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Handbag, Bag, Accessories

Japanese sports brand Asics kicks off Gulf expansion in Doha

Japanese sports brand Asics has signed a deal with the UAE’s Apparel Group to develop branded retail stores across the Gulf. The five-year franchise agreement will see the rollout of 20 stores in Qatar, the UAE, Saudi Arabia, Oman and Bahrain, with the first outlet opening in Doha Festival City Mall this week. Commenting on […]

Dubai Chambers
  • Analysis

New Dubai plan to support overseas expansion a ‘win-win’

A new initiative to support the expansion of Dubai-based businesses into international markets has been described by experts as a “win-win situation”. Dubai Chambers has launched In Focus, which aims to drive its members’ interest in selected regions as potential destinations for their global expansion plans. At the same time, it has launched new representative […]

China signed ‘$50bn of deals’ with Gulf nations in three days

China signed investment deals worth an estimated $50 billion with Gulf nations during President Xi Jinping’s three-day visit to Saudi Arabia last week. The $50 billion figure was reported by Bloomberg, citing the Saudi investment minister Khalid Bin Abdulaziz Al Falih, but details of the agreements struck during the first Arab-China summit have not been […]

Adidas

‘Made-in-Sialkot’ Adidas ball puts Pakistan in the World Cup

Even though it is a cricket-mad nation, Pakistan is playing a big part in theWorld Cup by making the balls used on the training fields in Qatar and the replicas sold to fans worldwide. Forward Sports, a multinational sports equipment company in the northeastern city of Sialkot, has been working with Adidas for almost 20 […]

Saudi and China sign 34 deals on first day of President Xi’s visit

Saudi and Chinese companies signed 34 investment agreements on Wednesday as President Xi Jinping started his visit to the kingdom. The agreements further bolstered trade between the countries which last year exceeded Riyadh’s with the US and Europe combined for the first time. Bilateral trade between Saudi Arabia and China totalled SAR304 billion ($81 billion) in […]

Morocco mulls hydrogen energy deal with Asia’s richest man

Morocco is ramping up plans to become a major producer and exporter of green hydrogen, and the investment deals reportedly on the table include with Indian billionaire Gautam Adani.  Named as Asia’s richest person, Adani is the chairman and founder of Adani Group, a multinational conglomerate with interests spanning the port development, industrial, logistics, and […]

Tower, Building, Architecture

Global fintechs target Dubai but Mena expansion still elusive

Dubai is seeing elevated levels of interest from fintech companies based in Singapore, southeast Asia and Asia-Pacific as the emirate builds its status as a regional hub. Dubai International Financial Centre said that during the first nine months of 2022, the number of fintech and innovation firms joining DIFC exceeded the total for the whole […]

People, Person, Man
  • Analysis

Xi Jinping visits Saudi as GCC looks east on trade

When President Xi Jinping of China arrives in Saudi Arabia on Wednesday, it is likely to add further momentum to a flourishing relationship with the GCC that surpassed trade with the US and Europe combined last year. Three summits are planned during the three-day visit with over 20 agreements worth more than $29.3 billion expected […]

Qatar 2022

Flight searches to Qatar soar from South Korea and Australia

Searches for travel to Qatar from nations competing in the World Cup surged in November as fans raced to reserve last-minute flights and accommodation in the tournament’s host country.  Enquiries for Qatar on travel aggregator website Wego from internet users in South Korea were up 168 percent in November versus the same period of 2021, […]

Damac Maldives

Damac expands to the Maldives with resort deal

Damac Properties is expanding further into South Asia with the signing of an agreement to operate a new Mandarin Oriental resort in the Maldives. The 34-hectare luxury resort, which is currently under development and will stretch across three private islands on the Bolidhuffaru Reef, is due to open in 2025 and will be the Dubai […]

Amaala

Saudi giga-projects: ‘enough work for every sector of the industry’

