[TRSDC signs first $400 million joint venture with Al Mutlaq Group] Red Sea Development Corporation signed a joint venture agreement worth 1.5 billion riyals with Almutlaq Real Estate Investment Co., a subsidiary of AlMutlaq Group. Under the agreement, the two companies will develop Jumeirah Red Sea Resort, a 159-room luxury resort on Shura, the hub island of the Red Sea destination, which is currently under construction and is expected to open in early 2024. Editor/Xing Wentao

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• 2026.10.15 10:31
• [UAE's economic growth prospects are promising]
• In 2026, under global economic pressures such as geopolitical conflicts and rising energy prices, the United Arab Emirates will rely on its non oil industry advantages to consolidate its economic advantages. It is predicted that the UAE's economic growth rate will reach 7.7% in 2027, leading the regional energy export economy. Benefiting from the recovery of the energy market, non oil industries and artificial intelligence, and the reshaping of the global industrial chain. It is expected that the current account balance of the country will account for 4.8% and 7.8% of GDP in 2026 and 2027, respectively, demonstrating impressive performance among global technology demand growth economies.Editor/Gong Ziwei

• 2026.10.15 09:39
• [Chinese enterprise wins bid for Kenyan roads]
• In 2026, China Road and Bridge Corporation (CRBC) won a $24.81 million contract to upgrade 7 kilometers of old Mombasa Road in Nairobi, with a construction period of 18 months, driving demand for asphalt, pipe culverts, and streetlights.Editor/Gao Xue