Latest news with #ThaniAlZeyoudi
Mid East Info
17-07-2025
- Business
- Mid East Info
Quest Global Joins UAE's NextGen FDI Initiative to Support Local Engineering Research and Development - Middle East Business News and Information
Engineering research company plans to open high-value engineering centers across the UAE HE Dr. Thani Al Zeyoudi: 'By enhancing our engineering ecosystem and offering bespoke services to manufacturing companies, Quest Global's cutting-edge research centers will support our industrial transformation goals, improve productivity and develop national talent.' July, 2025 – Abu Dhabi, UAE: The UAE Ministry of Foreign Trade has announced that Quest Global, a Singapore-based engineering research and development services company, will establish a presence in the United Arab Emirates through the NextGen FDI initiative – a pioneering program that seeks to attract high-impact companies from around the world through a suite of market-entry fundamentals such as rapid incorporation and fast-track issuance. Quest Global will now open a number of client-centric, high-value engineering centers (HVECs) throughout the UAE, which will offer support to businesses in sectors such as energy, defense, and advanced manufacturing. Quest Global's engineering expertise, coupled with AI and digital technologies, will help transform companies by enhancing operations, fostering innovation and optimizing supply-chains. His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, welcomed Quest Global's entry into the UAE market, which he says underlines the country's status as a platform for growth: 'The NextGen FDI initiative was created to attract forward-thinking, ambitious enterprises such as Quest Global to the UAE. By enhancing our engineering ecosystem and offering bespoke services to manufacturing companies, their cutting-edge research centers will support our industrial transformation goals, improve productivity and develop national talent. Quest Global's participation in the initiative also helps reinforce the UAE's status as an economic hub that facilitates expansion into regional and global markets.' Robert Vatter, Executive President Quest Global says that the NextGen FDI initiative opens up important opportunities for the company: 'Quest Global serves as a strategic ER&D partner to large global companies across energy, aerospace and defence, and other industries. By facilitating the establishment of high value engineering centers in the UAE, the NextGen FDI Initiative will enable us to extend this support to companies based in the UAE and the wider GCC – helping them realize their business ambitions, develop their talent and accelerate their contribution to the development a knowledge economy.' Since its launch in 2022, the NextGen FDI Initiative has enabled a range of pioneering companies establish a footprint in the UAE, helping to develop clusters of excellence in future-focused sectors such as artificial intelligence, robotics, alternative energy and storage, hybrid aviation, and precision fermentation. Together, they are supporting the UAE's transition to a knowledge- and innovation-based economy.
Zawya
16-07-2025
- Business
- Zawya
Quest Global joins UAE's NextGen FDI Initiative to support local engineering research and development
HE Dr. Thani Al Zeyoudi: 'By enhancing our engineering ecosystem and offering bespoke services to manufacturing companies, Quest Global's cutting-edge research centers will support our industrial transformation goals, improve productivity and develop national talent.' Abu Dhabi, UAE: The UAE Ministry of Foreign Trade has announced that Quest Global, a Singapore-based engineering research and development services company, will establish a presence in the United Arab Emirates through the NextGen FDI initiative – a pioneering program that seeks to attract high-impact companies from around the world through a suite of market-entry fundamentals such as rapid incorporation and fast-track issuance. Quest Global will now open a number of client-centric, high-value engineering centers (HVECs) throughout the UAE, which will offer support to businesses in sectors such as energy, defense, and advanced manufacturing. Quest Global's engineering expertise, coupled with AI and digital technologies, will help transform companies by enhancing operations, fostering innovation and optimizing supply-chains. His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, welcomed Quest Global's entry into the UAE market, which he says underlines the country's status as a platform for growth: 'The NextGen FDI initiative was created to attract forward-thinking, ambitious enterprises such as Quest Global to the UAE. By enhancing our engineering ecosystem and offering bespoke services to manufacturing companies, their cutting-edge research centers will support our industrial transformation goals, improve productivity and develop national talent. Quest Global's participation in the initiative also helps reinforce the UAE's status as an economic hub that facilitates expansion into regional and global markets.' Robert Vatter, Executive President Quest Global says that the NextGen FDI initiative opens up important opportunities for the company: 'Quest Global serves as a strategic ER&D partner to large global companies across energy, aerospace and defence, and other industries. By facilitating the establishment of high value engineering centers in the UAE, the NextGen FDI Initiative will enable us to extend this support to companies based in the UAE and the wider GCC – helping them realize their business ambitions, develop their talent and accelerate their contribution to the development a knowledge economy.' Since its launch in 2022, the NextGen FDI Initiative has enabled a range of pioneering companies establish a footprint in the UAE, helping to develop clusters of excellence in future-focused sectors such as artificial intelligence, robotics, alternative energy and storage, hybrid aviation, and precision fermentation. Together, they are supporting the UAE's transition to a knowledge- and innovation-based economy.
