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foreign investment

Alabama Expands Trade with South Korea: New Business Office Opens in Seoul

by Lucas Fernandez – World Editor November 3, 2025

written by Lucas Fernandez – World Editor

Alabama Expands⁢ Global Presence with New⁢ Seoul Office to Boost Trade &⁤ Investment

SEOUL, South Korea – The Alabama Department ⁣of Commerce today announced⁢ the opening of a new business growth office in Seoul, South Korea, solidifying the state’s commitment ‍to strengthening economic ties with one of its most important international partners.

The Department has partnered with Samil PricewaterhouseCoopers (PwC),South Korea’s leading professional services firm,to represent Alabama’s business interests in the country. Samil PwC brings over 50 years of experience⁢ facilitating trade and investment for both public and ⁤private sector clients.

leading the Alabama-focused team will be Sean Blakeley, an international business development expert, supported by Carol Yelim Choo as Alabama’s dedicated Korea representative. Their core focus will be attracting⁣ Korean investment to Alabama, ⁣assisting Alabama companies with export opportunities, and coordinating participation in key trade events and business missions.

“South Korea has been instrumental in Alabama’s economic growth for over two decades, with investments like Hyundai ⁤transforming our communities and creating ‌thousands of jobs,” stated Ellen McNair, ⁣Secretary of the Alabama Department of Commerce. “A permanent presence in Seoul will further strengthen this vital partnership and position Alabama⁢ for continued success.”

Since 1999, Korean companies, primarily Hyundai Motor Group and its ‌suppliers, have invested $9.6 billion in⁤ Alabama, making South Korea a ‍top three international investment partner alongside Germany and Japan.

Christina Stimpson, Global business Officer for Commerce, emphasized the strategic importance of the new office: “With a dedicated team on the ground through Samil PwC, we can deepen ⁢relationships with Korean investors and better support Alabama ‌companies expanding into this key market.”

The Seoul office joins existing Alabama trade offices in‌ Stuttgart,⁢ Germany and Tokyo, Japan, extending the state’s reach across three of the ⁤world’s most dynamic economies and demonstrating a long-term commitment to global business engagement.

Hollie Pegg,Assistant Director of Commerce’s Recruitment and Retention Office,added,”This new office reflects our long-term commitment to‍ the Korean relationship,building on billions in investment,thousands of jobs,and a‌ shared sense of progress. ⁤We’re‍ excited to strengthen ⁤our partnerships and unlock even more opportunities for Alabama.”

November 3, 2025 0 comments

World

Alabama-Japan Economic Ties Strengthened at International Conference

by Lucas Fernandez – World Editor October 24, 2025

written by Lucas Fernandez – World Editor

Summary of the Article: Alabama Strengthens Economic Ties with Japan

This article details Alabama’s participation in the 47th Southeast US-Japan Conference (SEUS-Japan) in Tokyo, highlighting the state’s‌ long-standing and valuable economic⁣ relationship with Japan. Here’s a breakdown of the key takeaways:

* Strong Existing Partnership: Japan is a top 3 international investment partner for Alabama,with over 80 Japanese companies operating within the state,contributing over $10.1 billion in investment and creating more than 25,000 jobs since 1999. Key sectors⁢ include automotive⁤ and advanced ‌manufacturing.
* Keynote ‍Speaker: ⁤ US Ambassador to Japan, George Glass, will ‌deliver the keynote address.
*⁢ Alabama Delegation: ‌A large delegation representing Alabama’s economic progress officials, business leaders, elected ⁢officials, and partner organizations is attending ‌to network, hold meetings, and showcase Alabama’s benefits for ‌Japanese investment.
* New Alabama Office in Tokyo: A significant development is the formal opening of‌ an Alabama business development office in Tokyo, managed in partnership with Tractus, to further solidify the relationship.
* Commitment to Growth: Alabama officials emphasize a commitment to building on the existing foundation of mutual trust and respect to drive future innovation, growth, and success for both regions.
* Diverse Depiction: The delegation includes state commerce ⁤officials, ⁢lawmakers, representatives from Japanese companies with Alabama operations (like ⁤Mazda Toyota Manufacturing and Daikin), the Honorary Consul General of Japan⁣ (Alabama), ‍and economic development allies from various ⁣Alabama counties‌ and the TVA.
* SEUS-Japan’s Importance: The ⁢conference is described as a “cornerstone” of Alabama’s ‍international engagement, fostering relationships that lead to investment and possibility.

