Durov: Father of 100 children is a mysterious and controversial Telegram founder
Paris, France - Russian-born tech entrepreneur Pavel Durov has founded wildly popular social networks, cryptocurrencies, amassed a multi-billion-dollar fortune and locked...Business
Telegram chief Pavel Durov arrested at French airport: officials
Paris, France - French police arrested Telegram chief executive Pavel Durov on Saturday at an airport near Paris for alleged offences...Business
Zest Equity raises $3.8m seed round to digitize private market transactions
Abu Dhabi, UAE – Zest Equity, a venture-backed technology company offering digital infrastructure for private market transactions, has closed a...The Hub71 startup will use these funds to drive the company's ambition to expand its product offering in the MENA region
Zest Equity has raised a total of $5.7 million with early backers including DFDF, 500 Sanabil, Nuwa Capital, and a significant group of regional angel investors
Qatar signs 27-year gas supply deal with France’s Total: state energy firm
Doha, Qatar - Qatar has agreed to supply France's TotalEnergies with natural gas for 27 years, its state energy company announced on...Qatar will supply 3.5 million tonnes of gas a year under the deal, QatarEnergy said, following two agreements with Total
Total signed a $1.5 billion deal with QatarEnergy in September last year giving it a 9.3 percent stake in Qatar's North Field South project
Abu Dhabi’s Mubadala to invest $1 billion a year in Brazil
New York, United States - Mubadala Capital, the investment arm of Abu Dhabi’s sovereign wealth fund, plans to invest more...The firm’s second fund in the country, Brazil Special Opportunities Fund II (BSOF II), has raised over $710 million in commitments
Mubadala Capital was the first sovereign wealth fund to manage capital on behalf of third-party institutional investors
Samsung profits plunge
The company expects Q3 profits to fall nearly 80% to US$1.8bn.The company said in a statement that its operating profits for the July-September period will fall 77.9 percent to $1.8 billion
Led by Samsung, South Korean chipmakers have enjoyed record profits in recent years as prices for their products soared
First wind turbines reach Saudi green hydrogen plant, says CEO
RIYADH, SAUDI ARABIA - The first wind turbines have arrived at what Saudi officials bill as the world's biggest green hydrogen...Around 30 turbines are expected to be delivered by the end of the year along with the project's first solar panels.
The $8.4 billion NEOM green hydrogen plant is expected to reach full production by the end of 2026.
PIF sets up Tasaru Mobility Investments
The firm will drive strategic investments and partnershipsThe company will focus on developing local supply chain capabilities for the automotive and mobility industry in Saudi Arabia.
PIF has invested in the future of mobility, including establishing Saudi Arabia’s first national electric vehicle brand, Ceer, in partnership with Foxconn.
Belt and Road Initiative generated $2 trillion in contracts: China
Beijing said Tuesday the value of signed construction contracts with partners now totaled two trillion dollars -- roughly the size...China is hailing this month the 10th anniversary of its Belt and Road Initiative (BRI), which has seen Beijing pour a trillion dollars into projects globally
Beijing's Silk Road Fund, established to help fund BRI projects, has "signed agreements on 75 projects with committed investment of about $22 billion"
Major equity markets up, oil dips after surge on Israel-Hamas conflict
"Equity markets are bouncing back on Tuesday after a risk-averse start to the week, buoyed... by some promising Fed commentary,"...Europe's main stock markets jumped more than 1.5 percent approaching the half-way stage, and after a largely upbeat session in Asia and overnight on Wall Street
Oil prices dropped, having soared Monday after Hamas launched a deadly attack on Israel, stoking fear of spreading unrest in the crude-rich Middle East
ADNOC Drilling to pay $358m dividend
The company's H1 revenue increased by 13% to $1.4 billion.Since listing on Abu Dhabi Securities Exchange, and including this latest interim dividend payment, the Company will have distributed $1.36 billion to shareholders.
The interim dividend distribution will be on or around October 27, 2023, to all shareholders of record as of October 19, 2023.
Borouge signs supply pact with NPCC
Borouge will also supply critical materials for UAE energy projects.Borouge and NPCC have previously partnered to provide steel pipe coating solutions for over 15,000 kilometers of pipelines in various local infrastructure projects.
Borouge will supply materials for ADNOC Gas’ sales gas pipeline network enhancement (ESTIDAMA) program and Maximizing Ethane Recovery and Monetization (MERAM) project.
