ADNOC Gas to pay $3.41bn dividend
It includes $1.7 billion scheduled for distribution in Q2 2025.
Business
Business
By 2030, TAQA targets a 25% reduction in greenhouse gas emissions
The strategy includes the national low-carbon power and water champion’s interim greenhouse gas (GHG) emissions reduction goals.
- The strategy includes the national low-carbon power and water champion’s interim greenhouse gas (GHG) emissions reduction goals
- TAQA will focus on the decarbonisation power and water supply, electrification across sectors to support more efficient use of power and water
Business
Mubadala buys stake in EQT Infrastructure’s GlobalConnect
GlobalConnect is a fiber-based data center services provider.
- Headquartered in Stockholm, Sweden, GlobalConnect is a fiber-based data communication and data centre services provider.
- The company was created in 2019 through the combination of four independent fiber platforms in Denmark, Norway and Sweden.
Economy
Abu Dhabi’s Environment Agency holds training for industries
The Environment Agency - Abu Dhabi (EAD) organized two training workshops on the Green Industries environmental labeling program.
- The Green Industries program aims to recognize industrial facilities that adopt green processes and operations.
- The workshops, held digitally, were attended by over 135 industrial facilities from various sectors in Abu Dhabi.
Business
QatarEnergy becomes 100 percent owner of Siraj Energy joint venture
QatarEnergy bought 49 percent of Qatar Electricity and Water Company’s share in Siraj Energy.
- Siraj Energy was established in 2017 to finance, build, operate, and maintain solar power facilities, and sell electricity generated from solar power, within Qatar.
- Â Siraj Energy has a 60 percent interest in Siraj (1) which owns and will operate Al-Kharsaa Solar Photovoltaic (PV) Independent Power Project.
Business
Dubai records real estate deals worth $571 million on Thursday
Dubai, UAE---Dubai real estate market recorded realty transactions worth AED2.1 billion ($571 million) on Thursday, Dubai Land Department said. The...
- The transactions included 401 sales deals worth AED1.69 billion, in addition to 77 mortgage deals of AED324.64 million.
- The sales included 373 villas and apartments worth AED687.26 million, and 28 land plots worth AED1 billion.
Business
Lulu Group to list on Abu Dhabi Exchange in 2023
V Nandakumar stressed that the group’s listing is a major opportunity to contribute to the sustainable growth of the Emirati...
- V Nandakumar stressed that the group’s listing is a major opportunity to contribute to the sustainable growth of the Emirati economy
- A number of other firms are considering their IPOs on ADX and the Dubai Financial Market to build up resilience against international uncertainties
Business
Camel Club, Riyadh Chamber to promote camel culture as Saudi heritage
Riyadh, Saudi Arabia---The Saudi Arabia's Camel Club and Riyadh Chamber of Commerce have signed an MoU to develop and create...
- The two entities signed an MoU that also aims at creating investment opportunities in the camel sector.
- Providing support and assistance to the club when holding international conferences are other aims of the MoU.
Business
Oman & Emirates Co. Q3 net profit $5.6m
The profit for the same period in 2021 was 538,832 OR.
- Oman & Emirates Investment Holding Company was established through the Royal Decree in 1993, as an joint venture between Oman and UAE.
- Â O&E is registered as an Omani Joint Stock Company traded in Muscat, Abu Dhabi and Dubai Securities Markets.
Business
ADNOC awards $980m contract
The contract awarded to ADNOC Drilling to hire offshore rigs.
- ADNOC Drilling is the largest national drilling company in the Middle East by rig fleet size.
- Over 80 percent of the award value will flow back into the UAE’s economy under ADNOC’s In-Country Value (ICV) programme.
Business
Burjeel Holdings set to expand to Oman, Saudi Arabia
The company is raising capital to support the ongoing expansion in the UAE and Oman, and pending entry into Saudi...
- The company is raising capital to support the ongoing expansion in the UAE and Oman, and pending entry into Saudi Arabia, the founder Dr Parambath said
- In the UAE Burjeel has built the cancer centre, the mother care services, as well as the orthopaedic and diagnostic networks
ADNOC Gas to pay $3.41bn dividend
It includes $1.7 billion scheduled for distribution in Q2 2025.
Business
Company News
SALIC buys 10.7% stake in BRF
Business
ADNOC L&S buys VLCC
Business
Latest News
CBD H1 2023 net profit $133m
Business
Middle East conflict alters regional energy dynamics
Chevron's Tamar gas field halt, rising global oil prices, and jeopardized gas supplies to Egypt and Jordan underscore the impact...
Business
NMDC, AD Ports Group ink MoU
The firms will continue to work closely on future global projects.
Business
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Business
Saudia records 50 percent growth in operations during Umrah season
JEDDAH, SAUDI ARABIA - From the start of the month of Muharram until the end of Rabi' Al-Awwal, Saudia Airlines...
- Its commitment to operate during the Umrah season for the year 1445 Hijri aligns with Saudia’s dedication to contribute to the Saudi Vision 2030 goals.
- Saudia planned to provide additional charter flights during the current Umrah season, aiming to transport more than 100,000 Umrah performers through new stations.
Business
stc Group posts 9-month revenue
stc's revenue was $14.5 billion in January-September 2023.
- Gross Profit for the period of 2023 reached US$7.7 billion (SAR28,875 million) with an increase of 1.8 percent compared to the same period last year.
- Earnings before Interest, taxes, zakat, depreciation and amortization for the period reached $5 billion with a decrease of 2.35 percent compared to Jan-Sept 2023.
Geostrategy
Over 8,000 Palestinian fatalities, including 2,062 women, says UN report
UNITED NATIONS – More than 8,000 Palestinian fatalities were reported as of October 29, 2023, including 2,062 women, 3,324 children,...
- Significant damage has been inflicted on critical infrastructure, affecting people's ability to maintain basic living standards, the report said.
- At least 45 percent of Gaza's housing units have been destroyed or damaged, with 16,441 units destroyed, 11,340 severely damaged and uninhabitable.