Al Sada to be chairman of Rosneft

The new chairman has a wide experience in the energy sector and is at present chairman of the board of trustees of the Doha University of Science and Technology

He has served as Qatar's minister for energy and industry, apart from holding the chairmainship of the Board of Qatar Petroleum, now called QatarEnergy

Saudi Arabia, UAE allocate $6bn to support their operations in Iraq

The FICC's president Abdul al-Razzaq al-Zuhairi emphasized the need for adhering to World Bank standards in the management of import and export of goods

Al-Zuhairi further elaborated on the role of the federation in establishing business councils and finalizing agreements, such as the one reached with Saudi Arabia and the UAE

AD Ports Group buys logistics services provider Noatum for $0.72bn

The acquisition has received approvals from all regulatory bodies, including from Spanish Authorities, after it attained clearance from the European Commission earlier this year

The Spain-headquartered company generated revenue and EBITDA of AED 6.4 billion ($1.74 billion)) and AED 448 million ($122 million) in the last twelve months

UAE economy set to post strong growth in second half of this year

The economy is expected to sustain its growth on the back of a rise in the purchasing managers' index to its highest level in five months in May this year

The robust increase in new business, according to the S&P Global, underlined growing confidence across surveyed firms about economic prospects

AI helps KSA rule Global Government Strategy Index

Saudi Arabia's impressive performance in the 2023 Global AI Index is attributed to its comprehensive National Strategy for AI and dedicated government agency

Germany ranks second, while China takes third spot in the Tortoise Intelligence's Government Strategy Index for AI that evaluates 100 criteria across seven indicators

Saudi tourism on growth path despite hiccups

The $500 billion development on the Red Sea coast, which will include luxury resorts, residential developments, and a nature reserve, is one of the key tourism projects.

The Kingdom is also developing the UNESCO World Heritage Site of AlUla into a major tourist destination.

Israel okays deal with Lockheed Martin to buy F-35 fighter jets

In May 2018, Israel's military said it had become the first country to use F-35s in combat.

The deal to purchase 25 F-35 jets- expected to be signed in coming months - will expand the country's fleet of the aircraft to 75.

Sharjah’s literary organization SILA gets new director

Since its creation in 2020, SILA has boosted communication between publishers, authors, translators, illustrators and other stakeholders.

SILA also ensures publishers’ and writers’ rights are protected and stimulates the Arabic publishing market.

Iraq’s oil export revenues in June hit $7 billion, says SOMO

Iraq exports crude oil worth over US$7bn in June 2023

The majority of these exports - amounting to almost 99 million barrels - originated from the oil fields in central and southern Iraq.

The average daily export volume was pegged at over 3.3 million barrels. The average price per barrel for the month was recorded at $71.11.