ADIA acquires hotel portfolio
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Riyad Bank H1 profit up 27%
Business
OQGN inks $1.2bn financing deal
Business
ADNOC L&S buys VLCC
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BNET gets new CEO
Al Khalifa is an Engineer with 14 years of experience
- Sheikh Ebrahim Al Khalifa is an Engineer with over 14 years of experience in information systems, customer care systems, business processes, and consultancy
- BNET is the Kingdom of Bahrain’s national broadband network responsible for the design, construction and operation of Fiber infrastructure.
Business
Twitter admits policy ‘errors’
Extremists are abusing its new photo-sharing rule.
- Twitter has noted that its teams have made errors in enforcing its new policy that disallows posting images of people without their consent
- It said it has corrected those, errors and is undergoing an internal review to make certain that this policy is used as intended
Business
Blink Experience backs Saudi GP
Saudi GP said the UAE company is now an official supporter.
- The Saudi GP is expected to be the largest sporting event to be hosted by the country
- It is going to be held for the first time at the Jeddah Corniche Circuit
Business
SIDF inks deal with Engie
The agreement is expected to yield low-carbon energy services.
- The move will let SIDF employees join Engie’s knowledge-exchange 2022 training program, which will be held in Saudi Arabia
- It will also give SIDF employees the opportunity to work with experts at Engie for six months at the company's headquarters in Paris
Business
Soudah joins UNWTO
SDC is the 25th member from the Mideast to join UNWTO.
- SDC is the 25th affiliated member from the Middle East region in the UNWTO, which includes more than 500 members around the world
- SDC’’s joining UNWTO contributes to achieving the company’s goals in developing the tourism and entertainment sectors
Business
Armani adopts fur-free policy
The company said it would no longer use angora wool.
- The company said it would no longer use the material across all of its lines from next year's fall-winter collection
- A growing number of fashion companies are adopting policies against using materials that require cruelty towards animals
Business
ADNOC to invest $127bn in 2022-2026
The company announces a significant rise in oil and gas reserves.
- ADNOC plans to bring $43 billion back into UAE economy through ICV program.
- ADNOC's ICV program has driven AED105 billion back into the UAE economy and created over 3,000 jobs for UAE nationals.
Business
Twitter bans sharing of photos
Twitter's first policy shift under the new CEO Parag Agrawal
- Twitter will need a “first person report” of any violations and then would conduct a review
- The new twitter policy wouldn’t apply to photos or videos taken from large public events
Business
GACA, Cisco sign MoU
The MoU will enhance the scope of digital transformation.
- The memorandum will enhance the scope of cooperation in technology and digital transformation in the civil aviation sector
- The GACA is keen to collaborate with international companies specializing in advanced technological fields to keep pace with the latest developments
Business
Twitter gets new CEO
Parag Agrawal named to the post as Jack Dorsey resigns.
- Twitter's chief technology officer Parag Agrawal has replaced Jack Dorsey as CEO
- Dorsey has said he would remain a member of the board until around May next year to help with the transition
Company News
SALIC buys 10.7% stake in BRF
Business
ADIA acquires hotel portfolio
Business
Riyad Bank H1 profit up 27%
Business
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OQGN inks $1.2bn financing deal
Business
ADNOC L&S buys VLCC
Business
Aramco likely to acquire equity in China’s Shenghong Petrochemical
Dahran, Saudi Arabia -- Aramco and Jiangsu Eastern Shenghong Company (Eastern Shenghong) Wednesday signed a cooperation framework agreement to facilitate...
Business
Saudi EXIM Bank, Trafigura sign pact
The bank will extend three-year credit facility of $500 million.
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Business
AMEA reaches financial closure on PV plant
The $86m project will be AMEA's first operational asset in Tunisia.
- The solar plant is being implemented by Kairouan Solar Plant, a project company registered in Tunisia and wholly owned by AMEA Power.
- The project is being financed by IFC, a member of the World Bank Group, and the African Development Bank (AfDB).
Business
Alibaba plans to list subsidiary in IPO
It did not give a timetable for the move or how much it hoped to raise.
- Alibaba announced in March it was dividing itself into six entities, with the goal of listing them separately, along with the replacement of CEO Daniel Zhang.
- Zhang, who was initially supposed to take charge of the firm's new cloud computing branch in September after stepping down, left just as he was supposed to take up his new post.
Business
QatarEnergy inks pact with Marubeni
QatarEnergy will supply naphtha to Marubeni for 10 years.
- This pact builds on the five-year Naphtha sales agreement signed in 2018 between QatarEnergy and Marubeni Corporation.
- Japan-based Marubeni Corporation is the largest petrochemical feedstock trading entity and aggregator in Asia.