ArcelorMittal wants ‘amicable solution’ on Italy steelworks
ROME, ITALY - ArcelorMittal has offered to sell its stake or become a minority shareholder in an Italian steelworks after Rome...Business Economy
HNWIs drive up luxury car sales in Gulf region
Being home to most of the high net-worth individuals in the Middle East, Saudi Arabia, the UAE and Qatar are...Porsche Middle East and Africa’s successful implementation of new retail strategy helps in achieving the targets in Q1 2021.
GCC governments are committed to increasing sustainability by reducing carbon emissions.
Investors to sue Boeing’s Board of Directors for 737 crashes
Boeing has already lost $20 billion in fines, lost orders, and other costs, due to these two crashes, both of...A Delaware judge observed that while those who died in the crashes were the primary victims, Boeing shareholders were secondary victims
She has allowed the Board of Directors to be prosecuted on charges that they did not make good-faith decisions about the safety of the aircraft
Iker Casillas to launch goalkeeper training center in Dubai
Called the Iker Casillas Goalkeeper Training Center, this will be the first such facility by the Real Madrid goalkeeper outside...The center is to be established in partnership with Dubai’s Fursan Hispania FC
It will be helmed by former Spain international footballer Michel Salgado
Japanese-French consortium to operate Dubai Metro now
The change in operators coincided with the 12th anniversary of Dubai Metro, which started operation on September 9, 2009.The operation and maintenance contract of Dubai Metro and Tram with Keolis-MHI LLC spans 15 years
Of these, nine are base years, and six years are renewable every two years
Bitcoin may touch $100,000 in Q1 of 2022
Standard Chartered has forecast that Bitcoin will touch the magical figure of $100,000 in the first quarter of 2022, and...On Wednesday, Bitcoin was trading at a little more than $46,000
Ethereum and Binance Coin were trading at $3,413 and $409, respectively
Eltizam Group buys Inspire Integrated for $10m
Continuing with its expansion strategy, Eltizam Asset Management Group, a subsidiary of the Abu-Dhabi based International Holding Company, acquired Inspire...Acquisition part of ltizam Asset Management's expansion strategy
Inspire Integrated, which will continue to operate under the same name, specializes in infrastructure and real estate solutions
Mubadala Petroleum, Eni partner for energy transition
The scope of the cooperation covers potential joint opportunities in Mena, South East Asia, Europe, and other regions of mutual...The MoU aligns with Mubadala Petroleum’s approach to Environmental, Social & Governance ESG considerations and its energy transition goals
This includes pursuing a gas-weighted portfolio strategy that has seen the company’s asset base reach almost two-thirds natural gas
UAE-led consortium gets $250m for gas plant in deal with DFC
The consortium, called Pearl Petroleum Company Limited, is led by Dana Gas and Crescent Petroleum, both of which are from...Pearl Petroleum’s financing from DFC is expected to boost its work at the Khor Mor gas plant in the Kurdistan Region of Iraq
Proceeds from the seven-year financing are expected to support an increase in gas production capacity at the plant by 50 percent
Belt and Road Initiative in GCC: A deep dive
The relations between the Arab world and China have touched new highs particularly after China launched the Belt & Road...Bilateral trade between China and GCC increased 180 percent from US$68bn in 2009 to US$190bn in 2019
Gulf imports from China totaled US$10 bn in clothing, textiles, and fabrics, accounting for 66 percent of Arab trade with China
Aramco to partner with Aveva for sustainability
Aramco, with this partnership, will focus on driving sustainability in the region through digital transformation.The partnership will help Aveva establish its largest digital hub, with R&D capability, in the Middle East
It will also enrich Saudi Arabia’s knowledge economy by incorporating research from prominent universities across the kingdom
