Borouge’s PP5 unit generates $209m sales in H1 2023
ABU DHABI, UAE - Borouge's Chief Operating Officer Dr. Hasan Karam has said the fifth polypropylene unit (PP5) played a...
Business
Science
TII of Abu Dhabi partners with top institutes on mesh projects
Technology Innovation Institute (TII) has announced that its Secure Systems Research Centre (SSRC) has partnered with three universities on secure...
- Mesh network is a network topology in which the infrastructure nodes connect directly, dynamically, and non-hierarchically to as many other nodes as possible
- The project is set to strengthen the security of the Mesh network technology that TII is currently developing
Business
Dar Al Arkan to develop $985m residential project in Saudi Arabia
The project will be developed on an area of 1 million sqm while fully respecting and preserving the topography and...
- The project will be developed on an area of 1 million sqm while fully respecting and preserving the topography and unique environmental features of Taif
- It will offer premium residential units ranging from apartments, villas, and townhouses in addition to a variety of commercial facilities and amenities
Geostrategy
Jordan, UAE, Saudi Arabia call for calm in Sudan after coup
In the wake of the military coup in Sudan, many countries of the Middle East have called for peace and...
- General Abdel Fattah Al-Burhan, the head of the military, announced the dissolution, on Monday, of the government and the Sovereign Council
- Burhan said quarrels among political factions prompted the military intervention
Business
Pyypl, Ripple launch on-demand liquidity service in Middle East
ODL uses XRP for instant, low-cost cross-border payments.
- ODL is the process of buying and selling XRP in originating and destination countries
- XRP is the native cryptocurrency of products developed by Ripple’s creator Ripple Labs
Economy
World Bank warns high energy prices could stoke inflation
World Bank has warned that rising energy prices will stoke inflation in many emerging markets and developing countries.
- The bank has raised its forecast for average oil prices to $74/bbl in 2022 from $70/bbl in 2021 projected previously in April
- Prices of non-energy commodities like metals and wheat are also projected to remain at elevated levels
Science
Iraq to cut out carbon emissions in full by 2025
In order to cut out carbon emissions completely, Iraq will stop burning associated gas permanently in 2025.
- He said that Iraq will stop burning associated gas permanently in 2025
- "At this summit, we seek to start developing plans to transform the future of our countries and all their economies to a green future free of emissions”
Business
Safari lands Saudi contracts
The contracts pertain to managing the King Fahd Causeway.
- Safari has been awarded all three facilities management packages by the King Fahd Causeway Authority
- According to the five-year contract, Safari will provide over 500 staff to maintain and enhance the aesthetics and functionality of the causeway
Business
Saudi EXIM Bank and SMBC sign MoU to streamline businesses
The Saudi Export-Import Bank and Sumitomo Mitsui Banking Corporation (SMBC) have signed an agreement under which the two will work...
- Saudi EXIM Bank says MoU is one of many it is pursuing to help Saudi exports grow.
- The SMBC will explore securitization or letters of credit to creditworthy Saudi exporters and Japanese importers.
Business
ADH revenue, profit up by end of Q3
Rise in net profit attributed to a slew of acquisitions.
- Year-on-year revenue growth 341 percent, reaching AED 11,425 million in nine months.
- Healthcare sector major contributor to revenue, which reached AED 11,425 million at the end of Q3.
Business
Abu Dhabi-based fund exceeds target of $50m in second raise
The Chimera Global Fund has surpassed its target of $50 million in its second raise, as it aims to deploy...
- The Abu Dhabi-based fund said it has a “robust pipeline of opportunities” in a number of sectors including financial technology, educational technology, and health technology
- “The fund aims to deploy tickets of up to $5 million in 12-15 companies that span from Series A to pre-IPO stages”
Company News
SAR passenger numbers rise
Business
Barwa records rise in profit
Business
Vodafone Qatar profit up 61%
Business
Latest News
DIFC unveils wealth center
Business
Global Islamic Refugee Fund launched, seeks to raise $400m
The funds are scheduled to be deposited in a trust account to finance programs as per the needs of refugees...
Geostrategy
Jordan PM meets Iraqi, Syrian, Lebanese agriculture ministers
Jordan Prime Minister Dr. Bisher Khasawneh has a joint meeting with the agriculture ministers of Iraq, Syria and Lebanon.
Geostrategy
Sudan seeks investment from Qatari private sector in various sectors
Doha, Qatar - Qatar Chamber explored, with the Ruler of Darfur region in Sudan, investment cooperation and enhancing the role...
Business
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Geostrategy
UAE delegation attend meetings on sidelines of UNGA session
The UAE delegation attended the sixth day of high-level meetings on the sidelines of the 77th Session of the United...
- The meetings included a ministerial-level interaction with the Non-Aligned Movement.
- It also included meeting with the African Union.
Business
Sharjah Chambers discusses credit report, score for SMEs
The Sharjah Chamber of Commerce and Industry (SCCI) has hosted a webinar in cooperation with Al Etihad Credit Bureau (AECP)...
- The webinar discussed various topics including the comprehensive credit protection solutions provided by Al Etihad Credit Bureau.
- The credit protection solutions help companies improve risk management and make the right decisions when interacting with customers.
Business
GHD, Fraunhofer–Gesellschaft to help develop UAE hydrogen policy
The Ministry of Energy and Infrastructure (MoEI) of UAE announced that it had signed an agreement with GHD Group, in...
- UAE's National Hydrogen Strategy will help in formulating policies for energy-mix diversification strategies and net-zero targets by 2050.
- Crucial elements must be in place for a booming hydrogen-based economy, including proper infrastructure, technological readiness and market access.