Gold hits record, dollar drops as tariff fears dampen sentiment
With several markets still closed for the Easter holiday, business was limited ahead of a week that will see the...
Business
Business
Infracorp, Equitix partner join hands
Collaboration to boost Infracorp’s Infrastructure footprint.
- Aurora serves a blue chip international industrial client base which has invested more than €4.5 billion combined in the Company’s two sites (AKO and ATO) since 2005
- Equitix has over $11.7 billion of assets under management and is the infrastructure investment division of Tetragon, the global asset management group
Business
Doha Port receives Costa Toscana, marking start of cruise season
Doha, Qatar--Doha Port has received the Italian cruise ship Costa Toscana of Costa Cruises, as part of the cruise's first...
- The cruise ship has a capacity of about 6,500 visitors, and features a water park, 13 swimming pools and hot tubs, 13 restaurants and 19 entertainment lounges
- Maryam Saoud added that Costa Toscana is one of the cruise ships that are powered by natural gas, which demonstrates the commitment to sustainability
Business
Mawani, MARASI ink pact to establish Seafarers Club in Saudi ports
Mawani has been working to strengthen the position of Saudi ports as a part of the Kingdom’s National Transport and...
- Mawani has been working to strengthen the position of Saudi ports as a part of the Kingdom’s National Transport and Logistics Strategy
- The Seafarers Club will have various amenities including a hotel, call centers, cafes, entertainment halls, multiple restaurants, a food commodity store
Business
Middle Eastern SWFs eye Europe, US for cheap assets
The region's SWFs more than doubled their investments in Western economies to $51.6 billion in 2022 from $21.8 billion a...
- The region's SWFs more than doubled their investments in Western economies to $51.6 billion in 2022 from $21.8 billion a year earlier, says the latest Global SWF report
- The momentum of Middle Eastern SWFs, especially in GCC, remain strong due to an average oil price of $99 per barrel and the peg of their currencies to the dollar, it adds
Business
15 top panels to discuss defense advancements in IDEX, NAVDEX 2023
ABU DHABI, UAE - IDEX and NAVDEX 2023 exhibitions, to be held from February 20-23 in Abu Dhabi, will host...
- The panels will feature prominent leaders and decision makers from around the world
- The panels are an ideal platform for facilitating discussions about relevant focus areas in the defense and naval defense sectors
Geostrategy
UAE, Korea discuss partnership in renewable energy, technology
The two sides discussed various paths of cooperation and development in the investment, economic, scientific, cultural and advanced technology fields.
- The two sides discussed various paths of cooperation and development in the investment, economic, scientific, cultural and advanced technology fields.
- Both the countries also reviewed partnership in renewable energy and other vital areas of interest within their two countries' future plans.
Business
Majid Al Futtaim among firms to halve real estate emissions by 2030
These companies also pledged to reach net-zero carbon no later than 2050. With buildings contributing 38 percent of all energy-related...
- Avison Young, Edge, GPFI Group, Ivanhoé Cambridge, JLL Schneider Electric and Signify were the other firms that pledged the emissions cut.
- These firms will meet these targets by implementing the Forum’s Green Buildings Principles, which provides a sequence of steps to deliver net-zero carbon real-estate portfolio.
Science
WEF’s Open Forum from Jan 16-20 to focus on global environment
DAVOS-KLOSTERS, SWITZERLAND  – As part of the World Economic Forum Annual Meeting 2023, this year’s Open Forum Davos from January...
- Leaders from all walks of life will explore opportunities and solutions for the many environmental crises that the world is facing.
- The meet will discuss the lessons the world has learned, and the biggest challenges the people face in the fight to stabilize the climate.
Geostrategy
Baghdad-Amman oil pipeline will soon be functional, says Iraqi Parliamentary Speaker
BAGHDAD, IRAQ - Iraqi Parliamentary Speaker Mohammed al-Halbousi said that an oil pipeline from Basra port to the Jordanian port...
- Iraq and Jordan will form joint parliamentary committees to overcome legislative impediments to projects.
- The Jordanian delegation held a series of meetings with Iraqi officials.
Economy
UAE launched clean energy projects worth $43 bn in 2022: Minister
UAE Minister of Energy Suhail bin Mohammed Al Mazrouei highlighted the UAE Energy Strategy 2050, the first unified energy strategy...
- UAE’s clean energy production in 2021 totaled 7,035.75 megawatts (MW), underscoring the country's efforts in the clean energy sector.
- The minister said that once commercially operational, the third reactor will add another 1,400 MW of carbon-free electricity to the UAE's electricity grid.
Company News
Fertiglobe Q3 revenue of $525m
Business
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Aramco profits down
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IsDBI begins building digital marketplace for Islamic finance
Jeddah, Saudi Arabia -- The Islamic Development Bank Institute (IsDBI) has kicked off the development of the Islamic Finance Knowledge...
Business
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Business
Makeen, Rolls-Royce forge partnership
They will manufacture, test, sell and service mtu engines in Saudi.
- The deal marks a milestone for the industrial development of the Kingdom’s rapidly growing marine and off-grid power generation sectors, according to the release, Aramco said.
- Makeen aims to deliver state-of-the-art solutions to meet the evolving demands of our valued customers in oil and gas, said Makeen CEO Abdullah Al-Ghamdi.
Business
Qatar’s foreign merchandise trade surplus $4.58 billion in Nov 2023
Doha, Qatar -- Qatar's foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus...
- Total exports of goods amounted to around QR 26.5bn in Nov 2023, showing a decrease of 28.6 percent compared to Nov 2022, and a decrease of 8.8 percent compared to Oct 2023.
- In Nov 2023, China was at the top of the countries of destination of Qatar's exports with close to QR 5.4 billion, a share of 20.4 percent of total exports.
Business
PGA works to extend ‘active and productive’ Saudi merger talks
An update on the PGA Tour website regarding talks said the memo, which reportedly was obtained by The Golf Channel...
- The update to players in a memo from Monahan came hours ahead of the year-end deadline to approve a framework agreement merging the PGA Tour, DP World Tour and PIF
- Tour commissioner Jay Monahan said the PGA Tour had made "meaningful progress" in separate negotiations to have Strategic Sports Group (SSG) become a tour minority investor