TotalEnergies reports record annual profit
Net profit came in at $21.4 bn, an increase of 4% over 2022.Business
Saudi more than doubles tourism target by 2030, says minister
Riyadh, Saudi Arabia - Saudi Arabia drew 27 million foreign tourists in 2023 and has more than doubled its goal for...Business Tourism
Air passengers number up, reveals global aviation meet in Dubai
Some of the greatest minds in the aviation industry took to the stage at this year’s Global Aviation Conference in...Air passenger numbers are expected to exceed 80 percent of pre-pandemic levels this year.
The surge would be driven by strong pent-up demand, eased travel restrictions, and growing employment rates.
Saudi China’s largest oil supplier in Q1 despite Beijing’s Russia imports
Riyadh, Saudi Arabia - Saudi Arabia topped the list of oil suppliers to China for the first time in four...Saudi’s oil exports rebounded last month to 8.475 million tons, or 1.99 million barrels per day (bpd).
The Kingdom remained the biggest supplier to China this year, shipping 58.31 million tons of oil till Aug.
Czech billionaire throws lifeline to French leftist daily
Daniel Kretinsky has already heavily invested in French media as owner of Elle magazine and part-owner of the daily Le...Despite increasing its circulation by more than 10 percent over the past year, Liberation has been unable to stem losses.
Kretinsky's high-profile investments in France include minority stakes in retail chain Casino, and in the electronics, books and media group Fnac Darty.
Binance gets MVP license from Dubai virtual assets authority
Dubai, UAE--Binance, the leading global blockchain services provider, said Tuesday it has received the Minimal Viable Product (MVP) license from...The transition to an MVP License from a provisional license means Binance can open a client money account with a domestic bank and benefit from new services.
 It can offer services to qualified retail and institutional investors in Dubai within its internationally benchmarked legislative framework for virtual asset service providers.
Putin accuses European Union of blocking Russian fertilizer
Putin accused the European Union of blocking 300,000 tons of Russian fertilizer from reaching the world's poorest countries. "Our offer......In July, an agreement was signed which allowed Russia to export its agricultural products and fertilizer despite Western sanctions.
The West imposed a litany of sanctions on Russia after it sent troops into Ukraine on February 24.
Aramco says global energy transition goals unrealistic
Oil giant Saudi Aramco's chief blasted "unrealistic" energy transition plans, calling for a "new global energy consensus", including ramped-up investments...Aramco unveiled record profits of US$48.4 billion in Q2 of 2022 after Russia's invasion of Ukraine and a post-pandemic surge in demand sent crude prices soaring.
One of the reasons for energy crisis is declining oil and gas investments, the Aramco chief said.
Dubai realty market records realty deals worth $435m Tuesday
Dubai, UAE--- Dubai real estate market recorded realty deals worth AED 1.6 billion ($435 million) on Tuesday, according to Dubai...These included 439 sales transactions worth AED1.25 billion, in addition to 66 mortgage deals of AED240.64 million, and 72 gift deals amounting to AED175.81 million.
On Monday the market recorded 392 sales transactions worth AED900.8 million, in addition to 84 mortgage deals of AED741.14 million.
DEWA, Desolenator ink pact
Dutch firm will provide water desalination technologyThe innovative design is intended to be 100 percent reliant on solar energy.
As per the agreement, a pilot water desalination plant has been installed at the Jebel Ali Power Plant and Desalination Complex.
‘Standardization key to enhancing quality of local products’
UAE Minister of Industry and Advanced Technology (MoIAT) Dr. Sultan bin Ahmed Al Jaber said that hosting the International Organization...The UAE minister said the ISO annual meeting is in tune with MoIAT's efforts to benefit from international expertise.
Sultan Al Jaber added that such events showcase the UAE's quality infrastructure and deepen partnerships with relevant national and global entities.
Mubadala discovers gas reservoir offshore Malaysia
Abu Dhabi, UAE---Mubadala Energy has discovered a good quality gas reservoir penetrated by the Cengkih-1 exploration well in Block SK320,...The company said preliminary analysis shows a significant gas column of more than 110 metres within the pinnacle carbonate reef reservoir.
Mubadala Energy is the Operator of Block SK320, with 55 percent participating interest in the Production Sharing Contract.
