Aramco chief expects oil demand to rise by 1.5 mbpd in 2024
Riyadh, Saudi Arabia - Saudi Aramco's President and CEO, Amin Nasser, anticipates a surge in global oil demand, projecting an...Business
Emirates Steel Arkan signs $2bn deal
The 5-year, iron-ore pellets supply deal was signed with BSC.Company News Business
Gulf Air, Texel Air sign MoU
They will explore charter agreements, engineering and maintenance activities.Texel Air is a Bahraini registered airline and maintenance repair organization (MRO) formed in 2013.
It is dedicated to providing third party cargo charter operations to a wide range of customers with diverse requirements.
IDC forecasts Saudi ICT spending to touch $33bn in 2022
The International Data Corp. has predicted Saudi spending on information and communications technology to touch $33 billion in 2022, a...The Saudi technology sector expanded 8 percent between 2019 and 2021, to reach a value of $32.1 billion
The global market intelligence provider has also described the Saudi ICT sector as one of the most rapidly growing markets in the region
ACWA Power and partners begin work on green hydrogen project
ACWA Power of Saudi Arabia and its partners have begun work on a big green hydrogen project in NEOM.The partners announced a $900 million contract for the engineering, procurement and construction of the project
In July 2020, Air Products, together with ACWA Power and NEOM, announced an agreement for a $5 billion world-scale green hydrogen-based ammonia production facility
Kuwait’s CGC signs deal
The $125m deal includes engineering works for PAHW.The contract was signed ALARGAN National General Trading and Contracting Company to execute a project in Jaber Al-Ahmad City.
CGC was established in 1965 in Kuwait and was listed on the Kuwait stock exchange in 2006.
Stc to buy stake in Giza
The firm will buy controlling stake for $158 million.the Saudi company will buy 89.49 percent of Giza Systems from Inergia Technologies for Information Systems, in addition to 34 of Giza Arabia, a subsidiary of Giza Systems
It's subject to approval from the authorities in Saudi Arabia and Egypt, the company added
SABIC eyes eight mega projects worth $2.7bn
The Saudi firm says it seeks to capitalize on opportunities through innovative and sustainable solutions, focusing on petrochemical products in...The Saudi firm seeks to capitalize on opportunities through innovative and sustainable solutions, focusing on petrochemical products.
Gulf Coast Growth Ventures, SABIC's joint venture with ExxonMobil in southeast Texas, is also likely to begin operation in 2022.
HDFC Bank of India to merge with parent, forming $237bn company
India's largest private bank will merge with its largest mortgage lender to form a $237 billion financial giant, both companies...HDFC Bank will absorb its parent company, the Housing Development Finance Corporation (HDFC), in what will be one of the country's biggest-ever merger deals
The twin firms together manage assets worth 25.61 trillion rupees ($339 billion) and had a combined balance sheet of 17.87 trillion rupees at the end of last year
UAE announces $2m prize for startups in agritech innovation
The UAE has announced a prize of up to $2 million for startups that can offer technology innovations to transform...The FoodTech Challenge is organized by the UAE Ministry of Climate Change and Environment and Tamkeen.
It is targeted at early-stage start-ups, ranging from international university-based research teams to individual entrepreneurs and small firms.
Industries Qatar, Mesaieed Petrochemical Holding to establish PVC plant
Being the first PVC plant in Qatar, the project aims to position Qatar as a new regional player in the...Being the first PVC plant in Qatar, the project aims to position Qatar as a new regional player in the PVC production
The plant will not only boost private sector industrial investments, but also provide a home-grown source of PVC
76.5% of firms in Dubai recorded growth during Expo 2020: Report
Dubai Chamber of Commerce facilitated 1,500 bilateral business meetings between UAE investors and their global counterparts, and received 1,746 visiting...Titled, 'Business Integration for Growth, Digital Transformation and Global Partnerships' the report was developed by the Chamber in collaboration with Oxford Business Group
Dubai Chamber of Commerce organized 98 events during Expo 2020 Dubai, which were attended by more than 25,000 participants from over 130 countries
