QFC signs two MoUs
MoUs with BFB, Partior were inked during Web Summit 2024.Company News Business Banking & Finance
Nakilat obtains approval for full non-Qatari ownership
Doha, Qatar - Qatar Gas Transport Company Ltd. (Nakilat), the largest LNG shipping fleet owner in the world, announced that...The net profits of Nakilat increased by 6.3 percent in 2022, to reach $0,38 billion
Last week, Nakilat chose South Korea's HSD Engine to supply spare parts
UAE to spend $20bn on digital tech in three years
The UAE aims to double the contribution of the digital economy to the GDP from 9.7% to 19.4% within the...The UAE aims to double the contribution of the digital economy to the GDP from 9.7% to 19.4% within the next 10 years, and seeks to establish itself as an innovation hub
Govts must prioritize investments in digital infrastructure and R&D into frontier technologies such as AI and robotics, to enhance the digital economy's total factor productivity
UAE, Costa Rica start talks to form economic partnership agreement
UAE minister said that the emirates will continue its efforts to build partnerships with strategic global markets under the country’s...The trade and investment exchanges between the two countries continue to grow as the non-oil trade reached $58.7 million in 2022
The UAE’s investments in Costa Rica span sectors such as IT, tourism, retail, advertising, media, real estate, renewable energy, air transport, and logistics.
Alibaba to split into six groups
Each will be managed by its own CEO and board of directors.The restructuring is likely to enable each separate business to pursue its own fundraising and public listing plans.
Hangzhou-based Alibaba said the moves were intended to "unlock shareholder value and foster market competitiveness".
Germany ponders monitoring Microsoft over anti-competitive practices
Berlin, Germany - Germany's anti-cartel watchdog said Tuesday it was examining if it needed to place US giant Microsoft under close...The Federal Cartel Office said it was taking a first step to see if Microsoft is of "paramount significance across markets".
Big tech companies have been facing increasing scrutiny around the globe over their dominant positions as well as their tax practices.
UAE and Saudi to lead GCC e-commerce boom
The UAE is likely to remain the top e-commerce market in the GCC in 2023 but Saudi represents the largest...E-commerce in the GCC, according to a recent research report, has expanded by 22 percent over the previous two years.
Over 46 percent of online buyers in Saudi Arabia and the UAE planning to continue relying on online retail stores rather than visiting shopping malls.
Bahrain posts highest real GDP growth in nearly a decade
The kingdom witnessed 6.2 percent non-oil real GDP growth, the highest since 2012 and higher than the 5 percent annual...The kingdom also reported a drop in deficit to GDP to -1.1 percent, a drop in debt to GDP to 100 percent and a primary surplus of 3.3 percent.
The Economic Recovery Plan is one of Bahrain’s biggest programs, with over $30 billion catalyzed for investment and reforms made to improve ease of doing business.
ADNOC, BP place $4bn bid for half of Israel’s NewMed Energy
The participation of Emirati firm ADNOC is the latest sign of the quickening normalisation of relations between Israel and the...NewMed, which holds 45% of Israel's Leviathan offshore gas field, said the offer was received on Monday, noting it had appointed an audit committee to examine the deal
BP said that together with ADNOC, it has made offer to take NewMed through an acquisition of the free float and a partial acquisition of its holding company Delek
Russian oil sales to India surge as European buyers turn to other markets
Moscow, Russia--Russian oil sales to India surged more than twentyfold last year as European buyers turned to other markets following the...When EU nations began ending thier reliance on Russian energy supplies, Moscow shifted its oil exports to India and China
Compared to last year, Russia's oil-export revenue dropped by almost half in February, according to the International Energy Agency
Borouge supplies ‘made in UAE’ materials worth $32m in MENA
Abu Dhabi, UAE -- Borouge is supplying sustainable “Made in UAE” polyethylene materials worth AED120 million ($32 million) that are...Borouge’s contribution to these mega projects is driven by collaboration with the local manufacturing companies.
The pipes used in these projects were made from various grades of Borouge BorSafe™ PE100 polyethylene materials.
