Markets Mubadala-backed Brazilian bourse awaits regulatory nod A stock exchange based in Rio de Janeiro is expected to begin operations by the end of April 2026, the executive leading the project said on Monday. The bourse, called Base Exchange and controlled by Abu Dhabi’s Mubadala, could shift Brazil’s financial landscape, as Sao Paulo-based stock exchange B3 currently reigns in the Brazilian market. Operations were […] June 17, 2025
Opinion Markets Searching for a Trump-proof gem? Head for an emerging market China, Singapore, Brazil and India could become havens for investors fleeing the trade war April 22, 2025
Food & Drink PIF food unit builds Jeddah factory with Brazilian partner Halal Products Development Company, a wholly owned subsidiary of Saudi Arabia’s Public Investment Fund, and Brazilian food processor BRF have started constructing a processed-food factory in Jeddah. The factory is being developed by the joint venture BRF Arabia Holding Company at a cost of $160 million, BRF said in a statement. Established in 2023, the venture […] April 22, 2025
Banking and Finance PIF unit backs Brazilian beef exporter’s capital top-up Salic International Investment Company, a subsidiary of Saudi Arabia’s Public Investment Fund, and Brazil’s VDQ Holdings have committed to a rights issue by Minerva, a beef exporter seeking to raise new capital. As part of the deal, the two companies, which own stakes in Minerva, have guaranteed a minimum 1 billion reais ($169 million) to […] April 8, 2025
Opinion Media & Advertising Caracas, high fives and Covid: my passport’s eventful decade Frank Kane's passport has taken him on a lot of adventures – what will the new one bring? April 4, 2025
Oil & Gas Saudi Aramco buys Peruvian fuel distributor Saudi Aramco has agreed to buy fuel distributor Primax, which has operations in Peru, Colombia and Ecuador, Peruvian newspaper Gestion reported, citing sources familiar with the deal. Primax, owned by Peruvian conglomerate Grupo Romero, has 2,185 gas stations in the three South American countries. The deal with Aramco included a payment of around $3.5 billion, Gestion […] March 24, 2025
Markets Mubadala seeks liquidity partners for new Brazil bourse Mubadala Investment Company, Abu Dhabi’s sovereign wealth fund, is in talks to form a consortium with up to 10 partners providing liquidity for a new stock exchange in Rio de Janeiro, two people familiar with the matter said. In return, those partners would receive equity that would modestly dilute Mubadala’s current 73 percent stake in […] March 18, 2025
Oil & Gas Turkey imports crude from Brazil after Russian oil ban Turkey’s largest oil refiner Tupras is set to receive a cargo of Itapu crude early next month, its first such purchase from Brazil, according to a source, and ship tracking data. Tupras last month said it had stopped buying Russian crude after the US announced new sanctions on Russia’s oil industry on January 10. The cargo of […] March 17, 2025
Agriculture GCC companies vie for stake in Brazilian grain trader Brazilian grain trader Agribrasil has held talks with suitors interested in buying a stake in the company, according to two sources familiar with the matter speaking on condition of anonymity because the discussions are private, and GCC companies are reported in the mix. Two sources named Solaris Commodities, an independent commodity trader headquartered in Dubai, […] March 10, 2025
Trade InvestSaudi to open second US office in Miami Saudi Arabia’s investment promotion authority, InvestSaudi, will establish its second office in the United States in Miami to target flows to and from North and South America. Khalid A. Al-Falih, the Saudi investment minister, made the announcement on Thursday at the Future Investment Initiative summit in the South Florida city. “By selecting Miami as our […] February 21, 2025
Oil & Gas Brazil joins Opec+ oil producers’ group Brazil, the largest oil producer in South America, has officially joined the Opec+ group of more than 20 countries that attempts to manage global oil output. The participation formalises an initial announcement in November 2023, a statement by Opec said. Brazil’s membership will be limited to the Opec+ Charter of Cooperation, a permanent forum between […] February 19, 2025
