SABIC announces 16% H2 cash dividend
The dividend of $1.27 billion is payable on Mar 4, 2024.
Business
NEOM launches ‘Topian’ to ensure climate-proof agriculture in Saudi
NEOM, Saudi Arabia:Â NEOM, a mega-city project in Saudi Arabia characterized by futuristic urban planning and advanced technologies, Sunday announced the...
Business
Geostrategy
Dubai Customs makes 25.7m transactions, above 2100 seizures in 2022
Dubai, UAE-- Dubai Customs has completed 25.7 million customs transactions and made 2,147 seizures in 2022, while also winning several...
- Dubai Customs dealt with 388 intellectual property disputes in 2022, which included 14.5 million counterfeit items with a street value of AED 109.5 million.
- It was active in recycling counterfeit goods with more than 93 recycling operations taking place throughout the year that targeted 173,000 counterfeit items.
Geostrategy
Muslim world condemns burning of copy of Quran in Swedish capital
Secretary-General of the GCC Dr. Naif Falah Mubarak Al-Hajraf has warned that the act would inflame and provoke Muslims around...
- Secretary-General of the Organization of Islamic Cooperation Hissein Brahim Taha said the act is another example of Islamophobia and Xenophobia.
- Arab Parliament called on the international community to assume its responsibilities and criminalize these unacceptable acts, which fuel feelings of hatred and violence.
Business
IDB’s insurance arm, Masdar sign renewable energy pact
Jeddah, Saudi Arabia---The Islamic Corporation for the Insurance of Investment and Export Credit, the Islamic Development Insurance arm of the...
- The two parties agreed to develop renewable projects through insurance support to the Islamic Corporation for the insurance of investment and export credit in the member states.
- It includes support for the transition to clean energy through electricity generation from renewable sources that do not emit emissions and the transition to green economy.
Business
AD Gaming partners with AA Meta
They will develop Abu Dhabi’s Web3 Blockchain Gaming ecosystem.
- AA Meta provides metaverse infrastructure and Web3 technology solutions that enable next-generation gaming.
- Alongside using this technology for its own projects, AA Meta provides its offering to other gaming businesses as well.
Business
ADNOC Distribution to go for 25 percent cut in carbon intensity by 2030
ABU DHABI, UAE - ADNOC Distribution on Friday announced plans to reduce its carbon intensity by 25 percent by 2030....
- This reduction in carbon intensity will be implemented by putting sustainability at the core of its day-to-day operations to future-proof its business.
- The company said it will install solar panels to power service stations and use biofuels in its fleet of vehicles.
Business
TAQA acquires stake in Taweelah
TAQA took up the operation and maintenance of the plant.
- As part of a transaction valued at US$65 million (approx. AED239 million), TAQA has completed its acquisition from BTU Power Company.
- TAQA acquired an additional 10 percent ownership stake in the owner of the Taweelah B IWPP – Taweelah Asia Power Company.
Business
TAZIZ, PROMAN sign pact
They will build UAE’s first world-scale methanol production facility.
- The facility has an anticipated annual capacity of up to 1.8 million tons.
- The facility has an anticipated annual capacity of up to 1.8 million tons. Methanol has a variety of uses including in fuels, solvents, pharmaceuticals and construction materials.
Business
Saudi approves Implementing Regulations of New Companies Law
Riyadh, Saudi Arabia--Saudi Arabia's Capital Market Authority's has approved the Implementing Regulations of the New Companies Law for listed joint...
- The approval is based on the authority the Law granted to the CMA to regulate the matters and subjects stipulated in the law related to joint stock companies.
- It also included stipulating the provisions that aim to raise the level of governance of the board of listed joint stock companies.
Arts & Culture
Saudi herders use ‘special language’ to train camel
The mode of communication, known as Alheda'a, was inscribed last month on UNESCO's list of intangible cultural heritage.
- A skilled camel herder can use his voice alone to soothe an animal, make it kneel and even signal a change in direction as they trudge together through desert sands, said UNESCO.
- Alheda'a can be deployed for a range of tasks: bringing together a scattered herd threatened by a coming sandstorm, for example, or soothing camels as they drink water.
Business
ADNOC, TAQA mobility JV
They will build and operate electric vehicle infrastructure in Abu Dhabi.
- The partnership will include a network of fast chargers at key locations, featuring associated solutions such as parking and tolling services.
- Demand for EVs in the UAE market is projected to see a compound annual growth rate of 30 percent between 2022 and 2028.
SABIC announces 16% H2 cash dividend
The dividend of $1.27 billion is payable on Mar 4, 2024.
Business
Company News
Latest News
Investcorp portfolio firm listed
The firm, PT Multitrend Indo, was listed on the Indonesian stock exchange.
Business
Alpha Dhabi acquires stake in Metito
With this deal, Alpha Dhabi marks entry into water and wastewater domain.
Business
UAE most competitive MENA economy
The 2023 IMD World Competitiveness Ranking placed the UAE among the world's 10 most competitive economies.
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Geostrategy
UAE foreign minister participates in high-level meetings of UNGA 78
New York, United States -- Sheikh Abdullah bin Zayed Al Nahyan, UAE's Minister of Foreign Affairs, hosted a reception at...
- A reception hosted by the minister focused on the theme of delivering on global climate progress at COP28, which will be held in the UAE in November.
- Sheikh Abdullah also met foreign ministers of Djibouti, Costa Rica, Israel, Estonia, Malta, Finland, Bulgaria, and Kyrgyzstan.
Geostrategy
Several UAE entities sign pact to implement ‘Sharjah Sat-2’
Sharjah, UAE -- A cooperation agreement was signed between the Sharjah Academy of Astronomy, Space Sciences & Technology (SAASST), the...
- Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah and President of the University of Sharjah (UOS), witnessed the signing.
- The outcome of this project will help diverse parties in making decisions, developing future plans, and conducting scientific research.
Geostrategy
Iraqi PM planning to visit Moscow in coming weeks: Foreign Minister
Baghdad, Iraq -- Iraq is working to complete the necessary preparations for the visit of Prime Minister Muhammad Shiaa Al-Sudani...
- Foreign Minister Fuad Hussein met with his Russian counterpart Sergey Lavrov on the sidelines of UN General Assembly.
- "The two sides discussed prospects for joint cooperation and developing bilateral relations between the two countries," Iraqi foreign ministry said.