The Briefing

Weekly business & investment updates curated for you.

Erbil Rotana

India — The Indian government and three state-run firms will jointly set up an equity fund of up to $2 billion for renewable energy companies to tap into to help New Delhi meet its clean energy goals.

Kazakhstan — Gross inflows of foreign direct investment grew in Kazakhstan in the first half of 2016. Direct investment hit $9.3 billionin this period which is 25.8 percent more compared to the same period of 2015.

Mexico — BP has approved a $9 billion investment in its Mad Dog project in the Gulf of Mexico, its first major new platform in the region since a 2010 explosion at its Macondo well led to the worst offshore disaster in U.S. history.

Morocco — Morocco signed an agreement to invest over $2 billion in Ethiopia over a five-year period to build a fertiliser factory.

Mozambique — Mozambique's National Petroleum expects to sign new oil and gas prospecting contractsby early next year with the companies awarded rights to test for hydrocarbons across the country.

Nigeria — The country needs at least $14 billion a year in new investment over the next five years to raise oil output to 2.2 million barrels a day and even higher spending to lift it to 3 million bpd.

Oman — The latest official figures show that Iran’s exports to Oman increased by about 400% after the removal of sanctions in January in what could be a strong indication that the Sultanate is already replacing the UAE as Iran’s the most important regional trade partner.

Saudi Arabia — Arid could need more than $53 billion in water sector investment supported by private funds as demand grows.

Tunisia — The country received nearly $15 billion in pledges of investmentand financial support at an international conference aimed at energising its fragile economy.

UAE — The country seeks to attract more than $70 billion in industrial investments by 2025. The investments will help increase the share of the industrial sector in the country’s GDP to 25 percent, up from the current 16 percent, and ensuring the industrial sector will become the driving force in the country’s economic growth.

The Briefing

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

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