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Aramco signs $11bn deal

The deal involves its Jafurah gas facilities.

TAQA H1 net income $1bn

The group's revenue reached $7.73 billion.

ADNOC L&S H1 net profit $420m

The company’s revenue reached $2.43bn

SEC H1 net profit $1.67bn

Revenue grew by 24% to $7.38 billion.

DEWA profit after tax $789m

It will pay $843m in H1 dividend.

  • Twitter admits policy ‘errors’

    Extremists are abusing its new photo-sharing rule.

    Twitter has noted that its teams have made errors in enforcing its new policy that disallows posting images of people without their consent

    It said it has corrected those, errors and is undergoing an internal review to make certain that this policy is used as intended

  • WTO deal saves businesses $150bn a year

    The deal with members including the US, EU, and Saudi Arabia agreeing to new ways to help businesses.

    The agreement is said to have called for members countries and groupings to create domestic regulation for services

    Such regulations would ‘improve the business climate, lower trade costs, and cut red tape so as to facilitate services trade worldwide’

  • Samsung bags Aramco project

    Samsung Engineering has bagged a $1.23 billion contract from Aramco to develop Jafurah Gas Process Package 1, a major project...

    It is part of the Jafurah shale gas field development located 400 km east of capital Riyadh and is expected to be completed in 2025

    The goal of the project is to produce shale gas, natural gas liquids (NGL), ethane, sulphur and stabilized condensate

  • DEWA inaugurates visitors center at Al Maktoum solar park

    Saeed Mohammed Al Tayer, MD&CEO of Dubai Electricity and Water Authority (DEWA), has inaugurated the ‘Noor Energy 1 Visitors Centre’...

    The Noor Energy 1 Visitors Centre features an exhibition that chronicles the history of energy as well as future energy technologies.

    When fully operational, Noor Energy 1 will be the largest single-site concentrated solar power plant in the world.

  • Shell exits North Sea oilfield project

    Royal Dutch Shell has exited the planned Cambo oilfield project off the Scottish coast because of insufficient financial gain, as...

    Shell, which has a 30-percent interest in the North Sea development, said late Thursday that the investment case was simply "not strong enough"

    The decision comes after major powers last month agreed at the COP26 climate summit in Scotland to curb the use of fossil fuels

  • Louvre Abu Dhabi license extended until 2047

    The Louvre Abu Dhabi's license has been extended by 10 years to 2047, the French presidency said Friday during a...

    The French president and Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed agreed to the "extension for 10 years of the partnership over the Louvre Abu Dhabi

    The move will see Abu Dhabi pay 165 million euros ($186 million) between 2022 and 2023 for the extra decade

  • UAE to buy 80 French Rafale fighter jets

    The Rafale order is the biggest made internationally for the aircraft since it entered into service in 2004.

    The UAE has also agreed to buy 12 Caracal military transport helicopters

    The Middle-Eastern country is one of the French defense industry's biggest customers

  • Tech-enabled sustainability can help hospitality

    SB Group founder and CEO Sanjeevv Bhatia says the hotel industry can no longer ignore net-zero goals.

    Hospitality buildings account for about 40 percent of worldwide energy consumption and GHG emissions

    Old buildings are riddled with vendor-locked and legacy systems that are inflexible and thus difficult to optimize

  • IMF says chief economist taking top leadership role

    Gopinath will succeed Geoffrey Okamoto as first deputy managing director, serving under IMF chief Kristalina Georgieva.

    Gopinath will succeed Geoffrey Okamoto as first deputy managing director, serving under IMF chief Kristalina Georgieva

    Gopinath, who was appointed to her current role in October 2018, was due to return to her position at Harvard University in January but will now leave the university

  • London based firm seeks investment opportunities in Jordan

    "Jordan represents a unique and strategic opportunity for global investors. We are looking forward to strengthening our ties further in...

    This is a major move for RiverBay Capital on its mission to provide Europe with institutional access to markets in the Middle East

    RiverBay Capital has successfully established itself as a bridge between real estate markets in Europe and the Middle East