QEWC 2023 net profit US$426m
QEWC market share in supply of electricity was 61 percent.Company News Business Energy
UAE signs deals worth $263m on Day 2 of UMEX & SimTEX 2022
UAE’s Ministry of Defense said on Tuesday that it signed three new deals worth AED966.25 million ($263 million) on the...The fifth edition features 15 live shows in the Tilal Swaihan area, showcasing grounded and aerial unmanned systems and AI and robotics technologies.
The total number of deals during the first two days of this year’s edition was six, with an overall value of AED1.620 billion.
Aramco is targeting investment in China : CEO Amin Nasser
Saudi Aramco is interested in investing in China, its President and CEO Amin H Nasser, said. He asserted that Aramco...Aramco is holding initial talks with partners, including the state-owned defense contractor Norinco.
The talks were reportedly about the development of a $10 billion refining and petrochemicals complex in China.
Mubadala invests in PDG
Singapore-based Princeton Digital Group (PDG) has closed an equity investment from Mubadala Investment Company (Mubadala) as a lead investor for...PDG is a leading Pan-Asia data center operator with a footprint across key Asian digital economies
PDG has a portfolio of 20 data centers with over 600MW of secured capacity and spanning five countries
Dubai Expo 2020 likely to record 15m footfall soon
Music highlights included Filipina singing sensation Moira Dela Torre, who enthralled the audience at the Jubilee Stage last Monday.As of 21st February, total visitation stood at 14,719,277, days after Coldplay’s unforgettable concert on 15th February
The international visitation is up 19 percent, primarily thanks to the popularity of the new AED50 Season Finale Pass
UAE trades $22.8 bn worth of rough diamonds in 2021, hits top spot globally
UAE reached the top spot globally as a rough diamond hub, trading over $22.8 billion worth of rough diamonds in...Dubai boasts direct flights to other diamond hubs across the world, including mining countries in Africa and manufacturing centers in India.
Since 2015, the UAE has increased its rough diamonds trade by 76 percent, overtaking Belgium as the world’s leading rough trade hub
Dubai International Airport world’s busiest for eighth consecutive year
Dubai International Airport (DXB) continues to be the world’s busiest airport by international passenger numbers for the eighth consecutive year...Current forecasts indicate that traffic through DXB could reach 55.1m by the end of 2022.
India retained its position as the top destination country for DXB by passenger volume, with passenger traffic for 2021 totaling 4.2m.
Demand for natural gas has gone up 23% since 2011: GECF
Demand for natural gas has shot up 23 percent during the last ten years, according to Secretary-General of the Gas...Speaking at the opening session of the 6th GECF Summit, Hamel stressed the importance of natural gas as a type of clean energy in promoting sustainable development
He also underlined that the convening of the sixth summit in Doha is an indication of the importance that different countries attach to this forum
Saudi stc posts $3bn profit in 2021 on the back of high sales
stc, Saudi Arabia's top telecom firm, has posted a three percent increase in net profit to $3 billion in 2021...Revenues during the year stood at SR63.4 billion, up from SR58.9 billion in 2020
Separately, stc said it will distribute dividends of SR1.99 billion, or SR1 per share, for the fourth quarter of 2021
Fitch says outlook on Moroccan banks’ operating environment stable
Fitch Ratings has upgraded to AA(mar)/Stable the rating of Morocco’s Attijariwafa Bank (AWB), one of the five Moroccan banks whose...Fitch upgraded to AA(mar)/Stable the rating of Morocco’s Attijariwafa Bank (AWB).
Five banks, which account for nearly 77 percent of Morocco's banking system assets were reviewed by the ratings agency.
HSBC 2021 profits double
The London-headquartered bank on Tuesday reported pre-tax profit of $18.9 billion in 2021, up $10.1 billion on the year before,...The London-headquartered bank on Tuesday reported pre-tax profit of $18.9 billion in 2021, up $10.1 billion on the year before, helped by lower bad loans and operating expenses
The lender endured a tumultuous 2020 like the rest of the banking sector as the virus outbreak rocked the economy
