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Women working at a textile factory in Bilbeis, north of Cairo. Egypt's fabric and garment industry is a major source of hard currency

Egypt looks to China for cash injection to lift textiles industry

A delegation from China’s textile industry visited Egypt this week as part of the Cairo government’s strategy to attract investment to its fabric and garment businesses, local media has reported. The group of 37 Chinese business leaders and representatives from 25 companies met Mohammed El Shimy, Egypt’s minister for public enterprises, to discuss partnerships with […]

Saudi Arabia and China agree $3.7 billion in deals, strengthening agricultural trade ties and boosting Saudi food security efforts

Saudi Arabia and China sign deals worth $3.7bn to boost agriculture

Saudi Arabia and China have signed 57 agreements worth SAR14 billion ($3.7 billion) to strengthen their trade relations, focusing mainly on the agriculture sector. The two nations signed 31 agreements in the field of greenhouses, livestock, poultry and fisheries during the Saudi-Chinese Business Forum, the ministry of environment, water and agriculture said in a post […]

Aramco's Amin Nasser at the Saudi GP. On an earnings call this week, he pointed to steady oil demand from China and India

Aramco CEO Amin Nasser expects oil demand to hold ‘steady’

Saudi Aramco expects demand for oil to be higher this year than in 2024 and to hold “steady”, its CEO has said. Banks and international agencies have downgraded their forecasts for oil demand and prices in response to heightened trade tensions since April 2. But Aramco’s Amin Nasser said on an earnings call on Monday: […]

Kuwait City's central business district. Solar projects such as Shagaya will help Kuwait reach its target of 50% renewables by 2050

China to build large solar power plant in Kuwait

China has won a contract to build a large solar power park at the Shagaya renewable energy complex in the heart of the Kuwaiti desert. The facility will allow the Gulf state to increase renewables’ share of its energy mix to more than a quarter, a Kuwaiti minister said. The unnamed Chinese government company has […]

Bringing Chinese equities to the region would be a 'game changer' said Ahmed Al Aulaqi of the DIFC

Dubai lays out welcome mat for Chinese finance

The Dubai International Financial Centre is stepping up efforts to attract Chinese securities firms and corporates hoping to raise funds through initial public offerings, positioning itself as an alternative jurisdiction to Hong Kong and New York. Set up in 2004, the DIFC provides a platform for financial institutions with a legal and regulatory framework that […]

A worker at a smelting workshop pours the rare earth metal lanthanum into a mould. Turkey has deposits of lanthanum, cerium and neodymium

Turkey keen to cash in on rare earth potential

Turkey plans to become one of the world’s leading suppliers of rare earths, seeking to parlay its extensive reserves into a position of international strength by investing in extraction and processing while also looking to develop downstream industries. In 2022 Ankara identified a massive mineral deposit in the central Turkish province of Eskişehir containing 10 […]

Children play on a swing in Baghdad's Sadr district. Shandong Construction Company will initially build 11,000 homes in the area

China’s Shandong wins contract to build Baghdad housing

China’s Shandong Construction Company has won a contract to build the first phase of a 60,000-home project in the Iraqi capital Baghdad.  The development will be in an area formerly known as Saddam City after late leader Saddam Hussein, the state Iraq news agency reported, but which was renamed Al-Sadr City. Shandong will build 11,000 […]

Jetour T1 at the Auto Shanghai show in China. The carmaker is planning a facility in Dubai

China’s Jetour plans carmaking facility in Dubai

Chinese carmaker Jetour plans to start a manufacturing unit in Dubai as a springboard to supplying the UAE and the rest of the Gulf, its head of international operations told AGBI. “The GCC is the richest region in the world, and we obviously want to take it by the storm and be the No 1 […]

Adnoc Drilling and China’s Honghua Group partner as Adnoc expands Zakum offshore development with new rig contract

Adnoc awards rig contract to expand Zakum operations

State-backed Adnoc is expanding operations at the offshore Zakum development project after one of its subsidiaries awarded a contract for three island oil rigs. Adnoc Drilling won the $806 million contract from Adnoc Offshore and its CEO Abdulrahman Abdulla Al Seiari said this award will deliver high-quality returns well into 2038 and beyond. The three […]

