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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.

  • Iran agricultural, food exports hit US$4.8bn in 10 months

    TEHRAN, IRAN – The country has exported more than 6.7 million tons of agricultural and food products worth US$4.8 billion...

    Of this amount, 4,944,481 tons worth $2,930,585,728 were dedicated to the export of agricultural products.

    While 1,133,710 tons worth US$931,961,158 were dedicated to the export of food products.

  • Saudi Arabia’s air defense commander examines Russia’s S-350, S-400 systems

    RIYADH, SAUDI ARABIA – The Commander of the Royal Saudi Air Defense Force Lieutenant-General Mazyad bin Suleiman Al-Amr has inspected...

    The Royal Saudi Air Defense Force Commander saw various radars from the Almaz-Antey air defense concern.

    The commander visited the stands of Russian defense industry companies and paid special attention to the air defense systems.

  • Novartis to buy MorphoSys

    The deal gives Novartis access to new blood cancer treatment.

    The all-cash deal will see Novartis offer 68 euros per share for the company, whose stock has soared in recent days amid speculation a deal was looming

    "With the planned acquisition of MorphoSys, we aim to further strengthen our leading pipeline and portfolio in oncology," said Shreeram Aradhye, Novartis' CMO.

  • UBS to reward shareholders

    Losses from costs of absorbing Credit Suisse narrow.

    The bank reported a net loss of $279 million in the final three months of 2023 -- far less than the nearly $500 million analysts had been bracing for

    The result followed a bigger, $785 million loss in the third quarter but for the full year, UBS bagged a net profit of $29 billion in 2023

  • QatarEnergy signs LNG deal with Petronet

    QatarEnergy will supply 7.5m tons of LNG per year to Petronet.

    Qatar is one of the world's top LNG producers alongside the United States, Australia and Russia.

    The first deliveries of gas to India by QatarEnergy's LNG fleet are due from May 2028.

  • Sharjah Chamber posts growth in membership in 2023

    SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) has announced a series of significant achievements of the...

    The number of membership renewals in 2023 hit 55,087 across industrial, commercial and professional sectors.

    Free zone memberships stood at 1,795, while exports and re-exports were valued at approximately US$8.9 billion.

  • Maqta acquires stake in Dubai Technologies

    The majority stake was acquired for $7.6 million.

    The founder will retain a 40 percent stake in the company, and the existing leadership team will remain in management to deliver on the strategic growth plans.

    The company's FY2023 financial performance recorded revenues of AED70.5 million and EBITDA of AED8.4 million.

  • BP posts US$15.2bn net annual profit

    It will deliver US$1.75bn in buybacks for Q4 of last year.

    Its profit after tax surged to $15.2 billion last year from a net loss of $2.5 billion in 2022

    The bumper profit came after slumping into a loss the prior year on its exit from Russia

  • Toyota expects to book profit of US$30bn

    Its third-quarter net profit jumped to US$7 billion.

    The weak yen is also boosting earnings for the auto titan, which now expects to book a net profit of 4.5 trillion yen ($30 billion) this financial year

    Last week, Toyota announced record vehicle sales of 11.2m across its brands in 2023, maintaining its crown as the world's top-selling automaker

  • WEF24: Understanding regional nuances key to success

    Industries are increasingly investing in transformative technologies, including cybersecurity, sustainable solutions and AI, Sapthagiri Chapalapalli tells TRENDS in an interview.

    Industries are increasingly investing in transformative technologies, including cybersecurity, sustainable solutions and AI, Sapthagiri Chapalapalli tells TRENDS.

    Proactive approach in building reference architectures and industry-specific AI use cases positions TCS as a leader in designing tomorrow's technology, he adds.