Weekly News Digest

Elsewedy Electric Proposes Electric Vehicle Plant in Algeria

Elsewedy Electric has submitted a feasibility study to the Prime Minister’s Office for a plant producing electric and hybrid vehicles.

NASDA Promotes Entrepreneurship at Annaba Agri Tech Expo

NASDA is presenting its support mechanisms for project holders and investors at the fourth AGRI TECH EXPO in Annaba.

Bangladesh Eyes Algerian Energy Imports to Secure Supply

Bangladesh’s Energy Minister met Algeria’s ambassador on 11 October to discuss energy cooperation and secure supply chains.

Bahrain stresses international cooperation at WPC Energy Congress

Oil and Environment Minister Dr Mohammed bin Mubarak Bin Dainah attended the opening of the 25th WPC Energy Congress in Saudi Arabia.

Honeywell to help GPIC build aromatics complex in Bahrain

Honeywell will provide licensing and engineering for a GPIC complex producing about 1.2m tonnes of paraxylene and 500,000 tonnes of benzene a year.

Hotel bookings top the list of most used e-services in Egypt: CAPMAS

CAPMAS data show hotel bookings lead household e-commerce use at 48.3%, followed by medical services at 40.5%.

S&P maintains Egypt’s credit ratings at B/B with stable outlook as economic reforms progress

S&P cited stronger foreign currency inflows, exchange rate flexibility, fiscal discipline and continued reforms.

Madbouly witnesses Hyde Park deal to acquire 415 feddans in west Cairo

Hyde Park Developments signed to acquire the former Dreamland plot in 6th of October City, in a deal involving Banque Misr and NBE.

Government, CBE coordinate fiscal, monetary policies to curb inflation, reduce debt: Minister

Minister Ahmed Rostom said the government and the Central Bank are aligning policy to curb inflation and reduce public debt.

Egypt posts $2.8bn balance of payments surplus in FY 2025/26

The surplus reverses a $2.1bn deficit the year before, supported by a $23.2bn net inflow in the capital and financial account.

Egypt, South Korea sign agreements on clean energy, ICT and maritime cooperation

The agreements also cover industry and social security as the two countries deepen economic cooperation.

Iraq Customs Revenue up 32% Year-on-Year

Customs revenues reached IQD 442.3bn ($293m) in September 2026, up from IQD 334.2bn a year earlier.

Investment Call for Mosul Airport Management

PM Ali al-Zaidi invited international airport management and operations companies to invest in and develop Mosul International Airport.

Proposed Changes to Iraq’s Investment Law

A parliamentary workshop discussed proposed amendments to Investment Law No. 13 of 2006.

World Bank Discusses Support for Iraq’s Electricity Sector

The World Bank and the Ministry of Electricity discussed priority projects to develop Iraq’s power infrastructure.

Contract for New Residential Complex Signed in Baghdad

The National Investment Commission signed an investment contract for the Budoor Baghdad Residential City with Darb Al-Kurama.

TotalEnergies and ConocoPhillips Meet Iraqi PM

The PM met both CEOs to discuss oil and associated gas investment at the Nahr Bin Umar field in Basra.

E-commerce programme launched to boost SMEs’ digital export

A regional programme with the ITC, GIZ and the EU aims to strengthen SMEs’ digital trade and e-commerce.

Jordan achieves 20 investment reform targets under $1.35 billion World Bank programme — report

Jordan has met 20 of 44 results under the programme, with progress valued at nearly $316m between August 2025 and August 2026.

Industrial production records 0.62% growth through August — DoS

Industrial production rose 0.62% in the first eight months of 2026, and 3.34% year-on-year in August.

New incentives to strengthen Jordan’s automotive industry, says ACI President

New incentives for vehicle manufacturing and assembly in the Zarqa Development Zone could attract high-value investment and jobs.

Public Works expands GIS to improve project monitoring

Minister Dr Noura Al-Mashaan backed wider use of GIS to improve project planning, field monitoring and decision-making.

NBK named ‘Middle East’s Best FX Bank for Corporates’ for 2026

National Bank of Kuwait won the title in Euromoney’s Foreign Exchange Awards 2026.

Kuwait eyes Algerian expertise in production and medical supplies

Kuwait and Algeria discussed cooperation in the pharmaceutical industry, drawing on Algeria’s production experience.

Libya’s central bank, IMF discuss latest economic and financial developments

CBL Governor Naji Issa discussed the economy’s challenges with IMF Deputy Managing Director Kenji Okamura.

Misrata Free Zone’s Investors Forum hosts 70 local and international companies

More than 70 companies attended the opening of the MFZ Investors Forum under the theme ‘Partnerships and Sustainable Growth’.

Small importers call on Tripoli government to halt Decisions No. 428, 449, & 465 of 2026, which regulate foreign trade

Small importers urged the PM and the Economy Minister to halt the three decisions regulating foreign trade.

