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ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

Etihad Q1 profit $187 million

This is a 30% YoY increase over Q1 2025.

Yalla Group Q1 revenue $83m

Net income rose to $36.4 million, a 17% YoY increase.

Qatar Airways annual profit $2bn

This was a record 28% jump in annual net profit.

Masdar issues $1bn bond

Its green bond program hits $2.75 billion.

Siemens bags Egypt project

Despite results, Siemens Energy CEO Christian Bruch expressed optimism about the future. (AFP)
  • Implementing advanced software solutions and automation devices will help Alexandria Electricity Distribution Company increase efficiency.
  • A total of 300,000 smart meters will be supplied, including the necessary hardware and software to establish an advanced metering infrastructure.

A Japanese International Cooperation Agency-funded, $50-million project will see Siemens upgrade the power distribution management system and establish an advanced metering infrastructure for Alexandria Electricity Distribution Company (AEDC) in Egypt.

As subsidiary of the state-owned utility Egyptian Electricity Holding Company (EEHC), AEDC is responsible for the distribution network of Alexandria Governorate, the second most populated governorate in Egypt, media reports said.

Implementing advanced software solutions and automation devices will help AEDC to increase efficiency and reliability of the electricity supply, while reducing electricity distribution losses.

During the upcoming 30 months, Siemens will be implementing an ADMS control centre for the West Alexandria region and a control centre to supervise all distribution control centers in Alexandria, the reports said.

A total of 300,000 smart meters will be supplied, including the necessary hardware and software to establish an advanced metering infrastructure.

Siemens will also be delivering ESRI’s Geographical Information System (GIS) within the scope of the project.