Saudi Arabia leads GCC in project awards this year
The 2024 outlook for the MENA region's project market is exceptional, with an anticipated surpassing of $270 billion in value,...Business
Dubai’s consumer confidence index jumps to 10-year high
Dubai’s consumer confidence index rose to its highest level in a decade during the third quarter of 2021, the Dubai...The positive sentiment has been fueled by increased economic activity
Most consumers in Dubai are now feeling positive about current and job prospects
Savola Group of Saudi Arabia buys out Bayara for $260m
Savola Group of Saudi Arabia has bought out the Emirati snack maker Bayara Holding for $260 million.The transaction, paid in cash according to a stock exchange filing, was part of a five-year strategy to expand Savola’s regional operations
Bayara is a major manufacturer and distributor of branded snacks in the UAE and the Kingdom
Al Dahra opens five animal feed plants
The plants are located in Serbia, Romania and Bulgaria.The new plants have a capacity of 500,000 tonnes per annum of clover and more than 15 types of feed and concentrated grains.
The firm recently added some 11,000 hectares of clover to its existing plants in Romania.
SABIC stock leaps up to 7-year high, trades at SR134.60
For the first time in nearly seven years, the stock of Saudi Basic Industries Corporation (SABIC) has touched its highest...The stock is currently trading up just under 1 percent, with trading exceeding 500,000 shares so far
Today’s rise has pushed the stock up a staggering 120 percent since March 2020
Work on $6.5 billion green hydrogen project in NEOM to begin in H1 2022
The work on a $6.5 billion green hydrogen plant in Saudi Arabia's planned futuristic city NEOM is likely to begin...ACWA Power expects to finalize financing in Q1 2022. The project is a joint venture with NEOM Co. and American industrial gas company Air Products.
The plant will need around 4.3 GW of clean energy to power it and ACWA plans to use solar in the day and wind in the night.
SIB profit up 30 percent in nine months
The bank said it continued hedging policy despite corona recovery.Operating profits increased by 29.3 percent to reach AED 652.9 million.
The bank's board has approved a proposal to allow foreign investors to trade in 40 percent of the bank’s shares.
Oman takes centre stage as T20 World Cup gets underway
Originally scheduled to take place in Australia and then India, before being chased out of both by Covid-19, the seventh...Oman are playing in their second T20 World Cup having shocked Ireland at the 2016 tournament
The eight teams in the first round of qualifying are chasing four places in the Super 12 round-robin stage
SODIC lands $100m loan
This will finance SODIC’s West Cairo flagship project.The Arab African International Bank and Banque Misr is providing this facility to SODIC
SODIC is expected to use this facility to finance its West Cairo flagship development known as SODIC West
Slovakia debuts its first Hydrogen car at Expo 2020
The car has an aerodynamic design and is a sports model, and does not produce dangerous emissions.The vehicle, called the MH2 Hydrogen car, has been designed by Branislav Mauks
He is a Slovakian designer who since 2007 has contributed in designing each of Ferrari’s models
PIF of Saudi Arabia to launch tourism on ‘THE RIG’
Public Investment Fund of Saudi Arabia has announced the launch of ‘THE RIG,’ a new tourism project on oil offshore...“THE RIG” will span a combined total area of more than 150,000 square meters
It will provide a multitude of hospitality offerings, adventures, and aquatic sporting experiences
