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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.

  • Hong Kong court orders liquidation of China’s Evergrande

    Evergrande's demise has been closely watched as it was once a pillar of China's economy, with the construction and property...

    The order kickstarts a long process that should see Evergrande's offshore assets liquidated and its management replaced

    The company's executive director vowed the Hong Kong court's decision would not impact its operations domestically

  • Bahrain and Hungary aim to boost trade, investment ties

    Budapest, Hungary--Bahrain and Hungary have held discussions to boost economic and trade ties between the two countries. In this regard,...

    Chairman of Bahrain Chamber of Commerce and Industry said the Bahraini-Hungarian Business Forum aimed to boost trade, investment ties between the two countries

    According to Gabor Jenei, the CEO of Hungarian Export Promotion Agency (HEPA), Hungary's exports to Bahrain reached $15m and Bahrain's exports to Hungary at $8m

  • Ghitha 2023 revenue at $1.2bn

    Ghitha reported an operating profit of $69 million in 2023.

    Ghitha's revenue milestone indicates a significant growth rate of over 100 percent compared to 2022.

    This is due to the successful execution of strategic acquisitions and expansion across diverse categories.

  • Toyota to suspend shipments of 10 models due to testing irregularities

    Tokyo, Japan - Toyota said Monday it was suspending shipments of 10 models that use engines linked with testing irregularities at...

    The affiliate, Toyota Industries, did not conduct proper horsepower output testing for the certification of three diesel engine models, the parent group said

    Toyota Industries said in a separate statement that its workers adjusted the fuel injection amounts to make the data "better-looking"

  • Dubai Investments buys GFP stake

    GFP secures nearly $60 million in equity financing to expand its network.

    GFP aims to create the leading fertility network in the region, and one of top 10 globally, according to a statement.

    Saudi Arabia will be the focus of the investment. GFP’s facility in Riyadh is currently under construction and is due to commence operations later this year.

  • Hamad Al Marar is EDGE CEO

    EDGE has a local and global orderbook of over $5billion.

    Al Marar succeeds Mansour AlMulla, who is returning to ADQ Group following a successful two-year managerial secondment to EDGE.

    He will utilize his leadership skills and experience within the UAE’s defense industry to guide the group into the next phase of its evolution.

  • Qatar’s foreign merchandise trade surplus $5.13 billion in Dec 2023

    Doha, Qatar - Qatar's foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus...

    The trade balance showed a decrease of about QR 9.5 billion, or 33.7 percent, compared to December 2022.

    The YoY decrease was mainly due to lower exports of Petroleum Gases and Other Gaseous Hydrocarbons.

  • Ryanair quarterly profit dives 93%

    The carrier flies mostly throughout Europe.

    The carrier, which flies mostly throughout Europe, said net profit slumped to 14.8 million euros ($16 million) in the final three months of 2023

    Chief executive Michael O'Leary said Ryanair was narrowing its forecast for annual net profit to a range of 1.85 billion and 1.95 billion euros

  • DAE, Turkish Airlines ink pact

    Turkish Airlines will take on lease 10 Boeing 737-8 aircraft.

    The aircraft are scheduled to be delivered in 2025.

    DAE owns and manages 96 737 MAX family aircraft.

  • AD Ports launches Noatum Logistics Middle East

    The firm said the new brand will replace MiCCO Logistics.

    The company said customers will be able to leverage Noatum’s global network of 16 terminals and 143 international offices, presence across 67 ports

    The rebranded firm will embark on a rebranding campaign in the next few weeks, which will see its brand reflected across key assets and locations in the region.