In essence, the article portrays Alabama‌ actively working to deepen its economic ties with Japan ‍through high-level meetings, a new physical presence in Tokyo, and a strong delegation demonstrating the state’s commitment⁣ to a long-term‍ partnership.

October 24, 2025 0 comments

World

Title: Gold as India’s New FDI: A Potential Solution

by Priya Shah – Business Editor September 7, 2025

written by Priya Shah – Business Editor

Rethinking India‘s Economic Strategy: From FDI Reliance to Unlocking Domestic ⁢Wealth

For decades,India has pursued a strategy centered on attracting Foreign Direct Investment (FDI) to fuel ⁣growth and address it’s persistent trade deficit. Though, a closer examination of India’s‌ economic landscape reveals a compelling argument ⁤for a shift in focus – towards mobilizing the considerable wealth already held within the country, notably in the form of⁤ household gold holdings.

India’s trade deficit, totaling approximately $1,700 billion over ⁣the last decade,⁢ is significantly impacted by gold imports. A staggering $400 billion of this deficit‍ is directly attributable to gold, creating a substantial drain on⁣ foreign exchange reserves. While⁣ official gold exports are modest ($10-15 billion), estimates suggest meaningful unrecorded exports ($50-100 billion), highlighting a complex dynamic. Reducing ⁤this ⁢reliance on⁣ gold imports is crucial for stabilizing India’s external accounts.

FDI has undoubtedly played a role in India’s development, bringing capital, technology, and expertise. Since 2000, India has attracted $750 billion in equity FDI. Though, the benefits⁣ are frequently ‌enough offset by substantial capital outflows in the form of profit repatriation and dividend payments – a trend exemplified by the nearly‌ $100 billion repatriated in FY25. The author points out a crucial paradox: while India once needed FDI, capital is no ‍longer scarce. Actually, significant capital ‍is leaving the country.

This⁣ changing reality underscores the need for a new economic approach.The author argues that India’s true wealth lies not in attracting foreign capital, but in unlocking the vast reserves held by its own citizens. specifically,the immense amount of gold held by Indian households represents a comparable,if not greater,pool of ‍capital than FDI inflows. The challenge, thus, is to devise a “creative scheme” to channel this domestic wealth into productive economic activity.

Furthermore, the composition of India’s foreign exchange reserves warrants reconsideration. While ⁤$225 billion is ⁣held in US Treasuries yielding around 4%, gold – comprising 10% of reserves – has delivered a significantly ⁤higher ten-year compounded annual growth rate of over 12%. Although gold is more volatile, its superior returns suggest a potential for optimizing reserve allocation.the author advocates for a shift in economic policy. India has matured as a market, and its focus should now be on leveraging its internal‍ resources. ⁢ By mobilizing domestic⁢ gold holdings and strategically ⁢managing foreign exchange reserves,⁣ India can reduce its reliance on external inflows and build a more enduring, internally-driven growth model. This requires innovative policies designed to unlock this dormant wealth and direct it towards productive investment, ensuring ⁢that the benefits of growth remain within the country.

September 7, 2025 0 comments

Business

Abu Dhabi & Dubai Stock Markets: Key Updates & Performance

by Priya Shah – Business Editor August 26, 2025

written by Priya Shah – Business Editor

Abu Dhabi & Dubai Markets ⁣Report⁢ – ⁣Yesterday’s Performance

Yesterday saw mixed performance across the Abu Dhabi and Dubai financial markets.

