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Savvy Games woman at computer

Saudi gaming company courts giants of Japan and South Korea

Japanese and South Korean gaming companies such as Nintendo and Kakao are being targeted by Saudi Arabia’s Savvy Games Group, which wants them to set up in the kingdom to make products aimed at local consumers. Brian Ward, CEO of Savvy, told AGBI: “If locally made Arabic games tap into the ancient lore and history […]

Plaza Premium offers airport hospitality in Singapore's Changi Airport and plans to use its expertise in the Gulf transit hotels

Airports consider ‘transit hotels’ for 6-hour stays

Saudi Arabia’s aviation expansion could stretch to transit hotels inside airport terminals where customers can pay for stays of less than the standard 24 hours.   A Hong Kong-based company is developing the concept in the Gulf, with hotels offering six and 12-hour stays already established in Jeddah and Abu Dhabi, and a Muscat hotel that […]

QIA is looking to invest in Japan's real estate, manufacturing and semiconductor sectors

Qatari wealth fund targets expansion in Japan 

Qatar Investment Authority (QIA), the country’s sovereign wealth fund, is exploring new opportunities in Japan, according to a media report. “It’s a key market for us,” Abdulla Ali Al-Kuwari told Nikkei, a financial daily in Japan. The fund’s investments in Japan have “more than doubled” after it opened an office in Singapore in 2021, he […]

QatarEnergy CEO Saad Sherida Al Kaabi said the deal will strengthen its 50-year partnership with Japan's Idemitsu

QatarEnergy signs naphtha deal with Japanese refiner

QatarEnergy will supply six million tonnes of naphtha to Japan over the next 10 years starting in July. The state-backed gas producer has signed a supply deal with Idemitsu Kosan Company, a Japanese refining and petrochemicals company. Naphtha is a flammable liquid hydrocarbon mixture commonly used as a solvent. It can also be used in […]

PM Narendra Modi greets supporters at BJP headquarters in New Delhi. He took office in 2014

642 million votes counted … now India can get back to business

Narendra Modi has claimed victory in India’s election – and many in the Gulf will be delighted at the prospect of a third Modi term. The prime minister’s pro-business credentials and economically liberalising tendencies remain credible, if battered, after 10 years in office.  His Bharatiya Janata Party did not perform as well as expected, however, […]

Socar president Rovshan Najaf and Adnoc upstream executive director Abdulmunim Saif Al Kindy sign the concession award

Adnoc awards concession interest to Azerbaijan’s Socar

Abu Dhabi National Oil Company (Adnoc) has signed an agreement to award a 3 percent interest in the Sarb and Umm Lulu offshore concession to State Oil Company of the Republic of Azerbaijan (Socar). The agreement follows previous collaborations between the two companies, including Adnoc’s acquisition of a 30 percent equity stake in the Absheron […]

United Arab Emirates President Sheikh Mohamed bin Zayed Al Nahyan, South Korean President Yoon Suk Yeol and his wife Kim Keon Hee watch the Black Eagles, the aerobatic team of T-50 jets belonging to South Korea's air force, during a welcoming ceremony at the Presidential Office in Seoul on May 29, 2024. JUNG YEON-JE/Pool via REUTERS

Trade deal signed during UAE state visit to South Korea

The UAE has signed a trade agreement with South Korea during a two-day state visit by the Emirati president, Sheikh Mohamed bin Zayed Al Nahyan, that has resulted in deals worth billions of dollars being struck between the two countries. The UAE has become the first Arab country to formally sign a comprehensive economic partnership […]

Organisations have protested US investment bank BlackRock’s participation in the bid to buy a stake in Malaysia Airports Holdings

Malaysian airport deal faces Gaza war backlash

Plans by a consortium, including the UAE’s largest sovereign wealth fund, to buy a stake in Malaysian airports have been hit by protests against the deal from local business organisations in the Asian country. As many as 22 organisations have called upon the Malaysian government to block US investment bank BlackRock’s participation in the bid […]

Pakistan’s prime minister Muhammad Shehbaz Sharif meets UAE president Sheikh Mohamed bin Zayed Al Nahyan in Abu Dhabi

UAE commits to invest $10bn in Pakistan’s economy

The UAE intends to invest $10 billion in various economic sectors in Pakistan. “UAE president Sheikh Mohamed bin Zayed Al Nahyan assured the Emirates’ support in all circumstances and made a commitment of investing $10 billion in multiple sectors,” Pakistan’s prime minister’s office said in a statement. The statement was released after the UAE president […]

Pilgrims Saudi Malaysia

Pilgrim air terminal planned for Kuala Lumpur airport

Saudi Arabia and Malaysia are planning to build a pilgrimage air terminal in Kuala Lumpur to increase tourism numbers in both countries. Malaysia’s transport minister Anthony Loke told an aviation industry forum in Riyadh that it was looking with the Saudi Arabian government into “building and establishing a Hajj and Umrah hub” in Kuala Lumpur […]

