Weekly News Digest

Algeria plans $17.7 billion in social transfers in 2027 budget

The allocation, to help households cope with living costs, is in the draft 2027 budget presented to parliament on 2 November.

Bahrain announces investments and partnerships in industry, technology, tourism and aviation

Gateway Gulf 2026 saw a series of investments, agreements and expansion projects across a wide range of sectors.

Batelco by Beyon signs agreement with Bareeq Al Retaj

Batelco becomes strategic technology partner across the real estate developer’s current and future developments in Bahrain.

Banque du Caire IPO marks new chapter in Egypt’s state asset sale programme: PM

Banque du Caire began trading on the EGX in the largest public offering in the country’s capital market history.

Planning minister presents Egypt’s vision in Madrid to attract investment

Minister Ahmed Rostom set out Egypt’s development vision at the 2026 Sustainable Development Goals Dialogue in Madrid.

Egypt seeks Japanese investment in airport development projects

Several airports are to be offered to the private sector for management and development, in cooperation with the IFC.

Egypt, Sudan sign water cooperation deal to support reconstruction efforts

An MoU to rehabilitate war-damaged water infrastructure and develop new water projects in Sudan.

Egypt, World Bank sign $1B agreement for second phase of development policy financing

PM Moustafa Madbouly witnessed the signing under the second phase of the Development Policy Financing programme.

Egypt advances construction of 341km railway linking Bir al-Abd, Arish and Taba

Part of a broader project to extend the national railway network across Sinai and support development in the peninsula.

Uber is in discussions to enter the Iraqi market under its own brand

Uber’s Middle East executive director met the Transport Minister to discuss app-based transport services.

New $900m residential city approved for Basra

An investment licence has been granted for the Mawten Basra Residential City, to be developed in five phases.

Telecoms MoU signed between Iraq and Huawei

The deal aims to develop telecoms and IT infrastructure and support Iraq’s digital transformation.

New automotive hub opens in Zakho

Developed by Harlem Group with Muhanad Group, the centre in the Kurdistan Region spans close to 200,000 sqm.

Iraq-Jordan-Egypt trilateral oil cooperation talks

The committee discussed strategic oil, energy and petrochemical projects, including the Basra-Haditha pipeline.

Ansaldo Energia explores power sector projects in Iraq

Talks with the National Investment Commission on expanding Italian investment in Iraq’s electricity sector.

IBBC Baghdad Conference: ‘Iraq – Rising to the Challenges’

Details of the forthcoming IBBC business conference in Baghdad.

Iraq-Syria talks cover oil exports and economic ties

Talks in Damascus covered oil exports via the Syrian port of Baniyas, trade volumes and agricultural cooperation.

ACT sets new all-time record of 109,341 TEUs in October

Aqaba Container Terminal recorded the highest monthly throughput in its history.

ASE-listed companies’ nine-month profits rise 4.8% to JD1.78b

Listed companies recorded a 99% compliance rate in filing reviewed interim statements for the period to 30 September.

$902m profits for Arab Bank Group in Q3 2026

The Group reported solid nine-month results despite a rapidly changing operating environment.

JLGC boosts SME and export financing guarantees to JD463m in Q3 2026

Guarantees rose from JD340.7m a year earlier, expanding access to credit for SMEs and exporters.

Kuwait reaffirms commitment to peaceful uses of nuclear energy

KISR’s director general spoke at the International Ministerial Conference on Nuclear Energy 2026 in Incheon.

Algeria, Kuwait working to launch direct flights

Arrangements for a direct air link have reached their final stages, says Algeria’s ambassador to Kuwait.

Kuwait, Algeria discuss boosting judicial and legal cooperation

Talks also covered preparations for the Council of Arab Justice Ministers meeting, to be hosted by Algeria.

World Bank Group seeks to strengthen cooperation with Libya

The Group is ready to expand cooperation in energy, public services and public financial management.

Economy Minister: Libya seeks productive investment as annual development spending averages $10 billion

Libya aims to leverage its resources and strategic location to diversify the national economy.

Italian-Libyan Chamber of Commerce opens office at Misrata Free Zone

The permanent office will support Italian businesses and strengthen Libya–Italy trade and investment ties.

Turkey aims to raise trade with Libya to $5 billion

Turkish Trade Minister Omer Bolat set the target after talks in Istanbul with Libya’s economy minister.

King Mohammed VI reviews Nador West Med launch, Tanger Med 3 expansion

Nador West Med’s first container terminal is expected to begin operations in the coming days.

Nador West Med complex, a major step for the national port system

Tanger Med’s director general says the complex brings tangible benefits for the local population (in French).

