China companies expand in the Middle East
Greenland Group signs export deal with UAE distributor
On February 24, Greenland Group said its new energy vehicle (NEV) export platform had signed a partnership with UAE-based automotive distributor Worlink to export 5,000 Chinese-made vehicles to the UAE. The shipment will include mainstream NEV brands as well as popular gasoline-powered models, to be delivered in batches and distributed across the Gulf market.
Beyond trade, the two sides plan to co-develop a multi-brand car showroom and after-sales service center in Dubai. The facility will offer maintenance services, spare parts supply, and technical training. The initiative aims to strengthen the user experience and brand recognition of Chinese cars in the Gulf region.
Aito secures 200-unit order in the UAE
On February 26, Kang Bo, vice president of Seres, said that Aito had secured an initial order of 200 vehicles in the UAE, marking its first batch of sales in the Middle East market. He said UAE-adapted models are already in scheduled production and will be shipped upon completion. The company has not yet disclosed which models will be exported.
Earlier the same month, Aito announced a partnership with Abu Dhabi Motors to formally enter the UAE market.
Economic and policy developments
Dubai to roll out autonomous taxis
Dubai is preparing to roll out autonomous taxis this month, according to AGBI, which cited Dubai Taxi Company (DTC) CEO Mansoor Rahma Alfalasi. The company is expected to sign an agreement with an unnamed operator soon.
Initial deployment will focus on areas including Jumeirah, Downtown Dubai, and the vicinity of the Burj Khalifa. The first batch of 50–100 vehicles will operate with safety drivers before gradually transitioning to full autonomy. DTC reported 2025 revenue of AED 2.47 billion (USD 672 million), up 13% year-on-year, with 53 million trips completed during the year. The emirate continues to expand autonomous transport initiatives while extending ride-hailing services to other emirates.
Dubai Esports and Games Festival to return in May
Dubai Esports and Games Festival will return from May 8–24 for its fifth and largest edition to date, The Economic Observer reported.
The event will be followed by the GameExpo Summit, aimed at advancing investment and collaboration across gaming, esports, and interactive entertainment. Ahmed Al Khaja, CEO of Dubai Festivals and Retail Establishment, said the festival has evolved into a platform that reflects Dubai’s global ambitions in gaming, esports, and digital innovation.
UAE central bank to build sovereign financial cloud
The Central Bank of the UAE has partnered with Core42, a G42 subsidiary, to develop a sovereign financial cloud infrastructure, according to Zawya. The platform will provide licensed financial institutions with secure, segregated data environments to ensure data sovereignty and system resilience.
As part of the central bank’s financial infrastructure transformation program, the system will incorporate artificial intelligence and data analytics to enable real-time data processing, automation, and decision support. It will also offer a unified framework for managing multi-cloud services to improve operational efficiency and service continuity.
DIC and Alas to build new facility by 2026
Dubai Industrial City, or DIC for short, has signed an agreement with Alas Emirates Ready Mix to build a 160,000-square-foot plant, Zawya reported.
The plant will feature modern office and production facilities, along with energy-efficient mixing systems. It is scheduled for completion and operation in the third quarter of 2026.
Dubai Industrial City said the project will enhance the UAE’s domestic supply of high-quality concrete while supporting sustainable growth in the regional construction sector.
UAE AI fund announces first investments
Presight and Shorooq have announced the first five investments from their jointly established USD 100 million global fund, Presight-Shorooq Fund I, according to AGBI. Launched in 2024, the fund focuses on startups in AI, machine learning, and advanced data analytics.
From more than 1,000 applications, the fund selected four US companies and one Abu Dhabi-based startup. In addition to capital, Presight will provide portfolio companies with access to its cloud computing and GPU infrastructure.
Tesla begins supervised FSD testing in Abu Dhabi
Abu Dhabi has initiated supervised road testing of Tesla’s Full Self-Driving (FSD) System, Zawya reported.
The tests, the first of their kind in the emirate, are being conducted within an organized regulatory framework to evaluate system performance in real-world traffic environments and to collect safety and operational data. Authorities described the move as a step toward balancing innovation with road safety while advancing smart mobility solutions.
Saudi Arabia joins global AI partnership
According to Arab News, Saudi Arabia has formally joined the Global Partnership on Artificial Intelligence. The multilateral initiative, launched by the Group of Seven (G7) and hosted by the Organisation for Economic Co-operation and Development (OECD), now counts more than 40 member countries.
Saudi officials said membership will allow the country to participate in setting international AI standards, promote human-centric and responsible AI development, and strengthen international cooperation. The move is also expected to enhance Saudi Arabia’s attractiveness to investors and reinforce its tech ecosystem.
