Search Site

Uncategorized

ADNOC Drilling closes JV

It is a JV between ADNOC Drilling, SLB and Patterson UTI.

Boeing to boost 787 production

The firm will invest$1bn to ramp up production in South Carolina.

ADNOC signs deal with PETRONAS

Under the agreement, ADNOC will supply 1m tons of LNG per year.

Aramco-Horse Powertrain deal completed

An agreement for the purchase of 10% equity stake was signed in June 2024.

Roche to buy Poseida Therapeutics

The $1.5 billion deal is due to close in early 2025.

Libya’s eastern administration lifts oil production, export blockade

The Benghazi-based administration, which controls most of Libya's oilfields, said in a Facebook post it was "lifting the force majeure...
  • Libya is struggling to recover from years of conflict after the 2011 NATO-backed uprising that overthrew Moamer Kadhafi
  • It remains split between a United Nations-recognized government of Prime Minister Abdulhamid Dbeibah and the rival authority in the east backed by military strongman Khalifa Haftar

Israel declares UN chief ‘persona non grata’ over Iran attack response

"Anyone who cannot unequivocally condemn Iran's heinous attack on Israel does not deserve to step foot on Israeli soil," said...
  • Following Iran's missile attack on Israel late Tuesday, Guterres condemned the "broadening conflict in the Middle East", slamming "escalation after escalation" in the region.
  • Israel has been a harsh critic of the UN, with ties between the state and the international body souring even more after the October 7 Hamas attacks.

G7 says diplomatic solution is still possible in Middle East

Rome, Italy -- The G7 on Wednesday vowed to work together to reduce tensions in the Middle East and said a...
  • Italian Prime Minister Giorgia Meloni called a telephone meeting of the body Wednesday to address the escalating Mideast crisis.
  • "In a constantly evolving scenario, it was agreed to work together to promote a reduction of tensions at the regional level," said the statement released by the Italian government.

Covestro accepts ADNOC takeover bid

The deal values German chemicals group at $13.3bn.
  • Under the terms of the agreement, valid until the end of 2028, ADNOC will make an offer for all remaining Covestro stock at a price of 62 euros per share.
  • ADNOC will also inject around 1.2 billion euros into the chemicals firm through the issuance of new shares, once the deal is completed.

Abu Dhabi non-oil GDP up 6.6% in second quarter: SCAD

Abu Dhabi, UAE -- Abu Dhabi's GDP increased by 4.1 percent during the second quarter of 2024, compared to the...
  • The construction sector achieved remarkable growth rates of 11.5 percent in the second quarter of 2024, compared to the same period in 2023.
  • It is estimated that the financial sector grew by 13.4 percent in the second quarter of 2024, compared to the same period in 2023.

Foreigners and institutions pour $4.9 billion into UAE equities

Abu Dhabi, UAE -- Net investments by foreigners and institutions in UAE equities amounted to AED 18.3 billion ($4.9 billion)...
  • Foreign investors "Arab and non-Arab" achieved net purchases in the two markets worth 15.5 billion dirhams during the same period.
  • Institutions have achieved a net investment in the Abu Dhabi Securities Exchange worth more than AED 1.6 billion.

Two-thirds of Gaza buildings destroyed or damaged: UN

Updating its damage assessment, the UN Satellite Centre (UNOSAT) said very high-resolution imagery collected on September 3 and 6 showed...
  • "Those 66 percent of damaged buildings in the Gaza Strip account for 163,778 structures in total," it said.
  • Approximately 68 percent of the permanent crop fields in the Gaza Strip showed "a significant decline in health and density" in September.

Lebanon urges DNA tests to identify missing in Israel strikes

Families should head to centers affiliated with the Judicial Police "to conduct DNA tests", the police said in a statement....
  • Israel has heavily bombed Lebanon's east, south and southern Beirut suburbs
  • Health Minister Firas Abiad said bodies and body parts were still under the rubble

Saudi leisure tourism surges by 656% in 2024: Tourism Ministry

Riyadh, Saudi Arabia -- Saudi Arabia's tourism sector, particularly the leisure and holiday segments, witnessed substantial growth in 2024.In a...
  • The Kingdom welcomed 17.5 million international tourists between January and July 2024, a 10 percent increase over the same period in 2023
  • The Kingdom had set the goal of 100 million tourists by 2030, but achieved this milestone in 2023, seven years ahead of schedule.

Lebanon may be seeing ‘largest displacement’ ever: PM

Prime Minister Najib Mikati said that "the estimated number is very high and may reach one million" -- which would...
  • On Friday, Israel killed Hezbollah's leader Hassan Nasrallah in a move many fear risks destabilizing Lebanon and the wider region.
  • Since Monday, intense Israeli attacks across Lebanon's east, south and on southern Beirut have killed hundreds of people and forced many to flee their homes.

ADNOC Drilling closes JV

It is a JV between ADNOC Drilling, SLB and Patterson UTI.

Latest News

Desertification talks open in Saudi Arabia as experts fire warning

UN talks aimed at halting the degradation and desertification of vast swathes of land start in Saudi Arabia. Forest loss...

Gulf summit in Kuwait urges ‘immediate ceasefire’ for Gaza

Kuwaiti Emir Sheikh Meshal al-Ahmad al-Sabah called on the international community to implement "an immediate ceasefire, providing international protection for...

Trump threatens 100% tariff on BRICS countries over currency plans

Washington, United States -- President-elect Donald Trump on Monday threatened to impose a 100 percent tariff on the BRICS group nations...

Most Read

Turkish-backed jihadists breach Aleppo, displacing thousands and cutting vital highway to Damascus

By Friday, the jihadists and their allies had taken more than 50 towns and villages in the north and entered...
  • The fighters took control of "half of the city of Aleppo" as regime forces withdrew, according to the Syrian Observatory for Human Rights
  • The offensive began on Wednesday, the same day that a fragile ceasefire took effect in neighbouring Lebanon between Israel and Hezbollah

Okonjo-Iweala’s second term: Trump’s disdain for WTO biggest challenge

Ngozi Okonjo-Iweala, the first woman and the first African to head the WTO, is the only candidate in the race,...
  • Her term ends in August 2025, and the appointment process expected to lead to her next term had initially been scheduled to take months.
  • During Trump's first term, the WTO also faced relentless attacks from his administration, which crippled the organization's dispute settlement appeal system.

Crypto boss Justin Sun eats banana art he bought for $6.2 million

Hong Kong, China -- Crypto entrepreneur Justin Sun on Friday fulfilled a promise he made after spending $6.2 million on an...
  • Titled "Comedian", the conceptual work created by Italian artist Maurizio Cattelan was sold at a Sotheby's auction in New York last week, with Sun among seven bidders.
  • Sun this week also became an advisor to World Liberty Financial, a crypto initiative backed by US president-elect Donald Trump, following a $30 million investment.