Latest news with #InvestmentSummit
Al Etihad
15-05-2025
- Business
- Al Etihad
US President's visit to UAE marks milestone in strategic partnership; future-focused cooperation
15 May 2025 11:30 ABU DHABI (WAM)The visit of US President Donald Trump to the United Arab Emirates has been widely hailed by Emirati and American business leaders as a pivotal moment for strengthening the strategic partnership between the two nations and expanding cooperation in key future-oriented sectors such as technology, energy, and Mohamed Ben Salem, Secretary-General of the Federation of UAE Chambers of Commerce and Industry (FCCI), stated that President Trump's visit provides significant momentum to joint investment opportunities, particularly in critical sectors, including AI, space, renewable energy, healthcare, and advanced highlighted that the UAE is already home to over 1,800 American companies and that this number is expected to rise in light of the visit's positive Salem also pointed to the UAE's participation in the 'SelectUSA' Investment Summit in Maryland from 11th to 14th May as a testament to the strong ties between the private sectors in both countries and a key platform to expand bilateral Sebright, President of the US-UAE Business Council, described the visit as a defining milestone that opens a new era of cross-border collaboration, especially in areas such as AI, advanced technologies, energy, and noted that UAE investments in the US have exceeded $1 trillion, spanning landmark projects in AI infrastructure, clean energy, and manufacturing. Among these is a massive partnership between UAE-based MGX, Microsoft, and xAI to build out advanced AI infrastructure in the US, under a project renamed "AI Infrastructure Partnership," with an anticipated $100 billion in investments and the creation of 20,000 also referenced ADQ's $25 billion agreement with Energy Capital Partners to power US data centres, ADNOC's growing portfolio in low-carbon energy and natural gas infrastructure in partnership with ExxonMobil and OMV, and Emirates Global Aluminium's plan to establish the first new aluminum smelter in the US in over three emphasised that these investments reflect a long-standing, trusted economic partnership. Other strategic ventures include Masdar's clean energy projects across multiple US states, and Mubadala's pivotal investment in GlobalFoundries, creating over 18,000 direct and indirect jobs in New York State the field of nuclear energy, Mohamed Al Hammadi, Managing Director and CEO of the Emirates Nuclear Energy Company (ENEC), underscored the UAE's collaboration with major US nuclear technology firms as a global model for responsible and peaceful nuclear Hammadi explained that ENEC is actively investing in next-generation nuclear technologies and microreactors through partnerships with companies such as TerraPower, Westinghouse, and X-energy. These efforts are part of the ENEC ADVANCE Programme, launched in 2023 and are aimed at advancing nuclear capabilities both within the UAE and abroad—including in the United States, where the clean energy sector is witnessing robust growth. President Trump's visit to the UAE underscores the depth of the US-UAE relations and a shared vision for future-driven cooperation. It reflects a joint commitment to bolstering ties not only in politics and security, but also across key sectors shaping the global economy—fostering stability, innovation, and prosperity for both nations and the broader region. Trump's Middle East visit Continue full coverage
Reuters
14-05-2025
- Business
- Reuters
Trump lavishes praise on Saudi crown prince, signaling renewed alliance
RIYADH/WASHINGTON, May 13 (Reuters) - Four years ago, Saudi Crown Prince Mohammed bin Salman struggled to get an audience with then-President Joe Biden, who said he wanted to make the Gulf country a pariah after its leader allegedly ordered the murder of a Washington-based journalist. On Tuesday, President Donald Trump lavished effusive praise on Saudi's de facto ruler, calling him "an incredible man" and a "great guy," and made no mention of human rights concerns in the country. "I like him a lot. I like him too much," Trump gushed as cameras flashed and the crowd applauded at an investment summit in Riyadh, where the U.S. president kicked off the first major overseas trip of his second term. The display of affection for a leader with a contentious history mirrored Trump's first term, when he forged an alliance with bin Salman that deepened through years of mutual flattery and dealmaking. The relationship remains anchored