Saudi foreign reserves reach six-year high
Saudi Arabia’s net foreign assets rose 3% month-on-month in January to SAR 1.78 trillion (USD 475 billion), a six-year high, Arab News reported, citing central bank data. On a year-on-year basis, reserves increased 10%, or SAR 155.8 billion (USD 41.6 billion).
Authorities said the growth reflects strengthened fiscal and monetary capacity, supporting the riyal’s peg to the US dollar and bolstering resilience against global volatility while advancing Vision 2030 reforms.
Apparel Group to open 200 stores in Saudi Arabia
Retailer Apparel Group is accelerating its Saudi expansion with plans to open 200 new stores in 2026, Arab News reported. It also intends to introduce 25 additional fashion, food and beverage, and lifestyle brands, while increasing digital investment.
Its e-commerce platform 6th Street currently contributes about 10% of total sales, and it plans to launch a unified app integrating membership and e-commerce functions this year.
Since entering Saudi Arabia in 2007, the group has opened more than 800 stores in the kingdom, now its second largest Middle East market. It has established a regional headquarters and main distribution center in Riyadh and secured positions in several new shopping mall projects.
Saudi fiscal deficit widens in 2025
Saudi Arabia’s fiscal deficit reached SAR 277 billion (USD 74.8 billion) in 2025, exceeding earlier projections of SAR 245 billion (USD 66.2 billion) and more than double 2024’s SAR 116 billion (USD 31.3 billion) shortfall, according to AGBI.
The fourth-quarter deficit totaled SAR 95 billion (USD 25.7 billion), up 7% quarter on quarter, and marked the largest quarterly shortfall in nearly five years. Officials attributed the widening gap primarily to lower oil prices.
The government expects the deficit to narrow to SAR 165 billion (USD 44.6 billion) in 2026 and SAR 120 billion (USD 32.4 billion) in 2027. The economy is forecast to grow 4.4% in 2025, driven largely by 5% growth in non-oil sectors.
Saudi approves merger of competitiveness and business centers
According to Arab News, Saudi Arabia’s cabinet has approved the merger of its National Competitiveness Center and the Saudi Business Center to form a consolidated Saudi Competitiveness and Business Center.
Commerce minister Majid Al-Kassabi said the restructuring will improve the kingdom’s rankings in global competitiveness indicators and streamline business setup and operations in line with international best practices.
The new entity will operate a unified business platform and 20 branches across 15 cities, providing more than 6,000 government services.
Qatar launches new digital services
According to The Peninsula, Qatar’s Ministry of Commerce and Industry has introduced 36 new online services on its official website, covering lottery permits, seasonal promotions, clearance sales, and brokerage licenses.
The upgrade allows businesses to apply, amend, renew, and cancel services entirely online. The initiative supports Qatar National Vision 2030 and the third national development strategy by improving the business environment and promoting private sector growth and economic diversification.
5C partners with QIA to expand US lending platform
Private credit firm 5C Investment Partners has formed a partnership with the Qatar Investment Authority (QIA) to expand its US direct lending operations, AGBI reported.
Founded by former Goldman Sachs executives, 5C manages approximately USD 3 billion in long-term capital and provides financing to mid- to large-sized companies in commercial services, software, healthcare, and financial services. QIA said the investment will help 5C develop new strategies and financing solutions.
Apex opens office in QFC
Bermuda-headquartered financial services provider Apex Group has opened a new office in the Qatar Financial Centre (QFC) as part of its Middle East expansion, Gulf Times reported.
With more than USD 3.5 trillion in assets under administration, Apex’s move aligns with Qatar’s ambition to position itself as a regional financial hub under its 2030 national vision. The expansion follows its presence in Saudi Arabia, Abu Dhabi, Dubai, and Bahrain.
The CEO of QFC said Apex’s entry will deepen the local financial services ecosystem and enhance Qatar’s appeal to international fund managers and institutional investors.
QatarEnergy awards North Field West contract
QatarEnergy has awarded the engineering, procurement, and construction contract for its North Field West project, AGBI reported.
The project, with annual production capacity of 16 million tons, is the final component in its LNG (liquefied natural gas) expansion program and will raise Qatar’s total LNG output to 142 million tons per year.
The contract was awarded to a consortium comprising Technip Energies, Consolidated Contractors Company, and Gulf Asia Contracting Company. QatarEnergy expects the first LNG production before the end of 2031.
This article was adapted based on a feature originally written and published by Al Shasia. KrASIA is authorized to translate, adapt, and publish its contents.