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TSMC first-quarter net profit soars

Its net revenue for the quarter soared nearly 42%.

Tesla’s first Saudi showroom opens

The opening in Riyadh comes with Tesla sales dropping.

Mubadala Energy enters US energy market

Acquires a 24.1% interest in US firm Kimmeridge’s SoTex

Borouge to increase dividend from 2025

The company okayed $650 million final dividend for 2024.

TikTok’s US future uncertain

It must find non-Chinese owner to avoid ban.
  • Baker Hughes bags 400m ADNOC award

    Baker Huhges will supply all-electric compression systems.

    The systems are meant for liquefaction of natural gas, to be powered by clean energy, for ADNOC's low-carbon LNG asset in the Al Ruwais Industrial City, Al Dhafrah.

    The LNG trains will comprise energy-efficient Baker Hughes technology, including compressors, driven by 75 MW electric motors.

  • Jericho pins tourism hopes on UNESCO listing

    Despite many cultural treasures, there were only 32,535 hotel guests in the Jericho area in the first half of this...

    Jericho drew international attention in September when it was added to UNESCO's World Heritage List.

    The city also draws visits by Israeli Arabs, descendants of Palestinians who stayed on their land after Israel's creation in 1948.

  • gaza, israel, oil, crude

    Saudi Arabia to continue voluntary oil cut until end of Dec 2023

    The Kingdom's production in the coming months November and December will be approximately 9 million barrels per day, the country's...

    Riyadh, the world's biggest crude exporter, first announced its cut after a June meeting of the 23-nation OPEC+ alliance, which also includes Russia.

    That decision riled the United States, which at the time accused Saudi Arabia, a security partner, of siding with Russia in the war in Ukraine.

  • flynas adds 5 Airbus A320neo, total fleet now 56

    Riyadh, Saudi Arabia – Saudi “flynas” airline announced the delivery of five A320neo aircraft to increase its all-Airbus fleet to...

    The latest deliveries come as part of the expansion plan launched under the title "We connect the world with the Kingdom."

    flynas connects more than 70 domestic and international destinations with more than 1,500 weekly flights

  • Adnoc and Occidental sign deal

    They will conduct a study to build a direct air-capture facility.

    The deal was signed after the two companies had signed a collaboration agreement to explore carbon capture, utilisation and storage (CCUS) projects in the UAE and the US

    The one-million-tonnes-per-annum facility will be be connected to ADNOC’s CO2 infrastructure for injection and permanent storage into saline reservoirs

  • Miss Universe Bahrain and Pakistan promote halal and wellness tourism in Philippines

    Dubai, UAE - : Recently crowned Miss Universe Queens Miss Universe Bahrain 2023 Lujane Yacoub and Miss Universe Pakistan 2023...

    The two Miss Universe queens arrived in Manila this weekend to collaborate with the Philippine Department of Tourism in promoting its ‘Halal and Wellness Tourism’ campaign

    With the Muslim travel market forecast to reach $225 billion by 2028, the Philippines’ government is trying to attract visitors from Muslim-majority countries

  • Kazakhstan’s BSG Technology to set up business in UAE next year

    Abu Dhabi, UAE-- Kazakhstan's BSG Technology is looking to expand its operations into the Middle East, and begin operations in...

    BSG Technology intends to launch its operations in the UAE market in 2024 and in this regard it has partnered with a local company

    Baimukhanbetov said the energy sector in the Middle East is large, offering many opportunities to companies for expansion in the field

  • Rise in EVs drives Middle East toward greener future

    A transformative shift is unfolding in the region as more people transition from gasoline-powered vehicles to electric ones, an in-depth...

    A transformative shift is unfolding in the region as more people transition from gasoline-powered vehicles to electric ones, an in-depth TRENDS report reveals.

    With global EV sales hitting significant milestones and the UAE setting ambitious green targets, the future of transportation is looking increasingly electric

  • Rise in EVs drives Middle East toward greener future

    A transformative shift is unfolding in the region as more people transition from gasoline-powered vehicles to electric ones, an in-depth...

    A transformative shift is unfolding in the region as more people transition from gasoline-powered vehicles to electric ones, an in-depth TRENDS report reveals.

    With global EV sales hitting significant milestones and the UAE setting ambitious green targets, the future of transportation is looking increasingly electric

  • Geopolitical changes derailed shift towards green energy, says IMF

    Washington, US - Growing geopolitical fragmentation since the invasion of Ukraine has hit commodity markets, threatening to slow the transition to...

    IMF economists said trade disruptions could lower investment in renewable energy and electric vehicles by almost 30 percent till 2030

    It said further geopolitical fragmentation could lead to "turmoil" in the commodity markets, causing long-term economic losses