Hyperloop progress: Racing ahead or falling behind?
Over a decade after Elon Musk's hyperloop proposal, no commercial operations have begun, and Virgin Hyperloop shut down in 2023...
Business
Arts & Culture
Art Dubai 2022 embraces digital art, NFTs
Art Dubai 2022, the art fair's largest edition and one of the few major international art events to take place,...
- This year's event is unique as it will demonstrate that Dubai has become a big part of the discussion about modern art.
- Dubai is a global crypto hub with a diverse group of collectors and entrepreneurs.
Business
Borouge opens fifth polypropylene unit
PP5 will increase Borouge’s PP annual production capacity by 25 percent.
- Its total polymer capacity of polyolefins will also be increased by 11 percent from 4.5 to 5 million tons per year.
- Raw materials produced at PP5 would be enough for making water supply pipes for 6,500 Burj Khalifa buildings.
Business
Thailand’s only Fortune Global 500 company opens office in Abu Dhabi
The new trading office of PTT, Thailand’s largest corporation and the only Thai company listed in Fortune Global 500, was...
- PTT becomes part of the growing energy trading community-based at ADGM, alongside ADNOC Global Trading and ADNOC Trading.
- PTT is a long-standing and partner and customer of ADNOC and one of the founding partners in the IFAD Exchange to trade to Murban Futures.
Business
New South Wales displays agri-food innovations at Expo 2020
The Australian state of New South Wales (NSW) displayed its agri-food innovation and manufacturing capabilities to strengthen further its ties...
- New South Wales highlighted its prominent companies in agtech, food & beverages besides prime investment opportunities.
- The event saw six NSW companies pitched their businesses to the buyers, investors, distributors and retailers present in the audience.
Business
Aramco closes deal with consortium
The Global Investor Consortium acquires 49pc stake in Aramco Gas Pipelines.
- This lease and leaseback deal between the two companies was previously announced on December 6, 2021.
- Global Investor Consortium is an international investor consortium led by affiliates of BlackRock and Hassana.
Economy
With Spanish funds, Lebanon plans to revive railway out of service since ’70s
Lebanon's transport minister has said that Spain will finance a plan to revive the railway network that has been out...
- Lebanon had a railway network since the end of the 19th century which connected Beirut to the Syrian capital Damascus.
- It was built during Ottoman rule and inaugurated in 1895, operating until the devastating civil war begun 47 years ago.
Business
Conference in Dubai to bring together Emirati investors and Israeli companies
A conference that brings together Emirati investors and Israeli public companies listed on the Tel Aviv Stock Exchange (TASE) will...
- The conference is collaboration between the UAE Embassy in Israel, Tel Aviv Stock Exchange and the Dubai International Chamber.
- Some of the TASE-listed companies that will participate include Altshuler Shaham, Amos Luzon Dev & Energy, Beeio Honey, Bezeq, Delek Drilling, Energix, Enlight Enregy, Epitomee.
Business
Etihad Rail and FAB sign pact
The bank will arrange finances worth $541m for passenger transport.
- The agreement comes as part of the UAE National Railways Programme, the largest land transport system of its kind in the UAE.
- With the launch of the railway passenger services, the passenger trains will strengthen connectivity between the UAE by connecting 11 cities and locations in the country.
Economy
Russia-Ukraine conflict: GCC can fill the energy gap
The Arab oil and gas producers are likely to close the gap that could arise from the disruption of oil...
- The Arab oil and gas producers are likely to close the gap that could arise from the disruption of oil flows from Russia, according to the Institute of International Finance
- The brent oil prices surged to US$100 per barrel for the first time in eight years after Russia attacked Ukraine
Business
Etisalat rebranded e& in pursuit of global tech and investment ambitions
UAE’s biggest telecom operator Etisalat will now be called as e& after its rebranding on Wednesday, which was launched by...
- The rebranding was launched by Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs.
- Abu-Dhabi based Etisalat was founded in 1976 and it has operations in the MENA region and Asia, serving more than 156 million customers.
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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
Hyperloop progress: Racing ahead or falling behind?
Over a decade after Elon Musk's hyperloop proposal, no commercial operations have begun, and Virgin Hyperloop shut down in 2023...
Business
Company News
TAQA to buy SWS Holding
Business
Latest News
QSE unveils new trading system
Business
Musk threatens to sue anti-defamation group for falling revenue
Billionaire Musk has also previously been accused of fueling anti-Semitic tropes, including attacks against Jewish philanthropist George Soros. According to...
ADEX and National Bank of Egypt sign $100m financing agreement
This is aimed at supporting UAE export transactions to Egypt.
Business
ADNOC to develop largest carbon-capture project in MENA
According to an ADNOC statement, the project will be able to capture up to 1.5 million tonnes of CO2 a...
Business
Most Read
Economy
Israel suspension of Gaza exports risks ‘catastrophe’: businesses
Osama Nofal, of the Gaza economic ministry, put the value of Gaza exports to Israel and the occupied West Bank...
- Israel's army chief on Monday ordered a halt to commercial deliveries from Gaza to Israel after an alleged attempt to smuggle explosives
- The Gaza Strip has been under a crippling Israeli blockade since the Islamist group Hamas seized power in the Palestinian territory in 2007
Business
stc buys stake in Telefónica
The group invests in information, communications and technology sectors.
- The group's growth strategy has resulted in investments in the Information, Communication and Technology sectors inside Saudi Arabia and globally
- The most recent investment being the acquisition by Tawal, a subsidiary of stc Group, of United Group’s telecommunications tower assets in Bulgaria, Croatia and Slovenia
Business
Smart factories transform manufacturing across GCC
Saudi Arabia and UAE lead the region in rapidly embracing the Fourth Industrial Revolution, shifting from traditional factories to smart...
- Saudi Arabia and UAE lead the region in rapidly embracing the Fourth Industrial Revolution, shifting from traditional factories to smart ones.
- Bahrain's commitment to transform 300 factories by 2026 solidifies the region's dedication to technological advancements in manufacturing.