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The harbour at Cherchell, Algeria, the site of a planned deep-water port

Algeria cancels deep-water port project with China

Algeria has officially shelved a $3 billion project to build what could have been one of Africa’s largest ports, nine years after a group of Chinese and Algerian companies signed an initial agreement, Ports Europe reported. The Algerian authorities, China State Construction Engineering Corporation and the China Harbour Engineering Company, signed an initial agreement in […]

Neom Investment Fund CEO Majid Mufti holds a seat on Volocopter’s advisory board

Neom-backed Volocopter bought by Chinese company

Chinese automotive and aerospace group Zhejiang Wanfeng Auto Wheel has acquired failed German air taxi developer Volocopter, a partner in Saudi Arabia’s Neom giga-project, for $11 million. The sale follows Volocopter’s collapse into insolvency in December, raising questions over Neom’s urban air mobility ambitions in its futuristic city development on Saudi Arabia’s north-western Red Sea […]

Saudi china oil

Chinese demand for Saudi crude to drop 13% in April

Shipments of crude oil by Saudi Arabian to its biggest customer, China, are expected to drop in April to their lowest in more than a year, trade sources said on Thursday, partly due to maintenance at Chinese refineries owned by Sinopec. Saudi Arabia allocated about 35.5 million barrels of oil in April to its Chinese […]

The King Abdullah Financial District Metro Station in Riyadh. The $5.6bn subway contract accounted for nearly a third of Chinese construction investment in Saudi Arabia

Middle East is top recipient of Chinese Belt and Road deals

The Middle East was the top recipient of construction and investment deals under China’s Belt and Road Initiative (BRI) in 2024, with the total value reaching $39 billion.  That may not go down well in Washington. Saudi Arabia and construction topped the list, according to a report by Griffith Asia Institute, based in Queensland, Australia. […]

The U9 supercar, made by BYD's Yangwang brand. Chinese car makers such as BYD are increasing their market share in the UAE

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 […]

Factory workers building an H9 off-road vehicle from Haval, one of the Chinese car brands gaining ground in the UAE

Chinese car makers target UAE’s Ramadan bargain hunters

Chinese car makers look set to win big over traditional manufacturers from the US, Japan and Europe among Ramadan bargain hunters in the UAE this year. For years, Japanese, American, and European carmakers have relied on Ramadan promotions, offering free insurance, extended warranties and zero percent financing, to increase sales.  But buyers, squeezed by inflation, […]

Airport, Aircraft, Takeoff

Emirates explores more China destinations

Emirates intends to fly to more cities in China this year. The airline plans to start daily flights to Shenzhen using Boeing’s widebody 777 jets by mid-year, Bloomberg said, citing informed sources. The launch date has been postponed multiple times due to delivery delays from Boeing and Airbus and a retrofit programme, the sources said. In addition, […]

Trinasolar Jeddah, Trinasolar Saudi Arabia, Trinasolar Mena, Trinasolar Saudi factory

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 […]

Mining operator on mining machine, underground mine mesh

From fertiliser to minerals, GCC-Brazil ties move beyond oil

Since the start of the year Saudi Arabia and the UAE have moved aggressively to expand their access to mineral resources in Brazil. In turn, Brazil is increasing purchases of Gulf fertilisers as economic links between the countries deepen. The Public Investment Fund-controlled mining giant Ma’aden is gearing up to open its first ever office […]

US President Donald Trump with China's President Xi Jinping at a G20 conference: both countries are vying for Gulf trade

A 10% tariff on China – and a tricky calculation for the Gulf

At one minute past midnight in Washington, the United States’ 10 percent tariff on Chinese imports came into effect. Beijing retaliated moments later, announcing even heavier levies on US goods from next week. Canada and Mexico were granted a temporary reprieve after talks on Monday, but there was no last-minute deal for President Donald Trump […]

Indoors, Interior Design, Wood The logo for Goldman Sachs on the trading floor at the New York Stock Exchange. The investment bank kept its 2025-26 oil price forecasts unchanged

Trump’s tariffs will not move oil prices, says Goldman Sachs

The new tariffs imposed by US President Donald Trump on imports from Canada, Mexico and China are likely to have a limited near-term impact on global oil and gas prices, Goldman Sachs said in a note on Sunday. “Potential tariff-driven decline in US natural gas imports from Canada is too small to significantly raise US […]

A shopping mall decorated in preparation for Chinese New Year. Approximately 400,000 Chinese citizens live in the UAE

Growing number of Chinese celebrating new year in UAE

The UAE has recorded an increase in the number of Chinese travellers making the journey for new year celebrations this year. Arrivals from China to the UAE have grown 9 percent year on year, a study by the travel insight specialist ForwardKeys has found. While exact details of the dates surveyed or total number of […]