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Finance & Investment

Banking, fintech, funds, capital markets and cross-border investment

Industry News
Source: Billionaires.Africa

China’s Sinohydro and Elsewedy Win $2.2 Billion Saudi Gas Power Plant Contract

A joint venture between China's Sinohydro and Egypt's Elsewedy Electric has secured a $2.2 billion EPC contract for a 2.3-gigawatt gas-fired power plant in Saudi Arabia. The Rabigh 2 IPP expansion facility is backed by ACWA Power and Saudi Energy, with commercial operations planned for May 2029. Financing includes $2.58 billion in long-term debt backed by 14 lenders, including the Industrial and Commercial Bank of China.

Policy & Legal Updates
Source: Morgan Lewis

CBUAE Introduces Updated Remuneration Rules for Banks and Insurance Companies

The Central Bank of the UAE has issued Circular No. 5/2026, introducing an updated governance and remuneration regime for banks and insurance firms. Regulated institutions must complete an internal gap analysis within 180 days and achieve full compliance within 15 months. The framework mandates stricter controls over risk-linked pay, incentive schemes, and annual compensation disclosures.

China–UAE News
Source: Emirates News Agency

UAE and China Hold High-Level Talks to Strengthen Strategic and Economic Cooperation

UAE Presidential Special Envoy Khaldoon Khalifa Al Mubarak met Chinese Foreign Minister Wang Yi in Beijing on October 13, 2026. The officials reviewed bilateral economic ties and agreed to expand cooperation in trade, investment, industrial development, and advanced technologies. The meeting was also attended by UAE Ambassador to China Hussain bin Ibrahim Al Hammadi alongside senior officials.

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