Browsing: Business

UAE and India deepen trade, investment and strategic cooperation through high-level talks. The leaders examined cooperation under the UAE-India Comprehensive Economic Partnership Agreement, known as CEPA. They also discussed the enduring political, commercial, cultural, energy, and people-to-people connections linking both nations. Additionally, both parties explored avenues to extend cooperation in areas that now play a central role in bilateral ties. The meeting also addressed mutual interests as the two governments maintained regular engagement across strategic and economic domains. Sheikh Khaled represented the UAE delegation at the BRICS Summit on behalf of UAE President Sheikh Mohamed bin Zayed Al Nahyan. Modi expressed appreciation for the UAE’s participation during India’s 2026 BRICS chairmanship. Both leaders agreed that their countries would persist in working through the group on shared priorities and collaborative efforts. They also recalled Sheikh Mohamed’s visit to India in January 2026 and Modi’s visit to the UAE in May 2026. Focus on expanding investment and strategic industry collaborations The summit underscored a surge in investment activities between the UAE and India. Leaders welcomed the announcement by International Holding Company regarding an $11.5 billion integrated greenfield aluminium project in Odisha, regarded by India as its largest integrated aluminium investment. The discussion also included the role of L’Imad, the UAE’s newest sovereign investment fund, in facilitating bilateral investments and economic cooperation in areas identified by both governments. Opportunities in defence, space, nuclear energy, technology, and innovation were also explored. These sectors

Oman inflation reached 3.4% in August 2026 as transport and food prices increased. Transport experienced the most significant year-on-year increase among the main consumer categories, rising by 8.5% from August 2025. Meanwhile, food and non-alcoholic beverages grew 7%, and miscellaneous personal goods and services increased 6.1%. Prices at restaurants and hotels went up by 3.6%, while furniture, household equipment, and routine maintenance saw a 3.1% rise. Education costs increased by 2.2%, healthcare expenses rose 1.7%, and culture and recreation prices edged higher by 0.4% over the same period. Clothing and footwear prices saw a modest increase of 0.1%, whereas communication and tobacco prices remained steady.

During his visit to Berlin, UAE President Sheikh Mohamed bin Zayed Al Nahyan engaged in discussions with leading German corporate figures to promote stronger cross-border investment and trade cooperation. Emphasizing the UAE’s role as a global logistics hub and its business-friendly regulatory landscape, Sheikh Mohamed encouraged German industrial leaders to increase their footprint in Middle Eastern and international markets. The dialogue highlighted emerging commercial prospects resulting from recent bilateral agreements in manufacturing, renewable energy, and digital technology sectors.

India and Russia committed to boosting bilateral economic ties with a goal of achieving $100 billion in two-way trade by 2030. After high-level plenary discussions at the INNOPROM India 2026 industrial technology exhibition in New Delhi, representatives from both governments established a collaborative framework aimed at expanding trade from its current level of around $60 billion. India Russia bilateral trade target set at $100 billion by 2030 as diplomatic delegations and industrial leaders move to rebalance commercial flows through non-energy sector expansion.

UAE and Germany expand economic ties with a €40 billion cross-sector investment plan. A core element of the funding involves significant expenditure on advanced digital infrastructure projects within Germany. A joint declaration from the two nations detailed plans to establish new data centres with a combined capacity of about 1 gigawatt, with Germany promising to facilitate the necessary conditions for their realization. This investment forms part of a broader array of economic accords announced during the state visit, with both governments also emphasizing collaboration in areas such as technology, energy, trade, and investment, among others covered by their bilateral relationship. The visit additionally resulted in 29 business agreements and memoranda between UAE and German enterprises. Their combined worth surpasses €9.356 billion, according to the joint declaration. Moreover, both nations agreed to create a German-UAE Investment Council, which will serve as a platform to foster investment and engagement between government agencies and private sector entities. They also launched a Strategic Dialogue aimed at enhancing cooperation across various fields including economic, technological, security, energy, transport, environmental, cultural, and educational sectors. UAE’s €40 billion investment focuses on industry and digital infrastructure development This commitment follows previous significant UAE investments in Germany. According to the joint declaration, XRG has invested around €15 billion in Covestro. Furthermore, the two countries identified additional corporate investment and partnership strategies involving Covestro, RWE, ADNOC, and Masdar. These initiatives are in addition to the newly announced investment plan rather than part of

The United Arab Emirates and Germany launched a Strategic Dialogue and agreed to establish a bilateral Investment Council during a state visit to Berlin. UAE President Sheikh Mohamed bin Zayed Al Nahyan and German Chancellor Friedrich Merz witnessed the announcement of 12 government-level agreements, memoranda and declarations. The measures cover investment, energy, technology, aviation, security, legal cooperation, environmental affairs, data systems and culture. The agreements expand the framework of the UAE-Germany Comprehensive Strategic Partnership, which dates to 2004.

Gold prices moved higher on Thursday, buoyed by a softer U.S. dollar ahead of key U.S. inflation figures. Spot gold increased by 0.3% to reach $4,414.28 per ounce by 0419 GMT. Meanwhile, U.S. gold futures for December delivery dipped 0.1% to $4,457.20. This early upward movement helped keep spot gold above the $4,400 mark after a notable reversal during Wednesday’s trading session. Initially declining, gold closed that day over 1% higher than its previous level.

The Panama Canal might reduce its daily ship transits to approximately 29 vessels in February or March 2027 if drought conditions persist, according to its new administrator. Ilya Espino de Marotta assumed her role on Sept. 7 and indicated this possibility amid El Niño-related threats to reservoir levels. The canal requires freshwater from lakes fed by rainfall to operate its locks effectively. Following below-average precipitation across the watershed, the Panama Canal Authority has already initiated phased capacity reductions.

Under the preliminary deal, the new owners will transform the vehicle production site into a dedicated facility for security and defense manufacturing. This strategic move marks the first significant shift of a German car factory towards the production of military hardware amid ongoing restructuring within Europe’s automotive industry. Israel Aurelius German state to take over VWs Osnabrück plant defense projects to supply air defense equipment for European security markets.

At the close of August 2026, Egypt’s international reserves reached an all-time high of $57.2145 billion. The Central Bank of Egypt announced the preliminary figure on September 7. As of July’s end, reserves stood at $56.2939 billion, indicating an increase of approximately $920.6 million over August, equating to around 1.6%. This latest figure continues a pattern of consistent monthly growth in 2026 and elevates Egypt’s official foreign reserves beyond $57 billion for the first time.