Waldorf Astoria to open in Madinah by 2028
With more than 300 luxury rooms, three dining concepts, and various facilities, the hotel will merge global luxury with Madinah’s...Business
No peak oil demand ‘on the horizon’, phaseout a ‘fantasy’: OPEC
Paris, France - OPEC said Tuesday that phasing out oil was a "fantasy", as the Saudi-led cartel forecast that demand would...Business
Iran, Russia to invest $38bn in developing INSTC
TEHRAN, IRAN – The Iranian head of Solyanka Port in Russia said that the International North-South Transport Corridor (INSTC) is a...The Iranian head of Solyanka Port spoke of the measures taken by the Islamic Republic of Iran Shipping Line (IRISL ) to develop the INSTC route.
The IRISL group purchased 30 rail wagons, 5,400 containers and ordered the construction of 21 equipped vessels for strengthening maritime routes.
Mubadala issues its first-ever Green Bond for $750m
Abu Dhabi, UAE - Mubadala has issued its first-ever Green Bond for US$750 million with a tenor of 10.5 years,...The order books peaked at more than $6 billion with robust demand from local, European, Asian, and American accounts
The transaction further diversified Mubadala’s debt investors base by bringing in new investors, as a large proportion of demand came from new investors
Durar launches ‘MASA Residences’ in Ras Al Khaimah worth US$190.58m
RAS AL KHAIMAH -- Durar, a prominent UAE real estate developer, is set to launch MASA Residences, a luxury residential...Christie’s International Real Estate Ras Al Khaimah will exclusively handle sales and marketing for the development
The project marks Durar's entrance into the UAE's northern Emirates and is poised to elevate Al Marjan Island's landscape
Oil prices surge 3 percent amid Middle East tensions
New York, United States - Oil prices experienced a 3% surge on Friday, reaching a one-week high, driven by escalating...Brent crude futures increased by $2.55, or 2.9%, settling at $90.48 a barrel, while US West Texas Intermediate (WTI) crude saw a rise of $2.33, or 2.8%, closing at $85.54
The widening gap between Brent and WTI prices, reaching its highest level since March, is making it more enticing for energy firms to export crude from the U.S.
Chevron Q3 profit falls
Its earnings fell to US$6.5bn, down from $11.2bn last year.Its earnings have dropped from record year-ago levels as crude prices eased and higher costs ate up refining and chemical profits
The company agreed to buy U.S. rival Hess Corp for $53 billion in an all-stock deal that expands its shale and deepwater oil production
Abu Dhabi International Airport records 29.3% jump in Q3 passenger traffic
Abu Dhabi, UAE--Abu Dhabi International Airport has posted a 29.3 percent jump in passenger traffic for the third quarter of...The passenger traffic saw a 29.3 percent increase at the international airport between July and September of 2023
The emirate's connectivity also expanded, with 119 destinations served from Abu Dhabi International Airport by 24 airlines
Technology is a catalyst for recycling industry: Expert
By understanding and increasing recycling, we can offset the environmental effects of using new, virgin materials, Pranshu Singhal, founder of...By understanding and increasing recycling, we can offset the environmental effects of using new, virgin materials, Pranshu Singhal, founder of Karo Sambhav, tells TRENDS.
Regarding battery recycling, Singhal emphasizes the urgent need for recycling, especially given the limited reserves of essential materials like lithium, cobalt, and nickel.
AI revolutionizes real estate across GCC countries
Cities like Dubai and Riyadh are harnessing AI to redefine every facet of property dealings, from development to management, Tripler...Cities like Dubai and Riyadh are harnessing AI to redefine every facet of property dealings, from development to management, Tripler CEO Sam Singh tells TRENDS.
AI helps tenants find perfect homes, introducing dynamic pricing based on various factors, while data privacy concerns persist in its real estate integration, he adds.
GFH Capital mulls listing on Saudi market, says CEO
RIYADH, SAUDI ARABIA - GFH Capital is considering the offering of its unit in Saudi Arabia on the Tadawul.GFH Group's...The group is listed on the stock exchanges of Bahrain, Dubai, Abu Dhabi and Kuwait.
The group is continuing with fulfilling the regulatory requirements prior to listing.
Eni Q3 profit drops
This drop is smaller than the 31 percent fall in Q2.Adjusted net profit -- a figure closely watched by the markets because it excludes exceptional items -- also fell, by 51 percent to US$1.9 billion (1.81 billion euros).
The group's turnover fell 40 percent in the three months to US$23.5 billion (22.31 billion euros), well below analysts' expectations of US$34.4 billion (32.58 billion euros).
