Egypt signs several MoUs with global developers in renewable energy
Cairo, Egypt--Egypt has signed seven Memoranda of Understanding (MoUs) on Wednesday in green hydrogen and renewable energy with seven global...
Business
Saudi real estate sees new era of growth, innovation
The Kingdom's property sector is driven by a projected $3 trillion GDP by 2030 and evolving consumer preferences towards homes...
Business
Business
EU negotiators agree landmark law to curb Big Tech
The "Digital Markets Act" (DMA) has sped through the bloc's legislative procedures and is designed to protect consumers.
- The "Digital Markets Act" (DMA) has sped through the bloc's legislative procedures and is designed to protect consumers
- "The gatekeepers -- they now have to take responsibility," said the EU's competition supremo Margrethe Vestager
Business
Banks break pledges with fossil fuel billions: Report
The analysis by London-based think tank InfluenceMap found the world's 30 biggest listed finance groups provided $740 billion to fossil...
- The analysis by London-based think tank InfluenceMap found the world's 30 biggest listed finance groups provided $740 billion to fossil fuel producers in 2020 and 2021
- The biggest providers of fossil fuel financing were JP Morgan with $81 billion, Citigroup with $69 billion, and Bank of America with $55 billion
Business
ADH invests $100m in DEWA
Abu Dhabi-based Alpha Dhabi Holding is a subsidiary of the IHC.
- ADH made the investment through its subsidiary Alpha Dhabi Partners Holding LLC, as a cornerstone investor
- As part of the transaction, Alpha Dhabi Partners Holding LLC will acquire shares through DEWA’s IPO
Business
Al Abjan to raise production
The firm plans to produce 30m hatching eggs by 2023 from 11m in 2021.
- The firm said after raising its production, it will meet more than 28 percent of the UAE’s requirement of 105 million eggs annually.
- Al Ajban anticipates 13 percent return on investment, in consideration of expansion plans that include a new chicken rearing farm.
Business
DEWA prices shares AED2.25-2.48 in Dubai’s biggest IPO since 2017
The IPO size implies a market capitalization at listing of between $30.63 billion and $33.76 billion, which would make DEWA,...
- The IPO subscription started on Thursday and will run until April 2 for the UAE retail investors and until April 5 for the institutional investors.
- DEWA is the majority owner of Empower, the world's largest district cooling services operator by connected capacity.
Business
Unit 2 of Barakh Nuclear Energy Plant starts operations
The Emirates Nuclear Energy Corporation (ENEC) announced today the start of commercial operations of Unit 2 at the Barakah Nuclear...
- Unit 2 adds 1,400 megawatts of zero-carbon emission electricity to the national grid, bringing the total produced by Units 1 and 2 to 2,800 megawatt.
- This new addition takes ENEC and its subsidiaries to the halfway mark of delivering on its commitment to supply a quarter of the country's electricity needs.
Business
KSA mining sector grew 27% to $194 million in 2021
Saudi Vice Minister of Industry and Mineral Resources Eng. Khalid Saleh Al-Mudaifer estimated the total value of mineral wealth in...
- Saudi Vice Minister of Industry and Mineral Resources Eng. Khalid Saleh Al-Mudaifer estimated the total value of mineral wealth in Saudi Arabia at around $1.3 trillion
- He stressed that competition among countries is increasing to assume leading positions in the global mining markets
Geostrategy
Jordan, India discuss cooperation in fertilizer industry
The Jordanian Minister of Investment, Khairy Amr voiced Jordan's readiness to provide facilities for Indian investment in Jordan and invited...
- The Jordanian Minister of Investment, Khairy Amr voiced Jordan's readiness to provide facilities for Indian investment in Jordan and invited Indian experts to his country
- Indian minister reaffirmed the Indian government's keenness to prioritize Jordan in importing phosphates and fertilizers
Business
Ukraine war hits VW ops
A 150-strong task force is working feverishly to keep supply flowing.
- Volkswagen plans to use the lessons learned from Ukraine crisis as the war in country affects its production capacities
- Leoni restarted production in Ukraine on March 2 'with extra security precautions', and Soviet bunkers are being used to keep workers safe
Business
UAE, Turkey chambers of commerce review advancing cooperation
During the meeting, prospects for collaboration between private sector institutions in the countries and ways to enhance them were reviewed.
- The FCCI expressed readiness to promote the opportunities presented by Turkey among Emirati business-owners
- The two sides also mulled over the possibility of signing an MoU between ULUSKON and FCCI
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
Egypt signs several MoUs with global developers in renewable energy
Cairo, Egypt--Egypt has signed seven Memoranda of Understanding (MoUs) on Wednesday in green hydrogen and renewable energy with seven global...
Business
Company News
AllianceBernstein office in DIFC
Business
Latest News
Subscription opens to Alinma EMF
Business
Saudi Catering, RSG ink pacts
Business
Sharjah Social Security Fund offers service period purchase option
SHARJAH, UAE - The Sharjah Social Security Fund (SSSF) has allowed the possibility of acquiring the service period for insured...
Business
Saudi-China Entrepreneurs Association and HKTDC sign MoU
Hong Kong - The Saudi Arabia-China Entrepreneurs Association (SCEA) has signed a Memorandum of Understanding (MoU) with the Hong Kong...
Business
Aramco expands into South American retail market with Esmax buyout
Riyadh, Saudi Arabia - Aramco, one of the world’s leading integrated energy and chemicals companies, has announced its agreement to...
Business
Most Read
Opinion
MEA brands focus on personalized customer experience
"Post-Covid GCC travel trends are promising: about 50% of customers plan to increase digital spending in travel and retail. With...
- In the digital era, customer engagement is vital, shifting from transactional ties to interactive bonds; 20% of engaged patrons drive 80% of sales through endorsements
- Post-Covid, travelers see personalized offers, not just reminders; 34% might switch due to poor communication; GCC sees rising digital spend; CEPs promote sustainable growth.
Business
Oil prices at a crossroads as production cuts persist
Oil stocks drop as Saudi Arabia and Russia extend a 1.3 million barrel per day oil supply reduction, leading to...
- Oil stocks drop as Saudi Arabia and Russia extend a 1.3 million barrel per day oil supply reduction, leading to an anticipated market deficit until 2023-end, says a report
- Refineries grapple with material changes and disruptions as Russia's diesel export reduction boosts futures prices and OPEC+ cuts drive high oil prices during Q3 of 2023
Geostrategy
Europe’s tussle with Big Tech involves dominance, data, disinformation
Paris, France - Irish regulators on Friday handed out a 345-million-euro ($369-million) fine to TikTok over data breaches, part of a...
- Ireland issues the most stringent fines on this front as Dublin hosts the European offices of several big tech firms and data privacy is enforced by local regulators.
- The EU has had little success in getting tech companies to pay more taxes in Europe, where they are accused of funneling profits into low-tax economies.