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Emirates Airline A380s being assembled at the Airbus factory in Toulouse, France

Airbus expects Middle East aircraft fleet to double by 2043

Aircraft manufacturer Airbus expects fleet size in the Middle East to more than double in the 18-year period to 2043, the world’s third-fastest rate after China and the Asia-Pacific region. In its latest Global Market and Services Forecast, Airbus said Middle East demand, led by airlines in the Gulf, is estimated at 3,740 new aircraft […]

Giorgio Marsiaj, founder president and CEO of Sabelt and Jim DeLuca, CEO of Ceer at the deal signing ceremony

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, […]

UAE president Sheikh Mohamed bin Zayed Al Nahyan and French President Emmanuel Macron attend the signing ceremony of the AI cooperation framework

UAE and France to invest up to $50bn in AI data centre

France and the United Arab Emirates agreed on Thursday to a framework accord for a 1 gigawatt data centre dedicated to artificial intelligence (AI) that represents investments of between $30 billion-$50 billion, the French presidency said. President Emmanuel Macron hosted his Emirati counterpart Sheikh Mohamed bin Zayed al-Nahyan on Thursday evening ahead of a summit […]

A wind turbine installation vessel in Ostend port, Belgium. NMDC Energy says wind will account for as much as 20 percent of the company's revenues in the next few years

Abu Dhabi’s NMDC Energy to invest in wind power

Abu Dhabi’s NMDC Energy, an engineering, procurement and construction contractor for energy projects, is hoping to expand its renewable energy business in South East Asia and Europe.  Ahmed Al Dhaheri, NMDC Energy’s CEO, told AGBI that wind will account for as much as 20 percent of the company’s revenues in the next few years, with […]

BP will work to increase crude production from Iraq's Kirkuk oilfields by 150,000 bpd to 450,000 bpd within three years

BP to invest up to $25bn to redevelop Iraqi oilfields

BP may invest up to $25 billion to redevelop four Kirkuk oil and gas fields in Iraq, according to a media report. The British oil major is likely to commit between $20 billion and $25 billion in a profit-sharing pact that will last more than 25 years, Reuters reported, quoting an unnamed senior Iraqi oil official. […]

Morocco LNG

UK’s Sound Energy helps Morocco enter LNG market

Led by the UK company Sound Energy, Morocco is due to enter the liquefied natural gas market by the end of this year, as it finalises the development of its first LNG processing facility. Sound Energy owns a 20 percent stake in the project. The Moroccan mining company Managem owns 55 percent, while the remaining […]

AEG provided design and installation of temporary infrastructure at the Paris Olympics

Abu Dhabi’s Modon plans to buy UK events company

Modon Holding has announced plans to acquire a global events company. Modon, an investment company that is backed by state-owned Abu Dhabi Developmental Holding Company (ADQ), announced on Monday that it plans to complete the acquisition of Theta Bidco, a limited company registered in London that owns 100 percent of Arena Events Group (AEG).  The […]

Redbird IMI ITV Coronation Street

UK’s ITV in sights of Abu Dhabi-backed RedBird IMI

RedBird IMI, the Abu Dhabi-backed US investment management company thwarted in its attempt to take control of the UK’s Telegraph newspaper group, has turned its attention to a deal involving the British broadcaster ITV. Discussions have taken place, according to reports, with a view to merging the business of ITV Studios with All3Media, which was […]

Acwa green hydrogen Germany

Acwa Power signs green hydrogen supply deal with Germany

Acwa Power, the Saudi power supplier, has signed an agreement with German energy trading company Securing Energy for Europe (Sefe) to supply 200,000 tonnes of green hydrogen a year by 2030. Under the memorandum of understanding signed on Monday, Acwa Power will act as the lead developer, investor and operator of green hydrogen and green […]

Oman copper mining

UK mining company unearths copper deposits in Oman

Major copper deposits in the Al Batinah region of Oman have been uncovered by a UK mining company, Power Metal Resources.  The discovery was made in Block 8, about 130km from Muscat. Power Metal Resources acquired the exploration rights for the area from the government of Oman two years ago and started work on it […]

HVS hydrogen Qatar Abdul Waheed

Qatari AI company invests in Scottish hydrogen lorry maker

Qatari AI software supplier Excelledia Ventures has invested in a Scottish HGV manufacturer that is developing zero-emission hydrogen-electric trucks. Glasgow-based Hydrogen Vehicle Systems (HVS) has developed an AI emissions reduction technology that optimises diesel, battery and hydrogen-powered trucks to enhance efficiency and reduce emissions. The hydrogen HGV that HVS is developing has a range of […]

