Goldman Sachs, Mubadala ink pact
The two firms have signed a $1 billion private credit deal.Company News Business Economy Global
Hyperloop progress: Racing ahead or falling behind?
Over a decade after Elon Musk's hyperloop proposal, no commercial operations have begun, and Virgin Hyperloop shut down in 2023...Business
Abu Dhabi Chamber looks to boost trade ties with Mexico
Abu Dhabi Chamber of Commerce and Industry has held discussions with a business delegation from Mexico to boost trade ties...The Ambassador called on Emirati investors to leverage the facilities his government provides for foreign investors
The meeting discussed boosting trade cooperation and opening up new doors for economic cooperation between the two sides
Saudi crude oil exports jump to 147,000 barrels per day in April
Crude oil exports of Saudi Arabia grew 147,000 barrels per day in April to 7.38 million, a level not seen...Exports of crude rose by 2 percent in April from 7.24 million bpd in March 2022
As for the production of crude, in April it grew by 141,000 bpd to 10.44 million bpd
GCC countries likely to issue less debt this year
The Gulf region seems to have a better fiscal positions thanks to high oil prices and the recovery of the...The region seems to have a better fiscal positions thanks to high oil prices and the recovery of the economies from the Covid-19 related woes.
Analysts last year were especially concerned about Bahrain and Oman whose government debt ratios had risen sharply in recent years.
Al Seer acquires 2 VLCCs
Each carrier has a carrying capacity of 320,000 deadweight tonnage.The VLCCs allow for crude oil cargo, provisions, lubricant and fuel.
Under current market conditions, these newly acquired tankers are expected to provide estimated returns of more than 20 percent.
Air traffic to reach full capacity by 2023 despite uncertainty
Air passengers are expected to hit 83 percent of pre-pandemic levels this year and the aviation industry's return to profit...Industry losses are expected to drop to $9.7 billion in 2022, an improvement from $42.1 billion in 2021.
The aviation industry was sent reeling by the pandemic, with passengers down by 50 percent in 2021.
Abu Dhabi-based Al Roeya newspaper closed down
The CEO of IMI Nart Bouran reportedly visited Al Roeya's Dubai office to announce that the management has decided to...More than 100 journalists, editors and others lost their jobs as the Arabic newspaper Al Roeya shuts down
The last edition of the business newspaper will be printed on Tuesday
UAE joins global clean energy partnership body
The partnership will enable access to a global hydrogen knowledge database and encourage cooperation with related initiatives and concerned entities.Joining the global initiative will support the UAE's long-term policies related to energy and hydrogen
It will boost the UAE's stature as a leading contributor to the development of international policies related to hydrogen
Saudi Arabia lets citizens visit Turkey as bilateral relations improve
At the beginning of the pandemic, Saudi Arabia imposed a rule against all foreign travel, and as of last month...The move comes two days before Crown Prince Mohammed bin Salman is expected to visit Turkey.
In May, national flag carrier Saudia resumed flights to Turkey, but citizens were unable to travel there.
EDB to showcase its financing solutions at ‘Make it in Emirates Forum’
Emirates Development Bank (EDB) will participate in the first "Make it in the Emirates Forum" to be held on 21-22...The forum is organized by the Ministry of Industry and Advanced Technology.
EDB is a key partner in the Ministry’s efforts to empower the industrial sector.
Lebanon to expel Syrian refugees if not repatriated: Mikati
Prime Minister Najib Mikati on Monday said Lebanon was ready to expel Syrian refugees living in the country if the...Lebanon, grappling with its worst ever economic crisis, has the world's highest proportion of refugees in its population.
The government estimates that Syrians account for almost a quarter of its more than six million residents.
