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
ConocoPhillips third to join Qatar’s mega gas expansion
ConocoPhillips' chunk of the North Field East project is half the size of France's TotalEnergies, which has a 6.25 percent...No figure for the value of the deal was given but TotalEnergies previously said it had paid $2 billion for its joint venture.
The expansion of the North Field, which has the world's biggest known natural gas reserves, is estimated to cost more than $28 billion.
Expo City Dubai to open on 1 Oct, will house HQ of DP World
Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum said the Expo site will be transformed into Expo City Dubai, which...The new city will continue to host the pavilions of Saudi Arabia, Morocco, Egypt and will be the first WELL-certified community in the region.
Three of Expo 2020’s most visited attractions-- Al Wasl Plaza, the Garden in the Sky observation tower and the Surreal water feature--will remain.
CNN, IMI partner to launch CNN Business Arabic
The news channel will combine the digital first knowledge within the IMI group with the brand recognition and newsgathering capabilities...The news channel will combine the digital first knowledge within the IMI group with the brand recognition and newsgathering capabilities of CNN
The channel will join a network of ten existing CNN-branded partners which operate under license in countries around the world
China’s import of oil from Russia jumps 55% in May
The world's second-biggest economy imported around 8.42 million tons of oil from Russia last month.The world's second-biggest economy imported around 8.42 million tons of oil from Russia last month
The number was also a spike from the 5.44 million tons China imported in May 2021
EU terms blockade of Ukraine grain by Russia ‘real war crime’
EU foreign policy chief Josep Borrell said Monday that Russia should be held "accountable" if it keeps blocking the export...Western countries have demanded Moscow to stop blockading Ukraine's Black Sea ports to allow grain export
French Foreign Minister insisted that "Russia must stop playing with global hunger" as it seeks leverage on the West
DP World, Saudi Ports Authority to establish Jeddah Logistics Park
The port-centric park will boost Jeddah Islamic Port’s re-export activities and reduce the time and cost of logistics for importers...The port-centric park will boost Jeddah Islamic Port’s re-export activities and reduce the time and cost of logistics for importers and exporters
It will also offer processing, labelling, fulfilment, consolidation, de-consolidation, and temperature-controlled storage for cargo
Aramco sets up digital industries
It has tied up with Cognite to bolster digitization in MENA.The alliance announced the launch of CNTXT, which will be headquartered in Riyadh
CNTXT will support industrial digitalization in Saudi Arabia and the wider MENA region
Luxury brands in GCC look to metaverse for expansion
Virtual fashion and technologies will enable us to reduce our carbon footprints and the strain on the planet. Fashion firms...Despite the benefits of the metaverse world to the fashion industry, the technology still is in its early stages
Brands should be cautious of many scammers in this world as there are numerous grabbers and a lot of fraud going on
Ajman DoF adopts Oracle cloud-based management system
Ajman's Department of Finance (DoF) has teamed up with Oracle to adopt a cloud-based resource management system that enables more...The upgrade is part of the emirate's commitment to further improve operations and services and promote the digital transformation of the emirate
Ajman’s DoF’s migration to Oracle Fusion Cloud Applications is expected to increase productivity, reduce costs, improve controls, optimize supply chain management
UAE to attract super rich, say investment trends
One big factor for more HNWIs making their way to the UAE is the ongoing war in Ukraine which has...The UAE tops the list of the ten countries drawing net inflows of the wealthy in 2022, followed by Australia, Singapore and Israel
The report titled "The flow of the world's wealthy in the second half of 2022", tracks private wealth and investment migration trends worldwide
