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...Business Global Aviation
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,...Business
Ardian, Mubadala Capital announce $2.1bn private equity partnership
New York, USA - Ardian, a world leading private investment house, and Mubadala Capital, the asset management arm of Mubadala...The two companies have built a strong relationship since forming a successful initial partnership in 2017
They have curated a portfolio of ten limited partnership interests with a leading group of General Partners predominantly in North America and Europe
Stocks sink globally as central banks hike rates, data fan recession fears
Global stocks sank as central banks hiked interest rates again and signaled they needed to go higher to tame inflation....ECB president Christine Lagarde warned that inflation in the 19-nation eurozone was still "far too high" and more action needed to be taken.
The world's major central banks are seeking to dampen red-hot inflation.
Europe’s biggest oil field hikes production, to provide 7% of continent’s demand
Located in the Norwegian waters of the North Sea, the Johan Sverdrup field which until now pumped some 535,000 barrels...The field, which is believed to hold 2.7 billion barrels of recoverable oil equivalent, will represent about a third of Norway's total oil production.
Equinor owns 42.6 percent of the Johan Sverdrup field, alongside Norway's Aker BP (31.6 percent) and Petoro (17.4 percent), while France's TotalEnergies owns 8.4 percent.
US industrial output decreases in November
Industrial production in the US slumped in November with "broad based" decreases, the Federal Reserve said, as output for bigger-ticket...The Fed has raised its benchmark lending rate seven times this year in an effort to cool the world's biggest economy.
Total output dropped 0.2 percent in November, with the first decline in months defying analysts' expectations of an uptick, according to Fed data.
AMEA Power wins bid
The company will build a 120MW solar project in South Africa.The Doornhoek PV Project will sell electricity to the state utility, Eskom, under a 20-year Power Purchase Agreement.
AMEA Power is the majority shareholder in the $120 million project and has partnered with a consortium wholly owned by African women.
King Khalid airport best performer in Nov in high passenger rush category
.Riyadh, Saudi Arabia---Saudi Arabia’s General Authority of Civil Aviation issued its monthly report on the performance of the kingdom’s international...Saudi Arabia’s General Authority of Civil Aviation issued its monthly report on the performance of the kingdom’s international and domestic airports for the month of November 2022.
The performance is based on 14 basic criteria such as waiting time at customs, baggage and passport control.
ECI inks MoU with RAKEZ to help Ras Al Khaimah’s non-oil trade
DUBAI, UAE - Etihad Credit Insurance (ECI), the UAE Federal export credit company, signed an MoU with Ras Al Khaimah...ECI to provide RAKEZ members access to flexible state-backed trade finance support.
As of November 2022, ECI has facilitated US$71 million worth of secured non-oil trade for businesses operating in Ras Al Khaimah.
Boursa Kuwait, Tadawul sign pact
The deal is expected to boost capital markets in the region.The deal will help cross-listing of companies on both exchanges as they will look to synergize their efforts in the areas of financial literacy
Boursa Kuwait CEO said the signing of the MoU is an indication of their long-term partnership to develop the market and enhance the investment environment across the region
Altawkilat, Saudi auto distributor expanding into UAE
ALTAWKILAT is one of the largest automotive distributors in Saudi, with over 75 years of experience.ALTAWKILAT is one of the largest automotive distributors in Saudi, with over 75 years of experience
It will open its first facility in Abu Dhabi in January 2023, followed by Dubai and Sharjah
Palestinian businesses in West Bank wary of Netanyahu government, cheap goods
The Palestinian govt has no money to support would-be entrepreneurs, environment for foreign investors is too risky and the Israeli...Israeli occupation impacts everything, including tariffs, storage costs and barring Palestinians from exploiting the economic potential of Area C.
The Palestinian Authority is failing the Palestinian stone companies by not defending their local market from foreign competition, say experts.
