Turkish Exporters Target Africa

<p>At a time when struggling Turkish exporters are looking for ways to diversify their target markets, Africa is poised to become the new frontier market for Turkish firms as they position themselves to become major stakeholders in the region&rsquo;s rapidly growing industries.<br /> Africa has recorded an annual growth rate of 5 percent over the last decade and is expected to continue this trend in the coming years. Six out of ten fastest growing economies in the world are now in Africa. Economic predictions indicate that Africa will be a $29 trillion economy in 2050, larger than the 2012 combined GDP of the US and Eurozone. <br /> Turkey&rsquo;s exports to Africa in the last five years have tripled compared to its worldwide export volume, signalling a clear shift in the export focus towards Africa. Exports to African nations increased by 20.5 percent between 2011 and 2015, soaring to $12.5 billion in 2015 from $10.33 billion in 2011. At the end of 2014, Turkish direct investment in the continent stood at over $6 billion. <br />.... Read more »

Posted on : 11/23/2016

Dubai's DEWA says 200 MW solar project attracts 30 expressions of interest

Dubai Electricity and Water Authority (DEWA) has received expressions of interest from 30 parties interested in building a 200 megawatt (MW) concentrated solar power (CSP) plant, the firm said on Monday..... Read more »

Posted on : 11/15/2016

Saudi's ACWA Power establishes new unit for renewable energy projects

Saudi-based power and water project developer ACWA Power has set up a new business that will house its existing renewable energy portfolio and drive the firm's expansion in emerging market renewables, the company said on Wednesday..... Read more »

Posted on : 11/15/2016

Kuwait starts operating its first ever solar power plant

Kuwait began operating its first-ever solar power plant on Wednesday at the Umm Gudair oil field, a landmark for the OPEC member country as it seeks to diversify its sources of energy to meet fast-rising local demand..... Read more »

Posted on : 11/15/2016

Dubai's Phanes plans three solar plants in Nigeria

Dubai-based solar energy developer, investment manager and asset manager, Phanes Group, has announced it has acquired and will co-develop three 100MW grid-connected solar plants in Nigeria..... Read more »

Posted on : 11/15/2016

Abu Dhabi's Adnoc to raise oil production to 3.5m bpd by 2018

Abu Dhabi National Oil Company (Adnoc) plans to scale up its oil production target by 400,000 barrels per day (bpd) to 3.5 million bpd in 2018, according to the company’s 2030 strategy..... Read more »

Posted on : 11/14/2016

Abu Dhabi's ADNOC to increase $10bn Al Hosn project capacity by 50%

Abu Dhabi National Oil Company (ADNOC) and US-based Occidental Petroleum announced on Tuesday plans to expand the Al Hosn facility’s sour gas processing capacity by 50 percent..... Read more »

Posted on : 11/14/2016

Abu Dhabi's NPCC wins $141m oil field deal in India

Abu Dhabi-based National Petroleum Construction Company has won a $141 million contract from India’s Oil and Natural Gas Corporation Ltd..... Read more »

Posted on : 11/14/2016

Kuwait approves plan to set up its 'largest oil company'

Kuwait’s Ministry of Commerce and Industry (MCI) has approved a request by Kuwait Petroleum Corporation (KPC) to set up what would become the country’s largest oil company..... Read more »

Posted on : 11/14/2016

Warner Bros World Abu Dhabi set for 2018 opening on Yas Island

Abu Dhabi: Warner Bros. has announced a $1 billion Warner Bros. theme park in Abu Dhabi, which is expected to open by 2018, top officials in the capital said on Tuesday. The result of a partnership between the Abu Dhabi Tourism and Culture Authority and Miral, the $1 billion (Dh3.67 billion) project will feature a range of famous Warner Bros (WB) characters, such as Bugs Bunny, and is expected to create around 1,000 jobs in the emirate. .... Read more »

Posted on : 11/11/2016