Algeria signs gas field deal with oil giant ExxonMobil
Algiers, Algeria - Algeria's state oil company announced Thursday it signed a memorandum with ExxonMobil to develop two gas fields, a...Business
US says Boeing can be prosecuted for 737 MAX crashes
San Francisco, United States - The US Justice Department on Tuesday said Boeing can be prosecuted for two subsequent 737 Max...Business
Estithmar opens branches in Iraq
Two subsidiaries of the Qatari firm open two branches.Elegancia Healthcare, established a branch in Iraq in line with the memorandum of understanding that was signed recently to manage and operate several soon-to-be-opened hospitals.
Estithmar Holding told Qatar News Agency that it signed agreements with the Iraqi investment authority worth $7 billion that includes real-estate and tourism development.
Saudi minister, Chinese firms seek collaboration in housing development
Beijing, China -- Saudi Arabia's Minister of Municipal, Rural Affairs and Housing, Majid bin Abdullah Al-Hogail, has held a meeting...During his meeting with SITEC Group, Al-Hogail deliberated over plans to establish an industrial complex in accordance with the highest pre-casting technology standards.
This complex will encompass finishing materials and an operational model for industrial zones, enabling the delivery of 5,000 units annually.
Oman LNG signs gas-export deal with Germany’s SEFE
Muscat, Oman-- Oman LNG has signed an agreement with Securing Energy for Europe (SEFE) to supply 400,000 tonnes of liquefied...The gas-supply deal looks to boost partnership between Oman LNG and international energy firms like SEFE, paving way for more agreements
The 4-year-long contract evisages supplying a total volume of 0.4 million metric tonne per annum of LNG from Oman LNG to SEFE
UAE banks provide US$7.73bn in financing to businesses in five months
Abu Dhabi, UAE-- The banks in the UAE increased their credit facilities for the business and industrial sectors by around...The banks raised their credit balance for the two sectors by $2.23 billion in May 2023, a monthly increase of 1.11 percent
Abu Dhabi banks provided around $100.74 billion until the end of May, while Dubai banks lend some $96.31 billion
AD Ports Q2 revenue grows 66%
The company attributed growth to increased volume across key sectors.On a like-for-like basis (LFL), which excludes the impact of M&A activity, the revenue growth was still significant, reaching 44 percent YoY
The growth drivers were primarily the Maritime Cluster with a substantial 208 percent YoY increase, followed by the Digital Cluster with 26 percent
Ma’aden, BADC ink agreement
Firm to supply 600,000 tons of fertilizers to BADC.The renewal is further proof of the company’s commitment to meet global market demand for phosphate fertilizers.
Ma’aden supplies approximately 42 percent of Bangladesh’s estimated requirement of diammonium phosphate.
Russia open to defense cooperation with several countries, says Putin
Moscow is open to equal defense cooperation with all nations seeking to protect their interests, Russian President Vladimir Putin said...The Russian leader stressed that the forum had earned recognition as one of the world’s largest exhibitions of advanced military equipment.
Putin said the event makes a significant contribution to the development of Russia’s multifaceted ties with other countries.
Abu Dhabi, Dubai realty resilient despite surging inflation, interest rates
Abu Dhabi, UAE – Real estate markets of UAE capital Abu Dhabi and Dubai demonstrated resilience in the face of...A report by Asteco, a full-service Real Estate company, said approximately 1,400 apartments were added to the Abu Dubai market during Q2 2023.
Average apartment, villa, and office rental rates in Dubai increased by 6 percent, 3 percent and 6 percent respectively over the quarter.
Agility posts Q2 earnings of $46m
Net profit was affected by higher interest rate.For the first six months of 2023, Agility’s net profit stood at US$95.5 million.
There was an increase in debt for financing the firm’s acquisitions last year.
International Military Forum Army-2023 opens in Moscow
MOSCOW, RUSSIA - The international military-technical forum Army-2023 opens at the Patriot Congress and Exhibition Center here.About 1,500 prominent Russian...About 1,500 prominent Russian companies of the military-industrial complex will present their products.
85 foreign companies and organizations from seven countries will also participate in the forum.
