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Italy and the UAE are partnering to develop a major AI centre in Italy

Italy and UAE announce deal on AI centre

Italy and the United Arab Emirates have agreed to develop an artificial intelligence centre in Italy, industry minister Adolfo Urso said on Friday. Abu Dhabi-based AI group G42 has entered into a partnership with Italian company iGenius to build “the largest AI computing infrastructure in Europe”, Urso’s ministry said in a statement. G42 will be […]

The European Commission headquarters in Brussels. Adnoc will need to meet EC rules for its purchase of Covestro

Adnoc seeks EU approval for Covestro deal

Abu Dhabi state oil company Adnoc on Thursday sought EU approval under the bloc’s foreign subsidies rules for its €14.7 billion ($16.4 billion) acquisition of German chemicals company Covestro, according to a filing on the European Commission site. Adnoc, which last week won the green light under EU merger rules for the deal, is making its biggest […]

Russian President Vladimir Putin welcomes Egyptian President Abdel Fattah El-Sisi during their meeting in Moscow on May 9

Egypt and Russia increase trade after record 2024

Trade between Russia and Egypt rose sharply in the first two months of 2025 after setting a new record in 2024. “Last year bilateral trade turnover increased by more than 30 percent, reaching $9 billion,” state-run TASS news agency reported quoting Russian president Vladimir Putin speaking at a meeting with Egyptian President Abdel Fattah El-Sisi. […]

A Covestro laboratory. The EU competition watchdog is scheduled to decide on Adnoc's takeover of the German company by May 12

Adnoc expects EU approval for Covestro deal

Abu Dhabi state oil major Adnoc is set to secure unconditional European Union (EU) antitrust approval for its €14.7 billion ($16.6 billion) takeover of German chemicals company Covestro, two people with direct knowledge of the matter said. The deal, Adnoc’s biggest ever, underscores Middle East countries’ plans to diversify their investments and reduce dependence on oil amid the global transition […]

With Prime Minister's Mohammed Shia Al-Sudani's backing, Iraq's Presidential Palace leads the way in the country's shift to solar power

Iraq to use solar to power presidential palace

Iraq will install solar panels at the presidential palace in Baghdad as the first stage in a plan to switch nearly 6,000 public buildings to renewable power, according to officials. The project is intended to ease reliance on conventional electricity, protect the environment and tackle a power supply gap caused by gas shortages and the […]

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Masdar delists Terna Energy to spur European expansion

Abu Dhabi’s Masdar said its Greek clean energy subsidiary Terna Energy has been delisted from the Athens stock exchange. The UAE renewables major completed the acquisition of 100 percent of Terna Energy last month to accelerate renewable energy growth in southeastern and central Europe, the UAE state-run Wam news agency reported. Sultan Al Jaber, chairman of […]

Karim Zidane, Morocco’s minister of investment, said the country 'offers incentives that can reach up to 30 percent of the total investment amount'

Tax incentives for Morocco stadium construction bids

Morocco is offering tax incentives of up to 30 percent, as it looks to attract private sector partners for large scale projects such as the infrastructure needed ahead of its co-hosting of the World Cup in 2030. “Morocco offers incentives that can reach up to 30 percent of the total investment amount,” Karim Zidane, Morocco’s […]

TotalEnergies and Oman are collaborating on a groundbreaking LNG project

Oman launches LNG project for clean marine fuel

Oman has begun construction of a liquefied natural gas (LNG) project in the northern port of Sohar, which its sponsors say is one of the lowest emission plants in the world. TotalEnergies of France holds an 80 percent stake in the $1.6 billion Marsa scheme while OQ Exploration & Production has the remaining 20 percent, […]

Greece aims to attract more visitors throughout the year, signing a deal with Emirates that includes a codeshare with Aegean Airlines to expand travel options

Emirates signs agreement with Greek air carrier Aegean

Greece has signed an outline deal with Dubai’s Emirates that includes a codeshare agreement with Greek air carrier Aegean, the country’s Tourism Ministry said on Friday, as it seeks to attract more tourists all year round. The codeshare agreement will expand travellers’ access to popular destinations, including the islands of Santorini, Mykonos and Rhodes, the […]

UK prime minister Keir Starmer is greeted by Crown Prince Mohammed bin Salman during a visit to Riyadh in December. The UK government says UK-GCC trade talks are continuing 'at pace'