A cargo plane lands at a Malaysian airport. MAHB’s airport network serves some of the world’s fastest-growing aviation markets

UAE wealth fund in $4bn bid to privatise Malaysian airport

A consortium that includes the UAE’s Abu Dhabi Investment Authority has announced a voluntary offer to acquire all the shares in Malaysia Airports Holdings Berhad (MAHB) for nearly $4 billion. The other consortium partners are Malaysian government-backed Khazanah Nasional and the Employees Provident Fund (EPF) and New York-headquartered Global Infrastructure Partners (GIP). Upon completion of the offer, Khazanah ownership stake in MAHB […]

Investment talks. Dubai reported 1,650 FDI projects in 2023

Dubai tops ‘greenfield’ FDI ranking for third year

Dubai is the world’s top location for “greenfield” foreign direct investment for the third consecutive year, according to fDi Markets. A total of 1,070 greenfield FDI projects, where a company sets up in a foreign country, building its facilities from the ground up, were reported in Dubai in 2023. This was more than double the […]

Mubadala Energy employed the drillship West Capella for its latest gas discovery off Indonesia

Mubadala Energy makes second gas discovery off Indonesia

Mubadala Energy, a wholly owned subsidiary of Abu Dhabi wealth fund Mubadala, has made a significant deep-sea gas discovery in Indonesia’s South Andaman Block. The Tangkulo-1 exploration well was drilled about 65 kilometres off North Sumatra and has an estimated capacity of 80 million-100 million cubic feet per day and over 2,000 barrels of condensate. […]

SJP's chief investment officer Justin Onuekwusi, second from right, at the event in Dubai. Other speakers included, from left, Ben Powell of the BlackRock Investment Institute, Angelina Lai of SJP Asia and Middle East, and Robert Willock of the Economist Intelligence Unit

Wealth manager seeks Gulf growth despite setbacks in UK

St James’s Place, the UK’s largest wealth manager, plans to target local customers to expand its one-year-old Gulf operation as it seeks to brush off reputational setbacks in its home market. In February SJP disclosed that it had set aside more than $500 million for potential client refunds after an increase in complaints about its […]

Shoppers in the Philippines' capital, Manila. UAE trade with the country was worth $2 billion in 2023

Philippines is next stage of UAE’s Asean trade push

Negotiations on a free trade agreement between the UAE and the Philippines began this week as the Gulf state turns its focus to the Association of Southeast Asian Nations bloc (Asean). Manila is hoping to seal a deal before the end of this year, said Allan Gepty, undersecretary for international trade at the Department of […]

The power purchase agreement is isgned in the presence of Uzbek prime minister Abdulla Aripov and Saudi energy minister Prince Abdulaziz bin Salman Al Saud

Acwa Power builds Uzbekistan portfolio with $5bn deal

Saudi energy major Acwa Power has signed a power purchase agreement worth nearly $5 billion with the state-owned National Electric Grid of Uzbekistan for the five gigawatt (GW) Aral wind independent power producer (IPP) project. The wind IPP will be the largest wind farm in Central Asia and is the Saudi-listed renewable company’s 15th project in Uzbekistan, a […]

Last year, there was a 29 percent increase in international tourist arrivals to the GCC compared to 2022

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 […]

DMCC CEO Ahmed Bin Sulayem says there is 'there is plenty of untapped potential' for UAE trade with Japan

Dubai free zone to build on UAE-Japan trade

A Dubai free zone has concluded a trade roadshow in Japan as the UAE looks to increase non-oil bilateral trade, which was worth nearly $7.5 billion in the first half of 2023. Dubai Multi-Commodities Centre (DMCC) said its first Made for Trade Live roadshow in Japan focused on web3, gaming and artificial intelligence. DMCC contributes […]

2REKCFR Soroako, Indonesia. 28th July, 2023. A worker seen in action at Nickel mine, operated by PT Vale Indonesia in Sorowako. U.S. Geological Survey Shows that Indonesian nickel reserves ranked first, reaching 21 million tons or equivalent to 22% global reserves. Credit: SOPA Images Limited/Alamy Live News

Manara takes a $2.5bn stake in Brazilian mining giant

Manara Minerals, a joint venture between Saudi Arabian Mining Co (Maaden) and the sovereign Public Investment Fund (PIF), has completed a $2.5 billion deal to acquire a stake in a subsidiary of Brazilian giant Vale. Maaden said in a filing to the Saudi Exchange that it has acquired 10 percent of Vale Base Metals Limited […]

Monthly remittances from the UAE averaged over $450 million, making the Gulf nation the top remittance source nation

Remittances from UAE to Bangladesh surge 48%

Remittances from the UAE to Bangladesh surged 48 percent year on year to $3.3 billion in the first nine months of fiscal year 2023-24, according to data from the country’s central bank. Dhaka receives remittances between $250 million to $300 million per month from the UAE, The Business Standard, a financial newspaper, reported. However, remittances […]