Saudi tech show LEAP 2024 to close on ‘record-breaking’ note
Riyadh, Saudi Arabia--The biggest tech show in the Middle East, LEAP 2024, hosted by Saudi Arabia in Riyadh, is preparing...
Business
Business
SIDF inks deal with Engie
The agreement is expected to yield low-carbon energy services.
- The move will let SIDF employees join Engie’s knowledge-exchange 2022 training program, which will be held in Saudi Arabia
- It will also give SIDF employees the opportunity to work with experts at Engie for six months at the company's headquarters in Paris
Business
Libya sends first passenger ferry to Turkey in decades
Travel links with and within Libya were severely disrupted by the 2011 revolt that overthrew dictator Moamer Gadhafi.
- The ferry left the Libyan port of Misrata and was headed to Turkey's coastal city of Izmir
- Libya has not been serviced by any international ferries for 25 years
Business
Armani adopts fur-free policy
The company said it would no longer use angora wool.
- The company said it would no longer use the material across all of its lines from next year's fall-winter collection
- A growing number of fashion companies are adopting policies against using materials that require cruelty towards animals
Business
OPEC and allies may freeze oil output
The OPEC+ alliance led by Saudi Arabia and Russia has so far resisted US-led pressure to significantly boost output to...
- The emergence of the new Omicron variant of Covid-19 has put a shadow on whether OPEC+ will increase or decrease production
- The variant has led countries to reinstate travel bans and mull further restrictions that could tighten demand and hurt oil prices
Business
UAE’s first drone delivery service provider breaks two Guinness records
UAE's first licensed drone delivery service provider, BARQ EV, has broken two Guinness World Records-- the longest (13.58km) flight of...
- BARQ EV broke the record for the longest (13.58km) flight of a drone for the delivery service.
- It also broke the longest (18.065km) non-stop return flight for a drone record.
Business
ADNOC to invest $127bn in 2022-2026
The company announces a significant rise in oil and gas reserves.
- ADNOC plans to bring $43 billion back into UAE economy through ICV program.
- ADNOC's ICV program has driven AED105 billion back into the UAE economy and created over 3,000 jobs for UAE nationals.
Business
Man Utd’s Glazer buys T20 franchise in new UAE league
Manchester United co-chairman Avram Glazer has acquired a franchise for a new T20 professional cricket league in the United Arab...
- The news comes after the Glazer family were outbid in their attempt to buy one of the two new franchises in the Indian Premier League
- "I am very excited to be a part of UAE T20 at its formation," Avram Glazer said
Economy
‘Physical currency won’t disappear anytime soon’
Ralf Wintergerst, Group CEO of 170-year-old German firm Giesecke+Devrient (G+D), said physical currency is a resilient form of payment and...
- Ralf Wintergerst said digital currency is a central bank-issued digital form of physical money and that it was different from cryptocurrency.
- In Germany and the Middle East there are a lot of opportunities for moving things like government services to people directly with digital solutions.
Business
dnata named Ground Support Services Provider of the Year for eleventh time
For the 11th time, dnata has been named Ground Support Services Provider of the Year at the 2021 Aviation Business...
- The company offers ground handling and cargo services at over 90 airports in 15 countries.
- As part of infrastructure growth, dnata broke ground on the second phase of the dnata City East project at London Heathrow.
Business
GACA, Cisco sign MoU
The MoU will enhance the scope of digital transformation.
- The memorandum will enhance the scope of cooperation in technology and digital transformation in the civil aviation sector
- The GACA is keen to collaborate with international companies specializing in advanced technological fields to keep pace with the latest developments
Saudi tech show LEAP 2024 to close on ‘record-breaking’ note
Riyadh, Saudi Arabia--The biggest tech show in the Middle East, LEAP 2024, hosted by Saudi Arabia in Riyadh, is preparing...
Business
Company News
Huge investments help Saudi cinema soft power grow
Arts & Culture
PwC opens regional headquarters
Business
Latest News
ADNOC L&S Q1 net profit $144m
Business
Saudi industry ministry and German firms to develop human resources
Berlin, Germany -- A delegation of Saudi Ministry of Industry and Mineral Resources, which visited Germany, discussed enhancing cooperation to...
Business
Meta’s Twitter rival Threads launches web version
One measure of usership, by company Similarweb, showed that daily active users on the Android version of Threads dropped to...
Iraq and Turkmenistan reach preliminary agreement on gas import
Baghdad, Iraq - Iraq has signed a preliminary agreement with Turkmenistan to import gas. The agreement signed by the undersecretary...
Economy
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Geostrategy
Iran’s BRICS membership to strengthen group, says XI
TEHRAN/ JOHANNESBURG, IRAN/ SOUTH AFRICA - The Iranian and Chinese presidents stressed the need to bolster bilateral cooperation and the...
- The BRICS heads of state held their 15th annual summit in Johannesburg.
- The heads of state called for the use of local currencies to facilitate trade.
Business
Saudi EXIM Bank, Evonik sign pact
The insurance policy will protect the risk of non-payment.
- The agreement was signed by the CEO of Saudi EXIM Bank, Saad Al-Khlab, and the General Manager of Evonik Industries, Abdulmohsen Al-Muhaidib.
- Al-Khlab said the collaboration is an extension of the bank's commitment to bolster the export endeavors of national institutions.
Arts & Culture
Most expensive American falcon sold for $146,000 at Saudi auction
Riyadh, Saudi Arabia -- An American pure ultra-white falcon cherrug sold for SAR550,00 ($146,000) at the third edition of the...
- The most expensive falcon, known locally as a Hur, belongs to the American MGE farm. It measures 18 inches in length and 18.5 inches in width and weighs 1.4kg.
- The bidding for the falcon started at SAR200,000 before being sold for SAR550,000 ($146,000).