Aramco, Sempra ink Port Arthur LNG royalties deal
Aramco's 25% participation in Port Arthur LNG Phase 2 aims to expand its gas portfolio and meet the world's growing...
Business
Economic outlook brightening but political risks loom large in 2024, say chief economists
Geneva, Switzerland – The latest Chief Economists Outlook released on May 29 presents a growing sense of cautious optimism about...
Economy
Economy
Gas giant Algeria slams EU gas price cap
Algeria "doesn't support the idea of limiting prices", Energy Minister Mohamed Arkab said, speaking a day after EU energy ministers...
- The EU price cap, agreed Monday after months of negotiations, will apply from February 15 and run for a year
- EU countries are worried that they will have a hard time filling gas storage tanks in time for next winter
Business
Nearly 2,000 business executives attend World Corporate Summit in Dubai
DUBAI, UAE - Nearly 2,000 global business executives and investors attended the World Corporate Summit in Dubai to share in...
- The business leaders were also building partnerships with over 100 roundtables, 20 networking sessions.
- The summit took a 360-degree view at ways to improve the world economy.
Economy
OPEC Fund approves over $500 million in new global development support
The 15 new projects approved reflect the OPEC Fund’s launch of a US$1 billion Food Security Action Plan and the...
- The 15 new projects approved reflect the OPEC Fund’s launch of a US$1 billion Food Security Action Plan and the adoption of its first Climate Action Plan earlier this year
- New engagements will support infrastructure development and investments to improve communities in the Fund’s partner countries around the world
Economy
Saudi Arabia, Azerbaijan ink 6 agreements, MoU
The agreements included the establishment of the Saudi-Azerbaijan Joint Business Council.
- The agreements included the establishment of the Saudi-Azerbaijan Joint Business Council
- The MoU was signed between the Saudi Fund for Development and the Azerbaijan Ministry of Economy
Economy
CBUAE projects real GDP to grow by 7.6% in 2022
In its Q3 review, the apex bank attributed the upward review to the robust performance of some non-oil sectors, including...
- In its Q3 review, the apex bank attributed the upward review to the robust performance of some non-oil sectors, including tourism, hospitality, real estate and manufacturing
- The review expected the non-oil GDP to grow by 6.1 percent in 2022, against 4.3 percent previously, with the oil GDP to expectedly grow by 11 percent this year
Economy
Banking, realty sectors drive UAE financial markets
Dubai real estate market recorded 476 sales transactions worth AED1.17 billion, in addition to 92 mortgage deals of AED181.95 million.
- Dubai real estate market recorded 476 sales transactions worth AED1.17 billion, in addition to 92 mortgage deals of AED181.95 million on Monday
- The Central Bank of the Emirates has raised its estimates of real GDP growth in the country to 7.6 percent at the end of the current year 2022
Geostrategy
Sharjah, Belgium discuss enhancing ties
SHARJAH, UAE - A Belgian delegation met with Sheikh Majid Al Qasimi, Director of the Department of Government Relations (DGR)...
- The two parties agreed on organising a Sharjah delegation visit to Belgium for strengthening bilateral relations.
- the Belgian Ambassador to the UAE expressed his interest in visiting universities in Sharjah to discover more partnership opportunities.
Business
EGA to supply CelestiAL solar aluminium to Kobe Steel
The agreement with Kobe Steel will see the supply of EGA’s CelestiAL solar aluminium to one of the largest rolling...
- The agreement with Kobe Steel will see the supply of EGA’s CelestiAL solar aluminium to one of the largest rolling mills in Japan
- EGA currently supplies thousands of tonnes of aluminium to Kobe Steel every year, in a business relationship that stretches back more than 25 years
FIFA readies 48-team World Cup as Eyes Turn to 2026
The enlarged competition represents a triumph for FIFA president Gianni Infantino, who made expanding the World Cup a priority after...
- For the first time, football's greatest tournament will be held across three host nations -- the United States, Canada and Mexico.
- The tournament will notably see an expansion to 48 teams, up from the current 32-team format that has been in place since 1998
Science
Dubai Supreme Council of Energy reviews efforts to achieve net-zero carbon emissions by 2050
DUBAI, UAE - Chairman of the Dubai Supreme Council of Energy Sheikh Ahmed bin Saeed Al Maktoum chaired the 73rd...
- The meeting discussed a proposal by ENOC to supply petroleum products to Al Maktoum International Airport through the Falcon Station in Jebel Ali.
- It also discussed the national system for trading carbon credits in cooperation with the Ministry of Climate Change and the Environment.
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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
Aramco, Sempra ink Port Arthur LNG royalties deal
Aramco's 25% participation in Port Arthur LNG Phase 2 aims to expand its gas portfolio and meet the world's growing...
Business
Company News
Latest News
30 Palestinian civilians freed under truce deal: Israel
The overnight releases, which came after a sixth batch of hostages were freed from Gaza, bring the number of Palestinian...
Israel’s security impossible without resolving Palestinian problem: Russia
United Nations - Israel’s security can be ensured only through a lasting solution to the Palestinian problem and Russia is...
Geostrategy
Aster to separate its India and GCC businesses
Dubai, UAE - Aster, an integrated healthcare provider, is separating its India and GCC businesses, subject to regulatory and corporate...
Business
Most Read
Economy
UAE to invest $20-25 bn in cash-strapped Pakistan
Abu Dhabi, UAE - The UAE and Pakistan recently sealed a significant deal, potentially injecting between $20 to $25 billion...
- The move comes as Pakistan grapples with economic challenges, including a balance of payments crisis and dwindling foreign exchange reserves
- Pakistan Prime Minister Kakar hailed the signing as a historic milestone that would elevate economic cooperation between the two nations
Geostrategy
Dubai Future Forum calls for creation of global framework
DUBAI, UAE: Governments and the United Nations should create an internationally adopted framework specifically designed to help solve global challenges,...
- The event examined the proliferation of AI and the future dynamics between humans and machines.
- It also discussed as to how the people and societies can adapt to rapid technological advancements.
Business
Ooredoo, QNBN sign agreement
The two companies will jointly develop Doha Port.
- The agreement represents a strategic partnership and reflects a commitment to driving innovation to build a more connected Qatar.
- Qatar National Broadband Network was established to implement the highest global standards in evolving telecommunication infrastructure.