Saudi Tourism Authority, Trip.com Group sign global agreement
BERLIN, GERMANY – Saudi Tourism Authority (STA) and Trip.com Group have announced a significant global partnership, which will drive greater...
Business
Nationwide offers to buy Virgin Money
Nationwide has offered US$3.7 billion for Virgin Money.
Business
Business
Saudi Arabia, Bahrain review ways to boost ties
The two countries are seeking to establish a regional complex for the extraction, use, and storage of carbon.
- The two sides agreed to enhance cooperation on international climate policies
- They will also look to focus on emissions rather than sources through the application of the Circular Carbon Economy approach
Business
DP World adds LatAm infra
It will add warehouses in Ecuador and the Dominican Republic.
- DP World and Emergent LatAm will develop two temperature-controlled logistics facilities in Latin America
- These developments will provide Emergent LatAm and DP World customers with a supply-chain solution
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.
Saudi Tourism Authority, Trip.com Group sign global agreement
BERLIN, GERMANY – Saudi Tourism Authority (STA) and Trip.com Group have announced a significant global partnership, which will drive greater...
Business
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Iran says European countries willing to buy our drones
TEHRAN, IRAN - A number of European countries have asked to purchase Iran’s unmanned aerial vehicles, the spokesperson for the...
Geostrategy
Tehran exports goods worth $7.2bn to West Asia in 4 months from March 2023
TEHRAN, IRAN - Iran exported $7.2 billion worth of products to West Asian countries in the first four months of...
Geostrategy
Iran world’s eighth largest steel producer in first half of 2023
Tehran, Iran -- Iran became the eighth largest steel supplier in the world in the first half of 2023 as...
Business
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Business
Gazprom delivers 41.5m cu.m of gas to Europe per day through Ukraine
Moscow, Russia -- The volume of Russian gas supplies to Europe through Ukraine is 41.5 million cubic meters per day,...
- The gas is supplied via Sudzha gas pumping station in an amount approved by Ukraine, a Gazprom spokesman said.
- The transit line through Ukraine remains the only route for Russian gas supplies to western and central European countries.
Business
stc Group begins work in Europe
stc’s subsidiary TAWAL buys assets in eastern Europe.
- TAWAL aims to ensure a reliable and efficient ICT infrastructure network to all mobile networks operators in the market.
- TAWAL aims to bring significant investments, best processes and practices, as well as innovative products to its portfolio.
Business
AI revolution in video games has industry players treading warily
The ultra-connected industry is eyeing the innovation warily, with fears growing that jobs could be made redundant and artistic creations...
- Attracting thousands of video game lovers every year, Gamescom, one of the video game industry's biggest fairs, is an opportunity for studios to showcase their latest creations.
- Many gamers turn up in cosplay costumes, as they throng the stands to try out the potential new hits -- this year including some that prominently feature AI.