Shell halts Red Sea shipments over attack fears, say report
WASHINGTON, US - British oil giant Shell has paused transit through the key Red Sea shipping route indefinitely, over fears of...Business Energy Geostrategy Global
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.
GreenDome of UAE buys out Elite Co. for an unknown sum
GreenDome Investments has bought out Elite Co. from Prama Holdings, in a deal representing one of the region’s largest acquisitions...Elite Co., a leading fully integrated land freight and courier solutions providers in the Middle East, has state-of-the-art operations and assets across Oman, Bahrain, Qatar
GreenDome Investments aims to build an integrated end-to-end logistics services powerhouse to tap into the Middle East
Sophia Lauren names cruise ship MSC Virtuosa at Dubai’s Mina Rashid
Dubai hosted the naming ceremony of a cruise ship, MSC Virtuosa, which was officially named by Hollywood star Sophia Lauren...MSC Cruises, the world's third-largest cruise operator, had chosen Dubai for the naming ceremony.
The ceremony was held at Port Rashid in partnership with DP World and Dubai’s Department of Economy and Tourism.
Iraq stresses balance in energy market ahead of Dec OPEC meeting
Iraq's oil Minister Ihsan Abdul-Jabbar has said that Iraq has worked on a vision that emphasizes the importance of finding...Iraq's National Oil Marketing Company says it does not see necessity of any decision on increasing oil production.
OPEC + has decided to maintain the monthly increase rate of 400,000 barrels in December.
Kuwait to adopt rules allowing players to dedicate more time to games
Director-General of the Kuwaiti Public Authority for Sport Humoud Flaiteh has said that new sports rules will be adopted soon,...Distinguished individual athletes representing Kuwaiti national sports teams are also entitled to the same status in line with the imminent regulations.
The rules are just a step towards the application of professional athleticism in the country, a minister said.
Omicron batters indices across MENA
Stock markets across the MENA region suffered losses on Sunday as dip in oil prices and mounting concern over ‘Omicron’...The Saudi stock market's main index falls by more than 5% to 10,700 points
The Abu Dhabi Stock Exchange index (ADX) drops by 2.6% to 8230 points
