Meena - Business News - December 18, 2024 - Vol (80)
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IRAQ:
Iraq Signs Investment Protection Agreement with Saudi Arabia
Iraq's National Investment Commission (NIC) Chairman, Dr. Haider Mohammed Makiyya, announced the signing of the Investment Protection and Promotion Agreement with Saudi Arabia. This agreement aims to create a secure environment for Saudi investors in Iraq, supported by legal guarantees and diverse investment opportunities. The initiative underscores Iraq's commitment to attracting foreign investments through regulatory reforms.
U.S. State Department Releases 2024 Investment Climate Statement for Iraq
The U.S. State Department issued its 2024 Investment Climate Statement for Iraq, highlighting the country's openness to foreign investment and ongoing efforts to improve the business environment. The report covers key areas such as the legal regime, protection of property rights, and the financial sector, providing valuable insights for potential investors.
Kindly review this list of fairs and exhibitions. Schedule appointments and promote your business effectively.
KINGDOM of SAUDI ARABIA
Saudi Public Investment Fund Nears $1.5 Billion Stake in PGA Tour Enterprises
Saudi Arabia's Public Investment Fund (PIF) is reportedly close to finalizing a $1.5 billion investment for a minority stake in PGA Tour Enterprises, the commercial arm of the PGA Tour. This move highlights Saudi Arabia's strategic interest in the global sports industry and its commitment to diversifying its investment portfolio, offering avenues for international partnerships and investments.
Trump Organization Expands Presence in Saudi Arabia
The Trump Organization is set to broaden its real estate ventures in the Gulf region by planning a new Trump Tower in Riyadh. This initiative is in collaboration with Dubai-based developer Dar Global, following the successful launch of a Trump Tower in Jeddah. The expansion underscores the growing interest in luxury real estate projects within Saudi Arabia, presenting potential investment opportunities for international stakeholders.
Kindly review this list of fairs and exhibitions. Schedule appointments and promote your business effectively.
UNITED ARAB EMIRATES:
ADNOC's New Investment Arm XRG Appoints High-Profile Board Members
The UAE President has approved the board of directors for ADNOC's new international investment arm, XRG, valued at over $80 billion. The board includes prominent figures such as Jon Gray from Blackstone, former BP CEO Bernard Looney, and Egyptian billionaire Nassef Sawiris. XRG aims to focus on lower-carbon energy and chemicals, signaling ADNOC's strategic expansion into sustainable energy sectors.
Dubai's Stock Market Reaches Decade-High Amidst Robust Real Estate and Finance Sectors
Dubai's benchmark share index has surged to its highest level in over a decade, driven by strong performances from companies like Emaar Properties. Emaar's shares rose by 15% after announcing plans for significant future dividend payments. This growth reflects the city's thriving real estate and finance sectors, presenting attractive investment opportunities.
Kindly review this list of fairs and exhibitions. Schedule appointments and promote your business effectively.
QATAR:
Qatar's $500 Billion Sovereign Wealth Fund Targets Larger Deals
The Qatar Investment Authority (QIA), with assets exceeding $500 billion, is adopting a more aggressive investment strategy to capitalize on the anticipated increase in revenues from the nation's liquefied natural gas (LNG) expansion. Under the leadership of newly appointed CEO Mohammed Al-Sowaidi, the QIA aims to engage in larger and more frequent deals, focusing on sectors such as technology, artificial intelligence, healthcare, real estate, and infrastructure. This strategic shift is driven by the expected doubling of Qatar's LNG production capacity by 2027, which is set to significantly boost the nation's GDP and export receipts. The QIA is also expanding its workforce and considering new offices in the US and Singapore to enhance its global investment footprint.
Kindly review this list of fairs and exhibitions. Schedule appointments and promote your business effectively.
PAKISTAN:
Pakistan's Central Bank Cuts Key Policy Rate by 200 Basis Points
On December 16, 2024, the State Bank of Pakistan reduced its key policy rate by 200 basis points to 13%, marking the fifth consecutive cut since June. This decision aims to stimulate economic growth amidst easing inflation. The cumulative rate cuts in 2024 amount to 900 basis points, which is substantial compared to the 625 basis points cut in 2020 during the pandemic. The central bank's monetary policy committee aims to manage inflationary pressures and support sustainable economic growth. The bank's inflation forecast for 2025 is significantly lower than previously expected, but notes risks such as government revenue measures, food inflation, and global commodity prices. Despite recent reductions, inflation volatility is anticipated in the near term.
Haleon Pakistan to Manufacture Centrum Multivitamins
Haleon Pakistan announced plans to start manufacturing Centrum multivitamins for domestic sales and export. This initiative aims to boost the company's market presence amid lower inflation. The initial stage of the Centrum launch in early 2025 will involve imports, followed by local production for domestic and export markets. The company aims to increase export sales from 5%-6% in 2022 to at least 10% in the next two years, supported by a $10 million investment to enhance local production capabilities.
Kindly review this list of fairs and exhibitions. Schedule appointments and promote your business effectively.
Meena - Business News delivers timely updates on investments, business trends, tender information, fair listings, and risk analysis in IRAQ, KSA, UAE, QATAR, and Pakistan.
We emphasize the abundant opportunities available and stand ready to support your business development endeavors in these potential countries.
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December 18, 2024