The Briefing

Weekly business & investment updates curated for you.

Erbil Rotana

Abu Dhabi — Masdar will be looking to invest in new projects in Morocco, Egypt and Jordan in the coming years as the demand for clean energy goes up in the region.

China — As one of the world’s largest energy consumers, renewable energy investment in China could reach $145 billion per year to 2030, or $2.2 trillion in total, according to a recent report by the International Renewable Energy Association (IRENA).

Djibouti — IMF: GDP growth is expected to rise from 6 percent in 2014 to about 6.5 percent in 2015–16 and to 7 percent in 2017–19.

Dominican Republic — The economy grew 7 percent in 2015 and established itself as the most robust in the Latin American and Caribbean region. The country's foreign exchange earnings from tourism, remittances, foreign investment and exports of goods and services exceeded $23 billion, or 35 percent of the total GDP.

Dubai — The floodgates for private investment in Dubai’s renewable energy sector will open this year as the Dubai Electricity and Water Authority looks to private companies to pick up a tab worth billions as budgets tighten amid low oil prices. Dewa announced it would tender renewable energy projects worth more than Dh27 billion based on an independent power producer (IPP) model.

Kurdistan Region — Authorities in Iraq’s cash-strapped Kurdish Region will withhold delivery of oil to the central government and export crude independently in 2016 to ensure revenue amid a global price slump. If the KRG delivers to Baghdad the agreed quantity of 550,000 barrels a day, Baghdad will not be able to pay the KRG its share of the budget -- which is about $1 billion a month. So, the KRG studied the situation and decided to export oil on its own.

Malaysia — Malaysia’s biggest electricity company plans to breathe some life into the global Islamic bond market with a $3 billion issuance program after offerings slumped to a five-year low in 2015.

Oil & Gas — With crude prices at 11-year lows, the world's biggest oil and gas producers are facing their longest period of investment cuts in decades. Global oil and gas investments are expected to fall to their lowest in six years in 2016 to $522 billion , following a 22 percent fall to $595 billion in 2015.

Oman — Oman is planning a $1.3 billion waterfront development around Port Sultan Qaboos in the capital Muscat that will be paid for by investment from the private sector.

Oman — Mitsui and Co. Ltd. of Japan announced that it joined with Saudi Arabia's ACWA Power and Dhofar International Development and Investment Holding Co. to submit a winning $2.3 billion bid for the contract on two new energy plants in Oman.

Philippines — Investments approved by the Philippine Board of Investments reached P366.74 billion in 2015, up by 3% from the P354.76 billion posted in 2014. The aggregated investment approvals were generated from 358 projects. BOI expects a total of 58,252 new jobs when these investments become fully operational.*

Saudi Arabia — The Public Investment Fund of Saudi Arabia has agreed to begin examining several investment opportunities in Egypt. The Saudi investment is planing to invest $8 billion in the fields of housing, tourism, agriculture, and energy over the next five years.

Saudi Arabia — State oil giant Saudi Aramco confirmed that it has been studying various options to list in capital markets. Aramco is the world's largest oil firm with crude reserves of about 265 billion barrels, over 15 percent of all global oil deposits. If it went public, it could become the first listed company valued at $1 trillion or more.

Tech — Nokia is entering the new year with a bang, announcing a move that will see it become one of the largest broadband equipment providers in the world. The company has announced that it has gained control of Alcatel-Lucent, a French telecom firm, with the $17 billion, deal being approved by the French stock market regulators.

Tech — Netflix went live in 130 new countries , a significant expansion of the online video service's reach that cheered up investors. Among the countries getting Netflix for the first time: Azerbaijan, Vietnam, India, Saudi Arabia, Singapore, Turkey, and Indonesia.

Turkey — Having ended 2015 with record highs in production, domestic markets, exports, imports and employment, Turkey's automotive sector is poised to make a great move in 2016 with the production of the domestic car. The world's five automotive giants will launch the new models that they are set to produce in Turkey with nearly $1.2 billion in investments in 2016.

The Briefing

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