Federal Reserve begins two-day talk on interest rates
Washington, United States - The US Federal Reserve began two days of discussions on Tuesday at which policymakers are expected to...
Economy
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.
Company News
Latest News
Saudi tourism on growth path despite hiccups
Infographics
Musk says X could charge all users ‘small monthly payment’
The tech tycoon has made multiple changes since taking over the site for $44 billion in October last year, when...
Business
AD ports’ digital customs transactions increase by 37% in H1
Clearance of goods transactions increased by 35.8%.
Business
Israeli PM Netanyahu urges Musk to fight anti-Semitism
During their conversation, Netanyahu said I hope you find within the confines of the First Amendment, the ability to stop...
Most Read
Business
Airports Council International sets up first office in Riyadh
Riyadh, Saudi Arabia-- The Airports Council International (ACI) for Asia-Pacific and the Middle East has established its first office in...
- The office was inaugurated by the kingdom's Minister of Transport and Chairman of the Board of Directors of the General Authority of Civil Aviation, Saleh Al-Jasser
- He said that the opening also aligns with the strategy aimed at strengthening air connectivity with countries worldwide, reaching 250 international destinations
Business
Instacart to raise US$600m in IPO
The US grocery delivery start up set IPO price at $30 per share.
- The price valued San Francisco-based Instacart at around $10 billion -- down from $39 billion in 2021
- In the event of strong demand, the number of shares could climb to 25.3 million, raising $759 million for Instacart
Business
Spire Technologies secures banking license from Central Bank of Bahrain
Manama, Bahrain--Spire Technologies has obtained licenses from the Central Bank of Bahrain (CBB), authorizing it to operate as a fully...
- The banking fintech seeks to contribute to the growth of the digitally-led national financial ecosystem and widen its presence in the region
- It intends to provide users with full agency over business cashflows, offering a rich user experience as well as faster, secure payments