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.

EGA, Ma’aden tech cooperation

The agreement extends a Memorandum of Understanding signed initially in 2018.
  • The two firms will also consider cooperation in managing by-products from processes in the aluminum value chain
  • EGA has developed its own aluminum smelting technology for more than 25 years.

Emirates Global Aluminum (EGA) and Saudi Arabian Mining Company (Ma’aden), Saudi Arabia’s national mining company, will explore potential collaboration on technology in the aluminum value chain.

The companies will explore cooperation on aluminum smelting technology development, including novel technologies with lower greenhouse gas emissions.

EGA and Ma’aden will also consider cooperation in managing by-products from processes in the aluminum value chain and aluminum recycling.

The agreement extends a Memorandum of Understanding signed initially in 2018.

EGA has developed its own aluminum smelting technology for more than 25 years.

EGA has used its UAE-developed technology for every smelter expansion since the 1990s and has retrofitted all its older production lines.

Ma’aden operates the largest and most efficient vertically integrated aluminum complex in Ras Al Khair on Saudi Arabia’s east coast.