Maersk and Hapag-Lloyd ink deal
The cooperation deal between the two will begin February 2025.
Business
Saudi Catering, RSG ink pacts
Business
Tesco picks new chairman
Business
Al Arabia subsidiary wins Dubai contract
The contract was awarded by Dubai Roads and Transport Authority.
Business
Apple tops $3trn in market value
Business
BMW to put in $218m in S Africa
Business
H&M shares up
Business
Business
Evergrande undergoes rejig
A state firm official was appointed to the Chinese firm’s board.
- Evergrande has been teetering on the brink for months owing to its struggles in servicing a debt pile of more than $300 billion
- However, its shares ended up nearly 4 percent higher on Monday after news emerged of government intervention in its operations
Business
SINOPEC inks Iraq gas deal
The contract includes training workers to keep up with the sector,
- Iraq has signed contract with to develop the Mansouriya gas field in Diyala in the Anbar Governorate
- This deal represents an addition to the investment of free gas from the Mansouriya field
Business
Intel to build two chip factories
The company will invest $20 bn, hire 3,000 new workers for the sites in Ohio.
- Construction of the plants is scheduled to begin at the end of the year. Chip production could start as early as 2025.
- Recent problems in global supply chains have highlighted the fundamental importance of semiconductors, which are used in a growing number of products including cars, TVs.
Business
Netflix subscriber growth slows
The company saw 221.8 million subscribers in 2021.
- The streaming service ended the year with 221.8 million subscribers, just below target, after booming during coronavirus lockdowns
- The market punishment was immediate, with shares of the California streaming giant losing some 20 percent in after-hours trading
Business
Google appeals EU fine
It was fined €2.4-billion for abusing its search engine dominance.
- The case centers on Google's shopping service and is one of three against the search engine giant currently in the EU's appeals system
- The fine had come after seven years of investigation over complaints from other price-comparison services against Google Shopping
Business
Masdar, Mitrabara announce JV
The venture targets commercial and industrial segment.
- The venture will help Masdar expand its presence in Indonesia and support the nation’s clean energy and climate objectives.
- Masdar entered the Indonesian market in 2020, forming a joint venture with PT PJBI, a subsidiary of Indonesia’s state electricity company.
Business
Tadweer inks deals worth $64m
The deals were signed at the eighth edition of EcoWASTE.
- EcoWASTE 2022, where the deals were signed, was held at Abu Dhabi National Exhibition Centre
- It was organized as part of Abu Dhabi Sustainability Week in strategic partnership with Tadweer
Business
Red Cross hacked
Hackers seized data of more than 515,000 extremely vulnerable people.
- The International Committee of the Red Cross said the hackers targeted an external company in Switzerland that it contracts to store data
- There was no evidence so far that the compromised information had been leaked or put in the public domain
Business
Aramco signs 10 Korea deals
The signings took place at the Saudi-Korean Investment Forum.
- The deals aim to advance Aramco’s downstream strategy and support the development of low-carbon energy solutions
- They are also expected to create new financing options for the world’s largest oil and gas company
Business
ExxonMobil to go net-zero by 2050
The net-zero target is only for its operations, not products.
- Chief executive of ExxonMobil confirmed that the company has committed to have a Permian operations at net-zero carbon by 2030
- The company will release "detailed roadmaps" addressing 90 percent of operations-related greenhouse gas emission by the end of 2022
Maersk and Hapag-Lloyd ink deal
The cooperation deal between the two will begin February 2025.
Business
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Subscription opens to Alinma EMF
Business
Saudi Catering, RSG ink pacts
Business
Tesco picks new chairman
Business
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Apple tops $3trn in market value
Business
BMW to put in $218m in S Africa
Business
Ryanair inks pact with Joramco
The airline is likely to carry 300m passengers a year by 2034.
Business
French President says change in existing world order would weaken West, Europe
PARIS, FRANCE - Attempts to change the existing world order threaten to weaken the West and especially Europe, French President...
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Business
SAMI launches radio systems line
PIF-owned SAMI will be partnering with the Ministry of Defense.
- SAMI CEO Waleed Abdulmajeed Abu Khalid underlined the partnership in strengthening relationships with L3Harris, the world's leading defense company.
- In June, SAMI signed an agreement with Safran Helicopter Engines for engine maintenance and repair.
Business
NIDC drills 195 oil wells in 2 years
Wells were drilled in onshore, offshore operations.
- The oil and gas wells were put into operation by affiliated companies of the National Iranian Oil Company.
- 13 wells were completed 201 days sooner than expected due to round-the-clock efforts of NIDC’s employees.
Business
$202m contract signed for Jeddah project
The contract involves MEP works for Al Muhammadiyah Hospital.
- The contract was signed between Zamil Air Conditioning and Refrigeration Services Co. Ltd. and Al Muhammadiyah Hospital for Healthcare Co.
- Sulaiman Al Habib plans to finance the project from its own resources and Shariah-compliant long-term bank loans.