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Boy, Child, Male. Nord Anglia operates more than 80 schools in 33 countries, educating more than 90,000 students

Dubai Holding is a buyer of UK’s Nord Anglia schools

Dubai Holding, the personal investment portfolio of the ruler of the emirate, is among a group of companies that bought the UK school operator Nord Anglia Education for $14.5 billion. Other investors include the Swedish investment group EQT and Neuberger Berman from the US. Nord Anglia operates more than 80 schools in 33 countries, educating […]

A Russian oil tanker crosses the Bosphorus in Turkey. If Russia faces difficulty with exporting its oil, Gulf states could benefit

Why Russia could ease the Gulf’s oil headache

The Opec+ countries have said that they will conduct “a gradual and flexible return” of 2.2 million barrels a day in production through until the end of next year. Saudi Arabia in particular has been gritting its teeth in holding back over 3 million bpd in spare capacity as it has watched while others – […]

The planned $35 billion expansion of Dubai’s Al Maktoum International Airport could generate work for UK companies

UK pushing for increase in business with UAE

Britain is “very keen” to secure business in the aviation, hospitality and financial services sectors and elsewhere in Dubai and the wider UAE, a UK trade commissioner has told AGBI.  A free trade agreement between the UK and the Gulf Co-operation Council, which includes the UAE, would support these opportunities for British companies, said Sarah […]

Cognite makes software to improve the operation of industrial installations, such as oil and gas platforms

Aramco-backed Cognite taps India in AI growth move

Saudi Aramco-backed industrial software company Cognite has opened an AI services centre in the southern Indian city of Bengaluru and said it is exploring potential contracts with top conglomerates in the country. The Norwegian company said it had signed up with a large industrial cement company and a major automotive company but declined to provide […]

The proposed deal for the 450MW portfolio will further expand Masdar's operations in Spain

Masdar in talks on $200m solar power deal in Spain

Abu Dhabi renewable energy company Masdar is nearing a deal that would see it pay around $200 million for a 49.9 percent stake in a solar portfolio controlled by Spanish power utility Endesa, according to two sources familiar with the deal and a document seen by Reuters. The deal for the roughly 450-megawatt portfolio builds […]

BP CEO Murray Auchincloss, pictured at the CERAWeek conference in Houston last week, signed the Kirkuk agreement in Iraq

Iraq approves Kirkuk oilfield development deal with BP

Iraq has officially endorsed an agreement with UK energy major BP for the development of four oilfields in the northern Kurdish Kirkuk region. The cabinet gave its final approval to the multi-billion dollar contract at a meeting this week headed by Prime Minister Mohammed Al-Sudani, the official news agency said. BP expects to invest up […]

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 […]

The Rolls Building in London, where high-value commercial cases are heard. The Kuwait pension fund trial is expected to last one year

Kuwait pension fund’s $1bn lawsuit begins in London

Kuwait’s public pension fund has accused asset manager Man Group, Swiss bank EFG and others of laundering bribes paid to its late director as a $1 billion trial begins at London’s High Court. The Public Institution for Social Security, which operates Kuwait’s social security and pension scheme, is also suing the estate of Fahad Al Rajaan, its director from 1984 to […]

Newcastle United players in a penalty shoot-out versus Chelsea. The PIF-backed club may be playing to bigger crowds if plans for a 65,000-capacity stadium go ahead

PIF considers new stadium for Newcastle United

Saudi Arabia’s sovereign wealth fund is considering funding a new stadium development for English Premier League (EPL) side Newcastle United, according to UK media reports. The Public Investment Fund (PIF), which has over $925 billion worth of assets, led a buyout of Newcastle in October 2021, alongside PCP Capital Partners and RB Sports & Media […]

Fatih Birol, Executive director of the International Energy Agency, arrives for a meeting with international investors in IA at the Elysee Palace as part of the Artificial Intelligence (AI) Action Summit in Paris, France, February 10, 2025. REUTERS/Gonzalo Fuentes

