Oman year-on-year growth rate touches 15.4 percent
Muscat, Oman - Oman's achieved a 15.4% year-on-year sector growth, as reported by the National Center for Statistics and Information...Business Economy
Samsung Q3 profit to soar 30%
The company expects its operating profits at 15.8 trillionThe world's biggest smartphone maker said it expected its operating profits to reach around 15.8 trillion won ($13.3 billion) in a regulatory filing, up 27.9 percent year-on-year
The conglomerate's overall turnover is equivalent to a fifth of the country's gross domestic product
Saudi Arabia-led consortium takes over Newcastle United
"Following the completion of the Premier League's Owners' and Directors' Test, the club has been sold to the consortium with...Earlier on April 9, 2020, the investment group, which also includes PCP Capital Partners and Reuben Brothers, made a bid for the north-east club
This deal collapsed in July 2020 due to the Premier League's concerns over alleged Saudi broadcast piracy
Utico lands Hassyan project deal
The MoU was signed at the WETEX and Dubai Solar Show.Utico and Siemens have signed an MoU for the engineering, supply, and services for an independent water project in Hassyan
By capacity, this will be Siemens’ largest desalination plant project to date in Dubai
Kuwait to tap parks, open spaces for investment
The Kuwaiti cabinet has instructed the Public Authority for Agricultural Affairs and Fish Resources to plan for this.The Kuwaiti cabinet has also ordered the parks authority to allocate plots for organizing entertainment activities and events
These will happen in the agricultural areas of Al-Wafra in the south and Al-Abdali in the north
Sheikh Maktoum says UAE enjoys high financial solvency, credit profile
The UAE continues to enjoy high financial solvency as well as a strong credit profile, minister of finance Sheikh Maktoum...Al Maktoum's statement comes as the Ministry of Finance confirms the issuance of a multi-trance bond offering.
The new bond package, comprising of tranches of 10, 20 and 40 years, will be issued for a subscription.
DAFZA share of Dubai’s non-oil trade is 11% in H1 2021
In terms of re-exports, DAFZA grew 24 percent to total AED40.8 billion, representing 20.5 percent of Dubai's total non-oil foreign...In terms of re-exports, DAFZA grew 24 percent to total AED40.8 billion, representing 20.5 percent of Dubai's total non-oil foreign trade
As for commercial partners, China came in first at 30 percent with a trade value of AED23 billion
Abu Dhabi discusses investment cooperation with Egypt
The Abu Dhabi Development Fund received a delegation from the Central Bank of Egypt.Since it commenced its activities in Egypt in 1974, ADFD has funded more than 75 strategic projects in the country
Spanning several sectors, they have with a total value of approximately AED3.3 billion (around $900 million)
Investcorp expands US holdings
Mubadala is biggest shareholder of asset manager Investcorp.Bahrain-based Investcorp has acquired 89 industrial properties across four major US markets
The real estate acquired is approximately 2.2 million square feet, for a total of $380 million
Masdar to build five solar plants with a capacity of 1 GW in Iraq
Abu Dhabi-based renewable energy company Masdar on Thursday announced it will develop five solar photovoltaic (PV) projects in Iraq with...The solar photovoltaic projects will be developed in Dhi Qar, Ramadi, Mosul and Amarah areas.
Iraq, the second-largest OPEC oil producer, is aiming at 20 to 25 percent of renewables in power production.
GCC fertilizer use up in pursuit of food goals
The region is also fast adopting modern agricultural practices such as vertical farming, hydroponics, greenhouse vegetable production to grow more...Urea demand is projected to grow close to two percent per year from 2018 to 2025.
Governments are turning to the private sector to help finance desalination projects to meet water needs.
