China steps up green transition drive to meet carbon-emission goals
Beijing, China--China is moving away from traditionally energy-intensive industrial sectors toward green development across key sectors, in efforts to fulfill...Business
stc 2023 revenues is $19.28bn
Gross profit for 2023 rose 1.1 percent compared to 2022.Company News Business Economy
Elon Musk says close to 100 Starlinks ‘active’ in Iran
San Francisco, United States--Nearly 100 Starlink internet terminals are currently operating in Iran, SpaceX chief Elon Musk said Monday.The tycoon had...Musk had promised to bring the satellite internet network to the country in September as Iranian authorities imposed increasingly severe access restrictions
Iranians have long used VPNs to access sites blocked in Iran -- even the foreign minister has Twitter account despite the network being blocked in the country
Saudi EXIM signs deal with MITSUI
The deal allows for joint cooperation between the two.The agreement will allow the two parties to benefit from their potential, and to provide credit solutions that support the export activities of Saudi non-oil goods and services
General Manager of MITSUI & CO., MIDDLE EAST LTD, praised this cooperation, which opens new windows for cooperation with the Saudi EXIM Bank
Dubai Chamber unveils fintech, payments business group
Dubai, UAE-- Dubai Chamber of Commerce has unveiled a new financial technology (fintech) and payments business group to join the...The launch of the new business group is part of the chamber’s plans to increase the number of business groups that represent economic sectors and activities in Dubai
The fintech and payments business group will focus on ways to adopt the highest standards in providing businesses financial services and payment solutions
Sustainable digital shift in GCC need of the hour
Sustainability remains key focus as the UAE and Saudi Arabia speed up digitalization, which has been the fundamental pillar of...Gartner expects that by 2025, 50 percent of chief information officers (CIOs) will have performance metrics tied to the sustainability of the IT organization.
In the Arab Gulf, national economic visions aimed at alleviating petrochemical dependence have put renewable energy sources front and center.
UAE announces inclusion of Creative Zone in NextGenFDI initiative
ABU DHABI, UAE - The Ministry of Economy has announced that Creative Zone, one of the UAE's largest consulting and...The NextGenFDI program, which was launched in July 2022, aims to attract digitally-advanced companies to the UAE.
NextGenFDI includes fast business licensing, group visa issuance, fast access to banking facilities, as well as access to educational and cloud services.
Groundbreaking of integrated 450,000-sqm Metal Park held in KEZAD
Abu Dhabi, UAE-- The ground breaking of a 450,000 sqm integrated Metal Park in Abu Dhabi was attended by senior...The Metal Park Investment ME's Park will be equipped with state-of-the-art facilities to support storage and handling.
Membership will enable Metal Park Investment ME LTD’s clients to adapt to market demand without infrastructure constraints.
Dubai Land Department launches its strategic plan 2026
DUBAI, UAE : The Dubai Land Department (DLD) launched its new strategic plan and vision, shaping the features and landmarks...The new strategic plan is in line with the national agenda to build a better economy.
DLD has a mission of enabling the real estate community by providing seamless services, effective legislation and integrated data.
DEWA’s hydroelectric power plant in Hatta is 59 percent complete
DUBAI, UAE -Â The Dubai Electricity and Water Authority (DEWA) under-construction pumped-storage hydroelectric power plant site in Hatta is 58.48...This is the first station of its kind in the GCC, with investments of up to US$387 million.
The power plant will have a production capacity of 250 megawatts, a storage capacity of 1,500 megawatt-hours.
ACWA Power seals $2.4 bn deal
The firm signed PPA with the National Electric Grid of Uzbekistan.ACWA Power purchased three wind power special purpose vehicles (SPVs) to establish a 1.50-gigawatt (GW) wind farm in Kungrad.
Upon implementation, the new wind farm is expected to offset 2.40 million tons of carbon emissions annually and power 1.65 million households.
Kuwait exports first shipment of quality diesel to shortage-hit Europe
Kuwait City, Kuwait-- Kuwait National Petroleum Company has exported the first shipment of the advanced diesel fuel to the European...Kuwait National Petroleum Company shipped 66,000 tons, and the shipment was produced with special specifications that fulfil the European markets' requirements.
The energy sector in Europe faces unprecedented crisis and upsurge in the prices of electricity and gas, especially after launch of Russian-Ukrainian war.
