Masdar, Taaleri acquire 8 energy projects
The hybrid renewable energy projects in Poland have 1Gw capacity.
Business
Arts & Culture
Cristiano Ronaldo’s Saudi debut ‘on hold’ over player quota
Riyadh, Saudi Arabia--Portuguese superstar Cristiano Ronaldo faces a wait to make his Al Nassr debut because the Saudi club have exceeded...
- When he was unveiled with great fanfare on Tuesday, the 37-year-old said he was keen to play as soon as possible, starting with Thursday's home game against Al Ta'ee.
- But Ronaldo, whose deal is worth an estimated 200 million euros to June 2025, is Al Nassr's ninth foreign player -- one more than the eight allowed by Saudi football authorities.
Business
ADIB ups ownership in ADIB Egypt
ADIB acquired 9.6m shares from National Investment Bank.
- ADIB acquired 9.6 million shares from National Investment Bank (NIB), representing 2.4 percent of ADIB Egypt’s share capital.
- The deal has raised ADIB UAE’s ownership in the Egyptian unit to 52.607 percent.
Economy
Dubai announces plan to ‘double’ the size of economy in next decade
The Gulf emirate's ruler, Sheikh Mohammed bin Rashid Al-Maktoum, unveiled in a series of tweets the Dubai Economic Agenda, dubbed...
- The new economic agenda would also add 400 cities to Dubai's list of trading partners, increasing foreign trade in the coming decade by 44 percent to 25.6 trillion dirhams.
- It would also see foreign direct investment in Dubai exceed 650 billion dirhams within 10 years, according to Sheikh Mohammed.
Economy
Qatar first on FDI Standouts Watchlist 2023: FDi Intelligence
Doha, Qatar-- Qatar ranks first among the world’s top destinations for foreign direct investment (FDI), owing to its strong economic...
- "FDI Standouts Watchlist 2023" by fDi Intelligence analyzes the macroeconomic and foreign direct investment (FDI) trajectory of the world’s top 50 FDI destinations.
- In 2022, the top sectors for FDI projects were Oil and Gas, financial services, and software and IT services, according to the report.
Business
Ducab partners with Vestas
Ducab's supplying medium voltage and earthing cable.
- Ducab Group is one of the UAE’s largest industrial manufacturing businesses.
- The move reinforces the strong industrial partnership between the UAE and Egypt.
Business
Dubai records over $518 million in realty transactions Monday
Dubai, UAE--Dubai recorded real estate deals worth AED2.3 billion ($518 million) on Monday, according to Dubai Land Department figures. The...
- The deals included 457 sales transactions worth AED2.02 billion, in addition to 79 mortgage deals of AED202.61 million.
- For the week ending Dec. 30, 2022, a total of 2,790 real estate transactions worth US$2.6 billion (AED9.6 billion) were registered in the emirate.
Science
Abu Dhabi introduces Mobile BSL-3 Laboratory
ABU DHABI, UAE - Abu Dhabi Public Health Center (ADPHC) has introduced the first of its kind mobile BSL-3 (Biosafety...
- The BSL-3 mobile laboratory will enhance the UAE capital's infectious disease preparedness through swift, safe and accurate testing of communicable diseases.
- The mobile laboratory will be accessible across four sites in Abu Dhabi.
Business
Qatar ports handle 140,000 tons of cargo in Dec 2022
Riyadh, Saudi Arabia-- The Qatar Ports Management Company (Mwani Qatar) said Sunday that it handled over 140,000 tons of cargo...
- Mwani Qatar said that it had received 267 cruises last December, with an increase of five percent, compared to the same period last year.
- It added that 6,263 vehicles and equipment, along with 38,867 heads of cattle and 45,985 tons of building and construction materials were received.
Business
Clean energy reaches 14 percent of Dubai’s total power production
DUBAI, UAE - MD and CEO of Dubai Electricity and Water Authority (DEWA) has announced that the production capacity of...
- Mohammed bin Rashid Al Maktoum Solar Park is the largest single-site solar park in the world using the Independent Power Producer model.
- Dubai's clean energy was also produced using photovoltaic solar power and concentrated solar power.
Business
10-day Citrus Festival concluded in Hail region of Saudi Arabia
Hail, Saudi Arabia---The second edition of the 10-day Citrus Festival, which was held in Hail region, has concluded after witnessing...
- General Supervisor of the Festival, Khaled Al-Batea said more than 80 participants displayed citrus products from all farms of the Hail region.
- During the festival, six workshops and a seminar on cooperative societies were held.
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Masdar, Taaleri acquire 8 energy projects
The hybrid renewable energy projects in Poland have 1Gw capacity.
Business
Company News
Latest News
Iran steel production to rise by 22% in two years to 55MT annually
Tehran, Iran -- Iran’s annual steel production capacity is expected to increase by more than 22 percent within the next...
Business
Saudi ministry inks economic pact with Alfaisal University
RIYADH, SAUDI ARABIA - The Kingdom's Ministry of Economy and Planning signed a deal with Alfaisal University to promote economic...
Economy
Nine works nominated for 9th Katara Prize for Arabic Novel
Doha, Qatar - The Cultural Village Foundation (Katara) revealed the lists of nine works that would be included in the...
Arts & Culture
Most Read
Business
Qatar’s Hamad International Airport named world’s second-best
London, United Kingdom -- Qatar's Hamad International Airport has been named as the best airport in the Middle East, and...
- At this year's Business Traveller Awards, the airport was also named as the best in the Middle East.
- After a multi-billion-dollar overhaul last year, the airport raised its capacity from 40 million passengers a year to 58 million.
Business
Turkey-China nuclear power plant deal possible soon: Minister
Dubai, UAE -- The talks between Turkey and China to build a nuclear power plant in eastern Thrace are progressing and...
- Senior officials from the Chinese government visited eastern Thrace and saw the sites where the construction is planned, Middle East Eye reported.
- Russia is already building a power plant in Akkuyu that will become partly operational next year.
Business
Lumi IPO 11.5 times oversubscribed
The daylong retail offering saw 124,900 investors subscribe.
- The number of shares allocated to retail investors reached 1.65 million, representing 10 percent of the total IPO shares.
- Lumi floated 16.5 million shares, or 30 percent of its SAR 550 million capital, divided into 55 million shares, on Tadawul.