Properties in Malaga and other towns in southern Spain are drawing in younger Gulf investors

Gulf investors seek property in Spain despite tax threat

For a new generation of young, wealthy Gulf investors, London and Paris are out, and property in Marbella and Malaga is in, even if Spain’s leader is doing all he can to deter them. A fresh plan by Spanish Prime Minister Pedro Sánchez to impose a 100 percent tax on acquisitions of domestic real estate […]

Jordan's King Abdullah II and European Commission President Ursula von der Leyen at the Joint Declaration signing in Brussels

EU’s $3bn to back Jordan’s economy amid challenges

The European Union (EU) will provide a €3 billion ($3.13 billion) financial package to Jordan to support its growth, as it manages the impact of regional geopolitical challenges. The 2025-2027 financial package will include €640 million in grants, €1.4 billion in investments, and €1 billion in macro-financial assistance. “Jordan is a key partner for Europe in the Middle […]

A model of an IBM quantum computer at a trade fair. Alice & Bob says its 'cat qubits' can improve on traditional quantum computing

Qatar leads funding for quantum computing company

Alice & Bob, a Paris-based quantum computing company, has raised $104 million in a Series B funding round led by an investment joint venture between Qatar Investment Authority and Bpifrance. The funding will accelerate the development of the French company’s quantum computing platform, which utilises its “cat qubit” technology. A qubit (quantum bit) is the […]

A rendition of 2 Finsbury Avenue, which is being built in the City of London as a joint venture between Modon Holding, British Land and GIC

London tower project announced by Abu Dhabi’s Modon

A joint venture with property developer British Land and the Singapore sovereign wealth fund GIC to develop a dual high-rise office-led tower project in central London has been announced by Abu Dhabi’s Modon Holding.  The partnership will deliver a 750,000 square feet mixed-use project at an office-led campus in Broadgate in the City of London. It […]

Esyasoft has offered to buy UK-based Good Energy, which says it uses 100 percent renewable sources

UAE’s Esyasoft to buy UK provider Good Energy

Energy company Esyasoft has agreed to acquire UK renewable electricity provider Good Energy for almost £100 million ($123 million) at 490p per share. The deal, which is subject to shareholders’ approval, represents a premium of 66 percent on Good Energy’s closing price on October 25, the last trading day before the start of the offer period.  […]

Lunate abu dhabi pipeline adnoc

Lunate to buy stake in Adnoc Gas Pipelines

Lunate, the alternative investment manager based in Abu Dhabi, is buying a minority stake in Adnoc Gas Pipelines. AGP is a subsidiary of Abu Dhabi National Oil Company (Adnoc) and has lease rights to 38 pipelines covering a total of 982km across the UAE.  The gas pipeline network links the UAE’s upstream energy-producing assets and […]

City, Architecture, Building

Pure Health buys stake in Greece’s Hellenic Healthcare

Abu Dhabi-listed Pure Health has agreed to purchase a 60 percent stake in Hellenic Healthcare, an Athens-based private healthcare services provider. The transaction values Hellenic Healthcare at €2.2 billion ($2.31 billion). The sellers – CVC Capital Partners VI and the founder of Hellenic Healthcare – will retain 35 percent and 5 percent stakes in the […]

Gonio Marina is a 260-hectare beach-front and marina development that will include branded residences, hotels and retail parks

Eagle Hills signs $5.7bn deal to develop projects in Georgia

Abu Dhabi developer Eagle Hills has announced plans to invest more than €5.5 billion ($5.7 billion) in two projects in Georgia.  It signed an agreement with the Georgian government to develop waterside projects in Tbilisi and Batumi.  The Krtsanisi Park in Tbilisi will be a riverside mixed-used project of residences and retail spaces that will […]

Saudi Crown Prince Mohammed bin Salman Al Saud and Italy's prime minister Giorgia Meloni in AlUla have signed a deal to upgrade relations between the countries

Italian insurer guarantees $3bn Saudi giga-project loan

Sace, an Italian state-owned insurance company, has guaranteed a multi-currency loan of $3 billion provided by nine international banks to support projects in Neom, Saudi Arabia’s $500 billion giga-project. The announcement coincided with an official visit by Italian prime minister Giorgia Meloni to Saudi Arabia, where she and Crown Prince Mohammed bin Salman signed an […]