investment

Siemens to invest $500mn on digital initiatives in the Middle East
The industrial conglomerate plans to establish the first two MindSphere application centres for digital applications in the UAE to transform data into real value
Investments in electricity take over oil and gas
Electricity investments have overtaken those in oil and gas for the first time ever on a spending splurge on renewable energy and power grids as the fall in crude prices led to deep cuts in 2016
Engie to step up investments in the Middle East
The Paris-listed company paid Dh2.8bn last month for a 40% stake in the district cooling company in which Mubadala Investment Company is the majority shareholder
Japan firms eye $18bn projects in Egypt
The announcement comes when Egypt is struggling to revive its economy after the 2011 uprising and subsequent unrest have driven away foreign investors and tourists
Schneider Electric to boost investments in Egypt
The company invests $26bn around the world, including $1bn in Africa, which accounts for a good share of the company’s sales
Sanabil and Saudi PPA acquire ACWA Power stake
Investors take 19.4% share in Saudi power giant

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