Trump Organization inks deal to build a golf course and villas in Doha
Doha, Qatar -- The Trump Organization signed on Wednesday its first development deal in Qatar to build a golf course...Business
Amazon launches first Starlink-rival internet satellites
Project Kuiper, a subsidiary of the online retail giant founded by Jeff Bezos, is playing catch-up with Starlink - SpaceX's...Business
KEZAD Group signs lease agreement with Advanced Petro Services
ABU DHABI, UAE - Khalifa Economic Zones Abu Dhabi (KEZAD) Group, the integrated trade, logistics, and industrial hub of Abu...KEZAD’s industrial ecosystem is equipped with state-of-the-art infrastructure which perfectly supports Advanced Petro Services’ 24,000 sqm facility.
The CEO of KEZAD Group said APS is well-positioned to make a significant impact in the broader Abu Dhabi industrial landscape.
Total of 52 MoUs signed in Saudi-Korean Investment Forum
RIYADH, SAUDI ARABIA – A total of 52 memorandums of understanding (MoUs) were signed at the Saudi-Korean Investment Forum here....The private sector inked 48 MoUs in sectors ranging from transportation, tourism, energy, technology, infrastructure and cybersecurity.
The pacts aim to enhance investments between Saudi Arabia and South Korea which reflect the efforts towards collaboration between the two nations.
Qatar Airways’ CEO to quit
Akbar Al Baker led the state-owned airline for over 25 years.According to the reports which cited a memo to staff, Baker, who led the firm for over 25 years, is due to step down from November 5.
Akbar Al Baker has been widely credited with transforming the fortunes of the fledgling airline he took control of in 1997,
Chevron to acquire Hess
Chevron last year posted a record profit of $35.5 billion.Chevron's deal values Hess's equity at $53 billion, while the total enterprise value of the transaction, including debt, is $60 billion.
The deal will further diversify Chevron's interests, with Hess's assets including an offshore exploration scheme in oil-rich Guyana.
Modon attracts new investments via partnerships with China, Japan
Riyadh, Saudi Arabia -- The Saudi Authority for Industrial Cities and Technology Zones (Modon) has attracted new investments by partnering...The agreements are in line with the objectives of the logistics hub master plan launched by Crown Prince Mohammed bin Salman bin Abdulaziz in August 2023.
The master plan stipulates logistics centers in 17 industrial cities affiliated with Modon, including 11 internal distribution centers.
Invest AD to launch debt fund
Invest AD Blackstone Debt Fund is an SCA-regulated fund.The fund will offer local feeder access to Blackstone’s US and European private credit strategies.
The feeder brings Blackstone’s institutional-caliber credit platform to qualified non-US investors, primarily in the UAE.
Nedaa, Dubai Customs ink MoU
MoU to enhance digital solutions for efficiency.The MoU will help to integrate efforts and exchange experiences to improve the level of services provided to various groups and segments of society.
The two parties will focus on developing an operational mechanism aimed at ensuring a reliable and effective communication network for Dubai Customs,
GCC unified tourist visa to be introduced within 2 years, says UAE minister
ABU DHABI, UAE – Emirati Minister of Economy Abdullah bin Touq Al Marri has announced that the Gulf Cooperation Council...The new visa will open doors to travelers, granting them access to six countries under a single, unified tourist visa.
The minister said the UAE is getting ready to welcome the new flow of international tourists with the new unified visa.
Yansab 9M net loss $134 million
The company had posted net earnings of $136m in 9M 2022.In the third quarter of 2023, the company widened its net loss to SAR 161.3 million from SAR 61 million in the year before.
Yanbu had decided to distribute cash dividends of 236 million Saudi riyals to shareholders for the first half of the fiscal year 2023.
Aldar achieves record occupancy in Grade A commercial properties in Abu Dhabi
Abu Dhabi, UAE - Aldar Properties achieved a 97% occupancy rate across its prime Grade A commercial properties, which includes...Occupancy rates at the towers located at ADGM, the international financial centre on Al Maryah Island, stand at 99% compared to 79% when acquired by Aldar in 2022
Aldar’s other Grade A commercial properties in Abu Dhabi, HQ and International Tower currently hold an average occupancy rate of 95%
