Business
DEWA’s sustainability report out
It focuses on social, economic and environmental aspects.
- The 8th annual Sustainability Report 2020 focuses on DEWA’s efforts in promoting sustainability with its social, economic and environmental aspects
- The authority follows the best international practices as well as sustainable and integrated systems that ensure providing value-added services
Business
Jeddah Islamic Port ranks 37 on Lloyd’s list of 100
Jeddah Islamic Port, the largest in Saudi Arabia, has ranked 37 on Lloyd’s list of top 100 global ports in...
- The 2021 edition of Lloyd’s list of top 100 ports was recently published, measuring the annual container throughput volumes of global ports in 2020
- Jeddah Islamic Port had reported a growth of 6.8 percent in 2020, with volumes increasing to 4.7 million TEUs (twenty-foot equivalent unit) from 4.3 million TEUs in 2019
Business
Work starts on Egypt’s $9bn high-speed train
Work began on Egypt's $9 billion first high-speed train project, connecting the Red Sea coast with the Mediterranean coast, across...
- Egypt began implementing its first high-speed train project
- The Egyptian contracting companies are completing the preparation of the road
Business
Dubai Metro to open Jumeirah station on Sept 1
The station would be opening well ahead of the beginning of the Expo 2020 Dubai events, which it will be...
- The station is expected to be able to serve 11,555 riders per hour during peak times, and about 250,000 riders per day
- It has two train-boarding platforms, four bus stops, and 20 taxi stands to pick up and drop off riders, along with hundreds of free parking spaces in its surroundings
Business
Holy and worldly offerings of Saudi tourism
The Arab world's most powerful economy is devoting enormous resources to attracting at least 100 million tourists by 2030. TRENDSMENA...
- King Fahd Fountain, the tallest fountain in the world, holds up to 318 tons of seawater and measures 312m in height.
- Masjid al-Haram comprises 13 minarets, while five main entrances/doors and hundreds of subsidiary doors give the building its overall form.
Business
Truckmaker Scania pauses production over chip shortage
This week's suspension is Scania's first since the coronavirus pandemic forced a production halt in April 2020
- This week's suspension is Scania's first since the coronavirus pandemic forced a production halt in April 2020
- "It's a difficult period and too many things are pointing in the wrong direction," Scania spokeswoman Karin Hallstan told AFP
Business
Abu Dhabi Media taps STARZPLAY to stream AFC matches
Enthusiasts may buy a subscription of 2 sports channels for AED15 (a little more than $4) or the entire STARZPLAY...
- From September, the matches are expected to be streamed on STARZPLAY
- The streaming will start with the Asian qualifying matches for the FIFA World Cup 2022 in Qatar
Economy
Foreign investment in Saudi markets rose 150% in Q2
The sectors in the country that attracted the most foreign investment were banking, basic items, energy, and communications.
- Saudi Arabia was granted membership of the World Trade Organization in 2005
- This is opened up the country to ever-increasing investments from foreign parties
Business
Turkey buys drones from firm where Erdogan kin is CTO
The drones have been made by Baykar, whose CTO is the son-in-law of Tuekey’s president.
- The UAVs, called Akinci, have been made by private drone-maker Baykar
- The Turkish military on Sunday took delivery of these drones, whose name means “raider” in Turkish
Business
Etisalat to partner with GMIS on 5G
The UAE-based company will share practices at GMIS 2021.
- The GMIS is being held at Expo 2020’s Dubai Exhibition Centre.
- Discussions will focus on government , society, women in leadership and the UAE’s Operation 300bn.
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Italy’s Eni Q2 profits down
Adjusted net profit also fell down 49 percent in the second quarter.
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Business
Borouge Q2 net profit $231m
The company posted first-half revenues of $2.8 billion.
- Second-quarter revenue increased by 2.5 percent quarter-on-quarter, to reach $1.4 billion, and declined on a year-on-year basis.
- The company's board has endorsed a dividend of $650 million to be approved by the shareholders during the second half of the year.
Ford raises 2023 profit outlook
Profits in the second quarter were $1.9 bn.
- Profits in the second quarter were $1.9 billion, nearly triple the year-ago level on revenues of $45 billion
- Ford slowed its timeframe for ramping up EV production, pushing back the timeframe to reach 600,000 per year in 2024
Business
Iran carmaker Saipa supplies 2nd batch of cars to Venezuela
Tehran, Iran – Iran's second-largest carmaker, Saipa, has successfully delivered another batch of cars to Venezuela as part of an...
- The shipment consisted of 1,000 completely build-up (CBU) cars, which were sent to Venezuela during the Iranian calendar month ending in late June
- Iran will supply a total of 200,000 cars to customers in Venezuela over the next five years as per the agreement between the two countries