Wheels in motion for investors as two Gulf carriers plan 2025 IPOs
UAE's Etihad Airways and Saudi Arabia's Flynas are preparing to listing on local stock markets, the first IPO by Gulf...Business
Davos2025: 33 industrial clusters from 16 countries commit to economic growth, jobs creation and emissions cuts
The Transitioning Industrial Clusters initiative aims to improve collaboration and develop a shared vision among co-located companies and public institutions,...Business Economy
Beltone 9M net profit at $2.7m
In 9M, the firm's restructuring led to a turnaround.Operating revenue in 9M 2023 increased to US$30 million, a growth of 271 percent Year-on-Year.
The NBFIs operating revenue recorded US$15 million in 9M2023, a growth of 680 percent YoY.
EDB commits US$350m for renewable energy projects in developing countries
ABU DHABI, UAE - Emirates Development Bank (EDB) has committed US$350 million (AED 1.3 billion) to support the Energy Transition Accelerator...The ETAF platform is a global climate finance facility established by the International Renewable Energy Agency (IRENA).
The announcement was made during the signing of a collaborative partnership agreement between EDB and IRENA.
Chinese tourism bookings to Saudi surge 277% after mega promotional campaign
Shanghai, China -- In a bid to attract Chinese tourists, the Saudi Tourism Authority recently concluded its first, and the...Saudi Market Festival, a celebration of heritage, culture and nature, held at the iconic Bund Waterfront in Shanghai drew a crowd of over 80,000.
The impact of the campaign has been substantial, with over 500 million Chinese reached, the Saudi Press Agency reported.
JABEEN signs contracts with Retal, Abyatna
The firms will build primary and secondary infrastructure works.Under the contract, a total of 897 residential units will be built in the Jubail industrial city.
The $319 million contract, which was awarded on Nov. 26, 2023, extends for 40 months, starting on the date of the land handover from JABEEN to Retal.
Abu Dhabi hosts ‘Fortune Global Forum’ to debate challenges to global economy
Abu Dhabi, UAE-- The world's top heads of multinational companies, policy-makers, and investors will gather in Abu Dhabi today to...The event will explore the theme "New Era of Business" featuring conversations on major geopolitical, economic, and technological developments
The forum, being held a few days before the start of COP28, will provide a platform for business leaders and CEOs to elaborate on their global footprints.
Key contender Riyadh eyes Expo 2030 win tomorrow
Saudi Arabia -- competing against Busan, Korea, and Rome, Italy -- bids for Expo 2030 with a focus on innovation,...Saudi Arabia -- competing against Busan, Korea, and Rome, Italy -- bids for Expo 2030 with a focus on innovation, sustainability, and global unity.
A successful bid could transform Saudi Arabia's tourism and business landscape, marking a significant milestone in its journey towards global prominence.
DP World and IRENA sign agreement to cut emissions in maritime sector
Dubai, UAE--DP World and the International Renewable Energy Agency (IRENA) have signed a cooperation agreement to accelerate the use of...DP World chairman said that cooperation agreement will enable both the sides drive meaningful change and set new standards for a greener future
IRENA director general said that the partnership is a ground-breaking step towards accelerating innovative renewables-based energy solutions
Qatar’s North Field expansion fuels optimistic outlook
"Looking ahead, our focus is on the North Field Expansion and sustainability projects. We are collaborating with our contractors to...QatarEnergy's North Field Expansion Project to increase LNG production from 77 to 126 million tons per year.
A 27-years partnership agreement has been signed with Sinopec for North Field South (NFS) expansion.
Infracorp logs $29.8m profit
The company specializes in social infrastructure.Infracorp is currently restructuring its industrial portfolio to support its expansion in developing vital industrial infrastructure in Bahrain
The company is expanding its investment portfolio in the hospitality sector and attracting several international names, including ROKA and Avli by tashas
AD Ports Group expands operations in Kazakhstan with two new oil tankers
Abu Dhabi, UAE--AD Ports Group in collaboration with KazMorTransFlot (KMTF) has announced the acquisition and commencement of operations of two...The acquisition of two vessels represent a combined investment of US$35 million, and are specifically tailored for the Caspian Sea's shallow draft
The new investment by AD Ports Group and KazMorTransFlot brings the total number of oil tankers operating under the KMTF agreement to five
