The Briefing

Weekly business & investment updates curated for you.

Erbil Rotana

China — China’s credit rating has been downgraded by Moody’s for the first time in almost 30 years over fears that slowing growth and rising debts will weaken the world’s second largest economy.

Japan — The world's largest private equity fund, backed by Japan's Softbank Group and Saudi Arabia's main sovereign wealth fund, announced that it had raised over $93 billion to invest in technology sectors such as artificial intelligence and robotics.

Kuwait — Moody's Investors Service has changed the rating outlook on the Government of Kuwait to stable from negative. Concurrently, the long-term issuer rating has been affirmed at Aa2.

Qatar — Foreign investments into Qatar grew by a robust 11% year-on-year to QR537.3 billionwith foreign direct investments alone accounting for about one-fourth of them, according to the Ministry of Development Planning and Statistics.

Saudi Arabia — Saudi Aramco plans to spend $18 billion in the next five yearsto expand its operations in the Americas, focusing on its U.S. oil refining subsidiary Motiva Enterprises. Motiva called the $18 billion estimate "a general framework of opportunities" to increase refining capacity, branch into chemicals, and expand its commercial operations, marketing and branded presence in the next five years.

UAE — Abu Dhabi is showing signs of an economic recovery driven by government spending, a top government official said, adding that investment inflows had increased last year. Foreign direct investment in Abu Dhabi grew 8% to Dh95 billion in 2016, largely due to real estate investment inflows.

The Briefing

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