TAQA, JERA sign pact with SATORP to develop plant in Saudi ArabiaÂ
ABU DHABI, UAE – Abu Dhabi National Energy Company (TAQA), together with JERA Co., Inc on Thursday announced that they...Business Economy Energy
Abu Dhabi Chamber and UAEIIC team up to boost investment
Abu Dhabi, UAE--The Abu Dhabi Chamber of Commerce and Industry has signed an agreement with the UAE International Investors Council...Business
AviLease acquires aircraft leasing platform
The $3.6bn deal will see AviLease acquire a portfolio of 100 aircraft.The combined platform will own and manage 167 of the latest technology, fuel efficient aircraft, consisting of 145 owned valued at around $6 billion.
AviLease arranged $2.1 billion of competitive bridge financing commitments from four banks: BNP Paribas, Citibank N.A., HSBC Bank Middle East and MUFG Bank.
SAMI launches radio systems line
PIF-owned SAMI will be partnering with the Ministry of Defense.SAMI CEO Waleed Abdulmajeed Abu Khalid underlined the partnership in strengthening relationships with L3Harris, the world's leading defense company.
In June, SAMI signed an agreement with Safran Helicopter Engines for engine maintenance and repair.
Kuwait Airport expects 13% rise in passenger numbers, says DGCA
KUWAIT CITY, KUWAIT - Kuwait's Director General of Civil Aviation (DGCA) expected that the total passenger traffic to and from...The total passenger traffic from Kuwait International Airport in the present summer season is expected to reach 5.75 million passengers.
Kuwait Airport expects to operate 45,000 flights this season, an increase of 15 percent compared to last year.
Boon or blight? E-scooters around the world
The for-hire electric scooters that have become ubiquitous in Paris and other cities worldwide will be banned in the French...Barcelona outlawed rental scooters on public roads in 2018. Two years later Montreal outlawed all electric scooters, rental and private.
In London, only rental e-scooters with specific safety features are allowed in the capital. Privately owned devices are illegal.
NIDC drills 195 oil wells in 2 years
Wells were drilled in onshore, offshore operations.The oil and gas wells were put into operation by affiliated companies of the National Iranian Oil Company.
13 wells were completed 201 days sooner than expected due to round-the-clock efforts of NIDC’s employees.
$202m contract signed for Jeddah project
The contract involves MEP works for Al Muhammadiyah Hospital.The contract was signed between Zamil Air Conditioning and Refrigeration Services Co. Ltd. and Al Muhammadiyah Hospital for Healthcare Co.
Sulaiman Al Habib plans to finance the project from its own resources and Shariah-compliant long-term bank loans.
PIF-backed oil driller ADES International Holding announces IPO
Riyadh, Saudi Arabia -- ADES International Holding, an oil and gas driller backed by Saudi Arabia’s sovereign wealth fund, PIF,...The offer will comprise 338.7m shares-- 101.62m by ADES Investment Holding, PIF and Zamil Investment, and 237.10m new shares.
The price range will be announced September 18 and the final offer price will be announced after a book-building process.
ADIB enhances mobile app for international money transfers
Abu Dhabi, UAE - Abu Dhabi Islamic Bank (ADIB) has introduced enhanced international transfer features on its mobile app and...As the first bank in the UAE to offer discounts on remittance payments using Promo Codes, ADIB aims to transform the app into a one-stop solution for any remittance
Around 95% of the bank’s remittances occur through digital channels, with most of those transfers directed to the Americas, Europe, the Middle East, and Asia
Google’s Russian division faces bankruptcy as debt to creditors soars: TASS
Moscow, Russia - Google's Russian subsidiary is on the brink of bankruptcy as it struggles to cope with its mounting...The subsidiary's financial liabilities have now surpassed a staggering $211,579,032
The company’s ordeal dates back to May 2022 when it declared its intention to file for bankruptcy
China developer Evergrande plunges as Hong Kong trading resumes
The resumption of trading came after the company said in a filing on Friday that it had met guidelines set...Shares of Evergrande plunged as much as 87 percent during morning trading, slashing its market value from a peak of more than $50 billion in 2017 to less than $600 million
Company reported fresh losses for the first half of the year amounting to 33 billion yuan-- an improvement on the 66.4 billion yuan in losses reported in same period last year