in shared interests: Trump is chasing major economic wins and a revived U.S. role in the region, while bin Salman seeks access to advanced technology, military support and a powerful ally in his push to modernize Saudi Arabia and assert regional leadership. At the summit, Trump touted a $142 billion defense agreement and a sweeping $600 billion Saudi investment package spanning artificial intelligence, infrastructure and energy. Trump's ties with the crown prince have sparked criticism from U.S. lawmakers, human rights groups and foreign policy analysts for what they viewed as prioritizing economic interests over human rights. While bin Salman has denied involvement in journalist Jamal Khashoggi's murder and pointed to reforms such as expanding women's rights as evidence of progress, analysts said these changes were undercut by continued crackdowns on dissent and political freedoms. Trump's rapport with bin Salman is far warmer than his White House predecessor's. Yet Biden's relationship with the Saudi leader took a friendlier turn too, evolving from initial harsh criticism to pragmatic cordiality. In 2019, the Democratic president promised to make Saudi Arabia a "pariah" on the world stage for Khashoggi's killing and its broader human rights record. But geopolitical realities such as skyrocketing oil prices caused in part by Russia's invasion of Ukraine in 2022 highlighted a need for cooperation between Washington and Riyadh. That led Biden to decide it was time to reset the strategic relationship, and he eventually visited the crown prince in July 2022. The two men greeted each other with a fist bump, which drew some criticism as an overly friendly gesture given human rights concerns. White House aides insisted it was a way to lower Biden's risk of contracting COVID-19. Relations improved quickly as his administration worked to broker a deal for normalizing Saudi-Israeli relations in exchange for a broader U.S. defense agreement. The effort was frozen by the October 7, 2023 attack by Hamas on Israel and Israel's subsequent war on Gaza. During Trump's visit on Tuesday, the crown prince personally greeted the U.S. president, escorting him up an escalator and later driving him in a golf cart ahead of a state dinner. In a moment that underscored the depth of their personal bond, Trump pledged to lift U.S. sanctions on Syria - a dramatic move that he said came at bin Salman's request. "Oh, what I do for the crown prince," Trump said, as the crown prince placed his hands over his heart and led a standing ovation.
Bloomberg
13-05-2025
- Business
- Bloomberg
Trump Says He Wants a Deal With Iran
President Donald Trump says he wants to make a deal with Iran to make the Middle East a safer region. Speaking at an investment summit in Riyadh, Trump said if Iran does not take the offer, he will exert maximum pressure and "drive Iranian oil exports to zero." (Source: Bloomberg)
Hi Dubai
08-05-2025
- Business
- Hi Dubai
GameExpo Summit 2025 Draws Global Gaming Leaders to Dubai for Innovation and Investment
GameExpo Summit 2025 kicked off this week at Dubai World Trade Centre, uniting over 1,500 global gaming professionals for two days of high-level networking, innovation showcases, and strategic dialogue. Held on 7–8 May, the premier B2B gaming conference returned as a key part of the citywide Dubai Esports and Games Festival (DEF), now in its fourth edition. Powered by Pocket Gamer Connects in partnership with the Dubai Department of Economy and Tourism (DET), the summit continues to position Dubai as a central hub in the MENA region's rapidly growing gaming economy. Organised by Dubai Festivals and Retail Establishment (DFRE), the event offers a vital platform for developers, publishers, investors, and tech innovators. More than 70 leading voices from across the global gaming industry are headlining the event, leading discussions across nine themed tracks. These include hot-button topics like AI, web3, metaverse technology, user acquisition strategies, monetisation models, and game publishing trends. A key highlight of this year's agenda is the debut of the Investment Summit, designed to spotlight emerging investment opportunities in gaming. The programme features expert panels on market growth, funding strategies, and the advantages of investing in Dubai's thriving digital sector. Also making its first appearance is PitchPlay, an investment-focused contest hosted with DMCC. It gives game entrepreneurs and startups a chance to win prizes worth AED 55,000, including a DMCC Gaming Centre Package and promotional support. Returning favourites include The Very Big Indie Pitch and the Connector SpeedMatch sessions, offering developers fast-track access to investors and publishers. Meanwhile, the Futura Advice Pitstop provides one-on-one consultations with legal and tax specialists, underscoring the summit's comprehensive approach to empowering the gaming ecosystem. News Source: Emirates News Agency
