All of the convicted are men and 14 have been sentenced to a decade of "rigorous imprisonment"
asia5 hours ago
Saudi Arabia was the second largest FDI target, receiving $18 billion, an increase of 51 per cent, followed by the UAE, where inflows declined by 23 per cent to $8 billion.
A few large cross-border mergers and acquisitions (M&As) and the privatisation of financial services made Turkey the largest recipient with inflows doubling to $20 billion last year.
FDI inflows to the 14 economies of West Asia surged by 44 per cent last year to an unprecedented $60 billion, according to an annual survey of investment trends.
The World Investment Report 2007, published by the United Nations Conference on Trade and Development (UNCTAD), attributed the increase to the region's strong economic growth, improved business climate and high oil prices, which have been attracting increasing amounts of FDI in oil and gas and related industries.
There were also several major deals in telecommunications in Jordan and Turkey. Efforts by Gulf countries to diversify their production activities beyond oil-related activities succeeded in attracting greater FDI flows to the manufacturing sector.
FDI outflows from West Asia totalled $14 billion, an increase of five per cent. These targeted mainly oil and gas and related industries, telecommunications, tourism and financial services.
The value of cross-border M&As by investors from West Asia increased by 78 per cent, amounting to $32 billion, as a result of high oil prices and the current account surpluses of oil-producing countries.
About two-thirds of those M&As were targeted at developed countries, in particular the UK, 35 per cent by value, Canada 11 per cent and the US nine per cent.
Kuwait accounted for more than half of the region's total outward FDI, mainly in the telecommunications industry.
About 67 per cent of the total value of cross-border M&As involved firms from the UAE, the second largest investor from West Asia.
Other important sources of FDI were Bahrain, Turkey and Saudi Arabia.
The report said that in light of the region's high GDP growth and ongoing economic reforms, the upward trend in inward FDI to West Asia is likely to continue.
All of the convicted are men and 14 have been sentenced to a decade of "rigorous imprisonment"
asia5 hours ago
Many residents in the UAE stressed that maintaining these regular bedtime routines can be difficult as professional lives can often be quite demanding
uae6 hours ago
The UAE reaffirmed its consistent rejection of all forms of violence targeting civilians and undermining security and stability
uae6 hours ago
While you should definitely carry a jacket in the evenings, you should keep an umbrella at hand if you're heading to these areas
weather7 hours ago
A young child was among the dead, and more than 60 people were injured, some of them seriously
europe7 hours ago
Uthappa has represented India in 59 international matches and has been a popular figure in the Indian Premier League
sports7 hours ago
Research shows it is most common among teenagers and young adults, primarily because this age group places high value on peer validation
mental health7 hours ago
The licence can only be obtained after completing the required initial training with an accredited institution
aviation8 hours ago