Khaleej Times
06-07-2025
- Business
- Khaleej Times
UAE non-oil trade with Brics nations in strong expansion mode
The UAE and the Brics nations have been experiencing robust trade growth over the past years. In 2024, they shared non-oil trade worth $243 billion, a 10.5 per cent increase over 2023, data shows. The momentum accelerated in 2025, with non-oil trade reaching $68.3 billion, a year-on-year growth rate of 18.2 per cent, and 2.4 per cent more than Q4, 2024. The UAE's total non-oil exports to Brics countries grew to $39.4 billion in 2024, nearly double the level from 2019, while re-exports reached $50.5 billion. The UAE ranks 14th globally among Brics trading partners and 5th when measuring internal trade among Brics nations, behind China, Russia, India and Brazil. The Brics community, which initially comprised of Brazil, Russia, India, China and South Africa before expanding to 10 nations — adding Indonesia, Ethiopia, Egypt, Iran, and the UAE — this year, represents a significant portion of the global economy. It accounts for approximately 40 per cent of the world's population and around 25 per cent of global GDP. The UAE became a member of Brics in 2024, reflecting its strategic focus on expanding diplomatic and economic ties with markets throughout the world to further enhance its role in driving global economic growth and prosperity. Dr Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, highlighted the UAE's strong relationships with Brics nations at the Brics Business Forum on the sidelines of the 17th Brics Summit in Rio de Janeiro, Brazil. During the forum, Al Zeyoudi stressed the community's role in driving innovation, accelerating trade and creating opportunities for cross-border investment. Al Zeyoudi also promoted closer collaboration in key sectors, including logistics, agriculture, renewable energy, technology and healthcare. Al Zeyoudi said the Forum provided an important opportunity to engage with a group of like-minded nations undergoing significant economic transformations: 'The Brics community provides a compelling model for growth in the current economic climate. Each of us are seeking economic growth based on investment, innovation, entrepreneurship and trade relationships free from barriers and bureaucracy. This is how the UAE is building our next chapter of economic development, from attracting FDI and fostering new, technology-driven industries to securing free-trade deals with like-minded nations such as Brics members India, Indonesia and Russia. We are eager to maximize this relationship to the fullest extent and build upon these strong foundations in vital economic sectors including energy, logistics, technology, healthcare and food security.' The Brics Business Forum gathered leaders and business representatives from the community's 10 member nations to exchange views and ideas on how their public and private sectors can work together to navigate the world's current economic and geopolitical climate. The UAE's participation reflects its belief in constructive collaboration and its commitment to pursuing mutually beneficial global partnership. The Forum resulted in the endorsement of several initiatives aimed at deepening economic cooperation as well as new private sector partnerships that will enhance trade and investment flows. Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, said: We believe that constructive partnerships among emerging and developing economies, through platforms such as Brics, offer an important opportunity to enhance global economic governance, expand access to innovative financing, and support long-term financial stability. We also stress the importance of reinforcing financial and monetary coordination among member states to ensure more inclusive and sustainable growth.'
Zawya
20-06-2025
- Business
- Zawya
Mohammed bin Rashid announces changes to UAE government
Following consultations and approval of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, announced today changes to the UAE government. His Highness Sheikh Mohammed bin Rashid said, 'Following consultations with my brother, His Highness the President, and with his approval, we announce today changes to the UAE government as follows: establishment of a Ministry of Foreign Trade in the UAE government and appointment of Dr. Thani Al Zeyoudi as Minister of Foreign Trade, and renaming the Ministry of Economy to Ministry of Economy and Tourism led by Abdullah bin Touq Al Marri.' He added, 'We also announce that the National Artificial Intelligence System will be adopted as an advisory member in the Council of Ministers, the Ministerial Development Council, and all boards of federal entities and government companies starting from January 2026 to support decision-making in these councils, conduct real-time analyses of their decisions, provide technical advice, and enhance the efficiency of government policies adopted by these councils across all sectors.' His Highness Sheikh Mohammed bin Rashid said, "The world is undergoing a comprehensive transformation phase… scientifically... economically... and socially... our goal is to prepare today for the coming decades... our goal is to ensure continued prosperity and dignified life for future generations."
Zawya
20-06-2025
- Business
- Zawya
Mideast Stocks: UAE stocks bounce back amid hopes of regional de-escalation
Stock exchanges in the United Arab Emirates rebounded on Friday, buoyed by hopes of a potential de-escalation in regional tensions. Investor sentiment improved following European efforts to bring Tehran back to the negotiating table and a pause in U.S. involvement in the Middle East conflict. The White House said on Thursday that President Donald Trump would decide on "whether or not to go" with U.S. involvement in the conflict in the next two weeks, citing the possibility of negotiations involving Iran in the near future. Dubai's main index snapped a three-day losing streak, rising 1.6%, driven by gains in real estate and materials sector stocks. Among the top performers, Dubai's developer Emaar Properties jumped 1.2%, while state-owned Parkin Company advanced 4.8%. Separately, UAE created a new ministry of foreign trade, and appointed Thani al Zeyoudi as its minister, the United Arab Emirates prime minister and Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum said in a post on X on Friday. Abu Dhabi's benchmark index (.FTFADGI) also rebounded, gaining 1% after three consecutive sessions of losses. First Abu Dhabi Bank rose 2.7%, while Adnoc Gas advanced 2.5%. Real estate developer Aldar Properties gained 4.5% after reporting over AED 3.5 billion in sales at its Fahid Beach Residences and The Beach House projects. Despite Friday's gains, Dubai's index posted a second consecutive weekly loss, down 0.2% after nine straight weeks of gains. Abu Dhabi mirrored the trend with a 0.5% weekly decline, according to LSEG data. Meanwhile, oil prices — a key driver of Gulf financial markets — fell 2.3% to $77.04 per barrel as of 11:40 GMT. (Reporting by Mohd Edrees in Bengaluru; Editing by Shailesh Kuber)