UK urged to seek standalone trade deals with Gulf states

Trade experts, including a former UK government senior advisor, are questioning why talks between the UK and GCC to secure a free trade agreement are taking so long. Many recommend that London pursue bilateral deals with Gulf countries if and when a wider GCC deal is signed. “[The negotiations] have been going on for yonks […]

As part of the Lunate deal, Azura will relocate its headquarters from Monaco to Abu Dhabi

Wealth company Azura to leave Monaco for Abu Dhabi

Lunate, an Abu Dhabi-based alternative asset manager, has acquired a stake in Azura Partners, a wealth management firm in Monaco. Azura, started by former Julius Baer executive Ali Jamal, manages assets of around $5 billion and serves high-net-worth and ultra-high-net-worth clients.  As part of the deal, Azura will relocate its headquarters from Monaco to Abu […]

NOS headquarters, Lisbon. While increasing its European tech and telecom investments elsewhere, Mubadala has decreased its shareholding in the Portuguese operator

Mubadala trims stake in Portuguese telco

Mubadala Investment Company, Abu Dhabi’s $300 billion sovereign wealth fund, has trimmed its holding in Portuguese telecoms operator NOS SGPS. ATIC Second International Investment, a Mubadala subsidiary, reduced its stake from 5 percent to 3.2 percent, according to a regulatory filing by NOS to the Portuguese Securities Market Commission. No reason was given for the […]

Zach Witkoff was on a panel with Eric Trump at the Token2049 crypto event taking place in Dubai

Abu Dhabi’s MGX to use Trump stablecoin for Binance deal

A stablecoin linked with President Donald Trump will be used by Abu Dhabi’s MGX as part of the technology company’s $2 billion investment in Binance, the world’s largest cryptocurrency exchange, it was announced on Thursday. MGX announced a minority investment in Binance in March.  Zach Witkoff, co-founder of World Liberty Financial, a cryptocurrency holding company […]

Amira Sajwani, managing director of sales and development of DAMAC Properties with Jason Gannon, president and COO of Chelsea Football Club

Dubai scores football-themed homes in Chelsea Residences

Chelsea fans finally have something to celebrate: Dubai’s first football-themed development will wear the blue of the famous west London club. As part of a new partnership between Chelsea FC and Damac Properties, the Dubai-based property developer will build a Chelsea-themed real estate project in the emirate. Chelsea Residences “will be built with Chelsea Football […]

Calo seeks to differentiate itself by using AI to offer customised meal subscriptions

Bahrain’s Calo acquires UK meal delivery brands

Calo, a Bahraini foodtech startup, is making its first foray outside of the Gulf by expanding into the UK. The company, which was founded in Bahrain but now has its headquarters in Saudi Arabia, is acquiring UK-based meal delivery brands Fresh Fitness Food and Detox Kitchen in the expansion. Caspar Rose, the former head of […]

Air cargo demand in the Middle East saw a March decline, down 3.2 percent year on year. A contrast to last year's surge caused by Red Sea shipping disruptions

European slump hits Middle East air cargo demand

Demand for air cargo in the Middle East declined year on year in March, bucking a global growth trend, with the region’s European trade route the hardest hit. New monthly data from industry trade body the International Air Transport Association (IATA), showed that total global demand, measured in cargo tonne-kilometres (CTK), rose 4.4 percent year […]

The Willis Building, centre, was designed by architect Norman Foster and was one of the tallest towers in the area when it was built in 2008

Kuwait wealth fund sues over London tower project

Kuwait Investment Authority, the world’s fifth-biggest sovereign wealth fund, is suing global investment company Axa Investment Managers in connection with a planned tower in London’s financial district that risks blocking light to a KIA building. St Martins Property, the investment authority’s property development unit, is suing Hygie, a special purpose vehicle controlled by Axa Investment […]

Syria's infrastructure and economy was devastated through civil war

UK lifts sanctions on Syria

Britain said on Thursday it would support efforts to rebuild Syria’s financial system by removing sanctions to encourage investments in financial services, energy production and other sectors. London also lifted asset freezes on Syria’s Defence and Interior Ministries and a range of intelligence agencies, reversing penalties imposed during Bashar al-Assad’s presidency. The West is rethinking […]

Saudia will buy up to 20 A330 aircraft from Airbus

Saudia signs Airbus deal for up to 20 wide-body aircraft

Saudia, Saudi Arabia’s national airline, has finalised a new agreement with European manufacturer Airbus to buy up to 20 new wide-body A330neo aircraft. Of these, 10 are firm orders for Flyadeal, the group’s budget airline, the carrier said in a statement. The delivery of these aircraft is set to start in 2027, with the last […]

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