Sothema signs agreement to acquire 100% of Ramo Pharm

The deal for the Casablanca-based supplements firm is subject to Competition Council approval.

UK recalls interest in supporting Morocco’s 2030 World Cup projects

A UK–Morocco joint statement commits to deeper trade ties and infrastructure cooperation ahead of the 2030 World Cup.

Morocco, Egypt identify three priorities to expand bilateral trade

Morocco seeks to grow exports to Egypt after a trade deficit of more than MAD 10 billion in 2025.

Crypto inflows reach $14.6 billion amid push for regulation

Morocco ranks second in North Africa for crypto inflows, behind Egypt, according to Chainalysis.

Oman signs $790m deals to expand industrial, manufacturing capacity

Madayn signed 28 investment agreements worth more than RO304m across its economic zones, free zones and industrial cities.

Oman’s Phaze Ventures launches $75mn global venture platform

Two new funds will invest in AI, deep technology and homegrown AI-enabled businesses.

Oman plans specialised pharmaceutical, medical clusters in 3 industrial zones

The first phase covers 1.5mn sqm, with incentives for domestic and foreign investors.

Innovators conference recommends launching Arab project to produce AI technologies

The Arab Innovators and Talents Conference also called for an Arab initiative for digital sovereignty.

Oman Duty Free inks MoU with China Duty Free International

Signed during His Majesty Sultan Haitham bin Tarik’s state visit to China, to strengthen travel retail cooperation.

Food Security Laboratory targets accelerated local investment

The lab focuses on accelerating investment projects and boosting local food production.

Oman Makers Centre opens to turn ideas into products

The centre at Muscat Innovation Park helps innovators turn ideas into market-ready products.

QatarEnergy to purchase 3 MTPA of US LNG from Woodside Energy

A long-term deal for LNG from the Louisiana LNG project, under construction on the US Gulf Coast.

Cityscape Qatar closes with $269m in real estate sales

Sales of QR1bn doubled on last year, with 16,000 visitors over three days.

Qatar urges Arab universities to put Arabic at the heart of AI

Qatar called on Arab universities to help build Arabic-language AI at a Unesco conference in Doha.

Twenty finalists announced for Design Doha Prize 2026

The prize recognises design talent from the Middle East, North Africa, South Asia and their diasporas.

Mace named procurement advisory consultant for Expo 2030 Riyadh

London-based Mace Consult will support delivery of one of the world’s largest global events.

Saudi Arabia launches 1,200km Northern Trail to boost winter tourism

A new tourism product under the Saudi Winter 2026 programme showcasing heritage, nature and local culture.

Riyadh Metro opens new horizons for commercial real estate investment

The Riyadh Metro carried 30.4 million riders in Q3 2026, shaping real estate investors’ calculations.

Saudi Arabia, Kuwait discuss ways to deepen cooperation in energy and industry

Prince Abdulaziz bin Salman met Kuwait’s Foreign Minister in Riyadh.

Saudi public-private partnership identifies 20 challenges to improving business environment

The private sector flagged 20 obstacles to the new commercial registration law; four have been resolved.

Saudi Arabia’s landmark Jeddah Tower approaches 500m mark

The tower has reached level 120 (approx. 482m) on its way to becoming the world’s tallest building.

Al Shubaily Grand Mall announces phased soft opening

The Al Khobar mall began its phased soft opening on 29 October, with an official grand opening planned for 2027.

Al Othaim Developments brings 70 years of consumer insight into Saudi Arabia’s real estate market

Abdullah Al Othaim Investment Company enters the real estate sector with the launch of Al Othaim Developments.

Syria launches six-month company registration digitisation project

The project aims to simplify procedures for local and foreign businesses and strengthen the investment climate.

Project Syria 2026 opens in Damascus with participation of 150 companies

Companies from 12 countries showcase construction and energy technologies and explore investment opportunities.

Syria, China explore investment partnerships at Damascus economic forum

Representatives of 16 Chinese companies attended the two-day forum on joint investment and reconstruction.

$100 million sought for the Gassat phosphate project

A $1.5m US grant to CrossBoundary Group will help PhosCo mobilise US investment for the project (in French).

Tunisian operators set their sights on Cameroon and Senegal

Tunisian businesses see Africa as a space for investment, industrial partnerships, logistics and technology (in French).

Abu Dhabi Chamber reports 6,224 active energy-sector members

More than 2,500 companies have joined since the start of 2024; new registrations rose 11% in 2025.

Family businesses’ role in driving economic growth underlined

The inaugural Forbes Middle East Family Business Summit highlighted Abu Dhabi as a destination for family capital.

