dnata expands to Africa
It has set up operations in Zanzibar with $7m investment.dnata has signed an agreement for the operations of the newly international terminal of the Zanzibar Abeid Amani Karume International Airport
It has said it will also create 400 new jobs at the airport
AD Ports Group and Turkiye Varlik Fonu sign partnership agreement
AD Ports Group and Turkey’s Turkiye Varlik Fonu signed a strategic partnership agreement to collaborate on major investment opportunities for...The partners will collaborate on major investment opportunities for port development and operations.
The two organizations will also collaborate in establishing a joint steering committee to assess all investment opportunities.
ADNEC to acquire Etihad Holidays
The move is aimed at expanding its footprint in tourism.Tourism 365, the ADNEC tourism promotion business, will integrate with Etihad Holidays under the terms of the asset transfer.
Etihad Holidays' offering will combine Etihad Airways’ product with packages in different source markets to key destinations.
Iraqi crude oil export revenues $7 billion in October, says oil ministry
Iraq's crude oil export revenues reached $7 billion in October, according to the Iraqi Oil Marketing Company (Somo). Local media...Iraqi oil ministry's said more than 96 million barrels of crude oil were exported in October.
Most of the oil--93 million barrels--was exported from the oil fields in central and southern.
Dubai October realty sales $3.57 billion, highest in eight years
Expo 2020 Dubai, the largest global event and the first-of-its-kind in the Middle East, boosted the Dubai real estate market...Real estate sales transactions for the 10 months of 2021 worth AED177.44 billion.
The most sought after areas for villas/townhouses are Damac Hills 2, Nad Al Sheba, The Springs, Dubai Hills Estate and Arabian Ranches.
UAE industries are embracing solar power
Al Bayader International, for example, has set up solar farms to offset energy costs and build sustainability, says Founder and...Companies want to decrease their carbon footprint and lower their electricity expenses
As a result, they are increasingly installing rooftop solar farms to save on energy bills
Saudi Film Commission to announce strategy on Sunday
The move is believed to be part of the Saudi Vision 2030 strategy, through which the country looks to diversify...The Saudi Film Commission will on Sunday announce its strategy to develop the film sector in the country
It is also expected to support employees and actors in a country where public screening of films was banned for nearly 35 years
EDB lends $190m to SMEs
The loans were given to industrial companies in five priority sectors.The Emirates Development Bank has disbursed AED700 million ($190 million) in loans to the UAE’s industrial sector since the beginning of 2021
The money came from the financing package given by the country’s Ministry of Industry and Advanced Technology
Egypt’s export of LNG touches 1m tons in Q3
Egypt has edged out its Arab neighbors in natural gas exports and exported one million tons of liquefied natural gas...The oil and gas sector contributed 24 percent to the country’s gross domestic product in 2019-2020 despite the pandemic
A surplus, equivalent to about EGP9.5 billion ($604 million), in the petroleum balance of payments was reached during 2020-2021
Schneider Electric says electricity use in Iraq rising annually by 10 percent
Consumption of electrical energy is increasing by 10 percent annually in Iraq, which necessitates a robust distribution network, said the...The increase in energy requires a robust distribution network and large stations.
The company said it works in gas and oil in Basra, and there are projects to expand oil discovery.
TSMC first-quarter net profit soars
Its net revenue for the quarter soared nearly 42%.
Tesla’s first Saudi showroom opens
The opening in Riyadh comes with Tesla sales dropping.
Mubadala Energy enters US energy market
Acquires a 24.1% interest in US firm Kimmeridge’s SoTex
Borouge to increase dividend from 2025
The company okayed $650 million final dividend for 2024.
TikTok’s US future uncertain
It must find non-Chinese owner to avoid ban.
