Construction in China-Saudi Arabia ethylene project begins
FUZHOU, CHINA - Construction of the main complex of a joint-investment ethylene project, which involves petrochemicals giant Saudi Basic Industries...Business Economy Geostrategy
EasyJet cuts losses
The airline had taken a sizeable financial hit from disruptions.As airport staff shortages spark flight cancellations, EasyJet said it booked a one-off charge totaling £133 m.
The airline posted pre-tax loss of £114 million in the group's third quarter, or the three months to end of June.
EU agrees to reduce gas consumption by 15 percent
The usage is reduced to counter the dependency on Russian gas supplies.Russian gas giant Gazprom will slash supplies to Europe from Wednesday, threatening economies like Germany.
27 European Union members have imposed economic sanctions on Russia to punish it for its invasion of Ukraine.
ECI signs MoU with HFZA, SAIF
The three entities will support Sharjah exporters and re-exporters.As per the agreement, ECI will offer its range of flexible trade credit insurance and financial solutions to SMEs in the free zones.
ECI will also help the companies in the free zones to successfully carry out export to foreign countries.
ADNOC Logistics acquires Zakher
The financial details of the transaction were not disclosed.ADNOC L&S will add 24 jack-up barges and 38 offshore support vessels from ZMI, growing its total fleet size to over 300 units.
Zakher Marine International will continue operating as a standalone entity under ADNOC L&S, led by Ali Hassan El Ali as CEO.
Sono Motors, German start-up, to roll out solar car next year
The Sion, a five-person family car covered completely in solar panels, should enter into serial production in the second half...The car, which boasts a battery range of 305 kilometers, is aimed at families as well as car sharing services
The large black Sion hatchbacks are covered with 456 solar cells which allow it to generate on average enough electricity over a week to power the car 112 kilometers
Al Zamil buys tower for $133m
The saudi developer bought the residential tower in Makkah.The company aims to provide high quality development services for luxury housing solutions to support the accommodation and hospitality sector
Masar Makkah was developed by Umm Al-Qura Co. for the development and construction of services and amenities to serve Makkah residents
Sharjah Airport handles 6 million passengers in H1 2022
The airport also saw considerable growth in the number of flights, with a total of 41,189 aircrafts operating in H1...The airport also saw considerable growth in the number of flights, with a total of 41,189 aircrafts operating in H1 this year
In H1 2022, the airport handled over 96,000 tons of cargo compared to 63,844 tons the previous year, accounting for an increase of 50.39 percent
JCDC, Cruise Saudi to develop Jeddah Central Project design
The Marina and terminal will contribute to transforming Jeddah’s coastline.The Marina and terminal will contribute to transforming Jeddah’s coastline
The project will also foster growth of the Kingdom’s marine tourism industry
Algeria discovers oil and gas fields in Sahara desert
Algerian state oil firm Sonatrach announced on Monday new oil and gas discoveries in the North African country's Sahara desert,...The energy company said that gas deposits were found in the Illizi Basin
On July 19, Eni, US major Occidental, France's Total and Sonatrach signed a $4 billion oil and gas production-sharing contract for the Berkine field
Rockets hit Emirati-owned gas complex in north Iraq
Three Katyusha rockets hit a gas complex in Iraq's autonomous Kurdistan region on Saturday, a local official said, in the...In June, the site owned by UAE energy company Dana Gas was targeted three separate times by rockets that did not cause casualties or damage
The gas field lies between the cities of Kirkuk and Sulaimaniyah, in a region administered by Kurdish authorities
