Egypt signs several MoUs with global developers in renewable energy
Cairo, Egypt--Egypt has signed seven Memoranda of Understanding (MoUs) on Wednesday in green hydrogen and renewable energy with seven global...
Business
Saudi real estate sees new era of growth, innovation
The Kingdom's property sector is driven by a projected $3 trillion GDP by 2030 and evolving consumer preferences towards homes...
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Bavarian & DEWA discuss renewable energy collaboration
They also discussed boosting relations, and interchanging knowledge with German businesses.
- DEWA and Bavarian officials met to discuss partnership in clean energy
- By 2050, Dubai plans to fulfill 75 percent of its energy requirements through renewable sources
Business
Combat Field: a gamer’s paradise at Riyadh Season
Among many attractions of Riyadh Season is Combat Field for fans of war and combat games. It simulates the reality...
- The total area of the Combat Field area situated in "Janadriyah" northeast of the capital, Riyadh is about 310,000 square meters
- Also, the Combat Field area includes a weapons museum, 5 exhibitions for the sale of ammunition, weapons and accessories, as well as live shows of fighting robots
Business
UAE minister says global energy transition to take time
The United Arab Emirates’ minister of state, Sultan Al-Jaber, said that the world needs to accept that global energy transition...
- The minister believes that the world is entering an oil supply crunch
- He said that 80 percent of energy demand still comes from fossil fuel. He added that the world was ‘underinvesting’ in hydrocarbons
Business
New leaks rock Facebook
Internal documents seem to support the accusations.
- Facebook held back from doing all it could to stop users from being radicalized, say recent leaks
- It is also accused of not doing enough to stop US election misinformation from flooding the social network
Business
European nations strive to cushion energy price hikes
Price freezes, tax cuts, energy payments or credits, targeted aid... in the face of soaring energy prices European nations are...
- France announced Thursday a one-time, tax-free payment of 100 euros to people with revenues of less than 2,000 euros per month
- It had already announced an exceptional, additional 100-euro payment to six million households which receive cold weather payments to help pay their energy supplier
Business
Bitcoin drops off record high as ETF-frenzy subsides
Cryptocurrencies declined on Friday following an ETF-fueled rally that saw it reach a record $67,016 on Wednesday, as investors questioned...
- Bitcoin’s recent rally — six-months after its previous top of $64,895 — was fueled by the debut of the ProShares Bitcoin Strategy ETF
- Investors have bet the long-awaited launch of bitcoin ETFs will lead to greater investment from both retail and institutional investors
Business
STV sets its sights on $1bn Middle East tech fund
STV is aiming to raise at least $1 billion for its second Middle East technology investment fund, making it potentially...
- The people chose to remain anonymous as the details of the fund remain private
- IPOs in the region have also recently taken prominence with Adnoc Drilling coming to the market as the largest IPO on the Abu Dhabi stock market
Business
Al Babtain to procure SAR 250m loan
The facility will be provided through Murabaha mode
- The duration of the banking facility is four years and 282 million riyals have been pledged as guarantees for the financing.
- The company said the loan will be used for re-structuring a part of short-term finances.
Business
Banan to distribute cash dividends
The shareholders will get dividends for the period ending June 30.
- Banan Real Estate Company focuses on the investment and development of commercial, hospitality, and residential real estate.
- The dividends will be distributed automatically by depositing in the investment accounts linked to the shareholders’ portfolios.
Business
Samsung SDI, Stellantis deal
The two companies will set up EV battery joint venture
- The two companies will set up a "joint production body" in the United States to produce EV battery cells and modules
- With the deal, Stellantis has "secured production capacity" to realise its goal to have electric vehicles make up 40 percent of its US sales
Egypt signs several MoUs with global developers in renewable energy
Cairo, Egypt--Egypt has signed seven Memoranda of Understanding (MoUs) on Wednesday in green hydrogen and renewable energy with seven global...
Business
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DEWA picks bidder for 1,800MW phase of Al Maktoum Solar Park
Dubai, UAE -- In a step towards its clean energy ambitions, the Dubai Electricity and Water Authority (DEWA), has announced...
Business
QCB to grant licenses to website providers for comparing prices of insurance policies
Doha, Qatar--Qatar Central Bank (QCB) has exhorted companies willing to work in providing website services to compare prices of insurance...
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Saudi home to three of top five Arab smart cities
Saudi Arabia, which has pioneered the development of smart cities in the region, plans to establish more than 200 smart...
- The Middle East and North Africa's smart city spending is expected to reach $2.7 billion by 2022, driven primarily by the region's progressive, innovative city projects.
- NEOM, Egypt's New Administrative Capital, Abu Dhabi's Masdar City, and Dubai Digital Park are examples of this trend.
Business
Cage fight with Zuckerberg will be in Italy, says Musk
WASHINGTON, US - Elon Musk said that his much-hyped cage fight with Mark Zuckerberg would take place in Italy, as authorities...
- Musk said on his X social media platform - formerly known as Twitter - that arrangements were advancing.
- Meta chief Zuckerberg responded on his Threads social network, posting a photo of himself shirtless and pinning down an opponent.
Business
EDGE signs agreement with Turbomachine to jointly build engines
Abu Dhabi, UAE--EDGE has signed an agreement with Turbomachine to work together on the development of engines, including turbofan and...
- The agreement will enable both to work together on the development of engines, including turbofan and propellant fan
- The Brazilian company specialises in research, innovation, and engineering and development of gas turbine engines