Qatar to ramp up gas output with new mega field expansion
At the start of this month, Qatar said it would supply 7.5 million tonnes of LNG per year for 20 years...
Economy
Bosch to cut 3,500 jobs
The company is reducing costs to safeguard competitiveness,
Business
Drydocks World develops ‘South Yard’
The latest project is aimed at increasing the company’s fabrication capacity.
- The firm is building a dedicated facility for new building projects comprising 70,000 sq.m. area
- The world-class yard will feature cutting-edge equipment, a much leaner execution process and a facility for heavy structures
Business
Etisalat’s SmartHub centres grow
SmartHub has become a key element of the digital infrastructure in the region.
- Etisalat’s SmartHub data centres act as an ICT bridge between continents, always supporting critical business activities of global customers
- SmartHub seeks to be a preferred location for carriers, cloud service providers, Internet exchanges and companies looking for a carrier grade data centres
Business
Mrs Bectors subsidiary comes up in UAE
The new company, Mrs Bectors Food International, was incorporated on September 14.
- Mrs Bectors Food Specialities Limited was incorporated as Quaker Cremica Foods Private Limited on September 15, 1995
- Following the termination of a JV agreement, the company was renamed Mrs Bectors Food Specialities Private Limited
Videos
What to Expect at Expo 2020 Dubai?
Expo 2020 Dubai is the first world expo in the Middle East, Africa, and South Asia region.
- The theme of the six-month event is Connecting Minds, Creating the Future
- It covers three sub-themes: Sustainability, Opportunity, and Mobility
Business
Natural Gas Distribution all set to list and trade on Nomu
The listing and trading of shares of Natural Gas Distribution on Nomu will start on September 22, as a direct...
- Daily price fluctuation limits will be +/- 30 percent and static price fluctuation limits will be +/- 10 percent
- The trading of shares will begin on September 22
Business
UAE to become major player in emerging blue hydrogen market: ADNOC CEO
The United Arab Emirates will become a major player in emerging blue hydrogen market, according to the CEO of the...
- The UAE is strengthening its position as a regional leader in natural gas and the emerging blue hydrogen market
- "Today, gas provides almost one-quarter of the world’s energy supply and will continue to play a critical role in the global energy system"
Business
SNOC to meet Sharjah’s gas needs amid rising power demand
Gas will be sourced from SNOC's own resources and ADNOC imports.
- In 2019 SNOC and ADNOC signed an interim contract to close the gas supply gap with SEWA.
- Sharjah has also begun to develop its own resources of gas.
Business
Expats leaving Oman can retain properties under usufruct scheme
The scheme allows them to manage properties from outside the country through law firms or realtors.
- The usufruct period for buildings can last for up to 50 years, and be extended for 99 years.
- With this scheme, Oman aims to keep pace with global trends around controlling the movement of funds.
Business
RoyalJet comes to Dubai to cater to high demand for charter planes
In order to cater to growing demand for charter planes, RoyalJet, the wholly owned subsidiary of the Abu Dhabi-owned RoyalJet...
- Demand for private flights expected to surge further as Expo 2020 draws near
- The jets are available for charter by business and leisure travelers who are looking to fly directly into and out of Dubai
Business
Oman Air to fly to London again
The flights will operate on Wednesday, Friday and Sunday
- The flights will operate on Wednesday, Friday and Sunday
- All flights are scheduled to operate with Boeing 787 Dreamliner
Qatar to ramp up gas output with new mega field expansion
At the start of this month, Qatar said it would supply 7.5 million tonnes of LNG per year for 20 years...
Economy
Company News
Aramco Q1 earnings take a hit
Business
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Saudi Arabia posts budget deficit of US$1.41 billion in Q2 2023
RIYADH, SAUDI ARABIA - Saudi Arabia posted a budget deficit of SAR5.3 billion ($1.41 billion) in the second quarter of...
Economy
Saudi Arabia extends voluntary 1mbpd oil cut to September
Riyadh, Saudi Arabia -- Saudi Arabia will extend the voluntary 1 million barrels per day cut, announced in July, to...
Business
EIH buys stake in Gewan Holding
Acquisition aims to diversify and expand into several sectors.
Business
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Business
SABIC H1 net profit slumps 87%
The second quarter net profit fell 85 percent on weaker demand.
- Year to date, SABIC's share in the results of non-integral joint ventures and associated companies decreased versus prior year.
- Compared to Q1 2023, net profit climbed 78.8 percent from SAR 660 million, due to the re-measurement gains in option rights related to joint venture agreements.
Business
Lufthansa profit soars
The German airline's net profit climbed to US$964m in Q1.
- The airline's positive results were driven by surging demand for flights as well as a rise in ticket prices
- It was hit hard by pandemic border closures, and had to be bailed out by the German government
Business
Nakilat profit up 6.1%
The Qatari gas firm's net profit rose to US$213m in H1 of 2023.
- Its earnings per share (EPS) rose to QR 0.014 as of 30th June 2023 versus earnings per share (EPS) QR 0.14 for the same period in 2022
- Early this year it obtained the approval to raise the ceiling for non-Qatari ownership in the company’s capital to 100 percent