ADNOC Gas announces $5 billion investment in Rich Gas Project
Abu Dhabi, UAE -- ADNOC Gas announced Tuesday it has made a final investment decision on the first phase of...Business
US aerospace manufacturers insist they have no use for tariffs
New York, United States -- US airlines and aerospace manufacturers insist they have no use for tariff protections, warning that...Business
Global trade likely to decline in 2023 due to changing trade patterns, geopolitics
DUBAI, UAE - The outlook for 2024 remains “highly uncertain and generally pessimistic,” UNCTAD says in the Global Trade Update,...Other elements affecting trade include lower demand in developed countries, less trade in East Asia and an uptick in trade-restrictive measures.
The elements also include an uptick in trade-restrictive measures and lengthening supply chains, particularly between China and the US.
Aramco to acquire 40% stake in GO
Gas & Oil is one of the largest retail and storage firms in Pakistan.This is Aramco's first entry into the Pakistani fuels retail market, advancing the company’s strategy to strengthen its downstream value chain internationally, the company said.
This transaction would enable Aramco to secure additional outlets for its refined products and further provide new market opportunities for Valvoline-branded lubricants
UAE, Korean firms ink pact
The partnership will utilize low-cost indoor farming solution.The facility will be co-located within livestock farms to localize animal feed in Al Ain, UAE.
The facility will be using 95 percent less water per kilogram versus traditional farming means.
SABIC announces 16% H2 cash dividend
The dividend of $1.27 billion is payable on Mar 4, 2024.SABIC has announced full-year dividend of SAR 10.2 billion or 34 percent (SAR 3.4 a share) of its current capital of SAR 30 billion.
The company had posted a net loss of SAR 1.04 billion ($277 million) in the first nine months of 2023, against a net profit of SAR 16.24 billion a year earlier.
PureHealth offer price $0.89 per share
The IPO witnesses demand of over AED 265bn ($72.15bn).The offering will generate gross proceeds of AED 3.62 billion for the company. On listing, the company’s market capitalization is expected to reach AED 36.2 billion.
Listing and trading commencement of PureHealth’s shares on ADX are expected to take place on 20 December 2023.
Microsoft and US labor group join hands on AI
The alliance comes as workers and governments are fretting over the potential repercussions of AI on work, with fears that...Microsoft will train labor leaders and workers on how artificial intelligence works
The labor group and the tech giant will also collaborate on how to shape public policy
Jordan’s mission to save its ancient olive trees
Jordan's culture ministry, Gharaibeh's organization is working to add the trees to the UNESCO Intangible World Heritage List, hoping this...Jordan has 11 million olive trees in groves that make up 20 percent of all cultivated land in the country
They produce 50,000 tons of olives and 25,000 tons of olive oil annually, contributing $169 million to the economy
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