Analysis Trade Gulf-South America trade surges as economies grow When Dubai’s Emirates airline started flying from Dubai to Bogotá in Colombia last summer, it not only provided a vital link between the two cities but also highlighted growing trade and investment links between the Gulf and South America. UAE-Argentina non-oil trade surged more than 70 percent last year to $537 million, according to the […] February 17, 2025
Development Opec Fund and Dubai bank partner on Paraguay loan The Commercial Bank of Dubai has partnered with the Opec Fund for International Development to provide a $50 million syndicated loan to Banco Continental to support lending to small and medium-sized enterprises in Paraguay. The Opec Fund will contribute $25 million from its own resources and Commercial Bank of Dubai will provide a $25 million […] February 7, 2025
Analysis Trade 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 […] February 5, 2025
Logistics DP World to put $1bn into Peru ports Global ports operator DP World plans to invest more than $1 billion in developing port infrastructure in Peru. DP World CEO Sultan bin Sulayem conveyed the interest during a meeting with President Dina Boluarte at the World Economic Forum in Davos, Boluarte said in a post on X. The investment will promote agricultural exports and […] January 23, 2025
Mining Brazil and UAE sign minerals exploration deal The UAE and Brazil have signed an agreement potentially worth billions of dollars to invest in the search for minerals that are essential to the green energy transition. The memorandum of understanding aims to promote exploration for and development of “strategic” minerals, in a partnership that could reach R$15 billion ($2.45 billion) in investments, Brazil’s […] January 14, 2025
Analysis Health Healthcare providers from Americas target GCC tie-ups With the rise of chronic diseases and other complex medical needs, co-operation is growing between medical institutions in Gulf states and their counterparts in the US and beyond. Mass General Brigham Hospitals Network and the Dana-Farber Cancer Institute, both based in Boston, Massachusetts, and the Mayo Clinic of Rochester, Minnesota, are among the household names […] January 6, 2025
Oil & Gas Conflict hampering Mediterranean operations, says Chevron CEO US energy major Chevron has struggled to keep natural gas production online in the Eastern Mediterranean during the conflict in the Middle East, according to its chairman and chief executive Mike Wirth. Chevron is the largest producer of natural gas for Israel, in particular through two “large” offshore platforms, Tamar and Leviathan, that also supply […] December 12, 2024
Markets Mubadala-backed Brazilian bourse targets 2025 debut Brazil’s newest stock exchange, which is owned by Abu Dhabi’s Mubadala, is expected to begin operations in the second half of 2025, following a six-month testing phase. Base Exchange, the operator of the exchange, will initially trade equities, real estate funds and exchange-traded funds (ETFs) through its own clearing and settlement structure, Reuters reported, citing CEO Claudio […] December 12, 2024
Trade UAE expected to sign trade deal with Mercosur bloc next year The UAE is expected to sign a comprehensive economic partnership agreement with the Mercosur bloc of South American countries next year, senior officials have said. The UAE and Brazil announced that talks about a Cepa were progressing, following a third round of negotiations last month in Uruguay. The talks started late last year and continued […] December 11, 2024
Transport Mubadala to sell Brazilian port and mining assets Abu Dhabi’s Mubadala Capital has commenced work on selling Porto Sudeste, a Brazilian private port terminal. The port is co-owned with Singapore-based commodities trader Trafigura. Describing Porto Sudeste as a “mature” asset, Leonardo Yamamoto, executive director of Mubadala Capital Brazil, told Reuters that the company’s role is “no longer very relevant”. Mubadala Capital and Trafigura […] November 12, 2024
Food & Drink Gulf’s taste for chicken boosts Brazilian exports Saudi Arabia and the UAE has helped Brazil record the second-highest volume of chicken meat exports in a single month. Shipments of chicken from Brazil in September increased 17.6 percent to the United Arab Emirates and 5.9 percent to Saudi Arabia. Brazil, the world’s largest supplier of chicken meat, exported 485,000 tonnes in total last […] October 8, 2024
