Bitcoin surpasses $47,000, first time since March 30, 2022
Abu Dhabi, UAE - Bitcoin surged above $47,000 on January 9, marking its highest value since March 30, 2022, as...Business Economy
Energy companies to test CO2 capture in Brazil undersea oil field
PARIS, FRANCE - A consortium of Brazilian, British, French and Chinese energy firms will test new technology aimed at capturing CO2...Business Energy Global Climate Change
ACWA Power of KSA to build solar power plant in Iraq
Iraq is looking to establish a big solar power plant in the Najaf area that could generate 1,000 megawatts of...In this regard it is in advanced discussions with Saudi Arabia’s ACWA Power, the oil ministry announced on its Facebook page
The ministry said it is close to signing the agreement with the Saudi utility company to generate 1,000 megawatts of solar power in the Najaf Governorate
Volvo Cars sets IPO price
The price is at the bottom end of the range that Volvo announced last weekThe price is at the bottom end of the range that Volvo announced last week
The carmaker also lowered the amount it plans to raise by going public from $2.9 billion to $2.3 billion
Saudi telecom firm Zain reports 36% dip in net profit
Zain KSA, the Saudi telecom firm, has reported a 36 percent drop in net profit to SR143 million in the...The significant dip is due to a 1 percent drop in revenue, as well as rising revenue costs by 19 percent
Lowering operating expenses and the results of the capital restructuring last year helped compensate for the fall
Alsulaiman Group and Livspace announce a Joint Venture
Both ASG and Livspace have invested about $50 million to fuel regional growth and become market leaders.Both ASG and Livspace have invested about $50 million to fuel regional growth and become market leaders
The JV further plans on strengthening the team by investing in talent across levels while also aiming to reach 500 design partners in the region by 2022
Bahraini Farmers Market returns with Covid-19 precautions
The market, which reportedly aims to promote Bahrain’s agricultural products and highlight the development taking place in the country’s agricultural...This edition of the market will be limited to shops selling local agricultural produce
It will also feature a number of restaurants without the accompanying recreational activities
2,700-year-old wine press found in Iraq
The carvings - 12 panels measuring five metres (16 feet) wide and two metres tall - date from the reigns...The carvings -- 12 panels measuring five metres (16 feet) wide and two metres tall -- date from the reigns of Sargon II (721-705 BC) and his son Sennacherib
Iraq was the cradle of some world's earliest cities. It was once home to Sumerians, Assyrians and Babylonians
India’s SGL opens plant in HFZA
The plant involves an initial investment of AED 50mn.Automotive, industrial and construction lubricants and special greases for electric vehicles will be produced at the plant.
Named Trinity Lubes & Greases FZC, the facility has a production capacity of 48,000 liters annually in the initial stage.
QLM’s net profit in Q3 $20.4 million
Gross written premium as of Sept. 30 was QAR 750 million.The gap in gross written premium continues to narrow down as compared to previous quarters, the company said.
The net investment income by September was QAR 29.2 million, compared with QAR 30.3 million for the same period in 2020.
560 foreign firms operate in Al Wusta governorate of Oman: Official
As many as 560 foreign companies are operating in the Omani governorate of Al Wusta and their capital investments by...By the end of Sept. 2021, the capital investment of these firms reached $3.37 billion.
The number of industrial licenses registered in Al Wusta during the first nine months of 2021 was 177.
China aims to cut fossil energy use to below 20% by 2060
China is targeting an ambitious clean energy goal of reducing fossil fuel use to under 20 percent by 2060, according...The document follows a pledge by President Xi Jinping to wean the world's biggest polluter off coal
But the country has been criticized for pushing ahead with opening dozens of new coal power plants
