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AD Ports to invest in Kazakh port

Under the deal, AD Ports Group owns 51% stake.

PIF acquires stake in Saudi Re

The acquisition was made by way of a capital increase.

ADNOC Gas awards contracts

The $2.1bn contracts are aimed at enhancing LNG supply infrastructure.

ADNOC L&S buys stake in Navig8

The company will acquire the remaining stake in mid-2027.

DAE to acquire Nordic Aviation Capital

The terms of the transaction have not been disclosed.
  • stc 2023 revenues is $19.28bn

    Gross profit for 2023 rose 1.1 percent compared to 2022.

    The growth was mainly attributed to the increase in commercial unit revenues by 5.1 percent

    It was also due to rise in carriers and wholesale unit revenues by 1.4 percent in stc KSA,.

  • Construction in China-Saudi Arabia ethylene project begins

    FUZHOU, CHINA - Construction of the main complex of a joint-investment ethylene project, which involves petrochemicals giant Saudi Basic Industries...

    The project is being built in the Gulei petrochemicals base in Zhangzhou city, in eastern China’s Fujian Province.

    The project entails a total investment of $6.3 billion from SABIC and Fujian Energy Petrochemical Group Co. Ltd.

  • Iran-EU trade surpasses US$5bn in 2023, says Eurostat

    TEHRAN, IRAN - The Statistical Office of the European Union (Eurostat) reported that Iran and the 27 European Union member...

    Trade between Iran and member states of the EU recorded a decrease of 9 percent from January to December 2023.

    During that period, the exchange of products between Iran and the EU member states was valued at US$5 billion.

  • KEZAD Group, Al Ghurair Group’s APT ink lease pact to set up manufacturing facility

    ABU DHABI, UAE – Khalifa Economic Zones Abu Dhabi (KEZAD Group) and Al Ghurair Group subsidiary Automotive Precision Technology (APT)...

    The 30,000 square meters advanced manufacturing facility for APT in KEZAD will be located adjacent to Emirates Global Aluminum.

    The facility will be one of the largest manufacturers of aluminum in the world and will be operational by early 2025.

  • Passenger traffic could exceed earlier figures, says Dubai Airports’ CEO

    DUBAI, UAE – The airport here has "every chance" of breaking its record for passenger traffic this year after surpassing pre-pandemic...

    Dubai International, the world's busiest airport for international passengers for nearly a decade, hit 87 million visits in 2023.

    Dubai Airports' official forecast for 2024 stands at 88.8 million passengers, despite the Israel- Hamas war which began in October.

  • SCC committee discusses issues related to Sharjah’s economy and tourism

    SHARJAH, UAE - The Financial, Economic and Industrial Affairs Committee of Sharjah Consultative Council (SCC) held a meeting to discuss...

    The committee addressed the outcomes of its recent visit to Sharjah Commerce and Tourism Development Authority.

    The committee was briefed about the authority’s efforts to stimulate tourism by conducting events throughout the year.

  • Nintendo shares tumble 8.5%

    Its next-generation console will be delayed until 2025.

    A news report said the next console would miss the key Christmas holiday shopping period in December

    The gadget is fading with the console now in its seventh year, but the company is tight-lipped about its plans

  • Qatar real-estate trading volume in January stands at US$521m

    Doha, Qatar--The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at the Ministry...

    According to a bulletin issued by the Ministry of Justice, some 362 real estate transactions were recorded during the month

    The value of Doha municipality's transactions came out at $324 million, as per the real estate market index for January 2024

  • Aamal net profit up 5.7%

    Its gross profit jumped 3.1% to US$137.25m in 2023.

    According to a company's statement. Its gross profit shot up 3.1 percent to $137.25 million.

    Its chairman said the performance of their trading and distribution segment was noteworthy

  • GCC emerges as a cryptocurrency investment hub

    Driven by government initiatives, economic diversification and a tech-savvy population, the region is becoming a prominent center for cryptocurrency investment,...

    Driven by government initiatives, economic diversification and a tech-savvy population, the region is becoming a prominent center for cryptocurrency investment, says an expert.

    Hao Yang of Bybit highlights the sector's regulated nature, its accessibility beyond tech-savvy individuals, and the importance of education and due diligence behind its growth.