Saudi Arabia to donate US$40m for UN agency in Gaza
The funds, according to the King Salman Humanitarian Aid and Relief Centre (KSrelief), would support UNRWA's "humanitarian relief efforts in...Business Economy
Google’s new AI for corner kick tactics gets Liverpool approval
PARIS, FRANCE – Liverpool football analysts have given their seal of approval to a new artificial intelligence tool from Google that...Business Economy Global Sports
ADIB unveils fixed-rate home finance
In a UAE's first, Istikrar will offer long-term, fixed-rate home finance.The bank said that the new product offers customers more property financing options in the midst of a high-rate environment
In January this year, the bank reported a net profit of US$985 million (AED 3.62 billion) in 2022, a 55 percent increase from the previous year
Erdogan seeks foreign investment on Gulf tour, begins with Saudi Arabia
Turkish President Recep Tayyip Erdogan has embarked on a three-state Gulf tour, beginning with Saudi Arabia, as he seeks to...Nine MoUs -- covering energy, real estate, education, and more -- were signed at the Saudi-Turkish business forum
Turkish government aims to increase its trade volume with Gulf countries, which currently stands at $22 billion
OQGN inks $1.2bn financing deal
Deal will provide firm access to capital in dual currencies.OQGN is the exclusive operator of the natural gas transportation network in Oman.
This is considered one of the largest syndicates of Sharia-compliant financing in Oman.
ADNOC L&S buys VLCC
Firm has committed $2 billion for more such carriers.The very large crude carrier is a four dual-fuel engine ship – which can also run on liquefied natural gas.
The carriers, which can carry up to 2 million barrels of crude per voyage, were built in South Korea.
ACWA to get land for Egypt wind project
The Saudi energy developer will be allocated 3,000 sq km of land.Once operational, the wind farm is expected to produce approximately 50,000 gigawatt-hours of clean energy annually.
It will provide electricity to around 11 million households and significantly reduce carbon emissions by 25.5 million tons per year.
Saudi Arabia, Japan issue joint statement on Lighthouse Initiative for Clean Energy Cooperation
RIYADH, SAUDI ARABIA – Saudi Arabia and Japan issued a joint statement on Lighthouse Initiative for Clean Energy Cooperation. The...Recognizing net-zero and clean energy ambitions, both sides decided to establish the KSA-Japan Lighthouse Initiative for Clean Energy Cooperation.
The initiative will serve as a beacon for other countries and regions as they develop their strategies and roadmaps toward their net zero ambitions.
Aramco, TotalEnergies achieve plastic-waste oil to polymer conversion
Riyadh, Saudi Arabia -- Aramco, TotalEnergies and SABIC have completed for the first time in the Middle East and North...The plastic pyrolysis oil, also called plastic waste derived oil (PDO), was processed at the SATORP refinery jointly owned by Aramco and TotalEnergies, in Jubail, Saudi Arabia.
The process allows the use of non-sorted plastics, which can be difficult to recycle mechanically, and consequently contributes to solving the challenge of end-of-life plastics.Â
Dubai posts 44 percent growth in business event bid wins in H1 2023
DUBAI, UAE – The city has registered a strong year-on-year growth of 44 percent in business event bid wins in...Dubai Business Events worked with partners and stakeholders to win 143 conferences, congresses, meetings and incentives in H1 2023.
These events are expected to bring over 94,000 additional visitors to the city, including global experts and leaders in their respective fields.
Jarir Marketing H1 net profit down 4.4%
The company's sales increased by 19.92 percent.The gross profit fell by 1.8% due to discounts to promote sales, and due to the change in the sales mix towards the relatively less profitable sections.
The fall in net profit for H1 was also attributed to an increase in selling and marketing expenses to promote sales.
DSCE gets ISO 50001, net-zero certifications for sustainable energy management
DUBAI, UAE - The Dubai Supreme Council of Energy (DSCE) has received the ISO 50001:2018 in energy management systems and...This followed a comprehensive assessment conducted by W3 Solutionz - USA through CanaGulf International Standardization.
The audit process conducted by CanaGulf International Standardization was based on several guiding principles.
