EVA Air orders 33 Airbus planes
The deal could be worth as much as $8.5 billion.Company News Business
Nakilat expands its fleet
The Qatari firm placed orders for 6 carriers with HSHI.Company News Business
TASI rises for 10th session, UAE bourses fluctuate
The surge in oil prices fueled the start of the week's high for the Saudi stock market, while the UAE...First Abu Dhabi Bank's share price rose by 3.9 percent to support the 1.6 percent advance in the Abu Dhabi index
With Al-Rajhi Bank up 1.5 percent and SABIC's share up 1.8 percent, the Saudi index rose 0.5 percent on Wednesday
Points of Sale terminals in Saudi exceed 1 million, says SAMA
The Saudi Central Bank (SAMA) announced that the number of Points of Sale (PoS) terminals inside the kingdom have exceeded...These terminals can be found at commercial sales outlets in more than 180 cities and villages.
PoS terminal transactions reaching more than 5 billion by the end of 2021, compared to 2.8 billion transactions in 2020.
Lebanon to sign a deal with Jordan to ease power shortage
Crisis-hit Lebanon will sign a deal with Jordan next week to bring in electricity via Syria to help ease grueling...The agreement is part of a wider government effort to eventually provide state electricity for eight to 10 hours a day
The deal will provide Lebanon with up to 250 megawatts of electricity during the day and 150 megawatts at night
S&P warns of fewer sukuk issues during 2022
Sukuk issuance volumes will not grow significantly in 2022 as global interest rates rise and funding needs for Gulf economies...Central bank interest rates tend to respond to moves from the US Federal Reserve, particularly those in the Gulf where currencies are pegged to the dollar
While sukuk issuance is likely to be subdued this year, the market is likely to grow in the long run
Intel to build two chip factories
The company will invest $20 bn, hire 3,000 new workers for the sites in Ohio.Construction of the plants is scheduled to begin at the end of the year. Chip production could start as early as 2025.
Recent problems in global supply chains have highlighted the fundamental importance of semiconductors, which are used in a growing number of products including cars, TVs.
Emirates partners with the Bahamas to boost tourism
Emirates has signed a partnership agreement with the Bahamas to explore joint initiatives to bring more tourism to the island...The Bahamas is one of the most sought-after tourism destinations in the Caribbean offering a rich mix of leisure and cultural activities for visitors
the airline is also making available to customers and its travel retail partners across its markets, a range of travel packages including hotels and flights to The Bahamas
‘World first’ hydrogen shipment set to leave Australia for Japan
A state-of-the-art liquid hydrogen tanker readied for loading in Australia Friday ahead of shipment to Japan, in what Canberra described...The Suiso Frontier is docked near Melbourne and is being loaded with super-cooled hydrogen, a source of fuel that supporters hope could one day rival LNG.
Hydrogen produces only steam and no carbon dioxide when burnt, making it an attractive possible alternative to dirtier fossil fuels.
Investors’ forum discusses privatization scene in Saudi Arabia
Several investment companies and investors interested in privatization projects attended an investor forum organized by Saudi Arabia’s National Center for...The forum was organized by the National Center for Privatization in cooperation with Riyadh Bank.
A series of opportunities are expected to be presented in the coming years, the Center said.
Saudi launches Boutique Group to convert palaces into ultra-luxury hotels
Boutique Group, a new hospitality brand that will manage and convert a collection of iconic historic and cultural palaces in...The first phase of the project will focus on the development of three historic palaces in cooperation with the private sector.
Al Hamra Palace will offer 77 keys including 33 luxury palace suites and 44 luxury villas in Jeddah.
Sharjah Islamic Bank’s net profit up 27%
The bank also reported AED850.7 million in operating profits, an increase by 21.9 percent, compared to AED697.7 million in the...The bank also reported AED850.7 million in operating profits, an increase by 21.9 percent, compared to AED697.7 million in the previous year
The statement of financial position of the bank showed an increase in total assets by 2.5 percent to reach AED 55.0 billion as of 31 December 2021
