The Briefing

Weekly business & investment updates curated for you.

Erbil Rotana

Robust Investment Ties Between Russia & Iran — Russian Energy Minister Alexander Novak visited Tehran to discuss bilateral cooperation in the oil sector, as well as the issues of power plant construction and electricity transition and distribution. Russia and Iran plan to invest upward to $40 billion in joint mid-term projects, Russian Energy Minister Alexander Novak said.

Mozambique oil and gas deals hit $31b — The chairperson of Mozambique’s National Hydrocarbon Company, Omar Mitha has said total projected investment in natural gas operations in the Rovuma Basin, in the northern province of Cabo Delgado, now stands at $31 billion.

Iran to boost South Pars gas output — Iran plans to start producing gas and condensate at Phases 17 and 18 of the South Pars offshore deposit by late March. The two new South Pars phases will produce a combined 50 million cubic meters a day of gas and 80,000 barrels a day of condensate.

Top projects to boost investments in Malaysia — The government will implement nine projects and initiatives in 2016 to boost domestic investments which are projected to contribute 26.7% to the GDP.

Malaysia GDP to grow 5.5% to 6% next year — The Malaysian Institute of Economic Research (Mier) has maintained its forecast for Malaysia’s gross domestic product growth this year at 4.9%, but projected the figure to improve to between 5.5% and 6% in 2016.

Tiger Resources' Congo copper mine gets $160 mn investment — The International Finance Corporation (IFC) and Australian-based fund manager Taurus Mining have agreed to invest $162.5 million in one of Democratic Republic of Congo's largest copper mines.

Israeli Health Tech Is Heating Up With A Wave Of Interest From Abroad — According to a 2015 report by Israel Advanced Technology Industries, Israeli life sciences companies raised more than $1.4 billion on the NASDAQ in 2014.

Naspers Takes Control of Russia's Avito in $1.2 Billion Purchase — Naspers Ltd. agreed to buy a majority stake in Russia’s largest classifieds site Avito for $1.2 billion as Africa’s biggest company increases its exposure to the country’s online-retail market even as the economy remains in turmoil.

The Briefing

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