Business
American Airlines trims flights
The US carrier is waiting for the new Boeing 787 Dreamliners
- The major US carrier is still waiting for the new Boeing 787 Dreamliners it ordered and will not resume flying routes in the summer of 2022 as previously planned
- Demand for long-distance flights has been slow to recover from the pandemic downturn, but US carriers have been eyeing summer 2022 as a key moment in the comeback
Business
EGA signs 3 year agreement with China’s Bosai Group
The company has supplied Bosai Minerals Group over one million tonnes of bauxite in 2021 under short-term agreements.
- The company has supplied Bosai Minerals Group over one million tonnes of bauxite in 2021 under short-term agreements
- EGA operates a transshipment facility in Guinea, enabling its bauxite to be shipped using giant Capesize vessels
Business
Masdar, Taaleri SolarWind II Fund launch wind farms in Poland
"This event marks a key milestone in Poland’s renewable energy journey and demonstrates Masdar’s commitment to the nation’s climate action...
- In January, both companies announced they had each acquired a 50% stake in the projects, marking their first investment in the Polish renewable energy market
- The projects produce enough electricity to supply approximately 90,000 households in Poland, and offset 146,000 tonnes of carbon dioxide each year
Business
Mubadala acquires stake in Sibur
This is the company's largest investment in Russia yet.
- The acquisition terms were agreed upon before Sibur's recent merger with TAIF.
- In 2015, Mubadala invested in Sibur’s transshipment terminal in Ust-Luga.
Business
Etihad and ITA Airways sign pact
Codesharing agreement to boost travel and tourism between Italy and UAE.
- The agreement will also offer travelers more options and better connectivity when traveling through Rome Fiumicino, Milan Malpensa and Abu Dhabi.
- The partners are also working together to expand the scope of their cooperation over the coming months.
Opinion
Gulf boardrooms still a man’s world
Female representation on boards and at higher levels across the Gulf is trailing behind much of the rest of the...
- Research from McKinsey & Company shows that organizations with greater diversity among their executive teams enjoyed both greater profits and longer-term value.
- McKinsey’s research also found that companies with low rates of both gender and racial diversity are 29 percent more likely to make less money.
Business
Half of Iran’s civil jets grounded for lack of spare parts
The shortage represented more than half of the civilian aircraft in the sanctions-hit country, he said in an interview this...
- The shortage represented more than half of the civilian aircraft in the sanctions-hit country, he said in an interview this week
- According to the Iranian economic daily Financial Tribune, national carrier IranAir currently operates a fleet of 39 planes, the majority of them Airbus jets
Business
Mubadala invests in US-based Medallia
Medallia captures experience data from customers and employees.
- Medallia was founded in 2001 and is a provider of experience management software to customers.
- Mubadala was founded on 19 January 2017 and Crown Prince of Abu Dhabi Sheikh Mohammed bin Zayed Al Nahyan is its Chairman.
Coalition says record drugs haul seized near Gulf in 2021
The value of the drugs seized by the Bahrain-based Combined TCommander of CTF 150, Royal New Zealand Navy Captain Brendon...
- The value of the drugs seized by the Bahrain-based Combined Task Force 150, or CTF 150, exceeded the past four years combined
- The haul including 6,550 kilograms of heroin, 4,052 kilograms of methamphetamine and 56,834 kilograms of hashish was all destroyed
Business
UAE biggest trading partner of Australia, relations between two growing
The UAE is Australia’s largest trading partner and the second-largest source of investment in the Middle East, said Justin McGowan,...
- Annual trade between the two countries is valued approximately at AU$9.8 billion ($7.1 billion).
- More than 250 Australian companies are based in the UAE, said Justin McGowan, Commissioner General of Australia at Expo 2020 Dubai.
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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
Company News
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Saudi minister, Chinese firms seek collaboration in housing development
Beijing, China -- Saudi Arabia's Minister of Municipal, Rural Affairs and Housing, Majid bin Abdullah Al-Hogail, has held a meeting...
Business
Oman LNG signs gas-export deal with Germany’s SEFE
Muscat, Oman-- Oman LNG has signed an agreement with Securing Energy for Europe (SEFE) to supply 400,000 tonnes of liquefied...
Business
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Business
AD Ports Q2 revenue grows 66%
The company attributed growth to increased volume across key sectors.
- On a like-for-like basis (LFL), which excludes the impact of M&A activity, the revenue growth was still significant, reaching 44 percent YoY
- The growth drivers were primarily the Maritime Cluster with a substantial 208 percent YoY increase, followed by the Digital Cluster with 26 percent
Business
Ma’aden, BADC ink agreement
Firm to supply 600,000 tons of fertilizers to BADC.
- The renewal is further proof of the company’s commitment to meet global market demand for phosphate fertilizers.
- Ma’aden supplies approximately 42 percent of Bangladesh’s estimated requirement of diammonium phosphate.
Geostrategy
Russia open to defense cooperation with several countries, says Putin
Moscow is open to equal defense cooperation with all nations seeking to protect their interests, Russian President Vladimir Putin said...
- The Russian leader stressed that the forum had earned recognition as one of the world’s largest exhibitions of advanced military equipment.
- Putin said the event makes a significant contribution to the development of Russia’s multifaceted ties with other countries.