China is exporting ceramic tiles at cheap cost following tariffs imposed by the US

Oman’s tile law could set pattern for the GCC

Oman plans to implement anti-dumping measures on ceramic tile imports from China and India, saying the materials that are widely used in the building industry are being sold at below-cost prices. This comes amid a global debate around the impact of increased US import tariffs on China, the world’s biggest manufacturer, and whether the tax […]

Hotel giant HWI will introduce multiple brands, including the renowned Steigenberger, to Saudi Arabia's growing tourism sector

H World International plans Saudi hotels development

H World International, a major hotel developer, will open multiple new properties in Saudi Arabia, including a branch of its 95-year-old Steigenberger brand. “We are about to announce much more development in Saudi Arabia, specifically around Riyadh,” said Siegfried Nierhaus, the hotelier’s Dubai-based vice president and head of development for the Middle East, India and […]

Oman and China are partnering on a significant solar project supporting Oman's objective of creating a pollution-free environment

Chinese company to build solar plant in Oman freezone

Oman has signed a deal with a Chinese company to develop a sizeable solar power plant in the north of the country. It is the latest in a series of green energy initiatives as the sultanate aims to diversify from fossil fuels and power green hydrogen ambitions.  The $564 million solar farm will be wholly […]

Saudi Arabia's 130 GW renewable target by 2030 hinges on securing equipment and local expertise for its growing solar and wind farms

Equipment and workforce key for Saudi renewables

Nacelles and blades, battery energy storage systems (BESS) and high voltage direct current (HVDC) cables, solar modules and wafers. A surge in large-scale renewable projects – such as the 2GW Al Shuaibah 2 solar project and 1.5GW Dawadmi wind farm – means the kingdom needs to secure equipment and expertise if it is to come […]

Riyadh Air CEO Tony Douglas (left) at the 2023 singing of an order with Boeing for 72 aircraft

Riyadh Air willing to buy Boeing planes cancelled by China

Riyadh Air CEO Tony Douglas has said that the Saudi startup carrier would be ready to buy Boeing aircraft destined for Chinese airlines if they are not delivered due to the escalating trade war between the United States and China. Boeing is looking to resell potentially dozens of planes locked out of China by tariffs […]

A guest takes photos of a Tesla, displayed during the launch of the company's first showroom in Riyadh, Saudi Arabia electric vehicles

Saudi Arabia’s EV ambitions face ‘chicken and egg’ dilemma

Few of the car enthusiasts who attended Tesla’s launch in Riyadh last month arrived in electric vehicles.  Hundreds turned out for the much-heralded opening event in Riyadh, an indication that the furore around the Tesla brand and its owner Elon Musk has not crossed the Atlantic.  Despite this, public enthusiasm for electric vehicles (EVs) in […]

Boeing's factory in Kansas. Chinese customers are declining aircraft deliveries due to the ongoing trade conflict with the US

China’s Boeing boycott opens doors for Gulf carriers

China’s escalating trade standoff with the US is reverberating through the global aviation industry, offering opportunities for Gulf airlines, as Chinese carriers refuse to accept US-built Boeing aircraft. Speaking on a first quarter earnings call on Wednesday, Boeing CEO Kelly Ortberg confirmed that several Chinese customers have declined to accept new aircraft due to retaliatory […]

Container vessels in Istanbul's Ambarli Port. Turkey's manufacturing base is struggling with rising borrowing costs

Turkey worried that cheap Asian goods will hurt economy

Turkey is concerned that an enduring trade war between the US and China and other Asian countries may encourage manufacturers to flood Turkey’s market with cut-price goods to make up for US losses, the finance minister has said. That could damage Turkey’s own manufacturing base, already struggling with high and rising borrowing costs and domestic […]

A Volkswagen dealership in Shenzhen, China. Foreign car makers in China are losing market share to domestic rivals

Volkswagen to export surplus stock from China to Middle East

Volkswagen is to start exporting cars from China, aiming to sell in other Asian markets, South America and the Middle East, its China chief Ralf Brandstaetter has said. Brandstaetter also said that the carmaker was ready to tackle domestic competition in the country. Carmakers in China, including Volkswagen, are grappling with how to make use […]