UAE world’s most forward-looking country for AI adoption: OpenAI CEO

Sam Altman spoke at ADIPEC 2026 about the OpenAI, ADNOC and G42 partnership for the energy sector.

Umm Al Qaiwain Chamber organises Business and Investment Forum

Held with Building Materials Group, the forum brought together 60 companies with government and investment bodies.

Binghatti-backed investment fund delivers 194pc net return

The Binghatti Pinnacle Development Fund achieved a net IRR of 194% and a 2.3x net MOIC.

Bloomberg Invest expands in the Middle East with inaugural Dubai edition

Launched with Dubai’s Department of Economy and Tourism.

Abu Dhabi Department of Energy, Evolve Fuels to explore sustainable aviation fuel opportunities

An agreement signed at ADIPEC 2026 to explore producing synthetic sustainable aviation fuel in Abu Dhabi.

DP World strengthens China–Africa corridor with new shipping link

The new weekly China Africa Link service strengthens connectivity between the Far East and Africa.

Alya establishes regional headquarters at DIFC

The Brookfield- and Lunate-backed platform for premium GCC residential developments is now based in DIFC.

AI adoption exceeds 70% among DIFC firms as Emirates NBD commits half of tech budget

Emirates NBD has allocated around 50% of its technology budget to AI initiatives.

Food prices to rise 10%, energy 32% this year globally, says World Bank

Commodity prices are set to rise 23% in 2026, with energy prices heading for a four-year high.

Oil prices ease on renewed peace hopes, supply concerns stay

Diplomatic efforts tempered concerns over supply disruptions amid continuing Houthi attacks.

Arcapita plans $1.5bn push into GCC industrial and logistics property

The investment over the next 24 months builds on more than $2bn already under management in the sector.

76% of Middle East energy leaders increase investment in autonomous technology, says Schneider Electric

72% said autonomous systems were important for operational resilience and uninterrupted production.

What we now know about the UK economy in four charts

The OBR expects soaring energy prices to dent growth, push up inflation and leave living standards in a “grim” place.

Inflation to surge beyond forecasts as UK economy set for growth slowdown

Households face higher-than-expected inflation and slower growth next year due to energy prices.

Trade and investment factsheets: latest update

The latest snapshot of the UK’s trade and investment positions with overseas partners, updated 3 November.

UK–EU trade relationship needs to change

The BCC’s new report sets out nine possible options for the UK–EU relationship ahead of the Leaders’ Summit.

Public register of reprocessors and exporters of UK packaging waste

All operators registered and accredited under extended producer responsibility (EPR) for packaging.

Healey under fire on spending plans as UK faces ‘worst decade for living standards on record’

Think tanks warn spending pressures could mean drastic departmental cuts at next year’s Spending Review.

Budget prices in wave of fresh North Sea drilling

The Budget assumes approval of projects producing more than a billion barrels of oil and gas.

Healey avoids bond market backlash with ‘placeholder Budget’

Big decisions on defence and welfare were delayed, leaving questions over future spending plans.

What the Budget offers for under 25s – and what it leaves out

Changes to the minimum wage and help for first-time buyers, and how they could affect under-25s.

Treasury will not commit to reducing welfare bill before next election

The Treasury disputes that the Chancellor suggested the benefits bill will be cut before polling day.

Lloyds reports profit increase as bank gets boost from higher rates

Profits nearly doubled, a day after the Chancellor said he was hiking bank taxes to fund cost-of-living support.

Banks raise a glass to Healey’s Budget… not in celebration, but with a sigh of relief

Banks face an extra three per cent surcharge on top of the tax they already pay on profits.

Barclays begins early motor finance payouts as FCA sets ground rules

Payments will use the FCA’s redress scheme methodology; acceptance is optional but final.

Government and Rolls-Royce agree £2.5bn to build jet engines in the UK

The programme could see jet engines built in the UK for decades and create tens of thousands of jobs.

Britain’s ambitious scale-ups backed to keep growing in the UK

Expert support to help scale-ups grow and stay in the UK, creating jobs and growth.

Manufacturers ‘resilient’ as some cost pressures passed onto customers

The S&P Global UK manufacturing PMI rose to 52.8 in October, the fastest production growth in two years.

Autumn Budget 2026: UK tech leaders react to AI investment and business support

A mixed response: AI and startup commitments welcomed, with concerns over regulation, finance and tax.

Support for more women in tech

A new government push to tackle barriers facing female founders and workers in technology.

Virgin Media O2 confirms thousands of UK job cuts in £800m cost-cutting drive

The operator is grappling with firmer competition and “paradoxical” regulation in the fibre market.

