QatarEnergy announces integration of all marketing and related activities
DOHA, QATAR - QatarEnergy has announced the successful integration of all marketing and marketing-related activities formerly managed by QatarEnergy LNG....
Business
Mumtalakat, Investcorp ink pact
The firms have jointly launched a climate investment platform.
Business
Geostrategy
Dubai saves 329MW of electricity during Earth Hour 2022
Dubai Electricity and Water Authority (DEWA) said about 329 megawatts (MW) of electricity were saved in the emirate during Earth...
- The power saved is equal to a reduction of 132 tons of carbon emissions.
- These savings are 13 percent higher than the 291 mw savings recorded during Earth Hour 2021.
Business
UAE-Turkey real-estate conclave to tap into new opportunities
Called the UAE-Türkiye Real Estate Development Construction Roundtable, it will be held on Wednesday, March 30.
- The meeting will look to widen the trade corridor and strengthen economic ties between the two countries, besides building new collaborations
- It will reportedly be hosted by the UAE-Turkish Business Council, in association with the Foreign Economic Relations Board of Türkiye (DEİK)
Business
Jordan to soon resume oil imports from Iraq’s Kirkuk fields
Jordan imports crude from Iraq under an MoU that was signed by the two governments on January 28 last year.
- The exports were suspended in early February, pending discussion of details in the MoU
- The oil will reportedly be transported to the Jordan Petroleum Refinery in Zarqa
Economy
Saudi Arabia eases rules for US, UK, and Schengen visa holders
The move comes two weeks after the country lifted all Covid-19-related entry restrictions.
- Citizens of any country can now receive a 12-month tourism visa on arrival in Saudi Arabia without needing to apply in advance
- However, they will have to hold one of the three visas, and travel on one of the country’s national carriers: Saudia, Flynas, or Flyadeal
Economy
S&P gives Saudi economy positive rating after recovery
S&P has revised its outlook for Saudi Arabia from a stable to positive in the light of the recovery of...
- The positive outlook reflects the improved GDP growth and public finances in the medium term, linked to the Kingdom’s recovery from the COVID-19 pandemic impact
- The agency also expected that the Kingdom, in the medium term, will continue its policy to drive growth in the non-oil sectors through planned economic diversification
Business
Barq EV launches smart mobility
The startup is scheduled to provide its customers with an integrated package of products and services that contribute to enhancing...
- The startup is scheduled to provide its customers with an integrated package of products and services that contribute to enhancing the last-mile delivery experience
- The initiative comes in line with the UAE's efforts to support the growth of the logistics, transport, and e-commerce sectors in the UAE
Business
UAE and Dutch export credit firms to bolster cooperation, facilitate halal trade
Etihad Credit Insurance (ECI), the UAE Federal export credit company, signed a Memorandum of Understanding (MoU) with its Dutch counterpart...
- Etihad Credit Insurance and its Dutch counterpart Atradius DSB to bolster collaboration through joint strategic projects.
- The partnership also seeks to facilitate stronger halal trade through ECI’s Sharia-compliant finance solutions.
Business
SALIC of Saudi Arabia to buy 35% of Olam Agri for $1.24bn
SALIC of Saudi Arabia, a subsidiary of the PIF, has said it will acquire 35.43 percent of Olam Agri Holdings...
- SALIC said that the transaction is expected to be completed in 2022 after obtaining the required approvals from the relevant authorities
- Olam is one of the world’s leading commodity trading and processing companies specializing in grains, oilseeds, rice, and animal feed
Business
Weeklong real estate deals worth $1.85 billion recorded in Dubai
The real estate and properties transactions worth AED6.8 billion ($1.85 billion) were recorded in Dubai during the week ending 25...
- A total of 330 plots were sold for AED1.65 billion and 1,653 apartments and villas were sold for AED3.42 billion.
- A total of 124 properties worth AED210 million were granted between first-degree relatives.
Business
Multiply Group to invest AED367m in DEWA IPO
Multiply Group has said that it will be investing AED367 million into the Dubai Electricity and Water Authority's (DEWA's) initial...
- The Group's latest investment follows a series of strategic acquisitions, creating a unique technology-enabled ecosystem to pursue growth across five vertical segments
- Multiply Group benefits from a solid leverage-free liquidity position, having raised AED3.1 billion in a pre-listing private placement 16 times oversubscribed
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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
QatarEnergy announces integration of all marketing and related activities
DOHA, QATAR - QatarEnergy has announced the successful integration of all marketing and marketing-related activities formerly managed by QatarEnergy LNG....
Business
Company News
QIB’s profit shoots up 13%
Business
Latest News
QatarEnergy, Chevron Phillips to build US$8.5bn Texas plastic plant
Doha, Qatar— QatarEnergy and Chevron Phillips Chemical (CPChem) have announced they have reached a final investment decision to build an...
Business
Floating success: Marine industry helps Qatar cruise towards economic diversification at a greater pace
The floating hotel "MSC World Europa", which arrived at Doha Port last week, is one of three floating hotels designated...
Business
GCC growth may slow down in 2023 and 2024
The regional economies -- set to expand by 6.9 percent in 2022 -- may moderate to 3.7 percent and 2.4...
Economy
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Business
Masar, BTC Network sign agreement for info center, infrastructure
Makkah, Saudi Arabia---Umm Al-Qura for Development and Construction, owner and developer of Masar, the SR100-billion ($26 billion) destination in Makkah,...
- Masar, the SR100-billion ($26 billion) destination in Makkah, aims to enhance the quality of life of the residents and visitors of the Holy city.
- BTC Networks has three decades of experience that will support Masar’s smart infrastructure, in line with the Kingdom’s Vision 2030 goals.
Business
QatarEnergy, Qatargas celebrate loading of 30,000th ship from Ras Laffan
Doha, Qatar---Qatar’s state-owned QatarEnergy and Qatargas, the world's largest liquefied natural gas (LNG) company, celebrated the loading of the 30,000th...
- The LNG cargo was loaded on board the Qatargas-chartered Q-Max LNG carrier "Mekaines."
- Qatargas Terminals are entrusted to handle approximately three million barrels of oil equivalent of both LNG and non-LNG products every single day.
Business
FSRA grants Binance permission to provide crypto custody services
Abu Dhabi, UAE---Binance, world's biggest cryptocurrency exchange, announced that it has received a Financial Services Permission (FSP) from the Financial...
- Binance received a Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) in the Abu Dhabi Global Market (ADGM).
- ADGM, the International Financial Centre in the capital of the UAE, introduced the world’s first comprehensive and robust virtual asset regulatory framework in 2018.