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New York-headquartered multinational investment Management Corporation is considering to hike its investment in Egypt after it launched a $673 million climate-focused infrastructure fund, Reuters reports. The Arab republic, David Giordano, global head of renewable power at BlackRock Alternative Investors has Read more
Kuwait may allow foreigners full ownership of companies in a push to attract more investments and boost the economy, Zawya reports. The plans according to Abdullah Al-Sabah, deputy director general for investment operations at Kuwait’s Direct Investment Promotion Authority, aim Read more
Google announced Wednesday a five-year, $1 billion investment plan for the African continent, promising faster and more affordable Internet access and financial support for local startups in this market with a young population. Less than a third of Africa’s 1.3 Read more
American alternative investment management company, Blackstone, is in advanced talks to acquire Dubai-headquartered VFS Global, the world’s largest visa outsourcing company, for $1-1.2 billion, reports say. Both sides, Zawya notes citing India’s Economic Times website, have completed the due diligence Read more
The kingdom of Saudi Arabia has banned serving ministers from heading boards of companies or being members unless directed by the head of the Cabinet as the Gulf country seeks to limit conflict of interest in companies and improve governance. Read more
The UAE launched Monday the “United Global Emirates” initiative aiming at attracting foreign minds and investments. “We are launching “United Global Emirates”, an international campaign to highlight the benefits and incentives that the UAE offers to help entrepreneurs go global. Read more
Saudi Ceramic Company is mulling plans to set up a new porcelain factory, a total investment of 49.3 million riyals ($66.5 million), the company has announced according to reports. The future new facility will produce 8.25 million square meters of Read more
Egypt has awarded Canadian mining company Barrick 4 gold exploration contracts for a total investment of $8.8 million, reports say. Per the tender launched by the Oil ministry, Barrick will search for gold in 19 blocks in the Eastern Desert. Read more
The UAE’s holdings of the US treasury bonds rose by over 31% or $13.6 billion in May to stand at $57.3 billion compared to $43.7 billion in April 2021, Zawya reports citing official data. With the 31 per cent increase, Read more
Abu Dhabi’s Mubadala Investment Company, one of the investment fund of the UAE, announced Sunday it has invested $497 million into UK-headquartered IVC Evidensia, Europe’s largest veterinary care provider. The sovereign fund in a statement indicated that the investment aligns Read more