Toyota’s Daihatsu resumes domestic production
It will make the Probox van and Mazda-branded Familia van.Business
Red Sea Global, Riyad Bank sign agreement on $522m financing
TABUK, SAUDI ARABIA - Red Sea Global (RSG) has completed a US$522 million (SAR2 billion) financing agreement with Riyad Bank,...Business Banking & Finance Economy
Sheikh Khaled bin Mohamed bin Zayed meets CEOs of INPEX, BP
Energy security, enhancing partnerships were discussed.The meeting discussed ways of harnessing opportunities in renewables and hydrogen.
The meetings deliberated on ways of expanding existing relationships to enable a more sustainable future.
Ukraine blames Russian blockade for making grain export ‘impossible’
Russia's blockade of grain exports makes it "impossible" for fully loaded ships to leave port, Ukraine charged after Moscow claimed...UN Secretary-General Antonio Guterres on Sunday expressed "deep concern about the ongoing situation regarding the Black Sea Grain Initiative.
The July deal to unlock grain exports signed between Russia and Ukraine and brokered by Turkey and the UN, is vital for easing the global food crisis.
ConocoPhillips buys 6.25% in Qatar’s North Field South project
Project is part of the world's biggest natural gas reserves.Energy Minister Saad Sherida al-Kaabi said Qatar was talking with Asian nations over a share in its campaign to increase annual production by 60 percent.
France's TotalEnergies and Britain's Shell both have 9.37 percent stakes in the field, while state-owned Qatar Energy has the remaining 75 percent.
Arab Bank Group net income up 49 percent in first nine months of 2022
Compared to $271.7m in 2021, the net income at Sept end was $405.8m.At the end of September 2022, loans were up by 4 percent from September 2021 level to reach $35.6 billion.
The deposits reached $47.8 billion, up by 3 percent from the 2021 level.
DEWA commissions 389 11kV substations in Q3 of 2022
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has commissioned 389 11kV substations in Dubai in the third quarter...DEWA now has 77 substations of 33kV in service, and 42,529 medium voltage (11Kv or 6.6Kv) substations.
These stations are mainly located at Wadi Al Safa Fifth, Al Merkad, Madinat Al Matar and Al Yalayis 1.
Investment to tackle climate change falls in 2022, says UNCTAD
Cross-border investment in climate change mitigation and adaptation is projected to decline in 2022 against the backdrop of a global...Mitigation projects accounted for 94 percent of international climate investments, whereas adaptation ones continued to lag far behind.
Developed economies made up two thirds of international project finance deals and greenfield investments in renewables.
Lisbon Web Summit begins Tuesday, crypto specialists take prime spots
The conference attempts to bring together start-ups, investors, business leaders and agenda-broadening speakers –- linguist Noam Chomsky and heavyweight boxing...More than 100,000 people are expected to gather in Lisbon for the four-day Web Summit, the first full-scale edition since 2019 following the disruption of the pandemic.
Conference organizer Paddy Cosgrave said there were "a lot of questions to be answered" about crypto, describing it as "largely smoke and mirrors".
Ma’aden, Barrick Gold alliance get license to explore mining site in Saudi Arabia
Saudi Arabia's Ministry of Industry and Mineral Resources announced that Saudi Arabian Mining Company Ma'aden and Barrick Gold Ltd alliance...The site attracted the interest of more than 20 local and international mining companies for an exploration license.
Ma'aden and Baric alliance have committed on spending over US$12 million to accelerate exploration at the Umm Al-Damar site.
Sharjah Taxi to scale up its fleet of hybrid cars by 65 percent
Sharjah, UAE— Sharjah Taxi intends to increase the number of its hybrid cars running on both fuel and electricity. The...The decision is in line with the Emirate’s vision to rationalize the use of energy, in accordance with its development goals and agenda
Sharjah Taxi had previously completed hybrid vehicle conversions towards 65% of its vehicle fleet in the Eastern Region, which now enjoys environmentally-friendly hybrid vehicles
Foreign firms can now get approval for dual listing on Tadawul
Riyadh, Saudi Arabia— Foreign companies will be able to obtain approval for dual listing on the Saudi market, according to...Mohammed Al-Rumaih told media that companies need finance to expand in particular industries, noting that the capital market aims to be the first partner to provide finance
Tadawul Group witnessed its 39th listing of the year on Oct. 25, with 18 listing requests approved by the CMA through 2022
