United Arab Emirates, 40 billion USD investments in Italy - Partnership focuses on energy, AI, critical minerals
The United Arab Emirates plans to invest $40 billion in Italy, the two countries said at a bilateral summit in Rome.
Italian Prime Minister Giorgia Meloni has pursued stronger ties with Gulf countries since taking office in 2022, ignoring concerns over human rights issues raised by political opponents.
Under her watch, Italy lifted arms sales embargoes to the United Arab Emirates and Saudi Arabia imposed by previous governments, related to the war in Yemen.
Meloni welcomed UAE President Sheikh Mohammed bin Zayed Al Nahya on a state visit to Rome and the two pledged to work towards a "Comprehensive Strategic Partnership".
"In this context, the United Arab Emirates has announced a commitment of $40 billion to invest in Italy across all key sectors," the two governments said in a joint statement.
More than 40 new agreements were signed in total, in areas including economic cooperation and investment protection, nuclear issues, and cultural heritage.
"This partnership focuses on strategic axes, such as artificial intelligence, data centers, space research, renewable energy and rare earths," Meloni added.
Italian energy company Eni said separately that it had signed a document with UAE companies to develop data centers in Italy, powered by natural gas power plants using carbon capture technology. Eni also signed a deal with the UAE state-controlled firm, making it the main buyer of renewable energy produced in Albania, under a tripartite agreement announced in January.
Poll
Computer fraud in the stock market - Police seize 4 real estate properties worth around 1.2 million euros!
The State Police informs that following the tracking and investigative work, for the ascertainment and seizure of assets deriving from criminal activities,......
Canada vs. Elon Musk? – Residents demand his citizenship be revoked!
At least 170,000 people have signed a parliamentary petition calling for Elon Musk to be stripped of his Canadian citizenship due to his role in the Trump......
US and Ukraine towards agreement on sharing the nation's natural resources!
The US this week will offer Ukraine a bilateral agreement which would guarantee the country's security in exchange for a shared share of the country's......
UN rejects US resolution and supports European call for Russia's withdrawal from Ukraine!
On the third anniversary of Russia's full-scale invasion, the UN General Assembly (UNGA) refused to adopt a US-backed resolution on Monday calling for an end......
Reconstruction of the Koman/Rama road: A reborn asset for the north and a strategic axis for tourism!
Prime Minister Edi Rama shared on social media today moments from the inspection in the municipality of Vau i Dejës, in Shkodra, of the new construction site......
Exchange rate/ The Dollar strengthens while the Franc loses points!
The US dollar has registered a slight increase in value from the previous day after being bought this morning at 94.2 lek and sold at 95.2 lek according to......
The former block will be turned into a pedestrian zone - The project is presented with the support of the global network "WALK 21"
In the former Blloku area, public spaces have been redesigned, giving priority to pedestrians, turning some of them into pedestrian areas. The Walk 21......
2024, the most difficult year for fashion designers - But the value of the goods sold ratio increases
Over the last 6 years, the country's garment exports have suffered a decline of about 20%. According to data from the Institute of Statistics, last year,......
