Saudi Arabia transfers 8% Aramco stake to PIF-owned firms
Saudi Arabia said it transferred an additional eight percent stake from oil giant Aramco to firms owned by the kingdom's...
Business
Trailblazing women transform finance in Arab world
Extraordinary Arab women are breaking barriers and setting new precedents in the traditionally male-dominated sectors of banking, finance, and investments.
Business
Analysis
Saudi Arabia, UAE ripe for hydrogen investments
Green hydrogen has the potential to rapidly replace fossil fuels on a large scale, says Cranmore Managing Partner Yusuf Macun.
- Green hydrogen has a lot of potential particularly in heavy transport and heavy industries
- Green hydrogen has the ability to rapidly replace fossil fuels while simultaneously enhancing electrification
Business
ENOC plans Dubai compact stations
The first compact station opened at Dragon Mart 2 this month.
- After Dragon Mart and International City, the ENOC Group plans to open five more compact stations in Dubai
- The remaining seven expected to be launched across additional locations by 2023
Business
Governments helped arms firms avoid Covid-19 slump
Governments around the world passed measures to help their big weapons firms, according to the Stockholm International Peace Research Institute...
- Top 100 arms producers recorded rise in profits by 1.3 percent on 2019 to $531 billion
- Of the top countries in the weapon industry, only France and Russia saw a fall in their firms' sales last year
Business
Oxford Business Group, QDB report maps Qatar’s start-up and SME ecosystem
A new report produced by Oxford Business Group (OBG) in partnership with Qatar Development Bank maps out the country’s efforts to...
- The Business Journey Report combines analysis, key data and infographics relating to the socio-economic landscape.
- The key focus for Qatar's vision 2030 is the country’s ongoing economic diversification and private sector development agenda.
Business
OFID’s $80m loan expected to boost trade in Africa
The OPEC Fund for International Development (OFID) has signed an $80 million loan agreement with the African Export-Import Bank (Afreximbank)...
- The financial support will assist in boosting Afreximbank's liquidity to grow its loan portfolio as it finances exports and imports in critical sectors
- The OPEC Fund's loan will address trade challenges impacted by the COVID-19 pandemic
Business
Borouge awards EPC contracts
The $6.2 bn contracts are meant for expansion in Ruwais
- With this expansion, Borouge said it will become the world’s largest single-site polyolefin complex.
- Borouge 4 will boost the company’s annual polyolefin production to 6.4 million tons.
Business
Multiply Group starts trading on ADX
The IHC subsidiary starts trading under the ticker MULTIPLY.
- Multiply Group will become the eighth IHC subsidiary to list on the ADX in less than a year.
- The group has assets of AED8.16 billion ($2.2 billion) and 3,240 employees.
Business
Metaverse hype fuels digital-property boom
Metaverse has been a Silicon Valley buzzword for months, but interest soared in October after Facebook's parent company renamed itself...
- As far back as 2006, a real-estate developer made headlines after making $1 million from land sold on the virtual world site Second Life
- While Second Life remains active, proponents of its next-generation rivals are benefiting from VR technology and NFTs
Business
Jordanian exporters association seeks to bridge trade imbalance with Turkey
According to official data, Jordanian exports to Turkey in the first 8 months of the current year dropped by 10...
- According to official data, Jordanian exports to Turkey in the first 8 months of the current year dropped by 10 percent to JD29 million
- Turkish imports to the Kingdom in the same period surged by 25 percent to a total of JD303 million
Business
Cross-sector deals boost Saudi-French ties
The Gulf country has welcomed the increased cooperation of French companies, including in energy, water, and waste management, sustainable cities,...
- The Saudi Arabian Airlines Corporation has ordered CFM engines worth $8.5 billion for its Airbus fleet
- Saudi Aramco also signed deals with French companies to exercise its diversified energy portfolio
Saudi Arabia transfers 8% Aramco stake to PIF-owned firms
Saudi Arabia said it transferred an additional eight percent stake from oil giant Aramco to firms owned by the kingdom's...
Business
Company News
Latest News
AI risks repeating social media mistakes, says Microsoft president
NEW DELHI, INDIA - Breakneck development of artificial intelligence risked repeating mistakes made by the tech industry at the start of...
Science
Bing, LinkedIn vow more ads transparency
It comes as EU rules on tech platforms enter into force.
Business
US Federal Reserve prepared to raise interest rates further
The US Federal Reserve is prepared to raise interest rates higher - and hold them there - to bring down...
Economy
Most Read
Business
Country Garden withholds repayment vote
The builder has accumulated debts of more than $150bn.
- The company has asked to extend payment on a 3.9 billion yuan ($535 million) note until 2026, originally setting an online vote among bondholders to end on Friday.
- Country Garden's cash flow problems have ignited fears that it could collapse and spread turbulence through China's economy and financial system.
Business
Dubai records realty deals worth $6.28 bn during week ending 25 Aug
Dubai, UAE -- A total of 3,229 real estate transactions worth over AED 23.1 billion ($6.28 billion) were conducted during...
- The DLD report showed that 183 plots were sold for AED 1.33 billion, while 2,361 apartments and villas were purchased for AED 5.77 billion.
- The top three apartment and villa transfers included three in Palm Jumeirah sold for AED 65 million, AED 57 million, and AED 54 million.
Business
Borouge’s PP5 unit generates $209m sales in H1 2023
ABU DHABI, UAE - Borouge's Chief Operating Officer Dr. Hasan Karam has said the fifth polypropylene unit (PP5) played a...
- Demand for products made from polypropylene is set to rise in the coming decades thanks to its versatility and recyclability.
- Polypropylene market in Asia, Africa and the Middle East is valued at $10 billion and is predicted to grow by 5.5 percent annually.