AGOCO explores cooperation with BlueVee Energy to develop Tobruk and Sarir refineries

AGOCO held talks with US-based BlueVee Energy on developing the two refineries and improving their efficiency.

World Bank: Morocco Mobilizes Over $70 Million in Private Capital for Startups

A decade-long World Bank-backed initiative helped establish a venture capital market and widen funding for entrepreneurs.

Bank Al-Maghrib Studies Potential Introduction of Digital Dirham

The central bank is weighing the benefits and risks of a digital dirham; no launch has been announced.

Fez Launches Call for Investors to Develop Tourist Cable Car Project

The Fez-Meknes Regional Investment Center seeks investors for an aerial link with panoramic views over the historic medina.

Morocco’s Aerospace Exports Could Reach $5 Billion Within Three Years

GIMAS forecasts annual aerospace exports rising to about $5bn, up from $3bn in 2025.

Three Moroccan Banks Rank Among Africa’s Top 10 in 2026

Attijariwafa Bank, BCP and Bank of Africa are among Africa’s 10 largest banks by Tier 1 capital, per African Business.

Gotion to Launch Morocco’s First Battery Gigafactory in Kenitra the Week of October 20

Gotion Power Morocco will begin commissioning the plant, described as the first of its kind in Africa and the Middle East.

World Bank raises Oman’s 2026 GDP growth forecast to 3.1%

Higher hydrocarbon output, diversification and resilient non-oil activity underpin the upgrade.

Saudi group Advanced Packaging to set up 25,500-sq-m factory in Oman

The RO3.85m ($10m) Salalah Free Zone plant will produce carbonated drinks, juices and energy drinks.

SME Development Fund launches auto, consumer finance services

INMA has launched Masaar for auto finance and Mazaya for consumer finance, aimed at salaried individuals.

Omani pharma firms sign 4 deals at Milan exhibition

Omani companies signed four pharmaceutical agreements at CPhI Worldwide 2026 in Milan.

Over 9mn passengers travel through Oman airports by end of August 2026

Passenger numbers reached 9.3 million, down 7.1% on the same period of 2025.

ROP establishes new duty-free markets at three key land border crossings

Duty-free markets are authorised at the Al Wajajah, Khatmat Malaha and Rub’ al Khali crossings.

Ashghal launches $114m roads, infrastructure projects in Qatar

Construction has begun on the QR418m second phase of roads and infrastructure in Izghawa and Al Thumaid.

Qatar boosts utility-scale solar push to diversify power mix

Qatar is accelerating utility-scale solar to cut domestic gas use for power, according to GlobalData.

Qatar Chamber official calls for stronger connectivity and resilient logistics

Board member Ali bin Abdullatif al-Misnad said geopolitical shifts and route disruptions are pressuring global supply chains.

QatarEnergy highlights key LNG, energy projects at WPC exhibition in Riyadh

The QatarEnergy pavilion is showcasing LNG and other energy projects at the World Petroleum Congress, running until 15 October.

SMEs key to industrial resilience and supply chain integration: Sheikh Khalifa

SMEs are increasingly integrating into Qatar’s industrial and energy value chains, the Qatar Chamber chairman said.

Real estate sales value reaches QR458mn in 41st week of 2026

Sales contracts for 4–10 October were down 14% week on week and 28.1% year on year, Aqarat said.

Ajdan unveils $1.5bn Khobar Pier to boost Saudi coastal tourism

The SAR5.6bn coastal destination on the Arabian Gulf aims to strengthen Al Khobar’s waterfront tourism appeal.

IMF Forecasts Saudi Economy to Grow 7.9% in 2027

The IMF cites a projected recovery in energy production and exports and the gradual restoration of regional trade flows.

Minister Al-Saif: FDI in emerging economic sectors soars 162%

FDI in the Kingdom’s emerging sectors rose 162% over five years, while fixed capital formation jumped 52%.

Saudi Arabia accelerates housing, rail and metro expansion

More than 63,000 Saudi families became first-time homeowners in H1 2026 as Riyadh advances major infrastructure projects.

Riyadh to Add 94 New Trains to Boost Transport Capacity

The new trains will lift the metro fleet to 277 from 183, with deliveries from 2028.

Saudi Energy Minister Signs MoUs on Energy Cooperation with Mongolia, Tanzania, Cyprus, and Mauritius

Prince Abdulaziz bin Salman signed four MoUs in Riyadh to strengthen cooperation across energy fields.

Abdulaziz bin Salman: Riyadh is the Capital of Energy Security

The Energy Minister said the status reflects the Kingdom’s efforts to ensure reliable energy supplies.

