Abu Dhabi Airports appoints Elena Sorlini as Managing Director and CEO
Abu Dhabi, UAE - Abu Dhabi Airports, the operator of Abu Dhabi's five commercial airports, has announced the appointment of...Company News Business
Tabby launches in Egypt
The shopping app looks to widen its market in MENA.Tabby works with multiple brands to offer flexible payments at checkout
It is currently ranked among the top 10 shopping apps in the Middle East with more than 2 million active shoppers
Porsche to enter stock market before the end of 2022: VW
The auto giant officially signalled its intention to go ahead with the IPO on February 24, the day that Russia...The luxury brand continues to attract the attention of investors, who value Porsche between 60 and 85 billion euros
Suitors including the Qatari sovereign wealth fund and luxury brands group LVMH have registered an interest in the high-end carmaker
US says oil supply must shore up growth after OPEC+ cut
In a thinly veiled criticism of the OPEC's decision to cut supply, the US said that oil production must be...The United States had pressed OPEC+ to increase output to bring down energy prices that have fueled decades-high inflation
The G7 group of industrialized powers, in a bid to curb Moscow's funding of its war in Ukraine, agreed Friday to move towards capping the price of Russian oil
DMCC puts on display world’s largest pink diamonds at DDE
DMCC has hosted the unveiling of one of the world’s largest internally flawless fancy vivid pink diamonds – the "Williamson...The 11.15 carat flawless pink diamond started its roadshow in Dubai, one of the world’s leading diamond trade hubs
Expected to fetch over US$21 million, the Williamson Pink Star diamond has the potential to set a new price per carat record given its incredible purity
Despite sanctions, Russia energy exports vault to US$158bn
In spite of the Western sanctions, Russia has raked in some $158 billion in energy exports in the six months...While the EU has stopped purchases of Russian coal, it is only progressively banning Russian oil and it has not adopted any limits on the imports of natural gas
The G7 countries, meanwhile, vowed Friday to push forward urgently to impose a price cap on Russian crude, a move that would deprive Russia of much of the revenue
ESG strategy of firms in Middle East must not derail
Winning firms are exploring innovative alternatives, guided by a strong sense of purpose and a flexible strategy. Disruption doesn’t demolish...Over the past few years, shifting investor and customer expectations cemented the importance of ESG in the corporate world, allowing it to withstand these kinds of shocks
The ESG has become an explicit decision-making consideration for companies, rising to the level of finance concerns, risk, operational integrity, and customer impact
Saudi Arabia appoints new crypto chief to further its digital program
The kingdom is the largest economy in the Middle East, making it a key market for any firm operating in...Until now, Saudi had shown a circumspect approach on virtual assets, as officials questioned the speculative nature of them.
With the emergence of UAE as a global crypto hub, Saudi displayed urgency to draft formal rules pertaining to the asset class.
Dubai records over US$653m in realty transactions on Monday
DUBAI, UAE - Dubai real estate market recorded 568 sales transactions worth US$373 million (AED1.37 billion) on Monday, data released...Dubai real estate market recorded 568 sales transactions worth US$373 million on Monday.
The sales included 503 villas and apartments worth US$283 million and 65 land plots worth US$88 million.
ADNOC announces $548m contract for Lower Zakum field
Abu Dhabi National Oil Company (ADNOC) Monday announced the award of a US$548 million (AED2.01 billion) contract to build a...The award will increase the Lower Zakum field’s gas production capacity from 430 million to 700 million standard cubic feet per day.
The project will see the construction of a new subsea pipeline that will run 85 kilometers from Zakum West Super Complex to Das Island.
Green hydrogen production in UAE to touch 5.7m tonnes in 2030
Innovative technologies to produce green hydrogen using clean and renewable energy are witnessing rapid developments and studies indicate that green...The UAE aims to acquire 25 percent of the low-carbon hydrogen market which is expected to reach more than $400 billion.
The production of green hydrogen is mainly carried out through electrolysis using renewable energy sources.
