BP to pour US$1.5bn into Egypt oil exploration
It plans to hike investments in the country to US$5 billion.
Business
Iran-EU trade surpasses US$5bn in 2023, says Eurostat
TEHRAN, IRAN - The Statistical Office of the European Union (Eurostat) reported that Iran and the 27 European Union member...
Business
‘Potential hijack’ of ship off UAE coast: UK maritime security agency
The MarineTraffic website, which categorises the vessel as an asphalt and bitumen tanker, said it was travelling to Sohar, a...
TAQA, Emirates Steel to manufacture MENA’s first green steel
The project will save energy while creating a sustainable and clean manufacturing process, says TAQA.
Gulf workers’ top data skills least utilized by employers
A survey says making full use of the analytic expertise core requirement for the Gulf to continue competing globally.
Etihad Rail inks transport deal with Western Bainoona Group
Etihad Rail will now provide rail freight services to transport construction materials from Western Bainoona Group’s facilities to its construction...
ADNOC sells its first cargo of blue ammonia to Itochu
The sale was made in partnership with Fertiglobe, which will produce blue ammonia at its Abu Dhabi plant for delivery...
Dubai-Korea relations strengthen with $882m bilateral trade in Q1
Imports had the lion’s share at AED2.551 billion, followed by exports at AED549.782 million, and re-exports at AED137.473 million, Ahmed...
At $690m, Saudi gaming market is next big thing in region
Saudi Arabia has seen a sharp rise in the gaming market among its population, with total gamers running into 21...
PMI: Saudi non-oil economy expands but challenges ahead
PMI falls for the first time in four months in July. The downgrade driven by weaker growth in output, new...
Amazon to launch ‘Lord of the Rings’ series in Sep 2022
The streaming service hopes that the yet-to-be-titled series will rival the success of "Game of Thrones."
- The streaming service hopes that the yet-to-be-titled series will rival the success of "Game of Thrones."
- The first season's episodes will be released on a weekly basis
Abu Dhabi cuts procedures to start business by 71 percent
Discussions with stakeholders helped the Abu Dhabi government identify and remove duplicate requirements and modify existing requirements to facilitate the...
BP to pour US$1.5bn into Egypt oil exploration
It plans to hike investments in the country to US$5 billion.
Business
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Reliance posts Q1 profit rise
Business
PIF establishes company for developing Ajwa dates products
Riyadh, Saudi Arabia -- Saudi Arabia's sovereign wealth fund, the Public Investment Fund, announced Sunday it has established Al Madinah...
Business
Dubai Customs processes over 14m transactions in first six months of 2023
DUBAI, UAE - Keeping pace with the UAE’s strong economic growth, Dubai Customs cleared 14 million customs transactions during the...
Business
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Twitter challenger Threads struggles for traction
Twitter continues to dominate its space as a platform for online comment and news, and Musk "would have to completely...
- The average amount of time people spend on Threads daily has plummeted more than 75 percent since the platform made a rock star debut on July 6
- Threads has a lot to prove, and features to add, to become a formidable Twitter alternative, according to Insider Intelligence analyst Jasmine Enberg
Business
Saudi Fund for Development commits $10m to boost tourism in Bahamas
Riyadh, Saudi Arabia -- The Saudi Fund for Development (SFD) and Bahamas have signed a $10 million agreement to build...
- Nassau Island set to accommodate 50 small businesses, Exuma Island to house 25 small businesses, and Grand Bahama Island to host an additional 25 small businesses.
- This is SFD's inaugural foray into The Bahamas, making it the 89th country to receive funding for a development project from SFD.
Business
Arab SWFs accelerate dealmaking amid scarce funding
Joint investments by sovereign funds hit a record $17.2 billion in H1 this year as Gulf states fund global equity...
- Joint investments by sovereign funds hit a record $17.2 billion in H1 this year as Gulf states fund global equity firms, including KKR & Co., EQT AB, and Brookfield
- Middle Eastern investors, including the Abu Dhabi Investment Authority and Mubadala Investment Company, are planning to invest billions in high-profile acquisitions