China companies expand in the Middle East
Sany Truck enters Saudi market
On May 6, Saudi Arabia’s Alkhorayef Commercial Company signed a memorandum of understanding with China’s Sany Truck at Sany’s headquarters in China. Under the agreement, ACC will become Sany Truck’s exclusive distributor in Saudi Arabia, marking Sany commercial trucks’ official entry into the Saudi market.
ACC will establish a full sales and service system in Saudi Arabia, with operations starting immediately after the signing. Its work will cover a dedicated sales team, a nationwide after-sales and spare parts network, and fleet financing solutions.
Dubai Chambers, CCPIT Fujian discuss deeper cooperation
On May 7, Dubai Chambers held talks with the China Council for the Promotion of International Trade (CCPIT) Fujian to explore ways to strengthen bilateral economic, trade, and investment ties.
Mohammad Ali Rashed Lootah, president and CEO of Dubai Chambers, and Zhong Muda, chairman of CCPIT Fujian, attended the meeting. The two sides focused on the prospects for business cooperation and economic partnerships, exchanging views on key sectors where companies in Dubai and China have shared investment and trade opportunities.
CPECC signs long-term agreement with Saudi Aramco
The China Petroleum Engineering and Construction Corporation (CPECC) has signed a long-term agreement with Saudi Aramco in Dammam, Saudi Arabia.
The agreement places CPECC among Saudi Aramco’s long-term agreement contractors for brownfield facility upgrade and renovation projects. It also establishes CPECC as an important partner for Saudi Aramco’s brownfield projects, laying a foundation for the company to deepen its presence in the Middle East’s high-end energy engineering market and accelerate its expansion in Saudi Arabia.
Economic and policy developments
UAE airspace returns to normal operations
The UAE’s General Civil Aviation Authority announced on May 2 that air navigation operations in UAE airspace had fully returned to normal, with previously implemented temporary precautionary measures officially lifted, according to the Emirates News Agency.
The decision followed a comprehensive assessment of operating conditions and the security situation, as well as coordination with relevant authorities. The civil aviation sector will continue real-time monitoring to ensure aviation safety remains at the highest level.
“Make It In The Emirates” opens in Abu Dhabi
The fifth edition of “Make It In The Emirates” took place in Abu Dhabi from May 4–7, GCC Business Watch reported.
The event is regarded as the UAE’s largest industrial gathering to date, focusing on 12 priority sectors including advanced manufacturing, aerospace and defense, pharmaceuticals, energy, mobility, sustainable materials, and technological innovation.
It aimed to connect national industrial priorities with investment opportunities, accelerate localization, strengthen industrial competitiveness, and expand the UAE’s position as a global manufacturing and export hub.
ADX launches integrated trading service
The Abu Dhabi Securities Exchange (ADX) Group has launched an API-driven platform that integrates fund transfers, trading, and portfolio management services into a single workflow, Zawya reported.
Brokerages and UAE banks can embed the services into their own platforms, allowing clients to complete fund transfers, trading, and portfolio management in one place.
Abu Dhabi’s IHC nearly doubles profit in Q1
Abu Dhabi-based International Holding Company (IHC) reported a 98% year-on-year surge in first-quarter net profit to AED 8 billion, while revenue rose 33% to AED 31 billion, per AGBI.
The growth was mainly driven by broad-based improvements across its core business segments, with particularly notable revenue growth in energy and mining. Its hospitality and leisure business also doubled its contribution. Meanwhile, IHC is continuing to deploy capital into high-potential sectors and accelerate the transformation of its platform companies into global businesses.
Saudi PIF opens second mainland China office
Saudi Arabia’s Public Investment Fund (PIF) has opened its second office in mainland China, located in Shanghai, to deepen investment ties with China, according to AGBI.
The office was registered last year and began operations in early 2026. It is intended to support PIF’s outbound investment deals in China, identify local opportunities, and attract Chinese capital to Saudi Arabia.
PIF manages more than USD 1 trillion in assets and recently approved a new strategy for 2026–2030 focused on improving investment returns and expanding private sector participation.
PIF plans new bond issuance
Saudi Arabia’s PIF plans to issue three tranches of benchmark-sized bonds as it returns to international debt markets to finance economic diversification projects under Vision 2030, Arab News reported.
The issuance includes three-year, seven-year, and 30-year bonds. Initial price guidance was set at spreads of about 130, 135, and 170 basis points over US Treasurys, respectively. Citi, Goldman Sachs, HSBC, and JP Morgan are serving as joint global coordinators.
IBM, Saudi Aramco expand AI cooperation
IBM and Saudi Aramco are expanding their cooperation in artificial intelligence, cloud computing, and industrial innovation to advance digitalization across Saudi Arabia’s energy and industrial sectors, according to Arab News.
The companies will integrate advanced AI tools and cloud infrastructure into Aramco’s operations, covering large-scale industrial scenarios such as oil and gas production, refining, logistics, and supply chains. The effort is intended to improve efficiency, predictive maintenance, and emissions monitoring. It also aligns with Saudi Arabia’s Vision 2030 and supports the development of a domestic technology ecosystem.
Chinese automakers capture nearly 30% of Qatar market
According to Gulf Times, Mohamed Jaidah, executive director of Jaidah Group, said in a video program that Chinese automakers have captured nearly 30% of Qatar’s automotive market in just two years, reflecting a significant shift in how local consumers view mobility.
Over the next decade, Qatar’s automotive and mobility sectors will continue to transform, with the public and private sectors working together to reshape the market and create new opportunities.
Doha Bank launches digital customer kiosk
Doha Bank has launched its first digital customer experience kiosk, designed to provide faster and more convenient self-service banking, Gulf Times reported.
The kiosk reportedly uses an intuitive interface and allows customers to independently complete essential services, including instant card replacement, issuance of IBAN and balance certificates, real-time account inquiries, and complaint management. The aim is to sharply reduce processing times and improve service convenience through digital tools.
QFTH opens applications for pre-accelerator program
Qatar Fintech Hub (QFTH) has opened applications for the eighth cohort of its pre-accelerator program, according to Fintech News.
The program will run from June to September in a hybrid format. It is designed to recruit early-stage startups that have at least a minimum viable product and are seeking to enter the Qatari market. Participating companies will receive structured support, regulatory guidance, and the opportunity to enter Qatar Central Bank’s sandbox.
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.