US downs three Houthi drones, strikes anti-ship missiles
Yemen's Iran-backed Houthis have been targeting shipping for months and their attacks have persisted despite repeated American and British strikes...
e& 2023 net profit is US$2.8bn
e& said the net profit is a growth of 3 percent year-over-year.
Business
Business
TROX re-joins Eurovent Middle East
The company has been active in Middle East for the past 50 years.
- The company said rejoining the association meant it was renewing commitment to joint industry initiatives.
- Calls the industry to reinforce its focus on technical regulations and standards.
SRMG taps Japanese firms
It has struck a content deal with Japanese publishing houses.
- The partnership will enable SRMG to establish official channels with Shogakukan, Shueisha, and Kadokawa
- This will let it adapt and localize global content for Arab audiences
Business
More women in EGA management
EGA plans to have women in 25% of its supervisory roles.
- Two members of EGA’s Executive Committee are women
- EGA also employs more than 400 women around the world
Business
Facebook may launch digital wallet
The wallet, Novi, would let users store cryptocurrencies.
- Facebook said in 2019 it planned to introduce a cryptocurrency called Libra, which changed its name to Diem in 2020 after facing regulatory resistance.
- Company says it would have preferred to release Novi alongside Diem, but the latter's timing was uncertain.
Business
Majid Al Futtaim secures $1.5bn SLL
Women to form 30 percent of board members under agreement.
- The revolving credit facility is the largest in the MENA region.
- Company also plans to have all its malls certified LEED Gold or better.
Business
Saudi Arabia taps Alibaba to help Chinese tourists
Alibaba Cloud is expected to help promote Saudi Arabia as a tourist destination to travelers in the Chinese market.
- The deal establishes the framework for a collaborative arrangement for Chinese tourists traveling to Saudi Arabia
- The agreement is part of Saudi Arabia’s strategy to employ the latest technology to deliver seamless traveler experiences
Siemens hydrogen plant in Egypt
Siemens Energy expects to kickstart the hydrogen industry in Egypt.
- Siemens Energy and EEHC will pursue the development of a pilot project, comprising 100-200 MW of electrolyzer capacity
- This is will drive early technology deployment, establish a partner landscape, and set up off-take relations, among other things
Equate revenue surges 43% in H1
It saw $2.04 billion revenue in the first half of 2021.
- The group reported a net income after tax of $543 million and EBITDA of $869 million in H1 2021
- It has reported $124 million net income after tax and $409 million EBITDA during the same period last year
ACME ammonia plant in Oman
The plant will cost of $3.5 billion and be built in three years.
- The plant will be an integrated facility using 3 GWp of solar and 0.5 GWp of wind energy
- This will be used to produce 2,400 TPD of green ammonia with an annual production of 0.9 million tons
Oman Shell updates SME training
The new program will build the capabilities of entrepreneurs.
- Oman Shell has designed the program to ensure that it aligns with Shell’s social investment strategy and Oman Vision 2040
- It takes into consideration the aspirations of its partners and entrepreneurs, while empowering entrepreneurs and Omani businesses
US downs three Houthi drones, strikes anti-ship missiles
Yemen's Iran-backed Houthis have been targeting shipping for months and their attacks have persisted despite repeated American and British strikes...
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ADNOC L&S Q1 net profit $144m
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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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.