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
Egypt raises fuel prices in quarterly review
The country raised the price of a litre of 80-octance gasoline from EGP7.5 to EGP8 (US$0.424), a litre of 92-octance...
- The country raised the price of a litre of 80-octance gasoline from EGP7.5 to EGP8 (US$0.424), a litre of 92-octance from EGP8.75 to EGP9.25 (US$0.49)
- The fuel committee convenes on a quarterly basis to assess the prices of petroleum products and amends them in accordance with the international price of Brent crude oil
Economy
UAE economic activity spikes in 1H22 on back of easing pandemic, high oil prices
Confidence in the positive short-term economic outlook increased despite the current decline in the Purchasing Managers' Index, the MOMR noted.
- Confidence in the positive short-term economic outlook increased despite the current decline in the Purchasing Managers' Index, the MOMR noted
- The June PMI declined to 54.8 from 55.6 in the prior month, marking the 19th-straight month of growth in non-oil private economic activities, the report added
Business
AI set to play key role in fight against climate change
Most of the public and private sector leaders believe that Artificial Intelligence is a valuable asset in fight against climate...
- Most of the public and private sector leaders believe that Artificial Intelligence is valuable asset in fight against climate change but insufficient expertize remains a challenge
- A latest Boston Consulting Group report cited the limited availability of AI solutions as a roadblock. It also pointed to lack of confidence in AI-related data
Business
GCC central banks should hike rates to combat inflation: L’AZURDE CEO
Inflation is an opportunity for a company to review strategically the portfolio of plans it offers, says L'azurde CEO.
- Inflation is an opportunity for a company to review strategically the portfolio of plans it offers, CEO L'azurde said
- Companies, he said, should review costs from A to Z, from employees to manufacturing, automation and investment in technology
Business
MEmob+ integrates blockchain technology, first MENA tech company to do so
MEmob+ has invested substantially in blockchain technology to offer its clients the most advanced and effective advertising services.
- MEmob+ has invested substantially in blockchain technology to offer its clients the most advanced and effective advertising services
- MEmob+ is now well positioned to enhance digital marketing activations and performance and has strict control over data flow and GDPR adherence
Economy
Visa-free travel to Saudi Arabia for GCC residents
Under the new visa scheme, all GCC residents with a valid resident and work visa issued by the UAE, Bahrain,...
- The informed sources at the ministry told TRENDS that the draft for the new scheme is ready and will be officially announced in the next few days
- Under the new visa scheme, all GCC residents with a valid resident and work visa will be allowed entry into Saudi Arabia for business, tourism, and Umrah purposes
Economy
Jordan extends reduction of general tax for vegetable oils
The decision to bring some relief to people follows in light of the high prices of vegetable oils globally.
- The decision to bring some relief to people follows in light of the high prices of vegetable oils globally
- The country also approved the integrated industrial partnership initiative for sustainable economic development signed between Jordan, the UAE and Egypt
Economy
UAE’s non-oil foreign trade surged to Dh527.5b in Q1-22
The minister added that the UAE's exports grew around 18 percent YoY to AED91 billion by end of Q1-22, noting...
- The minister added that the UAE's exports grew around 18 percent YoY to AED91 billion by end of Q1-22, noting that exports have doubled over the past five years
- Dr. Al Zeyoudi explained that the UAE's non-oil imports grew 25 percent during Q1-22 to AED292 billion, with re-exports hitting AED144 billion
Business
Expo Centre Sharjah plans to boost exhibition sector in eastern region
During a recent meeting at Expo Khor Fakkan, the Expo Centre Sharjah reviewed its strategic plans to organise a series...
- During a recent meeting at Expo Khor Fakkan, the Expo Centre Sharjah reviewed its strategic plans to organise a series of specialised events over the coming months
- The meeting also discussed future development plans and strategies, as well as the events and exhibitions that would be organised and held in 2023
Business
Hive mind: Tunisia beekeepers abuzz over early warning system
In Tunisia the beehive sector employs some 13,000 people and produces some 2,800 tonnes of honey.
- In Tunisia the beehive sector employs some 13,000 people and produces some 2,800 tonnes of honey
- The SmartBee app offers more than an early warning system and the data it collects also tells beekeepers about the productivity of each hive
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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
$128 billion in US company deals during Dubai Airshow: US Ambassador
Abu Dhabi, UAE - Martina A Strong, the US Ambassador to the UAE revealed on Monday that American companies secured...
Business
Israel reportedly pulls support for Saudi bid to host Expo 2030, to back Italy
Tel Aviv, Israel - Israel has reportedly withdrawn its support for Saudi Arabia’s bid to host the Expo 2030. The...
Geostrategy
Abu Dhabi’s EWEC opens Q4 2023 Clean Energy Certificates auction
ABU DHABI, UAE - Emirates Water and Electricity Company (EWEC) on Monday announced that it will conduct its Q4 2023...
Business
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Geostrategy
Biden, Netanyahu, Hamas positive on possible extension of truce in Gaza
The pause that began Friday has seen dozens of hostages freed, with over 100 Palestinian civilians released by Israel in...
- Netanyahu said that he had discussed the release of another group of hostages from the Gaza Strip with the US President
- Hamas also said it was willing to extend the pause after it freed more hostages, including a four-year-old orphaned by its attack
Business
Infracorp logs $29.8m profit
The company specializes in social infrastructure.
- Infracorp is currently restructuring its industrial portfolio to support its expansion in developing vital industrial infrastructure in Bahrain
- The company is expanding its investment portfolio in the hospitality sector and attracting several international names, including ROKA and Avli by tashas
Economy
Saudi, Turkey, Egypt among 16 nations viewing climate change as top concern
Riyadh, Saudi Arabia: Around 80% of consumers surveyed across 16 countries now view climate change as the world’s No. 1...
- Around 56% of Saudi consumers stated that they were willing to pay more to ride in a carbon-neutral taxi as against 40% of consumers in other countries
- Similarly, they were also willing to pay more for hotels, train tickets, broadband internet, groceries, computers, clothing, and smartphones