Borouge proposes share buyback
The company had posted a 24% YoY increase in net profit to $1.24bn.Company News Business
Electric, hybrid and aerial to entirely transform city life: IIT Madras expert
Easier commutes with faster, quieter, and eco-friendly vehicles would reduce travel times significantly and reduce stress for urban residents, says...Technology Business Economy Energy Geostrategy Profile & Interviews
Norwegian firm expects first cross-border transport of CO2 in 2025
Oslo, Norway -- Norwegian fertilizer group Yara International on Monday signed a contract to begin transporting CO2 produced at its Netherlands...Yara International signed a contract to begin transporting CO2 produced at its Netherlands plant to Norway so it can be buried under the seabed.
Carbon capture and storage is aimed at helping halt climate change, involves capturing CO2 emissions at factory smokestacks and burying them underground in geological reservoirs.
Messi’s World Cup jerseys up for $10m auction
If the jerseys sell for above $10m, that could make the sale the most valuable collection of sports memorabilia ever...He donned these shirts during the first halves of the group-stage rounds against Saudi Arabia and Mexico, as well as later games against Australia, the Netherlands and Croatia.
The most expensive individual jersey ever sold at auction was one that basketball legend Michael Jordan wore during his NBA finals run in 1998. It sold for $10.1m.
48% of people in UAE expect cross-border payments surge in 2024
Dubai, UAE -- Nearly 48 percent of individuals in the UAE anticipate an uptick in cross-border payments over the next...The report reveals that 53 percent of respondents in the UAE prioritize lower fees, 52 percent prefer speedy transactions, and 41 percent seek a straightforward remittance process.
A remarkable finding is the surge in the use of apps for cross-border payments among UAE SMEs, with 82 percent leveraging this technology.
Saudi EXIM Bank, Obeikan AGC ink pact
Obeikan AGC Glass will have an export credit insurance policy.This partnership will enable Obeikan AGC Glass to secure their international sales against non-payment risks posed by global buyers.
This agreement significantly amplifies the prospects for growth and penetration into new regional and international markets.
Gulftainer extends concession pacts
The agreements with Sharjah Ports extended for another 35 years.The extended agreements allow Gulftainer to manage, operate and further develop Sharjah Container Terminal (SCT) and Khorfakkan Container Terminal (KCT) throughout this century.
Gulftainer signed the original concession agreements for operating and managing the container terminal at Port Khalid in 1976 and the container terminal at Port Khorfakkan in 1986.
Attack in area claimed by Sudan, S. Sudan, leaves 32 dead
A government representative for Abyei condemned the attacks that occurred early Sunday in two counties by armed militias and soldiers...Bulis Koch Aguar Ajith, information minister for Abyei said the latest "barbaric attacks on civilians" were a continuation of deadly violence that broke out last week in the region
Security Council this month voted unanimously to extend the 12-year-old UN peacekeeping mission in Abyei which currently comprises some 4,000 military and police personnel
First internationally recognized renewable ammonia shipment made
Dubai, UAE -- Abu Dhabi-based Fertiglobe, a strategic partnership between ADNOC and OCI Global, has completed the maiden shipment of...The renewable ammonia was generated at Fertiglobe's facilities in Egypt utilizing renewable hydrogen from its Egypt Green Hydrogen electrolyzer pilot.
This eco-friendly ammonia will play a crucial role in producing near-zero emissions synthetic soda ash, a vital component in laundry powder, for consumer goods giant Unilever.
OpenAI faces leadership crisis as staff threaten to follow Altman to Microsoft
This mass discontent follows the unexpected dismissal of OpenAI co-founder Sam Altman, whose leadership in AI advancements like ChatGPT has...This mass discontent follows the unexpected dismissal of OpenAI co-founder Sam Altman, whose leadership in AI advancements like ChatGPT has been crucial.
Reports had also been circulating that Altman is planning to launch a new AI venture and announcement was expected as soon as this weekend
UAE holds 19% of global sustainable bonds, says Fitch Ratings
DUBAI, UAE - Fitch Ratings has affirmed the critical role that COP28 will play in raising awareness of sustainability issues...Fitch Ratings has affirmed the critical role that COP28 will play in raising awareness of sustainability issues in the region.
Environmental, social and governance bonds in UAE constitute over 19 percent of the global ESG bond market.
Dubai Customs logs 13% growth in transactions in first nine months of 2023
DUBAI, UAE – Dubai Customs has experienced a robust 13 percent increase with 21.6 million transactions during the first nine...The upswing aligns with the targets of Dubai’s economic agenda D33, which seeks to double foreign trade.
By the end of the third quarter of 2023, Dubai Customs had processed approximately 18.8 million customs declarations.
