No peak oil demand ‘on the horizon’, phaseout a ‘fantasy’: OPEC
Paris, France - OPEC said Tuesday that phasing out oil was a "fantasy", as the Saudi-led cartel forecast that demand would...
Economy
Countries where the X social network is banned and why
Paris, France - With its ban of X, which went into effect on Saturday, Brazil joins a small club of countries...
Business
Business
IsDB, SWCC sign agreement
The collaboration will involve efforts from both parties.
- The agreement includes a mechanism for exchanging knowledge and experiences.
- It would involve transferring the experience of SWCC to the member countries of IsDB.
Business
Dubai’s family businesses get practical guidance with new toolkits
Dubai, UAE -- Three toolkits have been developed for family-owned businesses, which make up approximately 90 percent of the UAE’s...
- Three toolkits have been developed for family-owned businesses, which make up approximately 90 percent of the UAE’s private sector, by the Dubai Centre for Family Businesses.
- The majority of these businesses are expected to undergo a generational transition in the next 5-10 years.
Business
TDRA inks pact with PCFC’s Dubai Maritime Authority
DUBAI, UAE - The Telecommunications and Digital Government Regulatory Authority (TDRA) has signed a Memorandum of Understanding (MoU) with the...
- The partnership will help improve the regulatory framework for maritime business operations to enhance efficiency in the sector.
- The MoU establishes a procedure for acquiring necessary authorisations for maritime vessels through the Dubai Maritime Authority.
Business
Saudi Arabia to launch 35 renewable energy projects in 2024: Minister
Riyadh, Saudi Arabia -- Saudi Ministry of Industry and Mineral Resources is set to launch nearly 35 renewable energy projects...
- Geological surveys are ongoing in the mining sector and new mining sites are being launched, te minister said.
- In the industrial field, work is under way to open new businesses and empower others such as the automotive industry.
Business
Aramco, Intel to set up Saudi Arabia’s first open RAN center
Riyadh, Saudi Arabia -- Aramco Digital Co. and Intel have unveiled plans to establish Saudi Arabia’s first open radio access...
- The Open Wireless Access Network Development Center is scheduled to start operations in 2024, marking a milestone in the Kingdom's journey towards a technology-driven future.
- Aramco Digital is a technology subsidiary of energy giant Saudi Aramco that aims to drive digital transformation and technological innovation across industries.
Saudi Chemical Co announces dividend
The company will distribute $11,385,120 to its shareholders.
- Shareholders possessing a portion of the 843,200,000 shares eligible for dividends will benefit from this payout
- Each share is set to receive a dividend of 0.05 SAR, which represents a 5% dividend relative to the share par value
Toyota’s Daihatsu suspends all domestic production
The company said it had been manipulating safety tests since at least 1989, affecting 64 models, including some sold under...
- The firm, which has about 9,000 factory workers in Japan, closed the last of its four domestic plants, a Daihatsu spokesman told on Tuesday
- The move could affect more than 8,000 companies across the country, according to a private research firm
Business
Empower, ASHRAE form alliance
They partnered to lead global expansion of the cooling sector.
- The talks touched on improving energy efficiency within the cooling and heating sector, underscoring the importance of shared knowledge
- One of the results that came out of the meeting was the agreement to develop a standardized District Cooling Guide applicable in various countries
Business
DEWA awards pipeline contract
The US$3m-contract is for the laying of GRE pipes in Hatta.
- The contract is part of the pumped-storage hydroelectric power plant that DEWA is currently constructing in Hatta, a first of its kind in the GCC
- The CEO of DEWA said the project supports the plan to develop Hatta and address its social, economic and environmental requirements
Business
GIB, KSA wrap up Sukuk debut
Gulf International Bank is a merchant bank in the Middle East
- The bank’s Sukuk programme is aligned with its strategic objectives to facilitate balance sheet growth and contribute to the realization of the national economic objectives
- GIB Capital’s CEO Osamah Shaker said that the bank is delighted to act as the sole arranger for the establishment of the Sukuk Programme and the Bank’s debut issuance
No peak oil demand ‘on the horizon’, phaseout a ‘fantasy’: OPEC
Paris, France - OPEC said Tuesday that phasing out oil was a "fantasy", as the Saudi-led cartel forecast that demand would...
Economy
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Parkin to give more shares to retail investors in its IPO
Dubai, UAE - Parkin Company on Tuesday announced an increase in the number of shares offered in the UAE Retail...
Business
Qatar real estate trading volume amounts to US$382m in February 2024
DOHA, QATAR – The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at...
Business
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Business
UAE, NeoNautica collaborate to develop Blue Pass platform
DUBAI, UAE – The Ministry of Energy and Infrastructure has signed a collaboration agreement with NeoNautica, a company specialized in...
- This will help enhance the competitiveness of the national maritime sector, promote its attractiveness to international investors.
- This strategic expansion aims to position the UAE as the premier logistical partner for global trade and further consolidate its leadership in the lindustry.
Business
Microsoft to train Philippine women in AI
It will partner with local schools to provide the training.
- In a statement, Philippine Trade Undersecretary Rafaelita Aldaba said the training could "help to bolster cybersecurity and trust in tech adoption"
- Microsoft said it would roll out an AI-powered reading progress tool for around 27 million Philippine students, in partnership with Philippine education department
Business
Xiaomi announces release date for EV
It will be its first foray into the electric vehicle sector.
- The Beijing-based firm announced in 2021 its planned foray into the electric vehicle sector
- The announcement was accompanied by a photo of the new vehicle, first unveiled in December