Electric cars credited with lower CO2 emissions in US neighborhoods
LOS ANGELES, US – The booming use of electric vehicles in parts of California is reducing CO2 emissions in those areas,...
Business
OPEC+ decides to keep oil production levels unchanged
Vienna, Austria--The participants of the 53rd Meeting of the Joint Ministerial Monitoring Committee (JMMC) of the Organization of the Petroleum...
Business
Business
Al Seer signs JV
The agreement was signed with Damen Shipyards and DTec Industries.
- They will implement their success formulas to ventures and local partnerships to sell, build and maintain high-quality, innovative, and cost-effective marine vessels.
- The Joint Venture between the companies will combine the best maritime talent in the industry and help position the UAE as the industry centre of excellence.
Business
Saudi Top to list on Nomu
The company will list 880,000 ordinary shares via an IPO.
- According to a bourse filing, this represents around 22 percent of Riyadh-based Saudi Top’s share capital
- The end price of the offering is expected to be determined once the book-building process for the offering has been completed
Business
Saudi Arabia to host 3rd edition of Gulf Entrepreneurs Forum
The forum targets GCC entrepreneurs and business incubators and accelerators and financing institutions in GCC.
- The forum targets GCC entrepreneurs and business incubators and accelerators and financing institutions in GCC
- Events of the forum include several meetings and sessions, including the experience of GCC states in incubating new businesses
Business
Zain KSA shares go up
The stock rose after the transfer of its subsidiary to the PIF.
- The company, formally known as Mobile Telecommunication Co., will transfer 80 percent of its share capital to the acquirers upon completion of the deal
- As per the offer with the PIF, the company will grant the sovereign wealth fund the right to buy the remaining 20 percent stake at a certain amount
Business
Major Public Cloud providers help GCC revolutionize digital services, boost growth
Leading Public Cloud players are not only providing more choice to Gulf organizations but also offering them speed and data...
- Leading Public Cloud players are not only providing more choice to Gulf organizations but also offering them speed and data residency benefits, says an expert
- Netskope has made significant investments in regional infrastructure, with data centers in the United Arab Emirates and Saudi Arabia, adds Rich Davis of Netskope
Business
Sharjah Chamber joins Egyptian Chamber’s centenary event
The Sharjah Chamber of Commerce and Industry participated in the international conference to mark the 100th anniversary of the Egyptian...
- The Chairman of Sharjah Chambers Chairman met a number of officials from various Chambers of Commerce and Industry.
- He also met with representatives of ministries and bodies concerned with economic affairs, unions, and economic organizations from different countries.
Business
DEWA’s Jebel Ali plant enters Guinness World Records for second time
It was named as the Largest Single-Site Water Desalination Facility in the World by the Guinness World Records.
- The plant has the production capacity of 490 million Imperial Gallons of water per Day, which is equivalent to 2,227,587 Cubic Metres per Day.
- DEWA aims to increase its SWRO production capacity to 303 MIGD by 2030, reaching 42 percent instead of its current share of 13 percent.
Geostrategy
Finance Ministers of UAE, India discuss trade, economic ties
UAE Minister of State for Financial Affairs Mohamed bin Hadi Al Hussaini met with India's Minister of Finance Nirmala Sitharaman...
- The meeting sought to discuss means of boosting mutual cooperation between UAE and India in areas of common interest.
- The meeting deliberated the priorities set by India in its upcoming G20 presidency and the ways the UAE can support them.
Business
Reliable Engineering opens plant
The production unit was inaugurated at Hamriyah Free Zone in Sharjah.
- The new facility, which covers an area of more than 150,000 sq feet, caters to the needs of the oil and gas, marine, and oil and wind farming sectors.
- The production lines manufacture up to 500 metric tons of steel per month, by more than 160 employees and specialized technicians.
Economy
Dubai Customs issues authorization certificates to free zone companies
Dubai Customs provides the services and facilities to licensed companies in the free zones of the Emirate to boost investments...
- Dubai Customs facilitates procedures to determine the value of the goods imported by the free zone companies.
- It provides services and facilities to licensed companies in free zones to boost investments and attract more investors.
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Electric cars credited with lower CO2 emissions in US neighborhoods
LOS ANGELES, US – The booming use of electric vehicles in parts of California is reducing CO2 emissions in those areas,...
Business
Company News
Latest News
In shock move, OpenAI sacks ChatGPT star CEO Sam Altman
His dismissal caught the tech world by surprise, with rumors rife on social media as to the cause of the...
Business
‘X’ new update includes job search feature, now live on the web
Washington, United States - The X platform has launched a new update that includes the job search feature, which provides...
Business
GCC sovereigns eye fiscal rejuvenation
A report by S&P Global Ratings forecasts improved fiscal positions due to higher oil prices, fiscal consolidation and a robust...
Economy
Most Read
Business
US chip curbs disturb Chinese firms AI projects
Shanghai, China - US restrictions on advanced computer chips are forcing China's tech giants to rethink their ambitious AI-powered projects, analysts...
- E-commerce titan Alibaba on Thursday became the latest Chinese firm to admit to feeling the bite of US sanctions
- The curbs now target cloud computing to prevent Chinese companies from accessing powerful AI chips hosted elsewhere
Business
NBM’s board approves increasing Murabaha sukuk issue to $133m
RIYADH, SAUDI ARABIA - National Building and Marketing Co’s (NBM) board of directors approved an increase of Murabaha SAR-denominated sukuk...
- The move aims to boost the company's capital expansions and working capital, the company said in a statement.
- The sukuk issue was amended from a private placement to a public offering, the company said.
Business
ADSB to make two vessels for ADNOC Logistics & Services
ABU DHABI, UAE - Abu Dhabi Ship Building (ADSB) announced that it is building two 28-meter vessels for ADNOC Logistics...
- The vessels are each powered by two diesel engines coupled with two Z-drive Azimuth thrusters.
- This configuration allows them to achieve a speed of 12 knots and a bollard pull of 60 tons.