Boeing CEO says company can’t afford another mistake: report
Boeing CEO Ortberg told workers a trade war with China would weigh heavily on Boeing. The meeting came about two...
US Fed expected to look beyond Trump win and cut rates again
The labor market has remained resilient, despite a sharp hiring slowdown last month due to adverse weather conditions and a...
Economy
Business
ADNOC Distribution to go for 25 percent cut in carbon intensity by 2030
ABU DHABI, UAE - ADNOC Distribution on Friday announced plans to reduce its carbon intensity by 25 percent by 2030....
- This reduction in carbon intensity will be implemented by putting sustainability at the core of its day-to-day operations to future-proof its business.
- The company said it will install solar panels to power service stations and use biofuels in its fleet of vehicles.
Business
TAQA acquires stake in Taweelah
TAQA took up the operation and maintenance of the plant.
- As part of a transaction valued at US$65 million (approx. AED239 million), TAQA has completed its acquisition from BTU Power Company.
- TAQA acquired an additional 10 percent ownership stake in the owner of the Taweelah B IWPP – Taweelah Asia Power Company.
Business
Abu Dhabi’s Department of Energy, New York University sign MoU
The MoU aims to enhance cooperation and exchange of information and expertise between the DoE and NYUAD in capability development.
- The MoU aims to enhance cooperation and exchange of information and expertise between the DoE and NYUAD in capability development
- It calls for scientific, technical, technological, legislative, and administrative cooperation in energy and water efficiency, sustainability, and conservation
Business
Netflix soars to 230 mn subscribers, co-founder steps down
Netflix became a publicly traded company in early 2002 at an opening price of $15 a share. Shares in the...
- The changing of the guard was announced as Netflix posted added subscribers that blew past even the most optimistic expectations
- The streaming giant said it enticed 7.7 million new members in three months, bringing Netflix membership around the world to 230 million people
Geostrategy
DEWA showcases its sustainability projects to French, Cuban delegations
DUBAI, UAE - MD and CEO of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer received a high-level...
- The meetings with the French and Cuban delegations were held at DEWA’s stand at the World Future Energy Summit in Abu Dhabi.
- The MD and CEO of DEWA discussed the firm's projects in sustainability, renewable and clean energy.
Business
Twitter bird frame fetches $1million for Musk at auction
San Francisco, USA - A Twitter bird statue fetched $100,000 on Wednesday as Elon Musk auctioned off furniture, decorations, kitchen...
- Among the 631 lots were espresso machines, ergonomically correct desks, televisions, bicycle-powered charging stations.
- Musk in December said that severe cost cuts at Twitter had repaired the company's dire finances as he set out to find a new CEO.
Geostrategy
Netanyahu, US security advisor discuss normalizing ties with Saudi
Netanyahu, who returned to office last month with the formation of a new government, was at the helm in 2020...
- In their talks, Netanyahu and Sullivan discussed "measures to deepen the Abraham Accords and expand the cycle of peace, with an emphasis on a breakthrough with Saudi.
- Before speaking with Netanyahu on Thursday, Sullivan had met with head of Israel's Mossad spy agency David Barnea and Israeli national security advisor Tzachi Hanegbi.
Business
TAZIZ, PROMAN sign pact
They will build UAE’s first world-scale methanol production facility.
- The facility has an anticipated annual capacity of up to 1.8 million tons.
- The facility has an anticipated annual capacity of up to 1.8 million tons. Methanol has a variety of uses including in fuels, solvents, pharmaceuticals and construction materials.
Economy
MoIAT, Ras Al Khaimah Economic Zone ink pact to promote industrial growth in UAE
ABU DHABI, UAE - The UAE Ministry of Industry and Advanced Technology (MoIAT) and Ras Al Khaimah Economic Zone (RAKEZ)...
- MoIAT and RAKEZ will cooperate in programs and initiatives under the National Strategy for Industry and Advanced Technology, Operation 300bn,
- The two entities will encourage industrial companies to join the UAE Industry 4.0 program and undergo a readiness assessment.
Business
Masdar City, ADGM ink pact to strengthen foreign investment in Abu Dhabi
ABU DHABI, UAE - Masdar City and the Abu Dhabi Global Market (ADGM) Thursday signed a Memorandum of Understanding (MoU)...
- Masdar City and ADGM will work together to attract new investors to their free zones and benefit from each other’s capabilities.
- The two entities will exchange best practices and promote institutional integration.
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Boeing CEO says company can’t afford another mistake: report
Boeing CEO Ortberg told workers a trade war with China would weigh heavily on Boeing. The meeting came about two...
Company News
Arab Bank posts net profit
Business
Latest News
Elm net profit up 43%
Business
Abu Dhabi fund CYVN invests $2.2bn in Nio
This follows an earlier investment of $738.5 million by CYVN in July.
Business
Taiwan shipping giant Evergreen suspends Israel cargo services
Due to "escalation of war situation in recent days, Evergreen will temporary suspend Israel import and export service due to rising...
Geostrategy
Most Read
Business
BCI’s subsidiary secures US$100m loan from SIDF
RIYADH, SAUDI ARABIA - Basic Chemical Industries Co.'s (BCI) subsidiary Chemical Marketing and Distribution Co. Ltd. secured a loan from the Saudi...
- The US$100 million loan has a duration of seven years and three months starting from October 8, 2025.
- BCI mortgaged all fixed assets of the project as guarantees for financing, in addition to a corporate guarantee.
Business
Saudi EVIQ unveils R&D facility
It will be used to test a range of EV chargers and software.
- The CEO of EVIQ said that with the setting up of R&D facility the company was paving the way for the growth of a sustainable EV ecosystem in Saudi Arabia
- The company said that the facility will serve as a hub for developing the expertise and knowledge in EV charger technology, bolstering the EV market in the kingdom
Business
Russia’s Gazprom sets new daily record for gas supplies to China
Moscow, Russia--Gazprom has set a new record for daily gas supplies to China via the Power of Siberia pipeline on...
- According to Gazprom, supplies are made under a bilateral long-term gas purchase and sale agreement between the oil company and China
- The company added that since November it has ramped up the volume of gas supplies to China as per the previously signed additional agreement