Davos2025: 33 industrial clusters from 16 countries commit to economic growth, jobs creation and emissions cuts
The Transitioning Industrial Clusters initiative aims to improve collaboration and develop a shared vision among co-located companies and public institutions,...Business Economy
Social media’s evolving role in GCC spotlighted at Doha conference
Doha, Qatar – The Qatar Investment and Innovation Conference, held on Wednesday, at Barahat Msheireb in Msheireb Downtown Doha, brought...Technology Business
Ford lays off 300 US workers
The workers were asked not to report to work due to the strike.The strike against the "Big Three" car manufacturers -- Ford, Stellantis and General Motors -- began on September 15 when a previous contract expired without a replacement
Instead of calling for all of its 146,000 members to strike at once, the UAW union has deployed a targeted approach, adding more sites as the weeks drag on
Global energy demand to rise 25% by 2045: OPEC chief
Abu Dhabi, UAE - Global demand for all forms of energy is forecast to rise by 25% through 2045, according...No single energy source can meet the world's growing needs as the economy expands and the population increases, Al Ghais said
He added that despite some setbacks, global growth continues, and he was optimistic about future oil demand
Adnoc Gas awards contract
Nearly US$615m will be paid to build carbon-capture units.Adnoc Gas said the large-scale project reaffirms its steadfast commitment to maximising energy output while minimising emissions
The project expected to be started in 2026 will inject CO2 for permanent storage in ADNOC Onshore's Bab Far North Field
Masdar enters Tajikistan market with plans to explore 500MW clean energy projects
Abu Dhabi, UAE - UAE’s clean energy powerhouse Masdar expands Central Asian presence with agreement to explore ground-mounted solar, onshore...MW Energy, a joint venture between Abu Dhabi Future Energy Company – Masdar and W Solar Investment, has signed an agreement with Tajikistan’s Ministry of Energy
The collaboration will focus on the development of solar photovoltaic (PV), wind, and hydropower projects through a Public-Private Partnership (PPP)
Growing IT outlays intensify MENA’s transformation
The region's IT spending is set to rise by 4% to $183.8 billion in 2024, with software and IT services...The region's IT spending is projected to rise by 4% to $183.8 billion in 2024, with software and IT services witnessing double-digit growth
This surge aligns with the MENA region's push for digital transformation, enhanced cybersecurity, and a focus on generative AI initiatives
UAE to generate 19.8 gigawatts of clean energy by 2030: Al Mazrouei
Abu Dhabi, UAE-- The UAE will produce 19.8 gigawatts of clean energy by 2030, Suhail bin Mohamed Al Mazrouei, Minister...The minister informed the audience at ADIPEC 2023 that the UAE intends to work towards producing 1.4 million metric tonnes of low-carbon hydrogen per annum by 2031
He told a global audience of energy leaders at the opening of the event in Abu Dhabi that an International collaboration is crucial to addressing energy challenges
Sonatrach sacks CEO
Algeria's president has named Rachid Hachichi as new CEO.The Algerian government owns the company entirely, relying on the company's profits for about 60 percent of its budget and 95 percent of export revenues
The company has been marred by a series of corruption allegations and financial scandals, some of which have prompted investigations in Algeria and abroad
Abu Dhabi Oil Company to hike investment in UAE oil sector
Abu Dhabi, UAE--Abu Dhabi Oil Company (ADOC) is planning more investments and expansions in the UAE, according to a senior...Talking to the media at ADIPEC 2023, Shingai said the company was planning to expand production facilities and increasing extraction rates
He noted that ADOC played a key role in advancing ties between the UAE and Japan through its investment projects in the UAE oil sector
Dubai must possess its distinct emblem, says new decree
Dubai, UAE - Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, issued Law No....The law says emblem can be utilized across various government facilities, documents, websites, and during government events
Private entities may also utilize it, provided they obtain prior approval from the Dubai Ruler or his representative
Birkenstock declares IPO prize
The company expects to raise around $1.58 billon.Around 32.2 million ordinary shares will be put on the New York Stock Exchange in the IPO, the company said in a regulatory filing.
Known for its wide-strapped sandals with cork and latex soles, Birkenstock was founded in 1774 to make orthopaedic shoes.
