Riyadh’s “Global Sports Tower” designs approved
Led by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, the initiative's purpose is to elevate the...
Economy
Aramco, Sempra ink Port Arthur LNG royalties deal
Aramco's 25% participation in Port Arthur LNG Phase 2 aims to expand its gas portfolio and meet the world's growing...
Business
Business
Invictus listed on ADX’s Growth Market
Invictus Investment specializes in agro-food commodities, raw materials.
- The company was established in Jebel Ali Free Zone in 2014 to manage raw material import requirements for large manufacturers in Sudan.
- The company also operates Invictus Trading FZE, a fully owned subsidiary whose activities include non-manufactured precious metals trading.
Business
US stocks on defensive amid inflation and slowdown anxiety
Wall Street stocks were mixed early Wednesday, treading water after the prior session's pullback that came amid worries over soaring...
- After last week's rally, stocks were back on the defensive Tuesday, falling hard after downcast consumer confidence reading.
- The broad-based S&P 500 added 0.1 percent at 3,825.61, while the Nasdaq Composite Index dipped 0.1 percent to 11,173.57.
Geostrategy
Ocean-based climate solutions important, says UAE Minister
UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri said that leveraging nature-based solutions, especially blue carbon...
- The UAE minister says leveraging nature-based solutions to mitigate and adapt to the impacts of climate change is vital
- She says important to explore ways to tackle marine pollution from land- and sea-based sources
Business
Qatar trade balance surplus surged 120 percent in May
The year-on-year increase in total exports was mainly due to higher exports of petroleum gases and other gaseous hydrocarbons reaching...
- The total exports of goods (including exports of goods of domestic origin and re-exports) amounted to around QR 45.3 billion.
- The imports of goods in May 2022 amounted to around QR 8.8 billion, showing an increase of 5.5 percent compared to May 2021.
Business
Etihad Air expected to fly 2.7m passengers over summer months: CEO
Etihad Airways and Abu Dhabi International Airport are preparing to welcome 2.7 million network passengers over the summer months, following...
- Over 1.4 million passengers will depart from Abu Dhabi International Airport, including 330,000 local joiners.
- Guests would check in online, use the Verified to Fly service to submit any Covid-related documents for approval.
Business
World Bank approves $130m loan for Tunisia to ensure food security
The loan approved Wednesday aims to ensure "affordable bread for the poor, barley for livestock, and agricultural inputs for domestic...
- The package is aimed at lessening the impact of the Ukraine war by financing vital soft wheat imports.
- Tunisia is dealing with heavy public debt, a low credit rating and steep inflation, which worsened because of Ukraine war.
Geostrategy
UAE presents national report on spent nuclear fuel to IAEA
The United Arab Emirates has presented its Fourth National Report on spent nuclear fuel, radioactive waste management at the International...
- The national report describes the legislative and regulatory measures taken by the UAE to meet its obligations
- The report also addresses options in regards to spent fuel and radioactive waste management
Business
Schneider, ADH sign MoU
They will collaborate on a number of projects within Egypt and beyond.
- Utilizing and building EcoStruxure platforms will be the cornerstone of these collaborations, said a Schneider executive.
- He said these platforms are designed to enable the use of innovations like the Internet of Things.
Business
EU to stop combustion engine sales by 2035 in Europe
The European Union approved a plan to end the sale of vehicles with combustion engines by 2035 in Europe, the...
- The measure, first proposed in July 2021, will mean a de facto halt to sales of petrol and diesel cars as well as light commercial vehicles
- Europe's automotive industry, which is already investing heavily in the move to electric vehicles, fears the social impact of a too-rapid transition
Business
SAFEEN acquires two Supramax vessels
The firm says there is high demand for maritime services.
- Since being acquired, these ships have been deployed as part of a collaboration between SAFEEN Feeders and Saif Powertec Limited.
- SAFEEN Feeders provides feeder and dry bulk services linking Abu Dhabi to ports serving the UAE, the broader Gulf region, and the Indian Sub-Continent.
Riyadh’s “Global Sports Tower” designs approved
Led by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, the initiative's purpose is to elevate the...
Economy
Company News
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UAE, Saudi stock exchanges surpass Arab peers with $167bn in gains
Abu Dhabi, UAE -- The financial markets of the United Arab Emirates and Saudi Arabia topped the Arab stock exchanges...
Business
Saudi Arabia selected as member of UN’s AI Advisory Body
New York, United States-- United Nations Secretary-General António Guterres Friday announced the selection of Saudi Arabia to the UN Advisory...
Geostrategy
Qatar records real estate sales contracts worth $84m in five days
Doha, Qatar -- Qatar recorded real estate trading volume in sales contracts worth QR 308 million ($84.59 million) for the...
Business
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Business
QFZ, Samsung C&T ink MoU
The two will collaborate in green, sustainable technologies.
- Both the parties will work together to achieve sustainability objectives within the free zones in Qatar through energy transition.
- QFZ, Samsung C&T will also explore co-investment opportunities in green infrastructure within the free zones.
Business
PIF to reveal complementary auto projects soon, says top official
Riyadh, Saudi Arabia -- The Public Investment Fund will soon announce complementary projects for the automobile industry, mainly batteries, said...
- PIF is currently focusing on attracting industries related to the automobile system, such as tires, glass, and plastics to Saudi Arabia.
- The PIF has established three factories, Ceer, Lucid and Hyundai, finalizing the first phase of its mega project related to attracting the car manufacturing industry.
Air France-KLM posts profit jump
Turnover increased nearly seven percent to 8.7 billion euros.
- The group reported profit in the third quarter of 931 million euros, double the same period last year, as the group benefited from robust demand for air travel
- Between July and September this year the group transported 26.9 million people - an increase of 7.6 percent compared to the same period the previous year