FDI in UAE reaches $12 billion in 2013

Updated 20 May 2014
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FDI in UAE reaches $12 billion in 2013

Fortress Investments, a major investment firm operating in the Middle East, says FDI investment in the UAE reached $12 billion in 2013 and is projected to grow 20 percent in 2014 to reach $14.4 billion.
The estimated growth rate in 2014 would represent a 260 percent increase over 2008, which not only demonstrates full recovery from the global financial crisis, but reflects huge future growth potential for the UAE economy that would offer greater investment opportunities, according to the investment firm.
“There is phenomenal investor interest in the UAE market. Dubai is now one of the most popular investment destinations among global investors. Many emerging sectors are attracting higher attention from investors, such as realty, ICT, education, tourism and entertainment,” said Hamed Mokhtar, MD at Fortress Investments. “Dubai’s attraction as an investment hotspot was never greater.”
Dubai’s successful Expo 2020 bid will ensure the investment in UAE market is lucrative in the medium term, as Dubai and the UAE would benefit from an estimated $6.9 billion earmarked for infrastructure projects around the event.
Dubai’s construction industry would benefit from the heightened new activity, but other sectors like travel, tourism, hospitality and retail would also gain during the run-up to the event and thereafter.
“Any significant investment should be carefully studied with the help of investment professionals,” Mokhtar said.
“Financial advisers provide clients with a clearer investment direction and a more prudent wealth management approach. Investors, irrespective of the size of their funds, often tend to be confused about the type of financial investments they should make and the timing they should choose. We offer practical financial solutions to guide and manage our clients’ existing business or simply their personal finances,” he added.
Fortress is a Dubai-based global leader in private banking and wealth management. Over the past two decades, the company’s versatile team of financial experts has acquired vast expertise and proficiency in global financial markets, and is fully equipped to deliver holistic solutions that would surpass clients’ expectations.


Tesla drops cheapest variants, pushing up prices in China

A man drives his electric car from Tesla Motors as he leaves an all-electric cars parking lot in Oslo on May 3, 2019. (AFP)
Updated 4 min 54 sec ago
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Tesla drops cheapest variants, pushing up prices in China

  • The automaker said it expected production and deliveries to continue growing in Q3

BEIJING: Tesla Inc. has dropped the standard-range variants of its Model X and Model S from its product lineup and adjusted prices across its range, in a sales push that comes days after the US electric vehicle maker reported record deliveries.
To simplify its offerings, the automaker on Tuesday limited variants of its Model X sport-utility vehicle and Model S sedan to “Long Range” and the more expensive “Performance.” It also trimmed the price of its now entry-level Long Range variants.
The discontinuation of the standard-range variants, however, means a rise in starting prices — to $84,990 for the Model X and $79,990 for the Model S, excluding potential buying incentives. Tesla also lowered the starting price of its mass-market Model 3 to $38,990.
“To make purchasing our vehicles even simpler, we are standardizing our global vehicle lineup and streamlining the number of trim packages offered for Model S, Model X and Model 3,” Tesla said. “We are also adjusting our pricing to continue to improve affordability for customers.”

HIGHLIGHTS

• Drops standard-range variants of Model X and S.

• Move means entry X, S cars are pricier long-range variants.

• Tesla delivered record number of EVs in the second quarter.

• Tesla is building a plant in China initially for Model 3 cars.

Earlier this month, Tesla said global deliveries of its three models in the second quarter of this year rose 51 percent from the previous quarter to a record 95,200 vehicles. The Model 3 accounted for about 80 percent of the total, underscoring the vehicle’s role as the linchpin of Tesla’s growth strategy. The automaker said it expected production and deliveries to continue growing in Q3.
In China, the world’s largest market for electric vehicles, Tesla’s changes on Tuesday pushed the starting price of its Model X to 790,900 yuan ($115,068) and Model S to 776,900 yuan.