NZ Herald
22-04-2025
- Business
- NZ Herald
Northland Expressway preferred routes: Government eyes new road over Brynderwyns, rather than bypass
'The Brynderwyn Hills is a very challenging section due to the steepness of terrain and quality of the geology.' Bishop said NZTA had considered alternative western options but after reassessment, had found 'a near east alignment close to SH1'. 'This is a more direct route with more predictable geology that can be managed through engineering design.' Bishop told The Mike Hosking Breakfast this morning that procurement for the first section - continuing the current expressway north of Auckland from Warkworth to Te Hana - would begin mid to late next year. He could not yet say the timeline for the section encompassing the Brynderwyns, but answered 'absolutely, yes' when Hosking, 60, asked if the overall project would be completed in his lifetime. Bishop acknowledged costs could increase over the project's timeline, but said a lot of work was being done to avoid that. 'This is undoubtedly a challenging project ...[but when complete] the Northland Expressway will be transformational, like the Waikato Expressway.' 'More resilient transport' The Brynderwyn Hills, about 45km south of Whangārei, have been subject to ongoing closures since severe weather in early 2023. Last year, the highway was closed for about four months as NZTA repaired numerous slips. Over Easter, a landslip on Brynderwyn Hills badly damaged cars and blocked part of SH1 as the Auckland and Northland regions were battered by heavy rain. Regional Development Minister Shane Jones said the new expressway would better withstand severe weather and provide a more resilient transport network to keep people and goods moving and reduce travel time. 'This transport infrastructure is a key point in the New Zealand First-National coalition agreement,' Jones said. 'The Northland corridor is a top priority for the Government and we are working quickly to deliver this vital connection to help Northland's economy grow and its communities thrive.' Once fully complete, the Northland Expressway is estimated to be one of New Zealand's most expensive infrastructure projects. The Infrastructure Commission has estimated the project will consume $1 in every $10 spent by the Government on infrastructure over the next 25 years. This excludes maintenance and renewals. The Herald reported on the commission's findings in September, including warnings from the commission that the road's price tag would make up a large proportion of the pool of capital intended to be spent on all other central government infrastructure such as roads, hospitals, schools, defence and justice. The roading project, one of the Roads of National Significance, will be delivered as a Public-Private Partnership (PPP). The Government sought investors to help build the first section of the expresswa y at the recent inaugural Investment Summit, where attendees included firms that collectively had more than $6 trillion under management. At the summit, large Italian firm Webuild confirmed it would bid to build and run the first 26km section of the expressway, with the company's head of PPPs Guido Cacciaguerra declaring to media: 'The Italians are coming back'. The expressway has been divided into three sections: 1) Warkworth to Te Hana; 2) Te Hana to Port Marsden Highway; 3) Port Marsden Highway to Whangārei. The first section will connect the new expressway north of Auckland, which now ends at Warkworth, to Te Hana. It will include an 850m twin-bore tunnel in the Dome Valley and interchanges at Warkworth, Wellsford and Te Hana. For section two, the preferred corridor is a new route east of SH1 between Te Hana and the Brynderwyn Hills, then weaving to the east near the current SH1 at the Brynderwyn Hills and then to the west of SH1 between the Brynderwyn Hills and Port Marsden Highway. For Port Marsden Highway to Whangārei, the preferred option is a new road near SH1 between Port Marsden Highway and State Highway 15 Loop Rd and a widened SH1 corridor approaching urban Whangārei. Bishop said the highway would be 'a genuinely transformational' chance to boost jobs and growth in the area.
