The Briefing

Weekly business & investment updates curated for you.

Erbil Rotana

Asia FDI — Nearly a third of the record-setting $1.76 trillion in global foreign direct investment (FDI) in 2015 flowed into Asia, making it the top FDI destination in the world, according to a recent report from the Asian Development Bank. FDI inflows to Asia hit $527 billion, an increase of 9 percent from $484 billion in 2014. Hong Kong toppled mainland China as the largest recipient with inflows of $175 billion, while China was next at $136 billion. These two economies were followed by Singapore and India.

China — China attracted $106.0 billion of foreign direct investment in the first 11 months of the year, up 3.9% from a year ago in yuan terms, the official Xinhua News Agency reported, citing the commerce ministry. The growth was slower than the 4.2% year-over-year increase in the first 10 months of 2016, Xinhua said.

Egypt — Egypt’s long-term trade prospects are expected to grow in terms of potential infrastructure developments and foreign investment from Asia, mainly China, the latest Global Trade Forecast released by HSBC. The report also stated that Egypt's foreign investments from the Middle East will remain a key investor and destination for Egyptian exports in the long term.

Ethiopia — Foreign investment in Ethiopia is stalling after a series of demonstrations against international companies. Investment was about $500 million in the three months ended October 10 compared with the same period a year earlier, according to Investment Commissioner Fitsum Arega. Foreign investment had gained 20 percent a year on average for the past six years, including a 50 percent jump last year.

Iran — Iran Air finalised a contract to buy 80 planes from US firm Boeing, as it seeks to renew its ageing fleet despite sanctions. It is reported that the contract was worth $16.6 billion.

Malaysia — Malaysia recorded investments totaling RM150.8 billion in the manufacturing, services and primary sectors for the first nine months of 2016. Although the number of projects dropped 3.7% from RM156.6 billion in the same period last year, it will create 117,550 job opportunities.

Nigeria — Nigeria cut its 2017 growth forecast by half a percentage point as the ongoing economic slump slows output, the Budget and National Planning Minister Udo Udoma said. West Africa’s biggest economy will probably grow by 2.5 percent compared with an earlier projection of 3.02 percent.

Ras Al Khaimah, UAE — A stable ‘A’ rating from Fitch and Standard & Poor’s, low debt, political and social stability, a high ranking on the World Bank’s ease of business, and strong macroeconomic fundamentals are the ingredients Ras Al Khaimah hopes will attract investors.

UAE — Driven by the growth in the fixed and mobile data segments as 4G network coverage expands and appetite for faster speeds and additional content increases, the telecommunications market in the UAE will grow at a compound annual rate of 3.7 percent over 2016-21, a market survey said.

The Briefing

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