The Briefing

Weekly business & investment updates curated for you.

Erbil Rotana

Samsung Electronics unveils $9.9 billion buyback — Tech giant Samsung Electronics unveiled a 11.3 trillion won ($9.9 billion) share buyback after reporting its first on-year profit growth in two years thanks to strong component sales, pushing its shares sharply higher.

Tehran Stock Exchange, Borsa Istanbul ink deal — The Tehran Stock Exchange and the Borsa Istanbul signed a deal to facilitate the opening of foreign markets. The deal includes the trading products on both stock markets, including investment funds.

Dubai Investments to seek new investments — Dubai Investments expects full-year net profit to drop 9 per cent because of a one-off gain recorded last year. Profit is now expected to come in at Dh1.2 billion compared with Dh1.32bn last year. The company has Dh3.4bn in cash and quasi-cash which it can use to finance new investments.

India Says Africa Too Is Bright Spot of Economic Opportunity — India's trade with Africa has topped $70 billion and that the continent was a major destination for Indian business investment. India has committed $7.4 billion in concessional credit and $1.2 billion in grants since the first India-Africa Summit in 2008.

IMF raises Seychelles GDP growth forecast for 2015 — The International Monetary Fund expects Seychelles' economy to expand by 4.3 percent this year, more than its earlier 3.5 percent forecast, helped by improved tourism sector performance and private sector credit.

Qatar invests in $3.8bn Manhattan West project — Qatar Investment Authority entered into a joint venture with Brookfield Property Partners, buying a 44 percent interest in the mixed use project, which is estimated to be worth $8.6 billion.

Rosneft, Exxon win licensing round in Mozambique — Rosneft and partner ExxonMobil have won the rights for three hydrocarbon blocks in Mozambique, as the African nation aims to join leading global liquefied natural gas exporters.

Iran's Man in New York Is Hunting for Billions of Dollars — Iran, by its own admission, needs $150 billion of investment annually for many years ahead to repair the damage from a decade of isolation.

The Briefing

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

Thanks! You are signed up to our briefing updates.