AstraZeneca to buy Fusion
The $2.4bn deal is its latest expansion into cancer treatments.
Nvidia unveils ‘superchips’
The company also announced other AI developments.
Business
Condor orders 41 jets
The airline is buying aircraft using less fuel.
- The order is for 13 A320 and 28 A321 jets fitted with Pratt & Whitney engines for delivery starting in Spring 2024, Condor and Airbus said in a joint statement.
- The catalogue price is about 5.0 billion euros ($5.1 billion) but the final purchase price usually differs due to possible discounts offered to big-ticket customers.
Business
French, UK satellite firms eye tie-up to create ‘global champion’
French satellite operator Eutelsat said on Monday it was in talks with British counterpart OneWeb for a tie-up to create...
- French satellite operator Eutelsat already provides some internet services through a deal with telecoms firm Orange.
- "Potential all-share combination" would "create a global leader in connectivity", Eutelsat said.
Economy
Over 30,000 visitors attend Al Dhaid Date Festival in Sharjah
The 6th edition of Al Dhaid Date Festival came to a successful conclusion at Expo Al Dhaid, after four days...
- The Al Dhaid Date Festival drew over 30,000 visitors who explored and learnt about the best and finest types of dates
- Sharjah Chamber of Commerce and Industry says it will spare no effort to promote and preserve the historical status of palm trees
Business
SAMA completes e-linking procedures through Tanfeeth program
The Saudi Central Bank (SAMA) has completed electronic linking procedures with the Saudi Center for Economic Business through the “Tanfeeth”...
- This program aims to directly link the technical systems of government agencies and banks operating in the kingdom through the Saudi Central Bank.
- The Central Bank stated that, through the “Tanfeeth” program, it aims to improve and develop joint business with government agencies.
Economy
Saudi Arabia’s overall exports in May 2022 was US$38.5bn
The Kingdom of Saudi Arabia’s overall merchandise exports increased by 83.4 percent in May 2022 compared to May 2021, the...
- Saudi Arabia’s overall merchandise exports increased by 83.4 percent in May 2022 compared to May 2021
- The share of oil exports in total exports increased from 72 percent in May 2021 to 80.6 percent in May 2022
Business
Saudi center to auction industrial properties in Riyadh
Saudi Arabia's Center for Attribution and Liquidation "Infath" will auction quality real estate in Riyadh on August 1, a media...
- The auctions offer 14 industrial real estate assets in eastern Riyadh, with large total areas estimated at more than 80,000 square meters.
- The real estate consists of three industrial lands in Al-Sulay district licensed to establish industrial workshops, and 11 lands licensed to establish warehouses.
Business
Borouge 4 expansion on track
EPC contractors are set to start construction this month.
- Upon completion, the project will boost the total annual production capacity of polyolefins produced in the UAE to 6.4 million tons.
- It will also supply feedstock for the TA'ZIZ Industrial Chemicals Zone.
Business
Saudi Arabia to pour in $5bn in poultry industry
Saudi Arabia will pour in $5 billion in the poultry industry in order to boost production as the kingdom looks...
- By targeting 1.3 million tons of broiler chickens per year, the ministry will ensure national food security, increase local content, and create employment opportunities
- Ibrahim Qassem, the director-general of the Animal Resources Services at MEWA, told media that the volume of livestock projects exceeded 980 across all regions of the kingdom
Business
SAIB shares vault more than 2%
The stock rose after it declared cash dividends of $80 million.
- The bank’s stock touched SR20.88 on Sunday, up from an opening price of SR20.5
- Last year, SAIB paid an annual dividend of SR0.7 per share – the highest in years after freezing dividends for two straight years
Geostrategy
Crises make GCC, Western countries more pragmatic
An increasing number of strategic agreements are being signed with the regional players as Europe, US seek to diversify sources...
- An increasing number of strategic agreements are being signed with the regional players as Europe, US seek to diversify sources of energy supply, says an expert at IRIS
- Relations between the US and Arab countries are dominated by pragmatism as the former wants to carry out an active diplomacy to avoid being outstripped by the rivals
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AstraZeneca to buy Fusion
The $2.4bn deal is its latest expansion into cancer treatments.
Company News
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Meeza to list on QSE
Business
GCC unified tourist visa to be introduced within 2 years, says UAE minister
ABU DHABI, UAE – Emirati Minister of Economy Abdullah bin Touq Al Marri has announced that the Gulf Cooperation Council...
Business
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Business
Knowledge E and HBMSU sign agreement to ‘reshape future of education’
Dubai, UAE-- Hamdan Bin Mohammed Smart University (HBMSU) and Knowledge E have signed a memorandum of understanding to reshape the...
- Vice Chancellor of HBMSU said the MOU is a step in the university's march toward transforming education in a way that brings smart learning innovation into the sector
- As per the terms of the agreement, both sides will collaborate in several key areas - including content digitisation and self-paced courses, management of HBMSU's journal system
Business
PIF and Hyundai to set up JV vehicle-manufacturing plant in Saudi Arabia
Riyadh, Saudi Arabia--The Public Investment Fund (PIF) and Hyundai Motor Company (Hyundai) have signed a joint-venture agreement to establish an...
- The investment in the joint-venture project is expected to exceed $500 million with PIF to hold 70 percent stake and Hyundai the remaining 30 percent
- The JV project will speed up Saudi Arabia's automotive industry in addition to creating thousands of jobs and allowing for the transfer of knowledge and expertise
Business
EHS and Burjeel Hospital for Advanced Surgery sign MoU
Dubai, UAE--Emirates Health Services (EHS) and Burjeel Hospital for Advanced Surgery have signed a memorandum of understanding (MoU) to bolster...
- The MoU is designed to improve the delivery of health services in government schools in accordance with sustainable development goals in public health
- Both the sides maintained that the objective is to strengthen cooperation between the EHS and Burjeel Hospital for Advanced Surgery in healthcare and continuous development