The Briefing

Weekly business & investment updates curated for you.

Erbil Rotana

Bahrain — Bahrain to showcase its expanding hotel and tourism infrastructure with an active hotel pipeline of 13 properties, 3,000 hotel rooms and with tourism expected to contribute $1 billion by the end of the decade.

China — Chinese investors invested $1.03 trillion in foreign property, stocks and bonds in the decade to mid-2015, British property services firm Knight Frank calculates in its annual Wealth Report released.

Costa Rica — Ratings agency S&P lowered Costa Rica's long-term rating to 'BB-' from 'BB' with a negative outlook. Costa Rica's fiscal deficit will surpass in 7% of GDP in 2017 and bring the general government debt above 45% of GDP, with interest payments representing 13% of government revenues.

Egypt — Egypt hopes to attract investment of $24 billion in the planned power projects that aim to resolve frequent electricity shortages and support economic development in the Arab world's most populous country.

Finland — Finland will provide $88 million in aid to biofuel and new energy technology projects to meet its climate goals by 2030.

GCC — Low oil prices will continue to weigh heavily on the Gulf Cooperation Council economies with the average weighted real non-oil GDP growth moderating to 2.2 per cent in 2016, down from 4.1 per cent in 2015, according to the latest economic forecast from Abu Dhabi Commercial Bank.

Japan — Capital spending by Japanese firms climbed 8.5 percent in the October to December period in 2015, but the pace slowed from an 11.2 percent rise in the previous quarter amid an uncertain global economic outlook.

Kazakhstan — Foreign direct investment in oil and gas production in Kazakhstan in January-September 2015 fell by 72.7 percent standing at $1.9 billion versus the same period of 2014.

India — The International Monetary Fund has projected a robust growth rate of 7.3 per cent for the country this fiscal, picking up to 7.5 per cent in 2016.

Iran — Iran’s 2025 strategic economic plan aimed at doubling the economy from the current $415 billion in the next decade necessitates investments to the tune of $1.5 trillion.

Iran — Tehran is looking for $6-7 billion from international investors to complete the construction of Iran LNG. Around 40% of the project was built while Iran was under international sanctions. Investors would receive an 80% stake in the project in return for financing the remaining construction work.

Malawi — China’s Bishui Investments, has transferred almost $6 billion worth of investment for a world class new airport in Lilongwe to Mongolia due to the Malawian government’s apparent delays to provide land for the project.

Mexico — The Mexican private sector is planning to invest $11.1 billion to continue the construction of certain infrastructure projects, since there is currently less public money available due to budget cuts.

Pakistan — China Mobile Pakistan (Zong) Deputy Chief Executive Officer Niaz A Malik reiterated the company’s commitment to the Pakistani market and announced that the mobile operator would be investing close to $300 to $400 million during 2016.

Russia — Russian state gas giant Gazprom has secured a $2.17 billion loan from Bank of China, the largest single-bank credit in the Russian company’s history and a sign of how Western sanctions are increasing Russia’s economic reliance on China.

Saudi Arabia — The Saudi Commission for Tourism and National Heritage has announced that 66 islands are now ready for investment.

South Africa — The head of Liberty Holdings, South Africa's fourth-biggest insurer, urged local companies on Friday to invest at home to help the economy grow faster and stave off a sovereign credit rating downgrade.

Turkey — Fitch Ratings affirmed Turkey's sovereign rating at BBB-, the lowest investment grade rating, with a stable outlook, noting that fiscal discipline remained in place in 2015 despite two parliamentary elections.

The Briefing

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