TotalEnergies approves restart of $20-bn Mozambique gas project
Paris, France -- France's TotalEnergies said Saturday the consortium it leads to build a $20-billion liquified natural gas project in...
Geostrategy
Digital sovereignty Is the new independence, says UAE cybersecurity official
Digital sovereignty, in my view, is no longer a technical concept — it’s a cornerstone of national independence and strategic...
Interview
Business
Russia’s Sberbank launches new tourism-oriented services in Iran
Tehran, Iran -- Russia’s largest lender, SBERBANK, is presenting a new service that allows its clients to transfer money to...
- According to Sber, ruble transfers will be sent to the Iranian Pasargad Bank with the standard commission for international transactions of 1 percent.
- Last December, Russia’s second-largest bank VTB launched a similar service in Iran and later in May it opened a branch in the country.
Economy
Iran receives US$6.7bn foreign investment in May 2023 EXPO, says official
TEHRAN, IRAN - Foreign companies and governments committed some US$6.7 billion worth of investments during an exhibition that was held...
- The Iranian diplomat said that his country has an ambitious vision to diversify its economy away from crude oil revenues.
- He said that this includes expanding the transportation infrastructure in Iran to significantly increase its cargo transit revenues.
Economy
Global rice prices hit 15-year high after India curbs: FAO
Rice is a major world food staple and prices on international markets have soared in the wake of the Covid...
- The consumer affairs and food ministry said at the time that the move would "ensure adequate availability" and "allay the rise in prices in the domestic market".
- The ban was expected to hit African nations, Turkey, Syria and Pakistan, all of which were already struggling with high inflation, data analytics firm Gro Intelligence said.
Business
Tabreed signs MoU with Indian state
Asia's largest district cooling PPP project in Hyderabad part of deal.
- The cooling infrastructure will potentially reduce over 200MW of peak electricity demand.
- The district cooling agreements are part of Telangana’s vision to become net zero by 2047.
Business
RAKEZ, Indian Economic Trade Organization ink MoU to boost business ties
RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) and the Indian Economic Trade Organization (IETO) have signed...
- The collaboration focuses on initiating trade missions and investment forums to help Indian businesses understand what RAKEZ offers.
- The agreement promises customized business services for Indian companies that are tailored to their aspiration of expanding into the MENA region.
Business
UK’s Zencargo ventures into UAE, eyes MENA expansion
Abu Dhabi, UAE - The UAE Ministry of Economy has announced that Zencargo, a UK-based company with expertise in digital...
- The company plans to establish operations in the Emirates with a view to integrating into the UAE’s technology, trade and logistics ecosystem
- Zencargo’s presence in the UAE follows the UAE’s Trade Tech initiative, which was launched in partnership with the World Economic Forum
Business
Qatar real estate trading crosses $143m in August 27-31 2023
DOHA, QATAR - The volume of real estate trading in non-residential sales contracts at the Department of Real Estate Registration...
- The total sales contracts for residential units in the Real Estate Bulletin during August 27-31 reached US$75 million.
- The real estate trading in sales contracts in the non-residential category during August 27-31 reached US$ 68 million.
Business
$8.7 billion lawsuit in UK accuses Google of stifling competition
It accuses Google of breaching competition law by shutting out mobile search competition and using its market dominance to increase...
- The claim, filed with the UK Competition Appeal Tribunal, is seeking around £7 billion ($8.7 billion) in damages on behalf of effectively every consumer in the country
- The lawsuit argues that Google abused its dominant position by tying its Search with other apps and services such as requiring smartphone manufacturers to pre-install Google Search
Business
ENOC Group, Kawasaki renew partnership
The pact was signed through ENOC partner CKW Enterprises.
- The agreement grants Kawasaki access to ENOC Group’s advanced lubricants from top-tier mineral oils for regular bikes to fully synthetic oils designed for high-end bikes.
- ENOC said the new products meet an array of standards including, API SP and JASO T903: 2023 MA-2, guaranteeing best-in-class oil thickening and wear protection.
Geostrategy
Saudi crown prince says ready for economic partnership with BRICS
DUBAI, UAE – Saudi Arabian Crown Prince Mohammed bin Salman in a telephonic conversation with Russian President Vladimir Putin has...
- The Russian president and the Saudi crown prince discussed the outlook for BRICS expansion.
- The two leaders reviewed cooperation between the two countries within the OPEC+ agreement framework.
TotalEnergies approves restart of $20-bn Mozambique gas project
Paris, France -- France's TotalEnergies said Saturday the consortium it leads to build a $20-billion liquified natural gas project in...
Geostrategy
Company News
Aamal net profit up 5.7%
Business
HMG 2023 net profit $544m
Business
Latest News
UBS reports lower net profit in 2023
The Swiss government pushed it to buy Credit Suisse last year.
Business
China’s Xiaomi to enter EV market
China's EV sector has grown rapidly in recent years.
Aramco CEO terms energy transition strategy a failure
Speaking at the CERAWeek conference in Houston, Saudi Aramco Chief Executive Amin Nasser said that the current transition strategy is...
Economy
Most Read
Business
Saudi Arabia weighs handing state airline Saudia over to PIF
Riyadh, Saudi Arabia - Saudi Arabia is considering transferring ownership of its national carrier, Saudia, to the sovereign wealth fund,...
- Bloomberg initially reported the discussions regarding PIF's potential acquisition of Saudia
- Currently, PIF already holds ownership of Riyadh Air, the kingdom's upcoming airline
Business
Investcorp Capital names new CFO
Rohit Nanda, the new CFO, will take up his new job next month.
- Nanda before his new appointment was the head of Operations and head of Investment Structuring and Business Support, Asia, at Investcorp
- He is a chartered accountant, holding a master's degree in science with a specialization in finance from the London School of Economics
Business
GenAI set to bridge cybersecurity skills gap by 2028
As GenAI narrows cybersecurity skills gap, organizations will prioritize aptitude over specialized education, adapting hiring practices to meet demands of...
- As GenAI narrows cybersecurity skills gap, organizations will prioritize aptitude over specialized education, adapting hiring practices to meet demands of emerging technologies.
- With malinformation costs set to exceed $500bn, businesses must invest in anti-malinformation programs and leverage chaos engineering to figh against evolving cyber threats.