Abu Dhabi residential sector achieves record growth in 2023, says report
ABU DHABI, UAE - Abu Dhabi’s residential sector has witnessed one of the best years on record, where a total...Business Economy
Singapore’s Petrozo Energy setting up Sharjah base to target Middle East
Sharjah, UAE – Petrozo Energy, a leading Singapore-based oil and gas company, has announced a plan to establish a new...Business
Saudi Steel lands contract
It won a $40 million contract from Aramco to supply pipes.Saudi Steel Pipe Co. said, in a bourse filing, that it expects to see financial impact from its new order in the second and third quarters of 2023
The pipe producer, in May, signed a 10-month contract worth $25.86 million with Saudi Aramco to supply the latter with oil and gas steel pipes
Raydan to cut capital by 53%
The food company will reduce the capital to $42.13 million.According to a bourse filing, the company is cutting its capital from $90 million to $42.13 million
The food company's accumulated losses reached $45 million in the first half of the year, representing 53 percent of its share capital
Saudi Arabia emerges as one of the world’s top eSports hubs
The PUBG Mobile tournament was part of Gamers8, a summer festival spotlighting Saudi Arabia's emergence as a global eSports dynamo...Saudi Arabia's interest in gaming and eSports comes from the very top, with Crown Prince Mohammed bin Salman said to be an avid "Call of Duty" player
Saudi gamers are revelling in their country's newfound status and the eye-watering prize pools it brings
ENOC Group announces 50% Emiratisation during Careers UAE 2022
The various energy career opportunities were revealed during ENOC’s participation at the 21st edition of Careers UAE.The various energy career opportunities were revealed during ENOC’s participation at the 21st edition of Careers UAE
ENOC is recruiting young talented Emirati nationals in the energy sector in specialisations including chemical, mechanical, and electrical engineering
Aviation leaders warn travelers of higher ticket prices
Warning travelers around the world of more price pain, the IATA head and Qatar Airways chief have said that the...IATA says airlines posted losses of $180 billion in 2020 and 2021 and expects another $9.7 billion in losses this year
Akbar Al Baker said Hong Kong's aviation sector had been "devastated" by Covid restrictions, the city was no longer a global aviation hub
Qatar World Cup opens new room for UAE hospitality
Hotels in Dubai are reporting an increase in room bookings ahead of the Qatar World Cup 2022, with many expecting...Hotels in Dubai are reporting an increase in room bookings ahead of the Qatar World Cup 2022, with many expecting to be fully booked during the international football event
Spillover demand will undoubtedly be especially for hotel accommodations in cities such as Dubai, Abu Dhabi, Muscat, and Riyadh, says Faisal Durrani of Knight Frank
TAQA secures $1.09 bn funding to finance Mirfa power plant’s debt
Abu Dhabi, UAE-- Abu Dhabi National Energy Company (TAQA) has secured $1.09 billion in funding to refinance debt for Mirfa...Mirfa International Power & Water Company (MIPCO), which owns and operates the plant, secured the dollar-denominated financing from nine international and regional lenders.
The funding was utilized to refinance the company’s debt raised in 2014 as part of a soft-mini perm structure, an increasingly popular financing model within the region.
Dubai first half dhow trade up 21 percent: PCF Corporation
Dubai, UAE--The Marine Agency for Wooden Dhows has facilitated the entry of more than 6,000 wooden dhows during H1, reflecting...Since its establishment in July 2020 by Dubai’s Ports, Customs and Free Zone Corporation (PCFC), the emirate has witness a robust growth in dhow trade, PCFC said.
he Agency supervised the movement of 6,052 wooden dhows during H1 2022, which ferried 1 million metric tons of merchandise from countries across the MENA region and beyond.
Yahsat to pay $53.5m H1 dividend
The dividend will be paid by 14 Oct to all shareholders.The Group said it is on track to deliver a total dividend of at least AED393.3 million for the full 2022 financial year.
The second and final dividend for 2022 is expected to be paid in April 2023.
Wizz to set up fleet in KSA
It aims to set up a fleet of 50 aircraft in the kingdom.More than a quarter of the flights in the unit will be domestic, with about 50 percent focusing on the wider Middle East and the rest primarily on Europe
The company plans to start its services to Saudi Arabia next week, starting with flights to the Gulf city of Dammam from Rome, Vienna and Abu Dhabi
