Gulf Air orders 12 Boeing 787 Dreamliners for $4.6 billion
San Francisco, United States -- US aviation giant Boeing on Thursday signed a contract worth billions of dollars to sell...
Business
China’s Baidu to deploy driverless cars on Uber
Beijing, China -- Chinese internet giant Baidu plans to launch its driverless cars on ride-hailing app Uber in Asia and...
Business
Business
Masdar to develop 2GW of clean energy projects in Uzbekistan
Abu Dhabi, UAE -- Abu Dhabi Future Energy Company (Masdar) has signed an agreement with Uzbekistan’s Ministry of Energy (MoE)...
- Besides 2 gigawatts of solar and wind projects, 500 megawatt-hours of battery energy storage at multiple sites across the Central Asian country would also be developed.
- Uzbekistan plans to achieve 7GW of solar and 5GW of wind capacity by the end of the decade. Masdar’s portfolio in Uzbekistan includes the largest wind farm in Central Asia.
Gaza beekeeper tends hives by restive border
With 45 percent unemployment in Gaza, according to the International Monetary Fund, Khoudair's bees provide her with a job.
- Despite the dangers, the frontier's farmland offers some of the only areas in Gaza's densely-populated urban environment suitable for beekeeping
- With 45 percent unemployment in Gaza, according to the International Monetary Fund, Khoudair's bees provide her with a job
Business
Foreign, joint investments in Saudi industrial sector reach $144bn
The investments this year account for 37 percent of the sector's total, and 17 percent of the total existing factories,...
- A spokesman of the ministry said in a statement that foreign investors had 930 factories in the kingdom, or 9 percent of the total with over SAR 71 billion investments.
- The number of factories totaled 10,910 with over SAR 1.46 trillion in investments in the five-month period this year.
Elon Musk says Microsoft broke its rules for developers
Twitter called on Microsoft to identify all Twitter content that has been in its control during the past two years;...
- Microsoft stopped accessing Twitter data in April, opting not to pay fees Musk demanded developers pay for APIs that engage with the platform, according to the letter
- Elon Musk, the billionaire boss of Twitter last month fired off a Tweet accusing Microsoft of illegally using Twitter data to train artificial intelligence, writing "lawsuit time"
Hyatt to develop tourist destinations in Saudi Arabia
Riyadh, Saudi Arabia - Saudi Arabia’s Tourism Development Fund (TDF) has announced the signing of a Memorandum of Understanding with...
- The destinations may include beach and urban hotels, as well as mountain, desert and farm retreats
- They will be developed under Hyatt’s existing trademarks, such as Alila Resorts, Park Hyatt, Grand Hyatt etc
Business
OPEC-China alliance key to global oil market stability
A pragmatic framework for cooperation has been established between the two entities, fostering an ongoing exchange of views on mutual...
- OPEC Secretary-General Haitham Al Ghais emphasizes the importance of the dialogue partnership with China, with a plan to reinforce and strengthen it
- A balanced framework for cooperation between OPEC and China has been established, facilitating an ongoing exchange of views on mutual energy issues, he says
Business
UAE bank investments at all-time-high of $147 bn in February
Abu Dhabi, UAE - Bank investments in the UAE hit $147 billion by the end of February, the highest level...
- Held-to-maturity securities accounted for 42.5 percent of the total investments, reaching $52.4 billion
- The bank stock investments reached $3.3 billion in February, a rise of approximately 1.7 percent
Business
Green initiatives, SWFs drive M&A growth across GCC
Saudi Arabia emerges as an appealing market for foreign corporations interested in M&A deals due to rising global crude oil...
- Saudi Arabia emerges as an appealing market for foreign corporations interested in M&A deals due to rising global crude oil demand, Vision 2030, and private sector development
- Digital transformation and ESG considerations are shaping businesses, leading to an upward trend in 'green' related acquisitions in the Gulf as investors get more eco-friendly
Geostrategy
UAE discusses global economic challenges in EBRD meeting
SAMARKAND, UZBEKISTAN - The UAE, represented by the Ministry of Finance (MoF), participated in the 2023 Annual Meeting of the...
- Representatives of member states, private sector, the Board of Directors and the bank's management attended the meeting.
- The UAE said focus should be on enhancing regional, global integration, to facilitate trade, investment and closer economic cooperation.
Business
Dubai records over $462 million in real estate deals
Dubai, UAE -- Dubai real estate market recorded deals worth more than AED 1.7 billion (on Thursday, Dubai Land Department...
- The deals include 451 sales transactions worth AED1.48 billion, in addition to 110 mortgage deals of AED245.8 million.
- April 2023 was the best month in a decade for Dubai's real estate market, both in terms of the number of transactions and the value of these deals.
Gulf Air orders 12 Boeing 787 Dreamliners for $4.6 billion
San Francisco, United States -- US aviation giant Boeing on Thursday signed a contract worth billions of dollars to sell...
Business
Company News
Latest News
Mubadala invests in Manipal Health
Manipal Health offers multispecialty care through 30 hospitals.
Business
Irbid chamber industrial exports up
The value of certificates of origin issued stood at US$65m.
Business
Most Read
Business
Jordan’s EMRC grants approvals for EV charging infrastructure
AMMAN, JORDAN - The Energy and Minerals Regulatory Commission (EMRC) has issued over 300 authorizations for the installation of electrical...
- EMRC records indicate a distribution of 49 publicly accessible charging stations alongside 14 privately owned stations.
- The capacity for the installation of multiple charging units at a single site, with 230 charging facilities holding establishment permits.
Business
Solutions-Devoteam deal completed
Devoteam Middle East is a subsidiary of Devoteam Group.
- The total value of Devoteam Middle East is approximately SAR741.7 million.
- Solutions by stc had signed a binding offer and first unveiled details of the transaction in June 2023.
Business
Use of DEWA’s electric-vehicle green chargers up 59% in 2023
Dubai, UAE -- Dubai Electricity and Water Authority (DEWA)’s EV Green Charger initiative witnessed a 59 percent increase in the...
- Dubai has seen a notable increase in the use of EVs since 2015. The number of EVs in the Emirate reached 25,929 vehicles by December 2023.
- The number of EV owners registered under the initiative has increased from a mere 14 in 2015 to more than 13,959 by the end of December 2023.