Oman to expand production of green hydrogen to boost non-oil economy
Hong Kong - The government of Oman’s targets to expand local green hydrogen production could support key credit metrics, such as...Business Economy Energy Climate Change
2023: A year of technological triumphs in the GCC
This year, the GCC region has solidified its technological leadership, with AI, blockchain, and the metaverse leading the charge in...Business
Halliburton builds $100m worth chemical plant in Saudi Arabia
Halliburton, the US oil field service giant, is in the final stages of building the first reactor plant for the...Halliburton is close to completing the construction of the first reactor plant for the manufacture of chemicals in King Salman Energy City "Spark" in Jubail
Three of Halliburton's senior executives on Monday held a workshop in the Eastern Province to introduce Saudi investors to the factory's activity
Riyadh, Dubai compete for business of news
Prominent media houses that have announced plans to move their base from Dubai to Riyadh include the state-owned Al Arabiya...The proposed media city is coming up on an area of 60,000 sq m at Al Safarat (Diplomatic Quarter) in Riyadh
The MBC Group, the largest media company in the Middle East, was established in Britain in 1991 and moved to Dubai in 2002
Saudi insurance sector Q2 results: premiums up, net income down
DUBAI: Saudi Arabian insurance sector showed overall positive developments during Q2 as gross written premiums (GWPs) grew by 8.1 percent...Fall of net income by 59 percent attributed to the claims returning to pre-pandemic normal levels.
Energy and property claims grew by 98 percent and eight percent respectively.
UAQ Free Trade Zone to ease banking operations for SMEs, others
DUBAI: A Memorandum of Understanding signed between the National Bank of Umm Al Quwain (NBQ) and Umm Al Quwain Free...Companies registered in the zone can avail of priority banking.
Services that include transactions, payments, savings and credit from NBQ will help businesses build their credibility, NBQ said.
Oil demand to top pre-pandemic level next year: OPEC
The optimistic forecast comes as the OPEC cartel nations and their allies are beginning to raise output to meet recovering...The optimistic forecast comes as the OPEC cartel nations and their allies are beginning to raise output to meet recovering demand
The OPEC's output rose by 151,000 barrels per day during August to hit 26.76 mbd
UCAC gets nod to amend insurance practice
The company had sought Saudi Central Bank's approval for the amendment.After approval, the UCAC would be limited to the practice of insurance activity only.
In a bourse filing on Sunday, the company said it will reduced accumulated losses to SAR 113.6 million.
Apple fix for Pegasus breach
Researchers found the problem while analysing a Saudi activist's phoneResearchers found the problem while analysing a Saudi activist's phone
Hours after releasing the fix, Apple said it had "rapidly" developed the update
$250bn GCC rail project on track after hiccups
The project linking the six GCC countries is expected to boost exports, diversify mode of transportation and reduce carbon emissions...Once the project is completed in the GCC, the developers plan to link the railway line with the ones in Jordan, Syria and Turkey and connect to Europe from thereon.
GCC Railway project not only benefits the six countries economically but attracts investments, both local and foreign
Space tourism: What’s on offer for those who can pay?
The era of space tourism comes with many options: a few minutes of weightlessness, or a few days or a...SpaceX's INSPIRATION4 set this week is the first orbital mission involving four non-professional astronauts.
A trip in a module of Space Perspective, hoisted by a space balloon the size of a football stadium costs $125,000.
UAE to tighten the screws on money laundering
Taking a strong stance against money laundering, the Central Bank of the UAE (CBUAE) has issued a new guidance on...The guidance serves as a key point of reference for licensed financial institutions to ensure their compliance with anti-money laundering
The guidance, which comes into effect today, requires LFIs to demonstrate compliance with CBUAE’s requirements within one month