IEA’s hard line on oil glut clashes with Opec forecast

The International Energy Agency (IEA) has said US tariffs will contribute to a decline in global oil demand growth this year, once again contrasting with Opec’s more optimistic forecast. In a monthly report published on Thursday the IEA forecast that oil demand would grow by 1 million barrels per day (bpd) in 2025, down 70,000 […]

Red Bull will not put its logo on the Al Ahly team's shirts or around the team's stadium in Cairo

Boost for Arab soccer as Red Bull sponsors Al Ahly

Egypt’s most successful football club has kicked off what could become a sponsorship rush from European companies into the country’s top league. Al Ahly of Cairo, winners of 44 Egyptian Premier League titles and 12 Confederation of African Football Champions League titles, has agreed a marketing partnership with the Austrian drinks company Red Bull.  No […]

The Mobile World Congress was held in Barcelona earlier this month

Abu Dhabi’s Thuraya enters satellite smartphone market

Thuraya Mobile Satellite Communications Company, a unit of Abu Dhabi’s Space42, is moving into the smartphone market, hoping to access a global satellite-capable smartphone business that could be worth as much as $15 billion within a decade. Led by the emirate of Abu Dhabi, the UAE federation is investing in its capabilities in space. Combined, […]

Syria's interim President Ahmed al-Sharaa disembarks an airplane. He has repeatedly called for the lifting of sanctions

UK lifts sanctions on Syrian central bank and oil companies

The UK unfroze the assets of Syria’s central bank and 23 other entities, including banks and oil companies, on Thursday, reversing sanctions imposed during Bashar al-Assad’s presidency. The West is rethinking its approach to Syria after insurgent forces led by the Islamist Hayat Tahrir al-Sham ousted Assad as president in December after more than 13 years […]

TotalEnergies' energy deal with Iraq is worth $27bn, with various phases to be completed between 2025 and 2027

TotalEnergies starts building Iraq’s largest solar plant

France’s TotalEnergies has started constructing Iraq’s largest solar power plant as part of a $27 billion energy deal it signed in 2023. The plant, based in the southern oil hub of Basra, has a production capacity of 1,000 megawatt (MW) and includes installing two million solar panels, the official news agency said, citing an Electricity […]

Newcastle United players in a match versus Nottingham Forest. The club has reduced its losses as revenues increase

Saudi-backed Newcastle United narrows losses to $14m

Saudi Arabia-backed Newcastle United Football Club has reported an £11 million ($14 million) loss for the last financial year, despite a 30 percent increase in revenues. The deficit at the Public Investment Fund majority owned English Premier League club was reduced by £60 million year on year, attributed largely to the money gained from qualifying […]

Saudi Aramco reported a drop in its 2024 profit and signalled it will slash its dividend payouts by nearly a third this year

Aramco explores potential bid for BP’s Castrol unit

Saudi Aramco is in the early stages of considering a potential bid for BP’s lubricant business Castrol, according to a person with knowledge of the matter. BP has been exploring all options around its Castrol business, including a possible sale, as part of a strategic review. The business would be expected to be worth around $6 billion to […]

A Neom exhibition. Saudi Arabia is looking for funds for such projects and its PIF has signed an MoU with a credit agency from Italy

PIF signs $3bn deal with Italy’s export credit agency

Saudi Arabia’s Public Investment Fund said on Wednesday it had signed a memorandum of understanding worth $3 billion with Italy’s export credit agency, SACE. The sovereign wealth fund is working to boost finances to fund the country’s giga-projects. “The MoU focuses on providing financing support for co-operation between Italian companies in the private sector and […]

Airbus is considering establishing maintenance, repair and overhaul facilities for the A400M in the UAE

Airbus weighs production of military aircraft parts in UAE

European planemaker Airbus is exploring the possibility of manufacturing components and setting up a maintenance facility for the A400M, a military transport aircraft, in the UAE. The plan includes integrating local entities – including EPI, part of defence company Edge Group, and Strata, a subsidiary of Abu Dhabi investment vehicle Mubadala – into the A400M’s global aerospace […]