Almajdiah successfully closes Phase 1 sales for Meshraf Almajdiah project, exceeding SAR 231 million

All 304 units in the Madinah project’s first phase were bought by non-Saudi investors.

Aramco Namaat: 5 Years of Industrial Localization and Economic Diversification in Saudi Arabia

The programme has attracted nearly SAR216bn ($58bn) in investment and helped establish 58 companies since 2021.

Sudan resumes meat exports to Gulf with initial Kuwait shipment

A 20-tonne shipment to Kuwait marks a bid to revive agricultural trade after an estimated $1bn in sector losses last year.

Sudan opens jet fuel and furnace oil imports to break market monopoly

The Ministry of Energy and Oil opened Jet A-1 and furnace oil imports to qualified local companies.

Syria plans to expand quarry output to support road reconstruction

The Jandar quarry in Homs produces about 400 cubic metres of aggregate a day, with plans to expand capacity.

Syria, Dell Technologies discuss data centres and AI infrastructure

The ICT Minister and Dell discussed removing barriers to global tech firms’ return and cooperation on data centres and AI.

Tariff cuts to support industry and energy investment

Customs tariff amendments aim to reduce production costs and encourage investment in renewables, industry and health care.

Olive oil: Exports exceed 4000 million TND at the end of September 2026

Olive oil exports reached 4,005.7m dinars, up about 37.4% on the same period of 2025, according to the INS.

Mashreq partners with Expo City to expand off-plan access

Mashreq will offer off-plan home financing across selected Expo City Dubai projects, which include more than 3,000 units in development.

Circus brings to UAE its autonomous AI food production

Circus unveiled its CA-1 autonomous food production system in Abu Dhabi, its first deployment outside Europe.

China-Abu Dhabi JV wins $2.7bn Al Maktoum Airport terminal deal

CCECC and Tristar Engineering & Construction secured the AED10bn West Terminal substructure contract, MEED reported.

UAE, China discuss strengthening Comprehensive Strategic Partnership

Presidential Special Envoy Khaldoon Khalifa Al Mubarak met Chinese Foreign Minister Wang Yi in Beijing.

Dubai Maritime City leases 572,000 sq.ft in 9 months as revenue rises sixfold

DMC signed 18 new leases in the first nine months of 2026, led by ship repair and marine manufacturing.

Abu Dhabi unveils new season with over 40 major events

Abu Dhabi Calendar’s new season runs through the final quarter of 2026 and into early 2027.

Dell Technologies, Tahaluf to advance AI-powered smart city, public safety services

An MoU on AI solutions to help the UAE public sector enhance urban services and public safety.

Richmind achieves key construction milestone at RAK waterfront project

Richmind has completed shoring works at Oystra, its luxury waterfront project on Al Marjan Island.

92% of UAE travellers to holiday abroad in 2027: Skyscanner

Skyscanner’s Travel Trends 2027 report finds UAE travellers increasingly focused on value and experiences.

GCC achieves 100% coverage of basic health services for youth, adolescents

GCC-STAT data show full coverage for adolescents and young people, against a global rate of 68%.

AI investment keeps global growth around 3%, says IMF

Kristalina Georgieva warned AI also foreshadows a ‘slow-moving tsunami’ for labour markets, taxation and education.

UK growth upgraded but energy prices and rates to bite in 2027

The IMF now expects UK growth of 1.3% in 2026, up from 1%, before higher energy prices and rates slow growth in 2027.

Turnover Confidence Improves But Investment Still Struggling

The BCC’s Quarterly Economic Survey shows nearly half of firms expect turnover to rise, but investment intentions remain at a post-pandemic low.

Economy set to shrink ahead of Budget in ‘difficult’ outlook

City economists expect Thursday’s GDP data to show a 0.1% contraction in August.

Firms taking on new borrowing has doubled this year, survey finds

56% of business leaders took on new borrowing or credit in the past year, up from 28% in 2025, HSBC UK research shows.

Official Statistics: UK trade in numbers

The latest UK trade and investment statistics, drawing on ONS, DBT and UNCTAD sources.

UK-EU Summit Must Deliver

The BCC’s William Bain welcomed a date for the Leaders’ Summit and called for lower trading costs on food and plant products.

First ever UK-Germany tech corridor unlocks investment, jobs and opportunity for British business

A new Industrial Tech Corridor will help companies in both countries partner on investment and cutting-edge technologies.

Brexit U-turn? Burnham says he is taking ‘pragmatic’ approach on EU

The PM signalled a ‘pragmatic’ approach to EU relations a fortnight after suggesting a possible full return.

Businesses approved to export to the EU

Check whether your business in Great Britain or the Crown Dependencies is approved to export to the EU, and find your TRACES number.

India trade mission unlocks hundreds of UK jobs and new deals

A UK trade mission to India has secured hundreds of jobs and new deals for British businesses.

