Global power demand is set to grow by more than 3.5% per year on average over the rest of this decade, with electricity generation from renewables, natural gas and nuclear all expanding to keep pace, according to a new International Energy Agency (IEA) report.
The 2026 sovereign credit outlook for the Middle East region is stable thanks to the continued economic and credit resilience despite elevated geopolitical tensions and lower oil prices, said a S&P report, adding that the average regional growth is set to accelerate slightly to about 3.5%.
Union Bancaire Privée (UBP), one of the world’s largest family-owned private banks headquartered in Geneva, Switzerland, has appointed Fahd Iqbal as Head of Investment Services, Dubai.
With the Middle East and Africa (MEA) expecting a $3 trillion project pipeline in real estate and infrastructure between 2026-2030, the region is poised for sustained high performance in 2026, according to JLL.
The 2026 sovereign credit outlook for the Middle East region is stable, said S&P Global Ratings, reflecting its expectation of continued economic and credit resilience despite persistent and elevated geopolitical tensions and lower oil prices.
Emsteel Group, one of the region’s largest publicly traded steel and building materials manufacturers, has signed a strategic deal with Metal Park, the world’s first fully integrated, pay-as-you-go metals ecosystem, in a move aimed at boosting productivity and competitiveness for fabricators across UAE and wider region.
Penspen, a major provider of engineering and project management services, has announced a record year for 2025, securing 65 new contracts worth $456 million across the Middle East and Africa region. These included project management supervision, FEED, consultancy and detailed design contracts.
Emirates NBD, a leading banking group in the region, said it has successfully structured and completed a green facility for Arabian Gulf Steel Industries (AGSI), a leading private sector recycler in the UAE. AGSI will use the facility to boost its low-carbon steel production capacity.
Indian construction and engineering conglomerate Larsen and Toubro (L&T) said one of its key units has secured EPC orders - in the range of Rs50 billion to 100 billion ($551 million to $1.1 billion) - from leading utilities in the Middle East to establish electricity grid system elements across the region.
AtkinsRéalis, the global design and engineering consultancy, has announced plans to join forces with Futurecity, a leading cultural placemaking agency, in a move that will see the two work together on major projects in the region that will shape the future of Middle East cities.
