Future of Humanity – TRENDS’ yearly Special Issue now online
Dubai, UAE -- TRENDS’ yearly Special Issue is out. This year’s edition, titled Future of Humanity, explores key global shifts...Business Economy Energy Geostrategy Global
Billionaire Bezos announces restrictions on Washington Post opinion coverage
Washington, United States - The Washington Post will no longer run views opposed to "personal liberties and free markets" on...Business
NEOM announces Aquellum as futuristic lifestyle community
NEOM, SAUDI ARABIA - The Board of Directors of NEOM has announced Aquellum, a luxury and experiential space embedded within...Aquellum is hidden within a breathtaking 450-meter-high mountain range.
The subterranean digitalized community creates vibrancy and interconnectivity.
Saudi Arabia signs MoUs with four countries for development in mining industry
RIYADH, SAUDI ARABIA – The Ministry of Industry and Mineral Resources has signed four Memorandums of Understanding (MoUs) with the...The roundtable highlighted the need for governments and industry to achieve economic and social development for local communities.
A total of 79 governments, 13 international organizations, 15 NGOs and seven business associations took part in the roundtable.
Infosys lowers revenue forecasts
Its net profit fell 7.29% Y-o-Y in the three months to December.It reported a decline in profit for the October-December quarter, and revised its revenue growth guidance to 1.5-2.0 percent in constant currency terms
A big employer of India's engineering graduates, the company upset markets last quarter after it said it would halt campus hiring in an effort to cut costs
OYO New Year Eve bookings up 64%
Oman emerges top performer in the GCC region.Saudi Arabia with 59 percent and United Arab Emirates with 31 percent growth were the other top performers.
Siniya Island Resorts, a luxurious property in Dubai, was one of the most preferred destinations for new year celebrations.
Qatar records $222m in realty deals: Registration department
Doha, Qatar -- The volume of real estate trading in sales contracts at the Department of Real Estate Registration at...Total sales contracts for residential units in the Real Estate Bulletin for the same period were QR 19.38 million.
Real estate properties traded for sale has included vacant lands, houses, residential buildings and commercial buildings.
ACWA Power-led consortium signs deal for wind energy project
Cairo, Egypt -- The Egyptian government signed an agreement yesterday with a consortium led by the Saudi company ACWA Power...This wind energy production project in the Middle East in Egypt will be the largest in the Middle East.
With investments reaching up to $1.5 billion, the project will be established in the Gulf of Suez and Jebel El-Zeit regions, boasting a capacity of 1.1 gigawatts.
EU court’s adviser says $2.6bn fine on Google be upheld
Google suffered a legal blow at the European Court of Justice when the body's adviser recommended that a US$2.6 billion...The opinion will feed into a legal battle Google has been waging to overturn the fine the European Commission hit it with in 2017.
The commission determined that Google abused its dominant position by favoring its own Google Shopping service.
Borouge signs supply agreement
The two-year agreement is worth AED 160 million ($43.56 million).Under the two-year agreement, Borouge will provide advanced infrastructure solutions to NAFFCO for various infrastructure projects across the region.
The Guggenheim Museum, the Riyadh city project, Mohamed bin Zayed City and the Yas Island Development Project are some of the projects.
FAB issues first Sukuk globally in 2024
ABU DHABI, UAE - First Abu Dhabi Bank (FAB) has issued a five-year US$800 million Sukuk at US Treasury +85bps,...The allocation sees 76 percent directed towards dedicated Islamic investors and 38 percent towards international counterparts.
The 1.9x oversubscribed order book represented high-quality investors, including international fund managers, supranational and banks.
Houthi attacks idle Suez Canal, deepen Egypt’s economic woes
The man-made waterway - which officially opened in 1869 - is crucial for Egypt, earning it $9.4 billion in transit...IMF figures show 35 percent less cargo was transported through the Suez Canal in the first week of 2024 compared with the same period last year
Analysts say the financial impact will become painful if Houthi attacks keep throttling traffic through the main maritime artery connecting Europe and Asia