Abu Dhabi Securities Exchange ‍(ADX)

The ADX general index experienced a‍ slight ‌decline.⁢ Trading volume reached 869.56⁤ million dirhams, involving 246.32 million shares traded across 19,009 deals. 37 companies saw share price decreases, while⁣ 41 increased ⁤and 42⁤ remained stable.

Al-Alamiah Holding led in trading value, reaching 117.73 million dirhams, followed by Malagaplay (94.46‍ million dirhams), ADNOC Gas ⁤(83.38 million dirhams), and “houses” (75.34 million dirhams).

In terms ⁣of volume, Ishraq investment⁤ was ⁤the most actively traded stock with 32.6 million shares, followed by Mustablay (29.88 million shares), ADNOC Gas (24.58 million shares), and “houses”‍ (23.51 million shares).Several stocks saw gains: Mustablay‍ increased ⁤by 2.58% to close at 3.18 dirhams, ADNOC Gas rose by 0.89% to 3.4 dirhams, “houses” gained 0.57% ⁢to close at 0.351 dirhams, and ADNOC Drilling increased‌ by 0.72% to 5.55 dirhams.

Foreign and Arab investors demonstrated a net investment of approximately 19 ‍million dirhams in Abu Dhabi stocks, with purchases totaling 221.17 million dirhams against⁣ sales ⁤of 202.1 million dirhams. Gulf investors contributed ⁤a net purchase of 27.22 million dirhams,⁤ while other Arab investors showed ⁣a net purchase of 1.41 million dirhams.

Dubai Financial Market (DFM)

The DFM general index closed with ⁢a modest ‍increase of 9.48⁤ points, representing a⁣ 0.15% rise, to ⁣finish at 6135.37 points. 27 companies⁣ saw share price increases, compared to 18 declines ⁣and 6 that remained unchanged.

Total trading ‌value in Dubai reached⁣ 665.62 million dirhams, with 346 million shares changing hands through 13,729 transactions.

“Requests” topped the list of most actively traded stocks by value, reaching 189.9 million dirhams, followed⁤ by Emaar Real⁤ Estate (128.99 million dirhams) and Dubai Islamic Bank (47.23 million dirhams).⁤

By volume,”Requests” led with 162.54 million shares, followed ⁢by shuaa Capital (29.26 million shares) and ⁤Real Estate Union (15.82 million shares).

Notable gains were seen in‌ Al-Ittihad Real Estate‌ (1.18% to⁢ 0.853 dirhams), Emaar Real Estate ⁢(1% to 14.85 dirhams), and Dubai Islamic Bank (0.4% to⁤ 9.81 dirhams). Conversely, “Requests” decreased by ‌1.66% to close at 1.18 dirhams, and emirates NBD fell by‌ 1.53% to 25.6 dirhams.

Foreign‍ investors in the DFM recorded a net ‌outflow of 2.33 million dirhams, with purchases⁣ of ⁣342.15 million⁢ dirhams and ‌sales of 344.49 million dirhams.Financial institutions showed a net outflow of 41.16 million dirhams, with purchases of 439.51 million‍ dirhams and sales of 480.67 million dirhams.

The‍ market ⁢capitalization⁣ of shares traded in Dubai increased ⁣by 506 million dirhams to reach 1.051 trillion dirhams yesterday.

August 26, 2025 0 comments

News

2 former Israeli soldiers suspected of managing villas in Bali

by David Harrison – Chief Editor August 7, 2025

written by David Harrison – Chief Editor

Bali Villas: Immigration Probes Ex-IDF Soldiers Allegedly Running Luxury Business

Officials Investigate Foreign Nationals Suspected of Military Ties

Indonesian immigration authorities are actively investigating claims that two foreign nationals, believed to be former members of the Israeli Defense Forces (IDF), are operating upscale villas on the popular tourist island of Bali.

Ongoing Investigation Underway

Minister of Immigration and Penitentiary, Agus Andrianto, confirmed that a dedicated team is on the ground in Bali revisiting the alleged presence of these individuals. The Minister stated, “This is again checked now. The team is there again, again.”

