QatarEnergy, Shell sign agreement
QatarEnergy will supply 18m barrels of crude oil per year to Shell.Company News Business
UAE’s budget carrier Air Arabia to launch daily flights to Kabul
Last month flydubai, another low-cost Emirati airline, became the first international carrier to resume flights to Afghanistan since the chaotic...Business Geostrategy
SABIC stock leaps up to 7-year high, trades at SR134.60
For the first time in nearly seven years, the stock of Saudi Basic Industries Corporation (SABIC) has touched its highest...The stock is currently trading up just under 1 percent, with trading exceeding 500,000 shares so far
Today’s rise has pushed the stock up a staggering 120 percent since March 2020
Work on $6.5 billion green hydrogen project in NEOM to begin in H1 2022
The work on a $6.5 billion green hydrogen plant in Saudi Arabia's planned futuristic city NEOM is likely to begin...ACWA Power expects to finalize financing in Q1 2022. The project is a joint venture with NEOM Co. and American industrial gas company Air Products.
The plant will need around 4.3 GW of clean energy to power it and ACWA plans to use solar in the day and wind in the night.
SIB profit up 30 percent in nine months
The bank said it continued hedging policy despite corona recovery.Operating profits increased by 29.3 percent to reach AED 652.9 million.
The bank's board has approved a proposal to allow foreign investors to trade in 40 percent of the bank’s shares.
Oman takes centre stage as T20 World Cup gets underway
Originally scheduled to take place in Australia and then India, before being chased out of both by Covid-19, the seventh...Oman are playing in their second T20 World Cup having shocked Ireland at the 2016 tournament
The eight teams in the first round of qualifying are chasing four places in the Super 12 round-robin stage
SODIC lands $100m loan
This will finance SODIC’s West Cairo flagship project.The Arab African International Bank and Banque Misr is providing this facility to SODIC
SODIC is expected to use this facility to finance its West Cairo flagship development known as SODIC West
Slovakia debuts its first Hydrogen car at Expo 2020
The car has an aerodynamic design and is a sports model, and does not produce dangerous emissions.The vehicle, called the MH2 Hydrogen car, has been designed by Branislav Mauks
He is a Slovakian designer who since 2007 has contributed in designing each of Ferrari’s models
PIF of Saudi Arabia to launch tourism on ‘THE RIG’
Public Investment Fund of Saudi Arabia has announced the launch of ‘THE RIG,’ a new tourism project on oil offshore...“THE RIG” will span a combined total area of more than 150,000 square meters
It will provide a multitude of hospitality offerings, adventures, and aquatic sporting experiences
US sees boom in cyber-extortion in 2021
New data out Friday showed $590 million in ransomware-related payments were reported to US authorities in the first half of...Washington has sought to crack down on a sharp rise in attacks, including issuing its first sanctions against an online exchange
The heists involve breaking into a company or institution’s network to encrypt its data, then demanding a ransom,
Iran ex-central bank chief gets 10-year jail term
An Iranian court has sentenced the former governor of Iran’s central bank to 10 years in prison for violating the...Zabihollah Khodaeian, judiciary spokesman, told state TV that besides violating the currency system, Valliollah Seif also had a role in smuggling foreign currency
State TV said they were involved in violations of the currency market in 2016
Bahrain central bank issues e-cheques
The e-cheques will retain all the basic functions, legal validity, and benefits of paper cheques while providing a paperless payment...The e-cheques will come into effect on October 19, and will be available through two apps
They are expected to complement traditional paper cheques, which are a popular payment instrument in Bahrain