Drax unveils £20bn plans for new data centre – powered by burning wood

The data centre at its North Yorkshire biomass plant will be built with AI infrastructure firm Radiant.

From royal barracks to luxury residences: London’s St John’s Wood Square looks to GCC buyers

The 5.5-acre development of 120 residences is seeking buyers from Saudi Arabia and the wider Gulf.

Housebuilding at 10-year high, report says

Guernsey had 408 homes under construction at the end of June, the highest figure since 2016.

Chancellor puts council homes at heart of £1.5bn Budget boost

An extra £1.5bn for social and affordable housing, alongside a freeze on major building regulation changes.

Graham wins first tower on £1.2bn Liverpool site

Graham will build the first tower on the Kings waterfront development.

Work set to start on £230m Farringdon hotel

Main construction is imminent on a new aparthotel near Holborn Viaduct in central London.

KierBAM JV confirms £600m Devonport dock upgrade

Kier and BAM secured the main works contract to upgrade 10 Dock for submarine maintenance.

Glenbrook advances 24-storey Leeds resi tower

The Manchester developer is lining up a homes tower on two former Leeds car parks.

Plans lodged for Welsh Water’s biggest-ever project

A £600m overhaul of water treatment infrastructure serving more than 400,000 properties in south Wales.

20 firms land £500m MAG airports minor works deal

The framework covers jobs worth up to £5m each at Manchester, Stansted and East Midlands airports.

Developer lines up next phases at £180m Wigan mill scheme

Heaton Group secured approval for 179 new homes at its Cotton Works regeneration.

Green light for £3bn Kent–Suffolk power link

National Grid secured development consent for Sea Link, with construction due to start early next year.

Budget 2026: What does it mean for UK retailers?

Support for high streets and household spending, offset by another increase in employment costs.

83% of UK consumers fear rising prices

More than eight in ten shoppers were concerned about food prices and inflation ahead of the Budget.

Asda hands reins to former Morrisons boss in turnaround push

David Potts takes over as chief executive, with Allan Leighton stepping back to non-executive chairman.

Poundland founder warns staff could be ‘out of work for years’ if chain collapses

Steve Smith warns the potential loss of 12,000 jobs would hit towns already struggling with closures.

Primark owner warns of further profit decline after 14% slump

ABF posted adjusted operating profit of £1.51bn for the year to 12 September 2026.

Supermarket freezers hacked across Europe as cyberattacks destroy food stock

Hackers took control of refrigeration systems, sending temperatures as high as 50C.

UK-EU deal could scrap Brexit food checks and reopen export markets

A draft UK–EU agreement could remove costly border checks and reopen long-restricted export markets.

UK farmers receive less support than EU counterparts, OECD finds

New OECD figures show a 4.4 percentage point gap between UK and EU farm support.

Budget small print reveals more financial pain for British farmers

Higher wage bills, increased taxes on rental income and potentially greater costs when selling a business.

Supply chain Adjudicator urges farmers to speak up over unfair supply contracts

The Agricultural Supply Chain Adjudicator publishes its second annual report.

Northern Ireland unveils nature recovery plan amid farming concerns

Farmers will play a major role, but concerns remain over funding and the impact on food production.

Farm inheritance tax stays as budget offers relief on fuel but little else

Farmers feel “abandoned” after the Budget kept inheritance tax changes but extended fuel duty relief.

Massive 800MW solar farm approved despite farmland concerns

The development covers more than 4,300 acres of Nottinghamshire countryside.

Meet Turkish food & packaging suppliers in London at free B2B day on 28 November

Pre-arranged one-to-one meetings with 28 Turkish producers of food, beverages, confectionery, dried fruit and nuts, frozen foods and packaging. Saturday 28 November, 10:00–17:00, Convene, 155 Bishopsgate, London EC2M 3YD. Free for buyers.

Autumn Budget 2026: Key changes and their impact in the UK

Luca Marin, Partner at WellTax, on the 28 October Budget’s changes to property and savings tax, business reliefs and the National Minimum Wage.

Partner events

Browse the ABCC partner events programme

See the latest events hosted by our partners and supported by the ABCC.

Latest tender notices from the Bahrain Tender Board

The latest tender notices were updated on the Bahrain Tender Board portal on 3 November.

New tender announcements on the Oman Tender Board

New tenders were announced on the Tender Board’s e-tendering website on 3 November.

New tenders on the Etimad platform

New tender details were released on Saudi Arabia’s Etimad portal on 3 November.

Latest UAE government tenders

The latest tender announcements were uploaded to UAE Business Gate on 1 November.