UAE's ADNOC invests in Mozambique's natural gas in first African foray

The deal will give ADNOC a share of the liquified natural gas output from the concession, which has a combined capacity of over 25 million metric tons per pear, the company said in a statement.

United Arab Emirates

Huawei launches Egypt public cloud service as China ties grow

Last September, Huawei announced that it would pump $430 million into North Africa to build the firm's first cloud center there as well as train thousands of developers and tech specialists.

Egypt

Why UAE’s ADNOC is mulling setting up US trading desk

The UAE state-backed company recently held talks to recruit senior energy traders to oversee the expansion, Reuters reported.

By Jack Dutton

In Bristol, reporting on regional business, climate change, AI, tech

Interview

AI pioneer Schmidhuber bets on Saudi Arabia for trillion-dollar breakthrough

Juergen Schmidhuber, a pioneering AI researcher told Al-Monitor that Gulf players have opportunities to take on traditional tech powerhouses in this high stakes AI race. 

Juergen Schmidhuber

AI computer scientist

Gulf consolidates stature as sovereign wealth hub, lags on per capita holdings

A frenzy of recent initial public offerings has again highlighted Gulf states' statuses as global wealth hubs.

By Sebastian Castelier

In Dubai, reporting on regional business

Turkey expects removal from global money laundering ‘grey list’: VP

The Turkish vice president said that if the watchdog doesn’t remove the country from its grey list, it would be “due to political reasons."

Turkey

UK music festival rocked by boycotts as artists shun Israel

The artists are refusing to play at the Great Escape Festival in Brighton, a seaside resort in South England, over one of the sponsors' ties to Israel.

Israel

Dubai beats Singapore, London as top city for 'greenfield' FDI projects

FDI Markets data, compiled by the Financial Times, found the UAE's financial capital ranked top overall in global "greenfield" FDI projects attracted in 2023.

United Arab Emirates

Saudi Arabia 'conservative' on oil revenue as it pares back Vision 2030 plans

Mohammed Al-Jaadan warned that being a resource-rich country was a curse as well as a blessing because being dependent on one commodity such as oil can hold a country "hostage" to the volatility of global demand and prices.

Saudi Arabia

How Iran could benefit from Chabahar Port deal with India

India has been reluctant to move ahead with its plans for Chabahar due to US sanctions, despite an exemption.

Iran

What does Turkey's three-year austerity plan to curb inflation entail?

The plan is to increase the efficiency of the public sector through cost-cutting measures such as a ban on buying new vehicles for civil servants.

Turkey

Emirates airline reports record $4.7B profit as Gulf competition heats up

The Dubai-based airline has posted strong performance figures in recent months.

United Arab Emirates