SABIC to build petrochemical plant in China
The Saudi giant will develop the US$6.4bn plant in Fujian.Business
UAE foreign investment projects second highest in world: UNCTAD
Abu Dhabi, UAE -- The UAE recorded the second-highest increase in the number of new foreign investment projects around the...Business Economy
Facebook, Ray-Ban debut ‘smart’ shades
Facebook is wading into a market that has already seen 2013's Google Glass, which sparked a privacy backlash over built-in...The "Ray-Ban Stories" shades can take pictures and video upon the wearer's voice commands, and the frames can connect wirelessly to Facebook's platform through an app
Notably, the Ray-Ban Stories glasses will not have augmented reality features -- technology that can mesh online computing with visual cues such as mapping or face recognition
Abu Dhabi’s Yahsat to use SpaceX for its satellite launch
Yahsat, the Abu Dhabi’s satellite company, has picked up SpaceX to launch its next generation Thuraya communications satellite in the...Next Gen satellite to be launched in 2023
SpaceX’s Falcon 9 was selected primarily due to its high reliability and advanced capabilities
Emirates to restart flights to Saudi Arabia and St. Petersburg
Emirates will restart flights to Saudi Arabia and St. Petersburg in Russia with demand for travel rising as the Covid...Saudi Arabia has recently lifted the travel ban on UAE and allowed its citizens to travel to the emirates starting September 8
From October 8, flights between Dubai and St. Petersburg will operate four times a week, with services expected to increase to daily from October 21
Dubai unveils Expo 2020 ‘passport’ for visitors
Visitors to Dubai’s Expo 2020 will be required to buy a 50-page booklet, passport, that would keep tabs of an...Booklet to keep a record of pavilion visits during entire 6-month event
It is available for purchase at 20 dirhams ($5.45) from all Expo 2020 Dubai stores spread across the site
Aramex likely to buy out Turkish MNG Kargo for $500m
Aramex, the Dubai-listed courier agency, is in talks with MNG Kargo, the Turkish delivery company, to buy it completely for...The potential deal comes at a time when relations between regional rivals the United Arab Emirates and Turkey are showing signs of improvement
One of the sources said the talks were at an advanced stage and a second said the pair were engaged in due diligence
Adnoc Drilling eyes $86m rigs
Adnoc, Adnoc Drilling, and H&P have formed an alliance for this.The rigs are expected to be delivered and commissioned in stages over a 12-month period
The process is subject to acceptance upon successful completion of a final inspection on customary terms and conditions
Business booms in Dubai, best in two years
Business activity has grown in Dubai at the fastest rate since September 2019, and is likely to improve further on...Expo 2020, further easing of COVID-19 restrictions to boost economic activity
“We remain optimistic that private sector business conditions will improve further in Q4 2021 as Expo 2020 gets underway
AD Ports plans new $154m terminal
The new terminal will be at the Khalifa Port in Abu Dhabi.The terminal will be managed by a joint venture where AD Ports Group will have a 30 percent stake
CMA CGM’s subsidiary CMA Terminals will have a 70 percent stake in the JV
Saudi institute invests $500,000 to research farming in space
The equity investment was reportedly a part of Interstellar Lab's latest $3-million seed round.The non-profit FII Institute has made the investment in the French firm Interstellar Lab
The Paris-based firm designs closed-loop bio domes for sustaining life on Earth, the moon, and Mars
Iran mulls preferential trade agreement with Lebanon
The director-general of the Iranian Trade Promotion Organization’s Office of Arabian and African Countries has said Iran is in talks...Lebanon is currently suffering under one of the world’s worst economic crises since the mid-1800s
The situation is such that senior economist Nasser Saidi has said hyperinflation is imminent in the country
