Neom data centre latest deal announced at Leap Saudi Arabia’s $500 billion futuristic giga-project Neom has signed a $5 billion deal to develop what it claims will be the world’s first fully sustainable data centre. The agreement was signed with the Saudi IT and technology company DataVolt. The data centre will be located at Oxagon, with the first phase having a capacity of […] February 11, 2025
Manufacturing What Trump’s steel tariffs mean to the Middle East Donald Trump’s proposed US steel tariffs will put Turkish producers most at risk in the Middle East, while Gulf steel exporters will be sheltered from the worst of the damage, experts have told AGBI. On Sunday Mr Trump, the newly elected US president, said he would soon unveil 25 percent import taxes on all steel […] February 11, 2025
Manufacturing First batch of Omani built EVs ready for distribution Omani electric vehicle manufacturer Mays Motors has started delivery of its first cars to local companies. The Mays Alive car is said to have a range of 610 kilometres on a single charge, which is longer than most EVs, and retails at OMR11,000 ($28,500) for companies and OMR12,000 ($31,000) for individuals. The car features AI […] February 10, 2025
Industry Fertiglobe profit drops as topline falls 17% in 2024 Abu Dhabi-listed Fertiglobe, the largest nitrogen fertiliser producer in the Middle East and North Africa, said that year-on-year net profit in 2024 dropped by over a half on lower revenues. Net earnings fell to $160 million last year compared to $349 million in 2023, as revenues fell 17 percent to $2 billion, Fertiglobe said. Revenue for […] February 10, 2025
Manufacturing Ceer strikes $145m deal with Sabelt for EV sports seats Ceer, Saudi Arabia’s first electric vehicle (EV) brand, has struck a SAR543 million ($145 million) deal with Italy’s Sabelt to develop sports seats for its upcoming flagship E sedan and SUV models. The drivers will get the same seats as those in high-performance sports cars. Sabelt will create high-performance seats for Ceer, ensuring maximum protection, […] February 7, 2025
Opinion Trade US trade bravado hides a cautious stance on China Presidents Trump and Xi are going through the motions February 6, 2025
