#China

RENEWABLE ENERGY

China’s Sungrow inks deal with Saudi’s Algihaz for energy storage project

The project, expected to be delivered this year, will improve the stability and reliability of Saudi Arabia’s power grid.

China

China willing to strengthen trade with Saudi, commerce minister says

Yasir Al Rumayyan met with high-level officials in China including the minister of commerce and Beijing’s mayor

Aramco - oil supply to China

Saudi crude oil supply to China to rebound in August, regain market share

Saudi exports to China had tumbled in June, to 1.12 million barrels per day, the lowest since March 2020

OPEC projection for 2024 energy demand - oil

Oil prices climb on summer demand outlook

Recent data showed that oil production and demand for major products rose to a four-month high in April, supporting prices

G7 ITALY

What’s on the G7 agenda?

The summit is due to kick off on June 13 with a discussion about Africa, climate change, and development

Brent oil price forecast Bloomberg GettyImages-1384536093

Saudi crude oil exports to China to fall for 3rd straight month in July: Reports

July exports are expected to be down from about 39 million barrels in June, possibly the lowest levels for the year, say reports

Turkey imposes 40% tariff on vehicle imports from China

Turkey imposes 40% tariff on vehicle imports from China

The additional Turkish tariff will be set at a minimum of $7,000 per vehicle, with effect from July 7

Sinopec reportedly secures $1.1bn contract to construct gas pipelines for Aramco

Sinopec reportedly secures $1.1bn contract to construct gas pipelines for Aramco

The contract is for the procurement and construction of the third phase of the master gas system in Saudi Arabia

Saudi Arabia joins China and UAE in mBridge project

Saudi Arabia joins central bank digital currency project mBridge

The initiative was unveiled in 2021 to pilot cross-border payments in digital currencies issued by central banks

Etihad, Tawazun, GE partner to advance flight safety

Abu Dhabi’s Etihad, China Eastern form joint venture to boost growth

The commercial venture will be implemented in early 2025 when the two carriers secure governmental approvals

Qatar’s QIA to buy 10% stake in China asset manager

Qatar sovereign fund agrees to buy 10% stake in China asset manager

The potential deal would make the fund the third-biggest shareholder in ChinaAMC, which manages more than $248m (RMB1.8tn) in assets

UAE-CHINA-SUMMIT-1

UAE, China sign strategic agreements to enhance trade and boost Belt and Road Initiative

The UAE’s active participation in China’s BRI includes substantial investments and infrastructure development, reinforcing its role as a critical logistics hub

UAE CHINA

UAE President Sheikh Mohamed speaks at China-Arab Forum

Sheikh Mohamed highlighted the importance of the China-Arab States Cooperation Forum in a time when global solidarity is crucial to facing shared challenges

EGYPT CHINA TALKS

Egypt, Bahrain, Tunisia leaders head to China

The discussions are expected to address the Israel-Gaza conflict, the Palestinian issue, and a potential free trade agreement between China and Gulf states

UAE-CHINA

UAE President Sheikh Mohamed lands in Beijing for state visit

The visit comes amid growing trade ties between the UAE and China

President Sheikh Mohamed in South Korea

UAE President Sheikh Mohamed arrives in South Korea on first leg of Asia visit

During the state visit, the UAE president is expected to meet key business leaders, including Samsung Electronics Chairman Lee Jae-yong, and Hyundai Motor Group’s Euisun Chung among others

UAE-President-Sheikh-Mohamed-bin-Zayed-Al-Nahyan issues new law covering prison management in Abu Dhabi photo courtesy WAM

UAE President Sheikh Mohamed to embark on China state-visit

The visit will focus on strengthening bilateral relations and exploring further opportunities for cooperation, particularly in the economic, developmental, and cultural sectors

Chinese planemaker COMAC eyes Saudi Arabian market

COMAC’s planes fly almost exclusively within China and with one Indonesian airline, but the planemaker is looking to expand elsewhere

Oil August 1

Saudi crude oil supply to China ‘to fall’ by almost 6 million barrels

The volume of Saudi crude to be loaded for China is estimated to fall by 5.8 million barrels in June from 45 million barrels in May

Aramco in talks to acquire 10% stake in China’s Hengli Petchem

Aramco plans to bolster China investments with 10% stake in Hengli Petchem

The potential deal aligns with the energy firm’s strategy to expand its downstream presence in key high-value markets

China Southern inaugurates flights from Beijing to Riyadh

China Southern launches new flights connecting Beijing with Riyadh

The new routes reinforce Saudi Arabia’s commitment to boost the growth of the travel and aviation sectors

onion ban - India

India extends ban on onion exports indefinitely ahead of general election

Traders estimate that India accounts for more than half of all onion imports by Asian countries

Lubambe copper mine - IHCv - Vedanta

UAE conglomerate IHC looking to invest in Zambian copper deal

International investors in Africa are in a race to acquire long-term supplies for critical minerals

UN adopts first resolution on artificial intelligence

UN adopts first global artificial intelligence resolution

The nonbinding resolution, proposed by the US and co-sponsored by China and over 120 other nations, advocates the strengthening of privacy policies

IEA raises oil demand outlook again but still lags OPEC

IEA raises oil demand outlook again but still lags OPEC

Brent crude oil rose as much as 80 cents a barrel towards $85 after the IEA report was released, touching its highest since November

Saudi Aramco eyes more China investments

Aramco sees China demand growing, eyes more investments

The state-owned energy giant has been ramping up its China presence in a string of deals in refining and petrochemicals

Oil price advances as spreads signal market strength

Oil rises, markets await OPEC+ decision amid mixed demand drivers

A decision on extending the cuts is expected in the first week of March, with individual countries expected to announce their decisions

FAB targets Dhs300 million in revenue from China by 2026

Abu Dhabi’s FAB to triple revenue from China operations by 2026

The bank opened its fully licenced branch in mainland China in 2022 and grew its business there by 50 per cent in 2023

Global debt tops $313tn in 2023, says IIF

Global debt hits new record high at $313tn in 2023, says IIF

India, Argentina, China, Russia, Malaysia and South Africa registered the largest increases, signalling potential growing challenges in debt repayments

Oil hovers near 3-week high on Middle East tensions

Oil hovers near 3-week high on Middle East tensions, China demand

A bearish International Energy Agency report last week revised the 2024 oil demand growth forecast downward as the world shifts to cleaner energy