Middle East conflict exposes hydrogen supply risks: IEA
Dubai, UAE -- The conflict in the Middle East has disrupted production and trade in hydrogen-based products, exposing vulnerabilities in...
Geostrategy
US-Iran framework centers on investment fund, sanctions waiver and nuclear talks
At the center of the memorandum of understanding is a proposed $300 billion private investment vehicle, known as the Reconstruction...
Geostrategy
Business
Dubai Investments buys GFP stake
GFP secures nearly $60 million in equity financing to expand its network.
- GFP aims to create the leading fertility network in the region, and one of top 10 globally, according to a statement.
- Saudi Arabia will be the focus of the investment. GFP’s facility in Riyadh is currently under construction and is due to commence operations later this year.
Business
Qatar’s foreign merchandise trade surplus $5.13 billion in Dec 2023
Doha, Qatar - Qatar's foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus...
- The trade balance showed a decrease of about QR 9.5 billion, or 33.7 percent, compared to December 2022.
- The YoY decrease was mainly due to lower exports of Petroleum Gases and Other Gaseous Hydrocarbons.
Business
Egypt exploring dirham, rupee bond issue: Finance Minister
Hong Kong -- The Egyptian government is mulling over the possibility of issuing bonds for the first time denominated in...
- The move is part of the ministry's pursuit of a diversified financing strategy, encompassing multiple markets, investors and financing tools.
- He underscored the recent issuance of green bonds worth $750 million and sovereign sukuk worth $1.5 billion.
Business
QatarEnergy, Excelerate sign agreement
Under the 15-year deal, they will supply LNG to Bangladesh.
- Excelerate will purchase 0.85 MTPA of LNG in 2026 and 2027, and one MTPA from 2028 to 2040.
- Qatar is the largest LNG supplier to Bangladesh and aspires to continue being the LNG supplier of choice for partners in the South Asia LNG markets.
Business
Saudi Arabia launches global tourism campaign featuring Messi
Riyadh, Saudi Arabia -- Saudi Arabia's national tourism brand, "Saudi Welcome To Arabia," has launched a new global marketing campaign...
- The campaign, called "Go Beyond What You Think," aims to address misconceptions about Saudi Arabia and encourage people to experience the country's cultural transformation.
- The campaign launch coincides with Messi's upcoming return to Saudi Arabia, where he will play two matches with his club, Inter Miami, against Al Nassr and Al Hilal.
Business
Dubai launches initiative to accelerate global expansion of SMEs
Dubai, UAE -- Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum Sunday launched the ‘Dubai International Growth...
- The AED500 million initiative was launched by the Government of Dubai in partnership with Emirates National Bank of Dubai (Emirates NBD).
- Emirates NBD will provide financing to eligible companies at competitive rates, charging the Emirates’ Interbank Offered Rate (EIBOR) with no additional margin.
Business
Shurooq real estate sales exceed $48 million at ACRES 2024
Sharjah, UAE -- Sharjah Investment and Development Authority (Shurooq) contributed over AED 177 million to the total sales of AED...
- Shurooq said it has been continuously boosting Sharjah’s global investment appeal with revolutionary projects like Sharjah Sustainable City.
- At ACRES 2024 Shurooq showcased phase 4 of this net zero mixed-use development, selling and reserving 42 units that are valued at AED 102.5 million.
Business
Dubai records weeklong real estate deals worth $3.86 billion
Dubai, UAE -- The real estate and properties transactions valued at AED 14.2 billion ($3.86 billion) in total during the...
- A total of 312 plots were sold for AED 2.95 billion, 2,696 apartments and villas were sold for AED 5.84 billion.
- A total of 195 properties were granted between first-degree relatives worth AED 850 million.
Business
EDGE bags another big order
The group will supply 200 unmanned helicopters to UAE defense ministry.
- The unmanned VTOL systems will be manufactured by Switzerland-based EDGE entity, ANAVIA.
- In November 2023, EDGE acquired a 52 percent majority shareholding in ANAVIA, which manufactures unmanned helicopters.
Business
Jabal Omar secures $509m Murabaha
The financing agreement was signed with Al Rajhi Bank.
- The term of the facility is two years, Jabal Omar said in a statement to Tadawul, according to Argaam.
- The facility will be used to accelerate the completion of project phases under construction and pay financial obligations.
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Middle East conflict exposes hydrogen supply risks: IEA
Dubai, UAE -- The conflict in the Middle East has disrupted production and trade in hydrogen-based products, exposing vulnerabilities in...
Geostrategy
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ADNOC Gas signs LNG deal
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Geostrategy
GCC energy sector strengthens global role despite lower oil output
Gulf Cooperation Council (GCC) countries continue to strengthen their position in global energy markets, supported by extensive natural resources, advanced...
Geostrategy
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Geostrategy
Strait of Hormuz disruption threatens trade flows: UNCTAD
UNCTAD data shows Brent crude oil prices rose above $90 per barrel, while natural gas prices also increased sharply after...
- Based on shipping flows during the week preceding the military escalation that began on February 28, crude oil accounted for about 38% of trade moving through the strait.
- Liquefied petroleum gas represented 29%, while liquefied natural gas and refined oil products each accounted for around 19%.
Geostrategy
Saudi, Qatar airlines adjust flights as regional tensions disrupt travel
Dubai, UAE -- Airlines has extended the suspension of flights to several Gulf destinations as regional tensions continue to affect...
- Saudi Airlines extends flight suspensions to several Gulf destinations while monitoring developments and evaluating gradual service resumption.
- Qatar Airways launches limited schedule from Doha to reconnect passengers following temporary authorization from civil aviation authorities.
Geostrategy
G7 ministers consider oil reserves as markets face volatility
In a statement following a virtual meeting with International Energy Agency (IEA) Executive Director Fatih Birol, the ministers said they...
- They added that proactive measures—including the possible use of strategic oil reserves—remain under consideration as part of efforts to stabilize global energy markets.
- The ministers said coordination is ongoing among G7 members as well as with IEA member states and other partners.