Search Site

TAQA Q1 net income $571m

Net income fell $2.58bn due to one-off items recognized in 2023.

QatarEnergy buys stake in Egypt blocks

It did not disclose the cost of the agreement.

TSMC’s April revenue up 60%

It capitalized on huge wave of demand for chips used in AI hardware.

Etihad reports record Q1 profit

Total revenue increased by $269 million in the same period.

Aramco Q1 profit down 14.5%

Despite lower profit, it will pay $31bn in dividends to Saudi government.

RTA eyes futuristic suspended transport network in Dubai

    • The use of this type of transport in Dubai is aimed at accelerating the mobility of people

    • Using suspended transport network will also help curb traffic congestion

    Dubai may soon have a suspended transport network, with its Roads and Transport Authority signing a Memorandum of Understanding with China-based Zhong Tang Sky Railway to explore the opportunity, said local reports on Monday, June 7.

    The reports quoted an RTA statement as saying that the agreement is part of Dubai’s efforts to develop a futuristic transport network.

    The use of this type of transport in Dubai is aimed at accelerating the mobility of people, providing affordable mobility solutions, besides encouraging the community members to use them and help curb traffic congestion, the statement added.

    The signing ceremony was attended by top officials including Jaber Al Bahandi, chairman of Centurion Company — the UAE representative of Zhong Tang Sky Railway Group — and Tariq Al Bahandi, head of Development at Centurion.

    “Realizing this objective requires developing advanced futuristic transport systems and improving the sustainable transport network in Dubai to encourage people and visitors to use public transport,” said Rail Agency CEO Abdul Mohsen Ibrahim Younes.

    According to him, the RTA is aligning its efforts with the national agenda to nurture a sustainable environment in terms of air quality and reliance on clean energy.

    “We are signing MoUs with a host of specialist companies in the development of suspended transport systems to identify the technologies used in this sort of mass transit means. We will be able to screen and obtain the best technologies and select the best systems for implementation in Dubai,” he said, according to the local reports.