UAE and Germany expand economic ties with a €40 billion cross-sector investment plan. This significant funding package emphasizes substantial investment in Germany’s digital infrastructure. A joint declaration from both governments outlined plans to develop new data centres with a combined capacity of approximately 1 gigawatt. Germany has committed to creating favorable conditions to facilitate these projects. The package forms part of a broader set of economic agreements unveiled during the state visit, with both nations also agreeing to collaborate more closely in technology, energy, trade, investment, and other fields covered by their bilateral relationship. During the visit, 29 business agreements and memoranda of understanding were signed between UAE and German companies. These agreements are collectively valued at over €9.356 billion, according to the joint declaration. Both governments also agreed to establish a German-UAE Investment Council, which will serve as a platform to promote investment and foster engagement between government agencies and private sector entities. Additionally, the UAE and Germany launched a Strategic Dialogue focusing on economic, technological, security, energy, transport, environmental, cultural, and educational cooperation. UAE investment plan emphasizes industry and digital infrastructure The €40 billion investment commitment builds on previous major UAE projects in Germany. According to the joint declaration, XRG has invested around €15 billion in Covestro. The two nations also identified additional corporate investment and partnership opportunities involving Covestro, RWE, ADNOC, and Masdar. These initiatives are separate from but complement the new investment package, which itself totals €40 billion.

UAE and Germany expand cooperation across investment, trade, energy and technology. The Strategic Dialogue aims to foster collaboration on regional security, defense, trade, investment, energy, climate change, digital transformation, transportation, education, and emerging technologies. Additionally, both governments signed a declaration of intent to create the German-UAE Investment Council, which will serve as a platform for public-private sector engagement on various investment initiatives. The resumption of the Joint Economic Committee adds a formal channel for bilateral economic and commercial discussions.

Gold prices moved slightly higher on Thursday as a softer US dollar bolstered the precious metal ahead of upcoming US inflation data. Spot gold increased by 0.3% to $4,414.28 per ounce by 0419 GMT. Meanwhile, US gold futures for December delivery dipped 0.1% to $4,457.20. The early gain maintained spot gold above the $4,400 mark after a sharp reversal during Wednesday’s trading session.