The Briefing

Weekly business & investment updates curated for you.

Erbil Rotana

Egypt — The Cairo-based Arab Women Investors Union (AWIU) is planning to facilitate investment of nearly $900 million in healthcare projects in Egypt.

Germany — Germany attracted a record $6.96 billion in foreign investment in 2015 as the number of new investors reached an all-time high, largely because of growing interest from China.

Iran — The U.S. and its European partners made a fresh appeal for European banks and businesses to invest in Iran.

Jordan — Jordan has attracted solar and wind energy projects worth $1.6 billion at a total capacity of 1,000 megawatts (MW), of which 500 MW will be connected to the grid by the end of this year.

Kazakhstan — Foreign direct investment (FDI) increased 30 percent in 2015 in Kazakhstan’s agricultural industry and 80 percent in the country’s petroleum products sector.

Kuwait — The Middle East’s second-richest nation is responding to the crisis by “spending as much as possible” to bolster economic growth. Anas Al-Saleh, Kuwait’s deputy premier, said that the government isn’t canceling any projects. At the same time, authorities are cutting wasteful spending to plug a budget deficit that could exceed 13 percent of gross domestic product in 2016, according to International Monetary Fund estimates.

Morocco — Foreign direct investments (FDI) in Morocco as of April 2016 declined 27.7 percent compared to April 2015, according to figures from the Foreign Exchange Office.

Qatar — Qatar’s sovereign wealth fund is undergoing its biggest overhaul since 2014, grouping $100 billion of investments in local companies into a new unit and abandoning the Qatar Holding name synonymous with its highest-profile deals.

Saudi Arabia — The IMF signalled its approval of Saudi Arabia’s Vis­ion 2030 plan, while it re­minded the country to press ahead with public spending cuts and budget procedure reforms in a bid to close its widening spending deficit.

Tanzania — Tanzania plans to start building a $3 billion fertiliser factory in partnership with a consortium of investors from Germany, Denmark and Pakistan this year.

Turkey — Turkish companies made $5.2 billion in greenfield investments and realized $10 billion in mergers and acquisitions (M&As) in foreign countries in 2014 and 2015, totaling more than $15 billion foreign direct investments abroad.

UAE— The UAE has improved its ranking as the most preferred residence destination in the Middle East region for investors seeking to participate in "residence-by-investment" programme.

The Briefing

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