Dubai Exports, Business France sign MoU

Tradearabia, February 22 2016

Dubai Exports, an agency of the Dubai Department of Economic Development, has signed a MoU with Business France, the national agency supporting the international development of the French economy, to establish a framework of cooperation in order to develop and strengthen links in the field of trade promotion between Dubai & France. Both will form a team to manage their upcoming joint projects, such as improve joint trade events and activities participation.

Iran Invites Indian Investment in Projects Worth $8 Billion

Iran invites Indian investment in projects worth $8 billion, offers stake in Imam Khomeini Airport

ET, Feb 17,’16

Iran has invited India to invest in infrastructure projects worth $8 billion following the lifting of the sanctions imposed by the West and offered the country a stake in expansion of the second phase of Tehran’s Imam Khomeini international airport. Besides, the Persian Gulf country has invited India to invest in the 220-km rail link between Rash and Astara in northwestern Iran which will complete the International North South Transport Corridor and make it operational by linking Iran with Central Asia and Eurasia. Iran has also invited India to construct a rail link between Masad in northeastern Iran and Herat in Afghanistan.

Adia Acquires 36 Percent Stake in Peruvian Company

Gulfnews, Feb 16 2016

Abu Dhabi Investment Authority acquired stake in Fenix Power Peru

Abu Dhabi Investment Authority (Adia), has acquired a 36 % stake in Fenix Power Peru, a Thermoelectric power generation company in Lima. Peru has received up to $1.7 billion in investments from the UAE since 2010, making Peru the second biggest investment destination in Latin America.

BP Expands Scope Of Natural Gas Project In Oman

BP expands Scope Of $16B Natural Gas Project in Oman


BP Plc and Oman Oil Co. has agreed to expand an exploration and production sharing agreement of the Khazzan natural gas field to include a second development phase, at an estimated cost of $16 billion for the entire project. BP Plc has said that Block 61 will add 1,000 square kilometers (386.1 square miles) to the original 2,700 square kilometer area of development. The project will produce 1.5 billion cubic feet of gas per day, or 40 percent of Oman’s current output. The first phase of the project is expected to deliver gas in 2017 and the second will start in 2020.

Protea Hotels Expands With New Development in Centurion

Protea Hotels has announced plans for the construction of a New Hotel with Extensive Conferencing Amenities in the area. According to the chief operating officer, Middle East & Africa, of Marriott International, Mark Satterfield, and Centurion continues to develop as a significant business and government hub in South Africa.