Reliance, Disney announce giant India media merger
The statement said Disney will hold 36.8 percent, Reliance will hold a 16.3 percent stake, and Viacom18 another 46.8 percent....Business
DP World’s overseas logistics investments cross $10bn
Despite global economic slowdown, the firm continues to expand its partnerships and investments, with key focus on Africa and UK....Despite global economic slowdown, the firm continues to expand its partnerships and investments, with key focus on Africa and UK. Last year, its investments totalled $320m
DP World ranks fifth in the world by total value of direct investments allocated to the overseas logistics services sector, while Amazon and AP Moller Maersk lead the pack
Aramco seeks to become China’s all-inclusive energy, chemicals source
Beijing, China - Saudi Arabia's Aramco said it wants to be an all-inclusive source of energy and chemicals for China’s...Aramco CEO said the company is supplying new lower carbon products, chemicals and advanced materials, all supported by emissions reduction technologies.
"In particular, we see a major win-win opportunity to build a world-leading, integrated downstream sector in China," he said.
Qatar Chamber forms committee to address gold sector issues
Doha, Qatar -- Qatar Chamber has established a committee for gold and jewelry to address issues facing this sector and...The committee will also work to develop the sector as one of the country's important sectors besides resolving its issues.
It also agreed that the gold sector shall be divided into three subsectors: the gold trade, the jewelry trade and the gold and jewelry factories.
DEWA, UAE energy ministry discuss cooperation for clean energy goals
DUBAI, UAE - MD & CEO of the Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer discussed consolidating...DEWA’s current capacity has reached 490 Million Imperial Gallons per Day of desalinated water.
DEWA is also working to increase the capacity of the transmission and distribution networks.
UAE urges investment, action for water sustainability at UN meet
DUBAI, UAE – UAE Minister of Climate Change and Environment Mariam bint Mohammed Almheiri emphasized the importance of collaboration, data...The UAE is on track to reduce total water consumption of its food sector by over 15 percent despite doubling production by 2030.
The UAE’s national plan - the Water Security Strategy 2036 - ensures that programs are implemented on the supply and demand side.
Kuwait’s never-ending political crisis hurts economy
It suffers from constant stand-offs between elected lawmakers and cabinets installed by the ruling Al-Sabah family, despite a parliamentary system...Kuwait, home to seven percent of the world's crude reserves, has little debt and one of the strongest sovereign wealth funds in the world
The oil-rich country, posting large deficits during the Covid-19 pandemic, was buoyed by the rise in oil prices last year
AD Ports launches new service to boost trade between UAE and Kuwait
Abu Dhabi, UAE-- In order to improve commercial connectivity and trade between the UAE and Kuwait, AD Ports Group launched...The preliminary data for 2022 has shown a rise in non-oil trade exchange between the two countries to $12 billion
Owing to a series of partnerships, trade acitivity between the UAE and its neighboring countries has witnessed significant growth
Turkey stops handling oil exports from Kurdistan region: Iraq
The Iraqi oil ministry said that Turkey stopped oil exports from Iraq's autonomous Kurdistan region on Saturday in the wake...Iraq had initiated the proceedings against the neighboring country in 2014, claiming exclusive rights over Kurdistan's oil exports
The regional government in Arbil though, in defiance of Baghdad, continued to export oil through Turkey at a rate of around 450,000 barrels a day
Banks face reduced profits as CBDCs gain traction
The emergence of interoperable central bank digital currencies may lower costs and reduce settlement risks, but may hit bank revenues...The emergence of interoperable central bank digital currencies may lower costs and reduce settlement risks, but may hit bank revenues from cross-border transactions, warns Moody's
Although CBDCs promise faster, cheaper, and safer services, they could diminish banks' roles in the new economic landscape, affecting revenues from cross-border payments, it adds
Saudi Arabia’s TASI ends the week higher while UAE markets fall
Several factors contributed to the fall in UAE markets, including a decline in oil prices, worries about multinational banks' health.The primary index of the Abu Dhabi Securities Exchange fell by 0.5 percent, while the Dubai market's main index dropped by 0.9 percent.
In Dubai, losses in the industrial and financial services sectors led to a 0.5 percent drop in the main index on Monday.
