GCC powers ahead in global clean energy transition with solar and hydrogen investments
Now, the region is turning its attention to newer innovations, including hydrogen production, small modular reactors (SMRs), and compact nuclear...
Low carbon investments in arrears of climate needs
Upstream investments in the oil and gas industry are still healthy and dwarf those made in low carbon projects and...
Economy
Economy
Global food import bill to jump to record $1.9 trillion: FAO
The new forecast would mark "an all-time high", and is due to the depreciating values of currencies against the US...
- Ukraine and Russia are agricultural superpowers, with more than 30 nations reliant on them for wheat and sunflower oil exports.
- Sub-Saharan Africa, already hard-hit by malnutrition, is expected to spend $4.8 billion more on food imports, despite a decrease in volumes.
Economy
Saudi Aramco, Energy ministry ink pact to build a carbon capture and storage hub
Saudi Arabia is embarking on initiatives such as the Saudi Green Initiative and the Middle East Green Initiative to meet...
- Saudi Arabia is embarking on initiatives such as the Saudi Green Initiative and the Middle East Green Initiative to meet its climate change commitments
- The first package of ongoing activities as part of Saudi Green Initiative, includes investments in the green economy worth more than $186 billion
Economy
Infra investment key to climate change adaptation
“We need to build a coherent framework of trade and investment policies supported by roadmaps that can accelerate the energy...
- There is a need to develop climate-smart policies to promote international trade and investment in mitigation and adaptation projects, says WTO official
- Fostering cooperation to develop common approaches to carbon pricing is critical to driving new transformations, Dr Ngozi Okonjo-Iweala highlights
Economy
Saudi Ports register 15% growth in October container activity
Container throughput the Kingdom's ports continued its upward year-on-year movement during October 2022, soaring to 694,517 twenty-foot equivalent unit at...
- Growth remained the dominant trend across most cargo categories.
- Optimizing operational efficiency and attracting big-ticket investments have remained a major focus for the Saudi Ports Authority.
Business
ArcelorMittal Q3 profit at $993m
Firm is suffering from slowdown in China's economic growth.
- The steelmaker said it had reduced European gas consumption by 30 percent amid soaring costs.
- ArcelorMittal said in September that it would shut down two of its blast furnaces in Europe over high energy prices and lower demand.
Business
Mazda pulls out of Russia JV
Firm to transfer it equity interest to JV partner Sollers.
- Mazda stopped shipping parts to Russia in March and ended operations the following month.
- The company said it signed an agreement last month to transfer all of its equity interest in the Russian business to its joint venture partner Sollers.
Business
Private school operator Taaleem offers 25 percent stake in IPO
Taleem set the price range at AED2.95 ($0.80) and AED3 per share, implying a market capitalization at time of listing...
- The final offer price is expected to be announced on 18 Nov. 2022. Listing of the shares and trading on DFM is expected to begin 29 Nov. 2022.
- The company is seeking to raise total capital of $204 million from the IPO, whose net proceeds will be used to expand its premium K-12 segment, Taaleem said in a statement.
NEOM has a strict data and information security strategy: CEO
Eng. Al-Nasr called for developing new and innovative ways to confront escalation in cyber-attacks and address them quickly.
- Eng. Al-Nasr called for developing new and innovative ways to confront escalation in cyber-attacks and address them quickly
- He called for finding and providing technical security solutions that give access to the best possible safe environment for users of the futuristic city’s technologies
Business
Emirates H1 profit at US$1.1bn
Revenues in H1 of 2022-2023 surged 131% to $13.7 billion.
- Emirates has bounced back into the black after its losses during the pandemic, the airline said.
- The airlines operations recovery accelerated as more countries eased and removed travel restrictions.
Economy
S&P says GCC economies to get a boost from Qatar World Cup
Dubai, UAE— The economies of the Gulf Cooperation Council will likely receive a boost from the FIFA 2022 World Cup,...
- Dubai, according to the report, would benefit the most outside Qatar because of its proximity, tourism industry, airline connections and multiple-entry tourist visa provisions
- According to S&P rating estimates, Qatar's real gross domestic product growth in 2022 will be 4.8 percent, a sharp increase from 2021
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GCC powers ahead in global clean energy transition with solar and hydrogen investments
Now, the region is turning its attention to newer innovations, including hydrogen production, small modular reactors (SMRs), and compact nuclear...
Company News
Latest News
Second quarter foreign investments in Saudi Arabia hit $666bn
Riyadh, Saudi Arabia -- Foreign investments in Saudi Arabia increased 4 percent year-on-year (YoY) to SAR 2.50 trillion ($666. 39...
Business
NMDC, AD Ports Group ink MoU
The firms will continue to work closely on future global projects.
Business
Most Read
Business
Foreign investments rise in NE China due to several projects
SHENYANG, CHINA – Investments in the country’s northeast have grown over the past years as several multinational corporations put in...
- Aramco and JV partners NORINCO Group and Panjin Xincheng Industrial Group have a mega Saudi-Chinese petrochemical project in Liaoning Province.
- The project is a 300,000 barrels per day refinery and a petrochemical complex with an annual production capacity of 1.65 million metric tons.
Economy
Saudi Arabia’s Q3 real GDP falls by 4.5% on decreased oil activities
Riyadh, Saudi Arabia -- Saudi Arabia's real Gross Domestic Product (GDP) decreased by 4.5 percent in the third quarter of...
- Non-oil activities and government activities grew by 3.6 percent and 1.9 percent respectively in the third quarter due to a 17.3 percent fall in oil activities.
- Seasonally adjusted real GDP decreased by 3.9 percent in the third quarter compared to the previous quarter, due to a decrease in oil activities and government activities.
Interview
‘Digitization, AI reshape sports and health investments’
AI will play a major role in improving sports performance and health sector advancements, Thomas H. Rudy of leAD Sports...
- AI will play a major role in improving sports performance and health sector advancements, Thomas H. Rudy of leAD Sports & Health Tech Partners tells TRENDS.
- Rudy envisions Saudi Arabia as a major player in health and sports investments, citing examples from golf and football and predicts substantial growth in team values.