The Briefing

Weekly business & investment updates curated for you.

Erbil Rotana

China — China’s infrastructure investors have had a tough two weeks, with plugs being pulled on at least $15 billion of potential deals in nuclear power and electricity distribution.

Egypt — The International Monetary Fund has agreed in principle to grant Egypt a $12 billion three-year loan facility, to support a government reform program aimed at plugging a budget gap and rebalancing the currency markets.

India — By 2030, the economies of top five Indian cities will each grow to equal the current sizes of middle-income economies, a report by the McKinsey Global Institute says. 

Iran — Iran has devised worth $30 billion plans for developing its power infrastructure in the following five years, which include building power plants, repairing and upgrading current ones, as well as developing and making the power grid smart.

Iraq — Iraq has reached agreement with BP, Shell and Lukoil to restart stalled investment in oilfields the firms are developing, allowing projects that were halted this year to resume and crude production to increase in 2017.

Kazakhstan — The Ministry of Investment and Development of Kazakhstan expects the level of foreign direct investments in the Kazakh economy recover up to $8 billion-$9 billion by the end of this year. 

Nigeria — Nigeria's investment conglomerate Transnational Corp. has shelved plans to build a $1 billion gas-fired power plant blaming fuel shortages and a lack of finance caused by the country's economic downturn.

Oman — Despite the challenges facing the economy, the banking sector remained resilient supporting economic diversification initiatives and credit needs. 

Saudi Arabia — Saudi Arabia will ease restrictions on foreign investment in its securities markets next month, sooner than previously indicated, in an effort to attract more institutional money into its bourse. 

Turkey — Russia's multi-billion dollar sovereign wealth fund has announced it is ready to take part in a Turkish-Russian joint investment fund

UAE — The UAE has maintained its position as a top investment destination for citizens of the Gulf Cooperation Council (GCC), with 1,899 new licences granted to GCC citizens to practice economic activities during 2015, leading to a total of 19,803 licences by the end of 2015.

Vietnam — Vietnamese stocks headed for their best week in 13 months after the country’s largest listed company was added to an MSCI Inc. index and as a recovery in oil prices buoyed demand for riskier assets.

The Briefing

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

Thanks! You are signed up to our briefing updates.