Mubadala invests in Manipal Health
Manipal Health offers multispecialty care through 30 hospitals.Company News Business
Solutions-Devoteam deal completed
Devoteam Middle East is a subsidiary of Devoteam Group.Company News Business
Zain Group signs MoU with Huawei
Zain Saudi Arabia launched the largest 5G network in the region.The two entities will also work together to define autonomous driving network-level criteria and explore new use cases.
Zain Kuwait’s 5G data traffic already accounts for 46 percent of its total wireless traffic.
Houthi drone attack causes ‘temporary reduction’ in Saudi oil
Top crude exporter Saudi Arabia announced a "temporary reduction" in oil output at a facility run by energy giant Aramco...The Iran-backed Houthis, against whom Saudi Arabia leads a military coalition in Yemen, have repeatedly targeted the kingdom, including Aramco's sites
The latest round of attacks comes after an oil refinery in the Saudi capital Riyadh was targeted on March 10 by a drone, an operation claimed by the Huthis
Mubadala of UAE to invest $395m in UK’s CityFibre
Mubadala of the UAE will invest $395 million into CityFibre, Britain’s biggest independent provider of full-fiber broadband infrastructure, according to...The investment aims to speed up the rollout of CityFibre’s full-fiber lines across the UK
An official announcement from Mubadala or CityFibre could come as early as Monday
Two Ajman organizations pledge to work for women empowerment
The Ajman Business Women's Council and Umm Al-Moumineen Women's Association in Ajman will now work together to empower women. The...Ajman Business Women's Council and Umm Al-Moumineen Women's Association signed an MoU to work for women empowerment.
The focus of both the organizations will be on increasing women's contribution to the process of sustainable economic development.
Alkhorayef records dip in profit
The company's profit declined to $27.4 million in 2021.Despite an increase in revenues by 9.2 percent to SR569 million during the same period, profits declined due to cost of revenue and “increase in projects on-hand"
Although profits dropped, the firm's board of directors approved SR1.5 per share as a dividend for the second half of 2021
Mawani signs MoUs with Huawei, Ericsson to push Smart Ports program
The Saudi Ports Authority (Mawani) on Sunday launched the Smart Ports initiative in a bid to enable Saudi ports apply...The program is aimed at enabling Saudi ports to utilize 5G, AI and other technologies besides boosting their competitiveness..
Ports account for more than 90 percent of the Saudi export movement, according to President of Saudi Ports Authority, Omar bin Talal Hariri.
Al Rajhi Bank to provide digital guarantee service in Saudi Arabia
Al Rajhi Bank of Saudi Arabia will start providing a digital guarantee service through the electronic financial services platform called...The new service intends to ensure smooth financial operations for beneficiaries, according to a bank statement
Al Rajhi Bank customers in the corporate sector will be able to issue digital guarantees and easily link them to the beneficiary electronically via the platform
Aramco profits doubled in 2021
The rise was due to crude prices, as the global economy recovered.Aramco's net income increased by 124 percent to $110 billion in 2021, compared to $49 billion in 2020
It had achieved a net income of $88.2 billion in 2019 before the coronavirus pandemic hit global markets
Prodded by high oil prices, Saudi stocks gain in initial trade
Spurred by yet another round of increase in oil prices, shares on Saudi stock exchanges opened higher on Sunday with...In energy markets, oil prices closed the week higher with Brent crude gaining $1.29 to $107.93 a barrel, while WTI crude up $1.72 to $104.70 a barrel
Anaam International Holding Group rose 6 percent to lead the gainers, while Bupa Arabia for Cooperative Insurance Co. fell 2.2 percent leading the fallers
LNG projects in the Gulf of Mexico boosted as Russian gas alternative
The White House had earlier said that "federal policies are not limiting the production of oil and gas."Tellurian's future liquefaction plant will export 3.6 billion cubic feet LNG per day once completed
The US administration has also said that supply must keep up with demand of energy for the short term
