Maersk and Hapag-Lloyd ink deal
The cooperation deal between the two will begin February 2025.Company News Business
Dubai Gold & Commodities Exchange Feb trades total $13.68 bn
Dubai Gold & Commodities Exchange (DGCX) registered trades with a total value of $13.681 billion in February 2022, as global...The exchange registered a monthly Average Open Interest (AOI) of 125,206 contracts during February and saw its precious metals' portfolio lead trading activity.
DGCX's West Texas Intermediary (WTI) Futures gained traction following increased volatility in oil markets.
Dubai International Boat Show to feature 800 brands from 54 countries
Dubai International Boat Show (DIBS), which will be held from March 9 to March 13, will witness 34 launches and...This is MENA yachting industry's first international in-person event since the COVID-19 pandemic. It will run at Dubai Harbour.
The region home to 12.6 percent of global superyachts, the world's second-highest fleet-to-billionaire ratio.
Telecom Egypt reports $535m profit
Telecom Egypt has posted a net profit of $535 million for 2021, a seventy four percent jump compared to the...The rise in profit came in line with a 16 percent surge in revenues year-on-year, reaching 37 billion Egyptian pounds
The Egypt-based company also contributes to national digitization projects
Al Arabia posts $55m profit
Al Arabia, an advertising firm, has posted a net profit of $55 million in 2021, a 718 percent jump compared...Profits of the Riyadh-based firm, partly owned by media giant MBC group, soared as the advertising industry rebounded from pandemic-hit 2020
The economic recovery, along with a continued digitization push in the Kingdom, led to a 45 percent increase in revenues year-on-year to SR720 million
Smoke robs Iraq of the dream of clean energy
In the oilfields of southern Iraq, billions of cubic feet of gas literally go up in smoke, burnt off on...The flares produce vast amounts of carbon dioxide and other greenhouse gases, contributing to global warming without any economic or social benefit
Currently, only half of the three million cubic feet of gas that comes out of Iraqi oil wells each day is captured and processed
AMEA Power awarded $100m
Under the agreement, a 100MW solar plant will be built in Tunisia.In December 2019, a consortium formed by AMEA Power and TBEA Xinjiang New Energy was awarded the 100MW solar power plant located in Kairouan in Tunisia.
The solar power plant construction is expected to begin by the end of this year.
SEWA links up Al-Arqoub with its power grid
The Sharjah Electricity Water and Gas Authority (SEWA) will start to provide electricity to the Al-Arqoub area, aiming to meet...Work is ongoing to strengthen the network and light the leading and internal roads to the area with approximately 700 lighting poles
Dr. Hassan Al Zarooni, Director of the Electricity Services Department, lauded the Authority's strategy in providing services to all regions
SFD postpones Pakistan debts for development projects
The projects that the SFD contributes to financing through loans and grants in Pakistan amount to around SAR5 billion ($1.33...The fund signed an agreement with Pakistan’s Undersecretary of the Ministry of Economic Affairs Mian Asad Hayauddin in this regard
The signing took place in the presence of Saudi Ambassador to Pakistan Nawaf bin Saeed Al-Maliki and senior officials from both sides
Google Maps and Tripadvisor nix war news in reviews
Both services face a campaign by activists to use online reviews of businesses such as restaurants to get news of...Both services face a campaign by activists to use online reviews of businesses such as restaurants to get news of the war to Russians being fed information from the government.
Safeguards included temporarily blocking new reviews, photos, or videos from being added to Maps for locations in Belarus, Russia, and Ukraine
Saudi Crown Prince opens up on every little thing
Saudi Arabia’s Crown Prince Mohammed bin Salman has created quite a few ripples with his views on all things important...The crown prince said he was leaning towards taking Saudi Arabia towards the ‘real teachings’ of Islam
He also said the country was working towards codifying Islamic law as had been handed down directly by the Prophet