While much of the global economy is reeling from a sharp slowdown in growth, Saudi Arabia recorded a GDP growth rate of 8.6 percent in the third quarter this year, with its economy being propelled forward by ambitious projects in its tourism sector.  The Red Sea Global (RSG) giga-project, which comprises the kingdom’s flagship tourism […]

India

Abu Dhabi VC eyes booming Indian economy

Abu Dhabi-based Indian venture capital (VC) firm AUM Ventures has launched a $30 million fund to offer international investors access to tech, tech-enabled and consumer startups in India. The early and pre-growth stage VC firm, which has offices in Abu Dhabi, Bangalore and Mumbai, is licensed and regulated by Abu Dhabi Global Market (ADGM). The […]

Philippines trims 2023 GDP growth target due to global risks

The Philippines on Monday lowered its economic growth target for 2023, taking into account an anticipated weakening in global activity, but retained its expansion goals for the succeeding five years. The Southeast Asian nation’s economy is now expected to grow 6-7 percent next year, a lower and narrower range compared with the previous official goal […]

Flag, Japan Flag

UAE exports 34m barrels of oil to Japan in October

The UAE met 40.1 percent, or 33.99 million barrels, of Japan’s crude oil needs in October, state-owned WAM news agency reported, citing the Agency for Natural Resources and Energy in Tokyo. The agency, part of the Japanese ministry of economy, trade and industry, stated that the amount of crude that Japan imported during that month […]

Local media quoted finance minister Mohamed Maait as saying the issuance was expected to be at $500 million

Egypt aims to issue first Chinese yuan-denominated bonds

Egypt aims to issue its first “panda” bonds by the end of this fiscal year, deputy finance minister Ahmed Kouchock said on Sunday. “We are just waiting for the right moment,” Kouchouk told an event at the American University in Cairo. Panda bonds are bonds denominated in Chinese yuan but issued by foreign borrowers. Earlier, […]

The first shipment of Egyptian citrus is expected to be exported to the Philippines during the current season

Egypt to restart export of agri products to Philippines

Egypt will start exporting agricultural products to the Philippines after five years of negotiations, Reuters reported, citing the Egyptian Ministry of Agriculture statement. The first shipment of Egyptian citrus is expected to be exported during the current season. Egyptian agriculture exports from January 1 to August 24, 2022, reached around 4.49 million tons, Egypt Today […]

China's biggest commercial banks have also lined up at least $162 billion in fresh credit to property developers

China’s property woes fuel risks to financial system, says Moody’s

Risks to the stability of China’s financial system are rising on continued sluggishness in its property sector and an economic slowdown, making smaller banks more vulnerable, rating agency Moody’s said on Friday. China’s property sector has slowed sharply this year after Beijing’s efforts reined in excessive borrowing by developers. The clampdown has triggered falls in […]

An Iran fan in the Khalifa stadium, Doha, ahead of her team's opening World Cup match against England on November 21. A marine link from Bushehr, southern Iran, to Qatar has opened for the tournament

Qatar scores, with vital assists from Iran, Turkey and the UAE

Alongside the massive investment and the 12 years of preparation, Qatar has called in more than a few favours to aid the smooth running of the World Cup. While its allies have proved keen to help, Doha has had to tiptoe carefully around the geopolitical faultlines that run through the Gulf. Turkey has sent more […]

Buffett’s Berkshire ups stakes in Japan’s biggest trading houses

Berkshire Hathaway Inc, run by billionaire Warren Buffett, has raised its stakes in each of Japan’s five biggest trading houses by at least one percentage point to more than six percent, regulatory filings showed on Monday, sending shares higher. The move is line with Berkshire’s statement in 2020 that its investments in the Japanese trading […]

Ministers deliver statements during the closing plenary at Cop27

Cop27 deal delivers landmark on ‘loss and damage’, but little else

Countries adopted a hard-fought final agreement at the Cop27 climate summit early on Sunday that sets up a fund to help poor countries being battered by climate disasters – but does not boost efforts to tackle the emissions causing them. After tense negotiations that ran through the night, the Egyptian Cop27 presidency released the final […]