Masdar, Taaleri acquire 8 energy projects
The hybrid renewable energy projects in Poland have 1Gw capacity.
Business
Geostrategy
UN urges ceasefire in Yemen’s Marib for ‘safe passage’
The security situation has been particularly difficult in Marib's Abdiya district, where the UN says the movement of aid and...
- Many displaced people have been caught in the line of fire in Marib, home to around 2.2 million refugees.
- The Huthis began a big push to seize Marib in February and, after a lull, they renewed their campaign in September.
Arts & Culture
For one week, Oman center-stage at T20 World Cup
The grass pitches of the 3,000-seat Al Amerat site are a long way from the days when cricket was first...
- Oman are playing in the T20 World Cup for the second time after a 2016 debut saw them stun Ireland at spectacular Dharamsala.
- Ranked 18 in the world, they have to negotiate a qualifying round which includes Bangladesh, Papua New Guinea and Scotland.
Expo 2020 DUBAI
France takes to the skies to celebrate Expo 2020 National Day
DUBAI:Â France celebrated its 'Expo 2020 National Day' with celebrations in the skies and across ten locations, with the main activities...
- The official ceremony took place at Al Wasl Plaza in the presence of France Minister of Europe and Foreign Affairs Jean-Yves Le Drian.
- The 'National Day' celebrations took place across ten locations.
Business
Hyperloop to become a reality in years, not decades: CEO DP World
Hyperloop, which is expected to transport passengers and freight at a speed of an airplane, could become a reality before...
- Sultan Ahmed bin Sulayem said India and Saudi Arabia might roll out the transport system first.
- DP World has invested in Virgin Hyperloop, which tested human travel in a hyperloop pod for the first time in 2020.
Geostrategy
Iraq’s election: how it works, factions that are likely to dominate
A total of 329 seats are up for grabs in the election, which was moved forward from 2022 as a...
- There are fears voter turnout could drop below the 44.5 percent figure registered in 2018.
- More than 25 million citizens are eligible to vote. They are supposed to present a biometric card for what was conceived as a fully electronic voting process.
Geostrategy
Iran, Saudi hold new round of talks in Iraq
The discussions, hosted by Iraq as it seeks to act as a regional mediator, were launched under Iran's former, moderate...
- US ally Saudi Arabia and Washington's arch-foe Iran are at odds over many regional issues, including the wars in Yemen and Syria.
- The talks have led to "serious progress" regarding Gulf security, Tehran's foreign ministry spokesperson Saeed Khatibzadeh said on September 23.
ACWA Power final IPO price nearly $15 per share, targets raising $1bn
The company expects to raise more than $1 billion from the public offering, valuing the company at about $10 billion.
- Retail offering started on Wednesday and will run until Oct. 1
- ACWA is considering issuing green bonds in 2022 and beyond to raise funds for some renewable energy projects.
Geostrategy
Transformative projects focus of new UAE cabinet
The government work 'will be led by major transformative projects and not just long-term strategic plans, says Sheikh Mohammed.
- The new strategy comes with the government's previous plan, UAE Vision 2021, through which the emirates has achieved all its goals in the past 10 years, Sheikh Mohammed said.
- Unlike previous 5-10 year cycles, the coming cycles of change will be flexible and six months to two years long, he added.
Business
Arkan launches digital platform
Medical, lab supplies and equipment can be purchase online.
- The platform provides a user interface for B2B procurement management.
- Arkan said the launch in sync with Saudi Arabia Vision 2030.
Business
Facebook may launch digital wallet
The wallet, Novi, would let users store cryptocurrencies.
- Facebook said in 2019 it planned to introduce a cryptocurrency called Libra, which changed its name to Diem in 2020 after facing regulatory resistance.
- Company says it would have preferred to release Novi alongside Diem, but the latter's timing was uncertain.
Masdar, Taaleri acquire 8 energy projects
The hybrid renewable energy projects in Poland have 1Gw capacity.
Business
Company News
ADNIC net profit $55.64m
Business
Latest News
Qatar realty market trading volume $277 million in August
Doha, Qatar -- Qatar real estate market recorded deals worth QR1.011 billion ($277 million) in the month of August 2023,...
Business
Russia’s Sberbank launches new tourism-oriented services in Iran
Tehran, Iran -- Russia’s largest lender, SBERBANK, is presenting a new service that allows its clients to transfer money to...
Business
Global rice prices hit 15-year high after India curbs: FAO
Rice is a major world food staple and prices on international markets have soared in the wake of the Covid...
Economy
Most Read
Business
ENOC Group, Kawasaki renew partnership
The pact was signed through ENOC partner CKW Enterprises.
- The agreement grants Kawasaki access to ENOC Group’s advanced lubricants from top-tier mineral oils for regular bikes to fully synthetic oils designed for high-end bikes.
- ENOC said the new products meet an array of standards including, API SP and JASO T903: 2023 MA-2, guaranteeing best-in-class oil thickening and wear protection.
Business
TAQA’s $1.5bn dual-tranche bonds listed on Abu Dhabi Exchange
Abu Dhabi, UAE -- Abu Dhabi National Energy Company (TAQA's) dual-tranche $1.5 billion bonds were listed on Abu Dhabi Securities...
- The five-year $500 million notes, maturing in 2029, were issued as conventional bonds with a 4.3 percent coupon.
- The 10-year $1 billion tranche, maturing in 2033, was priced with a 4.6 percent coupon – with coupon payments being made to bondholders on a semi-annual basis.
Economy
Saudi non-oil activities push Q2 economic growth to 1.2%
Riyadh, Saudi Arabia -- Saudi Arabia’s real GDP grew by 1.2 percent in the second quarter of 2023, compared to...
- A GASTAT report showed a 6.1% increase in non-oil activities over 2022, a 2.3% increase in government activities over 2022, and a 4.3% decrease in oil activities.
- According to the report, seasonally adjusted real GDP decreased by 0.2 percent in Q2 of 2023 compared to the Q1 of 2023.