Production capacity of Al Maktoum Solar Park’s fifth phase up by 30MW
The production capacity of the first project of the fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park...The increased production results from using the latest solar photovoltaic bifacial technologies.
The 900-megawatt fifth phase, with investments of AED 2.058 billion, is 60 percent complete.
Securrency Capital picks advisor
Ryan Lemand has joined the brokerage as a board advisor.Lemand holds a PhD in financial econometrics, and is the author of two books on financial contagion
Securrency Capital is a blockchain-enabled brokerage providing access to trading in traditional and digital assets
GCC markets remain mixed amidst Omicron woes
Despite an increase in Omicron cases across the world, investors remain confident in the Saudi stock market. The UAE markets,...The volume of traded shares on Tadawul reached 197 million through more than 340,000 deals
Stock markets in the UAE ended in the red on Friday, mirroring weakness in Asian peers
No suspension of flights, says Iraq’s civil aviation authority
"There is no suspension of flights in accordance with the instructions and directives", an official confirmed.The Supreme Committee for National Health and Safety issued several decisions, including instructing departing and arriving travelers
The Aviation Authority will notify the companies of presenting the international vaccination card for departures and arrivals with a (PCR) examination (72) hours before the flight
Residential areas in focus as real estate prices surge in Kuwait
The real estate housing price rose in Kuwait last year, where investors focused on Kuwaitis' residential areas dealing in uninhabited...Some residential districts, mainly inhabited by citizens, witnessed more than 35 percent rise in rates of the plots, leading to record growth of property assets
The investors sold 375-square-meter houses in Kuwaiti's residential districts such as Al-Khaldiya and Al-Yarmouk in May at a profit of $300,000 in May
Iran, Syria to establish joint free zone, joint bank
Qasemi, who headed a high-ranking delegation to Syria, met with senior officials from Syria.The decisions for the establishment of the mentioned entities were made during a three-day visit of the Iranian minister to Syria
Iranian Transport and Urban Development Minister Rostam Qasemi announced a joint committee is set to be formed between Iran and Syria
S&P affirms Kuwait credit rating at A+ with negative outlook
"The government has almost exhausted the General Reserve Fund's liquidity", said the rating agency.It argued that despite higher oil prices and production levels, Kuwait's central government deficits are set to average 12 percent of GDP
It, however, noted that it could revise the outlook to stable if the government successfully addresses Kuwait's existing fiscal funding constraints
DEWA honors suppliers for ‘commitment to highest standards’
In a virtual ceremony, Dubai Electricity and Water Authority (DEWA) has recognized 41 of its suppliers for their commitment to...The suppliers were honored in the Strategic, Principal, and Main supplier categories
The suppliers said that DEWA provides many opportunities to them according to the highest standards of integrity and transparency
Google and Facebook chiefs made ‘illegal’ deal: US court documents
Top bosses of Google and Facebook were directly involved in approving an allegedly illegal 2018 deal to cement their dominance...The records, part of an anti-trust lawsuit by a coalition of US states targeting Google, make serious allegations against Big Tech giants long accused of holding monopolies
It was the third time the suit was amended, and did not list Facebook or its parent company Meta as defendants
Saudi Customs impound 8.3m amphetamine pills
The Saudi Zakat, Tax and Customs Authority has made a large seizure of Captagon amphetamine pills at Jeddah Islamic Port,...The authority explained that the first consignment, which contained onions, was subject to customs procedures and examination through security techniques and police dogs
Three people were arrested by the General Directorate of Narcotics Control
IHC H1 net profit $2.94 billion
The company posted 31% increase in revenue.
ADNOC Gas signs LNG deal
Will supply 0.5mmtpa of LNG to India's HPCL.
Alpha Dhabi H1 profit $1.79bn
Adjusted EBITDA rises to $2.36bn.
Borouge Q2 net profit $193m
The H1 revenue stood at $2.72 billion.
ADNOC Drilling H1 revenue $2.37bn
The company posted a net profit of $692m.
