Aramco acquires stake in BHIG
The 50% equity interest in BHIG is Aramco-APQ joint venture.Company News Business
ADNOC Gas to pay $3.41bn dividend
It includes $1.7 billion scheduled for distribution in Q2 2025.Company News Business
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).
Equinor profits tumble
The drop was due to sharply lower gas prices and offshore wind problems.Adjusted earnings, which excludes certain exceptional elements, fell by 67 percent from the same period last year to $8.0 billion.
Revenue came in at $26 billion, a drop of nearly $18 billion from last year. Net profit plunged 73 percent to $2.5 billion.
Robot maker dreams of turning sci-fi into reality
Ryo Yoshida's monster-sized drivable robot is hard to park and the $3-million price tag will crush most wallets.An imposing 14.7 feet high and weighing 7,716 pounds, "Archax" can be moved and operated by a pilot who clambers up to the high-tech cockpit.
When manoeuvered in the vehicle mode, "Archax" is capable of moving at 10 kilometers (six miles) per hour, according to the company.
Saudi Arabia’s economy exceeds US$1trn mark
RIYADH, SAUDI ARABIA – The gross domestic product of the Kingdom exceeded US$1 trillion which displays strong progress towards meeting...This positive outcome is attributed to strong investment from the private and public sectors,
Non-oil revenue growth, ongoing diversification, and economic resilience efforts has also helped.