Joint Statement of 16th Meeting of the India–UK JETCO

The UK and India celebrated early FTA successes and agreed steps to maximise benefits for businesses.

Healey faces £35bn Budget challenge to meet spending pledges, says think tank

The IFS says meeting defence and health pledges without squeezing other departments needs a multi-billion-pound top-up.

Tesco urges Healey to slash ‘fundamentally unfair’ business rates

Tesco boss Ken Murphy called for business rates reform and warned against a so-called warehouse tax.

City bosses warn Healey hiking bank taxes could drive business out of UK

Leaders including the heads of UK Finance and the CBI signed a letter urging the Chancellor not to raise bank taxes.

HM Treasury Statistics: Timetable, standards and policies

HM Treasury’s statistics follow the UK Statistics Authority’s Code of Practice for accredited official statistics.

Milton Keynes Tech Week 2026 set to bring tech leaders together for a second year

Five days of events from 12 to 16 October bring together technology, creative and business leaders.

Stadiums are no longer simply venues, they must be seen as technology platforms

Stadium investment has focused on physical infrastructure while hosted businesses run separate systems and data.

Cambridge biotech startup Neela raises £2.1m to turn waste into aviation fuel

Neela Biotech’s AI-driven technology converts food, agricultural and forestry waste into sustainable aviation fuel.

New electric car ‘make or break for Jaguar’

An industry expert says the Type 01 is make or break for the brand, as JLR cuts 4,000 jobs.

Winners named for £1.6bn University of Oxford framework

Mace, McLaughlin & Harvey and Galliford Try join returning partners BAM, Willmott Dixon and Morgan Sindall.

Kier scoops £65m Thames Water sewage works haul

Four contracts to upgrade sewage treatment works in Hertfordshire, Buckinghamshire and Surrey.

Vinci bags £52m Norwich research glasshouses job

Vinci Building will build specialist research glasshouses and an insectary at Norwich Research Park.

Bennett Construction to build £132m Guildford scheme

Native Land appointed Bennett to deliver the main phase of the 180-home St Mary’s Wharf development.

McLaren clears Gateway 2 for £229m Ebury estate rebuild

The 334-home second phase is the largest of three in Westminster’s Ebury Bridge regeneration.

Lovell lined up to rescue £25m east London housing job

Lovell Partnerships is set to take over a stalled scheme following the collapse of Jerram Falkus Construction.

German investor pledges £1bn for UK affordable homes

PATRIZIA will add £1bn to its UK Essential Living Platform to deliver up to 4,000 affordable homes.

UK shoppers lead global secondhand boom as 87% buy pre-loved

Almost nine in 10 Brits bought pre-loved products over the past year, eBay research found.

Morrisons and Waterstones among names eyed for sale as private equity cashes out

Morrisons, PizzaExpress and Itsu are among high street names lined up for potential sales.

Tesco lifts profit outlook as consumer confidence ‘resilient’

Tesco raised its lower-end operating profit target to £3.15bn after a boost in online sales.

Boots to be bought by Canada’s Weston family for £6.7bn

Wittington Investments will buy Boots from Sycamore Partners and the Pessina family for $8.9bn.

Argos expands marketplace to 130,000 products in biggest range push

Argos plans to offer more than 130,000 products from vetted third-party sellers by the end of 2026.

HMV shuts flagship Oxford Street store just three years after comeback

HMV will close the store in March, blaming a doubled rent bill and the cost of substantial renovations.

Upper Crust owner sees sharp drop in passengers around Middle East travel hubs

SSP reported higher UK and Ireland sales but a sharp drop in passengers in regions around the Middle East.

Farming sector joins new taskforce to tackle floods and drought

The Flood and Drought Resilience Taskforce meets for the first time on 14 October, with more than 50 organisations.

Poor harvest and rising costs for apple farmers

Growers say this year’s exceptionally hot weather has meant smaller harvests and rising costs.

Major solar farm approved despite productive farmland fears

The 500MW Green Hill Solar Farm across Northamptonshire and Milton Keynes was granted consent on 8 October.

Featured  ·  Event report

DIFC Family Wealth Centre and Arab International Women’s Forum advance women’s leadership in family enterprise

DFWC and AIWF convened business leaders at DIFC for the ‘Women-Led Family Business in the Global Economy’ roundtable, part of AIWF’s 25th anniversary programme.

Latest tenders from the Bahrain Tender Board

The latest tender details were announced on the Bahrain Tender Board portal on 12 October.

Recent public tender announcements in Kuwait

See the Central Agency for Public Tenders website for recent announcements.

New listings on the Oman Tender Board

New tender details have been released on the Tender Board’s e-tendering website.

Live Qatar tenders

See Qatar Business Gate for details of live tenders.

Latest UAE government tenders

The latest government tender announcements are listed on UAE Business Gate.