ACWA Power-led consortium signs deal for wind energy project
Cairo, Egypt -- The Egyptian government signed an agreement yesterday with a consortium led by the Saudi company ACWA Power...Business
E-commerce in F&B sector in Gulf is projected to reach $71.62 bn by 2028
E-commerce in the F&B industry is booming with recent research forecasting it to reach USD71.62 billion by 2028, registering a...These trends have led to an urgent need for the industry to dig deeper into its e-commerce offerings to level up the ecosystem
Trends, trials, and solutions to truly unlock the e-commerce potential will be explored in great depth for the first time at Gulfood 2022
GCC tech markets yet to recover from Covid-19
It's time to review demand generation plans as Covid-19 is still posing challenges for the regional markets, says Michele Montecchio,...Acer believes all features that facilitate remote working such as HD cameras and high quality microphones would be more important assets in 2022.
The company plans to upgrade the entire Acer line-up with the latest CPU generations from both Intel and AMD this year.
Qatar Industrial Co. posts net profit of $38m in 2021
Qatar Industrial Manufacturing Co. has reported a net profit of $38m for 2021 in comparison to net profit of $23m...The company disclosed the interim financial statement for the 12-month period ending Dec. 31, 2021
Qatar Industrial Manufacturing Co. was established in 1990 with a capital of QR 475.2 million
First edition of leading global event on defense to kick off in Saudi
The World Defense Exhibition (WDE) declared that its first edition will be held in Riyadh, Saudi Arabia, from March 6-9,...More than 450 companies from around 37 countries will participate in showcasing the latest defense and security industry technologies.
A day before the start of the show the International Institute for Strategic Studies (IISS) will organize the “Riyadh Defense Forum”.
Al Seer Marine invests in AD Ports
With an investment of $326m, Al Seer now owns 7.36 percent of AD Ports.Founded in 2003 and with AED1 billion in paid-in capital, Al Seer Marine has over 1,200 employees.
As of December 2021, the company’s assets amounted to AED6.1 billion, compared to AED717.81 million at the start of the year.
Cooper Fitch forecasts strong GCC hiring activity to continue in 2022
The Gulf Cooperation Council region witnessed a 40 percent rise in job creation in the last quarter of 2021 compared...Job creation across the region was driven primarily by a significant recovery in the UAE and Saudi Arabia.
Real estate, public, software development, cyber security, sales and marketing sectors witnessed a significant increase in hiring.
Contracts worth $2.3 bn awarded across Aldar development projects
Aldar Properties (Aldar) said on Tuesday that contracts worth more than AED8.5 billion ($2.3 billion) were awarded across its development...A total of 16 contracts were awarded in infrastructure, residential, commercial, and mixed-use projects in Abu Dhabi.
The contracts were awarded to 14 They UAE-based contractors, which contributed to the growth of economy, Aldar said.
Bahrain to offer permanent residency visa to attract talent
Bahrain has launched ‘Golden Residency Visa’ for residents and non-residents with immediate processing of the applications electronically upon meeting the...The move is a part of the Kingdom’s strategy to attract foreign investments where the visa holders will enjoy benefits
Bahrain’s ‘Golden Residency Visa’ will be available for qualifying residents, allowing them to take advantage of the benefits
Volume growth helps AD Ports Group post $230m net profit in 2021
The company posted a net profit of $230m in 2021, from $108m in 2020.As of 31st December 2021, the total assets of the Group stood at AED28.5 billion.
In January 2022, the Group received ownership stakes from ADQ in two listed companies--Aramex and National Marine Dredging Company.
BP profits $7.6bn in 2021
The company aims to cut emissions by 50 percent by 2030.BP posted a net profit of $7.6 billion (€6.7 billion) last year
This followed a loss after tax of $20.3 billion in 2020
