DAE net profit up 36.2%
Revenues grew by 9 percent to $1.42bn from $1.31bn in 2023.Company News Business
OPEC+ sticks to oil output plan after Trump’s price demand
In a bid to boost prices, the Organization of the Petroleum Exporting Countries (OPEC) headed by Saudi Arabia and Russian-led allies...Business Energy Geostrategy
ADX and Abu Dhabi Housing Authority sign agreement to boost data exchange
Abu Dhabi, UAE--The Abu Dhabi Securities Exchange (ADX) and the Abu Dhabi Housing Authority signed a service level agreement to...The agreement between the two entities is designed to enhance service and improve overall customer experience for Emiratis
It will simplify the method used for accessing investor data on ADX, benefiting from Abu Dhabi Housing programs with increased efficiency
Riyadh Season draws 9 million visitors to its entertainment zones
Riyadh, Saudi Arabia - The number of visitors to Riyadh Season has surged to over 9 million, indicating a significant...Riyadh Season, marked by the slogan "Big Time," completed the spectrum of entertainment choices with top-tier events and festivals across various zones
Boulevard City zone emerged as a site filled with entertainment options, along with Boulevard World which features a variety of international cultures
Silal and MBZUAI sign MoU
The agreement will bring AI innovation to food production.The two sides will create a framework for the transfer and commercialisation of research, including support for startups and business spinouts
The agreement corresponds with the National Strategy for Food Security 2051 to develop a national system based on enabling sustainable food production
SEWA seeks to enhance cooperation with Siemens Energy
Sharjah, UAE -- Sharjah Electricity, Water and Gas Authority (SEWA), has decided to enhance cooperation with Siemens Energy.in developing energy...Heads of both the companies on Sunday discussed the latest developments in the energy sector
SEWA commited to cooperate with all local and international bodies to apply the latest technologies and digital transformation
PM issues law forming Dubai Investment Fund to oversee government investments
DUBAI, UAE – Vice President, Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum has issued Law...The law endows the Fund with the financial and administrative independence to pursue its objectives along with the legal mandate to do so.
Dubai Investment Fund will be responsible for investing Dubai Government funds, surpluses and the general reserve locally and internationally.
PIF sets up agri and ecotourism firm Dan Company
RIYADH, SAUDI ARABIA - The Public Investment Fund (PIF) announced on Monday the establishment of Dan Company, specializing in agritourism...The company plans to develop unique tourism projects around cities across Saudi Arabia with attractive natural and farmed landscapes.
Dan aims to involve local communities in imparting experience that enables visitors to fully interact with Saudi regional culture and traditions.
Arab meet calls for more investments in renewable energy
Speaking at the 12th Arab Energy Conference organized by the Organization of Arab Petroleum Exporting Countries (OAPEC), Qatar's Energy Minister...OAPEC Secretary General Eng. Jamal Issa Al Loughani emphasized the conference's focus on international energy market developments and their local and global implications.
He called for a careful balance between emission reduction, energy availability and affordability, while underscoring challenges in building sustainable energy systems.
Russia, Saudi say sovereign Palestine state vital for regional peace
RIYADH, SAUDI ARABIA – Russia and Saudi Arabia expressed concern on the present situation in Gaza and said that a...The two sides discussed the developments in Palestine and expressed their deep concern about the humanitarian catastrophe in Gaza.
Russia and Saudi Arabia stressed on the need to stop military operations in the Palestinian territories, and the need to protect civilians.
ENEC, X-energy sign agreement
The firms will collaborate on nuclear energy technologies.The MoU was signed at COP28 and comes in line with ENEC’s recently announced ADVANCE Program.
The central aim of ENEC’s ADVANCE program is to harness the latest advancements in nuclear energy technologies.
Bosch to cut 1,500 jobs
The firm said the cuts will be completed by the end of 2025.Bosch is facing major structural changes when it comes to transmissions as the shift to electromobility gathers pace.
The company stressed there would be no compulsory redundancies in the forthcoming cuts, in line with a recent agreement.
