Shell halts Red Sea shipments over attack fears, say report
WASHINGTON, US - British oil giant Shell has paused transit through the key Red Sea shipping route indefinitely, over fears of...Business Energy Geostrategy Global
STV sets its sights on $1bn Middle East tech fund
STV is aiming to raise at least $1 billion for its second Middle East technology investment fund, making it potentially...The people chose to remain anonymous as the details of the fund remain private
IPOs in the region have also recently taken prominence with Adnoc Drilling coming to the market as the largest IPO on the Abu Dhabi stock market
Al Babtain to procure SAR 250m loan
The facility will be provided through Murabaha modeThe duration of the banking facility is four years and 282 million riyals have been pledged as guarantees for the financing.
The company said the loan will be used for re-structuring a part of short-term finances.
Banan to distribute cash dividends
The shareholders will get dividends for the period ending June 30.Banan Real Estate Company focuses on the investment and development of commercial, hospitality, and residential real estate.
The dividends will be distributed automatically by depositing in the investment accounts linked to the shareholders’ portfolios.
Samsung SDI, Stellantis deal
The two companies will set up EV battery joint ventureThe two companies will set up a "joint production body" in the United States to produce EV battery cells and modules
With the deal, Stellantis has "secured production capacity" to realise its goal to have electric vehicles make up 40 percent of its US sales
Saudi index reaches new highs on oil price rise
The oil price rise is expected to raise the economic growth of Saudi Arabia and the UAE. The kingdom is...Qatar Stock Exchange upwardly revised 0.1 percent on Thursday, aided by a 3.5 percent increase in Nakilat shares.
Egyptian Stock Exchange ended its sessions on Oct. 20 with a collective decline of indices for the second consecutive session.
Abu Dhabi launches virtual license for non-resident foreign investors
Non-resident foreign investors can obtain a virtual license for doing business in Abu Dhabi from any location outside the UAE...Investors can obtain the license from any location outside the UAE and without having to meet residence procedures.
The license covers 13 economic sectors on top of the strategic sectors targeted by the Abu Dhabi government to attract Foreign Direct Investment.
DEWA signs several digital tech agreements at GITEX 2021 stand
Dubai Electricity and Water Authority (DEWA) signed a slew of MoUs with local and international companies at the ongoing GITEX...The MoU with Etisalat is aimed at speeding up the digital transformation using Etisalat’s MobileHub platform.
Digital DEWA subsidiary sInfraX has partnered with WoM Technologies for its planned rollout of the first-ever Low Power Wide Area Network wireless Internet of Things.
Turkey cuts interest rate for second successive month despite soaring inflation
Turkey's central bank cut interest rates for the second successive month on Thursday in what economists interpreted as confirmation of...The central bank has blamed rising inflation on "transitory" factors that will dissipate with time.
The lira extended its fall into record-low territory against the dollar and euro after the announcement.
ACWA Power plans to stop investing in non-renewable projects: CEO
ACWA Power has said it plans to end investment in non-renewable projects in its endeavor to reach net zero by...ACWA holds a one-third stake in the massive $5 billion Neom futuristic city project, which will be powered entirely by solar and wind.
The company, 44 percent owned by PIF, will be "very selective" about the type of gas-powered plants, says CEO
QatarEnergy partners for UK project
This is QatarEnergy and Shell’s first hydrogen agreement.QatarEnergy and Shell have signed an agreement to pursue joint investments in blue and green hydrogen projects in the UK
It apparently establishes a framework for collaboration and joint investment to develop hydrogen solutions in the UK
