The Briefing

Weekly business & investment updates curated for you.

Erbil Rotana

Abu Dhabi — National Bank of Abu Dhabi PJSC and First Gulf Bank PJSC are exploring a potential merger to create the largest lender in the Middle East

Dubai — Al Ashram Investments has signed a partnership agreement with logistics giant Aramex to build-and-leaseback its new express courier facility in Dubai.

Egypt — BP has approved investment in the first phase of developing the large Atoll gas field offshore Egypt. BP set to pump 300 million cubic feet a day of gas to the Egyptian market.

IranIran’s biggest non-oil sector car industry looks like slipping into recession recently. The situation got even worse with the disagreement between auto-parts makers and carmakers of the country. 

Kuwait — An investment group led by prominent Dubai businessman Mohamed Alabbar has agreed to buy a majority stake in Kuwait Food Co from the Kharafis, a wealthy Kuwaiti merchant family, for about $2.4 billion.

Qatar — The cabinet has approved a draft law setting out regulations for special economic zones aimed at attracting inward investment in Qatar.

Saudi Arabia — Saudi Arabia's cabinet approved a tax on undeveloped urban land and rules allowing foreign investors to own 100 percent of retail and wholesale businesses

Turkey — As global private infrastructure investment in 2015 mostly remained steady at $111.6 billion, Turkey raised the bar with the financial closure of seven projects for a record $44.7 billion.

The Briefing

Weekly curated news, tips & opportunities for the global business community

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