ADNOC Gas to pay $3.41bn dividend
It includes $1.7 billion scheduled for distribution in Q2 2025.Company News Business
Heathrow to resume some flights after power station fire
London's Heathrow Airport said it would resume "some flights" later Friday after a fire at a power station grounded planes...Business
Several nations eager to join Charter of Cooperation, says OPEC Secretary-General
ABU DHABI, UAE - Secretary-General of the Organization of Petroleum Exporting Countries Haitham Al Ghais said that OPEC is in...The names of these countries will be announced after the completion of the ongoing consultations, the OPEC chief said.
He said the Charter helps facilitate dialogue and exchange views regarding conditions in the global oil and energy markets.
WEF24: AI-generated drugs promise cost reduction
AI is playing a critical role across the biomedical spectrum, from accelerating drug discovery to improving care delivery systems, says...AI is playing a critical role across the biomedical spectrum, from accelerating drug discovery to improving care delivery systems, says Dr Alex Zhavoronkov of Insilico Medicine.
The latest technology enables end-to-end systems, and today, what we see is the true pinnacle of AI-powered drug discovery: the integration of AI and robotics, he adds
Toyota’s Daihatsu resumes domestic production
It will make the Probox van and Mazda-branded Familia van.The Toyota-owned firm's factory in Kyoto resumed manufacturing of the Probox van and Mazda-branded Familia van, a Daihatsu spokesman told AFP
Daihatsu will resume production of 10 other models on February 26, after the transport ministry confirmed they met safety regulations, it said last week
Barwa Real Estate net profit up
It posted an 8% jump in net profit to US$337m for last year.The developer's earnings per share (EPS) amounted to QR0.316 for the year ended December 31, 2023 compared to an EPS of QR0.292 in 2022
Its board of directors proposed the distribution of a cash dividend of 18 percent of the shares’ par value at the rate of QR0.18 per share
SCCI and Oman Chamber aim to boost investment cooperation
Sharjah, UAE--The Sharjah Chamber of Commerce and Industry (SCCI) and the Oman Chamber of Commerce and Industry (OCCI) discussed ways...The two chambers discussed opportunities in several sectors, with a specific focus to support start-ups
The delegation from Oman invited the private sector in Sharjah to take part in the Suhar Investment Forum
Riyadh Season opens registration for SEVEN Concours 2024 global car auction
Riyadh, Saudi Arabia - The Riyadh Season has announced the commencement of registration for the SEVEN Concours 2024 exhibition, the...The season will feature the most prestigious car manufacturers, making it one of the premier events that put Riyadh on the map for hosting international car exhibitions
The exhibition, scheduled from March 1 to 7 as part of the Riyadh Season activities, brings together the world's rarest, most luxurious, and fastest cars in one venue
In Middle East, ‘manufacturing’ is a new buzzword
Form Saudi Arabia to the UAE, Qatar to Kuwait, governments of the region compete to jumpstart an industrial sector. But...The industrial sector will contribute up to $1trillion annually to the GDP of the region
Many experts estimate the sector can generate up to 15 million jobs in the next decade
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,...Red Sea Global will develop the highly anticipated Four Seasons Resort at The Red Sea destination.
The Four Seasons Resort, situated on Shura Island, is set to be a luxury property offering 159 exquisite guest rooms.
MODON attracts US$34m investment to develop military industry in Saudi Arabia
RIYADH, SAUDI ARABIA - The Saudi Authority for Industrial Cities and Technology Zones (MODON) has attracted new investments worth US$34...This will be used to localize military aircraft industries, including drones and provide repair, maintenance and overhaul services for ships.
Securing such capital is one of the authority's objectives and seeks to promote investment opportunities in industrial cities.
Bezos sells $2bn Amazon shares
He reportedly intends to sell, next July, 50 million shares of the group.Bezos sold on Wednesday and Thursday some 12 million Amazon shares, at between $168-171 per share.
A previous stock market document, out Wednesday, reported his intention to sell, next July, 50 million Amazon shares.
