Red Sea Global builds largest off-grid EV charging network in Saudi Arabia
RIYADH, SAUDI ARABIA - Red Sea Global (RSG), the multi-project developer behind the world’s most ambitious regenerative tourism destinations, Amaala...
Business
Real estate trading volume in Qatar exceeds US$88m in week
DOHA, QATAR - The volume of real estate trading in sales contracts at the Department of Real Estate Registration at...
Business
Business
Many firms to join Pure Health
ADQ signs pact to create UAE's biggest healthcare platform.
- Under the pact, Abu Dhabi Health Services Company (SEHA) and The National Health Insurance Company PJSC (Daman) will merge into Pure Health.
- Tamouh Healthcare, Yas Clinic Group and Abu Dhabi Stem Cell Centre will also join Pure Health, which already has a diversified services portfolio.
Economy
Iran supplies gas for domestic consumption despite challenges: Minister
The Oil Minister of Iran Javad Owji has said that his country has not faced the need to cut the...
- Iran used around 600 million cubic meters, around 100 million cubic meters in power generator stations, or its equivalent in gas oil, said oil minister Javad Owji.
- The country has not faced the need to cut the gas in any area despite decreased pressure problem, he said.
Business
Barter best payment method in Iran-Pakistan trade: Official
The Secretary-General of Iran-Pakistan Joint Chamber of Commerce Fahimeh Damroudi said that barter is the best choice of exchange as...
- Iranian President Ebrahim Raisi has repeatedly underlined the importance of trade development with neighbors.
- Iran's foreign trade reached $72.1 billion during the first nine months of the Iranian calendar year.
Business
Mumzworld CEO says committed to supporting Mideast businesswomen
Mumzworld has over 350 staff, with over 6,000 brands and more than 300,000 products for sale on the website, and...
- Mumzworld was built in 2011 to support women in the Arab world and help them to make informed decisions for their families.
- Ataya told that she would use her new role as a mentor, and sharing the knowledge, skills, and successes with other women.
Geostrategy
UAE’s Day 1 at UN Security Council: Vows peace building, inclusion
Besides the UAE, Albania, Brazil, Gabon and Ghana formally took up the posts they won in an election in June....
- The Security Council president, which rotates each month, sets the Council’s agenda and chairs the Council’s standing committees.
- The 15-member council is the UN’s most powerful body. China, France, Russia, the UK and the US are permanent members, with veto power.
Economy
Kuwait to increase crude output by 27,000 barrels per day from Feb 1
Kuwait will increase its crude production by 27,000 barrels per day (bpd) to 2.6 million bpd from 1 Feb. 2022...
- With the fresh raise, which is in compliance with OPEC decisions, Kuwait's total production will reach 2.6 million bpd.
- OPEC+ has decided to proceed with a production hike of 400,000 bpd, keeping their current policy of slight monthly increases in output.
Business
ADNOC awards $946m EPC contract
The contract awarded to NPCC for the development of Umm Shaif field.
- Over 75 percent of the total award value will flow back into the UAE economy under ADNOC’s In-Country Value (ICV) program.
- The award covers engineering, procurement, fabrication, installation and commissioning activities required to maintain Umm Shaif’s 275,000 mbd of crude production.
Business
Ooredoo, Hutchison merge
New company is named as PT Indosat Ooredoo Hutchison Tbk.
- The newly merged company will do business as PT Indosat Ooredoo Hutchison Tbk
- Indosat Ooredoo Hutchison has the scale to accelerate Indonesia's transformation into a digital society
Geostrategy
OIC reiterates its unwavering support for Palestine
Organization of Islamic Cooperation is the second-largest inter-governmental organization after the UN.
- OIC secretary general received Palestine Permanent Representative to the OIC at the headquarters of the General Secretariat
- Representatives from both side discussed the recent political developments in Palestine, among other things
Geostrategy
Qatar Charity signs $500k UNHCR deal to support Yemen refugees
After more than six years of the conflict in Yemen, it remains the largest humanitarian crisis in the world, with...
- As a result of this contribution, UNHCR will be able to provide urgently assist more than 2,000 families — around 12,252 people
- It is expected to be done through the distribution of relief items which includes blankets, kitchen sets, and solar lamps
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Red Sea Global builds largest off-grid EV charging network in Saudi Arabia
RIYADH, SAUDI ARABIA - Red Sea Global (RSG), the multi-project developer behind the world’s most ambitious regenerative tourism destinations, Amaala...
Business
Company News
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Mubadala Petroleum rebranded
Business
Tabby launches in Egypt
Business
Dubai to host 3 healthcare events next week
The United Arab Emirates is set to host three healthcare events next week in Dubai where over 4,000 healthcare professionals...
Economy
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Business
High investments in H1 2022 for DEWA transmission substations
Dubai Electricity and Water Authority (DEWA) recorded substantial growth of 22 percent in investments allocated to transmission substations during the...
- From January this year to June 2022, DEWA commissioned a new 400 kV transmission substations.
- Now the total number of 400 kV transmission substations in Dubai has risen to 26.
Business
SABB posts 26% profit rise
The profit touched $931m in the first nine months of 2022.
- The bank said in a bourse filing that it recorded a profit of $746 million in the same period of the last year
- SABB said the rise in associate earnings also contributed to the results
Business
DEWA shares drop 2.8%
The decline came amid reports of economic slowdown.
- There were over 6.5 million shares traded by 11:37 a.m. local time, with the average volume on the stock declining since it was listed
- The decline came in reaction to fears of an economic slowdown amid tighter monetary policy, causing global financial markets to see volatility