Shipping insurance rates soar on Red Sea missile attacks
Maritime container transport has sunk by almost one third so far in 2024 compared with a year earlier, according to...Business Geostrategy
Rolls-Royce back into profit
The engine maker swung to profit of $3bn from a loss of $1.64bn in 2022.Company News Business
ADGM invites public feedback on changes to commercial legislation
The Abu Dhabi Global Market (ADGM) has invited public feedback on the proposed amendments to its commercial legislation. As part...As part of ADGM’s ongoing enhancement of regulatory framework, its Registration Authority (RA) is proposing changes, including the introduction of a late filing fees framework.
Rather than attracting a penalty, certain late filings will attract a late filing fee of $150 per month, capped at three months.
Arts DAO NFT drop on June 5
The drop is being created in partnership with NFT artist Kristel Bechara.The community’s NFT collection will feature 2,000 NFTs and prices will start from 0.49 ETH ($1,000).
Arts DAO is registered with the Dubai Multi Commodities Centre (DMCC).
ADNOC acquires drilling units
The two premium jack-up units will be operational in Q3 2022.The units, being acquired from Well Target Five Limited and Well Target Six Limited, are Gusto MSC design, premium independent leg cantilever rigs.
Since listing on the Abu Dhabi Securities Exchange in October 2021, ADNOC Drilling has expanded its fleet from 96 to 104 owned rigs.
East Pipes lands $131m deal
The firm will supply pipes to Saline Water Corporation.The financial impact of the one-year deal will be seen in the company's fiscal year 2022-2023
Established in 2010, East Pipes specializes in the manufacturing of steel pipes and joined the Saudi stock exchange earlier this year
Egypt looks to double exports to $100bn: PM
Egypt has set its eyes upon doubling exports to $100 billion in the next few years, and building a 'strategic...Madbouly said the world is today witnessing governments and peoples suffering from inflation and high prices
He pointed out that integration and coordination with the UAE and Jordan will contribute to achieving an important part of self-sufficiency
Mercedes boss hints at changes to keep Monaco race alive
Mercedes team chief Toto Wolff on Sunday hinted at what may be needed for the under-threat Monaco Grand Prix to...Formula1 race promoters seek to extend the event’s contract with commercial rights holder Liberty Media
F1 is important for Monaco and Monaco is important for F1, but need positive approach, says Toto Wolff
UAE, Egypt, Jordan partner for sustainable economic growth
The countries allocated a US$10bn investment fund, to be managed by ADQ Holding, to accelerate the partnership objectives.The countries allocated a US$10bn investment fund, to be managed by ADQ Holding, to accelerate the partnership objectives
The partnership seeks to enhance growth across food and agriculture, fertilisers, pharmaceuticals, textiles, minerals, and petrochemicals
KSA eyes economic diversification with PIF-KHC deal
Public Investment Fund’s stake purchase in Kingdom Holding is part of the Saudi Arabia’s Vision 2030, Arun Leslie John, Chief...Kingdom Holding Company recently signed an agreement with the Public Investment Fund to sell 625 million shares, representing 16.87% of the company’s share capital
The PIF, which manages over $600 billion in assets, is at the center of Mohammed bin Salman’s ambitious agenda to diversify the Saudi economy away from oil
Shipment value of Saudi cargo trains increases by 25 percent
The shipment value of cargo trains of the Saudi Railway Company (SAR) has increased by 25 percent at the end...The trains transported in excess of 5.5 million tons of minerals and goods.
The levels of traffic safety increased as cargo trains crossed over 1.2 million kilometers.
Saudi Chambers, French group to cooperate in entertainment sector
The Federation of Saudi Chambers, represented by the Saudi-French Business Council, will host a key French delegation representing the entertainment...The French delegation comprises 30 business owners and major French entertainment companies in the field of amusement parks, and manufacturing sports products.
Some 100 business owners and Saudi entertainment companies and the national entertainment committee at the federation could participate in the meeting.
