Several MoUs signed at Future Minerals Forum in Saudi Arabia
RIYADH, SAUDI ARABIA – The third edition of the Future Minerals Forum (FMF), organized by the Kingdom’s Ministry of Industry...Business Economy
PIF’s diverse investments transform Saudi economy
From sports and gaming to pharmaceuticals and aviation, the Saudi Public Investment Fund's strategic initiatives are shaping a dynamic future...Business
QFZA, Alfardan Automotive partner to build logistical hub
Alfardan Automotive's regional center will be located in the mobility industries cluster in Umm Al Houl Free Zone, located near...The hub will cover an area of more than 67,000 square meters and will utilize the latest logistics systems and processes to import vehicles
QFZA has created specialized clusters within the zones for specific sectors, including maritime, logistics and emerging technology
AD Ports Group inks deal to boost Bahrain cruise sector
Abu Dhabi-based AD Ports Group has inked an initial agreement with Bahrain-based real-estate firms Diyar Al Muharraq and the Eagle...Bahrain is tipped to become the fourth high-performing cruise destination in the Arabian Gulf
It witnessed an increase in annual arrivals in recent years, observing a record high of 130,778 passengers in 2019
Weibo plans $547m HK listing
Hong Kong listing is seen as a hedge against removal from US exchangesListing in Hong Kong is seen as a hedge against the risk of being removed from US exchanges
China also has been encouraging its big tech players to list either in Hong Kong or Shanghai
Pandemic to cost global tourism $2trn
International tourist arrivals will this year remain 70-75 percent below the 1.5 billion arrivals recorded in 2019, before the pandemic...In addition to virus-related travel restrictions, the tourism sector is also grappling with the economic strain caused by the pandemic
The spike in oils prices and the disruption of supply chains are also complicating matters
AED100m endowment funds ‘Khalifa University Enterprises Company’
The KUEC will aim to encourage technology investors and entrepreneurs to partner with the University to commercialize its growing patent...The KUEC will include ‘Innovation Acceleration and Startups’ and ‘KU Ventures’, which will support establishing and operating non-IP technology companies
KUEC also includes the Endowment Fund that will allocate funding for investments and operations
Nissan eyes 2030 EV push
It wants half its sales to be electric or hybrid vehicles by 2030.The move follows in the footsteps of other major global automakers, which have increasingly signalled a move towards electric and hybrid vehicles
Unveiling its new long-term plan, Nissan said it will launch 23 new models, including 15 new electric vehicles, in a bid to reach the 2030 goal
Morocco offers opportunities for Indian companies to settle and expand: Official
Morocco can attract big Indian investment due to its talented human resources and an impressive investment climate, said Ashwath Narayan,...Morocco has launched a roadshow in India to promote the initiative "Morocco Now".
High technology, biotechnology, engineering and automotive sectors should be focus of investments, said the minister.
Iran banks hail arbitration panel win over Bahrain
Two leading Iranian banks have welcomed a decision by a Hague-based tribunal to order Bahrain to pay them more than...Iran's state-owned Bank Melli and Bank Saderat sought arbitration in the case in 2017
Hague based tribunal found that that Bahrain's motives had been primarily political
Abu Dhabi to host new Amazon fulfillment center from 2024
Abu Dhabi will host a new Amazon fulfillment center, expected to be the most technologically advanced in the region. It...E-commerce giant says the centre will speed up delivery times and support a range of sellers
The new centre is part of collaboration between Amazon and Abu Dhabi Investment Office’s program to attract investment and create job opportunities
EGA to decarbonize its GE gas turbines for achieving UAE’s net-zero goal
Emirates Global Aluminium (EGA) and GE Gas Power have signed an agreement to reduce greenhouse gas emissions from EGA’s existing...EGA and GE Gas Power have signed an agreement and together they will work out a roadmap for decarbonization efforts.
EGA has 33 GE natural gas turbines at Jebel Ali and Al Taweelah, with a total power generation capacity of 5,200 megawatts.