During a recent sweep in Bali, immigration officials apprehended approximately 100 foreign nationals. However, the specific immigration violations committed by these individuals were not detailed.

Suspects Identified via Social Media

The two Israelis in question include a man reportedly named Shahar Gornen, who presents himself as a traveler and content creator. Social media analysis suggests Gornen managed an Instagram account, @gonenvillasbali, which showcased luxurious, modern tropical villas.

At the time of reporting, both the @gonenvillasbali account and Shahar Gornen‘s personal Instagram profile were set to private, limiting access to their content. However, cached versions of posts featuring the Bali villas remain accessible through search engines.

Entry and Visa Status Under Scrutiny

Unconfirmed reports indicate that Shahar Gornen entered Indonesia using documentation from Germany, leading immigration officials to initially identify him as a German national. He is believed to have entered on an investor Kitas (limited stay permit), valid until March 2026.

Gornen is reportedly residing in the Pererenan area of Badung Regency, Bali. His investor Kitas is sponsored by an Indonesian company, which acts as his guarantor. The Bali Regional Police have indicated their willingness to investigate any potential criminal violations associated with these individuals.

Immigration’s scrutiny comes as concerns mount over foreign nationals exploiting visa regulations. For instance, in 2023, the UK’s Office for National Statistics reported a significant increase in illegal working, with over 147,000 people identified as working without the correct permissions, highlighting broader challenges in border control and enforcement (Source: Office for National Statistics, 2023).

August 7, 2025 0 comments

Business

Egypt Dollar Rise: Economist Criticizes Hot Money Strategy

by Priya Shah – Business Editor August 6, 2025

written by Priya Shah – Business Editor

Cairo, Egypt – Economist Hani Tawfiq has voiced criticism regarding the recent decline in the dollar’s value, attributing it to indirect foreign investment in Egyptian treasury bills and bonds. This comes as the egyptian pound continues its ascent against the dollar, reaching a nine-month high.

Tawfiq, in a post on his official Facebook page on Wednesday, August 6, 2025, questioned the reliance on “hot money”-foreign investment in debt tools-to lower the dollar’s exchange rate. He suggested a shift towards strengthening the egyptian pound through more sustainable economic strategies. According to Tawfiq, approximately $40 billion has been invested through these debt tools.

“Is it not time to abandon the idea of lowering the dollar by hot money-foreign investment in debt tools-and instead start strengthening the pound?” Tawfiq wrote. He advocated for policies that stimulate foreign direct investment, increase state revenues, boost exports, and reduce national debt.

The exchange rate has been steadily improving as July, with the dollar currently trading at 48.4 Egyptian pounds for purchase and 48.5 pounds for sale in banks. This marks a notable recovery from the record high of 51.7 pounds reached in april, a period influenced by concerns over potential American customs duties and the partial withdrawal of foreign investors from emerging markets, including Egypt.

Bankers speaking to Masrawy attribute the dollar’s decline to increased foreign exchange inflows, driven by a thriving tourism season, remittances from Egyptians working abroad, and the aforementioned indirect investment flows. The tourism sector in Egypt has seen a resurgence, especially in popular destinations like Sharm el-Sheikh and Hurghada.

The Central Bank of Egypt recently reported a 69.6% increase in remittances from Egyptians working abroad, reaching $32.8 billion during the first 11 months of the fiscal year 2024-2025, compared to $19.4 billion during the same period last year. These remittances play a crucial role in bolstering Egypt’s foreign currency reserves.

Over the first nine months of the previous fiscal year, Egypt generated approximately $81 billion from five key foreign cash sources: tourism, exports, remittances from egyptians abroad, Suez Canal revenues, and foreign direct investment. The Suez Canal, a vital waterway for global trade, contributed considerably to these earnings, generating over $9 billion in revenue during that period.

Manal al-Masry reported this story from Cairo.

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August 6, 2025 0 comments

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