Construction in China-Saudi Arabia ethylene project begins
FUZHOU, CHINA - Construction of the main complex of a joint-investment ethylene project, which involves petrochemicals giant Saudi Basic Industries...
Business
Mawani inks deal with UFC to build silos at key Saudi ports
Once the silos are built, the at Jazan and Ras Al Khair ports will have a total storage capacity of...
Mubadala invests $250 million in biosimulation firm Certara
The deal happened between Certara, Mubadala, and some existing shareholders of Certara, including a shareholder affiliated with EQT.
Qatar Emiri Air Force adds four more Rafales
The four multirole combat aircraft from France’s Dassault Aviation include three single-seat Rafale EQ and a twin-seat Rafale DQ.
Sharjah survey to measure sector-wise growth in emirate
Department of Statistics and Community Development said the impact of government policies on the economy is reflected in the survey...
Emirates NBD’s first half profit rises 17% to Dh4.8 billion
Total income of the Dubai’s largest bank has jumped 9 percent over the preceding half year due to a marked...
Saudi tourism fund adopts cloud computing to help investors
Tourism Development Fund, which was set up in June, says use of Oracle Cloud applications will enhance data integration, increase...
$350m Murabaha financing for Pakistan concludes
Twelve banks from the region fully subscribed the transaction in which Ajman Bank also acted as investment agent.
One of world’s largest carpet factories coming up in Dubai
The solar-powered facility will enable Standard Carpets to increase production capacity by 40 percent and produce and additional 400 tons...
Automotive plastic sales to cross $9.5bn this year
Increasing demand for commercial and passenger vehicles and flourishing automotive export industry are primary factors propelling the market growth, according...
Tesla quarterly profits top $1 billion for first time
Record deliveries of electric cars during the period allowed Elon Musk's company to garner earnings of $1.1 billion in the...
Construction in China-Saudi Arabia ethylene project begins
FUZHOU, CHINA - Construction of the main complex of a joint-investment ethylene project, which involves petrochemicals giant Saudi Basic Industries...
Business
Company News
Stock markets slip on auto woes, economy fears
Market Report
Nokia Q1 earnings down
Business
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DEWA exhorts customers to take ‘measures’ in order to avoid fire
Dubai, UAE--Dubai Electricity and Water Authority (DEWA) has called on the public to take all necessary measures to avoid the...
Economy
IHG to open Hotel Indigo in Oxagon
Oxagon is a coastal industrial city in Saudi Arabia's NEOM.
Business
Asian markets swing as US jobs data disappoint
Asian equities wobbled at the end of a draining week as fresh US jobs data put revived bets on two...
Market Report
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Tech titans promise watermarks to expose AI creations
Representatives from Amazon, Anthropic, Google, Inflection, Meta, Microsoft, and OpenAI were to join US President Joe Biden later Friday to...
- Commitments by the companies include independent testing of AI systems for risks when it comes to biosecurity, cybersecurity, or "societal effects," according to the White House
- Watermarks for AI-generated content were among topics EU commissioner Thierry Breton discussed with OpenAI chief executive Sam Altman during a June visit to San Francisco
Business
Saudi Arabia’s PIF sets up Sawani Company for camel dairy industry
RIYADH, SAUDI ARABIA - The Public Investment Fund (PIF) announced the establishment of Sawani Company to enable the growth of...
- The company aims to be a leading producer of camel dairy products, supporting Saudi Arabia’s wider food and agriculture sector.
- Sawani will work in partnership with the private sector to boost the production capacity of the camel dairy industry.
Business
Aramco buys 10% stake in Chinese petrochemical firm for $3.4 billion
The Saudi energy giant unveiled plans in March to acquire the stake in Rongsheng Petrochemical, valued at $3.4 billion. The...
- "Our strategic partnership with Rongsheng advances Aramco's liquids to chemicals strategy while growing our presence in China," Aramco vice president Mohammed Al Qahtani said.
- Aramco, which is mostly state-owned and said it earned record profits totaling $161.1 billion last year, has pledged to achieve "operational net-zero" carbon emissions by 2050.